Retirement
In a recent article I wrote about some options to tap into the built-up equity in your home in the event you need more funds to live off in your retirement.
To recap, a Pension Loan Scheme (PLS) is a form of 'reverse mortgage' offered by the federal government.
Basically, it allows borrowers, (over Age Pension age), to receive... | | Read More |
According to the Grattan Institute, it takes a decade to save for a 20% deposit for an average home compared to six years back in the early 1990s.
And these savings may still not be enough to secure your first home.
So, it's no wonder 'kidults' are now turning to parents or even grandparents for help.
The bank of mum and dad ... | | Read More |
As a professional financial planner, I wish I had that proverbial dollar for every time I've been asked at that proverbial BBQ how much do I need in my super to retire?
And even before I've had a chance to respond, the other person comes back with their take "I've heard you need a million dollars at least".
Now, depen... | | Read More |
Without a doubt, for most people, their homes are the biggest asset they possess.
If you have been diligently paying off your mortgage and possibly even contributing extra payments here and there when you could afford to and coupled with rising home prices your home represents a substantial wealth resource especially if you are lucky enough ... | | Read More |
|
