Thread by @abc730

Since the #coronavirus pandemic started the Australian #superannuation pool has lost 13% or $350 billion. #abc730 @AlanKohler

“Someone in their 20s has 40 years of super savings in front of them, so time is on their side, but someone else set to retire this year or next is going to get less than they bargained for. That’s got a name – it’s called sequencing risk.” - @AlanKohler #abc730 #coronavirusaus

“With interest rates so low, that’s serious. If you were sitting on a super balance of $700,000, that’s already less than $600,000, and your income on that has gone from $21,000 a year to less than $18,000.” - @AlanKohler #abc730 #superannuation #coronavirus

“The Govt has potentially made matters worse by letting people take up to $20,000 out of super over two years if they’re short of cash to live. According to the Tax Office, 361,000 people have put in an expression of interest to get the first $10,000 out.” - @AlanKohler #abc730

“No one is denying the right of people to access their superannuation if they’re really, really, need the money. But the common message from almost everybody is please don’t take that money unless you really need it.” – @AlexDunnin #abc730 #coronavirus