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Pension Dilemma potential solution

  • 10-05-2011 3:10pm
    #1
    Idbatterim
    Registered Users, Registered Users 2 Posts: 18,262 ✭✭✭✭Idbatterim


    How about when an individual or couple reach retirement age, they have the option of selling and leaseback on their house? to make this attractive to the investor whom ever that it is, they buy the house at say 10% below market value? they then rent it back for say 10% above the normal rent? If you think about it, we are paying out huge pensions, and in most cases the kids or whoever will inherit everything anyway! Most people by the time they retire are sitting on an asset that they could release equity with and enjoy a comfortable retirement, without any potential expense to the taxpayer... I don't see why pension arrangements, especially those in the Public sector or civil service should be my problem or why I should subsidise them as a private sector worker...


Comments

  • #2
    Azariah Enough Hunter
    Posts: 0 CMod ✭✭✭✭ Azariah Enough Hunter


    I don't even know where to start :confused:


  • #3
    srsly78
    Registered Users, Registered Users 2 Posts: 7,157 ✭✭✭srsly78


    I'd start by pointing out that Irish peoples obsession with owning property got us into this mess into the first place.


  • #4
    Welease
    Registered Users, Registered Users 2 Posts: 3,834 ✭✭✭Welease


    Equity release schemes are widely available already.


  • #5
    thebman
    Closed Accounts Posts: 10,012 ✭✭✭✭thebman


    srsly78 wrote: »
    I'd start by pointing out that Irish peoples obsession with owning property got us into this mess into the first place.

    yes but it isn't going away is it?

    What really caused the problem was lack of transparency and regulation in the Irish property market I would say anyway.


  • #6
    jimmycrackcorm
    Registered Users, Registered Users 2 Posts: 14,387 ✭✭✭✭jimmycrackcorm


    srsly78 wrote: »
    I'd start by pointing out that Irish peoples obsession with owning property got us into this mess into the first place.

    There's nothing inherently wrong Irish people wanting to ow their own property; after all people bought houses prior to the property boom.


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  • #7
    RichardAnd
    Registered Users, Registered Users 2 Posts: 4,010 ✭✭✭RichardAnd


    jimmycrackcorm wrote: »
    There's nothing inherently wrong Irish people wanting to ow their own property; after all people bought houses prior to the property boom.


    No, there isn't, you're quite right. However, there is a difference between a desire and an obsession. A desire is normal and healthy, an obsession with getting onto the fallacy of the property ladder was the ruination of many a hapless soul.

    To put it another way, I want to marry a girl who looks like Shakira but I don't obsess over a goal that's unlikely to happen.

    Though you never know ;)


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