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| Thread ID: 88745 | 2008-04-08 01:28:00 | How much are you saving per week | sniperbabe (13589) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 656953 | 2008-04-19 02:02:00 | At the very least it will do better than bank interest rates, I'm sure. This 10% drop now might have lost me $130 or so, but that's nothing in the long run compared to the hundreds of thousands that will be in there in a few decades time. Hmm may I ask which KS provider you are with? I know that WestPac didn't have the best of runs and mine dropped 8%, also my funds I put in have not turned up for over 7 months since I started (thanks IRD), only the initial $1000. My mum on the other hand is using Gareth Morgan and she started the same time, has her $1040 she put in and she has 1% gain. Which is a darn sight better then mine. GMK also clearly shows where the money is going. |
trinsic (6945) | ||
| 656954 | 2008-04-19 02:19:00 | Hmm may I ask which KS provider you are with? I know that WestPac didn't have the best of runs and mine dropped 8%, also my funds I put in have not turned up for over 7 months since I started (thanks IRD), only the initial $1000 . My mum on the other hand is using Gareth Morgan and she started the same time, has her $1040 she put in and she has 1% gain . Which is a darn sight better then mine . GMK also clearly shows where the money is going . If the IRD hasn't yet put your money in, then that is a good thing, because you haven't lost on that money, and the IRD have to pay interest on that money too while they have had it . |
robbyp (2751) | ||
| 656955 | 2008-04-19 02:46:00 | Hmm may I ask which KS provider you are with? I know that WestPac didn't have the best of runs and mine dropped 8%, also my funds I put in have not turned up for over 7 months since I started (thanks IRD), only the initial $1000 . My mum on the other hand is using Gareth Morgan and she started the same time, has her $1040 she put in and she has 1% gain . Which is a darn sight better then mine . GMK also clearly shows where the money is going . I'm with Fisher Funds . I pay them directly as I'm self employed so the IRD doesn't handle my money on the way . I don't know how well they'll do long term, but Kiwisaver is not my retirement plan - it's some free money when I turn 65, and to buy a house with . I would like to retire a little earlier than 65 actually, so I'll be investing out of Kiwisaver as well . |
george12 (7) | ||
| 656956 | 2008-04-19 03:35:00 | I'm with Fisher Funds. I pay them directly as I'm self employed so the IRD doesn't handle my money on the way. I don't know how well they'll do long term, but Kiwisaver is not my retirement plan - it's some free money when I turn 65, and to buy a house with. I would like to retire a little earlier than 65 actually, so I'll be investing out of Kiwisaver as well. The problem with them is they are high risk, so prossibly wasn't the best choice if you are wanting to use money from it for a first house in the short term. Gareth Morgan as quite scathing of them to, due to them being 'fair weather funds'. If you are wanting the free money from the government, but don't want to use it as your main retirement savings, then a very conservative fund is possibily the best choice. I wouldn't be surprised if some high risk kiwisaver schemes go under. |
robbyp (2751) | ||
| 656957 | 2008-04-19 06:15:00 | Even if short term means five years from now? I didn't really think of that issue . So you're saying that in five years time when I want to draw out the money (5 grand I think?) for my first house, the fund might be at a 'low point' where drawing money out of it would lose me money? Fair point . . . . . |
george12 (7) | ||
| 656958 | 2008-04-19 06:21:00 | Even if short term means five years from now? I didn't really think of that issue. So you're saying that in five years time when I want to draw out the money (5 grand I think?) for my first house, the fund might be at a 'low point' where drawing money out of it would lose me money? Fair point..... As I am aware the incentives top ups by others (not yourself) gets credited to your kiwisaver account. That overall balance can rise and fall given the economic conditions. So yes, if its tubulent, and you asked for a high risk category, the balance can fall. I think a month or so ago .. I saw my balance and it dropped 3% or something. I am young and I asked for a high risk so its for me is fine. But if you want to take the money out in 5yrs, that is not a lot of time to smooth out the drops. I would suggest conservative for you so you are as much as immune away from this (current) tubulent thing we are getting now. |
Nomad (952) | ||
| 656959 | 2008-04-19 07:21:00 | Hmmm, it's something to think about. I don't mind short term drops though, and would it not be reasonable to think that a growth fund in 4-5 years would be doing better even at a low point than a very conservative fund after the same time? Or close enough? | george12 (7) | ||
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