Re: Kiwisaver; Is Your Money Growing?

Postby Tama on Wed 10/Jun/09 9:17am

ThingOne wrote:
Tama wrote:Funny, you should bring this up - out of curiousity I tried to log into my Kiwisaver (Mercer/ Kiwibank) the other day to check how things were doing and got bored/ gave up before I could get access to my details.

Should probably try a bit harder.


Investor apathy, Investment companies love clients like that.

I can't say I think of Kiwisaver as an investment. I use a PIE account which I watch with a great deal of interest (I wish it got a great deal of interest :huh: )

Kiwisaver is a long term thing and I'm in it for the tax credits and actually having some money for my old age when the baby boomers have sucked our coffers dry.
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Re: Kiwisaver; Is Your Money Growing?

Postby Trail on Wed 10/Jun/09 9:22am

Tama wrote:
ThingOne wrote:
Tama wrote:Funny, you should bring this up - out of curiousity I tried to log into my Kiwisaver (Mercer/ Kiwibank) the other day to check how things were doing and got bored/ gave up before I could get access to my details.

Should probably try a bit harder.


Investor apathy, Investment companies love clients like that.

I can't say I think of Kiwisaver as an investment. I use a PIE account which I watch with a great deal of interest (I wish it got a great deal of interest :huh: )

Kiwisaver is a long term thing and I'm in it for the tax credits and actually having some money for my old age when the baby boomers have sucked our coffers dry.


Yep, me too. Probably worth sticking it into a fund with low fees and good performance tho huh :eh:

Easy to change providers...
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Re: Kiwisaver; Is Your Money Growing?

Postby bugle on Wed 10/Jun/09 9:27am

Trail wrote:
bugle wrote:Cant recall what fund I ended up in (one of the big insurance company offerings from memory) but I certainly have no complaint about the amount of $ when I sighted the last statement

Aus superanuation thats been locked away for Kiwi's till now is available for transfer to NZ in October


Transfer as in cash in hand, or transfer to nominated Kiwi saver fund?? Just curious. I have a year or 2 worth of funds sitting there and it would be nice to have it over here.



Cash in hand would be nice but life is not like that... I'm just gonna roll it to my kiwisaver then rip the whole lot out and by a whare I think
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Re: Kiwisaver; Is Your Money Growing?

Postby phunk on Wed 10/Jun/09 10:14am

My fund lost a grand over the last year, super.
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Re: Kiwisaver; Is Your Money Growing?

Postby JumpR on Wed 10/Jun/09 10:25am

I haven't joined kiwisaver yet, want to pay off my student loan first.. But all will be okay, there is a banner at the top of this page announcing I have $65467 in my forex account and I can make more money by just clicking.. :D
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Re: Kiwisaver; Is Your Money Growing?

Postby happybaboon on Wed 10/Jun/09 11:06am

Haha, owned. A year ago I spent a load on a big telly and a PS3. Sure, those toys have depreciated since then... But those monkeys who "invested" their money in kiwisaver and ended up losing 40% of it (...so far) don't get to play GTA4 or Littlebigplanet on their investments :)
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Re: Kiwisaver; Is Your Money Growing?

Postby Wobbler on Wed 10/Jun/09 11:13am

There was some chode up with the IRD so my money never got transferred out of there untill the last couple of months, pretty please as it means I didnt lose as much :D

I have mine with my bank, because I'm epic lazy and I can check the balance online with my banking. Dropped my contribution to 2% this year to give myself a payrise :)
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Re: Kiwisaver; Is Your Money Growing?

Postby phunk on Wed 10/Jun/09 11:22am

happybaboon wrote:Haha, owned. A year ago I spent a load on a big telly and a PS3. Sure, those toys have depreciated since then... But those monkeys who "invested" their money in kiwisaver and ended up losing 40% of it (...so far) don't get to play GTA4 or Littlebigplanet on their investments :)


I have lost less than the govt contribution so am no worse off, then there are the tax advantages etc. Notwithstanding the fact that retirement savings are a long term investment.

But good on you for being a good little consumerist.
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Re: Kiwisaver; Is Your Money Growing?

Postby bigJIMMY on Wed 10/Jun/09 12:06pm

that's a bollix way of looking at it. any lost money through the funds to me is disgusting. The problem with kiwisaver is no one is there to hold people accountable to their major fuckups. And the general publics veiw is that they put a percentage of their wages away each week and it grows to a healthy sum that they can one day cash in.
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Re: Kiwisaver; Is Your Money Growing?

Postby phunk on Wed 10/Jun/09 12:11pm

Im not saying that Kiwisaver is a good idea, I only opted in for the generous govt benefits.

Any investment is able to lose value though.
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Re: Kiwisaver; Is Your Money Growing?

Postby Trail on Wed 10/Jun/09 12:16pm

bigJIMMY wrote:that's a bollix way of looking at it. any lost money through the funds to me is disgusting. The problem with kiwisaver is no one is there to hold people accountable to their major fuckups. And the general publics veiw is that they put a percentage of their wages away each week and it grows to a healthy sum that they can one day cash in.


What is worse is that when the funds lose money, the fund managers still take their fees etc off as well... and that goes on top of that negative percent they show you as their end of year balance!!

So you are paying some guy to lose your money?? :blink:
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Re: Kiwisaver; Is Your Money Growing?

Postby phunk on Wed 10/Jun/09 12:21pm

Thats why I dropped my contributions to the minimum and will use the extra money to invest in paying back the mortgage on the house faster, a much better investment.
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Re: Kiwisaver; Is Your Money Growing?

Postby Trail on Wed 10/Jun/09 12:32pm

phunk wrote:Thats why I dropped my contributions to the minimum and will use the extra money to invest in paying back the mortgage on the house faster, a much better investment.


Unless the bottom drops out of the housing market. I see that as a smart move tho, get the tax, bonuses and company contributions and yet still use some of your money to pay off the mortgage.

I am pissed they have taken out the kiwisaver diversion to mortgage thing. I asked about getting it done with my bank but never got anywhere because no one there knew anything about the whole scheme, and now I find they have pulled the plug on it, so it is too late to apply now.
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Re: Kiwisaver; Is Your Money Growing?

Postby hickie on Wed 10/Jun/09 12:55pm

Thanks to you the tax payer mine and my wife's are growing at a very nice rate.

I'm not sure what the kids will do with the free $1000 buck in 50 years time though :o
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Re: Kiwisaver; Is Your Money Growing?

Postby crazychris on Wed 10/Jun/09 1:00pm

remember, if you sign your kids up today for the $1000 gubbermint funds, they will be forever (FOREVER) stuck with kiwisaver, no matter if they want it or not. Thier crappy midnight burger flipping job will be taxed for their retirement from the first dollar they earn. You have made a decision that affects them for the rest oif their lives, with no way for them to extract themselves.
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