Seems heavily biased, you guys thoughts? www.news.com.au/realestate/news/average-australians-need-more-than-just-compulsory-super-to-survive-life-after-work-and-that8217s-where-property-comes-in/story-fnd91nhy-1226696421862
This is one of the few good things the Hawke/Keating socialist government did. The rest they did with borrowed money, all $96 Billion of it. The levy should have been to 12 and than 15% years ago, and MUST go to that rate to be fully effective in reducing the claims on the taxpayer. Singapore has had it for decades. OC
I assume that if super contributions were raised 6% then wages would be cut by about the same? Also if you trust the government with your life savings, you're gonna have a bad time.
I believe the part about needing $130k a year just to survive, $500 per week grocery bills and $2000 per week rent. It will be a very difficult world that our kids grow up in. Whether property investment is the answer, some will agree, others not. However we all have to live somewhere, better to have your own home paid off than be at the mercy of landlords and paying exorbitant rents.
Exactly, I think the most important thing is to own your own home. Sure it's not easy but the sooner you take the plunge the better. As for the $130k pa after about 20 years of 2-4% increases per year I think we'll be around that number anyways. I think this is just scare mongering by a bunch of idiots. Everoyne should have investments, but if you feel like your being pushed into something or something's not right, make sure you do your research
I will one day be invested in property too....but the more this sort of thing is pushed, the more that people are pushed into thinking that property is the only means of income in retirement. Interest rates are hurting self funded retirees now but their model of living off the interest and dividends of a huge nest egg of shares and term deposits they've built up over their lives has merit. Theres however no churn in that model, beyond renewing term deposits and occassionally switching from one ASX100 share to another. How can the real estate agents, financial planners, predatory lenders, mortgage brokers and investment journalists make money off that? Come on retirees, share the love (Sarcasm)
History shows the young of the family cared for the old, or the old lived from bank savings measured as gold, or from property rents. History may not repeat but it rhymes, as someone said.
