The 1/3 is bullshit. 20% of people are self funded for a start.
You're an idiot. All self funded means is that they have too much invested in super etc to qualify for a pension. It doesn't mean the return on those investments keep the above the poverty line.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
You're an idiot. All self funded means is that they have too much invested in super etc to qualify for a pension. It doesn't mean the return on those investments keep the above the poverty line.
Asset and Income test...doh!
If they have millions in Super, they are not poor. Dear me....
Imagine the typical drone self funded pensioner who was sucked into buying a house in sydney for $800, 000 two years ago. They are probably getting $360 a week in income to live on.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
Can't you think? If they are over 60 and working, then not in poverty. 20% of retirees are self funded, not in poverty
A whole lot better than you obviously. There are many thousands of over 60 year olds who haven't retired and don't have a job, so they exist on welfare or whatever they receive from a part time job.
Australia is a wealthy country, and it costs a lot to exist here. What some people have as income here would be a small fortune in an impoverished country, but it's not here.
Any expressed market opinion is my own and is not to be taken as financial advice
A whole lot better than you obviously. There are many thousands of over 60 year olds who haven't retired and don't have a job, so they exist on welfare or whatever they receive from a part time job.
Australia is a wealthy country, and it costs a lot to exist here. What some people have as income here would be a small fortune in an impoverished country, but it's not here.
It is not here because housing is in a bubble and the cost of living is high because of it. Thanks.
And what of your lack of comments on... "Ian Yates from the Council on the Aging says that ranking isn't entirely a fair reflection. IAN YATES: This is one little glitch we have with this particular index, the measures pension coverage at 83 per cent in Australia. Of course the people who don't get the pension in Australia don't because they're well-off. LUCY CARTER: But Ian Yates says the report is correct in pointing out that one-third of older Australians are living below the poverty line. IAN YATES: Of course on the Australian federal pension, if you don't have any other income, and there are full pensioners who have little or no other income when they retire, they would fall below that poverty level. It also reflects the severe poverty of people who are 60-plus and unemployed and trying to live on Newstart, which is well under the poverty level and has quite draconian conditions attached to getting it." http://www.abc.net.au/worldtoday/content/2015/s4308985.htm
Still sticking to the (edit as per stubby comment from 'your') 33%? And do you understand this is a before-housing measure?
"Some of the major conclusions drawn from this paper are summarised below. Before-housing measures of poverty need to be complemented with the appropriate after-housing measures. Before-housing measures tend to inflate the poverty rates of older cohorts, single-person households and widows and widowers. These groups do not have notably high poverty rates on the after-housing measure since a substantial proportion have little or no housing costs. Older cohorts and widowers tend to have low levels of subjective poverty and financial stress." https://www.dss.gov.au/about-the-department/publications-articles/research-...eries/number-29-income-poverty-subjective-poverty-and-financial-stress?HTML
"Age The relationship between age and income poverty differed according to the measure used. On the before-housing measure, the two oldest cohorts (over 65 years) had the highest poverty rates, whereas these age cohorts were not so distinctive on the after-housing measure. The youngest age cohort (18 to 24 year-olds) had relatively high levels of income poverty on both measures, and 25 to 34 year-olds had the lowest rates of before-housing income poverty. Multivariate analyses showed that age was positively related to before-housing income poverty but negatively related to after-housing income poverty. This reflects the generally lower housing costs of older Australians. These findings indicate that using both before and after-housing measures provide a more comprehensive account of the relationship between age and income poverty."
You get aggrieved when posters identify the ideas you advocate for as "your ideas". But then you turn around and try to tag Peter with "your 33%", for having the temerity to post a news article about research that offends your preconceptions about the finances of the aged.
Unlike one of your typical posts, Peter's OP contained no added advocacy or editorial comment of his own.
You get aggrieved when posters identify the ideas you advocate for as "your ideas". But then you turn around and try to tag Peter with "your 33%", for having the temerity to post a news article about research that offends your preconceptions about the finances of the aged.
Unlike one of your typical posts, Peter's OP contained no added advocacy or editorial comment of his own.
You're a hypocrite, Pauk.
Noted. My bad. You are correct. Edited.
I have no misunderstanding about pre and post housing incomes and wealth of the people over 60.
Pauk you strike me as the kind of wierdo who would run and publish one of those one man papers in a bid to give your single issue life more credibility.
Pauk you strike me as the kind of wierdo who would run and publish one of those one man papers in a bid to give your single issue life more credibility.
The one 'newspaper' I assuredly personally know of was called "Bubblepedia as Driven to its Death Throes" - As published/edited by ThePauk/Demografix and R2M (being short for Revert to Mean) - Though Glenn Stevens probably had a bit of a subtle hand in underwriting its demise as well ...
It is not here because housing is in a bubble and the cost of living is high because of it. Thanks.
And what of your lack of comments on...
Still sticking to the (edit as per stubby comment from 'your') 33%? And do you understand this is a before-housing measure?
Paul I never read any posts that you make of more than a paragraph or two, I just don't have that much time to waste reading crap.
But yes I understand that the poverty test is income based and not asset based, and it doesn't include the family home, which of course it shouldn't.
Now please post your usual crap about wealthy pensioners living in $5M homes getting a part pension, which I also won't read if it's more than a paragraph long.
Love your use of colour, I didn't realise that you had an artistic flair.
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