Have Fun,
Discipline and Patience

7. Have fun. Have discipline and patience.

It is important to have fun and celebrate along the way.  There is no point saving everything for the future and not living now.  But there is a balance. We regularly remind our clients to celebrate milestones – repaying the mortgages, getting to a particular value of investments.  On the other hand, you do need to have that discipline to make sure that you are putting away money to achieve those goals.

While it would be easier if we all just won lotto or got a big inheritance, the reality is that the majority of people achieve their goals and have a good retirement because of good old hard work, regularly saving. 

And it does work.

Putting money into KiwiSaver means that you don’t really notice that you aren’t getting it the bank.  Every year when we meet with people we work with them to gradually increase how much they are saving to achieve their goals.  It might only be an extra $50.00 a month.  But when they look at the retirement savings analysis every few years, they can see the difference that it makes.

As you get closer to retirement, this is the time that you need to be more aware of how much you are spending, and whether that lifestyle is sustainable in retirement.  Where possible, upgrade the vehicles and whiteware, do those touch up’s to the home if you are going to stay there for a long time – but do them out of cashflow.

It is harder when you aren’t going out and earning money to live off, so this is when you really need to be aware of your spending and make some decisions, to make sure that your investments will sustain you through retirement.

Getting your unclaimed Australian Super back to NZ

For a number of years, you have been able to bring your Australian Super back to New Zealand IF you are retired and past the age to access the super OR if you put it into your KiwiSaver. The processRead more

Elder Abuse - help your family hold on to their money

A recent Stuff article reminded us about how invasive and destroying elder abuse can be.  Read more here about the 92 year old who was 'cleaned out' of $500,000 - ‘She cleaned him out’: FamilyRead more

The Great Wall of Trees

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Welcoming a new team member - Grace

Grace joined Moneyworks as our Administration Manager in 2021 and works part-time.  While Millie Moneybot (our robot) does most of the routine administration, there are still a number of things thatRead more

Sustainable Investing - Climate Change and human activity and how investing can help slow down change

At Moneyworks we use the shorthand terminology 'Ethical Investing' to cover a range of investing styles that can also be referred to as 'Sustainable', 'Responsible', 'ESG (Environmental, Social,Read more

​ Banks being held responsible for fees, conduct and lending practices

Our banks are an integral part of our lives and pretty much hold us hostage with their fees and decisions, unless we choose to be part of the barter economy, or become self sufficient, we will alwaysRead more

How to retire - well, how to get ready to change your life

Our byline on our logo is 'Helping you get to and through retirement - ethically'. Yes, this is mainly about making sure that you have enough money to enable you to retire, and that if somethingRead more

Should New Zealand Superannuation continue to exist as it is?

Moneyworks was established in 1997, which was the same year that the referendum on compulsory superannuation was held as a result of Winston Peters negotiations to form a Government.  ThisRead more

Should adult children be able to challenge their parents wills?

You will have seen the headlines in the media about families at war over their parent’s wills.  The arguments of the Green familyRead more

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 isRead more

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 yourRead more

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 socialRead more
 

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