All Topics / Help Needed! / Any one know Anything about Super??

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  • Profile photo of JpcashflowJpcashflow
    Participant
    @jpcashflow
    Join Date: 2007
    Post Count: 575
    April 4, 2011 - 2:41 am

    Hi Every one,

    Last night we where having dinner with the family, and we started to talk about SUPER. My parents told my finance that when the GFC occured they lost alot of there super and know my dad has to work even harder know that what he did just to get in front. We are 26 we only owe 100k on the house we live in and we have about 80k in super. We owe our own bussiness so we pay our own super and Wages.
    If we have 80k saved in super is there any way we can access it to put it towards our Loan at home? I prefer to do this then live it in some other persons hand who is usind your money to make them money?

    Any feed back would be good

    Jpcashflow | JP Financial Group
    http://www.jpfinancialgroup.com.au
    Email Me | Phone Me

    Your first port of call in finance :)

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    April 4, 2011 - 3:09 am

    In short – NO.

    Unless you can prove hardship grounds you wont be able to access your Super until at least 55 years of age.

    Many variations you can do but you cant withdraw the funds and pay off your own residential loan.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

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