Now’s a good time to review your KiwiSaver – Easy Financial Services Limited

Now’s a good time to review your KiwiSaver

Every year around this time, Kiwisaver members would receive an annual statement from their fund managers. This provides a summary of what’s happened in your KiwiSaver account for the year to 31 March. Taking some time to review and understand your annual statement is a great way to see if you’re on track for the kind of retirement you want, or if you need to make changes now to secure a better financial future. The aim is to help you get a better understanding of how much money you could have in your KiwiSaver account when you turn 65, and the weekly income in retirement this amount would provide.

Choosing the right fund will help you reach your goals. The difference in returns between a conservative fund and a growth fund over a lifetime can be hundreds of thousands of dollars. Things change in life so it’s important to regularly check that you are in the right fund based on your appetite for risk and investment timeframe.
Look forward to more at retirement, by increasing your contributions now. Once you have made the right fund choice, the next best way to grow your KiwiSaver account is to increase your contribution rate. The difference between 3%, 4%, 6%, 8% or 10% may seem small, but thanks to compounding returns overtime these extra contributions can really add up! If you can afford it, you should consider increasing your contributions.
Make sure you qualify for the $521.43 Government contribution every year If you’re eligible. The Government will contribute 50 cents for every dollar you contribute to your KiwiSaver account, up to a maximum of $521.43 each year. If you can afford to contribute enough to get your Government contribution it is well worth it. If you are not working, you can still qualify for the Government contribution – consider setting up a direct debit so you don’t miss out on this generous benefit next year. You’ll need to contribute at least $1,042.86 before the end of June 2025 to get the maximum amount.

Why to join Generate KiwiSaver?

The Generate Focused Growth Fund ranked 1st out of 8 NZ Multi-Sector Aggressive Category Funds for 10-year results to 31 March 2024 boasting an impressive 10.5% annualised return.
This is the highest return for any multi-sector KiwiSaver fund in the Morningstar Aggressive, Growth, Balanced, Moderate, or Conservative categories for 10-year returns over this period.
The Generate Growth Fund ranked 2nd out of 14 NZ Multi-Sector Growth Category Funds for 10-year results to 31 March 2024 with a 9.6% p.a. return.
The Generate Moderate Fund ranked 1st out of 12 NZ Multi-Sector Moderate Category Funds for 10-year results to 31 March 2024 with a 6.0% p.a. return.

Generate KiwiSaver Online Application

Some tips for your consideration:

Past performance is not necessarily an indicator of future performance and returns over different periods may differ
Growth funds will always outperform defensive funds in a long term;
The longer term you have until retirement, the more growth funds you can hold;
Seek financial advice where you think it might be helpful.
Adviser Disclosure Statement can be read here.

Please be noted that the above is a general guide only and not financial advice, nor financial advice service.

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Easy Financial Services Limited -Auckland, New Zealand
www.ezymortgages.co.nz -patwang88@hotmail.com

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