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I have no intention of becoming dependant on anyone, not to mention the tiny amount of money the pension is. The thought of living on $14K or whatever the age pension is a year... :eek: What does that allow, sit in a little studio room with heating on low knitting my life away, no thanks...

I agree this particular man has done very well - I'd be more than happy to have assets exceeding $1M all paid for when I'm 60, plus a PPOR paid off. My comments were more directed towards a generalisation of the older generations and as to why they may not wish to get themselves into too much...

I don't think we can ever really judge one's decisions in life without knowing what they were brought up with or have lived through. Whilst I agree with your thinking investor2009, have you ever thought that we are in a lucky situation today to be able to do this. People who grew up through...