Now Is A Good Time To Review Kiwisaver Decisions

Now Is A Good Time To Review Kiwisaver Decisions

The Retirement Commissioner says if you’re using this time of year to review your finances, don’t forget to add KiwiSaver into the equation.

“For many people, this is an ideal time to review your goals and budgets. If saving is one of your goals, the Quick KiwiSaver Calculator on the Sorted website will help you work out what KiwiSaver might be worth to you in the future.

“Given that more than 1.2 million Kiwis are already part of the long term saving scheme, it’s not surprising that the Quick KiwiSaver Calculator is one of the five most-used calculators on sorted.org.nz.”

With the help of the resources on Sorted, you can work out how much it would cost you each pay, what your employer would contribute and what you might save by 65. There’s also a KiwiSaver fees calculator so you can work out what fees you’ll be paying.

Diana Crossan says the New Year is traditionally a time when people think about changing jobs, so it’s also opportune to think about whether KiwiSaver is right for you.

“It’s important to make informed decisions about KiwiSaver. You need to work out if you can afford to make the contributions. That might mean using the Budgeting Calculator on Sorted so you can know just where your money goes each week and how much you can afford to save.”

Diana Crossan is also cautioning those people who think that because they have KiwiSaver, they can forget about the other parts of managing their money.

“It’s not about set and forget. Effective money management is a total package that involves regular reviews. It’s about setting your goals, having a realistic budget, and, most importantly, being conscious of how much debt you have and the best strategies for reducing that debt.”

There are a range of resources on sorted.org.nz to help with goal setting, budgeting, money tracking and KiwiSaver

ENDS

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