Her Magazine

Her Magazine June July 2013

Her Magazine is New Zealand’s only women’s business lifestyle magazine! Her Magazine highlights the achievements of successful and rising New Zealand businesswomen. Her Magazine encourages a healthy work/life balance.

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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

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