Ep 153 - Brendan Coates | Accessing super for home buying? Do it or don’t?


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By Chris Bates and Veronica Morgan. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Welcoming back Brendan Coates to discuss the implications of the government plan for home buyers to access super to assist in purchasing property. Brendan is the Household Finance Program Director at the Grattan institute, he has focused on a wide variety of topics including tax reform, housing and superannuation. In this episode the team and Brendan discuss the implications of accessing super and that if putting your super towards a property purchase will get you ahead or put you behind?Here’s what we covered:

  • What has the biggest impact on retirement - owning home or superannuation?
  • What is not working for the system currently?
  • How have first home buyers struggled in the past 30 years?
  • Why should people stop and think before taking out super?
  • If people do access super, what kind of property will they get pushed into?
  • What would make taking out super a very bad idea?
  • What is the appropriate level of super contributions?
  • Is this super scheme for the people or for the tax revenue?
  • What does the forecasted return look like in 30 years/?

RELEVANT EPISODES:Episode 124 | Brendan Coates Episode 89 | Brendan Coates

GUEST LINKS:Article 1: Australia needs new-generation thinking on retirement incomes Article 2: 5 key takeaways from the Retirement Income ReviewArticle 3: Five reasons the Turnbull Government should not allow superannuation to be spent on a home Article 4: The latest ideas to use super to buy homes are still bad ideas

HOST LINKS:Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: https://linktr.ee/veronicamorgan

Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au

Send in your questions to: questions@theelephantintheroom.com.au

EPISODE TRANSCRIPT: Please note that this has been transcribed by half-human-half-robot, so brace yourself for typos and the odd bit of weirdness…This episode was recorded in November, 2020.


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