Averting Poverty and Government Budgetary Pressure Through Releasing Home Equity: A Safe and Informed Solution for Baby Boomer Homeowners
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Author(s)
Johnson, Di
Brimble, Mark
Worthington, Andrew
Year published
2016
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Homeowner baby boomers have relatively high levels
of wealth in their homes and relatively low levels of
superannuation. At the same time, non-homeowner
baby boomers, especially lone retirees, appear to be in
increasing need of income support such as that provided
by the Age Pension. Both of these groups will need
income support mechanisms during their retirement.
In this context, policy momentum has been building
in Australia for the inclusion of home equity in the
retirement income mix. To address that need, this paper
outlines a generation-targeted solution for supplementing
baby boomer retiree income through efficiently ...
View more >Homeowner baby boomers have relatively high levels of wealth in their homes and relatively low levels of superannuation. At the same time, non-homeowner baby boomers, especially lone retirees, appear to be in increasing need of income support such as that provided by the Age Pension. Both of these groups will need income support mechanisms during their retirement. In this context, policy momentum has been building in Australia for the inclusion of home equity in the retirement income mix. To address that need, this paper outlines a generation-targeted solution for supplementing baby boomer retiree income through efficiently drawing on housing equity. The proposed new product – Home Equity Accounts – differs from existing related products by being government-backed, securitised and incorporating financial planning.
View less >
View more >Homeowner baby boomers have relatively high levels of wealth in their homes and relatively low levels of superannuation. At the same time, non-homeowner baby boomers, especially lone retirees, appear to be in increasing need of income support such as that provided by the Age Pension. Both of these groups will need income support mechanisms during their retirement. In this context, policy momentum has been building in Australia for the inclusion of home equity in the retirement income mix. To address that need, this paper outlines a generation-targeted solution for supplementing baby boomer retiree income through efficiently drawing on housing equity. The proposed new product – Home Equity Accounts – differs from existing related products by being government-backed, securitised and incorporating financial planning.
View less >
Journal Title
Financial Planning Research Journal
Volume
2
Issue
1
Copyright Statement
© 2016 Griffith University. The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
Subject
Banking, Finance and Investment not elsewhere classified