About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Saturday, January 18th, 9:24PM
rss
Investment News

Too many Kiwis blowing KiwiSaver payouts

A survey for the retirement commission found more than a third of KiwiSavers are withdrawing their money, with 61% of people spending some of it on a holiday, 37% on home improvements or housing and 32% on a boat or new car.

Tuesday, April 8th 2014, 11:05AM

by Ralph Stewart

It is not that she wants you to stop having fun, but Ms Maxwell says as the amount saved in KiwiSaver gets bigger, it will be more and more important people do some planning."It's probably the biggest sum of money they've ever had available to them across a lifetime."

"We would strongly say take that moment to take a breather, get some very good advice."

Ms Maxwell says most people will live longer than they expect, so that is another reason to think about what you will do with your retirement savings.

NZIG is developing retirement income products that replace the old style annuity products were investors lost control of their capital, experienced high fees and often received low returns. The new products, originally developed in the US more than 20 years ago, allow investors aged 65 or older to remain in KiwiSaver style funds, have access to their capital at all times and receive a minimum annual income of 5% after tax for life.

Read more and join the debate: www.retirementadvising.co.nz

Ralph Stewart is a director of NZ Income.

« KiwiSaver belongs to the KiwiSaversLearning from investment failure »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend

Good Returns Investment Centre is brought to you by:

Subscribe Now

Keep up to date with the latest investment news
Subscribe to our newsletter today

Edison Investment Research
  • Fidelity European Values
    16 January 2020
    Disciplined process driving outperformance
    Fidelity European Values (FEV) is managed by Sam Morse, who selects stocks on a bottom-up basis, focusing on quality companies with strong balance sheets...
  • Deutsche Beteiligungs
    14 January 2020
    Guidance beat assisted by a successful exit
    Deutsche Beteiligungs (DBAG) posted net income of €45.9m in FY19, which is 20% above the upper end of its guidance range. This was supported by a...
  • Henderson Far East Income
    13 January 2020
    Access to Asian growth with solid 6% yield
    Henderson Far East Income (HFEL) performed strongly in 2019, unusually outperforming a rising market while continuing to achieve a well-covered dividend...
© 2020 Edison Investment Research.

View more research papers »

Today's Best Bank Rates
Rabobank 1.75  
Based on a $50,000 deposit
More Rates »
Cash PIE Rates

Cash Funds

Institution Rate 33% 39%
ANZ 0.10    0.10    0.11
ASB Bank 0.10    0.41    0.42
ASB Bank 0.10    0.59    0.56
ASB Bank 0.10    0.61    0.64
ASB Bank 0.15    0.66    0.69
ASB Bank 0.20    0.72    0.75
BNZ 0.10    0.10    0.10
Heartland Bank 1.00    2.59    2.70
Kiwibank 0.30    0.77    0.88
Kiwibank 0.90    1.81    1.89
Nelson Building Society -    -    -
SBS Bank -    -    -
TSB Bank 0.90    -    0.97
Westpac 0.35    0.36    0.38
Westpac 0.05    0.10    0.11
Westpac 1.40    2.16    2.26

Term Funds

Institution Rate 33% 39%
ANZ Term Fund - 90 days 2.00    2.06    2.16
ANZ Term fund - 12 months 2.60    2.74    2.86
ANZ Term Fund - 120 days 2.25    -    -
ANZ Term fund - 6 months 2.65    2.75    2.86
ANZ Term Fund - 150 days 2.40    -    -
ANZ Term Fund - 9 months 2.65    2.79    2.92
ANZ Term Fund - 18 months 2.60    2.69    2.81
ANZ Term Fund - 2 years 2.60    2.69    2.81
ANZ Term Fund - 5 years 2.65    2.74    2.86
ASB Bank Term Fund - 90 days 1.90    1.94    2.03
ASB Bank Term Fund - 6 months 2.55    2.62    2.74
ASB Bank Term Fund - 12 months 2.55    2.65    2.77
ASB Bank Term Fund - 18 months 2.50    2.59    2.70
ASB Bank Term Fund - 2 years 2.50    2.59    2.70
ASB Bank Term Fund - 5 years 2.50    2.59    2.70
ASB Bank Term Fund - 9 months 2.60    2.70    2.82
BNZ Term PIE - 120 days 2.25    -    -
BNZ Term PIE - 150 days 2.40    2.46    2.57
BNZ Term PIE - 5 years 2.50    2.59    2.70
BNZ Term PIE - 2 years 2.50    2.59    2.70
BNZ Term PIE - 18 months 2.50    2.59    2.70
BNZ Term PIE - 12 months 2.60    2.70    2.82
BNZ Term PIE - 9 months 2.65    2.75    2.88
BNZ Term PIE - 6 months 2.65    2.75    2.88
BNZ Term PIE - 90 days 1.90    1.94    2.03
Co-operative Bank PIE Term Fund - 6 months -    -    -
Heartland Bank Term Deposit PIE - 12 months 2.80    2.90    3.03
Heartland Bank Term Deposit PIE - 6 months 2.80    2.90    3.03
Heartland Bank Term Deposit PIE - 9 months 2.80    2.90    3.03
Heartland Bank Term Deposit PIE - 18 months 2.90    -    -
Heartland Bank Term Deposit PIE - 2 years 2.80    2.90    3.03
Heartland Bank Term Deposit PIE - 5 years 2.85    2.96    3.09
Kiwibank Term Deposit Fund - 90 days 2.10    2.14    2.24
Kiwibank Term Deposit Fund - 6 months 2.65    2.72    2.84
Kiwibank Term Deposit Fund - 12 months 2.75    2.82    2.95
Kiwibank Term Deposit Fund - 150 days 2.40    2.46    2.57
Kiwibank Term Deposit Fund - 120 days 2.25    2.31    2.41
Kiwibank Term Deposit Fund - 9 months 2.75    2.82    2.95
Westpac Term PIE Fund - 150 days 2.40    2.46    2.57
Westpac Term PIE Fund - 120 days 2.25    2.31    2.41
Westpac Term PIE Fund - 18 months 2.60    2.67    2.79
Westpac Term PIE Fund - 12 months 2.60    2.67    2.79
Westpac Term PIE Fund - 6 months 2.65    2.72    2.84
Westpac Term PIE Fund - 9 months 2.65    2.72    2.84
Westpac Term PIE Fund - 90 days 2.00    2.05    2.14
Westpac Term PIE Fund - 2 years 2.60    2.67    2.79
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com