use 16 to calculate how much is enough for retirement

Originally posted by cafa ↑

Hi Noddy10

You are clearly one of those in the middle. Those at the top end get a huge benefit and would save, one way or another, to fund their own retirement. For these folks a huge gift from the taxpayer.

And those who don't have enough in their super $700k or what ever the current value is, and still get a full pension, another huge gift from the tax payer. They get all the tax relief and still get the pension!

For most folks on a part pension it is still a gift as they get some pension and all the concession benefits to boot.

For those like you who have enough to not get the pension, and at the same time are not super well off, well you still have had the advantage of the tax relief,and you will still get the pension one day as your assets start to run down.

Mind you so is negative gearing, and a host of other interesting ways to reduce tax. All gifts from the taxpayers of Aus.

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i haven't said anything about my own situation so you don't know whether i'm in the middle of anything.

what i'm referring to is the rhetoric that was being pushed by some very leftist journo's in the melbourne age & smh before the last election. it was targeted at younger people who were already angry about home affordability (quite understandably) and fed into this anger by pushing the line that superannuation along with negative gearing was one of the many evils being foisted upon australian youth by baby boomers. this seems to have gotten some traction and you now see people (such as yourself) trotting out this line about super being something that one group of lucky people receive at the expense of another (young people). it's false, disingenuous and unnecessarily divisive in my opinion.

it would be better if there was someone explaining to young australians that they'll be old one day too and it is very much in everybody's interests for us to try and maintain what was the best retirement system in the world and they'll pay less tax along the way if people are motivated and incented to fund their own retirement. that buying into this "gift" horseshit and allowing super to be slowly ruined would be cutting off your nose to spite your face.

yes, there was an issue with a small group of people running up enormous super balances but you could have easily dealt with them without doing things like introducing 70 pages of legislation around balance transfer caps alone.

my super is something that i earned and contributed to and managed in order to achieve financial independence and not need handouts from taxpayers in retirement and i have paid a ton of income tax along the way. my super isn't a gift from anybody.