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Henry Tongue

Henry Tongue

1 in 3 Americans have $0 saved for retirement

Posted in Retirement on

Saving for retirement is not an area of financial strength for Americans. Too often, meeting the financial demands of today means delaying, diminishing or simply never starting to save for tomorrow. “There are plenty of obstacles Americans claim are in their way when it comes to saving for retirement: credit card debt, student loan debt, low wages, the need to save for a child’s college education, and the list goes on,” said Cameron Huddleston, Life + Money columnist for GOBankingRates. “Although all of these things can put a strain on our budgets, they don’t necessarily make it impossible to save for retirement.”

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Henry Tongue

Henry Tongue

Ancient Greek money lessons

Posted in Retirement, Savings on

OPINION: Let me tell you a story about an ancient Greek hero who can help you get richer. It's Ulysses, a kind of Greek Maui, though without Maui's ambition, and with a much worse sense of direction. Ulysses was one of the Greeks who destroyed the ancient city of Troy, and then got hopelessly lost sailing home.

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Sam Goldwater

Sam Goldwater

How to save a first-home deposit

Posted in Savings on

The deposit required to buy a house in many parts of New Zealand looks more like a Lotto win than an amount you might save. In Auckland, the lower-quartile house price is about $680,000. That means, if you want a 20 per cent deposit, you will need $136,000. In Christchurch, first-home buyers need to save about $75,000 and in Wellington City, just under $100,000. So, how do you get there?

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Jeremy Thomas

Jeremy Thomas

Want to have a comfortable retirement? Here's how

Posted in Kiwisaver, Retirement, Savings on

Retirement - whether it's at 65, 67 or some other age entirely - probably seems a long way off. But if you can get on track now, your future self will thank you for it. Here's how to get sorted for retirement in five easy(ish) steps.

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Nicola Hines

Nicola Hines

Women fall further behind in retirement savings race

Posted in Kiwisaver, Retirement, Savings on

New Zealand's retirement savings gender gap just keeps getting bigger, new research shows. ANZ said, on current savings patterns, women were likely to retire with almost $80,000 less in their KiwiSaver accounts than men. General manager of wealth products and marketing Ana-Marie Lockyer said it was disappointing to see women falling further behind in their retirement savings. She said the average balances of women members of ANZ's KiwiSaver scheme, the largest in the country, were 19 per cent lower than men's. Women had an average $13,333 compared to $16,527 for men. A year ago, women were only 15 per cent behind.

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Ryan Edwards

Ryan Edwards

Fee debate welcomed

Posted in Kiwisaver on

The Commission for Financial Capability has welcomed fresh debate on the touchy subject of KiwiSaver fees after a new report suggested there was an "unhealthy focus" on fees - rather than the overall outcome delivered by various schemes. The Australian-based SuperRatings research house says that substantial improvements have been made over the past year in terms of member engagement and servicing, but chief executive Adam Gee says that "the race to the bottom on fees remains particularly concerning."

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Nicola Hines

Nicola Hines

Perils of the passive strategy

Posted in Kiwisaver, Savings on

There has been a huge amount of media commentary on the relative merits of active versus passive investing, particularly in relation to KiwiSaver funds. Most media commentators, including Weekend Herald columnist Mary Holm, argue that passive KiwiSaver funds are better because they are cheaper. Holm maintains that active funds underperform passive managers on an after-fee basis, mainly based on United States research, and she repeatedly encourages individuals to invest through passive funds rather than active funds. But this debate should also include an assessment of fund managers as financial intermediaries. The argument should not be about fees only.

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Henry Tongue

Henry Tongue

SuperRatings Releases 2017 Kiwisaver Ratings

Posted in Kiwisaver on

SuperRatings has now released its formal 2017 ratings, awarding seven schemes its highest Platinum rating. Now in its fourth year of rating the KiwiSaver system, SuperRatings recognises that substantial improvements have been made over the year in terms of member engagement and servicing, albeit the challenging investment environment has resulted in subdued returns for many KiwiSaver members and the race to the bottom on fees remains particularly concerning.

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Sam Goldwater

Sam Goldwater

Members may lose the ‘race to the bottom’ on fees, researcher warns

Posted in Kiwisaver, Savings on

A new analysis has debunked the assumption that low fees inevitably equate with better outcomes for KiwiSaver investors. In fact, the study, released by Australian research house SuperRatings last week, found there was “often an inverse relationship between fees and investment outcomes achieved by members”.

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Ryan Edwards

Ryan Edwards

KiwiSaver relief for quake-affected

Posted in Kiwisaver on

Commerce and Consumer Affairs Minister Paul Goldsmith has announced relief for KiwiSaver members who are suffering financial hardship following the November 14 earthquakes, by making it easier for them to withdraw their funds.

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