Tips
- Make a plan and review it regularly, at least every two years or whenever your financial circumstances change.
- Involve the family. They’ll be affected by your decisions and will be able to offer knowledge and support.
- Do a budget. You need to plan your semi-retirement / retirement spending.
- Know what government assistance is available to you.
- Look at your nest egg. How reliant you are on your nest egg will determine the level of investment risk you can afford.
- Make sure your will and power of attorney are kept up-to-date and that they reflect your current wishes.
- Seek financial advice from several sources. Tap into the wealth of knowledge and experience held by other retirees, as well as talking to professional advisers.
- Don't just hope you'll be OK, work it out. So you can enjoy the confidence of knowing how much you can afford to spend each year from now.
Thoroughly investigate all government benefits available to you
You may be entitled to more than you think. Ask Work and Income or go to www.workandincome.govt.nz
A way to use your money to make it grow.
An investment is normally considered to be risky if there is a reasonable chance that its value will vary significantly in the future. For example, an investment in shares is more risky than an investment in a bank term deposit. The value of shares may fall below the price paid for them while the value of bank deposits generally do not. High risk investments should only be taken on with long term intentions. You would expect a high long-term return to compensate for high risk.
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