Scott Pape warns Australians against moving superannuation into cash out of fear

Barefoot Investor Scott Pape has urged Australians not to shift their superannuation into cash out of fear of a market crash. His warning follows AustralianSuper members moving $1.27 billion into cash in September, a sharp rise that he links to alarming financial content promoted on social media.

Pape said switching out and back into investments requires getting the timing right twice, which is difficult if markets rebound quickly. He also warned a 15-year-old reader about influencers who promote costly courses or crypto schemes, advising him to build habits, read and gain experience beyond the internet. Pape has previously urged Australians to check their super fund fees and returns.