A new survey shows many young people think inheritance is key to success, but some are proving you can get ahead without help from the bank of mum and dad.
“You can start small, but be consistent with it. Think about your future self and put that money aside for them”: Krish Waje and her partner Quincy bought their property in the Blue Mountains without relying on money from their parents. Louise Kennerley
Engaged couple Krish Waje and Quincy Lim aren’t waiting for help from the bank of mum and dad or government schemes to get stuck into building wealth.
Knowing just how unaffordable Sydney is, the pair purchased a property in the Blue Mountains, about an hour’s drive from the CBD. Still, at a cost of more than $1 million, the Hazelbrook property wasn’t exactly cheap.
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Original URL: https://www.afr.com/wealth/personal-finance/the-inheritocracy-trap-and-why-it-might-be-killing-wealth-ambition-20251007-p5n0km
