Back to Blog

Questions about your KiwiSaver and Insurance under the Covid-19 environment?

Insurance policiesAll of the insurers that we work with and that our clients have insurance in place with (Life, Trauma, Income Protection/Mortgage Repayment and Health/Medical insurance) have confirmed to us that there are NO EXCLUSIONS for existing policies if you become unwell from Covid-19. This is a different situation to the travel insurance, where most of the policies DO exclude any claims relating to pandemics. If you are in a situation where you have severely reduced income, some of the...

March 26, 2020

It is time in the market - NOT timing the market - the role of Finology in investing

It is tempting to stop making regular investments into markets when there is volatility and you hear the media pronouncing that the markets have 'crashed', 'plummeted', 'plunged', or even when they breathlessly talk about the markets falling - the biggest fall in 10 years. As financial planners, we do many things that are valuable to our clients, develop a retirement savings analysis so that our clients can see how long their money will last in retirement, make sure that they have well diversifi...

March 10, 2020

Investment Markets and Recent Fluctuations

You will have heard comments in the media recently that the stock-markets have ‘had their worst day since the Global Financial Crisis in 2008’.  You may have noticed that your KiwiSaver and other market linked investments have fallen in value as a result of these market falls. We thought it would be useful for you to have some context around these comments to help put this into perspective for you. For the last 12 years, the stock-markets have had the longest ‘bull run’ in recent hi...

March 10, 2020

Warning to DIY investors investing in foreign investments

New Zealand is a nation of Do It Yourselfers.  From the queues at Mitre 10 and Bunnings, to people managing their own investments because they can do it better than a professional. Although we DIY our gardening and some minor garden building projects, we do tend to disagree on the ability of most people to build a well diversified and well performing investment portfolio without professional help. A recent NZ Herald article highlighted the risks of DIY investing, when an investor had a $2,0...

February 13, 2020

Fast fashion and the impact on the environment

As our society becomes more socially aware, it is becoming clear that 'fast fashion' is a major contributor to not only landfill, but also as an intensive user of resources. As many of you will recall, when we were growing up - you would buy an item of clothing and expect it to last for a number of years.  Now, it appears that some items are only designed to be washed several times, before they are added to the landfill.  Personally, I have always preferred classic clothes made of good...

February 10, 2020

Building or Renovation insurance - who is responsible?

Is it you or is it me? Who covers what when it comes to renovating or building? Is it the Owner or the Builder? This is a question that is often raised late in the piece when considering building or renovating, however it should be one of the earliest points of discussion. Whilst undertaking a new build or renovating an existing house can be a pretty exciting time, it’s also a time to be seriously organised.  There’s the potential for things to go wrong in a project, starting right fr...

December 18, 2019

Airbnb Tax Crackdown

The shared use economy has seen a plethora of homes turned into Airbnb’s and of vehicles turned into ‘uber’ taxis.  While this has changed the way that many people travel, a number of the owners of the homes and vehicles have forgotten that they are generating an income. And that income is required to be declared and taxed in New Zealand.  ‘Cashies’ from tradespeople and the hospitality sector have been actively targeted by Inland Revenue in recent years. With the smart tech...

December 18, 2019

Dart Throwing Monkeys - can they do better than active investment managers?

In December 2019, Kiwi Wealth released a research report analyzing the actual returns of tracking ‘passive’ investment funds, versus random ‘dart throwing monkeys’ versus ‘active’ investment management. The research confirmed what we have known all along, which is why our preferred investment strategy is to select active investment managers, who make actual decisions on what stocks to include in your portfolio’s. Bernard Hickey wrote an excellent article on Newsroom, putting the re...

December 18, 2019

The Sky City Fire - who will pay the bill?

The Deconstruction of a Fire At 1:15pm, Tuesday 22nd October a fire broke out on the roof of the New Zealand International Convention Centre in Auckland. Close to 100  construction workers were on site at the time. What followed? -          Large scale disruption for over 48hours forcing areas of the central business district to be shut down, in part by the smoke that was deemed toxic.  -       &nbs...

December 18, 2019

Rental income - new ring-fencing rules

The rules for reporting rental income have changed from the 2019-2020 income year.  This means that you can’t offset losses on your rental properties against other income and new rules apply to deductions claimed for residential properties. Residential property deductions will now be ring-fenced, meaning that they can only be used to offset income from residential property. This means that the residential property deductions you claim for the year cannot exceed the amount of inc...

December 18, 2019

Enduring Power of Attorney - why you need to put them in place

These documents are often associated with ‘old’ people, who are losing their mental capacity.  And yes, we agree, having Enduring Powers of Attorney in place are very important at that stage of life. However, we recommend that all of our clients put the two Enduring Powers of Attorney in place from the start of their financial planning process, as you never know what might happen. I am working with a specific example right now, a 50 year old very active woman (skier, golfer) had a sever...

December 4, 2019

Using an adviser adds more than 5% to a client's portfolio

Research recently carried out in New Zealand by Russell Investments, recently confirmed the findings in the USA and Australia, that using an adviser can add 5.2% pa to a clients portfolio returns. There are three areas that advisers make a difference to their clients investment strategy: 1. Rebalancing (0.4% extra return) 2. Getting it Wrong (2.9% extra return) 3. Avoiding Behavioural Mistakes (1.9% extra return) In addition, there was the intangible benefit for making investing simpler, but als...

December 4, 2019

Online Relationship Break-Up Tool

The Ministry of Justice has released an online collection of information for people navigating a relationship break up.It says while it has had a lot of helpful information on its website, it has been told it could be overwhelming."We took a look at how we were presenting information to people navigating a relationship break up and came up with a more individualised approach."The new tool acts like a funnel. People select the topics that are important to them and can then delve deeper ...

November 20, 2019

Sole Trader vs Company?  What should I do? (with thanks to Beany)

Our support team at Beany are asked this question frequently so if you've ever wondered.......The short summary is that if you are a Beany client there is very little additional cost and 3 key advantages - read the  blog (I'm a Sole Trader, Should I restructure my business to a Company?) to find out what they are.What happens when the shareholding of your company changes This one catches out a lot of people as shareholdings are often altered in periods of major chan...

November 20, 2019

Changes to the Trust Law

Over the last 4 (or 17 depending on your source) years new legislation for Trusts has been working it’s way through the consultation and legislative process.It has now been passed into law as the Trusts Act 2019 and it comes into effect on January 30th 2021 and replaces two pieces of existing legislation – the Trustee Act 1956 and the Perpetuities Act 1964.  The goal is to make the trust law more accessible and to clarify and simplify the core trust principles and essential obligations ...

November 20, 2019

Renting a vehicle and insurance issues

...

October 2, 2019

Permanent or Temporary Loss of your Capital

...

October 2, 2019

More changes for rental property owners and tenants

On 27th August 2019 - more changes were introduced for Landlords and Tenants - but these didn't seem to have as much publicity as the 'warm and healthy homes' changes but are important. These changes were in the Residential Tenancies Amendment Act 2019 and include the following important changes.  The Act now limits tenants’ liability for careless damage in rental properties. gives the Tenancy Tribunal full jurisdiction over cases concerning premises that are unlawful for residential purpos...

October 2, 2019

Walking the Talk - Moneyworks new Wellness Coach and Mobile Fitness Trainer - Sally Mellor

When we meet with our clients we spend most of our time talking about what has happened in the last year, and how clients are going in terms of reaching their goals.  One of the main goals for our clients is having a financially comfortable retirement. As a consequence, we worked out that we do is - 'Help get you to and through retirement'. While we arrange the financial solutions for people to achieve those goals, we also spend a lot of time discussing health and wellbeing with our clients an...

September 5, 2019

It wasn't my fault - why do I have to claim? (With thanks to Bridges Insurance)

At Moneyworks, we aren't fire and general insurance specialists, but it is our job to make sure that our clients understand the issues that they have to think about in relation to these types of insurances (car, house, contents etc).  We work with Bridges Insurance Brokers personally, and have referred a number of our clients to work with Bridges.  This is an article from a recent newsletter of Bridges. ...

September 5, 2019

Understanding New Zealand Superannuation – and noting the pitfalls

...

September 3, 2019

Changes to KiwiSaver Act to enable people with life -shortening congenital condition to access KiwiSaver funds before age 65

...

September 1, 2019

Asia - the powerhouse

...

July 31, 2019

Should you buy those 'extended warranties'?

Over the last 4 years, I have purchased a number of electrical and IT products – Apple Mac’s, iphones, ipads, new hand held vacuum cleaners, a robo vacuum cleaner (that I quickly fell out of love with).  You will be familiar with the sales pitch in the shop or on line – ‘would you like to purchase an extended warranty for that for an extra $59’. ...

July 31, 2019

‘Junk insurance’s – available at your local bank and retailer

Part of our job in getting you to retirement is making sure that you have the right insurances in place – like income protection, trauma, life, health insurance and checking that your house, contents and other insurances will work for you.  In retirement, often the only insurance cover that you need is your fire and general insurance (house, contents etc), and possibly health insurance if it fits in your budget. For our clients that have opted to meet us each year, we review the relevance of...

July 31, 2019 Posts 1-25 of 346 | Page next
 

This product has been added to your cart

CHECKOUT