Planning for your retirement

rsz_rsz_kaumatuaAs always there’s lots of information around about what you should do to prepare financially for your retirement.  Much of it seems contradictory or varies wildly in the guidance provided so it’s sometimes hard to know what to do.  As always Sorted is a good place to start with lots of information about all aspects of retirement.

Meanwhile as raising the retirement age continues to be debated, saving for retirement is as important as ever.  Martin Hawes also chips in on this topic in relation to increasing life expectancy.

If you like calculators Mercer have recently released an interesting one. Mercer’s KiwiSaver Retirement Income Simulator is an interactive online tool that allows you to estimate how much you may have in retirement, so you can start planning for the future now. What makes the simulator interesting is the ability to include details of your partner’s finances, planned career breaks, details of other investments, voluntary contributions you may wish to make and much more. It’s a useful way of seeing how adding in different life circumstances could change your retirement income.  Of course no retirement planning would be complete without consideration of how your Whai Rawa money might grow so make sure you try out the Whai Rawa calculator.