Retirement should be an exciting stage of life. Australians are living longer, healthier lives now, and can look forward to enjoying up to thirty years in retirement. More time with family and friends, a chance to embark on new passions or enjoy old hobbies.
Long, healthy lives will enable Australians to spend a greater part of their retirement living
independently. Research has shown that people who are able to spend their retirement in their own homes generally experience better health and wellbeing. We can expect to live – and need to plan for – around 25-30 years in retirement.
Unfortunately, retirement isn't looking so golden for many Australians. Compulsory superannuation was introduced only after many retirees were well into their working lives. Consequently, many don’t have sufficient savings to see them through up to thirty
years of active retirement, even with the Age Pension.
If you’re like most Australian retirees, the
majority of your wealth is probably tied up
in your family home. Your Household Capital™, or home equity, is a valuable resource that could be used to improve your retirement funding and enhance your retirement lifestyle.
After all - your home can be both the best place to live and the right way to fund retirement.
What you get in the guide
This guide has been designed to answer all the questions you might have about using home equity to improve your retirement funding. It explores a range of topics, including:
- The amount of money required to fund a comfortable retirement
- An overview of Australia's retirement funding system and the role of home equity
- An explanation of different ways you can access home equity; downsizing, home reversion schemes and reverse mortgages
- An in-depth review of our Household Loan
- Analysis of the purposes for which retirees may use a Household Loan
- Details of important consumer protections
- Frequently asked questions, which cover off a range of eligibility requirements.
Who should download the guide?
You should download this guide if:
- You are aged 60 plus
- You’re already retired or are planning to retire in the near future
- You have equity savings in your home
- Your would like to improve your retirement funding.
What are you doing with your Household Capital?