Confession time about retirement plans and goals. I’m going to commit sacrilege here. But it’s not as if I haven’t thought long and hard about it. So okay, deep breath, here we go: Contrary to what many will tell you, it’s quite possible to be financially together and not have a detailed written plan on how to fund your retirement — or even a retirement savings goal.
Wanted: Clear thinking on GST. A lot of nonsense has been spoken about GST since John Key more or less said the government will increase that tax — probably to 15 per cent — and use the money to cut income tax rates.
Oh no, oh no, it’s off to work we go. Returning to work after a holiday is rarely easy. Back when I was employed — as opposed to self employed — I remember always feeling as if I were in the wrong job on my first few days back at work.
Q&As: Which investment advisers charge fees — and why that is a good start. Plus: Winners of draw to go to Taskforce breakfast and lunch.
Q&As: Don’t try to time markets. Stick with your regular retirement savings, although you may want to modify where you save; Teen’s worries are unfounded about how Dad’s income would affect KiwiSaver first home subsidy — but other subsidy issues still undecided; Tax-wise, it’s better to borrow for taxable activities than to buy a family home. Plus: Clarification on the taxation of interest on loans between family members.
Is saving always good? In some circles, saving has a bad name. People think it’s about deprivation — “I either save or I spend, and spending is more fun.”
Q&As: KiwiSaver the last straw for employer of “whinging, incompetent” New Zealanders; Reserve Bank offers some reassurance for reader worried that NZ banks could be caught up in their foreign parent’s woes…; …But if you’re still worried, consider the safest investments of all, government securities.
Q&As: Calculator tells reader to stop saving and live it up a bit; Reader who finds KiwiSaver nauseating has a scary list of things that could go wrong…; …But another one applauds KiwiSaver, while sitting on the home ownership sidelines.
Q&As: Man lives in NZ but his savings are in the US. When should he bring the money here, in light of the dollar’s fluctuations?; 3 Q&As on when the KiwiSaver tax credit begins — depending on when you join and/or start making contributions. Also: More winners in our giveaway of “KiwiSaver: How to make it work for you”.
KiwiSaver: Be in to win. Ever since the government announced its added incentives to KiwiSaver last month, everyone is talking about the retirement savings scheme. And well they might. While I still have reservations about the distortion of savings decisions, and while many employers are angry at being forced to contribute, practically all individuals will be better in than out.