"A man's a man for a' that." - Robert Burns, 1795 [1]
Nigh on Burns Day feels like an appropriate moment to reflect on Scotland's most beloved poet. Robert Burns was no mere wordsmith; he was a revolutionary who believed wisdom and dignity belonged to everyone, not just the privileged few. Writing in Scots dialect rather than formal English, he made poetry accessible to common people in the 1700s; a radical and transformative act in its time.
Burns lived during the Age of Enlightenment, when intellectual discourse was largely confined to universities and aristocratic salons. Yet here was a ploughman-poet who insisted profound insights could come from anywhere: the farm, the tavern, ordinary folk going about their daily lives. His poetry gave voice to universal human experiences in language the people could understand.
An 18th-century Scottish poet has more to do with modern finance than you might think. Burns' commitment to democratising culture mirrors a shift that's been happening in the investment world, culminating in what might be New Zealand's most egalitarian financial innovation: KiwiSaver.
Burns' Revolutionary Accessibility
When Burns penned verses celebrating ploughmen, mice, and haggis, he was doing something deeply subversive. He was adamant that insight into the human condition – love, loss, joy, struggle – wasn't the exclusive domain of the educated elite. His genius lay in understanding that emotional intelligence and wisdom about human nature mattered more than formal education or social standing.
Consider "Auld Lang Syne," sung around the world each New Year; a meditation on friendship and memory, accessible to anyone. Or "To a Mouse," where disturbing a field mouse's nest becomes a profound reflection on planning and uncertainty. These weren't lofty academic exercises but observations from lived experience.
Burns recognised that a farmer could possess a deeper understanding than a nobleman. He celebrated the common person through genuine respect for their capacity for wisdom and feeling. This wasn't sentimentality; it was a fundamental belief in human equality that was genuinely radical for his era.
The Long Road to Investment Democratisation
For most of human history, investing was an aristocratic pursuit. You needed significant capital, insider connections, and often formal education to participate. Even in more recent history, the average person's financial planning extended to perhaps a savings account and hoping their employer's pension would suffice.
The journey toward broader access has been gradual:
Stock exchanges initially served merchants and wealthy traders.
The 20th century brought mutual funds and pension schemes, but these remained largely employer-controlled or required significant individual initiative and financial literacy.
The democratisation of investment accelerated with regulatory changes, technology, index funds, and online platforms.
Yet each advance still required knowledge and a confidence many New Zealanders lacked. We had democratised access… but barriers to participation remained.
KiwiSaver: The People's Purse
Enter KiwiSaver in 2007 – New Zealand's fiscal equivalent to Burns’ poetry [2]. Rather than another standard investment vehicle, it was a fundamentally egalitarian structure that would have made the Scottish bard proud.
KiwiSaver's genius lies in its true accessibility. It actively enrols people. Employers and employees both contribute. The government provides incentives. Millions of New Zealanders who might never have considered themselves "investors" were suddenly building wealth through capital markets.
The design was deliberately inclusive, as automatic enrolment meant participation became the default. Contribution rates started modestly, making it achievable for low-income workers whilst still meaningful. Importantly, the employer contribution requirement meant workers weren't building wealth alone – it was a structural recognition that wealth-building works best as a collective endeavour.
KiwiSaver has become the backbone of New Zealand's capital markets, channelling billions into productive investment [3]. As of 2024, over 3 million New Zealanders are members, with total funds exceeding $100 billion. This isn't just personal nest eggs; it's the foundation of New Zealand's investment infrastructure, funding businesses, infrastructure, and innovation.
Every working Kiwi (the cleaner, the teacher, the retail worker, the tradesperson) can build capital alongside CEOs and professionals. A person earning minimum wage with KiwiSaver has access to the same professional fund management and diversification as a high earner. The difference is scale, not opportunity.
This is investment democratisation at its finest. Not because it's simple, but because it's genuinely even-handed. Both employer and employee contribute and benefit.
Why the Human Element Still Matters
Burns understood that success in life wasn't just about opportunity; it was about how we think, feel, and respond to circumstances. Modern research tells us the same: emotional intelligence drives financial outcomes more than traditionally valued metrics like education or age [4][5].
KiwiSaver provides the vehicle. Successful wealth building still requires the human qualities Burns celebrated:
Patience over panic
Contentment over materialism
Long-term perspective over short-term thinking
Burns understood human nature deeply: our capacity for both wisdom and folly, our tendency toward both courage and fear.
Consider the emotional journey of investing, where markets are in a state of flux, and news cycles fan the anxious flames. The temptation to react emotionally and flee markets during downturns, or chase returns during booms, undermines long-term success.
The most successful KiwiSaver investors aren't necessarily the wealthiest or most educated. They're the ones who maintain emotional discipline. They understand that a market correction isn't a catastrophe but an opportunity. They resist the urge to constantly check balances and tinker with allocations. They stay the course through volatility, because they know what Burns knew: that the best outcomes often require patience, faith, and the wisdom to see beyond immediate circumstances.
Understanding your own emotional responses is the foundation of sound decision-making.
The Need for Wise Counsel
Burns also knew the value of good companions and sound advice. "Auld Lang Syne" isn't just about nostalgia; it's about trusted relationships that endure through time.
Having access to KiwiSaver is transformative, but maximising its benefit requires guidance. Understanding contribution rates, choosing appropriate funds, adjusting as circumstances change, planning for retirement – these decisions benefit enormously from experienced counsel.
Consider the choices KiwiSaver members face:
Which fund suits your risk tolerance and timeline?
Should you contribute more than the minimum?
How does KiwiSaver fit with buying a home or other financial goals?
When should you adjust your strategy as you age?
These aren't trivial questions, and answers vary greatly depending on individual circumstances.
Just as Burns made poetry accessible by expressing profound truths clearly, good financial advice makes wealth-building accessible by clarifying complexity without oversimplifying it.
A man's a man for a' that – every person deserves both the tools and the counsel to build lasting wealth.
Nick Stewart
(Ngāi Tahu, Ngāti Huirapa, Ngāti Māmoe, Ngāti Waitaha)
Financial Adviser and CEO at Stewart Group
Stewart Group is a Hawke's Bay and Wellington based CEFEX & BCorp certified financial planning and advisory firm providing personal fiduciary services, Wealth Management, Risk Insurance & KiwiSaver scheme solutions.
The information provided, or any opinions expressed in this article, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from a Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz
Article no. 441
References
[1] Burns, R. (1795). A Man's A Man For A' That. In Poems Chiefly in the Scottish Dialect.
[2] Inland Revenue. (2007). KiwiSaver Act 2006: Implementation and Overview. Wellington: New Zealand Government.
[3] Financial Markets Authority. (2024). KiwiSaver Annual Report 2024. Wellington: New Zealand Government.
[4] Brown, K. W., & Ryan, R. M. (2003). The benefits of being present: Mindfulness and its role in psychological well-being. Journal of Personality and Social Psychology, 84(4), 822-848.
[5] Klontz, B., Britt, S. L., Mentzer, J., & Klontz, T. (2011). Money beliefs and financial behaviors: Development of the Klontz Money Script Inventory. Journal of Financial Therapy, 2(1), 1-22.