RNZ Radio 21 March 2019
Rainy Day Money: Why is it so important?; How much do you need?; How might you access the money — including through your mortgage; Where should you keep the money — if you haven’t got a mortgage.
Rainy Day Money: Why is it so important?; How much do you need?; How might you access the money — including through your mortgage; Where should you keep the money — if you haven’t got a mortgage.
When Couples Differ Over Money: A very important issue; Different attitudes to money; Coming into a relationship with different amounts of money.
How the New ‘Smart Investor’ Tool Can Help You. What is Smart Investor? Listeners’ letters and how the tool might help them: Investing beyond term deposits; Mortgage or KiwiSaver? And saving outside KiwiSaver; Diversifying beyond KiwiSaver.
Playing with numbers. 1. Dollar cost averaging: How it gives you bargains; Does it work if you have a lump sum? 2. Rule of 72: How long for an investment to double?; If investment has doubled, what was your return? 3. 40 years in KiwiSaver: 3 times as much in high-risk fund; 1.5 times as much with lowest fees.
An important message for everyone in KiwiSaver. Mary answers listeners’ questions on: Whether to switch funds when your balance falls; Whether to move KiwiSaver money to term deposits in retirement; How the self-employed can make the most of KiwiSaver; How to tell if your fund is low or high-risk.
Winning questions. The best 5 listeners’ questions are answered on air, and the questioners receive a copy of Mary’s new book. Their questions cover: Is house out of reach for couple in their 30s?; Ways to get value from your house in retirement; Which debt should you pay off first?; Couple worry about investing in Auckland apartment; How a beneficiary should handle an inheritance.
Sorting your finances step by step. Based on Mary’s new book “Rich Enough? A laid-back guide for every Kiwi”: Why it’s best to do it in steps. Why the steps are in this order. What the steps cover: Step 1. Start now — it’s easy; Step 2. Kill off high-interest debt; Step 3. Set up insurance — and a rainy day fund; Step 4. Join the best KiwiSaver fund for you; Step 5. Boost your saving painlessly — how and where; Step 6. Stay cool; Step 7. Head confidently towards retirement — and through it; Step ? (when it’s the right time for you — if ever): Buy a house, or sell one.
Reverse mortgages: A worry or a great idea? — What is a reverse mortgage?; The one big negative; What to ask about; Tell the family?; Conclusions.
Listeners’ questions about mortgages. Topics covered include: Fixed or floating, and how long a term?; Should you put extra money into mortgage or KiwiSaver?; Using KiwiSaver to buy a container house; Reverse mortgages vs ordinary mortgages for retirees.
Ways to curb your spending: Why we do unnecessary spending?; Estimate your spending — roughly; Attack habits; Watch out for slogans; The Christmas trap; Get support — FinCap; Tell lenders to go away — Debt Blocker.