Determining how much you will need to save for retirement will depend upon several variables, including your current age, health, income and level of debt. Here are a few guidelines to help you evaluate your retirement needs.
A power of attorney (POA) can be a difficult topic on several levels, especially for those who don't or won't understand it because they don't think anyone should act on their behalf. Or in the case of an offspring, have their eyes on a financial prize when the elder departs.
Retirement ought to be a happy time. You can set your own schedule, take long holidays, and start spending all the money you've been saving.
It's easy to avoid discussing money with your parents, and in some families, the subject is almost taboo.The topic doesn't become easier to broach as parents and children age, but it does become more important.
Early in February after a long period of relative calm, the world found out that markets do contain a level of volatility they move up and DOWN and sometimes they can move quite quickly. What does this all mean to your average KiwiSaver investor… not much.
Bill Gates wisely pointed out that "most people overestimate what they can do in one year and underestimate what they can do in 10 years".
Currently in Australia there is more than $17 billion in unclaimed superannuation, which is not an insignificant sum of money, and we anticipate that a large proportion of these funds belongs to Kiwis.
The balanced fund joins its Asset Class growth and conservative siblings, which are ultimately managed by US factor-based investment house Dimensional Fund Advisors.
The issue of ageing populations and funding retirement schemes is not a modern one - the Romans faced the same political and fiscal problems 2000 years ago.