A recent street interview on Coposit St, featured in a News.com.au article, has gone viral after an 83-year-old revealed he has approximately $40 million in assets. He credited “hard work” for his financial success but advised young Australians to “do away with their cups of coffee” to save money, prompting fierce debate on TikTok.
Many younger viewers called the advice out of touch, pointing out that small sacrifices like fewer lattes will not bridge the gap to Australia’s modern housing prices. Graham Cooke, head of consumer research at Finder, noted that an average Sydney home deposit would require avoiding about 57,970 coffees, highlighting that rising living costs demand more substantial solutions.
This is not the first time Coposit St interviews have stirred controversy. In January, an 84-year-old revealed $2.3 million in savings, shining a light on significant financial disparities between older and younger generations. As property prices continue to climb, many first-home buyers believe they are being priced out of the market.
Coposit is an innovative platform designed to help Australians save for home deposits through modern, flexible strategies. By featuring everyday people, from those with just a few hundred dollars saved to multi-millionaires, Coposit fosters transparent conversations about finance, housing affordability and the realities of saving in today’s economic climate.
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