retvilldotnet: financial

Showing posts with label financial. Show all posts

Friday, 20 March 2020

Household Leverage at Record High

Household leverage is at record highs, meaning record property risk, writes @CallumDRFoote as AMP economist makes radical call that virus will hit house prices 20% #auspol https://t.co/VWL73XycwM
— 💧Michael West (@MichaelWestBiz) March 19, 2020

Older Australians Face Financial Disaster

There are aspects of modern life that can drive an unsuspecting older Australian toward financial disaster. Redundancy at a mature age, illness and renting are three, loan/lease retirement villages can do the same. #vicpol #auspol #acccgovau pic.twitter.com/IJtZZHXWBi
— Les Scobie (@retvilldotnet) February 27, 2020

Tuesday, 30 July 2019

Financial Reality of Retirement Village Living

The financial reality for many retirees from living in a retirement village. In-going $800,000 capital turns to almost dust after just 10 years (industry average) of occupancy. #retirementvillage #auspol @neighbour_s @sdanck @adele_ferguson @MichaelWestBiz @acccgovau pic.twitter.com/x8Mw3u9l5s
— Les Scobie (@retvilldotnet) July 26, 2019

Wednesday, 3 July 2019

New Financial Lending Laws?

New Finance Laws? You don't have to repay a loan until you find a new lender Seem a little ridicuous? well yes it is but it is a law protecting Retirement Village Operators @DanielAndrewsMP @michaelobrienmp #vicpol #springst @abc730 @MarleneKairouz @consumervic Retirees suffer $$ pic.twitter.com/Bcvh9z9yKG
— Les Scobie (@retvilldotnet) July 1, 2019

Financial Destiny of Retirement Village Resident

Interesting to compare the financial destiny of a Victorian retiree on entering a #retirementvillage as opposed to that of a profit driven operator. And all this comes with the assistance of State Government legislation. #vicpol @abc730 @acccgovau @MarleneKairouz @michaelobrienmp pic.twitter.com/vPpWoDLTXC
— Les Scobie (@retvilldotnet) July 1, 2019

Sunday, 30 June 2019

Definition of a Retirement Village

The Victorian legislated definition of a retirement village requiring the payment
of an 'in-going' amount without the transfer of property ownership is a major
contributor to that financial and emotional harm suffered by retirees. pic.twitter.com/BY0Mcvn96v
— Les Scobie (@retvilldotnet) June 27, 2019

Function of Government

The role of government is to create an environment for commerce to function whilst at the same time protecting retirees and particularly vulnerable retirees from both financial and emotional harm emanating from that function.

The Victorian Retirement Villages Act 1986 provides the environment for commerce to function but fails to fully protect retirees from financial and emotional harm as a result of it.

The Victorian legislative definition of a retirement village in demanding the payment of an 'in-going' amount without the transfer of property ownership is a major contributor to that financial and emotional harm suffered by retirees.