Why are people not in KiwiSaver?
Analysis by Commission for Financial Capability of negative comments on social media and internet discussion boards, plus emails from listeners:
– Lack of security
– Government policies
– Other “better” investments
– Earning too little to bother
Q&As:
– Loan within family might work, but there’s lots to consider
– How to find KiwiSaver funds that are pretty much fully invested in shares
– No rules about KiwiSaver fund names
– Tax rate should be called “marginal” — or should it?
Q&As:
– Couple should make children their priority while the kids are young
– KiwiSaver gives children a good start, despite the lack of incentives
– Don’t blame bank for getting son’s KiwiSaver tax rate wrong
– Expanding the “cut back on gifts” idea to birthdays, Christmas and Mother’s Day
– Inflation tougher on superannuitants, but reader still has options
Plus:
– I’m doing two talks in Tauranga on November 3
THE BEST WAY TO INVEST IN SHARES
A listener’s letter and Mary’s response:
– Starting early is good
– Drip feeding is good
– You don’t need to research companies
– Buy more or less randomly — but vary industries
– Understand a share’s volatility
Q&As:
– Low interest not as bad as it seems — when we check out inflation
– Ideas for retiree struggling because of low interest
– Should retirement savings go into high-earning KiwiSaver fund?
– Apartment ownership not worry-free
– My tax gripe shot down
Low fees are key, but what other factors play into savvy KiwiSaver planning?
Is it wise for a husband and wife to be in the same KiwiSaver scheme?
Q&As:
– Reverse mortgages risky in early retirement
– Last week’s correspondent probably meant rental losses are now ring-fenced
– Tax system lacks integrity, here and in the UK
– Did I muddle money and percentages last week?
– Another idea for couple moving to Coromandel but wanting an Auckland option
Ways to boost your everyday saving. Last time we looked at setting a savings goal. This time, it’s other tips to boost savings: Open a separate savings account; Pay yourself first; Start small and gradually increase savings; Play mind games — take a “pay cut” or use a picture; Seize big opportunities when expenses fall or income increases; Take inspiration from champion savers or extreme saver movements.