KiwiSaver for non-employees of all ages — plus new research on KiwiSaver fund switching during Covid downturn
Switching funds: Young switched more, and members of bank schemes
Non-employees:
– Aged 18 to 65: $1,042 BEFORE June 30; rules for first year and turning 18 or 65; best to drip feed.
– Over 65: Good place for retirement savings; problems withdrawing money?
– Under 18: savings habit and learning about investing; aim at first home ownership
Q&As:
– What should siblings under 23 do with inheritance?
– Does this reader still need trauma or life insurance?
– Skip strategies to “get rich” in share market …
– … and maths won’t help you
– Share markets don’t necessarily move with economies
– KiwiSaver when you turn 18 or 65
– Covid government subsidies are taxable
Q&As:
– Timing the share market or sleepless nights? There’s another option
– Disappointed new KiwiSaver member should stick with it
– Don’t chase KiwiSaver returns from one provider to another
– No luck with KiwiSaver first home help for renter-landlords
Q&As:
– Fund returns tell us little — and beware fund managers who skite!
– Reader objects to my comments about default KiwiSaver providers who are being dropped
– A warning about bank accounts and bill payments
– How son could partly own parents’ house, and use KiwiSaver to do it
Q&As:
– KiwiSaver changes will hopefully help all members
– What happens to people in default KiwiSaver funds losing that status?
– Ways to reduce inequities in KiwiSaver
– Readers’ comments on last week’s multi-millionaire …
– … And his wife’s comments
– Another way to help children into their first homes …
– … And detail about last week’s suggestion
Q&As:
– Multi-millionaire can’t stop penny pinching
– KiwiSaver contributions to get the most from the government
– One way to help children buy a home — with Inland Revenue’s blessing
– What did a reader’s “private rant” mean?
– Reader disappointed about my comments on unpaid work
– A man’s perspective on unpaid work
Plus:
– Talks about my new book
Q&As:
– Mindful Money website helps you invest in what matters to you
– 3 KiwiSaver providers invest in community housing
– Another organisation helps people in debt traps
– Overpaying tax leads to big smiles
– 2 Q&As on tax ramifications of parents helping children into housing
– Readers wants unpaid work acknowledged
Q&As:
– Why one KiwiSaver fund has done extraordinarily well…
– … and will it — and other star performers — keep starring?
– Did I get it wrong about property managers last week?
– Is not raising rents poor business practice?
– Are pushy property managers only in Whangarei?
Q&As:
– Safe, accessible, and going backwards — invest beyond bank accounts
– KiwiSaver a good spot for grandfather’s gifts
– My “cavalier response” last week about p/e ratios angers reader
– Comments from a café in Thames
– Why long-term rental leases might not work…
– … And how they might be made to work
Is paying down your mortgage still the best strategy?
What to do with extra savings — beyond KiwiSaver minimums etc.
Also lump sums — inheritance, redundancy, win
– Mortgage used to be the winner — after include tax and fees. Now — with 2–3% loans?
– Other options: more into KiwiSaver, non-KiwiSaver funds, shares, rental property?
– The main issue: risk — needs to be high enough risk, long-term. Can you cope with volatility? Are you strong financially?
– Other issues: security (psychological and financial), simplicity, but diversification, learning about markets
– Penalties for paying fixed-term mortgage early
– Conclusion: perhaps do what you want!