Retirement? Mission Possible

I have to applaud the government of New Zealand because they’re being proactive in trying to get their citizens to sign up for a retirement plan. They’ve created KiwiSelect which allows customers to sign up online for a new retirement plan or to switch kiwisaver from one plan to another, quickly and easily.

Website Makes It Easy

The secure website makes it easy to see what you must do to have the funds you need when you retire. You start with a simple questionnaire: your age, your income, and your status i.e. are you an employer or self employed, etc. From there you progress to the next page which questions your attitude toward money and the implications your age may have. When saving, time is your biggest asset. The younger you start; the easier it is.

Simple Questions: Revealing Answers

By answering some simple questions, your attitude about money and risk can be used to match you with a fund that feels right to you. There are several KiwiSaver providers with each offering different funds. Some of these funds have virtually no risk. Their growth is consistent though slower than those with more volatility.

Some savers, particularly those who are older and with less time to earn, like to know that they’re not risking their nest egg. They don’t mind slow growth as long as it is steady. Other savers might be young enough that they can rebound if the high yield they want has a few valleys with the peaks.

By answering simple questions, KiwiSaver can match you with a compatible fund so you’re comfortable with your investing. You can pick from several providers with a range of funds, and they’ll all be consistent with your investment attitude.

Online Resource

KiwiSaver can be your online resource for learning more about investment funds, choosing the right fund for you, and even switching from one fund to the other without charge. They’re not owned by any of the investment providers so there’s no conflict of interest.

The entire website is free for you to use so take advantage and explore. Study the Ratings of the Recommended Funds so you’ll know what to look for. Read the FAQ. Contact them by free phone, email, or fax if you have any questions. They really are there to make investing for retirement easy and convenient. In fact, once a year, they will review your fund choice. If they spot anything, for instance, if your fund looks too high risk for your current age, they’ll notify you.

Takeaway Truth

Retirement is the biggest expense anyone will ever have. Now is the time to do something about it, not when you’re facing your senior years.

Tags: investment, new_zealand, Retirement, savings