baby boomers are being encouraged to sell their home so a young family with kids can make better use of the larger home. The issue being discussed on media outlets.
Just the latest barb aimed at those of us who have the audacity to have a home larger than we really need, we are coming further under attack from those who want to change the world as we know it. I know that nothing stays the same but the pace of change is staggering. I guess it must be our fault as we did give birth to those who came up with this latest gem.
Sold mine earlier this year and built a smaller home on a cottage block. No grass, just a few pot plants. A lock up and go type home. Part of the plan to travel wider and longer
1. So far the carrots are Unripened. You down size. The value has to be lesser then the value of your current home. To be eligible to be (Stamp Duty Free) on your new digs.
2. All, All, profits Have to be channelled into and approved retirement fund so you CAN"T go out, and buy straight out, a new rig.
3. The government WANTS you to do this, to save them paying you a Pension.
4 Its not rocket Science. Pull the wool over who's EYES.
Hey Jim
-- Edited by Hey Jim on Saturday 21st of November 2015 09:23:01 AM
In the main cities we have at least 600k in our homes which is not counted as an asset for pension..
Keep that in mind..
If you have super ? Any interest from super is tax free..
Keep that in mind..
If your children are looking for a hand out ? What handout did you get 40 or so years ago ?
Don't EVER feel gaulty .. Do what ever suites you. & spouse ..
