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Thread ID: 140198	2015-09-02 05:40:00	Do you have KiwiSaver?	Ninjabear (2948)	PC World Chat

Post ID	Timestamp	Content	User
1407822	2015-09-03 00:33:00	thanks for classic 40 as young. We bought April last year so we missed out as well. Did you get the grant from housing nz? Ha, I'd call 25 years from retirement young enough! Yeah I think I got another 5k from HNZ.	Alex B (15479)
1407823	2015-09-03 01:02:00	No Its better to use that money to pay of Credit Card debt (now , if only I could stop spending ) God knows how Im going to afford to pay for rates, power , medical when 'retired' . All those bills will be horrendous by then . May have to sell the house & live of that money , hopefully , at current trends, will get $1M+ for my crappy old house by then :) Either that or keep working till I fall over & get put in the ground .	1101 (13337)
1407824	2015-09-03 01:36:00	I do, but only started it last year. When I look at what I could have saved if I'd started it 6 years ago it's extremely demoralizing. I'd highly recommend it, especially for anyone in their teens just starting work and wanting to save for a house. The government has some very nice incentives with Kiwisaver now, even though you do miss out on the $1000 startup thing.	wratterus (105)
1407825	2015-09-03 07:02:00	The returns in most of the "higher risk" kiwisaver plans in the last five years well outperformed the interest you pay on a typical mortgage, so you were much better off investing into that rather than paying off the mortgage faster. Current global shenanigans may peg those returns back a bit (depending on the smarts of your provider) but it's still a pretty good looking option. Of course knocking chunks off your mortgage principle while rates are low isn't a bad idea either... i disagree a bit there. from what i've seen you need to invest in middle risk investment to match mortgage interest rate. high risk isn't a lot more when looking at it over a long time. any money into kiwisaver is your mortgage principle. especially in the early years of the mortgage where you really need every little cent to knock the mortgage down so your actually paying off the principle rather than just interest.	tweak'e (69)
1407826	2015-09-03 07:43:00	Well my kiwisaver returned 12% last year and my mortgage cost me 6%. ... and the boss and the govt aren't kicking cash into my mortgage either... Seems like a no brainer to me.	fred_fish (15241)
1407827	2015-09-03 08:21:00	No-one knows which one is best. Low fees, or more complicatedly overall expenses (MER) is more important than some run of good luck by any particular provider, we're talking decades here. Can't seem to find the expense ratio website, used to be one. All funds offer risk profiles, and generally speaking they do give good info. Who knows what is going to happen decades hence? IMO kiwisaver is a CONSERVATIVE backstop to other stuff but each to their own. Unless you really need every dollar it is mostly good thing because of the subsidies. Employer pays 3% of your gross, and we all pay $521 each July to anyone enrolled. I did stop mine for a while a few years ago because I had to, theoretical financial gain doesn't match buying food. If you have credit card/hp type high interest debt, probably better to pay that first. Mortgage is a harder one, both is ideal. IMO if you are allowed to pay off your mortgage sooner with higher payments do it, it's about security. I went with Gareth Morgan when things started because I was sceptical about the whole investment industry (with justification, much research), and he'd made such a noise about being a good guy I figured if sh!t hit the fan he'd advocate for the right thing to be done. They have since been bought by kiwibank which I'm OK about as I have my other stuff there. Overall performance has been good in my case, who knows the future. Currently paying other things, but will I be putting more money in to my Kiwisaver when I can?. No. If you can get all the benefits on offer from kiwisaver and can have another savings scheme (or mortgage), do it.	mmmork (6822)
1407828	2015-09-03 08:41:00	Well my kiwisaver returned 12% last year and my mortgage cost me 6%. ... and the boss and the govt aren't kicking cash into my mortgage either ... Seems like a no brainer to me. thats just it ... last year. some of the info i've seen showed results like 20% last year, but since its begun it has average ~6%. what is it going to be over 30 years? with some, the highest earning has been the default fund. the other thing is fees, the higher risk funds have higher fees.	tweak'e (69)
1407829	2015-09-04 00:36:00	I was with Grosvenor for about 6 years, but switched to ASB, my main bank since primary school days (remember school banking - the orange ASB book?- 1969 when opened, day or so after Glen Campbell released that Playground Suzie song). Anyway Have not really looked into Kiwi-saver really. Depositing modest amounts. But I think it's a bit disruptive in terms of savings, debt reduction, credit and mortgage payments, etc, as noted in this thread.	kahawai chaser (3545)
1407830	2015-09-04 11:28:00	What a wonderful song: www.youtube.com	zqwerty (97)
1407831	2015-09-04 23:17:00	free money why wouldnt you. over the 2009 period i think the market was down i switched to conservative still got maybe 3-5% PA. the last year at least went back to growth got 20%. even if one used the money to pay off the mortgage the mortgage rate is no where near that. a house is just a roof over your head one could downsize and go to a cheaper area. sure you dont need to pay rent but the same applies to a cheaper place. but you still need money to survive post retirement assuming that we do still get the pension in the future. even if you lose half your value you still come out better due to the employer / govt contributions. on an average wage the 3% is about $30/week.	Nomad (952)
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