Saturday, 30 June 2018

Grandma & Grandpa Are Corporate Financiers

In a great article at https://www.michaelwest.com.au/ Michael West goes behind the veil of the retirement village industry.

He points out that Grandma and Grandpa have become, unbeknown to them, corporate financiers through their lease/licence of a unit in a retirement village.

"It would be interesting to know just how many retirees know, when they finally alight upon a leafy retirement village to while away their twilight years, that they are using their nest eggs to make a large, unsecured, interest-free loan to a property developer."

This article is a must read for all legislators, current and prospective residents of a retirement village.

Read the full story here - https://www.michaelwest.com.au/retirement-villages-how-grandma-and-grandpa-become-corporate-financiers/



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