Politics The economy is set up to screw young people

[Seeds]

Australians told to monetise the family home to fund retirement

The number of Australians tapping the government’s reverse mortgage-style product to help fund their retirements rose almost 40 per cent in the past year as calls increase for retirees to monetise the A$1.3 trillion (S$1.16 trillion) they have tied up in property. Read more at The Business Times.

www.businesstimes.com.sg

I’m close to retirement. If I live 10-15 years longer -it’s often more and more than that - if the $2.5 million current main residence property might conservatively be $6 million then 20% of that $1.2 million available equity easily beats downsizing now and attempting to keep up with investments.
And as I ‘only’ had 10% super for 20 years the super pot isn’t what it could be. This generational media war always forgets many boomers super is really not what is adequate. Boomers will have to manage the super-property-life expectancy going forward

Boomers got paid their super. They didnt have to wait to retirement to recieve it. And they invested it in housing whose prices went through the roof.

 

[peetoo]

Boomers got paid their super. They didnt have to wait to retirement to recieve it. And they invested it in housing whose prices went through the roof.

Not…..all…..boomers

I guess you missed that bit.

Very rich boomers rorting super is not the case with most boomers

And of course applies to gen x too



And large increases in value of principal residence is accidental investment. Just don’t get the need for it to be in the assets test