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Many Australians will retire in debt

 
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Old 07-05-2008, 10:08 PM   #1 (permalink)
Sim
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Many Australians will retire in debt

The 7.30 Report - ABC

Quote:
Within three decades the number of Australians over 65 will more than double and they'll make up almost a quarter of the population. As a result, governments have been urging older Australians to stay in the work force longer so economic growth won't slow.

But many will have no choice, unlike their parents who might readily have been able to expect to pay the house off before retirement. The latest official figures suggest that Australians increasingly are carrying big mortgages into their twilight years.
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Old 08-05-2008, 09:24 AM   #2 (permalink)
Mark Laszczuk
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They are carrying debt into retirement because they aren't paying down the loan. If they dilligently paid down the loans, they wouldn't be in debt. But I like seeing these stories - it creates more opportunities for me.

Mark
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Old 08-05-2008, 11:59 PM   #3 (permalink)
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If they are asset rich where is the problem?
I intend to retire with a large debt but all my IP's will be cashflow +ve by then and I can tap into the equity to live on...
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Old 09-05-2008, 09:51 AM   #4 (permalink)
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Twilight nightmare for future retirees - AustraliaWide - ABC

Quote:
In less than three decades the number of Australians over 65 will double and many of them are expected to carry their mortgage debt into their twilight years. The government has been encouraging older Australians to stay in the work force longer so economic growth won't slow, however many will have no choice but to continue working due to large mortgages.
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