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Vanessa Stoykov

There has been a lot of press around the early release of super scheme, and the fact that Australians have
taken $31 billion out of their retirement savings to use now during the pandemic as at 9 August 2020.

Whether or not everyone has used the funds to their best advantage is yet to be seen, although early data
indicates that a fair portion of under-30s have spent on increased entertainment and consumer goods. There
are now over a million people who have taken from their super twice and a further 3 million who have taken
theirs once1. Now that the government has extended the early release scheme for tranche 2, it would seem that
there may be potentially well over a million people still considering whether or not to take from their super.

If you are one of those people, or know someone who is, here are three points to weigh up when making your

1. What is your plan for the funds? Can you invest in something like a new business idea or something that
will give you a future income? If so, it may be worthwhile using this seed funding to make yourself more
income. If not, how essential is it? By taking from today, you may be robbing yourself tomorrow. So, really
weigh the income producing potential, and how essential your spend truly is.

2. Is there any other way you could make this income without touching your super? It may mean a side hustle – doing a second or third job to make this possible. While that might seem very hard now, I can tell you that the older you get, the harder it is to hustle. If you can push yourself now, your future self will thank you.

3. Is this the first time you have really looked at your super? It is your money, and maybe now is the perfect
time to understand how it is invested, and what it could become if you leave it where it is. Or, do you need to
move to a new fund? Look carefully at your super and use the calculators to do some
numbers.. Knowing you are an investor, and how you can capitalise on it via your super, may be the most
important outcome for future you.

There is no doubt, we are living in uncertain times, and it looks like that is set to continue. I encourage you to
really think about what is right for you – both now and in the future. And if you can, seek financial advice, or
financial counselling and have the experts weigh in.


1Sourced from Early Release Scheme Issue 16 dashboard

The information in this document has been prepared and issued by OneVue Wealth Services Ltd ABN 70 120 380 627, AFSL 308868 as the
Fund Promoter. It is intended to provide you with general information only and does not take into account your personal objectives,
financial situation or needs. Before making any financial decisions, it is important that you read the current product disclo sure statement
(PDS) and consider your particular circumstances and whether the particular financial product is right for you. The current PDS for the
product is available here on the Fund website. You should consult a financial adviser if you require personal advice. Diversa Trustees
Limited ABN 49 006 421 638, AFSL 235125 RSE Licence L0000635 is the Trustee of the Fund and the product issuer.