Turning a lump sum into a smooth income
The FMA released a survey of New Zealanders approaching retirement has found one in four people are unsure of how to manage the money in their KiwiSaver funds when they reach 65.
The Commission for Financial Capability (CFFC) and the Financial Markets Authority (FMA) chose Money Week to release the second wave of research into how well older New Zealanders are preparing for retirement.
The findings from the survey focus on KiwiSaver and highlight the need for more useful information about what to do with the lump sum people will have accumulated in their funds when they reach 65, so they can plan their futures.
Only around half of those approaching retirement felt the information available from their KiwiSaver provider was useful for making decisions about their retirement savings and for working out how much they will have when they are 65.
That's what we are here for...
At Keystone Advice Group, we provide Authorised Financial Advice to help you manage the transition and ensure that your hard earned money lasts longer than you do. Check out more detail here