Australia's largest stock trading and investment forum Australia's #1 stock forum

More travel possible, page-42

First 42 Last

Share
Profile

Follow
Dave R

58,089 Posts.

16

19/09/20

18:41

Post #: 47475681
Share

Originally posted by pintohoo: ↑

hmmm - depends on if you consider having an asset you call home so bloody big with a huge price ticket - makes one wealthy

personally, I don't think it does - because wealth is only wealth if you can capitalize on it (and, pretty quickly) - if the 'wealth' is in the home and you sell the home - there goes your income stream.

I remember a friend who had a fairly expensive property in the country several years back and he had a stroke - couldn't work and his wife was full time caring for a few years (he's since recovered) - he said it was dreadfully hard because they didn't have any income and the property asset value didn't allow them to get any social security at all

he said - what do they expect you to do - rip a few planks off the wall and sell them whilst you wait to get better

selling the place would have been long and hard unless they took a pittance - then, they would have had no home and no income later if he recovered

we sure have some pretty dumb systems

Expand

Yep the entire assets and income testing needs scraping.
It only penalizes the honest and/or poorly informed.
The rest find clever ways (honest and dishonest) to get around it.
Plus it requires a huge bureaucracy to administer.
Upvote

Reply

There are more pages in this discussion • 4 more messages in this thread...

First 42 Last