Stop blaming is the 1st step

[numbercruncher]

I think alot of people dont give the Billions floating around in SMSFs much consideration on Housing prices.

How can you compete with a system designed by the boomer generation that benefits them more than anyone, this Generation has already raised their family, own their homes and have big incomes that are being salary sacrificed at 15pc tax, it has to go somewere.

Im in the process of setting up a SMSF with 3 of my closest, we will look at buying property with the fund soon and could probably purchase a freehold property every three years if we wanted to work on it, Im sure there is loads of SMSFs that purchase several properties each year.

The deck is stacked

 

[Julia]

I think alot of people dont give the Billions floating around in SMSFs much consideration on Housing prices.

How can you compete with a system designed by the boomer generation that benefits them more than anyone, this Generation has already raised their family, own their homes and have big incomes that are being salary sacrificed at 15pc tax, it has to go somewere.

Im in the process of setting up a SMSF with 3 of my closest, we will look at buying property with the fund soon and could probably purchase a freehold property every three years if we wanted to work on it, Im sure there is loads of SMSFs that purchase several properties each year.

The deck is stacked

Oh, God, here we go again. Everything that is wrong is always the fault of the baby boomers. Most of the baby boomers I know are supporting their aged parents and getting their kids through university and are working long hours to do so. This cliched generalisation that all baby boomers are filthy rich and it has all just fallen into their laps is wearing pretty damn thin.
Just as silly as saying all Gen Y are slack, grasping and selfish.

And if a despised baby boomer might make a suggestion, I'd be very careful and get some good advice before participating in any group purchase of property, within or outside of a Super Fund. The property scene is littered with failures from this notion.

 

[Sean K]

Oh, God, here we go again. Everything that is wrong is always the fault of the baby boomers. Most of the baby boomers I know are supporting their aged parents and getting their kids through university and are working long hours to do so. This cliched generalisation that all baby boomers are filthy rich and it has all just fallen into their laps is wearing pretty damn thin.
Just as silly as saying all Gen Y are slack, grasping and selfish.

And if a despised baby boomer might make a suggestion, I'd be very careful and get some good advice before participating in any group purchase of property, within or outside of a Super Fund. The property scene is littered with failures from this notion.

Here, here Julia.

 

[numbercruncher]

I dont understand why you take my references to the boomer generation so personally, if your a boomer and not salary sacrificing you are playing the game wrong, im not begrudging you personally or the boomer generation as a whole so please dont take offence as you do.

And for the record ive never said that all boomers are filty rich, I know for fact that 59pc of retirees in Qld rely on the aged pension, which at 250pw buy 5/8ths of #### all and gos no where.

But i also know the remaining 41pc have a tax system that allows them to accumulate vast tracks of wealth relatively easily if they so chhose.


And thanks for the tip, but its all good !

Have a nice day!

 

[Julia]

I'm not at all taking it personally, Numbercruncher.
I am simply fed up with these silly generalisations which you have just explained yourself are ill founded. Thank you for making my point so clearly.

 

[theasxgorilla]

But i also know the remaining 41pc have a tax system that allows them to accumulate vast tracks of wealth relatively easily if they so chhose.

I find the same tax system benefits me, somewhere around the cusp of Gen-Y/X. The 64 million dollar question, as they say, is whether this is long-sighted shift in ideals by Australia, and hence something I (WE) can look forward to benefiting from in the future. Or whether over the next 35 years we can expect something to change it.

Where are people placing their bets?