# Retiring with a Mortgage: The New Normal?

Page: https://stenobird.com/podcast/the-elephant-in-the-room-property-podcast-inside-australian-real-estate-1140810/retiring-with-a-mortgage-the-new-normal
Text version: https://stenobird.com/podcast/the-elephant-in-the-room-property-podcast-inside-australian-real-estate-1140810/retiring-with-a-mortgage-the-new-normal.md
Podcast: [The Elephant In The Room Property Podcast | Inside Australian Real Estate](https://stenobird.com/podcast/the-elephant-in-the-room-property-podcast-inside-australian-real-estate-1140810)
Published: 2026-03-08T20:00:00+00:00
Episode link: https://www.theelephantintheroom.com.au/podcasts/427
Audio file: https://episodes.captivate.fm/episode/5921c7e8-9ea9-4bab-bd19-ba3a8e596fee.mp3
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Duration seconds: 3193

## Resource

For decades, the assumption was simple: by the time Australians reached retirement, the mortgage was gone. But that reality is changing fast. Today, more than half of Australians approaching retirement still carry housing debt—and it’s reshaping how households think about superannuation, the Age Pension, and the role of the family home. In this episode, Veronica and Chris sit down with retirement specialist Harry Chemay to unpack the growing debt burden among pre-retirees and what it means for the next generation of retirees. They explore why the traditional “pay off the home before retirement” rule is breaking down, how rising property prices and refinancing behaviour have changed the way Australians use housing equity, and why more people are drawing down their super simply to clear their mortgage. Harry explains the financial trade-offs between paying off your mortgage versus preserving superannuation, and why this decision can dramatically affect long-term retirement cash flow. The conversation also dives into reverse mortgages, equity release strategies, the Age Pension means test, and why downsizing isn’t always the straightforward solution many assume it to be. This episode challenges long-held assumptions about debt in retirement and highlights the need for better coordination between financial advisers, mortgage brokers, and retirement planners. Because in today’s housing market, the biggest asset most Australians own—the family home—may also be the key to making retirement work. Episode Highlights 01:13 – Meet Harry Chemay: Retirement and Wealth Strategy Expert 01:55 – From Robo Advice Startup to Retirement Strategy Specialist 03:33 – Why More Australians Are Reaching Retirement With Mortgages 08:46 – Generational Shifts, Lifestyle Choices and Mortgage Refina…

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