How to retire early... or simply survive

[PZ99]

Increase the pension... that's a good one. Greece is the word!

 

[Toyota Lexcen]

Just work your way through it all like people doing now

 

[sptrawler]

Increase the pension... that's a good one. Greece is the word!

The pension is indexed every 6 months, guaranteed.

Don't know what you're on, but it isn't reality.

 

[PZ99]

The pension is indexed every 6 months, guaranteed.

Don't know what you're on, but it isn't reality.

Indexed to... Telstra? LOL

I'm just adding to all the other conspiracy theories about the Boogie man from the ALP and super disappearing into the ether. Got any more?

 

[sptrawler]

Indexed to... Telstra? LOL

I'm just adding to all the other conspiracy theories about the Boogie man from the ALP and super disappearing into the ether. Got any more?

No it's indexed to CPI or average weekly wages, whichever is the greater.
I thought you would be better researched, before you started hurling insults?
Funny how I miss read you.

Also you may laugh at the Mum and Dad Telstra investors, but not only have they lost their capital, Silly Billy wants to take their franking credit.
But I can see you're sympathetic. LOL

 

[Toyota Lexcen]

That's good. Do they do public housing for seniors also?

 

[IFocus]

Because they won’t be a burden on the tax payer claiming a pension.
The tradie can also take advantage of the same situation as I did back
In the day —— tradie with Property ——- .I and my company pay Tax plenty of tax.
Personal tax
Company tax
Payroll tax
Fringe benefits tax
GST
PAYE tax
Plus a number of Duties
Just paid $12000 Stamp duty on a truck
Which my staff use as a tool of trade.

Bugger all help for business
The guys who employ everyone. We aren’t the enemy we are the guys who put EVERYTHING on the line
We stuff it up and we go Broke. Everyone we employ get another job!
Who’s got most at risk?
Oh all my staff are $ 3-8 per hr above the award because I want to keep the best
8 of 26 employees have been with me for 6+years
And I’m pretty dumb only passed year 10 after repeating it!

End of rant.

I am dead against the big end getting tax breaks but happy for the gov to throw money at small business

 

[PZ99]

No it's indexed to CPI or average weekly wages, whichever is the greater.
I thought you would be better researched, before you started hurling insults?
Funny how I miss read you.

Also you may laugh at the Mum and Dad Telstra investors, but not only have they lost their capital, Silly Billy wants to take their franking credit.
But I can see you're sympathetic. LOL

What insults?

The reality is it's the Coalition that are a threat to your super - not Labor.
Look at the record > 2007 increased the preservation age.
2013 scrap the $500 super rebate for low income earners.
2016 caps super contributions.

But it's all Bill Shorten's fault, as usual.

So let's cut the crap mate

 

[Humid]

If you own your own home on a full pension is it really that good a life style?
I honestly have know idea

 

[sptrawler]

What insults?

The reality is it's the Coalition that are a threat to your super - not Labor.
Look at the record > 2007 increased the preservation age.
2013 scrap the $500 super rebate for low income earners.
2016 caps super contributions.

But it's all Bill Shorten's fault, as usual.

So let's cut the crap mate

Nice change of subject, you didn't know the pension was automatically indexed, made it a personal insult.
Now try and backfill the hole, you dug.
I thought you had more talent than that.

 

[sptrawler]

If you own your own home on a full pension is it really that good a life style?
I honestly have know idea

Yes it is I know plenty of pensioners, and if they don't have a gambling problem and don't smoke. They can still afford the cruising.

 

[sptrawler]

That's good. Do they do public housing for seniors also?

As far as I know, elderly get housing priority, as do single mothers etc.
People in a real disadvantaged position, can jump the queue for public housing.

 

[PZ99]

Nice change of subject, you didn't know the pension was automatically indexed, made it a personal insult.
Now try and backfill the hole, you dug.
I thought you had more talent than that.

I know very well how the pension works. But your sense of humour evaporated when I posted some satire not unlike yours. There's no point in accusing me of a personal insult when I've done no such thing. It now appears this debate has been hijacked by yourself for the sake of some good ole fashioned Labor bashing. I haven't changed the subject, my posts have been on topic all the way.

Maybe I should use your logic and pull you up for insulting pensioners who smoke and gamble ?

But I'm more interested in the topic and my comment stands - the Coalition were against superannuation from the start and they had every opportunity to improve the model during the Howard years by increasing the contribution as originally planned by Keating. Instead they gave us inflation and several interest rate rises in a row after promising to keep them low. This is in addition to their continual attack on penalty rates for weekend workers.

If you want to retire, or simply survive, you are better off avoiding another three years of a Turnbull Govt sabotaged by a back-bench-has-been who was the worst PM this country has ever seen.

 

[Toyota Lexcen]

when you get 2 pensions for 1 household its pretty good.

when you down to 1 pension it can be "survive" only, but can always get pension loans scheme or reverse mortgage

 

[sptrawler]

I know very well how the pension works. But your sense of humour evaporated when I posted some satire not unlike yours. There's no point in accusing me of a personal insult when I've done no such thing. It now appears this debate has been hijacked by yourself for the sake of some good ole fashioned Labor bashing. I haven't changed the subject, my posts have been on topic all the way.

If you know how the pension works, then the crack about TLS wasn't required. Also the crack about the increase in the pension wasn't true, ala Greece insinuation.
I'm not hijacking anything, just stating the issues as I see them, that is what a debate is.
I'm not against Labor at all, if they could come up with viable sensible policy, that encouraged endeavour and effort, I would be onboard in a flash.
Just because you feel I'm making adverse comment against Labor, doesn't mean it is incorrect.
If you can tell me some of the good policy, they enacted, when in Government I will concede to it. But all I've witnessed is policy on the run, and what policy is enacted is poorly implemented. IMO Unfortunately I'm allowed to have that opinion.

Maybe I should use your logic and pull you up for insulting pensioners who smoke and gamble ?

You can pull me up on that issue as much as you like, how can you justify the public funding smoking, which adds billions to our health budget, or the public purse funding gambling which destroys families.
I can certainly say I don't want my tax paying for smoking or gambling, with a clear conscience

But I'm more interested in the topic and my comment stands - the Coalition were against superannuation from the start and they had every opportunity to improve the model during the Howard years by increasing the contribution as originally planned by Keating. Instead they gave us inflation and several interest rate rises in a row after promising to keep them low. This is in addition to their continual attack on penalty rates for weekend workers.

Believe it or not, I think it was Hawke/Keating who removed the statute from the books, that 6% of tax will be with held for welfare including pensions. Then they introduced the super system, weird how things change over time.

If you want to retire, or simply survive, you are better off avoiding another three years of a Turnbull Govt sabotaged by a back-bench-has-been who was the worst PM this country has ever seen.

You obviously haven't lived through many P.M's, Turnbull isn't my idea of a P.M, but god help us if Bill gets in. IMO

 

[Humid]

So basically my choice is take the franking credits or the pension
Both come from the same place is that right?

 

[sptrawler]

So basically my choice is take the franking credits or the pension
Both come from the same place is that right?

No, the pension will be there.
Not so the franking credits. lol

 

[PZ99]

If you know how the pension works, then the crack about TLS wasn't required. Also the crack about the increase in the pension wasn't true, ala Greece insinuation.

The Greece comment was if everyone blew their money to qualify for the pension this country would go broke. There's no mystery to that scenario. It's a recipe for joining the unsustainable debt burden that other countries have done. That's why the super system was set up in the first place.

As for the TLS comment, basically, get a grip. You would have to very PC to be offended by that remark. What happens if it goes up 10 - 15% next year? Peace out, Bro.

I'm not hijacking anything, just stating the issues as I see them, that is what a debate is.
I'm not against Labor at all, if they could come up with viable sensible policy, that encouraged endeavour and effort, I would be onboard in a flash.
Just because you feel I'm making adverse comment against Labor, doesn't mean it is incorrect.

It doesn't mean it's correct either - have a look at your post #203 and feel free to dissect the truth from the bull. Just how is this smug, deceitful, FW with no humility Bill Shorten planning to strip away your savings? The franking credit policy is being restored back to its original model. Anyone with their eggs in one basket who are grossly affected by a reverse change need to look hard at their situation. We were warned 3 years ago that it's busting the budget so it needs to be dealt with. Or everyone will just have to pay more tax to pay for it.

Who knows? It might even grow your capital if the companies invested more in the business instead of giving away their entire EPS on dividends.

If you can tell me some of the good policy, they enacted, when in Government I will concede to it. But all I've witnessed is policy on the run, and what policy is enacted is poorly implemented. IMO Unfortunately I'm allowed to have that opinion.

Encouraging endeavour and effort. OK. Dropped workchoices for starters. Whether that means anything to you I don't know. What I do know is workchoices cost a lot of workers a truck load of their income and one guy I know lost his accommodation because of the $300 a week that was stripped from his income. He couldn't pay his rent anymore.
Medicare surcharge tax relief for workers over $50K was another policy they got right.
There's probably others but those two suit this topic the best.

You can pull me up on that issue as much as you like, how can you justify the public funding smoking, which adds billions to our health budget, or the public purse funding gambling which destroys families.
I can certainly say I don't want my tax paying for smoking or gambling, with a clear conscience

That's an overreaction. Most people don't destroy their family with gambling. Smokers and the Crown Casino add billions to the budget every year with tax. Banning these people from the pension citing the above is just utopian and a bit too Kommy for my liking. I noticed you left out the drugs and alcomohol

Believe it or not, I think it was Hawke/Keating who removed the statute from the books, that 6% of tax will be with held for welfare including pensions. Then they introduced the super system, weird how things change over time.

And? The super accounts have 2.5 trillion invested. Could've been a lot more if not opposed by the Liberal Party. If they had their way we would have nothing. We know this because, as previously mentioned, they are still attacking it.

You obviously haven't lived through many P.M's, Turnbull isn't my idea of a P.M, but god help us if Bill gets in. IMO

That's what people said about Hawke, Keating and Howard. I've lived through more prime ministers than I care to remember.

 

[sptrawler]

The Greece comment was if everyone blew their money to qualify for the pension this country would go broke. There's no mystery to that scenario. It's a recipe for joining the unsustainable debt burden that other countries have done. That's why the super system was set up in the first place.

Most will blow their money, that is a fact, doesn't mean you should punish pensioners that saved, maybe you should reward them that would be novel.

You are correct, the super system was set up to make sure Australia had savings, but it was because our banks nearly went broke after the 1987 stock market crash.
Because we had no savings, the banks were overly exposed to overseas lending, that was called in.

As for the TLS comment, basically, get a grip. You would have to very PC to be offended by that remark. What happens if it goes up 10 - 15% next year? Peace out, Bro.

Well you say that, but I find it offensive, believe it or not a lot of Mum and Dad investors bought Telstra, and they did get a nice little dividend + they got a franking credit.
Which was a nice little plus for them. Their money has gone down the toilet, their dividend is going down the toilet and initially, before Bill got a slap around the ears, their franking credit was going down the toilet also.
While those on a full pension enjoy indexing, free this, free that. Maybe I'm too PC or maybe you are just showing no empathy, who knows?
If TLS goes to 10-15% those Mums and Dads have done there money, and they will be on the pension, as most will.

It doesn't mean it's correct either - have a look at your post #203 and feel free to dissect the truth from the bull. Just how is this smug, deceitful, FW with no humility Bill Shorten planning to strip away your savings? The franking credit policy is being restored back to its original model. Anyone with their eggs in one basket who are grossly affected by a reverse change need to look hard at their situation. We were warned 3 years ago that it's busting the budget so it needs to be dealt with. Or everyone will just have to pay more tax to pay for it.

Well it took me a while to get back to that post, it wasn't to you it was to willy1111, shame you couldn't keep things on track with posts we interacted with.
However I will post to it, because I don't have any problem with my personal beliefs.

The franking credits are being restored back to its original policy, the original super policy was enacted to get Australians saving, because they weren't.

To replace a welfare policy, that had already been ripped off by Government.

Then was put forward as a way of replacing wage rises, to supplement peoples pensions, now they have to change the words from supplement, to supplement and or replace.
Get off the grass, there's only one person here who needs to get a grip. IMO and it isn't me. lol

Encouraging endeavour and effort. OK. Dropped workchoices for starters. Whether that means anything to you I don't know. What I do know is workchoices cost a lot of workers a truck load of their income and one guy I know lost his accommodation because of the $300 a week that was stripped from his income.
Medicare surcharge tax relief for workers over $50K was another policy they got right.
There's probably others but those two suit this topic the best.

Workchoices lost the Howard Government the election, so how you can say it had a major effect is nonsense, Labor were in for two terms after that.
Now everyone is complaining about the "fair work commission" which is stacked with union representation.
So the other claim to fame, for the Labor Party after two terms of office, with a complete majority is medicare surcharge relief for workers over $50k.

That's an overreaction. Most people don't destroy their family with gambling. Smokers and the Crown Casino add billions to the budget every year with tax. Banning these people from the pension citing the above is just utopian and a bit too Kommy for my liking.

Well I'm not going to give that a response, which may give it some credibility.

And? The super accounts have 2.5 trillion invested. Could've been a lot more if not opposed by the Liberal Party. If they had their way we would have nothing. We know this because, as previously mentioned, they are still attacking it.

Which obviously could be stolen by the Government, or the retail funds, or the financial planners, or the union based industry funds. Who knows, it looks like everyone wants a piece of the action.
If I was still working, I would be saying fluck the 12% in super, give me a pay rise, at least then it is my pocket and I can decide what happens to it.
Bill has made super, the most shakey investment ever, put your money in now, and maybe you will get it back later. FFS absolute dick.

That's what people said about Hawke, Keating and Howard. I've lived through more prime ministers than I care to remember.

Obviously you've learnt FA in the process, best you ignore me. LOL

 

[PZ99]

Most will blow their money, that is a fact, doesn't mean you should take from pensioners that saved.
You are correct, the super system was set up to make sure Australia had savings, but it was because our banks nearly went broke after the 1987 stock market crash.
Because we had no savings, the banks were overly exposed to overseas lending, that was called in.

No the system was set up because the Keating Govt knew the aged population would be an increasing burden on the budget. Which is exactly what's happening.

Well it took me a while to get back to that post, it wasn't to you it was to willy1111, shame you couldn't keep things on track with posts we interacted with.

Ahh OK. I'm not allowed to respond unless you are quoting me.
Show me the rule stipulating that, please.

The franking credits are being restored back to its original policy, the original super policy was enacted to get Australians saving, because they weren't.
To replace a welfare policy, that had already been ripped off by Government.
Then was put forward as a way of replacing wage rises, to supplement peoples pensions, now they have to change the words from supplement, to supplement and or replace.
Get off the grass.

Get off the grass yourself. It has always been supplement and /or replace because as previously mentioned, the pension is being funded by a dwindling pool of workers.

Workchoices lost the Howard Government the election, so how you can say it had a major effect is nonsense, Labor were in for two terms after that.
Now everyone is complaining about the "fair work commission" which is stacked with union representation.
So the other claim to fame, for the Labor Party after two terms of office, with a complete majority is medicare surcharge relief for workers over $50k.

Workchoices was rolled back in Labor's first term and workers got their penalty rates back.

How is that nonsense?

Well I'm not going to give that a response, which may give it some credibility.

Smart move. Pity you didn't think of that when you made the below dumb comment.

Obviously you've learnt FA in the process, best you ignore me. LOL

That's a good idea - but not before I ram your insult back to where it came from. LOL

Well you say that, but I find it offensive, believe it or not a lot of Mum and Dad investors bought Telstra, and they did get a nice little dividend + they got a franking credit.
Which was a nice little plus for them. Their money has gone down the toilet, their dividend is going down the toilet and initially, before Bill got a slap around the ears, their franking credit was going down the toilet also.
While those on a full pension enjoy indexing, free this, free that. Maybe I'm too PC or maybe you are just showing no empathy, who knows?
If TLS goes to 10-15% those Mums and Dads have done there money, and they will be on the pension, as most will.

The irony is that when I made the TLS comment it was in response to a pot shot from yourself and you've gone and thrown several more prepubescent style insults since then. So either you can't see the double standards in your comments or you're just trivialising for the sake of nothing.

It's an own goal either way.