Get your free retirement planning guide

Get your free retirement planning guide

by | 2 Aug, 2023 | General, Life after 65, Membership

Have you started thinking about your retirement plan? If you are reading this, congratulations! You might be taking your first small steps to consider what retirement might look like. No matter how far away retirement may feel, getting started is always a good idea, no matter how small the step.

 

The Financial Services Council (FSC) has recently published its Retirement Planning Guide, a comprehensive resource to help you navigate the path towards a secure retirement. Whether you are just starting your career or nearing retirement age, this guide offers valuable insights and tools to plan your retirement effectively.

 

The FSC is a non-profit member organisation with a vision to grow the financial confidence and wellbeing of New Zealanders.

 

While retirement is a significant milestone, it may feel like there is time to put off planning for it until later. Retirement requires careful planning; the earlier you plan for it, the more time you allow yourself to reach your goals. Good retirement planning may mean helping you achieve the lifestyle you want to live without exhausting your savings.

 

This guide helps you think about retirement planning by outlining two critical considerations: how much to save for retirement and how much you can reasonably spend during your retirement years. It then explains key concepts and provides valuable tools for this planning process.

 

To view and download the FSC’s Retirement Planning Guide click here.

 

Please note:

This Retirement Planning Guide is general information only. The views and opinions expressed do not necessarily reflect those of the FSC. It is not intended to constitute legal or financial advice and does not take your individual circumstances and financial situation into account. We encourage you to seek assistance from a trusted financial adviser, legal or other professional advice.

 

The names of any third parties are additional resources that you access at your own risk and the FSC takes no responsibility for any third party content.

 

The FSC and its employees make no express or implied representations or give any warranties regarding this guide, and we accept no responsibility for any loss, damage, cost or expense (whether direct or indirect) incurred by you as a result of any error, omission or misrepresentation in this guide.

KiwiSaver now open to 65+

KiwiSaver now open to 65+

by | 8 Aug, 2019 | KiwiSaver, Life after 65

From 1 July 2019, the age 65 restriction on joining was removed and this group of New Zealanders (and permanent residents) can now join and invest in KiwiSaver.

KiwiSaver is now an investment option for New Zealanders who are 65 or older. So why join KiwiSaver at this stage of life? Well, it provides an opportunity invest into a professionally managed savings product without your money being ‘locked away’ (as is the situation for those aged under 65 except in certain circumstances). The other thing is that life expectancy is increasing meaning your savings need to work harder to last over a longer period.

Christian KiwiSaver Scheme offers members a choice of three investment funds – Growth, Balanced and Income. The Income Fund has the lowest level of risk attached to it.

Christian KiwiSaver Scheme offers its members a KiwiSaver scheme that is invested under universally accepted Christian values. Long before it became trendy we were investing our funds in an ethical and responsible way. As Christians we like to make investment choices that resonate with what we believe.

While Christian KiwiSaver Scheme does not offer its members a “pension” we can pay your savings to you as a regular income each month or quarter. The frequency is your choice. You can also withdrawal large amounts (or your whole balance) at any time. We do not currently charge a transaction fee for regular payments or other payments.

KiwiSaver now open to 65+

What type of investor are you?

by | 31 Jan, 2019 | Investment, KiwiSaver, Life after 65, Membership

Being in the investment fund that best suits you is very important. Not knowing can cost you money if you make decisions that are a reaction to investment markets (e.g. a negative return) rather than a change in your personal circumstances or your feelings about risk.

Changes in the investment markets don’t change your investor type, changes in your personal circumstances are what influences your investor type.

You can also have more than one investor type (this can also be called your ‘investor profile’) depending on your personal investment goals. Confused? The Sorted website has some good information on it to explain how you can work this out and decide which type of Fund may best suit you. You can sign up on the Sorted site and save your personalised findings.

Sorted also has a personality quiz where you can find out if you’re a money maestro, practical domestic, authentic dreamer, money mechanic or one of the 12 other types.

Keep in mind that your investor type is not a description of you (people who are adrenaline junkies can be conservative where their money is concerned!). Your investor type is a measure of your financial circumstances, your personality, the timeframe you have to invest, and most importantly, how much risk you feel comfortable taking or can afford to take. The higher the returns you chase, the more you need to accept risk and run the chance that your investments will fluctuate in value or lose value.

Sorted has suggested the following attributes for various investor types.

We offer three distinct investment funds within the Christian KiwiSaver Scheme – the Income Fund, Balanced Fund and Growth Fund. This gives our members access to a good range of investment options, according to their particular circumstances. Members can invest in more than one of these Funds.  This means each member can fashion an investment selection that suits the type of investor they are, and it can be changed at any time in the future.

Changes in the investment markets don’t change your investor type, changes in your personal circumstance are what influences your investor profile/type.

 

 

Options when you reach 65

Options when you reach 65

by | 14 Mar, 2018 | Life after 65

If you’ve saved for your retirement, your 65th birthday is a red letter day as you can access your hard earned KiwiSaver savings. However, life doesn’t stop when we reach age 65 and you have options with regards to your KiwiSaver savings. In most cases, it’s hard to predict just how long we will need our savings to continue to work for us. The good news is you don’t have to make a quick decision.

Here are a few ways our current members can manage their KiwiSaver money from age 65.

  • Keeping your account open

Reaching age 65 does not mean members have to close their KiwiSaver scheme account. Many Christian KiwiSaver Scheme members are keeping their accounts open after age 65 and this also allows them the option to add further savings

  • Regular partial withdrawals

Regular withdrawals allow members to top up their retirement income while leaving the remaining balance in the Christian KiwiSaver Scheme working for them. You can arrange regular fortnightly or monthly withdrawal amounts from your Christian KiwiSaver Scheme account.  A $200 minimum applies to each regular withdrawal.  We can change the minimum withdrawal amounts at any time.

  • Other partial withdrawals

Occasional one-off withdrawals are another way to add to your retirement income.  Members can leave their money invested in Christian KiwiSaver Scheme after reaching age 65 and make a withdrawal at times when they need a cash injection. A $1,000 minimum applies to a one-off withdrawal.

  • Full withdrawal

As the name suggests, this is where members take all their savings out of their Christian KiwiSaver Scheme account. This ends their membership of KiwiSaver.

Only you can make the right choices about your KiwiSaver account. But it’s good to know that KiwiSaver doesn’t need to end at 65!