Early superannuation withdrawal: Shutdown lifeline or ticking financial time bomb? | ABC News

About This Source - ABC News (Australia)

The video item below is from ABC News (Australia). ABC News is a public news service in Australia produced by the News and Current Affairs division of the Australian Broadcasting Corporation.

Three Recent ABC News (Australia) Stories:

  • Israelis angry at government response as they face a coronavirus second wave | ABC News
  • Queensland announces it will block entry to NSW residents from coronavirus hotspots | ABC news
  • Coronavirus update July 14 – NSW imposes new pub restrictions as Qld changes border rules | ABC News
  • Almost a million and a half people have taken up the option of dipping into their super to help them survive the coronavirus shutdown, with the total withdrawal amount totaling more than $11 billion.

    For many young people the money is a lifeline to help them bridge a financial gap they’d otherwise fall into, but financial advisors warn it will cost them dearly later in life.

    Read more here:
    Coronavirus financial concerns have young people accessing their superannuation – https://www.abc.net.au/news/2020-05-25/coronavirus-early-access-superannuation-young-people/12282546

    For more from ABC News, click here: https://ab.co/2kxYCZY
    You can watch more ABC News content on iview: https://ab.co/2OB7Mk1

    Subscribe to us on YouTube: http://ab.co/1svxLVE
    Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2
    You can also like us on Facebook: http://facebook.com/abcnews.au
    Or follow us on Instagram: http://instagram.com/abcnews_au
    Or even on Twitter: http://twitter.com/abcnews

    Leave a Comment