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Budget for retirement

Think about what weekly expenses might be in today’s money.

• Take basics into account, such as insurance, maintaining the house and car, or replacing a major appliance.
• Build-in some funds for the unexpected.
• Think about the big things that might need to be paid for later on – like a new car, a new roof, or repainting the house.

1.What happen if you retire?

Many Kiwi Saver providers will let you remain in their Kiwi Saver Scheme and continue to manage your money for you even if you are eligible to withdraw – so although you won't receive any member tax credits, you can continue to save. You may also be able to consolidate any other retirement savings into the same account.

2.Time frame to their retirement?

You can access your Kiwi Saver savings at the age of 65. Once you’ve reached the age of 65 you can opt-out of this requirement and make a partial or full withdrawal, however, if you do so you will forego your entitlement to the Government contribution and compulsory employer contributions.

3.How much $ to invest?

When you join Kiwi Saver, you either pick a fund you want to invest in, or if you can't decide, the IRD picks one for you. After that, your employer must contribute the value of 3% of your gross salary into your Kiwi Saver fund. You will also have to contribute at least 3% of the gross amount.

4. How much do they went to pay in management fees?

Key Takeaways. The average fee for a financial advisor's services is 1.02% of assets under management (AUM) annually for an account of $1 million. An actively-managed portfolio usually involves a team of investment professionals buying and selling holdings–leading to higher fees.