STEP 2
Savings
"Spend what is left after Saving NOT Save what is left after Spending."
Working out how much you need to save for your retirement seems difficult. How much will I need when I retire? How much do I need to save? And where do I put my savings?
We help people crunch these numbers – and more importantly, get them started on the right track.
The savings ‘trick’ is to ignore the Guidelines initially, start where you can afford, and increase a bit every year. You might not be able to afford $200 a week right now – but can you afford $20? It’s starting that’s important.
KiwiSaver? Absolutely.
You put in a bit, your employer puts in a bit and the government contributes – but it shouldn’t be your only retirement fund. Only put the minimum into KiwiSaver because it’s tied up until 65.
