Asset test a bad idea

Updated April 23 2018 - 11:13pm, first published April 30 2015 - 5:54pm

After all, why reduce your lifestyle today by paying more for interest, rates and maintenance over decades? Then, when retired, only to have your pension reduced, even though you paid these extra costs investing in your home. Thus forcing you in retirement to sell your home brick by brick. There is no free lunch of an "extra" $6000 a year; it is just reducing your value in your own home, as it is completely cashed out. Ultimately, if your home is your main asset, there is nothing to pass on to the next generations to give them a head start securing their future retirement.

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