Twenty thousand, eight hundred and forty-five dollars. That’s the new figure this year for NZ Super. That’s $400.87 per week. That’s
Converting retirement savings to income is being called “decumulation”, but the word hasn’t quite arrived yet; there are no matches on Oxford online, for instance. When it comes to spending the retirement fund, perhaps it could have been “draw-down” or “decrease” – but hopefully not “dispose” or “destroy”!
How many of us intend to keep on working after the age of 65? It may be more than you think. Building up retirement savings gives us the option to keep working, but only if we want to. It allows us to go out on our own terms… boots on or not!
Living longer affects our planning for the days when we’ll leave our working lives behind. How long a retirement should we be planning for? Will we outlive our money? It’s a moveable feast, but let’s take a stab at it.
Batman. Superman. Barbie. Ken. They’re forever young … but what if they weren’t? Imagine an alternate universe, where superheroes get old and weary. Explore the interactive video package and see how the crew cope with ageing, affording retirement and the question of who gets – and pays – for what.
In life there is fast money, then there is slow. Paying the bills, clearing the credit card, deciding to take a mini-break over the weekend – those are all fast money decisions. They’re all the quick choices we make about what we spend.
If you’ve never had the pleasure – and the privilege – of meeting someone who’s lived more than 100 years, it’s quite something. Meeting someone who is 100 years old can help you to see your future self. It’s much easier to imagine, and you can also fill out the picture by calculating your own life expectancy.
The cool thing about Christmas is that it comes around again, with a new opportunity to get better at it every year. Next Xmas, why not give a gift to your future self? The present can be a lump sum in KiwiSaver or another managed fund, or even a gift of paying off debt you’re carrying, which also puts you in a better place for Christmas into the future.
Jens Meder stopped working over 20 years ago and says he’s been loving retirement ever since. He lives in his Point Chevalier home on $370 a week from NZ Super and $551 from other sources.
Peter Cordtz was only five years old when his father died in a car accident. Having life insurance was a decision made that led to Peter and his family having some security for their future.
This link will allow you to find a retirement village close to where you want to live. Many retirement villages have care facilities located on their sites which might include rest home level care, hospital level care or dementia level care.
How do we turn our life’s savings into a steady income? How much money should we use at a time? Will we run out? Where should we keep our funds over such a long period? It takes some forward thinking and savvy decisions in order to make that money last for what can be 30 years or more in retirement.
Equipping young people for their financial future, embedding good money habits early on.
Hāpaitia te ara tika, pūmau ai te rangatiratanga mo ngā uri whakatipu.
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