Superannuation
Posted by: Keerah1
11th Sep 2016 05:51pm
Just wondering what readers think.
If you had the choice of withdrawing PART of YOUR Superannuation NOW. If needed. Would you?
If you had the choice of withdrawing PART of YOUR Superannuation NOW. If needed. Would you?
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Comments 6
Bazz
Not part of it... all of it down to the last cent! Those people are terrible investors & the investment options are miserable. Super should never have been forced upon us. My experience... working full time for 25 years in the same super fund with the fastest growth option & still well under the $100k minimum needed to start my own SMSF. I've been putting a tiny little bit (much, much less than super!) into cryptocurrencies since 2015 on & off, & just in one exchange, it's well over $100k today - when bitcoin is just half the price it was in December! Property is falling & won't ever get back up again, the stock market has dropped off & will continue downwards & all other & cash 'investments' are being eaten up by inflation & fees... I don't know anyone who seriously thinks the super funds will fully pay out! The govt keeps raising retirement age & putting more & more conditions on people who have built this country & deserve a rest.
You all urgently need to read David Love's 'Unfinished Business...' - a total Paul Keating Groupie. Originally, super was a scam to funnel tons of money into Macquarie Bank & other parasitic speculators. Paul Keating & Bill Kelty cooked this one up in response to a wage rise demand. And then what happened? Wages fell. Super was never intended to fund retirement. It was only meant to fund Macquarie Bank & the like. I note the title picture... the link is very close!
super88
I'd have to need it for a really good reason.
Not just to have cash in my hand, or go for a nice holiday.
Not even to buy a house that I couldn't afford without cashing in my super.
Maybe making a final mortgage payment before retiring would make sense.
Everyone's situation is different, but having a little extra income in my old age seems like a pretty good investment.
micky b
yes ,, i did years ago and have zero now ,, SO DONT.....
missmoose
I would rather have invested in property than putting in Super for other people to lose it. I don't even have half of what is needed for a modest income. Retirement is only 3 1/2 years away.
Hes
better to leave it alone. it is the best way to have extra money when you retire
why?
A bad idea unless it's your last option due to dire circumstances. I withdrew totally from my super fund some years ago, exploiting a loophole, since closed. (Thank goodness.) I figured I needed the money more when I was young and able to make the most of it. I ended up working longer than intended to build a new super plan for my retirement, but was foiled by disastrous and unexpected health issues. My recovery used what little super I had accumulated and has reduced my retirement funds to pension only. You can't predict what will happen in the future. Keep your super going!