Early release or a kick-start?

29 May 2020

So, what does the cost of a motorcycle trail bike have in common with the average drawdown of superannuation early release?

Well, according to a number of motorcycle aficionados of Outsider’s acquaintance a new trail bike costs a bit over $8,000 and, guess what, that equates almost precisely to the average early release superannuation drawdown.

Now, far be it from Outsider to suggest that early release superannuation was not, in the main, used to address genuine COVID-19-induced hardship, but his motorcycling friends have noted that trail bikes in that $8,000 price range have become hard to source in recent months.

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And anyway, as NSW Liberal Senator and former Financial Services Council policy exec, Andrew Bragg, told his constituents “superannuation is for a rainy day and today is a rainy day” which begs the question of whether anyone is riding the ‘Braggster 250’ which is guaranteed to maintain political traction in almost any conditions.

For his part, Outsider believes this talk of trail bikes and drawdowns is all just coincidence particularly because he knows that bicycles have also become big sellers since social distancing started as people contemplate girding their loins with lycra to cycle into the city, thereby avoiding the perils of public transport.

Outsider intends returning to Money Management Central as soon as is safely possible utilising a combination of public transport and Shanks’ pony after receiving a number of diplomatic messages from Mrs O which would have made a Chinese diplomat blush. 

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