The key to having a good
retirement (and you can)
Knowledge is power – and that is very much the
case when it comes to retirement. It does not
matter if you are 25 or 75, women of all ages can
and will benefit from planning and learning about
retirement and finances. You don't need to be a
rocket scientist either;
• Get started on a savings
plan today
• KiwiSaver is good, but for
most of us that will not be
enough
• Any saving is better than no
saving
• Learn the basics or more
about investments
• Get professional advice
from an independent adviser
or suitably qualified mentor
• Make a plan and stick to it
• Review your plan at least
annually with your adviser
• Be prepared to be flexible
• Never, never ever give up
– Winston Churchill
Property – your home
Keep an eye on property prices, because at some point you may downsize your house
to release some more cash - the fallback position.
Since you do not know how long you are going to live, "keep your powder dry"
and do not use up your fallback position until later on – say age 77 to 80.
House prices are a very interesting issue and I would not be so brave as to forecast
where they will go. However, the government recently tweaked the rules and asked the
Reserve Bank to ensure house prices do not rise too quickly.
Excessive house prices for young families were recently referred to in the media as
"a form of child abuse" and the government is working on cheaper first homes as I
write.
House prices are very high compared to wages in NZ. Taking all these factors into
account, one would be unwise to count on significant capital gains, year in, year out.
So ladies, you can have a good retirement, but to get it right, you need to take
action and seek the knowledge. If you do, you will gain a lot of satisfaction and peace
of mind.
Good luck.
Alan Clarke
www.investandretire.co.nz
Alan is an independent authorised financial adviser (AFA) and his disclosure statement is
available on request and free of charge.
Knowledge is power
– and that is very much the case
when it comes to retirement
www.h e rmagaz in e .co.n z | 39
