[Catherines]

I agree with all who stated that this was a case of greed! However, i have a question regarding the headline to this arcticle, it says " Pensioners". Just wondering if and how they actually qualified as pensioners? Surely they would have been seen to have too much in assets to access any government aid! I know we don't have that much, yet have already been told that when i turn 67 we will not recieve a penny, but perhaps the concession card.

‘Pensioners’ don’t necessarily have to be people getting a monetary pension. They are also people over a certain age who get other benefits like rebates or cost of living on certain items.

My husband and I don’t get the monetary ‘pension’ because our combined superannuation & small bank account amount to more than the cut-off amount of $900+ for a pension. We live on our savings and are happy with what we have including our fully paid off home as well as not one single cent of debt. Everything we worked for and paid off, one thing at a time.

 

[Jo Piper3]

I'm very sorry for your experience. I'm sure you were only trying to help your children. You must have worked very hard to earn the $1.7m.

 

[Annna]

I am very sorry but I can't sympathise. These people were already extremely well off by most people's standards.
Children don't need their mortgages paid off for them, this leaves them no incentive to achieve on their own.
They were already in line for a generous inheritance.
Greed took over their thinking. Do these people not live in the real world, we are told over and over again about these scams. Everything that happened to them has been explained again and again as to how these people operate.
Reading this article, was like reading the same book over again.
The bank is not responsible for their greed and stupidity. I am not surprised the AFCA did not decide in their favour.
A very expensive lesson.

But house prices these days are insane.

Starter prices $800,000 to $1 million in Brisbane and $1 to $2 million in Sydney.

10 to 20 times average salaries.

Hard to get to the saved deposit let alone the repayments over 30 years.

 

[Jan Purcell]

Wow I wish I have the money that these people had, life would be much easier, Im 82 and still working, have some cash in the bank, but am not tempted to invest in these scammers, and if I did have a lot, no way would I take the chance and invest with someone I don't know, better the bank, small interest but its better than loosing the lot.

 

[Colleen M]

‘Pensioners’ don’t necessarily have to be people getting a monetary pension. They are also people over a certain age who get other benefits like rebates or cost of living on certain items.

My husband and I don’t get the monetary ‘pension’ because our combined superannuation & small bank account amount to more than the cut-off amount of $900+ for a pension. We live on our savings and are happy with what we have including our fully paid off home as well as not one single cent of debt. Everything we worked for and paid off, one thing at a time.

Totally agree with what you have said Catherine, as i said, a concession card may apply to us. I would think that we would be referred to as self funded, not pensioners. Our circumstances are similar to yours.

 

[ElleJay]

It is time people woke up. If it sounds too good to be true walk away. They had plenty of money so why not enjoy life rather than keep grabbing out for extra. There is more to life than making money. Why should a bank step in when people make stupid decision? You take a risk, gamble and take a chance. Might as well have popped it all through the pokies!! Sorry but no sympathy for stupid people.

What a nasty, horrible thing to say to a member of this group! This couple have lost everything! How about a bit of empathy!

 

[Rob44]

What a bunch of heartless b-------, or the female version thereof. Anyone can make a mistake/misjudge a plausible character.