Retirement Savings Spring is in the air and it is a good time to take a fresh look at your retirement savings plans. There have been many changes in retirement savings in recent times that mean you should review any schemes you signed up for prior to the introduction of KiwiSaver in October, 2007. At that time, a new type of savings and investment product was introduced, called a Portfolio Investment Entity (or PIE). The...

Make Money If financial freedom is something that you strive for, then no doubt you’ve pondered on how to get there by creating multiple streams of income. Many people dream of being able to sleep soundly at night, knowing that money is rolling effortlessly into their bank accounts, enabling them to retire earlier, work less, or achieve their other goals faster. For some, the dream is a reality; for most it is a wish th...

Rebuild your Wealth Coming out of a recession is like emerging from winter into spring. There are opportunities for new growth if you get rid of the dead wood and prepare for the new season. If you have lost your job or lost income there are four steps you should take to rebuild your wealth. Focus on Survival The first priority is to make sure you are living within your budget. A lower income means your expenses need to ...

Dont' Retire: Reformat! The word ‘retirement’ conjures up a range of confusing or even contradictory feelings for people these days. Once upon a time, retirement was a defined day, usually marked by a birthday, after which any form of paid employment ceased immediately. A combination of factors, including the end of compulsory retirement and increased longevity, mean that people are now working well past the age of el...

Retirement Villages Retirement villages are a great option for people who want a degree of independence in retirement but with the added benefits that come from communal living. There can be significant differences between retirement villages in terms of facilities and costs and it pays to do your homework before signing an agreement so as to avoid making costly mistakes. There are four basic legal titles commonly used fo...

Avoid a Mortgagee Sale!  Mortgagee sales are on the increase as a result of the recession and the property market downturn. If you are struggling with your mortgage payments how can you avoid having to sell your house? Here are a few tips that could help.  One of the first things you should do is talk to your lending institution or a mortgage broker. Your lender should be willing to work with you to find solutions to yo...

Money Conflicts According to the experts, arguments about money are one of the main causes of conflict in relationships and are also one of the key reasons why relationships end. Differences between couples over how money is spent, saved or earned arise largely from different attitudes towards money and risk, and different money values. Very often these attitudes and values stem from childhood, but not in a predictable wa...

UK Pension Transfers Immigrants from the UK and New Zealand residents who have worked in the UK usually find themselves leaving behind their locked-in pension funds when they arrive in New Zealand. This can present a number of difficulties. Once you become eligible for payments from your fund, you will need to pay tax on those payments as well as bank transfer fees. You will also be exposed to exchange rate changes so tha...

Credit Card Mistakes Credit cards are one of the most useful yet also one of the most dangerous modern financial inventions. Use them wisely and you can make money from them. Use them unwisely and you can lose everything you have. The worst mistakes you can make with your credit card are:   Paying only the minimum balance. You will lose the interest free period on new purchases and it will take a long time to repay y...

Retirement Blues One of the biggest financial risks faced by retirees is that they will run out of money before they run out of time.  A pension is only enough for daily living costs and those who have just a small sum saved can run out of money once they have had to replace a car and pay for home maintenance. There are a number of options for retirees who need to supplement their retirement funds.  First of all, check...