"Is it really even worth holding super or investments anymore as the person who accumulated not a cent often via cheap public housing ends up better off as you wouldnt believe the places they give some single men these days most people who get super wouldnt be eligible but wouldnt be able to afford what these public housing tenants get"
Low income households who are already at or near the poverty line generally don't have a choice. By definition, they will mostly not ever be in a position to meaningfully save for the future outside mandatory super. Which brings me to another point. "Is it really even worth holding super..." You do realise getting paid super is compulsory right? It's not like you can choose not to have an employer pay you super. It's only if you are a business owner you can not pay yourself super.
What your question asks is should you invest/save or stay as a low income household because you perceive the net benefits to be better. If you have anything more than the basic means save for the future, the numbers I have provided indicate that you will be better off if you do that. It's not hard to understand.
You say my figures ignore security of tenure in the rental market. This is not strictly speaking correct. Security of tenure is a relative intangible. Individuals will value it differently. Even if you were to ascribe a value to it in terms of money spent finding alternative accommodation and moving house, you would have to be spending tens of thousands annually to be worse off using the calculations above. I have rented for years and never been forced to move. Neither have any of my friends who rent. I know that this is not always the case for people. For low income households, security can be poor with 50% of these households moving on average, annually. But this is not the point. You are talking about the merit of a deliberate move to a lower standard of living to avoid this rather than what might otherwise be achievable to if you have the means to save for the future.
I'm just letting people know that taking this strategy when you don't have to is pretty stupid because it will lock you into a low standard of living when you could have been far better off. If you think you are going to be happier, well fine. Go and do it then. No skin off my nose. Let's touch base in 30 years and see who is enjoying their standard of living more.
