Coposit Making the Headlines: Retiree’s $2.3M Savings Sparks Debate on Property Market

A story of an 84-year-old retiree from New Zealand has stunned Australians, revealing how he saved an impressive $2.3 million during his working life.

In an interview with Coposit, filmed on a park bench in Sydney and shared on TikTok, the man explained his journey to financial success. Working as a truck and public transport driver in Wellington, he attributed his wealth to "working hard and investing in property."

"I invested some money, which I trebled, and that gave me a chance to build on," he said. The retiree purchased his first house 30 years ago when the property market was significantly more affordable, a fact he acknowledged: "The market was a lot better than what it is now."

Despite today’s rising cost of living and expensive real estate, the retiree believes financial success is still achievable. "If they want to work, they can make money," he remarked, sharing advice to "save up, capitalise with the bank, and sell within 18 months when prices rise."

While his story inspired some, others debated its relevance in today’s economic climate. Social media users pointed out generational differences, noting that the property market has become significantly more challenging.

This thought-provoking conversation highlights the evolving financial landscape and Coposit’s mission to make property ownership more accessible for Australians, regardless of the market.

Start your property journey today with Coposit and create your own success story!