Can I withdraw Super to buy myself a house to live in?
The problem is I am in my mid forties with no savings and I am paying a high amount of rent.
The total rent paid to my investor landlord is about $30000 per yer.
On the flip side, have a very healthy superannuation fund which I can use and buy a decent house outright.
If I were to buy a property, Rates and body corporate/ insurance would be at most $7000 per yer.
If I can withdraw Super as per the above situation, I will be able to make contributions up to the superannuation cap in order to save for my retirement.
If I have to wait for annuity age, my purchase power will be eroded with inflation and I'll likely be on the pension anyway.
I'm at a loss as to why the government can't solve housing and superannuation at the same time.
Firstly, allow citizens to buy houses with super and secondly remove the superannuation cap.
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