Hinch on Home Ownership

[Neferti]

So neferti... why shouldn't people be able to use their own money or part of it at least to secure a home loan?

I did NOT say that they should NOT be able to access their own superannuation contributions, it is compulsory saving and their money... however, I did read (but cannot find the article) whereby somebody did the sums and using your superannuation savings after, say, only 10 years of working, IF you are 30+ now, won't be enough to get a 20% deposit, especially in Sydney. What sort of 20% deposit would you need in Sydney?

When I lived in Sydney (St Ives) back in the 1980s, you could buy a nice 3-bedroom house for $60,000.

[Rorschach]

$60,000? Good luck with that.

Super isn't guaranteed to even make a profit each year even if you don't have to pay large administration fees.
You are just as well off having paid off a house which will have accumulated value over the years and as I have shown gives you the step up into the market and if done properly even more wealth.

The ABC and others need to stop spouting unsubstantiated Labor rubbish... those saying these things are usually in Super funds trying to stop people borrowing from them.

And yes nef people should be allowed to spend their savings, after all it is their money.

[Super Nova]

Isn't the issue that the government runs the risk that people will use the super to pay off their primary home (or buy one) and the primary home is not means tested for pension. (or worse, piss the money up against the wall)

So they pay off the home and then will depend on the state for a pension when the super should have been used to support them.

I am all for using the pension to do what you want, it is our money Ralf. The government runs the risk of supporting people that they hoped they would not have to when Keating implement his super policies.

[Rorschach]

Super is our savings... it is forced savings... imagine having money you cant access when you desperately need to. Imagine if all our bank accounts were inaccessible until we were nearly dead?

[Black Orchid]

NSW has gone to the dogs and the rest of Australia will follow.

[Rorschach]

Isn't the issue that the government runs the risk that people will use the super to pay off their primary home (or buy one) and the primary home is not means tested for pension. (or worse, piss the money up against the wall)

So they pay off the home and then will depend on the state for a pension when the super should have been used to support them.

I am all for using the pension to do what you want, it is our money Ralf. The government runs the risk of supporting people that they hoped they would not have to when Keating implement his super policies.

NOPE.....

BTW Super was never originally meant to replace the pension.

[Neferti]

Isn't the issue that the government runs the risk that people will use the super to pay off their primary home (or buy one) and the primary home is not means tested for pension. (or worse, piss the money up against the wall)

So they pay off the home and then will depend on the state for a pension when the super should have been used to support them.

I am all for using the pension to do what you want, it is our money Ralf. The government runs the risk of supporting people that they hoped they would not have to when Keating implement his super policies.

NOPE.....

BTW Super was never originally meant to replace the pension.

But Howard's Baby Bonus was meant to produce more kids to eventually help PAY for the Age Pension of those who never thought about saving for their Retirement .... wasn't it?

I presume that the effect was MORE kids produced by Welfare recipients who will, eventually, become like their parents and grandparents ... On The Dole.

It was a STUPID idea by Howard/Costello.

[Rorschach]

Nope....

[IQS.RLOW]

Isn't the issue that the government runs the risk that people will use the super to pay off their primary home (or buy one) and the primary home is not means tested for pension. (or worse, piss the money up against the wall)

So they pay off the home and then will depend on the state for a pension when the super should have been used to support them.

I am all for using the pension to do what you want, it is our money Ralf. The government runs the risk of supporting people that they hoped they would not have to when Keating implement his super policies.

NOPE.....

BTW Super was never originally meant to replace the pension.

Compulsory super was never introduced to give retired workers more comfort in retirement.
It may have been sold like that but Govts don't work like that.

It was introduced to reduce the burden on the budget, pure and simple.
It was designed for one thing alone. To reduce the pension and growing pressure on the social security budget.

[LEFTWINGER supreme]

Isn't the issue that the government runs the risk that people will use the super to pay off their primary home (or buy one) and the primary home is not means tested for pension. (or worse, piss the money up against the wall)

So they pay off the home and then will depend on the state for a pension when the super should have been used to support them.

I am all for using the pension to do what you want, it is our money Ralf. The government runs the risk of supporting people that they hoped they would not have to when Keating implement his super policies.

NOPE.....

BTW Super was never originally meant to replace the pension.

Compulsory super was never introduced to give retired workers more comfort in retirement.
It may have been sold like that but Govts don't work like that.

It was introduced to reduce the burden on the budget, pure and simple.
It was designed for one thing alone. To reduce the pension and growing pressure on the social security budget.

Pity the libs opposed 15 % and let retirees take it as a lump sum , so they could spend the lot , then line up for pension