The consequences of accessing your super early

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There’s an old saying in the financial world – if it sounds too good to be true, it probably is. I can’t think of a better way to describe the Government’s COVID-19 early superannuation release scheme. The chance to withdraw thousands of dollars from super proved so tempting that literally millions of Aussies have already applied for the program, in total withdrawing (so far) more than $33 billion in funds.

But while this money was intended to help people who had ...

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