The right place for a lump sum depends on when you’ll need the money, what you want it to do for you, and how comfortable you are with ups and downs. Before it goes anywhere, it’s worth having a plan.
If you’ve inherited some money, reached a savings target, your term deposit isn’t earning enough, or you have a lump sum and aren’t sure what to do with it, we’ll help you work out where it should go.
Where it might have come from
An inheritance, the sale of a rental or the family home, your KiwiSaver at 65, or savings that have built up over the years. However it arrived, there’s no need to rush the decision.
How we help
We look at when you’ll need the money and how it fits with the rest of your plans. Then we suggest an investment approach to match, so money you’ll spend soon is kept steady and money for later has room to grow.
Term deposits are simple and low risk, which is why so many people use them. But if the interest isn’t keeping up with the cost of living, your money may buy less over time. Depending on when you’ll need it, there may be options that suit you better. We’ll look at your timeframe and how comfortable you are with ups and downs before suggesting anything.
It depends on your interest rate, how long you have until retirement, and whether you might need the money back. Because we have both mortgage advisers and investment advisers, we can look at both sides together.
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At 65 you can withdraw all or part of your KiwiSaver, or keep it going. Some people use it to pay off their mortgage, and others use it for travel. What’s right for you depends on your circumstances.
If you’re still working, it can make sense to keep contributing. Your employer may keep contributing too, depending on your employment agreement, but the government contribution stops at 65.
KiwiSaver is one of several places you can keep your money. It’s a tool for saving, and we’ll check you’re using the right tool for the right job. That means working out a plan for your retirement, sorting out your spending and investments, and then making use of the money.
Our advice covers which fund is right for you and how to use your KiwiSaver in a way that’s appropriate for your stage of life.
Your better financial future starts here
Your better financial future starts with a conversation with one of our financial experts. We offer 30 minutes free consultations to help give you peace of mind that we can help you where you need it most.
