Accessed your super early? Here's what you should know

She plans to dip again after July 1, along with her partner, to pay off their last two credit cards that have amassed a $14,000 debt. She also has an $18,000 personal loan.

Ms Jukes said she is paying 24.99 percent interest on one credit card, which is the cash advance rate after the 'no interest balance transfer' period lapsed, and 12.99 per cent on the other. "When we found out about the super scheme, I was so relieved. I know it's scary to consider touching that sacred retirement money, but if we didn't take the opportunity while it was available we knew we'd be stuck paying hundreds of dollars a month in interest for years and years to come, leaving us unable to save or ever even hope to buy our own home.

1. Before you do anything, call an independent financial advisor. And ask yourself, is there another way?

Who care rather than uh guys talking our money..we work hard and that's our rights to take out when we want...

Surely they knew that. You can’t have It and expect it to profit from it later on

It’s called surviving

I'd be taking the lot if I could

They’ll be fine, when their money runs out, they can just apply for the pension

But there sweet now

Great so basically I had a choice .. Starve now or starve later and that’s if I even make it to the later age .. So I chose to not starve now ¯\\_(ツ)_/¯

There’s not much point in having all that money in super when your struggling now. And in taking that money out your not a burden on the taxpayer.

No ...your kidding. Inspirational journalism 🤦‍♂️

Our PM made a stupid decision didn't he? 1) jobseeker 2) allow superannuation 3) jobkeeper 4) job maker. Should've been 3,4,1 then last is 2

The way the world is now there isn’t going to be much of a future. Live for now

Oh really!

Really?! But I thought 3-2=7

Wow who would have thought 🤔

Your assuming passive fund managers and ETF funds actually make anything over the next decade ... all evidence suggests they haven’t and they won’t

Fucken’ Durr!

My super fund was founded a year after I was born. I'm sorry but given the volatility and unpredictability in the markets I've seen in my rather short stint as an contributing adult, I don't trust that it'll make it to 75

dorneous One of the groundbreaking headlines. I’m shocked that accessing funds for your retirement would see you worse off at retirement shook

Any dummy would know that but it's better to use now than later when your forced to work until so old that you can't even enjoy the money and that's if you make it that far.

We will all probably die of Rona before we can access that shit anyway just sayin

Yeah, $10-$20k worse off

No shit but won't ever get my hands on my super ever so also who gives a shit

Some people need to be better off today.

They take their super to pay off their credit cards, absolute morons. Why would you get a credit card in the first place! idiots why

No worse than fronting the FamilyCourt

Who’d have thought that taking money out of your retirement fund would impact your retirement!

..... duhhhhhhhhhh 🙄

Retirement will be a thing of the past soon enough

The release of Australians superannuation should be abolished & we all know why, right?! OzBetting CapitanoCasino etc.. So, GregHuntMP, ShaneRattenbury, SenatorHume & ScottMorrisonMP what have you implemented, for future retirees? GamblingHelpAU NSWGamblingHelp 🙄😬

I feel that INDIA CHINA RUSSIA could be a GOOD MARKET FOR WINE ? um* CBI * BOMBAY * WEST INDIA * 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😪🙂😵😭😂😪🙂😵😭😂😪🙂 ******

Some people will never see their super so they need to do what they can to survive now

Bit obvious but needs must

A percentage of everyone’s super is sitting in cash. Those needing it now won’t be affected that much and beat they gave it now anyway.

Always delivery cutting edge journalism

If Trump wins everyone wins, global stocks go up and we benefit big time with our super. Yes Trump must win

And another 10k for the weekend. PAARTY !!

Scare tactics by media so people resist taking their money and cause the investment bubble to collapse. May as well spend the money now before the government insists rba print money and devalue Aus $.

So in 37 years you can expect just over 100% increase not accounting for inflation. So why pay superfund fees when you're already paying back fees and you would get similar results? Superfunds are a con

Ahh obviously

No we won't because GESARA will kick in. No more fake news no more Federal reserve no more slaving .

The money is better off in my hands then some super fund. I would take it all out if I could as my investments have made money not lost money like most super funds have!!!! Take your money and run I say!!!!

I thought they would be better off?

Thanks Einstein

Wasn’t there $30billion wiped off the ASX today, pretty sure that would have hurt everyone’s superannuation... if you’re eligible, you should withdraw your money!

And the opposite to Left is Right

No shit genius

These quoted 'loss' values in Superannuation must be from the absolute most dysfunctional and atrocious Super Fund in existence.

But they will have toilet paper and chest freezers! Right? RIGHT

No shit

Anyone that can get there super out and doesn’t is an absolute moron. Even if you don’t need it! It’s tax free money. It’s a gift, take it!

How could you even think of retirement when you’re striving just to live day by day right now?

We'll probably be incapacitated or dead before retirement so it's all good spend it now while you're young & can enjoy it 😁

I don't get it...?

Who would've thought dipping into your retirement savings would mean you have less money for retirement...

What 🙀

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