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The Dow Jones turns 125 years old

If you have been investing for some time - even it has just been in KiwiSaver, you will know that markets go up and down in value depending on market events, but over time they do increase.  This is one of the things that we spend quite a bit of time talking to our clients (particularly newer ones) when markets go down. The human reaction when markets go down and you can't seem to see the upturn, is to pull all your funds out (which is the wrong thing to do if you are a long term investor, ...

June 9, 2021

Cyber Security issues and protections are getting far more important

As your financial adviser, we work with you to reach your goals, in particularly to get you to and through retirement - ethically (for those who want ethical investments).  But a big risk to your financial security is if you have a cyber attack or have your identity stolen. While identity theft has traditionally been something that you read about in books and articles in the USA, it definitely happens in New Zealand.  This article in the New Zealand Herald (which hopefully isn't paywal...

June 9, 2021

Abuse of people knows no limits

We all know the stories of people being abused within closed doors, and New Zealand has the Family Violence Act (was Domestic Violence Act) to recognise the harm that abuse incurs. Email and social media are common tools used by abusers, but it was shocking (to me) to hear about the latest tool - using the messages on bank statements to continually abuse people. This excellent article in the Sunday Star-Times recently investigated the issue, where abusers are transferring small amounts of money ...

June 9, 2021

Do you know what is in your insurance policy?

Fair Go and the media regularly cover situations where insurance companies don't pay out on a claim.  Having been an intermediary between insurers and the insured party for 25 years, we have seen very few claims not paid out. The key is to ensure that you disclose all relevant information (which can be more information than you might think, and it is our role to help you to do this when you are signing up for a life/trauma/health/income protection insurance policy) and that you un...

May 10, 2021

Some interesting things that we have read or listened to recently

This post is a little different, as it doesn't have a commentary on these articles, but they are interesting articles that might be worth a quick look at: How to dismantle the Absurd Profitability of Nuclear Weapons (2019, but still interesting)Boom: 88 KiwiSaver Funds invested in nukes.  & War of words over nukes Nicole Perlroth: they cyberweapons arms race (Podcast of interview with Kim Hill) - so interesting, Carey is reading the book. :  In her new book, This Is How ...

May 10, 2021

Ethical Investing Update

As we have signalled, we are working on a big project this year to become internationally certified as Ethical Investment Advisers, and to be able to provide our clients with certainty over what 'nasties' they have exposure to within their portfolio.  This is an update on where we are up to. UNPRI Academy and RIAA CertificationCarey has completed her United Nations Principles of Responsible Investment Academy Certification, and is now in the process of becoming Certified by the Responsible ...

May 10, 2021

No more cheques - technology has taken over

You may be aware that I am quite a fan of technology and adapt technological advances (in the belief that it will make my life easier, but we all know that technology brings its own challenges - it is always nice when it just works smoothly). Two months ago I destroyed all the cheque books that had been sitting at the bottom of my drawer unused for years as I prefer to use the phone app or online system for electronic payments. However, I am aware that many people are still more comfortable usin...

April 1, 2021

Stuffing up NZ Super - make sure you get it right

This blog post comes from an excellent article written by Rob Stock that highlights how easy it is to muck up your New Zealand Super entitlements.  Here is a link to the article. Some important points about making sure that you are aware of all your entitlements relating to NZ Super: 1. Check that you fulfil the residency tests for application for NZ Super.These residency tests have been static for many years, but there are mutterings that these might be changed in the future (to make the t...

April 1, 2021

Investment Markets - updated graph

From time to time fund managers put together a wallchart for their advisers to hang in our offices for clients to see what has happened in investment markets over time. We feel that it is more useful for us to provide this to you to review and wonder over.   To download a copy of this PDF - see the link below This wallchart, produced by Booster, one of our favoured KiwiSaver fund managers (particularly their Socially Responsible Investment KiwiSaver funds), is one of the best that we h...

April 1, 2021

Is your PIE tax rate too high - going forward you can get a refund

A subtle change to PIE tax rules was delivered behind the scenes, which benefits investors.  If you get your PIE tax rate wrong and overpay your PIE tax, you will get a tax refund going forward. Historically - since PIR rates (Prescribed Investor Rates) and PIE's (Portfolio Investment Entities) were launched in 2007 - if you under-stated your PIE tax rate you owed the IRD money, but there were no refunds if your PIE Tax rate was over-stated.  For the tax year ending 31 March 2019 ...

March 8, 2021

Tax issues end of 2021 Financial Year

We are coming up to the end of the 2021 Financial and Tax Year (on 31st March), and there are few things that we thought you should be aware of.   New Marginal Tax Rate from 01/04/2021If your income is over $180,000, from 01/04/2021 there will be a new marginal tax rate of 39%.  If this applies to you, please contact your adviser as it is important that your adviser has this tax rate set up properly on your investment portfolio.  You will also need to ensure that yo...

March 8, 2021

Buy now - pay later - what could go wrong? Well....

Showing my age, when I was a teenager, if I wanted to buy something, I needed cash, or I could do this thing called 'lay-buy'.  You found your item and the shop put it aside and you made regular payments.  When you had paid it off, you got to take the item home and enjoy it.  I purchased many items (clothes, music) by this method. Then came credit cards, debit cards, and now the 'retail phenomenon' of  'Buy Now - Pay Later'.  This fits in with the world of instant gratif...

January 27, 2021

Romance Scams and how to avoid them

There was a recent article in the New Zealand Herald (premium subscription) headed up ‘Catfished: Kiwi loses $840,000 to online romance scams’. This was the largest reported loss in a long term romance scam, but it is reported that nearly $19 million was lost to online fraud last year (to 30 June) at an average of $4,777.  But of course, this was only the reported amounts – a lot of people are embarrassed to report the losses. Surprisingly people aged 18-40 were involved with almost h...

December 11, 2020

Ethical Investing and New Zealanders opinions

very year Mindful Money – the New Zealand charitable trust created to help people monitor the ethical allocations of their New Zealand investments and RIAA (the Responsible Investment Association of Australasia) run a consumer survey to monitor peoples’ opinions on ethical investing. Over time the number of people who ‘care’ about ethical investing has increased, and continues to increase.  You can find the report here. Some of the highlights of the 2020 survey are: ·  &n...

December 11, 2020

Buying a property at auction - a personal experience

Call me old…. But I haven’t been involved with the purchase of a property for nearly 20 years.  Peter and I built our dream home in Cambridge, and loved the process, and sold our properties in Turangi (one by negotiation and the other by deadline treaty), but buying a house – nope, no modern day experience. Until a few months ago.  A family member decided to purchase a house in Cambridge – at the peak of the property market euphoria (well time will tell whether it was the ...

December 11, 2020

More financial scams about - BEWARE

This information is from the FInancial Markets Authority - and we are repeating the message in case we can save at least one person from being caught in a financial scam.  PLEASE pay attention to this and think carefully before engaging in any investments or financial opportunities. The Financial Markets Authority (FMA) has reported a steep rise in the number of investment scams attempting to impersonate legitimate New Zealand businesses since the emergence of COVID-19.FMA research has also...

November 19, 2020

Three big changes in a post-pandemic world

This information is copied from a recent Fortune magazine newsletter that we received.  Given that 2020 has been a big year, we thought we would share the information with you - as an indicator as what is ahead in the next decade.Fortune - CEO Daily NewsletterAccenture CEO Julie Sweet has a unique window into what’s going on in the world of business. Her company serves hundreds of large companies in 120 countries, with a half million employees and more than $40 billion in revenu...

November 12, 2020

Generate KiwiSaver actively engaging in 'impact investing'

Moving towards an 'ethical approach to investment' for those of our clients that want this approach means that we are talking to our existing and future fund managers about how they are investing, and why, and making sure that there is substance behind their claims. We were impressed to see Generates' announcement that they were the cornerstone impact investor in The Salvation Army Community Bond. The Community Bond is a fixed interest, 5 year impact investment yielding 2.30% per annum and ...

November 12, 2020

The Six Stages of Ethical Investment Awareness

At Moneyworks, we are undertaking our international certification and education to become 'ethical/responsible/sustainable' advisers.  Part of this is understanding the different 'claims' to ethical investing (which I will use as a catch all for all the terminologies). Fund Managers start off doing nothing about ethical investing, then migrate to 'ESG integration', where they start understanding what 'non-ethical/responsible/sustainable' investments they hold in their portfolios.  This...

November 12, 2020

The purpose of New Zealand's retirement income system

New Zealand Superannuation is a cornerstone to the retirement income system in New Zealand, and as we often say in our seminars, it is one of the most generous public pension schemes in the western world.  Everyone who is entitled to the income receives the same amount before tax, regardless of how much you have earned, how much you do earn and how many assets you have. In the 1990's there was a high 'superannuation surcharge' where your New Zealand Superannuation income was abated bas...

November 12, 2020

What is the ideal age to retire?

Obviously the ideal age to retire is when you are ready, and retirement doesn’t need to mean sitting around all day doing nothing.  Your retirement might involve spending more time with your family, grandchildren, or travelling, volunteering, getting involved in physical activities like hiking, cycling or taking up a new hobby that you have always wanted to pursue. As healthcare gets better we can stay fitter and healthier for longer (unlike Nathan Rothschild – who was the wealthiest ma...

September 16, 2020

What is a typical lifespan in New Zealand today?

Answer: Much longer than it used to be!  What does this mean for your retirement planning?  The current life expectancy in New Zealand is 82.21 years And interestingly, while the lifespan in New Zealand is increasing, the lifespan in the USA is decreasing (currently 78.7 years).  If this is something you are interested in finding out more about – check out the book ‘Tightrope’ by Nicholas Kristof – it is a fascinating insight into what has happened in the USA in the last 4...

September 16, 2020

3 Psychological tricks to help you save money

We have heard from people that with Covid lockdowns (and the lack of travel opportunities overseas) that they have more money in the bank.  Of course, we don’t want to have another lockdown. A client shared the video below with us, and we thought it would be useful to share. It is only 5.47 minutes. Although this is an American video, the concepts still work – the 3 psychological tricks are: 1.    Pre-commitment. (one app to help you with this is ‘stickk’) 2. &nb...

September 16, 2020

Stolen or hacked credit cards – a hassle, but what is the real story about how much it costs?

Over the last four months quite a few of our clients have had their credit cards stolen or hacked.  While there are some protections provided for your funds through your bank when your credit card is used fraudulently, it is a hassle to sort out. You have to work out everywhere that the credit card was used, and contact that company or supplier and update your new credit card (not to mention not having a credit card for a period while the new one arrives).  This is one reason that we r...

September 16, 2020

How do New Zealanders see their retirement future?

This survey of 15,519 adult New Zealanders was carried out from 2018 -2019 by the CCFC (Commission for Financial Capability - which was the Retirement Commissioner).  The Key Findings are: 1. Most people do not plan financially for retirement2. People expect NZ Super and KiwiSaver to be the basis of their retirement income3. KiwiSaver enrolment is high for the employed but many have limited knowledge about KiwiSaver4. Only 29% of respondents could access 3 months work of cash in an emergenc...

August 20, 2020 Posts 1-25 of 386 | Page next
 

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