Creative, entrepreneur, mother, speaker. I thrive on learning, growing and sharing my journey in the hopes to inspire others to live independently, confidently and courageously.
There have been billions of dollars withdrawn from superannuation since the government introduced the early release scheme. It allowed people to access $10,000 for the 19/20 year and a further $10,000 in 20/21 from their funds.
Some people have genuinely needed it because they had no other option. Others have accessed it for a long variety of reasons including that they felt they could do something better with it than leave it in a fund they couldn’t touch for many years.
Like everything, there are often consequences and if you’ve accessed your superannuation via this scheme. I’ve detailed some things below that you should be aware of.
If you are thinking about accessing it, think very carefully, and please only use it as your very last resort)
Here are some additional links to great resources if suffering
financial hardship due to the pandemic:
Renae Vercoe is a Financial Adviser and the founder at Moneymode, she’s a Mum of two and has recently started a podcast the Savvy Mumma, her passion project where talks money in a meaningful, non-jargon way.
You can find her on Instagram @moneymode_ and Facebook
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