..............?This is the most predictable disaster in Australia?s history.?
He also had a good line about compulsory superannuation. Something Ross Gittins at The Age may wish to consider before he writes another ?Stop whingeing, you?ve never had it so good article.?
Mr. Collyer said something along the lines of: not only do the current generation of people in their 20s, 30s and 40s have to fund their own retirement through compulsory superannuation, but they?ve also got to fund the retirement of the baby-boomers who are starting to retire.
We couldn?t agree more. Those in their 50s and 60s who bang on about the selfish ?me? generations would do well to remember baby-boomers aren?t the financial geniuses they think they are.
They?ve just copped a lucky break?
Lucky to have bought a house in the 1970s and 1980s at the beginning of the credit-fuelled housing boom.
For 20 or 30 years they?ve convinced themselves of their financial prowess ? ?Buy and hold property and you can?t go wrong son/daughter.?
Years of brainwashing has resulted in their kids taking out bigger and bigger mortgages, all thanks to the financial advice of parents who said, ?You can?t go wrong with property.?
In fact, most of the letters we?ve received have been from folks in their 20s or 30s who say their parents have pressured them for years into taking out a mortgage........
