erm ... im looking at those charts once you pull out super and paying down mortgage since 1998 savings rate is actually negative .... how is this is not cause for alarm ? that reflects more what i hear in that people rely on credit and capital gains etc to get them through to retirement
and with principal payments and super included it is ONLY *edit* circa 10% ???????
unprecedented savings rates? who are we kidding? oh yeah... the australian population...
Building up equity is building up equity regardless of how it is done.
Although I'd say equity inside super is worth far less than equity outside super.
The truth will set you free. But first, it will piss you off. --Gloria Steinem AREPS™
Building up equity is building up equity regardless of how it is done.
Although I'd say equity inside super is worth far less than equity outside super.
In the context of saving though – I believe it is always misreported/interpreted as money in ADDITION to paying off your principal and super and then likes of Skamy use it to say we are better off than ever – when in fact according to that chart after super and mortgage, people are just getting into plain old debt and relying on making up the loss later in life.
edit: this always makes me then wonder about the whole household net worth of $700k+ ... if only making 10% saving a year including the principal and super - a household on pretty high salary rate of $150,000 would take around 45 years to get there without capital gains...
now if using the figures f that household is 60% of that worth so $420,000... say it doubled in the time the owner had invested $240,000 in principle
so 7000,000 - 240000 thats $460,000 or 30 years of equity for a household on $150,000 PA saving at 10%
for a household on the median figure of income the time would be double ( around 60 years - more time than the house is in the workforce )
now in that time super would have grown knocking a few years off but i have trouble making the figures add up - its a bit off topic but i would be interested to see it spelled out for a simpleton in these figures ..
I showed you the chart used by the RBA from ABS data you showed a piece of made up nonsense from Macrobusiness.
You did not rely on the ABS data at all that is a total fabrication.
You showed a chart which removed one of the most tax effective and commonly used forms of savings ie super. The government encourages savings in super with a range of tax incentives and many many people maximised the amount they were allowed to save in super especially when large co-payments were allowed.
It suited Macrobusiness to pretend that people had not taken advantage of the extra savings in super limits as it painted a false sad story to sell to its gullible readership.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
The data is ABS dearie me I showed you the chart used by the RBA from ABS data you showed a piece of made up nonsense from Macrobusiness.
You did not rely on the ABS data at all that is a total fabrication.
You showed a chart which removed one of the most tax effective and commonly used forms of savings ie super. The government encourages savings in super with a range of tax incentives and many many people maximised the amount they were allowed to save in super especially when large co-payments were allowed.
It suited Macrobusiness to pretend that people had not taken advantage of the extra savings in super limits as it painted a false sad story to sell to its gullible readership.
You could not find your hanky as you still seem to be dribbling...
I provided the RBA link and data. You did not show me any RBA chart. Old age is getting to you... :-)
erm ... im looking at those charts once you pull out super and paying down mortgage since 1998 savings rate is actually negative .... how is this is not cause for alarm ? that reflects more what i hear in that people rely on credit and capital gains etc to get them through to retirement
and with principal payments and super included it is ONLY *edit* circa 10% ???????
unprecedented savings rates? who are we kidding? oh yeah... the australian population...
Massive, over the past few years we have upped our savings as retirement no longer seems so far away. There are two tax effective ways to save. Firstly investment property with an offset account, we get yield, capital gains and ability to leverage. Secondly is to maximise the amount we are allowed to pay into super, as there are distinct tax advantages to this. We also did a little building project.
Currently all of our savings goes into the offset or super apart from an emergency bank savings amount. You cannot pretend that people don't save and that this is not an effective way to save - this is the modern world we live in. People just don't pile up money in bank accounts or under the bed anymore.
It is just ridiculous for Macrobusiness to remove super from their silly chart.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
You either made a massive error and thought you were posting the selective Macrobusiness chart that excluded super, on the second post or you are one of the most deceitful posters on the board.
You enjoy making your ageist ad hominems, but it seems that this old bat has a much better handle on government statistics than you do.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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