A recent report, commissioned by the Financial Services Council, to discover what retirement means to – and will look like – for New Zealanders made some interesting findings.
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KiwiSaver
Proposed changes to KiwiSaver in a Bill currently before Parliament would allow people over 65 to join the scheme to give them access to a provider of low-cost managed funds in retirement. The 5-year minimum lock-in requirement would also be removed for these members.
Many of the people who do not contribute to KiwiSaver on a regular basis are on a low income or are not in paid employment, research suggests.
More than 2.7 million Kiwis are signed up to the retirement scheme but 1.1 million were considered to be non-contributors in the year to March 31, 2017.
Are you a regular Lotto player? Think you’re in with a chance of being the next millionaire? Let’s have a look at the numbers..
The NZ Lotteries Commission estimate your chances of winning first division Lotto at one in 3.8 million (or one in 38 million for Powerball!) ie. – not likely!
We know it's hard to resist spending now in order to have something more to use in the future. Retirement can seem like such a long time away but a little bit saved now can make a big difference later.
Kids find it just as hard as adults.
The Government is cautiously supportive of including higher KiwiSaver contribution rate options and “increasing KiwiSaver coverage” but cannot say yet what that might mean.
Commerce and Consumer Affairs Minister Jacqui Dean has released the Government’s response to the Retirement Commissioner, Diane Maxwell’s, review of retirement income policies.
With the Reserve Bank changes potentially making it harder for first home buyers to get in to the property market, here’s some tips to help your children into their own home and avoid them living with you in your retirement.
Britain’s decision to exit the European Union (“Brexit”), followed swiftly by UK Prime Minister David Cameron’s resignation, creates considerable economic and political uncertainty. It will be some time before we know all the answers. The negative market reaction to the narrow victory (52% vs 48%) for the “Leave” camp has been exacerbated by markets going into the referendum expecting exactly the opposite outcome, a narrow “Remain” victory.
To help Kiwis save, the NZ Government may put a little extra contribution into your KiwiSaver account. This is called a Member Tax Credit. Watch this short clip from AMP to learn more…
How to choose who to invest your KiwiSaver money with. Here’s a list of providers in New Zealand. Think you can make this decision on your own? Off you go then – close your eyes and stick a pin in the page – that’s the one to go with! Not.
You probably have these questions, among others…What’s the difference? How do I know which one to go with? What does it mean? Does it matter?
Relax – pick up the phone and make an appointment for a coffee with us – oh and a chat about KiwiSaver. We have it all sorted – who offers what and why and which is best for you based on your goals and aspirations. Core Advice – at the heart of your financial matters.