Kiwisaver - Are You Joining?

[Bling]

you make a good point, with inflation on the up all the time...

Any money you put in now, is going to be worth the most right now, not 45 years down the track. Running with this theory I reckon i'd be better off just living it up while I can, investing in other ways, property etc, but then who knows what will happen with property in the future.....

confuses me beyond caring, so at this stage I will be keeping my money in my pocket.

[~SlideWays~]

I work for one of the main suppliers of Kiwisaver and Im not even going to sign up just yet!

Would prefer to spend it on the mortgage and the car atm...

[B ROWDY]

i'll make more on personal investments and have access to money when i need it instead of having it tied in and a large part inaccessible till 65.

and thats the attraction for me...... if i can get into it.... i will!
*sees new flash racecar bits*
"ohhhhh shiney!!"
*spend*

fast forward 30 years.....
living in the gutter!

Its ok Big W, Ill be in the gutter next to you more than likely

[Adydas]

I prefer to invest my own money myself. I don't want to have it locked up till' I'm 65.

I agree ill have had a heart attack, struggled to find money to fix my health then had another one and died, allowing the govt ill bet to take it all.

[Mr Revhead]

the gov doesnt get it, your estate does

[Alex B]

I prefer to invest my own money myself. I don't want to have it locked up till' I'm 65.

I agree ill have had a heart attack, struggled to find money to fix my health then had another one and died, allowing the govt ill bet to take it all.

If you have serious heath issues you can get the $.

[IH8TEC]

go the Defence Force scheme i for one wont be joining kiwisaver

[Carpet Burn]

My work already has one, but im not in that either at the mo, its a goodie tho so will go in eventually, dont have the spare cash with my evil mortage. It works out for me and the fella $240 a fortnight into Kiwisaver fark thats alot of bills etc that would not be payed!!

[Defective]

It works out for me and the fella $240 a fortnight into Kiwisaver fark thats alot of bills etc that would not be payed!!

if you would be paying that much into kiwisaver you must be on a massive income.... you only have to put in 4%of your gross income...

mines only $30 a week....

[Carpet Burn]

Fcuked that up sorry!! $120 a fortnight!!

BUT its still lots grrrrrrrrrrrrrrr

[Nat]

I am going to go with it only cause I prob wont be able to save that well before Im 65

If you have a mortgage you can set up Kiwisaver so that your contributing 4% but its split so 2% will go to your mortgage & 2% to kiwisaver which is quite good.

And one real good thing about it is that because its taken out before your tax you will end up paying less tax, which sounds good to me

[Mr Revhead]

And one real good thing about it is that because its taken out before your tax you will end up paying less tax, which sounds good to me

is that one of the new things?

in our little thing tower put on for us we were told you pay the tax when you get paid, ie you get paid, tax is paid, then the kiwisaver bit comes out

[Carpet Burn]

My head hurts im confused!!!

[Nat]

Im not sure if its a new thing but we were advised last week that the Kiwisaver payment is taken out before you get taxed, I mean they may still tax the kiwisaver payment Im not sure but they basically told us that we would end up paying less tax - but who knows we are one of suppliers of kiwisaver & we have sooo little information

[Voyeur]

Kiwi saver could be a good thing. The only problem i have with it. is that it is a government initiated scheme, but the funds are not Government secured. I.E if the company, that the funds are invested in goes under, say good bye to your money.
I personally put $25 per week into bonus bonds ($1300 per year) I have done this for 10 years. I currently have $13000 in bonus bonds, and $9000 in bonus's. I plan on doing this for another 40 years. If i continue at this rate i should have, $110.000, and for every $25 spent i have the chance to win 1 millon dollars. This sounds better to me than kiwi saver

[Carpet Burn]

Your bonus bonds sounds pretty good actually, i have a savings account i opened with $3500, i only put in $20 a month but also get interest, its good as its there in extreme emergency, haven't touched it yet and its nearly been a year which is good for me!

The money not being guarantee with the government is something that worries me.

[Mr Revhead]

The money not being guarantee with the government is something that worries me.

again... we were told otherwise by tower....

[Voyeur]

No the goverment wipes it's hands at the inland revenue department.
The money goes, from your employer, to the inland revenue, the government adds it's bit, and the inland revenue hands it to YOUR nominated investment company. Last time i looked TOWER is not goverment secured. If the goverment were to retain the funds, and invest it itself instead of giving you the option of which company, then the funds would be "secured" My advice, if you go through with kiwi saver, is to choose a AAA++ investment company along the lines of "ING"

[Alex B]

The money not being guarantee with the government is something that worries me.

again... we were told otherwise by tower....

Its not, if ING etc go belly up, say good bye to your precious goat buying funds.

[Bling]

so would it be best to buy a plot of land, a few "randy" goats of each gender.... and wait for your investment to "grow" ?

after reading this thread i'm even more confused, I like the bonus bonds idea tho.