american
five Shocking ^ Retirement Facts
Despite the Dow hitting all-time highs, millions of
Americans still have a dismal outlook when it comes to
their own ability to retire.
World Class New Zealand Awards
2013 category winners
world class women
Perfecting the small stuff reaps
huge rewards for Kiwi innovators
Consider these five statistics:
46% of Americans have less than $10,000 saved for
retirement. (Employment Benefit Research Institute)
40% of baby boomers now plan to work until they die.
(AARP)
36% of Americans say they don't contribute anything at
all to their savings. [CNBC]
87% of adults say they are not confident about having
money for a comfortable retirement. (Lifehappens.org)
Expected retirement age is up to 67 from age 63. (Zero
Hedge)
www.moneynews.com
Name: Geraldine McBride
Category: Information and Communications
(Sponsored by AUT University)
Position/Company: Former President, SAP North
America; advisory board member Victoria University
biology school's applied science centre.
Think before taking on
another's debt
Being asked to guarantee a loan is like being asked to test
out a guillotine. Everything's fine while the blade's safely
suspended in the air. But if it starts falling, your neck's
on the line.That's iLender chief executive Jeff Royle's
explanation of what it means to act as guarantor.
With more than 20 years in the mortgage broking
business, he's seen too many heads roll when it all goes
wrong.You might want to help out a mate or a family
member but guaranteeing someone's loan is a huge
commitment. If the borrower defaults for any reason, the
debt falls squarely upon your shoulders.
Name: Annabel Langbein
Category: Creative
(Sponsored by Wellington City Council)
Position/Company: Founder and principal of Annabel
Langbein Media Ltd; Celebrity Cook, Food writer and
publisher.
TALK IT THROUGH
"There's a real problem about financial abuse in this
country," says Age Concern chief executive Ann Martin.
LIMIT YOUR LIABILITY
Most lawyers worth their salt advise against guaranteeing
a loan, and spell out just how dangerous it can be. If you
do choose to go ahead, they can help you lower your risk.
ASK HARD QUESTIONS
If someone's asking you to guarantee their loan, it means
the lender doesn't think they're a safe enough bet on their
own.
GET OFF THE HOOK
How long your neck's on the line depends on the
agreement you've signed.
www.stuff.co.nz
Name: Judith Hanratty
Category: Investment and Business
(Sponsored by BDO Auckland)
Position/Company: Former Company Secretary,
BP; Director, Partner Re Ltd; Chair, Commonwealth
Education Trust
www.h e rmagaz in e .co.n z | 13
