About 80 per cent of Australian retirees are homeowners, which is comforting but only part of the story. While future generations will have sizeable superannuation balances, given the super guarantee was introduced only in 1992 – when it was 3 per cent, many baby boomers do not.
The result is that many homeowner retirees and pre-retirees are asset rich – having enjoyed rising property prices over the decades – but income poor.
Are there solutions?
In this edition of the Retirement Affordability Index™, we asked our experts to explain the strategies to boost your retirement income. Plus, we revisit that topic that won’t go away – will the home one day be subject to the Age Pension assets test?