What young adults need to know about KiwiSaver
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It is anyone's guess what the world will look like in 40 years time - climate change might have made Earth uninhabitable or Donald Trump might have ended civilisation as we know it. Assuming neither of these catastrophic scenarios occur, you will need to have saved a sizeable chunk of money for your retirement. Even though retirement might be a long way away for you, a couple of smart decisions now could help you avoid having to live off baked beans when you're old. This is where KiwiSaver comes in.
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Double check before you sign
Posted in Savings on
Buying your first home can be daunting. You may have family and friends who can step you through the process. If not, where do you start? Here are the 10 basic steps to get you on the road to home ownership.
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KiwiSaver: How to get an extra $521 from the Govt
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If you are in KiwiSaver you can get an extra $521 a year from the Government, but many people are missing out. Here is how to get the free $521!
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FMA warns - don't treat KiwiSavers as 'cash cows'
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The head of New Zealand's investment regulator has fired a warning shot at KiwiSaver providers urging them to be more proactive in engaging with their members. Rob Everett, chief executive of the Financial Markets Authority, said KiwiSaver providers could not afford to treat members as "cash cows" raking in millions of dollars in fees a year without doing anything to communicate with them other than the minimum.
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Generate in the Media!
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The Generate KiwiSaver Scheme has notched up another major milestone by hitting $200 million of funds under management. Henry Tongue, Generate’s CEO said: “Generate is very grateful for the support from all its members and advisers in reaching this milestone. The level of growth stemming from ‘word of mouth’ has been phenomenal and we are working harder than ever to keep up the high level of service.”
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Call for KiwiSaver education campaign
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The financial boss of a top accounting firm is calling for a public education campaign around KiwiSaver. John Kensington, head of financial services at KPMG said schools, employers and KiwiSaver providers need to teach people about the savings scheme or many New Zealanders could face a less than desirable retirement. Kensington's comments follow the firm's second report on the sector, which found that after six months there has been little change in the levels of financial literacy of KiwiSaver users.
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Get Sorted: Mass FOMO erupts!
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If only a collective "fear of missing out" would suddenly spread like a virus when it comes to all of us getting the government contribution of $521 each year in our KiwiSaver accounts. But alas, the numbers show mass apathy, unfortunately. Or perhaps something else is at play that is harder to see. Doesn't anyone want a big five hundy? Each year the government matches 50 cents for every dollar we put in to KiwiSaver, giving us a maximum of $521. Some quick maths shows that all we need to do is put in double that amount in order to get everything we're due, or $1,043, which works out to just over $20 a week. Unfortunately it looks like large swathes of the population don't know this exists.
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Know your cycles - a guide to Kiwisaver investing when interest rates are low
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Cyclists know a bit about making progress when the going gets tough. They know the extra effort it takes to muscle through a headwind, the zen-like calm it takes to climb a steep hill, and the importance of being on the right bike. They are all things KiwiSavers could learn from as they face the lowest point in the interest rate cycle ever, and hard going on the sharemarket. Their years of happy free-wheeling are over, and investment experts say it may be time for many to upgrade to a faster bike, and to start pedalling harder.
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David Boyle on the 'classes' of KiwiSaver
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If you are reading this and are one of the 2.5 million people already in KiwiSaver then you can feel pretty pleased with yourself. But not so fast: there are a few tips and tricks you may be missing out on that could give you an awful lot more to smile about. Most people fit into one of four types when it comes to their strategy for getting into KiwiSaver.
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KiwiSaver dip normal
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If the value of your account has gone down, the best thing to do is absolutely nothing, unless you really need the money immediately. While you have your money invested with a KiwiSaver provider, you are effectively holding units in that fund. You still own the same number of units, increasing all the time. Just right now they are worth a little less.
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