Early Access to Super
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“In regards to the topic of FHSSS, please be careful with your language around a ‘guaranteed return’ of 4%. This is a deeming rate - not an warning rate.
For example, if you contributed your $30,000 2 years ago (30 June and 1 July) you’re deemed to have earned 4% interest in order to calculate how much you can withdraw. In this case about $2400 (simple isn’t calc to keep it easy).
However, if as was discussed, the funds were held in cash at 1% interest, you only earned $600.
The difference has to come out of your other accumulation. It’s worse if there were negative returns.
The cash taken out is a 4% return but the net position will be different.
Just thought it was worth pointing out.
I’m enjoying your information and passion for this subject matter.
Tony”
TonyB1963 via Apple Podcasts ·
Australia ·
06/06/20
More reviews of Aussie Firebug
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“Handsdown one of the best finance podcast I have just inside. Excellent that it has an Australian perspective on the file movement. Thanks”
trent123 via Apple Podcasts ·
Australia ·
11/19/18
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“Great “general advice” wish content like this was taught when I was at school. DCA forever”
Sdwoohoo via Apple Podcasts ·
Australia ·
11/29/21
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“Most of the contents online on FIRE are US based. So great to see Aussie bloggers, love your work! And thanks for sharing your experience with us.”
Shaunify via Apple Podcasts ·
Australia ·
08/05/19
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