Maximizing Wealth in New Zealand: KiwiSaver Essentials

When expats get to New Zealand, there are a lot of financial things to think about and we cover advice on all of it.

It's hard for most to save money in New Zealand but joining kiwisaver as soon as you can and joining the right fund should be a cornerstone of your financial strategy.

To join kiwisaver you need to be a permanent resident, and if you are in employment you should contribute at least 3% of your salary and your employer needs to match it, and the government will put in $521 per year.

It sounds quite good but actually it's great. If you enrol age 35, earn $75,000 per year and get returns of 5% per year you will end up with a $398,810 lump sum at age 65.

If you can get 8% per year that lump sum would be worth $676,401.

So in this example choosing a good fund over an average fund could be a $277,591 decision. So get into kiwisaver as soon as you can, don't just go along with the default fund or your bank fund. A half hour chat with us might be the most valuable 30 minutes you ever spend!