array(1) { [0]=> &object(stdClass)#5948 (52) { ["id"]=> string(5) "16922" ["title"]=> string(122) "Are you being priced out of the market? Have you got the Tuesday blues? And are you ready for the upcoming super changes? " ["alias"]=> string(118) "are-you-being-priced-out-of-the-market-have-you-got-the-tuesday-blues-and-are-you-ready-for-the-upcoming-super-changes" ["introtext"]=> string(242) "

On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss whether owner-occupiers should withdraw from the property market, the effects of Tuesday blues on the ASX, upcoming super changes and more.

" ["fulltext"]=> string(936) "

Steve Waters, director of Right Property Group, chats about current property price movements and whether owner-occupiers are being priced out of the market.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into the Tuesday blues effect and the implications for Aussie investors.

And lastly, tax and super guru Timothy Munro talks about upcoming super changes and shares his handy checklist ahead of tax time.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["catid"]=> string(3) "302" ["created"]=> string(19) "2021-06-15 06:25:29" ["created_by"]=> string(4) "2404" ["created_by_alias"]=> string(0) "" ["state"]=> string(1) "1" ["modified"]=> string(19) "2021-06-15 08:26:44" ["modified_by"]=> string(4) "2404" ["modified_by_name"]=> string(12) "Robyn Tongol" ["publish_up"]=> string(19) "2021-06-15 08:26:44" ["publish_down"]=> string(19) "0000-00-00 00:00:00" ["images"]=> string(240) "{"image_intro":"images\/podcasts\/060421_Angel_Zhong_Steve_Waters_Timothy_Munro.jpg","float_intro":"","image_intro_alt":"","image_intro_caption":"","image_fulltext":"","float_fulltext":"","image_fulltext_alt":"","image_fulltext_caption":""}" ["urls"]=> string(121) "{"urla":false,"urlatext":"","targeta":"","urlb":false,"urlbtext":"","targetb":"","urlc":false,"urlctext":"","targetc":""}" ["attribs"]=> string(855) "{"article_layout":"","show_title":"","link_titles":"","show_tags":"","show_intro":"","info_block_position":"","info_block_show_title":"","show_category":"","link_category":"","show_parent_category":"","link_parent_category":"","show_associations":"","show_author":"","link_author":"","show_create_date":"","show_modify_date":"","show_publish_date":"","show_item_navigation":"","show_icons":"","show_print_icon":"","show_email_icon":"","show_vote":"","show_hits":"","show_noauth":"","urls_position":"","alternative_readmore":"","article_page_title":"","video_url":"","channel_id":"UCLBR-2LtTtui_WiRuEfW3qA","send":"0","test":"0","comments":"1","readingDiff":"3","schema_active":"0","schema_name":"","schema_description":"","schema_thumbnailUrl":"","schema_uploadDate":"","schema_duration":"","schema_contentUrl":"","schema_embedUrl":"","canonical_link":""}" ["metadata"]=> string(68) "{"robots":"","author":"","rights":"","xreference":"","metatitle":""}" ["metakey"]=> string(54) "priced, market, tuesday, blues, ready, upcoming, super" ["metadesc"]=> string(200) "On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss whether owner-occupiers should withdraw from the property market, the effects of Tuesday blues on the ASX" ["access"]=> string(1) "1" ["hits"]=> string(2) "25" ["xreference"]=> string(0) "" ["featured"]=> string(1) "0" ["language"]=> string(1) "*" ["readmore"]=> string(3) "936" ["ordering"]=> string(1) "0" ["category_title"]=> string(7) "Podcast" ["category_route"]=> string(17) "resources/podcast" ["category_access"]=> string(1) "1" ["category_alias"]=> string(7) "podcast" ["published"]=> string(1) "1" ["parents_published"]=> string(1) "1" ["lft"]=> string(2) "82" ["author"]=> string(12) "Robyn Tongol" ["author_email"]=> string(33) "[email protected]" ["parent_title"]=> string(9) "Resources" ["parent_id"]=> string(3) "300" ["parent_route"]=> string(9) "resources" ["parent_alias"]=> string(9) "resources" ["alternative_readmore"]=> NULL ["layout"]=> NULL ["params"]=> object(Joomla\Registry\Registry)#5943 (3) { ["data":protected]=> object(stdClass)#5939 (95) { ["article_layout"]=> string(14) "momentum:newne" ["show_title"]=> string(1) "1" ["link_titles"]=> string(1) "1" ["show_intro"]=> string(1) "0" ["info_block_position"]=> string(1) "0" ["info_block_show_title"]=> string(1) "1" ["show_category"]=> string(1) "1" ["link_category"]=> string(1) "1" ["show_parent_category"]=> string(1) "0" ["link_parent_category"]=> string(1) "0" ["show_associations"]=> string(1) "0" ["flags"]=> string(1) "1" ["show_author"]=> string(1) "1" ["link_author"]=> string(1) "0" ["show_create_date"]=> string(1) "0" ["show_modify_date"]=> string(1) "1" ["show_publish_date"]=> string(1) "1" ["show_item_navigation"]=> string(1) "1" ["show_vote"]=> string(1) "1" ["show_readmore"]=> string(1) "1" ["show_readmore_title"]=> string(1) "1" ["readmore_limit"]=> string(3) "100" ["show_tags"]=> string(1) "0" ["show_icons"]=> string(1) "1" ["show_print_icon"]=> string(1) "1" ["show_email_icon"]=> string(1) "1" ["show_hits"]=> string(1) "1" ["record_hits"]=> string(1) "1" ["show_noauth"]=> string(1) "0" ["urls_position"]=> string(1) "0" ["captcha"]=> string(0) "" ["show_publishing_options"]=> string(1) "1" ["show_article_options"]=> string(1) "1" ["save_history"]=> string(1) "1" ["history_limit"]=> int(10) ["show_urls_images_frontend"]=> string(1) "0" ["show_urls_images_backend"]=> string(1) "1" ["targeta"]=> int(0) ["targetb"]=> int(0) ["targetc"]=> int(0) ["float_intro"]=> string(4) "left" ["float_fulltext"]=> string(5) "right" ["category_layout"]=> string(14) "momentum:newne" ["show_category_heading_title_text"]=> string(1) "1" ["show_category_title"]=> string(1) "1" ["show_description"]=> string(1) "0" ["show_description_image"]=> string(1) "0" ["maxLevel"]=> string(2) "-1" ["show_empty_categories"]=> string(1) "0" ["show_no_articles"]=> string(1) "1" ["show_subcat_desc"]=> string(1) "1" ["show_cat_num_articles"]=> string(1) "0" ["show_cat_tags"]=> string(1) "1" ["show_base_description"]=> string(1) "1" ["maxLevelcat"]=> string(2) "-1" ["show_empty_categories_cat"]=> string(1) "0" ["show_subcat_desc_cat"]=> string(1) "1" ["show_cat_num_articles_cat"]=> string(1) "1" ["num_leading_articles"]=> string(2) "14" ["num_intro_articles"]=> string(1) "0" ["num_columns"]=> string(1) "0" ["num_links"]=> string(1) "0" ["multi_column_order"]=> string(1) "0" ["show_subcategory_content"]=> string(2) "-1" ["show_pagination_limit"]=> string(1) "0" ["filter_field"]=> string(4) "hide" ["show_headings"]=> string(1) "1" ["list_show_date"]=> string(9) "published" ["date_format"]=> string(0) "" ["list_show_hits"]=> string(1) "0" ["list_show_author"]=> string(1) "1" ["orderby_pri"]=> string(4) "none" ["orderby_sec"]=> string(5) "rdate" ["order_date"]=> string(9) "published" ["show_pagination"]=> string(1) "2" ["show_pagination_results"]=> string(1) "1" ["show_featured"]=> string(4) "show" ["show_feed_link"]=> string(1) "1" ["feed_summary"]=> string(1) "0" ["feed_show_readmore"]=> string(1) "0" ["sef_advanced"]=> int(1) ["sef_ids"]=> int(1) ["custom_fields_enable"]=> string(1) "1" ["show_page_heading"]=> NULL ["layout_type"]=> string(4) "blog" ["menu_text"]=> int(1) ["menu_show"]=> int(1) ["page_title"]=> string(70) "Retirement - Strategies and Guides for your Retirement Goals | nestegg" ["menu-meta_description"]=> string(191) "We all want to enjoy our retirement, so Nest Egg has compiled a dedicated section to superannuation options, retirement planning, and what you can do to get the most out of your golden years." ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(70) "Retirement - Strategies and Guides for your Retirement Goals | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2021-06-15 08:26:44" ["slug"]=> string(124) "16922:are-you-being-priced-out-of-the-market-have-you-got-the-tuesday-blues-and-are-you-ready-for-the-upcoming-super-changes" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(137) "/resources/podcast/are-you-being-priced-out-of-the-market-have-you-got-the-tuesday-blues-and-are-you-ready-for-the-upcoming-super-changes" ["image"]=> string(65) "images/podcasts/060421_Angel_Zhong_Steve_Waters_Timothy_Munro.jpg" ["image_alt"]=> string(0) "" } }

Latest Podcast

Are you being priced out of the market? Have you got the Tuesday blues? And are ...

Resources

There is $17.5 billion in lost and unclaimed super across ...

Retirement

Six uses for a reverse mortgage

By Reporter

September 08 2017
Share

Retirement

Six uses for a reverse mortgage

By Reporter
September 08 2017

Reverse mortgages allow home owners to unlock some of the money tied up in their property, which one lending specialist says can be useful for retirees needing access to a new source of regular cash flow.

Reverse mortgage, retirement savings, retirement planning, wealth management, aged care, Omniwealth, Ambreen Sumar

Six uses for a reverse mortgage

By Reporter

September 08 2017
Share

According to Ambreen Sumar, a residential and small business lending expert with financial services firm Omniwealth, most Australians over the age of 65 own their own home.

Some Australian home owners, Ms Sumar said, may be able to benefit from a reverse mortgage to meet some of their income and cash flow needs.

Reverse mortgages work by allowing homeowners to “borrow against the equity in [their] home”, without having to sell the property or lose out on property price growth.

“The loan can be used as a lump sum, regular income plan or a line of credit, so you have flexible options depending on your circumstances,” Ms Sumar added.

Ms Sumar said there were six ways that retirees for whom a reverse mortgage suits can use the money they free up in the process.

Income and pension top-up

For pensioners, a reverse mortgage can be used to improve cash flow, by providing a new regular source of monthly income to help cover medical costs and personal needs, Ms Sumar said.

“Having the additional monthly income that a reverse mortgage can provide means you can enjoy coffee with friends at your local café or indulge in a dinner outing now and then without worrying if you can make it to your next pension payment,” she said.

Home repairs and renovations

Ms Sumar noted that some retirees will need to make repairs or modifications to their homes as their medical needs change, while some older homes may additionally need repairs in order to maintain the property’s value, and that funds generated through a reverse mortgage can help with these changes.

Debt consolidation

A challenge facing many Australian seniors is meeting monthly repayments on credit cards and high-interest loans, Ms Sumar said.

“A reverse mortgage can be a cost-effective solution to the problem by refinancing your mortgage,” she added.

Refinancing existing home loans

Retirees that are still paying their mortgage after retirement will undoubtedly have a reduced income stream, making it difficult to maintain the lifestyle they were accustomed to before leaving the workforce, Ms Sumar said.

Reverse mortgages can be used by some retirees as a way to refinance their mortgage and help alleviate some of this pressure, she added.

Paying for aged care

Covering a refundable accommodation deposit can be difficult and expensive for many Australians, Ms Sumar said, and for many the sale of their family home may be the only way to do so.

Ms Sumar said a reverse mortgage can assist in meeting this fee, while still allowing retirees to maintain ownership of their home.

Travel and holiday expenses

Travelling can be expensive, and Ms Sumar said many Australian seniors miss out on trips they want to take due to the expense.

“Organising a reverse mortgage may help you climb aboard that cruise you’ve always dreamed of, fund a visit to your family interstate or overseas, or finally taking that tour through Europe with friends,” she said.

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates

Rate the article

Retirement Planning

‘Surprising and disappointing’ lack of innovation in retirement products

Despite an ageing population, the “surprising and disappointing” lack of retirement product information is holding members back, an industry expert has revealed. ...Read more

Retirement Planning

Aged care funding falls short of ‘once-in-a-generation reform’

The “once-in-a-generation” reforms have fallen short of the measures required to fix the neglected sector, industry experts have said. ...Read more

Retirement Planning

Aged care increases announced, but are they enough?

The government has announced more than $17 billion in assistance to the underfunded aged care sector over five years. ...Read more

Retirement Planning

Majority of Australians worry about their retirement

The majority of Australians believe in raising the aged pension as well as lifting the rate of superannuation to 12 per cent as they worry about having enough in retirement, new research has revealed....Read more

Aussies feel unsure about their retirement

Retirement Planning

1 in 2 Aussies feels unsure about their retirement

With the majority of Australians concerned about their financial future, a superannuation provider has shared six tips to help Australians take control of their retirement planning. ...Read more

Retirement Planning

5 tips for a financially healthy retirement

While it is never too early to start planning for your retirement, it is also never too late, with just five simple steps enough to make a big difference to your financial position and ensure you have...Read more

Retirement Planning

PM unveils $452m funding package following ‘harrowing review’

The federal government has announced that it will spend almost half a billion dollars on immediate measures to help overhaul the aged care sector following the release of the aged care royal commissio...Read more

Retirement Planning

Retirement time bomb requires complex thinking

The majority of Australia’s super assets now sit in the hands of retirees and pre-retirees, but many require more nuanced investment strategies to achieve the lifestyle they want in retirement, a ne...Read more