My top 10 money tips — Part 2
– Diversify mortgage types and terms
– Ladder term deposits
– Don’t time markets — despite current trends. Keep drip feeding in KiwiSaver and elsewhere
– Don’t have to own a home to do well financially.
– Get set up and stay put: kill debt, have emergency fund, right investments for you.
My top ten money tips — Part 1
– Be in KiwiSaver — get the free money
– Get the right risk level — most important
– Don’t assume success will continue
– Diversify within one type of asset: shares, bonds
– Diversify over different assets
– Plus some listener questions
Winners of 10 copies of updated edition of “Rich Enough? A Laid-back Guide for Every Kiwi”
Celebrating 10 years of RNZ segment. Contestants had to write what they learnt from it, in 60 words or less.
Themes include:
– Save regular small amount by direct credit
– Make a will
– Repay debt
– Spend on fun in retirement
– Ladder term deposits
– Leave KiwiSaver alone in downturns
– KiwiSaver works well for self-employed
Why it’s best to choose low-fee funds over high-performing funds
– But first: 10th anniversary of this segment coming up. Here’s how to win a book!
– Research shows 2024 was a great year for NZ-based world share funds…
– … and NZ share funds did well too
– But was your fund’s performance all that strong? Most funds did worse than the share index.
– Especially true with long-term returns
– Adjustments for survivorship bias — many funds closed down
– Conclusion: Outperformance doesn’t last. Choose low-fee funds.
Tips on buying a house or apartment
– Now it’s a “buyers’ market” — but don’t try to time markets
– Get a LIM — important info
– See property at different times
– Check the neighbourhood
– Online valuations
– Building inspection
– Negotiating — including auctions
– Very important: be prepared to walk away. There are always other good houses!
Renters — are you a financial failure if you don’t buy a home?
– Changing attitudes to renting for life
– Are you financially worse off renting?
– Worry about being kicked out
– Other negatives of renting
– Positives of renting
Emergency (or rainy day) money — how much? And where?
– Lack of fund is source of stress
– Priorities with your money
– How much?
– Where to save — including idea for those with mortgages
– How to build a fund
– A “charity fund”?
– If you use the money…
Are New Zealanders getting insurance all wrong?
– Survey: we don’t insure what matters most
– Why that might be?
– Does self insurance work?
– Is insurance a good deal?
– Ways to cut insurance costs
Plus:
– Self-employed should stick with KiwiSaver
Making use of KiwiSaver annual statements
– What statement tells you
– Where to get more info on your situation in retirement
– How tax on KiwiSaver works
Plus:
– Make sure you have a will
Which government has been better for KiwiSavers?
– KiwiSaver at the start
– Bad changes — National-led governments
– Good changes — Labour-led governments
– 2025 Budget changes — winners and losers
Plus:
– Easy way to do hard quiz question