Early Access to Superannuation: Last Resort Options for Financial Hardship

The Numbers Game

Welcome to Episode 147 of The Numbers Game. Today, we're shining a light on a topic that's not commonly discussed: accessing superannuation in tough times. We dive into why superannuation is ideally a last resort and explore the scenarios that may warrant early access, including financial distress, medical emergencies, or the need for IVF treatment.

On this episode, we discuss:

• The critical nature of superannuation and why it should be your last resort in tough times
• Circumstances under which early access to superannuation is possible, including terminal illness and IVF treatment
• How different super funds have varied rules for accessing funds early
• The tax consequences associated with early withdrawal of superannuation
• The necessity of getting professional financial advice to explore all your options

This episode was made possible thanks to our major sponsor Dashboard Insights.

Dashboard Insights transforms business data into real-time, interactive dashboards, providing a visual representation of performance and empowering data-driven decision-making. They focus on efficiently delivering essential information, enhancing business operations, and promoting a high-performance culture. Discover more at Dashboard Insights.

Check out the free resources from Inovayt here.

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The Numbers Game is brought to you by Future Advisory & Inovayt.

Hosts:
Nick Reilly
Jason Robinson
Martin Vidakovic

This podcast is produced by VIDPOD.