Acessing your Super.

[Sons_of_a_Gun]

Just wondering if anyone on here has accessed any of there super early before, due to financial hardship.

Just curios for someone to shed some light on the matter, Easy? Hard? How Long?

 

[Atavistic]

Yeah, I got $7000 out, but it took a lot of photocopying stuff, filling out forms and then I had to wait months for them to process it. Pain in the ass.

 

[meowis]

yeah got mine out too, wrote my name so many times on forms...

 

[Pilchard_Adams]

I vaguely remember someone mention something about being able to access super early to invest in property. Can anyone shed any light on if this is correct?

 

[Troubadour]

I vaguely remember someone mention something about being able to access super early to invest in property. Can anyone shed any light on if this is correct?

You can invest in anything just about, but you have to set up a Self Managed Super Fund to do it. You can even borrow funds in your SMSF. The downside is that you can't access the profits personally until you retire and they can be expensive to run. You'd need to have north of 100k to consider it is the common suggestion.

 

[Pilchard_Adams]

You can invest in anything just about, but you have to set up a Self Managed Super Fund to do it. You can even borrow funds in your SMSF. The downside is that you can't access the profits personally until you retire and they can be expensive to run. You'd need to have north of 100k to consider it is the common suggestion.

Thanks mate. Yeah I asked my accountant and he said the same. It costs about $2500 per year to have your own super fund, so not worth even looking at until you have around 100k in it