Rising Tide Blog

Matt Hale – 3AW Drive – COVID early access to Superannuation

Posted by Matt Hale

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Tom Elliott: Matt Hale, good afternoon

Matt Hale: Good afternoon, Tom. How are you?

Tom Elliott: Good, thank you. Now, you must have clients that have taken money out. What are the sensible ones doing with this cash once they’ve withdrawn it from their super funds?

Matt Hale: Yeah, you’re right. I think there’s a lot of people that have access it. The smart ones are probably doing it because they need it. They’re either on Jobkeeper, or very close to needing Jobkeeper. I think a lot are putting it in their offset accounts or paying their mortgages. And unfortunately, some people need it just to pay the bills at the moment.