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Jeremy Thomas

Jeremy Thomas

FMA warns - don't treat KiwiSavers as 'cash cows'

Posted in Kiwisaver on

The head of New Zealand's investment regulator has fired a warning shot at KiwiSaver providers urging them to be more proactive in engaging with their members. Rob Everett, chief executive of the Financial Markets Authority, said KiwiSaver providers could not afford to treat members as "cash cows" raking in millions of dollars in fees a year without doing anything to communicate with them other than the minimum.

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Sam Goldwater

Sam Goldwater

Generate in the Media!

Posted in Kiwisaver on

The Generate KiwiSaver Scheme has notched up another major milestone by hitting $200 million of funds under management. Henry Tongue, Generate’s CEO said: “Generate is very grateful for the support from all its members and advisers in reaching this milestone. The level of growth stemming from ‘word of mouth’ has been phenomenal and we are working harder than ever to keep up the high level of service.”

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Sam Goldwater

Sam Goldwater

Call for KiwiSaver education campaign

Posted in Kiwisaver on

The financial boss of a top accounting firm is calling for a public education campaign around KiwiSaver. John Kensington, head of financial services at KPMG said schools, employers and KiwiSaver providers need to teach people about the savings scheme or many New Zealanders could face a less than desirable retirement. Kensington's comments follow the firm's second report on the sector, which found that after six months there has been little change in the levels of financial literacy of KiwiSaver users.

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Sam Gapes

Sam Gapes

Get Sorted: Mass FOMO erupts!

Posted in Kiwisaver on

If only a collective "fear of missing out" would suddenly spread like a virus when it comes to all of us getting the government contribution of $521 each year in our KiwiSaver accounts. But alas, the numbers show mass apathy, unfortunately. Or perhaps something else is at play that is harder to see. Doesn't anyone want a big five hundy? Each year the government matches 50 cents for every dollar we put in to KiwiSaver, giving us a maximum of $521. Some quick maths shows that all we need to do is put in double that amount in order to get everything we're due, or $1,043, which works out to just over $20 a week. Unfortunately it looks like large swathes of the population don't know this exists.

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Henry Tongue

Henry Tongue

Know your cycles - a guide to Kiwisaver investing when interest rates are low

Posted in Kiwisaver on

Cyclists know a bit about making progress when the going gets tough. They know the extra effort it takes to muscle through a headwind, the zen-like calm it takes to climb a steep hill, and the importance of being on the right bike. They are all things KiwiSavers could learn from as they face the lowest point in the interest rate cycle ever, and hard going on the sharemarket. Their years of happy free-wheeling are over, and investment experts say it may be time for many to upgrade to a faster bike, and to start pedalling harder.

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Nicola Hines

Nicola Hines

David Boyle on the 'classes' of KiwiSaver

Posted in Kiwisaver on

If you are reading this and are one of the 2.5 million people already in KiwiSaver then you can feel pretty pleased with yourself. But not so fast: there are a few tips and tricks you may be missing out on that could give you an awful lot more to smile about. Most people fit into one of four types when it comes to their strategy for getting into KiwiSaver.

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Jeremy Thomas

Jeremy Thomas

KiwiSaver dip normal

Posted in Kiwisaver on

If the value of your account has gone down, the best thing to do is absolutely nothing, unless you really need the money immediately. While you have your money invested with a KiwiSaver provider, you are effectively holding units in that fund. You still own the same number of units, increasing all the time. Just right now they are worth a little less.

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Sam Gapes

Sam Gapes

How to get rich, slowly

Posted in Retirement, Savings on

People often ask billionaire investors like Warren Buffet for investment advice. He will ask them to forget about schemes to get rich quickly - his tips involve getting rich slowly. Learning to save is one of the most important pieces of advice he offers. It sounds simple. The tricky part for many people is putting the advice into practice.

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Sam Goldwater

Sam Goldwater

KiwiSaver falling? Don't panic

Posted in Kiwisaver on

If you've checked your KiwiSaver balance recently you could be feeling a bit down. Despite putting money into your fund it could be sitting at a lower level than at the end of last year. That's because share markets around the world have had a rough start to the year. But that's no reason to panic and switch your money to another fund or provider.

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Nicola Hines

Nicola Hines

Budget Buster: The curious case of the shrinking KiwiSaver balance

Posted in Kiwisaver, Savings on

Has anyone else's KiwiSaver balance been mysteriously going backwards lately? Despite faithful monthly contributions, mine's been shrinking faster than a The Biggest Loser contestant's waistline. It's not a great feeling watching your retirement savings melting away. But it's important not to panic before making any rash decisions.

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