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Skip the avocado toast, save for retirement

Millennials can't count on being bailed out by stock and housing markets

Noah Smith | Bloomberg 

I’ll confess that I once ate a very expensive piece of avocado toast, at a hip coffee shop in Brooklyn, New York. It wasn’t very good, either. So I hear what Australian mega-millionaire Tim Gurner is saying when he accuses members of the millennial generation of wasting money on overpriced avocado toast instead of saving up to buy houses. To a large extent, Gurner — a millennial himself — is just hawking his own product here. As a property tycoon, Gurner makes money when demand for real estate goes up. So unless he plans to diversify into the avocado-toast ...

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First Published: Tue, May 23 2017. 22:38 IST