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| Thread ID: 80628 | 2007-06-29 23:36:00 | Kiwi Saver | Myth (110) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 564478 | 2007-06-29 23:36:00 | Have you thought about it, or are you in the process of doing so? Interested in signing up to it, or not? What do you think of Kiwi Saver? Some links with information you might want to have a look at (including an interview done on TV One's Closeup): tvnz.co.nz www.sorted.org.nz www.maryholm.co.nz http://www.kiwisaver.govt.nz/ |
Myth (110) | ||
| 564479 | 2007-06-30 01:28:00 | What do you think of Kiwi Saver? I'm the category of don't earn enough to have spare money left over. But if I wasn't I still wouldn't. You don't get it until the government decides you can. Which is currently age 65 but likely to increase. What if you die first? Bet the relatives have a fight to get it. Even the part you contribute. |
pctek (84) | ||
| 564480 | 2007-06-30 01:32:00 | God help us if they ever make it compulsory. The next government that gets voted in could drop the old age pension so we have to rely on what we save. :yuck: | intel hunter (6666) | ||
| 564481 | 2007-06-30 01:46:00 | Nope, not joining it. | bob_doe_nz (92) | ||
| 564482 | 2007-06-30 03:28:00 | I'm the category of don't earn enough to have spare money left over. But if I wasn't I still wouldn't. You don't get it until the government decides you can. Which is currently age 65 but likely to increase. What if you die first? Bet the relatives have a fight to get it. Even the part you contribute.We had one of the Kiwi Saver brokers visit work yesterday, not to sell themselves, but to answer questions and enlighten the staff. If you have been investing into KiwiSaver, and die before 65, your contributions, as well as that of your employer (if they have been contributing to your fund) plus the interest earned; will be added to your estate. The only part of KiwiSaver that won't be added to your estate is the government contribution (I think, don't quote me on that). As said in the interview on Closeup, it is your money, with your name on it, and therefore part of your estate when you die. |
Myth (110) | ||
| 564483 | 2007-06-30 05:10:00 | If you have kids it is probably worth signing them up for Kiwi Saver now as even if you just put in $10, they will get the $1000 from the government which, for a current 5 year old, with roughly 5 % interest would double by the time they actually start work. | cshwone (11921) | ||
| 564484 | 2007-06-30 05:12:00 | If you have been investing into KiwiSaver, and die before 65, your contributions, will be added to your estate. . Yes, yes. Like we are entitiled to ACC payments if we have an accident. But try actually geting your hands on it. |
pctek (84) | ||
| 564485 | 2007-06-30 05:26:00 | Well I have signed up for it. :) Got three months now to decide what provider to choose ... |
Jen (38) | ||
| 564486 | 2007-06-30 05:38:00 | I'm going to take the 20$ a week I "invest" in Lotto each week and join Kiwisaver. Far better returns I think. |
Sp00n (9907) | ||
| 564487 | 2007-06-30 05:56:00 | The major factor that is making me hesitate is the state of the housing market: I will be looking for a house sometime between the next 1 - 3 years. However, house prices (especially here in PN) having been rising steadily for some years, and show no sign of slowing down (from my observations). If I sign up to kiwisaver, I get the advantage of an extra $3000 towards the deposit, plus being able to withdraw contributions made up to that point. That would be a big help. Trouble is, the minimum period before you can draw down that $3000 plus contributions is 3 years, in which time the housing market could have shot up even more, and the house that is only just affordable now would be well out of reach in three years time, even after the extra money contributed by kiwisaver. On the other hand, if I scrimp and save on my own, without kiwisaver, for the next 12 months, I'll be stretching the limits for an acceptable deposit on a house. If it's not enough, and I have to keep saving, then it may have been better to jump into Kiwisaver and commit to renting for at least another 3 years. Trouble is, the whole thing rests on what the housing market does, and even the best financial adviser is not going to be able to predict house prices in 1 - 3 years time, so I'm torn between being patient and praying for lower or static house prices in 3 years time, or accepting that house prices are as low as they're likely to be, and jumping in at the earliest opportunity. Having said that, I'll be joining Kiwisaver as soon as I've got a house sorted and payments stabilised. |
Lizard (2409) | ||
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