🍺 PUB TEST: Are You A Fan Of Superannuation?

Does superannuation pass the pub test?

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Episode Transcript

Speaker 1 (00:00):
Jersey and Amanda gam Nation.

Speaker 2 (00:03):
Spoke to doctor Christian Balis, one of Australia's leading economists,
earlier this morning about Superannuation's thirty third anniversary of this
compulsory super and it's just gone up to twelve percent.
It's said that most Australians will retire this well, young
Australians will retire with three million dollars superannuation. It's said
that our superannuation scheme is the envy.

Speaker 3 (00:24):
Of the world.

Speaker 2 (00:25):
That this saves you from relying on the government. And
as we're an aging population, less and less facil service
is going to be available to us as we get older.
I think we need to rely on ourselves and this
saves as much as you'd be tempted to want the money, now,
this saves you from yourself. It stops you spending before
you need it when you're going to be older. The

(00:46):
tractors would say this.

Speaker 3 (00:47):
According to Christian, a lot of people would argue that
super is not the best thing for them because they
would like to have their money here and now. A
good example of that is people would like to go
and buy houses with their souper instead of having it
locked up.

Speaker 2 (00:59):
What do you think we'll we put it too early
as superannuation. Does it passed the pub test?

Speaker 4 (01:04):
Yeah?

Speaker 1 (01:04):
I think it depends on everyone's situation with everyone's in
a different situation. As if you're working and you can
afford to yes, if you're not working, then you're probably
can't afford to.

Speaker 5 (01:14):
No, it doesn't I pulled out the twenty k during
COVID to put towards a home deposit. I would have
taken my It was the best decision I've ever done.
And I was only thirty. So if I could have
done it Lauren sooner, Yes, I.

Speaker 4 (01:27):
Believe that if it does past the pub test.

Speaker 1 (01:29):
Yes, Whilst it.

Speaker 4 (01:30):
Would be nice to have your money now to put
a deposit on a home, how's that kind of stand
out when you retire at sixty five? Yeah, you're having
bricks and order, but having cash at sixty five is
going to be much more better than relying upon the government.

Speaker 6 (01:41):
No, because there's no regulation that you have to pay
that if they go on a payment plan. I had
my previous employer who's over five years behind him paying Super.
I will never see that money. He's in his sixties.
It's not good.

Speaker 4 (01:54):
Oh, I think you're past the pub test.

Speaker 3 (01:56):
Like Amanda said, I need to save myself from myself.

Speaker 4 (01:58):
My parents are on the pension and they can survive
on it.

Speaker 3 (02:00):
But they can live on an early rag. I don't
think I can survive, but a caavey it should be
that I can access a little.

Speaker 4 (02:07):
Bit of it to try and buy a house.

Speaker 3 (02:09):
If I need to.

Speaker 4 (02:13):
Thank you for all your calls.