Planning
After 65

Reaping the rewards of the hard work

Age 65 has traditionally been when people aim to finish work.  However, from our experience, a number of our clients wish to continue working, to get the mental stimulation and experience of the community at work.  Other people are chafing at the bit to end work, or to change how they work.

This is the time when you reap the rewards of the hard work of repaying your mortgage (if you have chosen to be a home owner), and of contributing to your KiwiSaver and building up an investment portfolio.

However, it can be a scary time, as you transition from having a regular income to living off those investments.  This is also the time where your money has to continue working for you, so that the purchasing power of your money keeps up with inflation and lasts as long as possible.

The change of mind-set is often difficult, and working out how to set up your income and drawings (on top of NZ Superannuation) takes time.  Moneyworks helps our clients with the technical calculations as well as adjusting to the change of mind-set. 

A core part of the work that we do with our clients is working out how long their money will last, based on their anticipated spending.  This may mean that some clients need to work a little longer to fund that future income and save a little more, but making sure that your money is well invested is crucial.

If you have surplus funds after you have retired, it may be time to think about gifting small amounts to your family on a regular basis to help them out.  After all, you could live to be over 95 - and how old will your children be then? 65? 75? - retired themselves.

Find out more about all the things that you need to consider by scrolling down the page and clicking on the different boxes.

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 buildingRead more

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 onRead more

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 toRead more

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 ofRead more

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.Read more

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 hasRead more

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 keyRead more

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 theRead more

Renting a vehicle and insurance issues

Read more

Permanent or Temporary Loss of your Capital

Read more

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. TheseRead more

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 ourRead more

Richard Murcott - Wellington

I have worked with Carey and Moneyworks for many years now. I value very highly the trusted financial advice Carey provides. It is always timely, tuned for my circumstances and profile, and educational. I very much appreciate this relationship, and this includes the learning founded on rock solid, consistently sound guidance.

In particular, I value the fact that she is there for me to talk to if a need arises, I have a strong sense of partnership, like having an invisible highly-trusted adviser sitting on my shoulder. I also know that she will take the initiative to advise or alert me if or when something needs to be changed or adjusted. The proactive advice and guidance is so reassuring.

That leads to peace of mind from knowing someone is there who clearly cares about my financial health and strategies.

John and Ngaire Durnford - Wellington

When we first started working with Peter about 17 years ago, we had an expectation that once we engaged you (or any other financial adviser), you would just invest for us as per our initial goals and there would be nil or very little ongoing or frequent communication with us. Also that you wouldn't be advising on insurances, private superannuation, EPA's, on-line security, etc.

The favourite feature of Moneyworks service that we look forward to and most value is the annual review meeting and how it is conducted.  The single biggest benefit from Peter and Moneyworks is their complete wrap-around financial and general all-life advice services (like a one-stop-shop for a secure lifestyle).

Eileen Barrett-Whitehead and John Whitehead – Wellington

We have been working with Carey for over ten years now and the favourite part of her service is the annual review.  The discussion makes us think and plan rather than drift.  We value the investment management that comes as part of the service.

When we first started working with Carey we had a general wariness that a financial adviser would be trying to sell a particular financial product or service and this hasn’t happened with Carey.

 

This product has been added to your cart

CHECKOUT