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Recent age pension changes impact non pensioners too

It’s great to see the age pension increase recently, but there are now additional challenges and opportunities. One is a change in aged care costs, and another is what the pension rise means for your own situation.

The distortions in our retirement system

The system has incentives that run counter to policy objectives, especially for the age pension taper rate, family home and access to super before it's assessed for the age pension. Here's how to fix these problems.

The five most common topics for advisers and their clients

An explanation of five areas of most interest to financial advisers and their clients, including home equity access, downsizing, Senior Cards, work tests and new transfer balance caps - all worth knowing about.

Solutions to unite the three pillars of retirement funding

Retirement solutions uniting the three pillars of retirement funding - the age pension, mandatory super and voluntary savings - are essential. Global experts discuss solutions that might work for Australia.

Stop treating the family home as a retirement sacred cow

The way home ownership relates to retirement income is rated a 'D', as in Distortion, Decumulation and Denial. For many, their home is their largest asset but it's least likely to be used for retirement income.

Survey responses on pension eligibility for wealthy homeowners

The survey drew a fantastic 2,000 responses with over 1,000 comments and polar opposite views on what is good policy. Do most people believe the home should be in the age pension asset test, and what do they say?

10 reasons wealthy homeowners shouldn't receive welfare

The RBA Governor says rising house prices are due to "the design of our taxation and social security systems". The OECD says "the prolonged boom in house prices has inflated the wealth of many pensioners without impacting their pension eligibility." What's your view?

Ralston on accessing equity in the family home

A member of the Retirement Income Review explains the focus on home equity. For homeowners at retirement, homes represent three to four times as much wealth as superannuation, but the average age at which mortgages are paid out has increased from 52 to 62.

Home equity access and four challenges of retirement

The Australian retirement funding system relies on three pillars: the age pension, superannuation and voluntary savings. Most retirees have their wealth tied up in the family home, so what role does it play?

Rethinking home equity and retirement funding

Using the value of home equity built up over many years seems an obvious part of retirement planning, but reverse mortgages have been unsuccessful in Australia. Is it time for a fourth pillar of retirement income?

Reverse mortgages: short-term gain, long-term pain

As the population ages and property prices rise rise, equity in owner homes has more potential as a significant source of 'retirement income'. But an ASIC report highlights complexities in reverse mortgages not well understood.

Three key retirement factors other than super

Retirement planning is more than superannuation. No use having lots of money if health is poor, and eventually, most of us will face the need for aged care. And don't ignore home equity release when cash is needed.

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How much do you need to retire comfortably?

Two commonly asked questions are: 'How much do I need to retire' and 'How much can I afford to spend in retirement'? This is a guide to help you come up with your own numbers to suit your goals and needs.

Meg on SMSFs: Clearing up confusion on the $3 million super tax

There seems to be more confusion than clarity about the mechanics of how the new $3 million super tax is supposed to work. Here is an attempt to answer some of the questions from my previous work on the issue. 

The secrets of Australia’s Berkshire Hathaway

Washington H. Soul Pattinson is an ASX top 50 stock with one of the best investment track records this country has seen. Yet, most Australians haven’t heard of it, and the company seems to prefer it that way.

How long will you live?

We are often quoted life expectancy at birth but what matters most is how long we should live as we grow older. It is surprising how short this can be for people born last century, so make the most of it.

Australian housing is twice as expensive as the US

A new report suggests Australian housing is twice as expensive as that of the US and UK on a price-to-income basis. It also reveals that it’s cheaper to live in New York than most of our capital cities.

Welcome to Firstlinks Edition 566 with weekend update

Here are 10 rules for staying happy and sharp as we age, including socialise a lot, never retire, learn a demanding skill, practice gratitude, play video games (specific ones), and be sure to reminisce.

  • 27 June 2024

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