Written by Darcy Ungaro, NZ Everyday Investor
When introduced, KiwiSaver was supposed to be a breakthrough for the everyday Kiwi.
Today, KiwiSaver's have a combined amount of almost $60 billion invested in the markets for their retirement. Here's some other good stuff it's helped us all achieve:
- Many Kiwi's are investing again in the share markets rather than just property. Sure, they possibly had no idea that's what they were doing when they joined, but a good result nevertheless.
- KiwiSaver is going to decrease the likelihood and magnitude of retirement poverty. It's unlikely government super will be enough, but now with KiwiSaver, there's a growing chance some of us will be in good shape
- KiwiSaver is increasing the financial resilience of our country - more investors, more funds floating around in the world from a country who's been acting a bit gun-shy since the '87 share market crash
Despite this, we'd argue that KiwiSaver is broken. And, if we don't take action soon we may get to 65 before we realise that we will not be able to have the retirement of our dreams. What do we mean by this? We joined Darcy Ungaro of NZ Everyday Investor in the studio to talk about this. Listen to the complete episode below:
If audio is not your thing and you'd like to check out the complete video, you can do that below as well:
NZ Everyday Investor is an NZ based podcast that's helping everyday kiwi’s build their wealth through knowledge and expert advice. They're on a mission to increase financial literacy and make investing more accessible for the everyday person! You can check out the show and other episodes here.