Put it on the house: the promising, largely untapped potential for Australian home equity in retirement

Abstract

Concern for the financial welfare of Australian retirees is growing with the first of Australia's generation of baby boomers starting to retire and government and community resources for the aged being increasingly stretched. The financial wellbeing of some retirees may be tested even though most baby boomers own their principal place of residence. This paper examines the potential role that home equity can take in supporting retirement lifestyles in Australia, the present gap in appropriate financial products, decumulation phase planning and consumer awareness of the options in this area.