Maybe we are saving enough?
As this year is likely to be a big one for the savings industry it seems appropriate to start with a Blog the subject. The reasons I suggest savings will be a theme of the year is that KiwiSaver is likely to be properly born, as being more a twinkle in the eye as it is at the moment, tax issues will be centre stage as will regulation of the sector.
One of the arguments I'm often reluctant to be drawn too deeply into is household savings rates. The reason for my reticence is that it is one of those subjects you can argue with a raft of data and prove both sides of the argument.
While reluctant to bat for one side or another my inclination is that generally we, as individuals, are doing OK. On this basis I tend to side with the two protagonists of this moot - self-appointed superannuation guru Michael Littlewood and Treasury's Grant Scobie.
I understand the arguments from economists about household savings rates, but these often seem to be big picture economic arguments as opposed to something which is at an individual level.
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