NZDF Kiwi Saver

00:02
and there you go it's recording uh so
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the chat is not recorded but it is my
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face uh and the slides and i point this
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one because that's what my other screen
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is with the slides
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um so yeah that's what will be recorded
00:15
and then at some point it will be
00:16
uploaded to your force financial hub and
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then for your own viewing pleasure you
00:20
can watch it
00:22
around
00:23
hey you can make a friday night activity
00:24
just watch them all back to back just
00:26
like you're binging on financial
00:29
education
00:31
i live in hope i think mark lives in
00:33
hope too everyone would binge series and
00:37
sort of but uh yes anyway uh
00:40
tired of dad jokes i ran through some
00:42
dad jokes right the beginning and uh
00:43
yeah i don't think they're having any
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laughter coming back now here we are at
00:46
the karakia section who would like to
00:48
take us through it i'm hopeful
00:51
just put your little hand up and i'll um
00:53
i'll
00:57
no unlock
00:58
all right try again i've got last
01:00
session of two so i'm hopeful that
01:01
someone might want to do it so i'll take
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us through
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ah asriel awesome here we go
01:07
i will allow you to talk
01:10
and you just need to unmute yourself
01:12
hey
01:17
my name is teohe um i'm israel's wife
01:20
but hey i just wanted to
01:22
acknowledge you dennis um and giving um
01:26
te reo maori a go because it's actually
01:28
maori language week so starting our
01:30
session with the karakia is um really
01:32
lovely to see as we go into that uh
01:53
properly i i do try my hardest but um
01:56
no it's great dennis sorry i just have a
01:58
i have a newborn daughter um and so
02:01
she's
02:02
uh clinging to me at the moment so i
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will go back from you um like i told
02:06
dennis thank you for acknowledging and
02:08
the mighty language as well
02:10
no problems thank you so much and i love
02:12
it when other people can take us through
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it
02:15
just my old voice
02:17
rambling on so thank you and um just as
02:20
a special mention you would have heard
02:21
in there to other
02:22
order
02:23
the time commission so that's our new
02:25
name it used to be called cffc
02:28
quite thankful we got rid of that
02:29
because it's just a completely boring
02:32
name
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but we do run the sorted website so
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we're a government organization as i
02:36
mentioned i facilitate for them that's
02:38
what i do
02:40
and sorted provides you with free
02:43
independent and importantly impartial
02:45
information so what that means for you
02:46
is it's not going to give you a
02:47
recommendation on a particular thing for
02:49
a particular product that you need
02:51
it's just going to empower you to make
02:54
your own uh great financial decisions
02:56
and the really cool thing is it's got a
02:58
whole bunch of tools that will are free
03:00
and will forever be free they've always
03:02
been improved
03:03
and you can round that out with some of
03:05
the guides and blogs that you can read
03:07
through as well and the perfect
03:09
compliment to that
03:11
is mark's baby called force financial
03:13
hub
03:14
which i'll show you guys as well on gals
03:17
spring uh but if you don't know about it
03:19
now
03:20
definitely have a look through because
03:22
there are some great benefits to you as
03:24
employees
03:25
whether that be navy air force farming
03:28
those important benefits are there for
03:30
all which is brilliant
03:32
um all right so what's coming up today
03:35
four things uh now we ran this last week
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we ran a bit short of time and it was
03:40
quite a bit of focus around you know
03:42
investor type my fun type and we're
03:45
going to spend a bit of more time around
03:46
there and try and cut back some of the
03:49
other areas
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just so that you can actually get your
03:52
questions out but do keep all the
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questions coming and at the end mark
03:56
will say something as well but
03:58
we'll stick around for a little bit
04:00
because we just want to make sure that
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everyone's questions get answered and
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the beauty is is mark
04:05
absolutely knows everything about the
04:07
benefits of nzdf um
04:10
which is great and if you haven't met
04:11
mark before you can see him on one of
04:12
the videos on the force financial hub
04:14
sitting in his helicopter
04:17
but you didn't think i saw that one hey
04:18
mark um so yes definitely make use of it
04:21
so visualizing retirement so it
04:23
the reason why we talk about this it can
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be very hard to actually think uh
04:28
retirement you know i'm 21 years old
04:31
that's 40 odd years away why
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am i going to worry about it now so just
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trying to get you to think about what
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you might want to look like because it's
04:39
quite important and then a little quick
04:41
exercise about bringing that future date
04:43
forward
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uh specifically around how many paydays
04:47
you've got so instead of making it sound
04:50
like 40 years
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uh you've only got while 26 times four
04:55
what's that 24 6 46
04:58
you know something like that over 600
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odd paydays and that's
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where it's starting to sound a lot
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closer so we're actually trying to get
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you to think about it make it a bit more
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urgent um having a look at the kiwisaver
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calculator unsorted so if you've never
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done it before it's awesome exercise to
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actually work out what your pot of money
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might be worth
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then also looking at how much you might
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need so looking at a study which i'll
05:23
give you the link to so you can pour
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over in your leisure um just what you
05:27
might need in retirement because that's
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another factor we may not have
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considered how much we want uh yeah we
05:33
might want a trip but how much is it
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going to cost to live
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and those sorts of things so just giving
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some ideas about that
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and then last but not least really
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what's the plan how can we
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you know figure out where we're getting
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to what we actually want is there a gap
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to a bit of a gap analysis as we call it
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and what changes do i need to make here
05:53
to just make that the easiest possible
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journey
05:56
so
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yeah here we go so like i said right
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eyes keep an eye on chat so keep the
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questions coming through
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if you want to send it just to me i'll
06:05
open the question up to mark as well but
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i just won't mention your name so just
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to give it a little bit anonymous
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so let's have a quick watch of this now
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this is a
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visualization exercise um i could take
06:16
you through one but
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it's much nicer in the video to do it so
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just have a listen close your eyes
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listen and see what i mean i'll ask you
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about it afterwards here we go
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[Music]
06:34
your eyes
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visualize no longer having to work all
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day
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you can do whatever you want
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what are some of the things you'll be
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doing
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and how does it feel
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write down three goals or activities you
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want to be have or do in your retirement
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over the next few activities we will
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build towards understanding our current
07:00
situation understanding what we may need
07:02
in retirement and putting a plan in
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place to get there
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that's the video with the longest outro
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music possible
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yes if you've ever done meditation
07:16
visualization exercises before 40
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seconds it's probably not really long
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enough um but question for you all
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what do you want to do in retirement
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what do you want what um you know three
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things you want to be have or do in
07:30
retirement so i know retirement's
07:32
probably a
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big ugly word because
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it's i've noticed there's a transition
07:37
from you know retirement because it used
07:39
to be at 65 family get retired that was
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my parents generation now it's more
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about having the opportunity or the
07:46
choice to do things
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to if you want to keep on working so be
07:51
it or if you want to
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finish up work leave on a high and then
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volunteer you know those sorts of things
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so what are some things that you are
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looking forward to in the future
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when you step away from work and have
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that choice to be able to do things you
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want to hit me up come on let's see what
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we can get
08:09
it is
08:11
nine past ten i'm sure i'm sure
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everyone's awake
08:16
oh wait a patient
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three
08:19
two
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one oh look at that came through
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straight away uh jared jared you don't
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happen to be in the navy by any chance
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to sailing that's awesome if you are
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then you're in the right place so um
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shirley's hit us up with uh
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oh hang on let's get mark sorry mark
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travel and socialise brilliant love it
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at a cafe in italy you know something
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like that that sounds pretty good to me
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uh shirley set us up with walking
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tramping
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great on you shirley that's awesome
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oh jared's not in the navy
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all right um
08:52
travel around australian motorhome yes
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i've heard a few people do that and it's
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such a great thing to do
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um you don't realize how fast australia
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is until you actually literally start
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driving it and my god it's massive
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uh be healthy have fun enjoy company in
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my life oh
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how awesome is that
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um
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that's like brownie points so yeah
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um
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oh yeah that is something to look
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forward to no emails
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definitely definitely
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uh vanessa volunteering with someone oh
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with some awesome not with someone sorry
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phoenicia uh with some awesome places
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around our country
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um and then last but not least man house
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paid off play golf oh no no
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hey muzz you're a new entrance i don't
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think i've come across your name i'd
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remember
09:39
mars is very memorable
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travel fishing gardening boat building
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part-time work awesome awesome awesome
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awesome
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and eggy
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tramping motorcycle trips reno's
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volunteer work with kids part-time work
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or i will go nuts yes exactly right you
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want to be involved and part of
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society at large really isn't it giving
10:01
back or being involved or you know
10:04
lending your expertise
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yeah brilliant
10:07
thanks everyone i think i've pinched
10:09
some ideas
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right so let's watch a
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cute little video of a lovely old lady
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talking about
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her retirement some of the things she
10:18
hadn't expected um and some of the
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things that um
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she's obviously enjoying but then also
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really importantly just
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just see if you pick up on what they did
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to get to where they are in retirement
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and b hit us up with spending all time
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grandchildren and volunteer work love it
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be awesome all right here we go
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my tuesdays are yakking days
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yeah skype my sister
10:52
every tuesday afternoon in dunedin
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and my sister-in-law in london
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in every tuesday morning
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we swap stories and that sort of thing
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and
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when you're talking to her you don't
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realize she's 13 000 miles away i mean
11:12
years ago we could never
11:14
visualize
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sort of having a phone that you people
11:19
can see you and that's virtually what
11:20
skyping is
11:22
when you're 80 you don't know whether
11:23
you've got five minutes or five years so
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time is of the essence really we'd
11:31
save to travel and then
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do that come back save a bit more we
11:35
went without a lot if you couldn't pay
11:38
for it you didn't have it that was
11:41
you know the philosophy then i don't
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think i'd be where i am now
11:45
if we just willy-nilly bought things
11:47
that we wanted
11:49
at 20 and 30 you don't really think
11:51
about retiring because it's never going
11:53
to happen to you
11:54
you know you don't realize that one day
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you're going to wake up and you're going
11:57
to be 80.
11:59
[Music]
12:04
i'll just stop that there because the
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outro music is quite a long one as well
12:08
and really not not to freak you all out
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um you know i didn't realize that i'd go
12:13
to sleep and wake up and i'm painting
12:15
you know which is kind of freaky when
12:16
you think about it you know the years do
12:18
truck on quite easily
12:20
it wasn't so long ago that
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you know i didn't have any gray hair
12:25
and now at the tinder age of 48
12:28
um
12:29
uh you know i'm starting my body's
12:31
feeling like it's getting older because
12:32
i'm starting to slow down a little bit
12:33
i'm still trying to play sport once or
12:35
once a week level four fours stopping
12:37
that
12:38
um so yeah you do notice these things
12:41
but you know if i think back to when i
12:43
was 18
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did i worry about what i was going to be
12:46
doing or want to do at 65 no not a thing
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and admittedly as well we didn't have
12:51
kids over which makes that
12:54
planning a little bit easier because you
12:56
do get enrolled
12:58
um
13:00
is there anyone that's with us today
13:01
that's not in kiwisaver
13:04
um and great point mark uh telling me
13:07
about it i'm now 62 and chris 21
13:10
years just fly by uh they definitely do
13:14
and
13:14
if if you're sick of hearing it from us
13:16
old people
13:17
um you know live life while you can
13:20
enjoy it but also what we're trying to
13:22
instill now is a little bit of just
13:24
finding that balance and you'll notice
13:26
that you know she talked about tuesday
13:27
being yakking day she never had skype
13:29
but it allows her to talk to her sister
13:31
in england
13:32
um at the drop of a hat um so you know
13:35
that's taken down the red
13:39
the
13:40
the need to travel which makes it a bit
13:42
easier but it also has given a new
13:44
opportunity so
13:46
um these are the things we need to worry
13:47
about when we're actually looking into
13:49
the future
13:51
to try and find that balance and as a
13:53
screen assessor future me thinks
13:55
currently and it can be quite useful to
13:57
think about ourselves as an older person
14:00
um
14:01
okay so oh we had a couple of people
14:04
say they're not in cuba saver so um
14:06
ah
14:07
that's
14:09
could be the answer why because if
14:10
you're not in kiwisaver can i ask that
14:13
are you in the cat a super scheme which
14:16
is the nz dear cat a super scheme so
14:18
depending on your enrollment ah there we
14:21
go
14:22
cool
14:23
so just in case well most of you may
14:26
know about it but just in case that is a
14:28
scheme that was replaced by kiwisaver
14:30
for at a particular date
14:33
but for those members that were in it
14:36
um
14:37
they were in that super scheme which you
14:38
know you get a
14:40
understand you get a choice of the two
14:42
and the cat um
14:44
it's a oh whoa whoa
14:47
the mouse went the wrong way there ah
14:49
geez hang on
14:51
now we've lost it i don't want to watch
14:53
the web video
14:54
um you've got a choice of kiwisaver or
14:57
the nzdf super scheme but i think that's
15:00
actually um from what i hear a little
15:03
bit oh thanks mark there you go dfs s
15:05
closed off in 2015.
15:08
um so either way if you're in either
15:10
scheme the key is is that you're
15:11
building something for your future which
15:13
is brilliant
15:14
um so here we go so this is the exercise
15:17
and trying to bring
15:19
um
15:20
i can belong to both awesome that's
15:22
really cool
15:23
and it's sort of a
15:25
what you want to do talking to the right
15:27
people at nzdf and potentially your
15:29
financial advisor as well is just
15:31
finding that right mixture
15:33
um because i'm guessing the dff
15:36
ff
15:38
um scheme or that superannuation scheme
15:40
is available at a earlier age then
15:42
perhaps kidney saver is which can make
15:45
it quite advantageous
15:47
so yeah tell me from wrong back i think
15:49
that's that's correct um right so what
15:52
you've got on screen is a quick exercise
15:55
and bringing forward that long-term sort
15:58
of picture
15:59
um so we're just going to assume 65 or
16:02
the age that you want to have that
16:04
choice to retire or do other things to
16:06
leave work basically
16:08
so take that subtract your age
16:11
and then everyone's paid fortnightly so
16:13
multiply that
16:15
um by 26.
16:18
uh mark here's a question for you
16:20
is ss the same as new zealand retirement
16:23
trust
16:25
all right
16:27
what i'm going to do click here is just
16:28
show you how it works through mark's hit
16:30
us up with 234 already
16:35
oh okay so
16:36
to the person that asked about death
16:39
it's the same as new zealand time and
16:40
trust marx just popped it on there no
16:42
that is the s
16:44
yes yes
16:45
don't we love our acronyms
16:48
um so the person who asked that
16:49
hopefully that's answered the question
16:51
um so you can see here 65
16:53
minus the age of 40 times 26 means i've
16:56
got 650 paydays so if i can get you to
16:59
just work it through and chuck into the
17:01
chat
17:02
how much uh how many paydays you've got
17:04
uh iggy's hit us up with 182 pays until
17:07
65.
17:09
104.
17:10
um
17:11
getting there i think i think last week
17:13
i had um
17:15
alice's uh hit us for 234 awesome surely
17:18
103. last week we had someone with i
17:21
don't know
17:22
five pays or something around which is
17:23
very close oh this one's taking record
17:26
78 pays
17:29
oh man someone just hit the new record 8
17:31
16 oh no
17:33
uh ezreal uh 962
17:37
pays cowardly
17:39
i'd love to have 962 pays to the timer
17:41
they'll be also 130 182. so
17:45
as you worked it out and our polls not
17:47
working again oh 104
17:50
it's not long buzz
17:52
second getting closer
17:53
oh this person's taking the record a
17:55
thousand and fourteen
17:58
man can we swap you can have my 17 times
18:02
26 and i'll give you a thousand and
18:04
fourteen to a retirement
18:06
oh no someone just put that person at
18:09
one one nine six look i'm happy with a
18:12
thousand fourteen um so
18:14
can i ask and normally run it there's a
18:16
poll but the polls aren't working
18:18
and maybe just chuck it on the chat
18:20
thing how does it make you feel um
18:24
comfortable surprised not bothered
18:26
concerned or stressed just hit with a b
18:29
c d or e
18:30
and moses is looking forward to it on
18:32
your nose command
18:34
um
18:39
oh there we go here we go we've got some
18:40
levers coming through just waiting for
18:41
them to see
19:11
this is quite happy this morning um so
19:14
some quick questions for you all here
19:16
um
19:18
my internet connection is unstable
19:20
apparently so
19:21
let me know if you've got any problems
19:23
but it seems to be okay to know
19:25
how much is new zealand super
19:27
for a single living alone so just hit us
19:30
up on the
19:32
chat
19:34
with
19:35
uh the letter a 358 b
19:38
437c 525 or d611
19:43
okay we've got some
19:45
b's and a's
19:47
b's and a's
19:50
so
19:51
all right put a hand up there you go
19:52
i've unmuted you and you can just
19:55
unmute yourself you can chat away
19:59
i'm hoping you put your hand up to chat
20:00
listen
20:02
um these names still
20:08
hey there you are
20:10
hello
20:14
let's are you there
20:16
yeah sorry if i didn't mean to um
20:19
oh you didn't all right
20:21
okay all right
20:22
that's right i'll pop you back on you no
20:24
worries
20:25
um
20:27
that's a pesky little hand button okay
20:29
a's and b's all right so
20:31
where's my cursor b so it's all of
20:33
unicef b uh 437 per week
20:37
um so it can be quite surprising how
20:39
high our new zealand super is relative
20:42
to
20:43
our earning capacity at the moment and
20:44
in full-time capacity it's probably
20:47
you know not near it but the fact is
20:51
without any other income um new zealand
20:53
super if you compare it around the world
20:55
is not too bad it's pretty good
20:58
and it's very simple as well it's just
21:00
you know 65 you go in and apply for it
21:03
and if you have other income you're
21:05
taxed a little bit differently but
21:06
otherwise you know what you're going to
21:07
get
21:08
but in each year you know there might be
21:10
a little clip up just to keep pace with
21:13
inflation so to speak
21:15
so you know exactly what you're gonna
21:16
get
21:17
so 437 uh let's do our kiwisaver um
21:22
good question is that the same as the
21:24
pension yes uh well we call it new
21:26
zealand superannuation uh you can also
21:29
call it a pension uh but just be wary
21:31
that if you
21:32
have ever been in say another country
21:35
and i'll pick up united kingdom
21:38
and have managed to be there for enough
21:40
time to be eligible for their state
21:42
pension um you can't sort of double dip
21:46
so to speak because there's a an
21:48
arrangement in place and it's with other
21:50
countries too
21:51
that you either pick the new zealand
21:53
superannuation or function or the uk
21:56
superannuation
21:57
but you can't hear both so cool great
21:59
right all right here we go quiz time uh
22:01
a few questions we'll work through this
22:03
real quick people over 18 who start a
22:05
new job will be automatically enrolled
22:07
here we save a or b here we go come on
22:09
hit me up
22:12
so bees hit us up first here we go
22:15
so b wins she got a
22:18
gotta be quick on the draw are we ready
22:20
are we ready for the next question
22:21
because there it comes right employees
22:23
contribute a minimum of three percent of
22:24
employees pay for kingdom city they may
22:26
contribute more a or b
22:29
who's coming up first oh oh that was
22:31
rachel i think with a capital a
22:33
true a yes
22:35
uh happily i have to say
22:38
does anyone know what the defense force
22:40
pays to your kiwisaver
22:46
awesome fee great
22:49
and do you see i'll call you up you
22:50
actually said four as well with a little
22:52
percentage so that's spot on yes four
22:54
percent so it wasn't employed it
22:56
actually pays more than actual minimum
22:58
which is brilliant love it um so
23:02
next question you can choose your own
23:04
keywords overrider a or
23:06
b it is tina awesome
23:11
you can you can choose your own provider
23:14
now another quick question who has
23:16
chosen their own provider for their
23:18
kiwisaver well actually and who hasn't
23:21
so either a yes or no would be great
23:26
okay we've got a no there that's cool
23:31
all right another no okay cool bananas
23:35
now um not having chosen it's not a bad
23:38
thing okay so let's we're not trying to
23:40
single you out so to speak um
23:42
but what i will make special mention of
23:45
is that and it's great that a lot of us
23:48
have chosen our own providers
23:50
um so i'll make a special mention of
23:52
that
23:54
um
23:55
oh so he's coming here i haven't
23:56
bothered as i've got a is it a bad
23:59
decision yeah so i think
24:01
um
24:02
mark to that question um you're you're
24:06
pretty much
24:07
yeah you're stuck with well not stuck
24:09
but you have the supplier so you can't
24:12
change that that would be correct for
24:13
that for the cat a
24:18
or the dfss i should say
24:24
so much response
24:28
oh actually i've unmuted your mark and
24:30
you can
24:33
okay thanks for that dennis um there are
24:35
there are actually choices available to
24:37
the dfss members so you can do what i've
24:40
done which is i've been on to cat c and
24:42
i also contribute to kiwisaver um or you
24:46
can do one or the other
24:48
and we have we have over 300 people now
24:50
who belong to both schemes um if you
24:53
want to talk more about it just send me
24:54
an email benefits at ncdev.net nz and
24:57
i'll come back to you with a bit more
24:58
detail around the choices that are
25:00
available to you
25:01
awesome thanks mark all right
25:03
there we go
25:04
um
25:06
cool now for the people that haven't
25:08
chosen um i'll make a special mention of
25:11
why it's great to actually choose but
25:14
we'll do that when we get to selecting a
25:15
fund
25:16
so what we're going to look at now is
25:18
who here has worked out their rum
25:20
kiwisaver balance before
25:29
oh cool there's a few of us that have
25:31
already said news brilliant
25:33
love it
25:35
um
25:36
ah to the person who just said no then
25:38
you're gonna love this tool i was
25:39
waiting for someone to say no so thank
25:40
you for saying that um all right so
25:43
sorted website i know i harp on about
25:45
this
25:46
uh but here you go here is the address
25:49
um
25:50
until i really multitask over look at
25:52
where i'm copying and where i'm pasting
25:54
it to and typing
25:56
but this is the web address
25:58
and i really encourage you to sign up
26:00
because it's going to save everything so
26:02
please please sign up doesn't mean
26:04
anything to me if you don't but it just
26:05
means that you can save everything you
26:07
put into this
26:09
considering it takes a bit of work to
26:10
put stuff into it you want to be sure
26:12
you don't have to do it every time you
26:13
go into it so um tools
26:16
um and we want to look at the kiwisaver
26:19
calculator and you can see there's quite
26:20
a few here keepers have a fun finder
26:22
beans calc
26:24
we've talked about the investor
26:26
kickstarter i think but we're going to
26:28
talk about that a little bit more as
26:29
well
26:30
and then we're also going to talk about
26:32
smart investor which is
26:34
in this afternoon's one
26:37
so here we go uh keep yourself up
26:39
so this has just been redesigned
26:42
uh very recently
26:44
to make it look snazzy
26:47
um but you'll notice when you first go
26:49
to work i want to plan for my first home
26:52
or want to plan for my retirement so
26:54
that the thing we can do here if you
26:56
click on retirement
26:58
um i'll do this for me 48
27:01
and just save
27:03
2 000
27:05
keep my fingers nice and easy
27:07
so um
27:08
that's the initial screen you can always
27:11
change these things once it outputs some
27:13
results
27:14
um and you can put in your current
27:16
kiwisaver balance so if you've got
27:17
something in there let's say it's 30 000
27:21
and
27:22
i'm in
27:24
uh
27:25
i'll say growth i'm i'm quite aggressive
27:28
with my accuser but i'll just say growth
27:30
so you can pick your fund type now this
27:32
is important because if you don't know
27:34
your fund type
27:36
um especially if you haven't chosen your
27:38
provider then you're in what we call a
27:41
default fund now a default fund is not
27:43
bad because you're still in keyword
27:44
saver
27:45
but the issue you've got and you'll see
27:48
this coming up in a few slides time is
27:51
that you might be missing out on
27:53
potentially higher returns
27:56
especially if you've got a longer time
27:58
frame to retirement so if you're there
28:00
with you know 20 30 years to retirement
28:03
even 15 years of retirement and you're
28:06
in a default fund because you haven't
28:08
chosen your provider or your fund
28:11
you could be giving up some returns with
28:13
some potentials there
28:15
which is i talk about returns but it
28:17
means money in your pocket to be able to
28:19
do the things you want to do when you
28:21
retire
28:22
simple simple as that and so hopefully
28:24
after today and two o'clock this
28:26
afternoon we'll give you all the
28:28
information and tools to go out make
28:30
your own choices
28:32
um
28:33
and also learn about what the nzdf
28:35
benefit is as well working with the
28:38
mercer kiwisaver scheme so one
28:42
keep that in mind so here we go uh we're
28:44
contributing say four percent
28:46
um and my employer contributes four and
28:49
then all you do is click on view your
28:51
results
28:54
all right so you can see immediately
28:55
there's a nice snazzy graph but we
28:58
started off at our 30 at 48. it's going
29:00
to reach about
29:02
137 000 by the age of 65.
29:05
and then this lovely line down here just
29:08
shows you that to the age of 90
29:11
you can draw out
29:13
126 a week
29:15
so what all it's showing you is that
29:17
you're going to build up the balance and
29:19
then you're going to slowly draw down
29:21
that balance so you're going to take a
29:23
little bit of
29:24
the principle or the balance you've got
29:26
and a little bit of the interest so
29:28
you're actually going to slowly dwindle
29:30
down that balance so 126 bucks on top of
29:33
new zealand super
29:35
and you're thinking hey that's pretty
29:37
cool that's not bad that's how it sits
29:39
at the moment and it's just a quick
29:40
calculation um the other cool thing is
29:44
you can see here you can move the slider
29:46
so if longevity's in your family ie
29:50
mum and dad you know grandparents living
29:52
90 plus then you can quite easily move
29:54
this out to 90 say 95
29:58
and then hit sync well it does it
30:00
automatically
30:02
and then
30:06
and then it works it out that now you
30:07
can draw 109 dollars out to the 95. so
30:10
the tool is very very simple to use and
30:12
very powerful and giving you an idea of
30:15
what it actually um
30:16
can mean
30:17
uh oh cool and there you go dfss and
30:20
nzdf kiwisaver scheme have similar tools
30:23
so there you go it's whatever you're
30:25
comfortable with
30:26
uh either use it on the force financial
30:28
hub
30:29
which is on here
30:31
you can see right here this page and let
30:33
me link that for you just in case you've
30:35
ever wondered where it is
30:38
there you go um or using sort tools so
30:41
whatever you're comfortable with use
30:42
that tool and get in control and
30:44
empowered about how your keyboard save
30:46
is going to look
30:48
the cool thing with discount as well is
30:50
if you want to calculate
30:52
i'm going to pull out some money and
30:54
what impact that might have
30:56
because it is a common question for
30:58
financial advisors in that okay well
31:01
in three years
31:02
time i would like to withdraw
31:05
i don't know let's say 35 000. all right
31:09
ah
31:10
push another button by accident
31:14
so 35 000 alright
31:16
so
31:16
my balance then will be
31:22
uh what am i 51 about 44 000 i'm going
31:25
to draw out 35 it drops it down but then
31:28
it builds back up to 91
31:31
65
31:32
so you can immediately see the impact of
31:34
pulling out your keys over contributions
31:37
for your first home buy
31:42
great question rebecca do you know if
31:43
this is based on contributions only or
31:45
plus a base percentage of return each
31:47
year so if you ever want to find this
31:49
stuff out uh where are we
31:52
so it's allowing for inflation that's
31:54
important so what that means is that the
31:57
cost that's got two percent the cost of
32:00
things
32:01
uh is going up by two percent and we
32:02
also deduct two percent off your return
32:05
so it builds in the return and then it
32:08
also um
32:10
assumes that
32:12
your pay is increasing by the rate of
32:15
inflation each year so two percent
32:17
um so hopefully that answers your
32:19
question rebecca now i know under nzf
32:22
because public sector there's pay freeze
32:23
in place
32:24
um
32:25
so you just have to bear their mind but
32:28
if we look at it realistically you know
32:30
two or three years of
32:32
no increases
32:34
um versus
32:37
20 30 years of planning it's going to be
32:39
quite a small sort of
32:41
impact overall
32:42
um so i would say just keep it with the
32:45
inflation on so at least you're going to
32:46
get a pretty true figure for when you're
32:48
at 65. we have another question here
32:50
what happens to the balance if you die
32:52
before 90. that's a great question
32:54
lynn that oh mark i was going to say it
32:57
comes to me
32:59
uh yes it goes to your estate uh so what
33:02
happens is um
33:03
uh we talked about wells yesterday so
33:05
hopefully you've got a will in place
33:07
it goes into the estate or that big pot
33:09
of money and then your world decides how
33:11
that money is going to be sort of paid
33:13
out to the people that you
33:15
care about or things you care about
33:18
and so the money stays yours is
33:20
effectively what we're saying so
33:21
hopefully it answers that question
33:23
but yeah so
33:25
quick show of this calculator hopefully
33:27
it's something you'll use
33:29
but like mark said you can also use the
33:31
nzdf and
33:33
dfss calculators as well
33:36
which you know uh may be a little bit
33:38
more appropriate because it actually is
33:40
specific to
33:42
the nzd
33:43
scheme
33:44
um
33:45
cool keep the questions coming
33:48
any other questions about the character
33:49
it's pretty pretty simple to use and i
33:51
definitely recommend giving crap you
33:53
cannot break it
33:54
trust me um
33:56
quick win as well if you can feasibly
33:58
afford it
34:00
um
34:01
bump up the contributions and on that
34:03
calculator you can quickly see what
34:05
impact those contributions have
34:07
and we talk about it a lot it's the
34:10
beauty of putting it through your
34:11
kiwisaver is it comes out of your pay
34:13
automatically every fortnight
34:16
within a couple of fortnights you've
34:17
even forgotten about that extra you're
34:19
paying it's not part of this
34:22
thinking every fortnight they have to do
34:24
it becomes automatic and it just happens
34:27
so brilliant
34:28
um
34:30
yes great question why can't we pay more
34:32
than 10
34:33
uh i just think i mean in the old days
34:35
we just used to be able to pay what
34:37
three percent then it went to four and
34:40
um
34:41
one other option so now they've added a
34:42
few more options it's just the limit of
34:44
options so what i would suggest to you
34:47
is if you do want to oh thanks mark it's
34:49
well ahead of me here if you do want to
34:51
make extra payments over and over you'll
34:53
pay
34:54
talk to your provider and ask them to um
34:59
if you can set up an automatic payment
35:00
and then you can just pay money in there
35:02
straight away
35:03
which is pretty cool all right
35:06
um 60 percent of
35:09
18 to 64 year olds are making
35:11
contributions to kiwisaver now it's
35:13
probably a bit of an old stat because
35:14
just so you know if you're over 65 now
35:17
you can join kiwis over still you just
35:20
don't get the benefit of the 521
35:22
matching contribution
35:24
there you go
35:25
um right
35:28
any questions on that
35:34
i'm going to click a link through
35:41
no questions that's good
35:42
so just uh what i've clicked on is my
35:45
funds type so you know to the people
35:47
that have chosen their fund type you
35:48
would have selected you know a defensive
35:51
conservative balance growth aggressive
35:53
or you may well have gone into
35:55
some
35:56
whiz-banging snazzy
35:58
uh single sector funders would call it
36:00
like new zealand shares or u.s shares or
36:03
um
36:04
you know arc
36:05
rocket to the moon type fund um but if
36:09
you haven't picked your fund
36:11
then this is a great little simple tool
36:13
you can use um and i'll show you where
36:16
this is it's under the six steps so if
36:18
you click on six steps and scroll down a
36:20
bit oh there you go step number two
36:23
getting your kiwisaver on track so three
36:25
real quick questions are we good for
36:27
time off each time this is good um how
36:30
long before you expect to start spending
36:32
your time saving money for a first time
36:34
or in retirement i'll do it for me just
36:36
so you see how it works 10 years or more
36:41
yeah right um what's most important to
36:43
you while you're saving um likely high
36:45
returns over the long term even if that
36:47
means big ups and downs in some years
36:50
i'll pick that i'm happy to you know
36:53
um
36:55
oh great question
36:57
uh let's come through i'll answer that
36:58
one second uh what range of gains and
37:00
losses are you comfortable with over a
37:02
single year
37:03
30 percent loss for 100 gain potential i
37:06
like the sound of that so there you go
37:09
so immediately it says it sounds like
37:11
you're looking for an aggressive fund
37:14
surprisingly enough
37:16
so it actually
37:18
gives you that
37:20
after three questions i would recommend
37:23
if you've got the time
37:25
to do the investor kickstarter
37:28
um and i'll quickly just show you on
37:30
this in a new tab
37:33
so the investor kickstarter i know it's
37:35
a weird name but it is a risk profiling
37:39
tool or questionnaire um so it asks you
37:42
nine questions
37:43
and if you answer those nine questions
37:45
it then gives you
37:47
a
37:49
depends profile
37:49
conservative balance procedures and
37:51
we'll talk about this in a little bit
37:53
more detail but once you get one of
37:54
these profiles
37:56
it then gives you a suggested
37:58
mix of how those investments should be
38:01
to suit you
38:03
you uh because i've pointed way off
38:05
there um so if you haven't done one of
38:08
those before
38:09
then it's really great idea to go
38:12
through and do a risk profile
38:13
questionnaire and i have to say
38:15
out of my 30 years of doing financial
38:18
stuff
38:19
this is the coolest questionnaire i've
38:21
seen because it covers a few different
38:23
areas that can have an impact on your
38:26
decision making when investments get a
38:28
little bit
38:29
investment conditions get a little bit
38:31
rougher so to speak
38:32
because it doesn't just talk about what
38:34
you're prepared to lose and when it also
38:37
talks about how you feel about your job
38:38
prospects
38:39
how you feel about
38:41
life in general those sorts of things so
38:43
other things that come into play
38:45
but again it does you know by end of it
38:48
end up with one of five boxes um so a
38:50
couple of questions here coming through
38:52
why doesn't the government pay the 521
38:54
for over 65 who are still working but
38:56
and not drawing down the kiwisaver
38:59
i would say because i'm not a politician
39:02
but
39:03
the fact that once you hit 65 you can
39:07
continue working but you can also clip
39:09
superannuation
39:11
as well as the winter wellness payment
39:14
uh because there's no
39:16
uh checks no testing of that
39:19
to see if you can if it's going to be
39:20
worth it down because you've got lots of
39:22
money
39:23
ex-prime ministers still get new zealand
39:25
superannuation
39:26
it doesn't matter how much money you've
39:27
got behind you you're going to get
39:29
yourself super so i would say that
39:31
perhaps it's a little bit of
39:33
you know they've got superb they've got
39:35
the winter wellness payment we're not
39:37
going to actually come up with the cost
39:39
of 521 as well so hopefully that answers
39:41
that question
39:42
um
39:43
great question here if you're closest to
39:44
retirement age should you go more
39:46
aggressive or safe
39:49
and
39:50
let's park that question because i think
39:52
mark's got a great viewpoint on that
39:55
um
39:56
because it's life doesn't stop i'll just
39:59
i'll position it with life doesn't stop
40:01
when you retire does it
40:03
and we talked about living to 1995
40:06
but uh when mark says his bit later on
40:08
i'll let him touch on that as well so
40:10
hopefully that just punched that
40:11
question for them
40:13
does investment time include time after
40:15
retirement great question allen and it
40:17
does link into that because
40:19
you know whilst we stop working
40:22
we continue living
40:24
well we'd like to continue living for as
40:26
long as possible so potentially if you
40:29
think about it if you retire at 65
40:32
you've essentially got another 25 to 30
40:35
years of
40:37
enjoying life
40:39
so that is a very long time frame for
40:41
investments i'm not saying you have to
40:43
be super aggressive
40:44
but you do need to try and keep the
40:46
money working for you because that's
40:48
your money's new job you've now given up
40:51
work or you know semi-web whatever it is
40:54
but it's your money's job to now keep
40:56
painting you so you want that working as
40:58
hard as possible hopefully it answers
40:59
your question
41:01
um so
41:02
if we go back to our little thing here
41:05
where are we
41:06
it now takes us through to smart
41:09
investor
41:11
right
41:12
now
41:14
1042
41:17
now this tool here what i'm going to do
41:19
is
41:20
go through a few more slides and then
41:22
we'll come back to this tool because
41:24
there's a there's a couple of things
41:26
that we can talk about around those
41:28
profiles that i just mentioned
41:30
and what i noticed last week and
41:32
previous webinars there's a lot of
41:34
questions coming up
41:35
after using this tool
41:37
we do also cover this tool as well a
41:39
little bit more in our session at two
41:41
o'clock um so i just want to make sure
41:43
that we give the right time to the right
41:45
space
41:48
in this session but do keep asking
41:50
questions all right so this is the smart
41:51
investor tool
41:53
and as you can see it's just a brief
41:55
quick filter
41:57
kiwisaver because that's what we're
41:58
going to review or manage funds if you
42:00
want to do something separate so that we
42:02
can review it as well
42:04
but it means it's a tool
42:06
to review every single kiwisaver fund
42:09
out there
42:11
so if you've never used or if you ever
42:13
scratched it and wondered how the heck
42:15
am i ever going to find out a good key
42:16
saver provider that suits me
42:19
then this is the tool for you all right
42:22
so let me go back to the prezzo
42:25
and
42:26
here's what i'm talking about these fund
42:28
types right so remember those list of um
42:32
five that we had so
42:34
defensive conservative balance growth
42:36
aggressive so those are your profiles
42:39
these are what we call investment
42:41
strategies
42:42
so you can see level of risk low
42:45
aggressive level of risk high so the
42:47
dial just moves according to
42:50
um
42:51
how much you've got in riskier assets
42:55
likely ups and downs this is highly
42:56
accurate
42:59
very sedate so to speak
43:01
and a defensive because you don't want
43:03
the ups and downs you want to know what
43:04
your money's worth
43:06
uh through to you know little squiggles
43:08
for glia a lot of lot squid layer and
43:10
then there's a whole wiggle going on
43:12
here
43:13
but it just goes to show that the
43:15
potential volatility from higher from
43:18
low to high
43:19
gets more and more pronounced the more
43:21
and more
43:22
uh riskier assets such as shares you
43:24
hold right
43:27
if you're going to take that risk or not
43:29
take that risk then the potential
43:31
returns on offer
43:33
go from low to high as well
43:35
so
43:36
you know that's the age-old um
43:41
uh yes muzz and happily on the next
43:43
slide we can show you some of that and
43:45
mark we'll talk to that as well which is
43:46
cool so hold that thought must um and
43:49
then really importantly the last line
43:51
here investment time frame so how long
43:54
do you plan to invest for
43:56
and for the people on this call right
43:59
now that are looking at buying their
44:00
first home if anyone sort of said you
44:03
know if you're going to buy your first
44:04
home in a year or two
44:06
and and you know your friendly banker
44:08
said oh you need to be conservative
44:10
you can see immediately conservative two
44:13
to six years
44:15
you know there's potential for loss of
44:17
money
44:18
in that time frame so you need to be
44:20
prepared to ride through that and have
44:22
that time frame to invest
44:24
so i would challenge you to have another
44:27
conversation and find out well hang on
44:29
if i'm going to buy a house in 12 months
44:31
time
44:32
and i'm in a growth fund because the
44:34
returns have been great um
44:36
you run the risk that markets could you
44:38
know turn on the dime like they did last
44:41
year lose 30 and suddenly your house
44:43
deposit might be at risk as well you
44:46
need to have that time to recover
44:48
hopefully that makes sense so i'm just
44:50
going to bring mark on now
44:52
uh oh there you go mark you can just
44:55
unmute and i think you're away
44:57
okay so
44:59
thank you dennis um really good
45:00
questions coming through so please keep
45:02
them coming through and i will come back
45:04
and answer some of them just just in
45:06
terms of um the status because the ncdf
45:10
kiwisaver scheme is not open to the
45:12
general public it doesn't actually
45:14
feature in either the morningstar or
45:17
the sorted
45:19
sites
45:20
and so the closest thing is the mercer
45:22
scheme so if you have a look at mercer
45:24
kiwisaver scheme you'll see
45:26
it's reasonably close in terms of
45:27
returns and everything else but there is
45:29
a different fee structure because we
45:30
actually use the fees of our scheme to
45:32
partly subsidize the financial advice
45:34
service in particular the purpose of
45:36
this chart and we update this every
45:38
three months is just to show the returns
45:40
um over the last five years since the
45:42
inception of our scheme on the first of
45:44
october 2015. and it highlights the
45:47
difference between
45:48
investing your money in a defensive
45:50
portfolio like cash conservative or
45:52
moderate which are the three bottom
45:54
lines
45:55
as opposed to returns in the growth
45:58
funds which are the growth high growth
46:00
of the shares the three top funds and
46:02
one thing you'll notice is that in none
46:04
of the scenarios have you actually lost
46:06
money
46:07
but for the growth high growth in the
46:09
shares portfolio it's been a bumpier
46:11
ride but the returns are actually
46:13
substantially higher
46:14
and so what this highlights is if you
46:17
prepare to take the risk and you have
46:18
the tolerance for taking the risk
46:20
you will get higher returns over a
46:22
longer period of time but it will
46:24
certainly be a bumpier ride and i use
46:26
the analogy it's like getting into a
46:27
roller coaster you get into the roller
46:29
coaster you buckle yourself in you don't
46:31
try and get off halfway through
46:34
because that's where you come across it
46:36
so
46:37
what it highlights again is this is very
46:38
much a long term game
46:41
and you need to
46:42
need to think long term about where you
46:44
want to be in 20 30 40 years time and
46:47
what's the right portfolio for you to
46:49
actually help
46:50
achieve that
46:53
cool
46:54
thanks mark um yeah so remember how i
46:57
talked about if you're in a default fund
46:59
so at the moment it will change in
47:02
december so bear that in mind if you
47:04
don't make a change it's going to change
47:05
but in a default fund you're a
47:07
conservative and you can see you know
47:09
this is last five years and we always
47:10
say past performance is never an
47:12
indicator of future performance and
47:14
there's a reason why we say that because
47:15
nobody can predict the future
47:17
um but the key is is that if you look at
47:19
the green line this is our default fund
47:22
thereabouts
47:23
uh here we go last five years since
47:25
october 15 you know you've had some some
47:29
ups along the way you've gone from what
47:30
10 000 to just above
47:33
11 000. so you've made money so that's
47:36
cool uh you've also had a little bit of
47:39
a dip but not as big as the other ones
47:42
but then if you look at you know if you
47:44
have choice over your funding even if
47:46
you went to
47:47
a moderate or even a balanced fund
47:49
because that's where you are as an
47:51
investor you can see the potential
47:53
returns you're giving up um so moderate
47:56
you know we're up to 12
47:58
so you've
47:59
effectively doubled your return over
48:01
that time
48:03
if you look at balance wow
48:05
you've um
48:07
you're up four thousand basically about
48:08
40
48:10
um on your original team so that's the
48:12
sort of thing we need to worry about if
48:14
we haven't selected our fund type so
48:17
hopefully with those tools
48:19
do your investor profile so figure out
48:22
who you are as an investor
48:24
and figure out your fund type and then
48:26
see what's out there and obviously with
48:28
the nztf with mercer scheme oh yep no
48:31
mark you should be able to just unmute
48:33
yourself
48:34
so our default setting has always been
48:36
the balance fund dennis
48:39
we set that up uh right from the outset
48:41
to ensure that people actually had
48:42
access to more aggressive returns
48:45
and for the for the balance fund um over
48:49
the last five years for the kiwisaver
48:51
scheme for the last year it's been the
48:52
return of twelve point one six seven
48:54
percent
48:55
uh for the three years an average of six
48:57
point five six minutes for the five
48:58
years an average of six point seven nine
49:00
eight percent and that's after deduction
49:02
of fees and taxes
49:03
right
49:04
um thanks mark because that's brilliant
49:06
because the government's actually made
49:07
the decision from december
49:10
to change all the default conservatives
49:13
into balance because that was a better
49:15
option to to begin with we we actually
49:18
led but we led the way dennis i know
49:20
that's what i was going to say it's
49:21
brilliant the government's been looking
49:23
at the government's been looking at what
49:25
we've been doing
49:27
yeah
49:28
exactly um cool so that that's just a
49:31
little sort of summary on what's
49:33
available through the nzdf kiwisaver
49:35
scheme um now remember how we talked
49:38
about trying to picture
49:40
what um
49:42
is oh there you go mark question for you
49:45
is flexi saver similar terms and marks
49:47
already answered that yes so he's giving
49:48
a very close eye on his chat
49:50
so remember how we talked about what
49:52
what it might cost to live in retirement
49:55
so on your screen here and what i will
49:58
do is
50:00
i'll just shrink this so i can work
50:03
try and do this multitasking in the
50:05
background
50:07
is give you the link for the study
50:09
and then i'll bring up on screen what
50:11
the study looks like and then for you
50:13
detail orientated people
50:16
um if you want to look at the study i've
50:17
just put the link on the screen
50:20
on the chat screen i should say so uh
50:22
where are we going to
50:24
here but when you click on that link
50:27
this is what comes up it's the massey
50:28
westback study and i've just picked out
50:31
two person households that's finished
50:32
per week but you can see
50:34
how the figures have been worked out and
50:36
you know i would encourage you to have a
50:38
look at it because you can see that some
50:41
of the
50:43
expenditure household textiles 4.36
50:47
a week
50:48
right really okay
50:50
so some of it may apply some of it may
50:52
not but have a good faucet through
50:55
and then that's the background to these
50:57
figures so just quickly taking you
50:59
through this a one-person household
51:02
and a two-person household all right
51:05
um one-person super 437 per week two
51:08
person super 672 per week
51:11
and then
51:13
oh cool so mark just confirmed as well
51:14
this will be going up on force financial
51:16
hub shortly but you can take the
51:20
ball by the horns because you've got the
51:22
study and you can show it off around all
51:24
your mates already
51:26
um and apparently there's a newer study
51:27
coming out too so which will update
51:29
these figures which will be a bit more
51:30
accurate uh but what we've got are main
51:33
centres and regions and no offence to
51:36
anybody outside the main centers that is
51:38
auckland wellington christchurch and
51:40
then everything else is region
51:42
um so what you can see on this line
51:45
sorry it's quite busy
51:46
is a no-frills
51:49
retirement
51:50
expenditure or lifestyle is going to
51:52
cost roughly 6.93 per week now very
51:56
clear here it does not allow for rent
52:00
or mortgage
52:02
so it assumes um these numbers before
52:05
tax um yeah this is expenditure um and
52:09
then your superannuation
52:11
is
52:12
i think that's before tax i think from
52:15
memory
52:16
uh but happily i'll give you another
52:19
great link
52:20
which is hidden underneath my
52:24
control here and i just need to wait for
52:25
this
52:27
zoom control to disappear
52:32
there we go all right i will give you
52:34
the link to work and income to give you
52:36
the rates
52:39
there you go
52:40
so you can work out so you can see
52:42
straight away in tax code 672 so it is
52:45
after tax
52:47
but only if you're in the m tax bracket
52:49
and if you want to do it before tax for
52:50
a couple
52:52
769 dollars
52:54
um each
52:56
perform that's per fortnight i think it
52:58
is yet each fortnight but you've got the
52:59
link to be able to look through it and
53:01
hopefully that answers your question
53:03
there um so where are we so no thrills
53:06
693 and b i think i'll move to regional
53:09
amount of time to get more for my money
53:11
uh yes it effectively is cheapened
53:13
regions though
53:15
you'll notice here
53:17
um
53:18
where are we
53:20
it's
53:21
a few luxuries in the regions is
53:23
slightly more expensive than a few
53:24
luxuries in the main centers
53:27
there you go
53:29
good good bargains if you haven't thai
53:31
happy there you go
53:33
and then if you look down and then the
53:34
last line on this particular graph and i
53:37
think take a snapshot of this if you
53:38
don't want to look through the study
53:39
just take a photo
53:41
there's a lump sum 223 000
53:44
plus new zealand super to pay
53:47
for the 693 000 so it just gives you a
53:50
quick sort of calculation about what it
53:52
might cost
53:53
um but yeah have a look at the study i
53:56
don't want to focus on this one too much
53:57
because i'm going to show you the
53:58
retirement planner which is um a really
54:01
cool tool but i keep those questions
54:03
coming
54:04
i think we're getting lots of questions
54:06
which is good
54:07
uh where are we
54:08
so tools
54:10
uh retirement calculator
54:13
so this is the one we want to
54:15
number crunch and figure out
54:18
that gap all right so let's hit start
54:21
planning i'll do it for me 48
54:24
65 and i'll
54:26
see him i'll be single because it's
54:28
easier you can see here you can pick a
54:30
main center or region you can click
54:32
either one
54:33
i'll just pick main center
54:36
and i want choices now you can also pick
54:39
your own goals so you can put your own
54:41
figure in there as well if you've got an
54:42
idea of what you might like
54:45
um and kiwisaver balance at the time
54:47
remember i've worked it out was about
54:48
137 000
54:50
1000 um other savings well you can put
54:54
in all sorts of other savings there
54:57
i'll leave that unchecked
54:58
and you can put in um
55:01
well no not your
55:03
new zealand supers there so you can see
55:04
what it is but you can put in your other
55:06
income so if you're doing part-time work
55:08
or other investment work
55:10
or other rental income you can put that
55:12
all in there as well
55:14
but i'm just going to click on my
55:16
results and immediately what it shows is
55:19
i'm actually going to get closer to 594
55:22
per week based on my kiwisaver and new
55:24
zealand super
55:26
so that tells me immediately
55:29
i need another 596 per week to get to my
55:32
goal so that's my gap analysis what can
55:34
i do now
55:36
to sort of shrink that gap at a later
55:38
date
55:40
so kiwisaver shows you 157 and the bulk
55:43
of it's really coming from
55:45
oh sorry the bulk of it's coming from
55:46
new zealand super in light blue
55:49
excuse me
55:51
and again you can you can see the impact
55:54
of
55:55
some part-time work
55:57
uh if we said 250
55:59
a week
56:02
sync to dashboard
56:04
now i'm going to get to 844
56:06
so what's my gap uh where there's my
56:09
shortcut there is moved around 346 so
56:12
i've actually you know working part-time
56:14
250 bucks a week net
56:17
actually shrinks that gap obviously but
56:19
it has a massive impact
56:21
on
56:22
my ability to enjoy retirements as well
56:25
so definitely give the council go you
56:27
can build your partner into this as well
56:29
i just did it myself to keep it easy
56:32
but yeah anyone going to give that a
56:34
crack after today i hope
56:39
while we wait for any answers
56:42
so we call it a state of play but it's
56:43
um
56:44
ah awesome good definitely i love that
56:47
uh frog by the mark there's a question
56:49
for you mate uh
56:51
i'll let you answer that one so i'd keep
56:53
chatting um so people are gonna do it so
56:55
that's great love it um so the state of
56:57
play is figuring out okay what are my
56:59
investments worth now
57:03
and bridging that gap because what are
57:05
they going to be worth then
57:06
and what can i do
57:09
if there is a gap to you know now and
57:12
remember remember that uh analogy a
57:14
little and long
57:15
so
57:16
what are the little steps we can make
57:18
now
57:19
that can help
57:20
in 5 10 15 20 years time
57:23
let time do the work for you in bridging
57:26
that gap for you so you'll see here
57:29
increase your kiwisaver contributions
57:32
paying off the mortgage quicker because
57:33
they could do exactly the same because
57:34
quickly you pay that off the quicker
57:36
you've got saved mortgage payments which
57:39
you can then put towards uh investments
57:42
uh and last but not least investigate
57:44
additional
57:45
investment options because one key thing
57:47
about this is we're assuming you want to
57:49
retire at 65
57:51
because that's where kiwisaver becomes
57:52
available but if you want to retire at
57:54
60
57:55
um keep yourself another five years away
57:57
what what are you going to do to to live
57:59
between 60 and 65 so that planning you
58:02
know ideally needs to start as soon as
58:04
possible so you're in the best possible
58:06
position to live the life you want to
58:09
live so to speak um so people say six
58:11
years new 50
58:14
70s and you're 60
58:16
but i assure you that painting is
58:19
not to sound that on the president so
58:21
what have we covered today uh
58:22
visualizing retirement because it can be
58:24
very very useful to actually figure out
58:26
what you want to look like
58:28
um and then obviously planning for that
58:30
retirement so knowing your numbers
58:32
knowing how it all comes together
58:35
and then
58:36
literally in the next session at two
58:37
o'clock which i hope you can all attend
58:40
um
58:43
oh cool yes um i'll send that to mark in
58:46
a second i'll just finish this off um
58:48
and then we let it grow so
58:52
this frozen song ever no let us know oh
58:55
my god put that completely wrong um but
58:58
yeah get it growing so allow it time to
59:00
enjoy that compound growth um so
59:03
remembering a little and along
59:05
so hopefully you can all join us at two
59:08
um i'm not gonna ask you what you will
59:10
do because obviously a lot of people are
59:11
sitting and using calculator and at two
59:13
o'clock as well in that session we will
59:15
cover off
59:17
this tool in a bit more detail
59:20
because you haven't really seen the
59:21
power of it at work
59:23
um but when you do it's it's
59:26
pretty awesome i might be biased
59:28
so thank you all uh mark you can feel
59:30
free to chat um
59:32
and while while are you there mark yes i
59:34
am i am um one question came through
59:37
person has three questions that might
59:39
take some time mark can i chat with you
59:41
after so yes you certainly can yep
59:44
um all yours okay so just a number of
59:47
points that came up during the session
59:49
someone asked about gsf and the answer
59:51
that is yes anything you get from gsf is
59:53
on top of national super and any other
59:57
kiwisaver funds you may have um and
59:59
remember your gsa payments are free of
60:02
tax so you you factor that into your
60:04
equations as well
60:06
the key thing about all of this is
60:08
there's people now have a lot of tools
60:11
available to help them with their
60:12
planning but a lot of people don't
60:14
actually look at those tools and so part
60:16
of the purpose of these sessions to
60:18
encourage people to look at the tools um
60:21
we actually had our the member
60:23
statements that went out mid-may of this
60:25
year the member statements for our
60:26
scheme
60:27
68 of people have actually opened up
60:30
those statements because we actually
60:31
track what uh people are doing big
60:33
brother as well and truly our big
60:34
sisters
60:37
um and and one of the things about the
60:39
member statements is there's some really
60:41
incredible information there to help
60:42
with your planning
60:44
it shows you how much you've got as at
60:45
the 31st of march of each year
60:48
but it also projects forward and says
60:50
dennis you're 48 at age 65 if you
60:53
continue contributing at the same rate
60:55
and in the same portfolio we believe
60:57
that you're actually going to have x
60:59
number of dollars available to help with
61:01
your retirement
61:02
and by the way for 25 years this will
61:05
give you x number of dollars per week to
61:08
supplement national super
61:10
the reason why they use 25 years is they
61:13
make the assumption now that everyone is
61:15
going to live on average for at least 25
61:17
years of retirement assuming that people
61:19
retire at age 65 that means on average
61:21
they'll up to 90
61:22
but the reality being a young recruit
61:24
coming into the navy or the air force of
61:26
the army today is a 17 or 18 year old as
61:29
long as they don't smoke then there's no
61:32
reason why they won't look to their mid
61:34
90s or even into their
61:36
late 90s early 100s and so
61:39
um key thing about it is you've got a
61:40
lot of tools available we're all living
61:42
along which is great but we're going to
61:43
need to have the money to supplement our
61:45
our national super so please do have a
61:47
look at those tools
61:48
and all the stuff that's on the sort of
61:50
site we actually have in our savings
61:52
schemes as well and it's interactive you
61:54
can play around you can say okay
61:56
i'm contributing three percent now but
61:58
what would the figures look like if i
61:59
was contributing four percent or six
62:01
percent or eight percent and i'm in a
62:03
conservative portfolio but what would
62:05
the figures look like if i adjust that
62:07
to a balanced or a growth or a higher
62:09
growth
62:10
and so it's very much interactive to
62:11
help you with your
62:13
um with your planning
62:15
um in terms in terms of the massey
62:17
university figures they're excellent
62:19
figures that come out every year last
62:21
year's figures got delayed because of
62:23
the impact of covert and what they've
62:25
done is they've actually made an
62:26
adjustment to the methodology now to
62:28
also reflect covert and the impact on
62:31
household finances and secondly also the
62:34
fact that there's now a heating
62:35
supplement that's provided to a
62:37
household where someone's over the age
62:39
of 65
62:41
and so that's been factored into the
62:43
methodology as well we urge you to
62:45
release all these things about three
62:48
weeks ago and we had i had everything
62:50
booked for the ilp site and everything
62:51
else and then covert came along and i
62:53
got bumped
62:54
and so we're going to sit on it for a
62:56
couple more weeks until the dust has
62:58
settled down
62:59
and you'll see that we're putting up
63:00
these figures on the force financial hub
63:02
we're coinciding with that uh figures to
63:04
do with the latest financial well-being
63:06
survey that we ran in may and june and
63:09
we'll be publicizing those results at
63:12
the same at the same time
63:15
third thing i just want to mention again
63:16
is we do provide a financial advice
63:18
service to help people with their
63:19
planning most ain't direct limited all
63:21
the contact details are on the force
63:23
financial hub so please have a look at
63:25
them give them a call and have a chat
63:27
with them
63:28
what we do is we we do a circuit of
63:30
expos and things every year around the
63:33
camps and bases
63:34
um and uh we had a whole schedule
63:37
planned of course we've had to can
63:38
everything because of covert but hoping
63:40
to get back into a routine reasonably
63:43
quickly where again you can actually
63:44
have face-to-face meetings with people
63:46
as well but they are happy to do zoom
63:48
meetings with people or office teams and
63:51
so if you want to have a chat with them
63:53
you know please please give them a call
63:55
okay so those are the key things i want
63:57
to talk about but happy to take
63:58
questions i'll just stay online with
64:00
dennis and
64:01
we're happy to take questions so please
64:03
please um keep them coming
64:08
and i like iggy's goal my goal is to
64:10
grow old disgracefully and i think
64:11
that's a great idea iggy
64:14
um but please do some planning because
64:16
you will need the money um it's nice
64:18
it's nice being disgraceful any time but
64:20
it's always good to do it with class
64:22
[Laughter]
64:25
oh yes sir hang on i'll meet you right
64:27
now there you go you can through
64:30
yeah just need to mute yourself and
64:31
you're away
64:34
okay
64:36
yes oh thanks dennis hey mark um this
64:39
might i'm not sure if it's just me being
64:41
a user but um the on the phone app for
64:44
the nzdf kiwisaver flexi saver
64:48
um i don't go into it too often but each
64:50
time i do you have to keep logging in
64:52
i'm
64:54
so there was a new
64:55
and lisa thanks for that we did actually
64:58
have a lot of problems with the phone
64:59
app it's now been replaced
65:01
so can i suggest you actually uh remove
65:04
the current phone app you have and and
65:07
install the new one
65:09
and you'll find you just set yourself a
65:11
four digit pin
65:13
and any time you can go into it you just
65:15
by pushing that four digit pin and i do
65:17
it i drive them to distraction because i
65:18
go online every night normally on the
65:20
bus when i'm coming home
65:22
um um i go online every night to see
65:24
what's been happening over the last 24
65:26
hours so um it's it's very
65:28
straightforward now but we do
65:30
acknowledge there were frustrating
65:32
problems with the previous version and
65:33
my apologies for that okay no worries um
65:36
and just another one when you change
65:38
your fun type like if you move you know
65:41
i know you shouldn't be doing it all the
65:42
time but if you do say you want to move
65:44
it up to a more aggressive one does the
65:47
balance get stuck in the previous fun
65:50
time you cannot transfer the lot you can
65:53
choose you can either elect to leave
65:55
your your fund in the current setting
65:58
and just have all new contributions go
66:00
into the more aggressive setting
66:03
or you can you can transfer the whole
66:05
lot across
66:06
okay i haven't worked that out so i've
66:08
done it a few times now okay i have to
66:09
go back in so give mercer a call listen
66:13
and the number is have you got a pen
66:15
handy it's
66:16
the the number is oh 800
66:19
333 787
66:24
and they will help you
66:26
do that
66:26
nice thank you yeah okay it's just a bit
66:29
tricky
66:30
um
66:31
and that was the only or the only other
66:33
thing was probably more an observation
66:35
and by that chart or that graph that you
66:36
showed
66:37
um how kiwi save has gone up and down
66:40
the defence force one anyway
66:42
um
66:43
and there was obviously a great dip
66:44
around what march
66:47
last week
66:49
um a lot of my friends that are in
66:52
different ones were saying they lost a
66:54
hell of a lot of money um it looks like
66:56
it's all bumped back up again anyway but
66:58
i didn't really see that happen with the
67:00
nzf ones that um so it was actually only
67:03
for apparent so two things about that
67:04
lissa and that's a really good point we
67:06
are going to cover this in more detail
67:08
this afternoon okay so when your friends
67:10
referring to a loss would i
67:12
would actually have only been a loss had
67:14
they changed something
67:17
because um for our scheme it was around
67:19
about a period of seven weeks from the
67:21
beginning of february through to the
67:22
beginning of uh late march beginning of
67:24
april 2020 when the markets just went
67:27
into a tailspin
67:29
and for me as an example i experienced a
67:32
paper loss of about 28 000
67:35
but i bounced back i just held my breath
67:38
i stayed on the roller coaster with my
67:39
seat belt buckled on held my breath and
67:42
everything has climbed back and i've
67:44
actually gained more than the 28 000 i
67:47
lost
67:48
but we did actually have about a
67:49
thousand people who did make an actual
67:52
change and for those people the loss was
67:53
a real loss
67:55
and we were putting out advisory notes
67:57
on literally honor every second to three
67:59
day third day to say to people don't
68:01
panic don't do anything the world is not
68:03
going to stop
68:05
but um unfortunately a number of people
68:07
did and that's their call at the end of
68:09
the day but for those people it became
68:11
an actual loss uh shirley said she's
68:14
lost sound as as yeah i've still got you
68:17
i'm guessing everybody else was still
68:19
here maybe i did i did hear on the radio
68:22
this morning dennis that they've been
68:24
internet problems again around the
68:25
country um um charlie's got it back okay
68:29
apparently people again trying to um
68:32
yeah and anz has got major problems
68:34
today again um
68:37
you know what i call it spamming or
68:38
whatever these idiots are doing and
68:40
things so um yeah so hopefully it
68:41
doesn't disrupt this afternoon
68:46
um yes so i know you don't have a
68:48
crystal ball
68:50
but what's the likelihood with this
68:51
other lockdown covert etcetera is that
68:54
you know have you seen anything so far
68:56
listen i go online i go online every
68:58
night and i i didn't actually go to bed
68:59
until about two o'clock this morning
69:00
because i set up looking what the
69:02
markets are doing around overseas and
69:04
the markets are just bouncing back and
69:05
they're just going from strength to
69:07
strength at the moment but
69:09
like any roller coaster what goes up
69:11
comes down and so
69:13
at some stage there will be a bit of a
69:15
um a slow down
69:17
um
69:18
who knows when um
69:20
but
69:21
things just don't go up and up and up
69:24
but what we discussed last week is i've
69:26
actually got returns that show back to
69:27
the end of the american civil war in
69:29
1865
69:30
um and i was actually live
69:34
um is that what happens about every
69:37
seven years on average there will be a
69:39
major upset to the markets whether it's
69:41
a covert or the world trade towers or
69:44
the asian crisis crisis or whatever else
69:47
about every seven years
69:49
and the downturn will be from anything
69:51
between five weeks and 18 months and
69:54
then the markets start bouncing back
69:56
again
69:57
and so this is why it's important to
69:59
take a long-term perspective of these
70:01
things rather than focus on the short
70:03
term because longer term returns will
70:06
continue um going up
70:08
great
70:09
yeah and i'll just i'll just add to that
70:11
as well i mean you know
70:13
we look at that large dip that we had
70:15
february march last year
70:17
um you know markets i think share
70:19
markets lost about 35
70:21
it's quite massive and very very quickly
70:23
it was in the space of a couple of days
70:26
very quick very pronounced almost off a
70:28
cliff um who would and i'm included in
70:32
this i would never have thought
70:34
that i mean i stayed fast i remained
70:36
invested because it's long term i'm 17
70:38
years away oh okay cool no worries
70:41
um
70:42
but who would have thought that markets
70:44
would bounce back
70:46
and then some
70:47
since that pandemic because the pandemic
70:49
is still going around the world and it's
70:51
even you know it's it's morphed into
70:54
delta and there's potential another
70:55
variant out there as well not lambda
70:58
there's a next one
70:59
or something rather
71:01
but who would have thought that so what
71:03
needs to come to mind is okay who you
71:05
are as an investor and really
71:07
importantly your time frame
71:09
because trying to time the market as
71:11
mark um
71:14
it's nigh on impossible nobody can do it
71:16
and if anybody says
71:18
they can um cheers must comment we'll
71:21
hopefully see it too um
71:23
and if anybody says they can no they
71:25
can't you cannot predict the future so
71:26
you have to just go back to the basics
71:28
and i know it sounds really boring
71:30
what's your time frame to needing the
71:32
money and who you are as an investor
71:35
just to make sure that that keeps you on
71:37
course um and
71:38
as mark said as well uh talk to the
71:41
advisors at milestone direct because an
71:43
advisor's job is to you know
71:46
take you along that path and keep you
71:48
focused to steer you away from the noise
71:50
so to speak
71:52
sorry just adding to your point
71:56
right there
71:59
hello
72:00
yeah i can see muscle
72:02
yeah i'm just gonna yeah read that
72:10
oh i think that's a question for mark
72:13
the the
72:14
dennis the uh sorry uh russell the
72:17
the air new zealand flexi saver scheme
72:20
is not the same as the ncdf kiwisaver
72:22
scheme
72:24
so with the nz flexi saver scheme you
72:26
can make contributions through payroll
72:28
and if you do it through payroll you
72:30
complete the md221 form it's a minimum
72:33
of twenty dollars per pay otherwise you
72:34
can contribute what you like but if you
72:37
want to
72:38
contribute to the new zealand flexi
72:39
saver scheme then you have to do that
72:41
through internet banking okay so
72:44
um i i had to actually literally draw
72:47
blood to try and get payroll to accept
72:49
deductions for the flexi saver scheme
72:52
but they wouldn't they won't do it for
72:53
other flexi saver schemes it's purely
72:54
our scheme
72:57
have a look at our scheme because again
72:59
you get reasonable returns and
73:01
we provide access to the 50 000 year
73:03
prezi cards and all that sort of thing
73:05
of course that you don't get through
73:07
membership of the new zealand flexi
73:08
saver scheme but if you're happy with
73:10
that then you know i'm good on you
73:13
hopefully it answers your question
73:14
russell all good
73:17
so we've had uh we're down to 14. um
73:21
oh yeah cool um yeah keep the questions
73:23
coming otherwise we'll uh we'll
73:26
close up so to speak and um
73:29
i'll have a sleep before two o'clock so
73:31
i'm on on the money for two
73:34
um
73:36
i just gotta say dennis in terms of the
73:38
um the shares port photo for our scheme
73:41
the returns have been extraordinary and
73:43
this is after the deduction of fees and
73:45
taxes um uh
73:47
25.745 percent for
73:50
um um the the last 12 months um
73:54
for the and for the
73:56
um high growth it was 23.039 because we
74:00
remember we have seven portfolios in our
74:02
schemes as opposed to the five that are
74:04
shown on the um
74:07
on the sort of site
74:08
so the share and then for again for the
74:11
um average
74:13
five-year returns since the inception
74:16
scheme that for the
74:17
shares portfolio the average five-year
74:19
return has been 12.047 percent
74:23
um and for the high growth the average
74:24
has been 10.43
74:26
every year after deduction of fees and
74:28
taxes
74:31
yeah it's been a tremendous market
74:33
period since uh the gfc hasn't it yeah
74:36
yeah
74:38
all right well i don't think there's any
74:39
questions coming through so there we go
74:42
yeah
74:44
so look forward to seeing and hearing
74:45
everyone this afternoon at uh just
74:47
before two o'clock yeah it sounds good
74:49
to me all right and to the last person
74:51
said no problems at all um and good day
74:54
we'll see you there as well listen good
74:55
to see you and i'll i'll promise i won't
74:57
unmute you this time when you put your
74:59
hand up just in case uh which is all
75:02
good
75:02
and we just had a comment thanks gents
75:05
very informative i'm going to go and
75:06
sort it for a bit so that's cool
75:09
the person who wanted to have a talk to
75:11
me uh are they staying online or or what
75:14
i know that was um lissa she asked you
75:16
okay
75:18
that's fine that's fine
75:20
cool all right well um
75:22
and
75:23
enjoy your respite from me till two
75:25
o'clock and then uh looking forward to
75:27
seeing all it too you've got time to
75:29
research some more jokes dennis
75:33
of course of course
75:34
[Laughter]
75:37
see you this afternoon bye all right
75:39
cheers back