Make the most of it
‘Super and investing in shares is a long-term investment’
Superannuation is a unique investment vehicle. For many of us, we set and forget. Employers contribute 9.5% of our ordinary wages and we, hopefully, watch the value of the nest egg grow.
“There are a lot of people who over time, as they’ve been accumulating, haven’t been focusing on their super,” says Bryan Ashenden, head of financial literacy and advocacy at BT.
But is set and forget the right way to go, especially during the pandemic?
“We shouldn’t forget about it. Once engaged, stay engaged,” says Ashenden.
Early access to super
The outbreak of Covid-19 saw the tax office move to allow people access to $10,000 of their super until June 30, 2020, and a further $10,000 from July 1 until September 24, 2020.
The Association of Superannuation Funds of Australia (ASFA) estimates that as of
