Business
Early access to superannuation is no disaster – Sydney Morning Herald
Dipping into superannuation does less damage to retirement living standards than you have been led to believe.
First, the hit to someone’s super balance at retirement is probably smaller than you’ve been told. Second, the hit to retirement income is smaller still.
There are alarmingly large numbers being bandied about.
Industry Super Australia claims a 25-year-old who withdraws $20,000 completely clearing out their super would forgo $95,696 in investment returns by the time they are 67. A 30-year-old with a balance of $40,000 who withdraws $20,000 would forfeit $79,393 by age 67.
By the way, the reaso…
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