Do you plan to sell your Bulimba real estate to fund your retirement? You'd be in the minority. The MLC Quarterly Australian Wealth Sentiment Survey for the third quarter has shown that only 11 per cent of Australians plan to specifically sell their family home to fund their retirement. Only a further 7 per cent plan on using the equity in their house for retirement funds.
This leaves 82 per cent of Australians unaccounted for – and they don't all have better plans. Forty-two per cent of people surveyed were unsure of how they will afford their retirement. This contributes to over 50 per cent of people surveyed who believe they will not have enough money for retirement.
Many of those polled didn't fall into this camp, however. Nearly 40 per cent said they have no plans to sell their homes. Interestingly enough,blokes are the group who had more of a plan, with 45 per cent saying they wouldn't sell their homes compared to 34 per cent of women, and fewer men than women saying they didn't know what they would do with regard to retirement funding.
Which side would you fall into? Maybe it's time to try and move out of the land unsure and join those who have a plan.