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ALDI - DON'T DROWN IN ONE-OFF DISCOUNTS!
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ALDI - DON'T DROWN IN ONE-OFF DISCOUNTS!

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Check your superannuation now: Aussie mum says coronavirus has wiped thousands from her account

‘I had no idea.’ - by Amy Sinclair
  • 12 Mar 2020
Check your superannuation now: Aussie mum says coronavirus has wiped thousands from her account
Image: Getty

An Aussie mum has revealed her shock after discovering that the coronavirus crisis has wiped thousands from her superannuation account. 

Sharing on Facebook, Sydney mum Rita says she made the unbelievable discovery after noticing that her superannuation balance had suddenly dropped by $6,000. 

She writes: ‘Because I enjoy watching my superannuation grow, I noticed today it had dropped by 6 grand.

‘I call to find out WTF is going on and due to the virus, it has affected the stock market which then affects our Super. 

‘Maybe I’ve been living under a rock because I had NO IDEA the 2 are linked.

‘Any advice before I’m left with nothing?’

Speaking to New Idea Food, finance expert Jimmy Ellis says everyone should check their superannuation funds. 

‘It all depends on what superannuation fund you’re with,’ he says. ‘If your superannuation fund has a lot of your money in stocks, then it’s going to be affected when the stock market goes down. At the moment, the coronavirus crisis is playing havoc with the stock market, stocks are down 20%. 

coronavirus-superannuation-warning

‘In a basic sense, if the stock market is down 20% then your superannuation could go down 20%. The hope is that when the economy and stock market recovers, so will your superannuation balance. It’s just a waiting game.’

That may be of little comfort to some who were shocked by Rita’s discovery.

‘I had no idea coronavirus was affecting our super either, it’s so shocking,’ said one Facebook user. 

Amy Sinclair
Amy Sinclair
Amy Sinclair is a contibutor for New Idea Food.

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Breaking: Kmart stores in NSW, Victoria and Queensland to close due to coronavirus

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New calls for Woolworths to ban families from stores

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Aussie mum makes a DIY Sushi Train for home - using a very unlikely item from Aldi!

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Aussie mum's 2-ingredient KFC recipe has gone viral!

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Aussie mum’s genius hack for making toilet paper last longer goes viral

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Breaking: Woolworths CEO makes huge toilet paper announcement

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