Hi Bec, for someone with $400k super so eligible for as good as full pension, I've thought could be worth considering to rent using income from Super, get full pension+ rental assistance, vs struggling on pension to pay ever increasing insurance ( talking nth Qld here) and other household costs. With no requirement to leave a bequest and the super would be there as emergency funds if needed. Vs using that $400 to buy a home.
I understand that rental can be insecure but owning a home is not a guarantee either sometimes....I'd be interested in your thoughts please
Good article Bec. I have a female relative in their 60s in this situation who is very anxious about retiring and job security as they age. They always planned to move away to a lower cost area on retirement but as regional areas become more unaffordable that likely will not be a viable a option, particularly as they will need to work beyond the pension age. I worry about it all too
My understanding is that after 60, you can access your superannuation by ceasing an employment arrangement rather than having to declare that you are retiring.
Hi Bec, for someone with $400k super so eligible for as good as full pension, I've thought could be worth considering to rent using income from Super, get full pension+ rental assistance, vs struggling on pension to pay ever increasing insurance ( talking nth Qld here) and other household costs. With no requirement to leave a bequest and the super would be there as emergency funds if needed. Vs using that $400 to buy a home.
I understand that rental can be insecure but owning a home is not a guarantee either sometimes....I'd be interested in your thoughts please
Good article Bec. I have a female relative in their 60s in this situation who is very anxious about retiring and job security as they age. They always planned to move away to a lower cost area on retirement but as regional areas become more unaffordable that likely will not be a viable a option, particularly as they will need to work beyond the pension age. I worry about it all too
My understanding is that after 60, you can access your superannuation by ceasing an employment arrangement rather than having to declare that you are retiring.
Is this correct?