If you’re self employed then making contributions to Kiwisaver is that little bit harder than if you just get it clipped from your wage ticket each week. Even then, however, there are things to think about, like what type of scheme are you in?
- High Risk
And what are your fees like?
You can check this out at http://fundfinder.sorted.org.nz/funds/balanced/fees/
But it is even more complicated if you’re self employed and have to make the conscious effort to put something into Kiwisaver. So first of all, should you be doing it?
Yes, for two reasons:
- It’s good to save and this provides some structure to your savings.
- The government will give you $521.43 per year if you put in at least $1,042.86. This is the best investment on your money you’ll ever make!
And the second question is, how do you do it?
You can either make regular payments online to your Kiwisaver account or make lump sum payments. You might want to calculate how much you want on retirement and there’s a handy calculator at https://www.sorted.org.nz/calculators/retirement which will give you the hard data on how much you need to save to have the retirement you want. If you’re a young person, then approximately $600 savings per month will give you a retirement income of $800 per week.
We are planning on working much harder with our business clients to help them plan and grow their assets as well as their income.
Make a plan about your future.
Call or email firstname.lastname@example.org for more information.