Peter Can I suggest you reread IGR 1, 2 and 3.... The increased actual numbets of aged, balloons over the next few decades our pension payments increase significantly for the first time in history. This ageing wave is unprecended and so, many things will need to change, like millionaires getting a full pension, as many as there may or may not be.
Two issues remember, the baby boomer bulge at 5.2 million and increased lonjevity. The baby boom is somewhat temporary.
Peter Can I suggest you reread IGR 1, 2 and 3.... The increased actual numbets of aged, balloons over the next few decades our pension payments increase significantly for the first time in history. This ageing wave is unprecended and so, many things will need to change, like millionaires getting a full pension, as many as there may or may not be.
Two issues remember, the baby boomer bulge at 5.2 million and increased lonjevity. The baby boom is somewhat temporary.
The government raises taxes in many ways and it spends it in many ways.
You haven't given me a compelling reason why aged pensions won't be fully funded and some other expenditure trimmed back, you have only told me what suits your political views.
Any expressed market opinion is my own and is not to be taken as financial advice
You haven't given me a compelling reason why aged pensions won't be fully funded and some other expenditure trimmed back, you have only told me what suits your political views.
What gets taxed and what gets trimmed depends on who is in power and who is paying the majority of the tax. Generally, the demographic in power change government taxing and spending so their demographic pays less tax and receives more benefits. The demographics not in power get the opposite effect.
All economic policy in Australia now rests on high immigration. That might become a political problem in the future, if it isn't already.
I don't doubt it... however governments continue to spend more than they take in.. at some point the sacred cow will be slaughtered too....
There are some people who seem angry and continuously look for conflict. Walk away, the battle they are fighting isn't with you, it's with themselves.
The first lesson of economics is scarcity: There is not enough of anything to satisfy all who want it. The first lesson of politics is to disregard the first lesson of economics. ~ Thomas Sowell.
Who was the fool, who the wise man, who the beggar or the Emperor? Whether rich or poor, all are equal in death.
I don't doubt it... however governments continue to spend more than they take in.. at some point the sacred cow will be slaughtered too....
I reckon the current government will let bracket creep do a lot of the heavy lifting over the next few years. In reality, if we keep muddling through as we have been, we'll mostly be fine. I think the worst is behind us.
I reckon the current government will let bracket creep do a lot of the heavy lifting over the next few years. In reality, if we keep muddling through as we have been, we'll mostly be fine. I think the worst is behind us.
I'd like to think so but I don't trust governments
Bracket creep may be a slow thing coming with wage rises becoming much, much smaller than what people have been used to of late...
There are some people who seem angry and continuously look for conflict. Walk away, the battle they are fighting isn't with you, it's with themselves.
The first lesson of economics is scarcity: There is not enough of anything to satisfy all who want it. The first lesson of politics is to disregard the first lesson of economics. ~ Thomas Sowell.
Who was the fool, who the wise man, who the beggar or the Emperor? Whether rich or poor, all are equal in death.
Still, getting 3 IPs of income (minus costs of course), plus having some super, plus a part pension still adds up to a far better retirement than most Australians will enjoy.
I cant see you getting any pension with an investment property. Unless it is a federal employee pension that is?
I agree with some of this, which is why I think 3 IPs would be nowehere near enough. A dozen gets closer to the (my) mark.
Like I always say, you have to get there first. Those old landlords had a plan too, and executed it during the boom times. Have a look around stinky, when was the last time house and especially unit prices (your type of investment) had grown in price as feebly as now? You would have to go back to the 1920's to see what we are experiencing, admit it.
And where is the hope for the next decade? Or the next? No. It's all turning to shit all across the world stinky, just like the perma bears have been predicting since a decade ago. The wheels are falling off, because of the debt!
They lied to you. Debt does matter. It's the reason every nation is floundering and the economies of many are collapsing. You just can't borrow forever stinky and payback time has arrived. 12 units sounds good but the plan is impossible unless the economy returns to real growth.
Shadow was hopelessly wrong about the Gold Bull Market. What else is he wrong about?
The single aged pension is close to $22K pa. And you get discounts on shite of course. So I reckon it's worth at least $23K pa to a bloke. Tax free of course.
And you need a few assets to generate that sort of income after tax. And don't get it stress free like you do on the pension.
Plus you get to have a few bucks on top - That would give you a min of $35K pa tax free coming in. (Which isn't bad given I reckon I can live on $20K pa given I'm a debt free homeowner.)
My dad is a lifelong Socialist and reckons I'm a bit silly to not be very intentionally trying to organise my finances so I can get my snout into the tax payer trough.
Between him and Pauk, I reckon they've finally ground me down - At least to the point where as much as I personally reckon it's all totally fucked, yep, I am going to look into it all a bit more.
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