It is now possible for anyone over the age of 65 to join or re-join KiwiSaver. There are many retirees who cashed in their KiwiSaver funds without consideration of the options available to them, and there are some who just never got around to joining. For these people, there is now a reprieve. As of 1 July, being over 65 does not exclude anyone from joining KiwiSaver. More people are working past the age of 65. While it...

  For some time now investors have been able to buy Smartshares on the NZX. Smartshares are Exchange Traded Funds (ETFs) that invest in a wide range of securities which track the performance of an index such as the NZX 10 Index. The advantage for smaller investors is being able to easily and cost effectively invest in a wide range of securities with as little as $500. More diversification means less risk and smooth...

  Over the last fifteen or so years, trillions of dollars have poured into investment funds which passively track indexes such as the S&P 500 or the NZX 50. An index fund matches the components of a particular index and its performance will therefore match the performance of the index. The main selling point for index funds is they offer investment diversification with low management fees. In comparison, active...

  A combination of more flexible working arrangements, increased longevity, demographic changes, delayed retirement and the search for greater personal satisfaction is bringing about a shift toward what has been called ‘the portfolio life’. Charles Handy wrote about designing a portfolio life in 1989 in his classic book ‘The Age of Unreason’. He proposed that instead of basing our working lives around a sin...

  A recent survey undertaken by KiwiWealth of New Zealanders perceptions of wealth and approaches to wealth creation shows some interesting yet predictable results. It turns out we are a very conservative bunch and that has implications for our ability to create wealth. About one third of all Kiwis surveyed believe they are struggling to make ends meet or just managing to get by. Over 40% of those surveyed said ...

  The Government declared some time ago that the focus for this year’s budget is wellbeing. Increasing the wellbeing of New Zealanders is a very laudable aim and indeed, there is a noticeable global trend at a country and an individual level for the pursuit of wellbeing to take precedence over the pursuit of economic growth and wealth creation. People want balance, fairness, equity and happiness. The wellbeing of...

  Being single is a status most women experience at some stage of life. Relationships are more fluid and marriage is often delayed or doesn’t occur at all. Then there is the prospect of relationship endings or death of a partner. Now, more than ever, it is important for women to take charge of their financial affairs and indeed, this is what they are doing. Perceptions of women being useless with money are being ...

  There is nothing worse than carrying on through life and suddenly finding that for some years you have been making some basic mistakes in managing your money that have cost you thousands of dollars. Here are the top five mistakes to avoid: Spending everything you earn. Spending everything you earn now leaves you vulnerable to changes in your income and potentially unable to achieve significant and important ...

There is good news for those over the age of 65. From 1 July this year, being over 65 will not be a barrier to joining KiwiSaver, and anybody who has previously closed their KiwiSaver account will be able to join again. It makes a lot of sense to make this change, as more people are looking upon KiwiSaver as a long-term retirement solution, and it would be unfair to exclude anyone based on age. KiwiSaver can be used as ...

  The latest Retirement Expenditure Guidelines report published by Massey University paints a sobering picture. Using data from the Department of Statistics, the report looks at spending in retiree households and found that of the households considered, all are spending more than NZ Superannuation. How much more depends on where you live and how frugal or extravagant your lifestyle is. A two-person household living...