retvilldotnet

Saturday, 4 May 2019

Danger for Retirement Village Residents

DANGER DANGER for #retirementvillage residents from falling property prices. Although only a lessee access to capital gains also means responsibility for any capital losses. @DanielAndrewsMP @MarleneKairouz @michaelobrienmp #vicpol @abc730 @acccgovau @sdanck @GladysB #NSWpol @smh pic.twitter.com/6PnF0GexpW
— Les Scobie (@retvilldotnet) May 2, 2019

Dilemma for Cashed Up Retirees

Dilemma for cashed up retirees. Downsize to a Retirement Village, take a Residential Tenancy and invest the capital or stay in the Family home with a home care package. The $$$ financial answer is in the chart below. @sdanck @acccgovau @abc730 @Bowenchris @ScottMorrisonMP #auspol pic.twitter.com/EqxXxifW82
— Les Scobie (@retvilldotnet) May 1, 2019

Victorian Legislators Fail Retirees

Victorian legislators failed retirees in 2017 and are continuing to fail them. Victoria is the only state not to make any meaningful retirement village reforms. @DanielAndrewsMP @MarleneKairouz @michaelobrienmp #vicpol @abc730 @acccgovau @sdanck @theprojecttv pic.twitter.com/H7fzss8X8s
— Les Scobie (@retvilldotnet) April 30, 2019

Decimation of Retiree Capital

A Loan-Lease Retirement Village can decimate retiree capital over a short period. From an ingoing amount of $800,000, not for ownership just a right to occupancy, to $293,948 on departure in just 7 years. @MarleneKairouz @michaelobrienmp #vicpol @sdanck @acccgovau @abc730 pic.twitter.com/YKo2AkOA1c
— Les Scobie (@retvilldotnet) April 29, 2019

Feared Regulator

"Without a feared regulator, people with questionable ethics will push the line", equally applicable to the #retirementvillage industry. If you don't understand this you shouldn't be a legislator. @DanielAndrewsMP @MarleneKairouz #vicpol @sdanck @acccgovau @michaelobrienmp pic.twitter.com/A0YeNMcmOD
— Les Scobie (@retvilldotnet) April 26, 2019

Retirement Village or Residential Tenancy or Family Home

WHAT WOULD YOU DO? - Downsize to a Retirement Village, take a Residential Tenancy or stay in the Family home. The $$$ financial answer is in the chart below. @MarleneKairouz @michaelobrienmp #vicpol #auspol @sdanck @acccgovau @theprojecttv @abc730 @GladysB #NSWpol pic.twitter.com/0lrXAdd4nW
— Les Scobie (@retvilldotnet) April 25, 2019

Retirement Villages Or Residential Tenancy

Interesting comparison between the cost of living in a #retirementvillage and just renting. Extras in a retirement village like a pool, village hall etc certainly come at a high cost to retirees. @MarleneKairouz @michaelobrienmp #vicpol @acccgovau #auspol @abc730 'Lest We Forget' pic.twitter.com/X52E6VQ6B7
— Les Scobie (@retvilldotnet) April 24, 2019

Retirement Villages Negative Impact On Aged Care Budget

NSW Minister @Matt_KeanMP says he likes #retirementvillages because they come at no cost to government. He should clarify 'state' govt as they become a cost to 'federal' for aged care from retiree capital destruction. @GladysB @NSWLabor #NSWpol @acccgovau @abc730 @neighbour_s pic.twitter.com/1JLhEdVUK6
— Les Scobie (@retvilldotnet) April 23, 2019

Retirement Village can Decimate Retiree Capital

A Loan-Lease Retirement Village can decimate retiree capital over a short period. From an in-going amount of $800,000, not for ownership just for occupancy, to $293,948 on departure in just 7 years. @MarleneKairouz @michaelobrienmp #vicpol @sdanck @acccgovau @abc730 @acccgovau pic.twitter.com/vE6UBGgeny
— Les Scobie (@retvilldotnet) April 22, 2019

Retirees Can Wait 18 Months

.@AnnastaciaMP @MickdeBrenni government seduced by #retirementvillage industry requiring retirees to wait up to 18 months for their money back on leaving the village, all on a property they do not actually own. Where do they live whilst waiting, on the streets? @DebFrecklington pic.twitter.com/NzNY8Wst2l
— Les Scobie (@retvilldotnet) April 22, 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.