According to Westpac Massey University Fin-Ed Centre An Auckland couple would need to have a combined $552,000 in their KiwiSaver funds to have some choices in their retirement, based on the spending of today's retirees.
Over the break, the NZ Herald ran an article on Be resolved to get financially fit. Key points in the article include:
The New Zealand Hearld produced an article (16/09/2015) that they sourced from the Washington Post,
with some interesting "rule of thumb milestones" for your 40's.
They were as follows:
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.
Have you checked up on your KiwiSaver lately?
The Financial Markets Authority (FMA) is encouraging New Zealanders to consider during Money Week (31 Aug - 4 Sept 2015).
They are asking us to answer five simple questions to make sure that we are tuned in to our KiwiSaver investment.