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KiwiSaver Is Changing, Here’s Everything You Need To Know · Making Cents

• 0:00
  Your
• 0:00
  KiwiSaver
• 0:01
  is
• 0:01
  probably
• 0:01
  worth
• 0:02
  tens
• 0:02
  of
• 0:02
  thousands
• 0:03
  of
• 0:03
  dollars,
• 0:04
  maybe
• 0:04
  hundreds
• 0:05
  of
• 0:05
  thousands
• 0:05
  of
• 0:05
  dollars.
• 0:06
  And
• 0:06
  for
• 0:06
  many
• 0:06
  of
• 0:07
  us,
• 0:07
  it's
• 0:08
  the
• 0:08
  key
• 0:08
  to
• 0:08
  getting
• 0:08
  into
• 0:09
  a
• 0:09
  first
• 0:09
  home
• 0:10
  or
• 0:10
  just
• 0:11
  feeling
• 0:11
  financially
• 0:12
  secure
• 0:12
  for
• 0:12
  the
• 0:13
  future.
• 0:13
  So
• 0:14
  no
• 0:14
  pressure
• 0:14
  then
• 0:15
  when
• 0:15
  you
• 0:15
  hear
• 0:16
  all
• 0:16
  of
• 0:16
  the
• 0:16
  KiwiSaver
• 0:17
  rules
• 0:17
  are
• 0:17
  changing
• 0:18
  and
• 0:19
  you
• 0:19
  might
• 0:19
  need
• 0:19
  to
• 0:19
  do
• 0:19
  something
• 0:20
  different
• 0:20
  to
• 0:21
  make
• 0:21
  the
• 0:21
  most
• 0:22
  of
• 0:22
  it.
• 0:22
  The
• 0:23
  amount
• 0:23
  you,
• 0:24
  your
• 0:24
  boss
• 0:25
  and
• 0:26
  the
• 0:26
  government
• 0:26
  put
• 0:27
  into
• 0:27
  it
• 0:27
  all
• 0:28
  changing,
• 0:29
  as
• 0:29
  well
• 0:29
  as
• 0:29
  some
• 0:29
  of
• 0:29
  the
• 0:30
  age
• 0:30
  restrictions
• 0:31
  or
• 0:31
  how
• 0:32
  the
• 0:32
  rules
• 0:32
  apply
• 0:32
  depending
• 0:33
  on
• 0:33
  how
• 0:33
  much
• 0:34
  you
• 0:34
  earn.
• 0:35
  Which
• 0:35
  is
• 0:35
  exactly
• 0:36
  what
• 0:36
  today's
• 0:36
  letter
• 0:37
  writer
• 0:37
  is
• 0:37
  worried
• 0:37
  about.
• 0:37
  And
• 0:38
  fair
• 0:38
  enough
• 0:39
  to
• 0:39
  a
• 0:40
  few
• 0:40
  little
• 0:40
  tweaks
• 0:41
  in
• 0:41
  how
• 0:41
  you
• 0:42
  handle
• 0:42
  your
• 0:42
  kiwisaver
• 0:43
  can
• 0:43
  genuinely
• 0:44
  be
• 0:44
  a
• 0:44
  difference
• 0:45
  of
• 0:45
  hundreds
• 0:46
  of
• 0:46
  thousands
• 0:46
  of
• 0:46
  dollars.
• 0:47
  So
• 0:48
  time
• 0:48
  to
• 0:48
  figure
• 0:49
  this
• 0:49
  out.
• 0:49
  Get
• 0:50
  it
• 0:50
  all
• 0:50
  running
• 0:51
  smoothly
• 0:51
  in
• 0:51
  the
• 0:51
  background
• 0:52
  so
• 0:52
  that
• 0:52
  you
• 0:53
  can
• 0:53
  go
• 0:53
  back
• 0:53
  to
• 0:53
  living
• 0:54
  your
• 0:54
  life
• 0:54
  while
• 0:54
  your
• 0:55
  money
• 0:55
  is
• 0:55
  working
• 0:55
  hard
• 0:56
  without
• 0:57
  you
• 0:57
  worrying
• 0:57
  about
• 0:58
  it.
• 0:58
  So
• 0:59
  welcome
• 0:59
  to
• 0:59
  Ask
• 0:59
  the
• 1:00
  Experts
• 1:00
  where
• 1:00
  each
• 1:01
  week
• 1:01
  people
• 1:01
  working
• 1:01
  in
• 1:02
  the
• 1:02
  money
• 1:02
  world
• 1:02
  answer
• 1:03
  your
• 1:03
  questions.
• 1:04
  To
• 1:04
  get
• 1:05
  you
• 1:05
  the
• 1:05
  answers
• 1:05
  you
• 1:06
  need.
• 1:06
  Right
• 1:07
  now,
• 1:07
  Making
• 1:08
  Sense
• 1:08
  has
• 1:08
  partnered
• 1:09
  up
• 1:09
  with
• 1:09
  Enable
• 1:10
  Me
• 1:10
  to
• 1:10
  get
• 1:10
  you
• 1:11
  the
• 1:11
  strategies
• 1:11
  for
• 1:11
  reaching
• 1:12
  financial
• 1:12
  freedom
• 1:13
  faster.
• 1:14
  Head
• 1:14
  to
• 1:14
  their
• 1:14
  website
• 1:15
  to
• 1:15
  learn
• 1:15
  more,
• 1:16
  visit
• 1:16
  Enable
• 1:17
  Me
• 1:17
  today.
• 1:18
  All
• 1:19
  right,
• 1:19
  in
• 1:19
  the
• 1:19
  hot
• 1:19
  seat,
• 1:19
  Kristen
• 1:20
  Sutherland,
• 1:20
  financial
• 1:21
  advisor
• 1:21
  from
• 1:22
  Enable
• 1:22
  Me.
• 1:22
  Ready
• 1:22
  for
• 1:22
  the
• 1:23
  letter?
• 1:24
  Ready.
• 1:24
  Here
• 1:24
  we
• 1:25
  go.
• 1:25
  All
• 1:25
  right.
• 1:26
  Hi
• 1:26
  Frances,
• 1:27
  I'm
• 1:27
  hoping
• 1:28
  you
• 1:28
  might
• 1:28
  be
• 1:28
  able
• 1:28
  to
• 1:29
  untangle
• 1:29
  something
• 1:29
  for
• 1:29
  me
• 1:30
  because
• 1:30
  I'm
• 1:30
  feeling
• 1:31
  lost
• 1:31
  with
• 1:31
  all
• 1:31
  the
• 1:31
  kiwisaver
• 1:32
  changes
• 1:32
  being
• 1:33
  talked
• 1:33
  about.
• 1:34
  I
• 1:34
  keep
• 1:34
  seeing
• 1:35
  headlines
• 1:35
  about
• 1:36
  contribution
• 1:36
  rates
• 1:37
  going
• 1:37
  up,
• 1:38
  changes
• 1:38
  to
• 1:38
  the
• 1:38
  government
• 1:39
  contribution,
• 1:40
  and
• 1:40
  new
• 1:40
  rules
• 1:41
  around
• 1:41
  opting
• 1:42
  down.
• 1:42
  I'm
• 1:43
  just
• 1:43
  confused.
• 1:44
  On
• 1:44
  paper,
• 1:45
  higher
• 1:45
  contributions
• 1:46
  sound
• 1:46
  like
• 1:46
  a
• 1:47
  good
• 1:47
  thing.
• 1:48
  I
• 1:48
  get
• 1:48
  that
• 1:48
  the
• 1:48
  goal
• 1:49
  is
• 1:49
  to
• 1:49
  help
• 1:49
  people
• 1:49
  save
• 1:50
  more
• 1:50
  for
• 1:50
  retirement,
• 1:51
  but
• 1:51
  but
• 1:51
  in
• 1:51
  real
• 1:52
  life,
• 1:52
  with
• 1:52
  the
• 1:52
  cost
• 1:53
  of
• 1:53
  living
• 1:53
  already
• 1:54
  feeling
• 1:54
  tight,
• 1:55
  I'm
• 1:55
  not
• 1:55
  sure
• 1:55
  what
• 1:56
  this
• 1:56
  actually
• 1:56
  means
• 1:57
  for
• 1:57
  my
• 1:57
  take
• 1:57
  home
• 1:58
  pay,
• 1:58
  or
• 1:59
  whether
• 1:59
  I
• 1:59
  should
• 1:59
  be
• 1:59
  doing
• 2:00
  something
• 2:00
  proactive
• 2:01
  before
• 2:01
  these
• 2:02
  changes
• 2:02
  kick
• 2:02
  in.
• 2:03
  I'm
• 2:03
  also
• 2:04
  unsure
• 2:04
  how
• 2:05
  the
• 2:05
  changes
• 2:05
  affect
• 2:05
  people
• 2:06
  on
• 2:06
  different
• 2:06
  incomes.
• 2:07
  I've
• 2:08
  read
• 2:08
  that
• 2:08
  higher
• 2:08
  earners
• 2:09
  won't
• 2:09
  get
• 2:09
  the
• 2:10
  government
• 2:10
  contribution
• 2:10
  anymore
• 2:11
  and
• 2:11
  that
• 2:12
  for
• 2:12
  some
• 2:12
  people
• 2:12
  the
• 2:13
  employer
• 2:13
  increase
• 2:14
  might
• 2:14
  just
• 2:14
  come
• 2:14
  out
• 2:15
  of
• 2:15
  their
• 2:15
  total
• 2:15
  pay
• 2:16
  anyway,
• 2:17
  which
• 2:17
  makes
• 2:17
  it
• 2:17
  hard
• 2:17
  to
• 2:17
  tell
• 2:18
  whether
• 2:18
  it's
• 2:18
  actually
• 2:19
  a
• 2:19
  boost
• 2:20
  or
• 2:20
  just
• 2:20
  a
• 2:20
  reshuffle.
• 2:22
  Basically,
• 2:22
  I
• 2:23
  don't
• 2:23
  know
• 2:23
  whether
• 2:24
  I
• 2:24
  should
• 2:24
  just
• 2:25
  let
• 2:25
  the
• 2:25
  default
• 2:25
  changes
• 2:26
  happen,
• 2:26
  actively
• 2:27
  opt
• 2:27
  down
• 2:28
  when
• 2:28
  the
• 2:28
  rates
• 2:28
  increase,
• 2:29
  or
• 2:29
  be
• 2:30
  changing
• 2:30
  my
• 2:30
  KiwiSaver
• 2:31
  strategy
• 2:31
  entirely
• 2:32
  to
• 2:32
  make
• 2:33
  the
• 2:33
  most
• 2:33
  of
• 2:33
  what's
• 2:33
  coming.
• 2:34
  I
• 2:34
  don't
• 2:35
  want
• 2:35
  to
• 2:35
  accidentally
• 2:35
  make
• 2:36
  a
• 2:36
  bad
• 2:36
  decision
• 2:36
  through
• 2:37
  an
• 2:37
  action,
• 2:37
  but
• 2:38
  I
• 2:38
  also
• 2:38
  don't
• 2:39
  Want
• 2:39
  to
• 2:39
  overthink
• 2:40
  it
• 2:40
  and
• 2:40
  make
• 2:41
  changes
• 2:41
  that
• 2:41
  don't
• 2:42
  really
• 2:42
  help
• 2:42
  in
• 2:43
  the
• 2:43
  long
• 2:43
  run.
• 2:44
  Thanks
• 2:44
  so
• 2:44
  much
• 2:44
  for
• 2:44
  all
• 2:45
  the
• 2:45
  work
• 2:45
  you
• 2:45
  do.
• 2:45
  It
• 2:46
  really
• 2:46
  does
• 2:46
  make
• 2:46
  this
• 2:46
  stuff
• 2:47
  feel
• 2:47
  more
• 2:47
  manageable.
• 2:49
  Okay.
• 2:50
  A
• 2:50
  lot
• 2:50
  of
• 2:50
  stress
• 2:50
  in
• 2:51
  this
• 2:51
  letter.
• 2:52
  Yes.
• 2:53
  A
• 2:53
  little
• 2:53
  bit
• 2:53
  of
• 2:53
  panic,
• 2:54
  a
• 2:54
  little
• 2:54
  panicky,
• 2:56
  but
• 2:56
  I
• 2:56
  get
• 2:56
  it
• 2:56
  right,
• 2:57
  because
• 2:57
  Kiwisaver
• 2:57
  is
• 2:58
  so
• 2:58
  important
• 2:58
  to
• 2:59
  people.
• 3:00
  So
• 3:01
  let's
• 3:01
  start
• 3:01
  by
• 3:02
  laying
• 3:02
  out
• 3:03
  the
• 3:03
  changes.
• 3:04
  What's
• 3:04
  actually
• 3:05
  changing
• 3:06
  this
• 3:06
  year?
• 3:07
  So
• 3:07
  we've
• 3:07
  already
• 3:07
  had
• 3:07
  some
• 3:08
  changes
• 3:08
  come
• 3:08
  in.
• 3:08
  So
• 3:09
  the
• 3:09
  changes
• 3:09
  that
• 3:09
  we've
• 3:10
  had
• 3:10
  already
• 3:10
  are
• 3:11
  the
• 3:11
  government
• 3:11
  contribution.
• 3:12
  So
• 3:12
  that's
• 3:12
  the
• 3:13
  amount
• 3:13
  the
• 3:13
  government
• 3:13
  gives
• 3:14
  us
• 3:14
  per
• 3:14
  year.
• 3:14
  If
• 3:14
  we're
• 3:15
  contributing
• 3:16
  to
• 3:16
  Kiwisaver,
• 3:16
  it
• 3:17
  has
• 3:17
  reduced.
• 3:17
  So
• 3:18
  it's
• 3:18
  gone
• 3:18
  from
• 3:18
  520
• 3:19
  to
• 3:19
  260.
• 3:20
  Been
• 3:20
  a
• 3:20
  lot
• 3:21
  of
• 3:21
  talk
• 3:21
  around
• 3:21
  that.
• 3:21
  Let's
• 3:22
  just
• 3:22
  park
• 3:22
  that
• 3:22
  for
• 3:22
  the
• 3:22
  moment.
• 3:23
  We
• 3:23
  already
• 3:23
  know
• 3:23
  I
• 3:23
  don't
• 3:23
  like
• 3:24
  that.
• 3:24
  But
• 3:24
  it's
• 3:24
  happening,
• 3:25
  so
• 3:25
  it's
• 3:26
  happened.
• 3:26
  We
• 3:26
  just
• 3:26
  had
• 3:26
  to
• 3:27
  accept
• 3:27
  that
• 3:27
  it's
• 3:27
  happened
• 3:28
  and
• 3:28
  not
• 3:29
  make
• 3:29
  too
• 3:29
  big
• 3:30
  a
• 3:30
  deal
• 3:30
  because
• 3:30
  it
• 3:31
  is
• 3:31
  a
• 3:31
  change.
• 3:32
  But
• 3:32
  there's
• 3:32
  other
• 3:33
  changes
• 3:33
  that
• 3:33
  are
• 3:33
  happening
• 3:34
  that
• 3:34
  also
• 3:34
  counterbalance
• 3:35
  that
• 3:36
  to
• 3:36
  a
• 3:36
  point
• 3:36
  as
• 3:36
  well.
• 3:37
  The
• 3:37
  other
• 3:37
  change
• 3:38
  is
• 3:38
  that
• 3:38
  high
• 3:38
  income
• 3:39
  owners,
• 3:39
  Those
• 3:40
  owning
• 3:40
  over
• 3:40
  180,000
• 3:41
  gross,
• 3:42
  so
• 3:42
  from
• 3:42
  all
• 3:43
  our
• 3:43
  income
• 3:43
  sources
• 3:44
  they're
• 3:44
  losing
• 3:45
  the
• 3:45
  government
• 3:45
  contribution.
• 3:46
  So
• 3:47
  sort
• 3:47
  of
• 3:47
  in
• 3:47
  my
• 3:47
  mind
• 3:47
  it's
• 3:48
  unfortunate,
• 3:48
  but
• 3:49
  it
• 3:49
  is,
• 3:49
  you
• 3:50
  know,
• 3:50
  a
• 3:50
  government
• 3:50
  trying
• 3:50
  to
• 3:51
  control
• 3:51
  spending.
• 3:52
  So
• 3:52
  the
• 3:52
  other
• 3:53
  change
• 3:53
  is
• 3:53
  that
• 3:53
  16
• 3:54
  and
• 3:54
  17
• 3:54
  year
• 3:55
  olds
• 3:55
  are
• 3:55
  now
• 3:55
  eligible
• 3:56
  for
• 3:56
  the
• 3:56
  government
• 3:56
  contribution.
• 3:57
  Now
• 3:57
  I
• 3:58
  love
• 3:58
  this.
• 3:58
  Yes,
• 3:59
  love
• 3:59
  this
• 4:00
  because
• 4:00
  we've
• 4:00
  talked
• 4:01
  a
• 4:01
  lot
• 4:01
  in
• 4:02
  the
• 4:02
  past
• 4:02
  about,
• 4:03
  you
• 4:03
  know,
• 4:03
  making
• 4:03
  sure
• 4:04
  we
• 4:04
  start
• 4:04
  early.
• 4:05
  So
• 4:05
  the
• 4:05
  earlier
• 4:05
  we
• 4:06
  start
• 4:06
  saving
• 4:06
  the
• 4:07
  better.
• 4:07
  So
• 4:07
  it
• 4:08
  might
• 4:08
  seem
• 4:08
  like
• 4:08
  a
• 4:08
  little
• 4:09
  amount
• 4:09
  of
• 4:09
  money,
• 4:09
  but
• 4:09
  $260
• 4:11
  compounded
• 4:12
  over,
• 4:13
  you
• 4:13
  know,
• 4:13
  we
• 4:13
  might
• 4:14
  be
• 4:14
  40
• 4:14
  years
• 4:15
  till
• 4:15
  we
• 4:15
  retire
• 4:16
  is
• 4:16
  going
• 4:16
  to
• 4:16
  make
• 4:16
  a
• 4:17
  difference.
• 4:17
  So
• 4:17
  I
• 4:17
  really
• 4:17
  love
• 4:18
  that
• 4:18
  one.
• 4:18
  So
• 4:18
  from
• 4:19
  the
• 4:19
  first
• 4:19
  of
• 4:19
  February,
• 4:20
  so
• 4:20
  we're
• 4:20
  already
• 4:21
  past
• 4:21
  that,
• 4:21
  people
• 4:22
  have
• 4:22
  got
• 4:22
  the
• 4:22
  option
• 4:23
  to
• 4:23
  what's
• 4:23
  called
• 4:23
  opt
• 4:24
  down.
• 4:25
  So
• 4:25
  I'll
• 4:25
  come
• 4:25
  back
• 4:25
  to
• 4:25
  that
• 4:26
  because
• 4:26
  we'll
• 4:26
  talk
• 4:26
  about
• 4:27
  what
• 4:27
  that
• 4:27
  is.
• 4:27
  But
• 4:28
  from
• 4:28
  the
• 4:28
  1st
• 4:28
  of
• 4:28
  April
• 4:29
  this
• 4:29
  year,
• 4:30
  the
• 4:30
  minimum
• 4:31
  contribution
• 4:32
  to
• 4:32
  Kiwisaver,
• 4:33
  so
• 4:33
  that
• 4:33
  default
• 4:33
  rate
• 4:34
  is
• 4:34
  changing
• 4:35
  from
• 4:35
  3
• 4:36
  to
• 4:36
  3.5%.
• 4:38
  So
• 4:38
  I
• 4:38
  like
• 4:39
  that.
• 4:39
  I
• 4:40
  know
• 4:40
  it's
• 4:40
  hard
• 4:41
  for
• 4:41
  some
• 4:41
  people
• 4:41
  in
• 4:42
  terms
• 4:42
  of
• 4:42
  cash
• 4:42
  flow,
• 4:42
  but
• 4:43
  I
• 4:43
  like
• 4:43
  that
• 4:43
  it's
• 4:44
  trying
• 4:44
  to
• 4:44
  increase
• 4:45
  our
• 4:45
  enforced
• 4:46
  savings
• 4:46
  and
• 4:46
  there
• 4:46
  is
• 4:46
  some
• 4:47
  options
• 4:47
  to
• 4:47
  opt
• 4:47
  out.
• 4:48
  Then
• 4:48
  on
• 4:49
  the
• 4:49
  1st
• 4:49
  of
• 4:49
  April,
• 4:50
  2028
• 4:51
  we're
• 4:51
  going
• 4:51
  to
• 4:51
  get
• 4:52
  that
• 4:52
  default
• 4:52
  rate
• 4:53
  increase
• 4:53
  again
• 4:54
  from
• 4:54
  3.5%
• 4:55
  to
• 4:55
  4%.
• 4:57
  So
• 4:57
  that's
• 4:57
  the
• 4:57
  sort
• 4:58
  of
• 4:58
  changes
• 4:58
  summarized
• 4:59
  so
• 4:59
  we
• 4:59
  can
• 5:00
  break
• 5:00
  down
• 5:00
  what
• 5:00
  they
• 5:01
  look
• 5:01
  like.
• 5:01
  But
• 5:01
  what
• 5:01
  I
• 5:01
  want
• 5:02
  people
• 5:02
  to
• 5:02
  really
• 5:02
  take
• 5:03
  away
• 5:03
  is
• 5:03
  don't
• 5:04
  panic.
• 5:04
  You
• 5:04
  know,
• 5:05
  they
• 5:05
  are
• 5:06
  for
• 5:06
  a
• 5:07
  lot
• 5:07
  of
• 5:07
  people
• 5:07
  going
• 5:07
  to
• 5:08
  be
• 5:08
  quite
• 5:08
  beneficial
• 5:08
  changes.
• 5:09
  And
• 5:09
  there
• 5:09
  is
• 5:10
  some
• 5:10
  options.
• 5:11
  If
• 5:11
  we
• 5:11
  really
• 5:12
  can't
• 5:12
  handle
• 5:12
  the
• 5:13
  cash
• 5:13
  flow
• 5:13
  change
• 5:13
  for
• 5:14
  people,
• 5:14
  there's
• 5:15
  some
• 5:15
  options
• 5:15
  to
• 5:15
  opt
• 5:16
  out
• 5:16
  of
• 5:16
  them
• 5:16
  for
• 5:17
  a
• 5:17
  period
• 5:17
  of
• 5:17
  time.
• 5:18
  But
• 5:18
  what
• 5:18
  I
• 5:18
  want
• 5:18
  people
• 5:19
  to
• 5:19
  know
• 5:19
  is
• 5:19
  don't
• 5:20
  panic,
• 5:21
  come
• 5:21
  up
• 5:21
  with
• 5:21
  a
• 5:21
  plan.
• 5:22
  Instead
• 5:22
  of
• 5:22
  panicking,
• 5:23
  we're
• 5:23
  going
• 5:23
  to
• 5:23
  plan,
• 5:24
  we're
• 5:24
  going
• 5:25
  to
• 5:25
  look
• 5:25
  at
• 5:25
  understanding
• 5:26
  what
• 5:26
  our
• 5:27
  current
• 5:27
  Kiwi
• 5:27
  Saver
• 5:28
  is,
• 5:28
  if
• 5:28
  we're
• 5:28
  contributing
• 5:29
  and
• 5:29
  how
• 5:30
  it's
• 5:30
  assessed.
• 5:31
  So
• 5:31
  the
• 5:31
  big
• 5:32
  one
• 5:32
  on
• 5:32
  this
• 5:32
  one
• 5:32
  is
• 5:33
  how
• 5:33
  is
• 5:33
  your
• 5:33
  kiwisaver
• 5:34
  paid?
• 5:35
  Is
• 5:35
  it
• 5:35
  included
• 5:36
  in
• 5:36
  your
• 5:37
  income?
• 5:37
  So
• 5:38
  do
• 5:38
  you
• 5:38
  have
• 5:38
  an
• 5:38
  overall
• 5:39
  package
• 5:39
  of
• 5:40
  income?
• 5:40
  Were
• 5:41
  your
• 5:41
  kiwisavers
• 5:42
  included
• 5:42
  in
• 5:42
  that
• 5:43
  or
• 5:44
  do
• 5:44
  you,
• 5:44
  is
• 5:45
  it
• 5:45
  on
• 5:45
  top
• 5:45
  of.
• 5:46
  So
• 5:46
  that's
• 5:46
  going
• 5:46
  to
• 5:46
  make
• 5:46
  a
• 5:47
  difference
• 5:47
  how
• 5:48
  you're
• 5:48
  going
• 5:48
  to
• 5:48
  plan
• 5:48
  for
• 5:49
  this.
• 5:49
  So
• 5:49
  really
• 5:49
  knowing
• 5:50
  what
• 5:50
  you're
• 5:50
  currently
• 5:51
  doing,
• 5:52
  have
• 5:52
  a
• 5:52
  plan
• 5:52
  for
• 5:53
  going
• 5:53
  forward
• 5:53
  and
• 5:54
  then
• 5:54
  we
• 5:54
  can
• 5:54
  really
• 5:55
  look
• 5:55
  at
• 5:55
  what
• 5:55
  these
• 5:56
  changes
• 5:56
  mean
• 5:56
  for
• 5:56
  you?
• 5:57
  Yeah,
• 5:57
  yeah,
• 5:58
  100%.
• 5:58
  Because
• 5:59
  we
• 5:59
  were
• 5:59
  just
• 5:59
  having
• 6:00
  a
• 6:00
  wee
• 6:00
  chat
• 6:00
  before
• 6:00
  we
• 6:00
  started
• 6:01
  recording.
• 6:01
  I
• 6:01
  looked
• 6:02
  it
• 6:02
  up.
• 6:02
  So
• 6:02
  fresh
• 6:02
  set
• 6:03
  with
• 6:04
  what
• 6:04
  they
• 6:04
  call
• 6:04
  total
• 6:05
  remuneration,
• 6:06
  which
• 6:06
  is
• 6:07
  all
• 6:08
  of
• 6:08
  your
• 6:08
  pay
• 6:10
  is
• 6:10
  one
• 6:10
  way
• 6:11
  that
• 6:11
  employers
• 6:12
  will
• 6:12
  pay
• 6:13
  some
• 6:13
  people.
• 6:14
  So
• 6:14
  if
• 6:14
  they're
• 6:14
  talking
• 6:15
  total
• 6:16
  remuneration
• 6:16
  package,
• 6:17
  then
• 6:17
  when
• 6:17
  they
• 6:18
  say,
• 6:18
  oh
• 6:18
  you're
• 6:18
  paid
• 6:19
  60,000,
• 6:20
  that
• 6:21
  includes
• 6:21
  everything
• 6:22
  we're
• 6:22
  putting
• 6:22
  into
• 6:22
  kiwisaver.
• 6:23
  So
• 6:23
  that's
• 6:24
  not
• 6:24
  what
• 6:24
  you're
• 6:24
  getting
• 6:24
  in
• 6:24
  the
• 6:24
  hand
• 6:25
  before
• 6:26
  even
• 6:26
  thinking
• 6:26
  about
• 6:26
  tax
• 6:26
  and
• 6:27
  things
• 6:27
  as
• 6:27
  well.
• 6:29
  And
• 6:29
  45%
• 6:30
  roughly
• 6:30
  of
• 6:31
  new
• 6:31
  Zealanders
• 6:31
  are
• 6:32
  on
• 6:32
  that
• 6:32
  total
• 6:32
  remuneration
• 6:33
  for
• 6:33
  their
• 6:33
  Kiwi
• 6:34
  Saver.
• 6:34
  So
• 6:34
  that's
• 6:34
  actually
• 6:34
  a
• 6:35
  really
• 6:35
  big
• 6:35
  deal
• 6:36
  when
• 6:36
  we're
• 6:36
  changing
• 6:38
  how
• 6:38
  much
• 6:39
  you
• 6:39
  put
• 6:39
  in
• 6:39
  and
• 6:39
  also
• 6:40
  how
• 6:40
  much
• 6:40
  your
• 6:40
  employer
• 6:41
  puts
• 6:41
  in,
• 6:42
  this
• 6:43
  could
• 6:43
  end
• 6:44
  up
• 6:44
  having
• 6:44
  a,
• 6:45
  well
• 6:45
  for
• 6:45
  some
• 6:45
  people
• 6:46
  a
• 6:46
  significant
• 6:46
  impact
• 6:47
  on
• 6:47
  their
• 6:48
  take
• 6:48
  home
• 6:49
  pay.
• 6:49
  Right.
• 6:50
  How
• 6:50
  do
• 6:50
  you,
• 6:51
  how
• 6:51
  do
• 6:51
  you
• 6:52
  balance
• 6:52
  that?
• 6:52
  Doing
• 6:53
  the
• 6:53
  calculation
• 6:53
  is
• 6:54
  important.
• 6:54
  So
• 6:54
  again
• 6:55
  this
• 6:55
  comes
• 6:56
  down
• 6:56
  to
• 6:57
  us
• 6:57
  knowing
• 6:58
  what
• 6:58
  we
• 6:59
  need
• 6:59
  to
• 6:59
  live
• 7:00
  and
• 7:00
  what
• 7:01
  impact
• 7:01
  this
• 7:01
  is
• 7:02
  going
• 7:02
  to
• 7:02
  have
• 7:02
  and
• 7:03
  can
• 7:03
  we
• 7:03
  afford
• 7:03
  it.
• 7:04
  So
• 7:04
  what
• 7:04
  I
• 7:04
  don't
• 7:04
  want
• 7:05
  people
• 7:05
  to
• 7:05
  automatically
• 7:06
  do
• 7:06
  is
• 7:07
  I
• 7:07
  talked
• 7:07
  around
• 7:07
  this
• 7:08
  opt
• 7:08
  down
• 7:08
  option.
• 7:09
  So
• 7:09
  from
• 7:09
  the
• 7:09
  1st
• 7:09
  of
• 7:10
  February
• 7:10
  you
• 7:11
  can
• 7:11
  go
• 7:11
  and
• 7:11
  do
• 7:11
  it
• 7:11
  now
• 7:12
  actually
• 7:12
  you
• 7:12
  can
• 7:12
  go
• 7:12
  onto
• 7:13
  the
• 7:13
  IR
• 7:13
  website.
• 7:14
  I
• 7:14
  tried
• 7:14
  it
• 7:14
  last
• 7:15
  night
• 7:15
  just
• 7:15
  to
• 7:15
  see,
• 7:15
  oh,
• 7:16
  is
• 7:16
  it
• 7:16
  easy
• 7:16
  to
• 7:16
  do?
• 7:16
  And
• 7:17
  it
• 7:17
  actually
• 7:17
  is
• 7:17
  quite
• 7:17
  easy.
• 7:18
  So
• 7:18
  you
• 7:18
  go
• 7:18
  in
• 7:18
  and
• 7:18
  you
• 7:18
  can
• 7:19
  say,
• 7:19
  I'm
• 7:19
  going
• 7:20
  to
• 7:20
  opt
• 7:20
  down.
• 7:21
  So
• 7:21
  I'm
• 7:21
  not
• 7:21
  going
• 7:21
  to
• 7:22
  increase
• 7:22
  my
• 7:22
  Compulsory
• 7:23
  contribution
• 7:24
  from
• 7:24
  3
• 7:25
  to
• 7:25
  3.5.
• 7:26
  I'm
• 7:26
  gonna
• 7:26
  stay
• 7:26
  at
• 7:27
  3.
• 7:27
  You
• 7:28
  can
• 7:28
  choose
• 7:28
  to
• 7:28
  do
• 7:29
  for
• 7:29
  3
• 7:29
  to
• 7:29
  12
• 7:30
  months
• 7:30
  and
• 7:30
  you
• 7:30
  can
• 7:31
  actually
• 7:31
  renew
• 7:31
  that
• 7:31
  option
• 7:32
  as
• 7:32
  often
• 7:33
  as
• 7:33
  you
• 7:33
  need
• 7:34
  to.
• 7:34
  I
• 7:34
  like
• 7:34
  to
• 7:35
  say
• 7:35
  need
• 7:35
  to
• 7:35
  as
• 7:35
  opposed
• 7:35
  to
• 7:36
  want
• 7:36
  to
• 7:36
  because
• 7:36
  I
• 7:37
  don't
• 7:37
  want
• 7:37
  people
• 7:37
  doing
• 7:38
  this
• 7:38
  if
• 7:38
  they
• 7:38
  don't
• 7:38
  have
• 7:39
  to.
• 7:39
  Because
• 7:39
  the
• 7:40
  knock
• 7:40
  on
• 7:40
  effect
• 7:41
  is
• 7:42
  you're
• 7:42
  not
• 7:42
  putting
• 7:42
  that
• 7:43
  extra
• 7:43
  0.5%
• 7:44
  in,
• 7:45
  nor
• 7:45
  is
• 7:46
  your
• 7:46
  employer
• 7:46
  because
• 7:47
  your
• 7:47
  employer
• 7:47
  then
• 7:48
  has
• 7:48
  the
• 7:48
  option
• 7:48
  to
• 7:48
  opt
• 7:49
  down
• 7:50
  as
• 7:50
  well.
• 7:50
  So
• 7:51
  we're
• 7:51
  losing
• 7:51
  that
• 7:52
  benefit
• 7:52
  that
• 7:53
  could
• 7:53
  be
• 7:53
  coming
• 7:54
  and
• 7:54
  that
• 7:54
  benefit's
• 7:55
  offsetting
• 7:55
  our
• 7:55
  loss
• 7:55
  of
• 7:56
  government
• 7:56
  contribution.
• 7:57
  So
• 7:57
  on
• 7:57
  a
• 7:58
  minimum
• 7:59
  wage
• 8:00
  we're
• 8:00
  losing
• 8:01
  the
• 8:01
  260
• 8:01
  government
• 8:02
  contribution,
• 8:03
  but
• 8:03
  if
• 8:03
  we
• 8:04
  do
• 8:04
  the
• 8:04
  0.5
• 8:05
  increase,
• 8:06
  we're
• 8:06
  actually
• 8:07
  getting
• 8:07
  that
• 8:07
  back
• 8:08
  in
• 8:08
  terms
• 8:08
  of
• 8:09
  the
• 8:09
  contribution
• 8:09
  we
• 8:09
  get
• 8:10
  from
• 8:10
  our
• 8:10
  employer,
• 8:10
  it's
• 8:11
  $244
• 8:12
  as
• 8:12
  opposed
• 8:12
  to
• 8:12
  260.
• 8:13
  So
• 8:13
  it's
• 8:13
  very
• 8:13
  close.
• 8:14
  But
• 8:14
  that's
• 8:15
  only
• 8:15
  if
• 8:15
  we
• 8:16
  say
• 8:16
  yes,
• 8:16
  we're
• 8:17
  going
• 8:17
  to
• 8:17
  do
• 8:17
  that.
• 8:18
  So
• 8:18
  we
• 8:18
  need
• 8:18
  to
• 8:18
  do
• 8:19
  something,
• 8:19
  you
• 8:19
  know,
• 8:19
  we
• 8:19
  need
• 8:19
  to
• 8:20
  let
• 8:20
  that.
• 8:20
  And
• 8:21
  that,
• 8:21
  you
• 8:21
  know,
• 8:21
  the
• 8:21
  listener
• 8:22
  was
• 8:22
  talking
• 8:22
  about
• 8:22
  the
• 8:23
  default.
• 8:23
  We
• 8:23
  need
• 8:23
  to
• 8:23
  let
• 8:24
  that
• 8:24
  default
• 8:24
  happen.
• 8:25
  So,
• 8:25
  so
• 8:25
  that
• 8:25
  we
• 8:25
  get
• 8:25
  to
• 8:26
  that
• 8:26
  increase
• 8:26
  the
• 8:27
  difference
• 8:27
  for
• 8:28
  a
• 8:28
  minimum
• 8:29
  wage
• 8:30
  earner
• 8:30
  for
• 8:30
  this
• 8:31
  if
• 8:31
  they've
• 8:32
  got
• 8:32
  an
• 8:33
  inclusive
• 8:33
  salary.
• 8:34
  So
• 8:34
  you
• 8:34
  know,
• 8:34
  if
• 8:34
  it's
• 8:35
  all
• 8:35
  inclusive
• 8:36
  is
• 8:36
  $4.70
• 8:37
  a
• 8:37
  week.
• 8:37
  So
• 8:38
  it's
• 8:38
  $4.70
• 8:39
  a
• 8:39
  week
• 8:39
  difference.
• 8:40
  Having
• 8:40
  a
• 8:41
  look,
• 8:41
  can
• 8:41
  we
• 8:41
  afford
• 8:41
  that?
• 8:42
  I'm
• 8:42
  not
• 8:42
  saying
• 8:42
  that's
• 8:42
  insignificant
• 8:43
  for
• 8:43
  some
• 8:44
  people,
• 8:44
  you
• 8:44
  know,
• 8:44
  that
• 8:44
  is
• 8:45
  some
• 8:45
  groceries.
• 8:45
  So
• 8:46
  you
• 8:46
  know,
• 8:46
  it's
• 8:46
  not
• 8:46
  an
• 8:46
  insignificant.
• 8:47
  But
• 8:47
  if
• 8:47
  we
• 8:48
  can
• 8:48
  do
• 8:48
  it
• 8:48
  long
• 8:49
  term,
• 8:49
  those
• 8:50
  long
• 8:50
  term
• 8:50
  benefits
• 8:51
  far
• 8:51
  outweigh
• 8:52
  the
• 8:52
  $4.70
• 8:53
  a
• 8:53
  week.
• 8:54
  Because
• 8:54
  if
• 8:54
  we
• 8:54
  extract
• 8:55
  that
• 8:55
  out
• 8:55
  to
• 8:56
  say
• 8:56
  if
• 8:56
  we
• 8:56
  did
• 8:56
  it
• 8:57
  like
• 8:57
  if
• 8:57
  we
• 8:57
  did
• 8:58
  the
• 8:58
  $4.70
• 8:59
  a
• 8:59
  week
• 8:59
  and
• 9:00
  we
• 9:00
  did
• 9:00
  it
• 9:00
  for
• 9:00
  20
• 9:01
  years,
• 9:02
  it
• 9:02
  makes
• 9:02
  a
• 9:02
  $16,000
• 9:03
  difference
• 9:04
  to
• 9:04
  where
• 9:04
  our
• 9:04
  kiwisaver
• 9:05
  ends
• 9:05
  up.
• 9:06
  So
• 9:06
  again,
• 9:06
  weighing
• 9:07
  up
• 9:07
  $4.70
• 9:08
  weekly,
• 9:09
  it's
• 9:09
  a
• 9:09
  sacrifice.
• 9:10
  As
• 9:10
  opposed
• 9:11
  to
• 9:11
  16,000
• 9:12
  in
• 9:12
  retirement
• 9:12
  or
• 9:13
  for
• 9:13
  my
• 9:13
  first
• 9:13
  home
• 9:14
  or
• 9:14
  in
• 9:14
  situations
• 9:15
  of
• 9:15
  financial
• 9:15
  hardship
• 9:16
  when
• 9:16
  I
• 9:16
  can
• 9:16
  use
• 9:16
  my
• 9:17
  kiwisaver.
• 9:18
  That's
• 9:18
  significant.
• 9:19
  So
• 9:20
  please
• 9:20
  just
• 9:20
  don't
• 9:21
  panic,
• 9:21
  have
• 9:21
  a
• 9:22
  plan,
• 9:22
  know
• 9:22
  what
• 9:23
  the
• 9:23
  difference
• 9:23
  is
• 9:23
  going
• 9:23
  to
• 9:24
  be
• 9:24
  and
• 9:25
  make
• 9:25
  the
• 9:25
  change
• 9:26
  consciously.
• 9:28
  Not
• 9:28
  so.
• 9:28
  Fun
• 9:28
  fact.
• 9:29
  When
• 9:29
  you
• 9:29
  take
• 9:30
  on
• 9:30
  a
• 9:30
  30
• 9:30
  year
• 9:31
  mortgage,
• 9:31
  you'll
• 9:32
  probably
• 9:32
  pay
• 9:33
  more
• 9:33
  than
• 9:33
  double
• 9:33
  what
• 9:34
  you
• 9:34
  originally
• 9:34
  borrowed
• 9:35
  because
• 9:36
  of
• 9:36
  the
• 9:36
  cost
• 9:36
  of
• 9:36
  interest.
• 9:37
  That's
• 9:38
  probably
• 9:38
  not
• 9:39
  the
• 9:39
  Kiwi
• 9:39
  dream.
• 9:40
  You
• 9:40
  bought
• 9:40
  into
• 9:41
  the
• 9:41
  team
• 9:41
  at
• 9:42
  EnableMe.
• 9:42
  Specialise
• 9:43
  in
• 9:43
  taking
• 9:44
  charge
• 9:44
  of
• 9:44
  your
• 9:44
  money
• 9:45
  and
• 9:45
  growing
• 9:45
  your
• 9:46
  wealth,
• 9:46
  including
• 9:47
  how
• 9:47
  to
• 9:47
  get
• 9:48
  rid
• 9:48
  of
• 9:48
  your
• 9:48
  mortgage
• 9:48
  faster.
• 9:49
  Book
• 9:50
  a
• 9:50
  consultation
• 9:51
  with
• 9:51
  an
• 9:51
  EnableMe
• 9:52
  financial
• 9:52
  advisor
• 9:52
  today
• 9:53
  by
• 9:53
  visiting
• 9:54
  Enable
• 9:55
  Me.
• 9:56
  Where
• 9:57
  do
• 9:57
  we
• 9:57
  end
• 9:57
  up
• 9:58
  on
• 9:58
  that?
• 9:58
  Is
• 9:58
  that
• 9:58
  just
• 9:59
  kind
• 9:59
  of
• 9:59
  a
• 9:59
  reshuffle
• 10:00
  of
• 10:00
  where
• 10:00
  the
• 10:00
  money's
• 10:01
  coming
• 10:01
  from?
• 10:01
  But
• 10:01
  it
• 10:01
  is
• 10:02
  asking
• 10:02
  a
• 10:02
  bit
• 10:02
  more
• 10:03
  from
• 10:03
  you
• 10:03
  to
• 10:03
  be
• 10:03
  a
• 10:03
  bit
• 10:04
  more
• 10:04
  active
• 10:04
  in
• 10:04
  it?
• 10:05
  Yeah.
• 10:05
  And
• 10:05
  I
• 10:06
  think
• 10:06
  that
• 10:06
  is
• 10:06
  the
• 10:06
  thing
• 10:07
  is
• 10:07
  you
• 10:07
  being
• 10:07
  engaged
• 10:08
  with
• 10:08
  it.
• 10:08
  So
• 10:08
  if
• 10:08
  you
• 10:08
  haven't
• 10:09
  taken
• 10:09
  the
• 10:09
  opportunity
• 10:10
  previously
• 10:10
  to
• 10:10
  engage
• 10:11
  with
• 10:11
  your
• 10:11
  KiwiSaver,
• 10:12
  see,
• 10:12
  this
• 10:12
  is
• 10:12
  an
• 10:12
  opportunity
• 10:13
  of.
• 10:13
  Right,
• 10:14
  the
• 10:14
  government's
• 10:14
  made
• 10:14
  me
• 10:15
  have
• 10:15
  a
• 10:15
  look
• 10:15
  at
• 10:15
  this.
• 10:15
  I'm
• 10:15
  going
• 10:15
  to
• 10:16
  have
• 10:16
  a
• 10:16
  look
• 10:16
  and
• 10:17
  see
• 10:17
  what,
• 10:18
  firstly
• 10:18
  what
• 10:19
  I
• 10:19
  get,
• 10:20
  how
• 10:20
  my
• 10:20
  fund's
• 10:21
  performing.
• 10:22
  So
• 10:22
  the
• 10:23
  default
• 10:23
  fund
• 10:24
  types
• 10:24
  in
• 10:24
  New
• 10:24
  Zealand
• 10:24
  that
• 10:25
  you
• 10:25
  go
• 10:25
  into,
• 10:25
  if
• 10:25
  you
• 10:25
  make
• 10:26
  no
• 10:26
  decision
• 10:26
  on
• 10:26
  it
• 10:26
  and
• 10:27
  just
• 10:27
  say
• 10:27
  I'm
• 10:27
  going
• 10:27
  to
• 10:27
  enter
• 10:27
  it
• 10:28
  is
• 10:28
  a
• 10:28
  balanced
• 10:29
  fund.
• 10:29
  So
• 10:30
  that's
• 10:30
  good
• 10:31
  in
• 10:31
  some
• 10:31
  circumstances,
• 10:32
  but
• 10:32
  not
• 10:32
  for
• 10:32
  everyone.
• 10:33
  So
• 10:33
  if
• 10:33
  you're
• 10:33
  young
• 10:34
  and
• 10:34
  you've
• 10:34
  got
• 10:35
  more
• 10:35
  than
• 10:35
  a
• 10:36
  10
• 10:36
  year
• 10:36
  time
• 10:37
  frame
• 10:37
  to
• 10:37
  when
• 10:37
  we're
• 10:38
  going
• 10:38
  to
• 10:38
  be
• 10:38
  using
• 10:38
  the
• 10:38
  money
• 10:39
  from
• 10:39
  KiwiSaver,
• 10:40
  I
• 10:40
  want
• 10:40
  you
• 10:40
  to
• 10:41
  be
• 10:41
  looking
• 10:41
  at
• 10:41
  as
• 10:41
  high
• 10:42
  a
• 10:42
  growth
• 10:42
  as
• 10:42
  you
• 10:42
  can
• 10:43
  sleep
• 10:43
  with
• 10:43
  at
• 10:43
  night.
• 10:44
  So,
• 10:44
  you
• 10:44
  know,
• 10:44
  you,
• 10:45
  you
• 10:45
  have
• 10:45
  to
• 10:45
  consider
• 10:46
  you
• 10:46
  do
• 10:46
  want
• 10:46
  to
• 10:46
  sleep
• 10:46
  at
• 10:47
  night,
• 10:47
  not
• 10:47
  be
• 10:47
  worried
• 10:48
  about
• 10:48
  it.
• 10:48
  So
• 10:49
  that's
• 10:49
  your
• 10:49
  risk
• 10:49
  profile
• 10:50
  of,
• 10:50
  you
• 10:50
  know,
• 10:51
  how
• 10:51
  you
• 10:51
  handle
• 10:51
  risk.
• 10:52
  But
• 10:52
  I
• 10:52
  want
• 10:52
  you
• 10:53
  to
• 10:53
  be
• 10:53
  as
• 10:53
  aggressive
• 10:54
  as
• 10:54
  you
• 10:54
  can
• 10:54
  because
• 10:54
  that
• 10:55
  over
• 10:55
  the
• 10:55
  long
• 10:56
  term,
• 10:56
  and
• 10:56
  we're
• 10:56
  talking
• 10:57
  long
• 10:57
  term
• 10:57
  here,
• 10:58
  makes
• 10:59
  such
• 10:59
  a
• 10:59
  difference
• 10:59
  to
• 11:00
  where
• 11:00
  you
• 11:00
  end
• 11:00
  up.
• 11:00
  Say
• 11:01
  you're
• 11:01
  contributing
• 11:01
  10,000
• 11:02
  a
• 11:02
  year
• 11:02
  to
• 11:02
  KiwiSaver
• 11:03
  and
• 11:03
  we're
• 11:03
  getting
• 11:03
  a
• 11:03
  5%
• 11:04
  return
• 11:04
  on
• 11:04
  that
• 11:05
  as
• 11:05
  opposed
• 11:05
  to
• 11:06
  if
• 11:06
  we
• 11:06
  put,
• 11:06
  and
• 11:06
  that's
• 11:07
  a
• 11:07
  balanced
• 11:07
  fund
• 11:07
  average,
• 11:08
  as
• 11:08
  opposed
• 11:09
  if
• 11:09
  we
• 11:09
  put
• 11:09
  it
• 11:09
  in
• 11:09
  a
• 11:09
  growth
• 11:10
  fund
• 11:10
  at
• 11:10
  7%.
• 11:12
  So
• 11:12
  10,000
• 11:13
  over
• 11:13
  20
• 11:13
  years,
• 11:14
  2%
• 11:14
  difference.
• 11:15
  So
• 11:15
  going
• 11:15
  from
• 11:16
  this
• 11:16
  default
• 11:17
  fund
• 11:17
  of
• 11:17
  balance
• 11:17
  to
• 11:18
  growth,
• 11:19
  you
• 11:19
  know,
• 11:19
  $80,000
• 11:20
  difference
• 11:20
  in
• 11:21
  the
• 11:21
  end.
• 11:21
  So
• 11:21
  it's
• 11:22
  time
• 11:23
  and
• 11:24
  return.
• 11:24
  So
• 11:24
  looking
• 11:25
  at
• 11:25
  your
• 11:25
  fund
• 11:25
  type,
• 11:26
  so
• 11:26
  thank
• 11:26
  the
• 11:26
  government
• 11:27
  for
• 11:27
  the
• 11:27
  opportunity
• 11:27
  to
• 11:28
  reassess,
• 11:29
  look
• 11:29
  at
• 11:29
  what
• 11:30
  fund
• 11:30
  type
• 11:30
  you're
• 11:31
  in,
• 11:31
  where
• 11:31
  the
• 11:32
  money's
• 11:32
  coming
• 11:32
  from.
• 11:33
  So
• 11:33
  is
• 11:33
  it
• 11:33
  just
• 11:34
  a
• 11:34
  bonus?
• 11:34
  Because
• 11:34
  if
• 11:35
  your
• 11:35
  kiwisave
• 11:36
  is
• 11:36
  on
• 11:36
  top
• 11:36
  of
• 11:36
  your
• 11:37
  income,
• 11:37
  this
• 11:37
  is
• 11:38
  a
• 11:38
  pay
• 11:38
  rise,
• 11:39
  you
• 11:40
  know,
• 11:40
  we're
• 11:40
  getting
• 11:40
  a
• 11:40
  0.5%
• 11:41
  pay
• 11:41
  rise.
• 11:42
  So,
• 11:42
  you
• 11:42
  know,
• 11:43
  some
• 11:43
  of
• 11:43
  us
• 11:44
  will
• 11:44
  be
• 11:44
  happy
• 11:44
  about
• 11:45
  that
• 11:45
  and
• 11:45
  now
• 11:45
  they
• 11:45
  won't
• 11:46
  because
• 11:46
  it's
• 11:46
  coming.
• 11:46
  I
• 11:46
  never
• 11:46
  say
• 11:46
  no
• 11:47
  to
• 11:47
  it.
• 11:47
  Yeah,
• 11:47
  that's
• 11:47
  right.
• 11:48
  I
• 11:48
  never
• 11:48
  say
• 11:48
  no
• 11:49
  to
• 11:49
  a
• 11:49
  pay
• 11:49
  rise.
• 11:49
  Either.
• 11:50
  So
• 11:50
  you
• 11:50
  know,
• 11:50
  that
• 11:51
  could
• 11:51
  be
• 11:51
  that
• 11:51
  and
• 11:51
  then
• 11:52
  how
• 11:52
  it's
• 11:52
  performing.
• 11:53
  So
• 11:53
  not
• 11:54
  only
• 11:54
  about
• 11:54
  the
• 11:55
  type
• 11:55
  of
• 11:55
  fund
• 11:56
  but
• 11:56
  the
• 11:56
  fund
• 11:57
  provider,
• 11:57
  are
• 11:58
  they
• 11:58
  doing
• 11:58
  well?
• 11:59
  You
• 11:59
  know,
• 11:59
  there
• 12:00
  are
• 12:00
  multiple
• 12:01
  sites
• 12:01
  you
• 12:01
  can
• 12:01
  look
• 12:01
  at,
• 12:02
  you
• 12:02
  know,
• 12:02
  Sorted,
• 12:02
  which
• 12:03
  is
• 12:03
  a
• 12:03
  government
• 12:03
  one,
• 12:04
  compares
• 12:05
  the
• 12:05
  funds
• 12:05
  for
• 12:05
  us.
• 12:06
  So
• 12:06
  if
• 12:06
  you've
• 12:06
  never
• 12:07
  looked
• 12:07
  at
• 12:07
  it,
• 12:07
  go
• 12:07
  on
• 12:08
  there
• 12:08
  and
• 12:08
  have
• 12:08
  a
• 12:08
  look.
• 12:09
  How's
• 12:09
  my
• 12:09
  fund,
• 12:10
  be
• 12:10
  it
• 12:10
  a
• 12:11
  growth,
• 12:11
  a
• 12:11
  balanced,
• 12:11
  a
• 12:12
  conservative,
• 12:12
  how's
• 12:13
  my
• 12:13
  fund
• 12:13
  comparing
• 12:14
  and
• 12:14
  then
• 12:15
  fees.
• 12:16
  So
• 12:16
  again,
• 12:16
  thank
• 12:17
  the
• 12:17
  government
• 12:17
  for
• 12:18
  making
• 12:18
  you
• 12:18
  look
• 12:18
  at
• 12:18
  it
• 12:19
  and
• 12:19
  go
• 12:19
  and
• 12:20
  have
• 12:20
  a
• 12:20
  look
• 12:20
  at
• 12:20
  the
• 12:20
  fees.
• 12:20
  So
• 12:21
  how's
• 12:21
  your
• 12:21
  provider
• 12:22
  compared?
• 12:23
  There
• 12:23
  is
• 12:23
  a
• 12:23
  huge
• 12:24
  difference.
• 12:24
  I
• 12:25
  did
• 12:25
  this
• 12:25
  comparison
• 12:26
  for
• 12:26
  a
• 12:26
  client
• 12:26
  the
• 12:26
  other
• 12:26
  day.
• 12:27
  The
• 12:27
  comparison
• 12:28
  between
• 12:29
  this
• 12:29
  was
• 12:29
  the
• 12:29
  same
• 12:30
  fund
• 12:30
  type,
• 12:30
  so
• 12:30
  it
• 12:31
  was
• 12:31
  actually
• 12:31
  a
• 12:31
  growth
• 12:31
  fund
• 12:33
  for
• 12:33
  the
• 12:34
  life
• 12:34
  of
• 12:34
  the
• 12:34
  time.
• 12:34
  They
• 12:35
  were
• 12:35
  going
• 12:35
  to
• 12:35
  have
• 12:35
  their
• 12:36
  money
• 12:36
  in
• 12:36
  KiwiSaver
• 12:37
  and
• 12:37
  if
• 12:37
  I
• 12:37
  remember
• 12:37
  correctly,
• 12:38
  it
• 12:38
  was
• 12:38
  for
• 12:38
  a
• 12:38
  45
• 12:39
  year
• 12:39
  old.
• 12:39
  So
• 12:39
  they
• 12:39
  still
• 12:39
  had
• 12:40
  20
• 12:40
  years
• 12:40
  to
• 12:40
  go.
• 12:41
  The
• 12:41
  fees
• 12:41
  ranged
• 12:42
  from
• 12:42
  three
• 12:43
  and
• 12:43
  a
• 12:43
  half
• 12:43
  thousand
• 12:44
  to
• 12:44
  25,000
• 12:45
  over
• 12:45
  the
• 12:45
  lifetime
• 12:46
  of
• 12:46
  the
• 12:46
  fund.
• 12:47
  Wow.
• 12:47
  So
• 12:47
  industry
• 12:48
  average
• 12:49
  for
• 12:49
  that
• 12:49
  group
• 12:49
  is
• 12:49
  actually
• 12:49
  15,000.
• 12:50
  So
• 12:50
  there
• 12:51
  are
• 12:51
  some
• 12:51
  fees
• 12:51
  involved.
• 12:52
  But
• 12:52
  we,
• 12:52
  you
• 12:52
  know,
• 12:53
  we're
• 12:53
  hoping
• 12:53
  to
• 12:53
  get
• 12:53
  a
• 12:53
  good
• 12:53
  return
• 12:54
  on
• 12:54
  that
• 12:54
  as
• 12:54
  well.
• 12:55
  But
• 12:55
  that
• 12:55
  makes
• 12:56
  a
• 12:56
  really
• 12:56
  big
• 12:56
  difference,
• 12:56
  you
• 12:57
  know
• 12:57
  that
• 12:57
  20k
• 12:58
  difference
• 12:58
  for
• 12:58
  myself.
• 12:58
  Thank
• 12:59
  you
• 12:59
  so
• 12:59
  much.
• 12:59
  Yes.
• 12:59
  I'd
• 13:00
  like
• 13:00
  to
• 13:00
  have
• 13:00
  that
• 13:00
  compounding
• 13:01
  over
• 13:01
  all
• 13:01
  those
• 13:01
  years
• 13:02
  so
• 13:02
  you
• 13:02
  know,
• 13:03
  KiwiSaver
• 13:03
  isn't
• 13:04
  set
• 13:04
  and
• 13:04
  forget
• 13:04
  it's
• 13:05
  a.
• 13:05
  Have
• 13:05
  a
• 13:05
  look
• 13:05
  at
• 13:06
  how
• 13:07
  is
• 13:07
  it
• 13:07
  performing
• 13:07
  now?
• 13:08
  Is
• 13:08
  it
• 13:08
  continuing
• 13:08
  to
• 13:09
  perform
• 13:09
  well
• 13:09
  and
• 13:10
  then
• 13:10
  making
• 13:10
  conscious
• 13:11
  decisions?
• 13:11
  So
• 13:11
  not
• 13:12
  panic.
• 13:12
  It's
• 13:12
  a
• 13:12
  plan.
• 13:13
  Yeah,
• 13:13
  I
• 13:14
  think
• 13:14
  that's
• 13:14
  super
• 13:14
  important.
• 13:15
  And
• 13:15
  what
• 13:15
  you
• 13:15
  say
• 13:15
  there,
• 13:16
  that
• 13:16
  really
• 13:16
  quick
• 13:16
  litmus.
• 13:17
  Litmus
• 13:18
  test
• 13:18
  of
• 13:19
  something
• 13:19
  like
• 13:19
  the
• 13:19
  sorted
• 13:20
  fund
• 13:20
  finder.
• 13:21
  You
• 13:21
  literally
• 13:21
  just
• 13:21
  Google
• 13:21
  sorted
• 13:22
  fund
• 13:22
  finder,
• 13:23
  they
• 13:23
  have
• 13:23
  a
• 13:23
  little
• 13:23
  quiz
• 13:23
  to
• 13:24
  help
• 13:24
  you
• 13:24
  figure
• 13:24
  out
• 13:24
  your
• 13:25
  risk
• 13:25
  tolerance.
• 13:25
  All
• 13:26
  that
• 13:26
  good
• 13:26
  stuff.
• 13:26
  They
• 13:26
  rank
• 13:27
  things.
• 13:27
  It's
• 13:28
  brilliant.
• 13:28
  I
• 13:28
  think
• 13:28
  it's
• 13:29
  such
• 13:29
  an
• 13:29
  easy
• 13:29
  way
• 13:30
  to
• 13:30
  just
• 13:31
  get
• 13:31
  a
• 13:31
  feel
• 13:32
  for
• 13:32
  what's
• 13:32
  out
• 13:33
  there
• 13:33
  because
• 13:33
  there
• 13:33
  is
• 13:33
  a
• 13:34
  lot
• 13:34
  out
• 13:34
  there
• 13:34
  and
• 13:34
  you
• 13:34
  don't
• 13:34
  want
• 13:34
  to
• 13:34
  get
• 13:35
  the
• 13:35
  overwhelm.
• 13:37
  So
• 13:37
  when
• 13:37
  someone
• 13:38
  is
• 13:38
  reassessing
• 13:39
  this
• 13:39
  and
• 13:39
  like
• 13:39
  you
• 13:40
  say
• 13:40
  thank
• 13:40
  you
• 13:40
  for
• 13:41
  the
• 13:41
  opportunity
• 13:41
  to
• 13:42
  reassess
• 13:43
  this,
• 13:43
  we're
• 13:44
  reframing
• 13:44
  that.
• 13:44
  It's
• 13:45
  an
• 13:45
  opportunity,
• 13:45
  positive
• 13:46
  mindset.
• 13:49
  So
• 13:50
  you've
• 13:50
  mentioned
• 13:50
  things
• 13:50
  like
• 13:51
  fun
• 13:51
  type
• 13:52
  fees.
• 13:52
  They're
• 13:53
  all
• 13:53
  really
• 13:53
  good
• 13:53
  things
• 13:53
  to
• 13:53
  check
• 13:54
  on.
• 13:54
  Is
• 13:55
  there
• 13:55
  any
• 13:55
  other
• 13:55
  areas
• 13:55
  that
• 13:56
  we
• 13:56
  would
• 13:56
  check
• 13:56
  on
• 13:56
  first?
• 13:57
  So
• 13:57
  one
• 13:57
  other
• 13:57
  area
• 13:58
  for
• 13:58
  people
• 13:58
  to
• 13:59
  think
• 13:59
  about.
• 13:59
  And
• 14:00
  so
• 14:00
  we're
• 14:00
  getting
• 14:00
  out
• 14:00
  of
• 14:00
  the
• 14:00
  nitty
• 14:01
  gritty
• 14:01
  of
• 14:01
  just,
• 14:01
  you
• 14:02
  know,
• 14:02
  the
• 14:02
  fees
• 14:02
  and
• 14:02
  the
• 14:02
  returns.
• 14:03
  And
• 14:03
  is
• 14:04
  Kiwisaver
• 14:05
  itself
• 14:05
  going
• 14:05
  to
• 14:05
  be
• 14:06
  enough?
• 14:06
  So
• 14:07
  for
• 14:07
  some
• 14:07
  people
• 14:08
  and
• 14:08
  for
• 14:08
  some
• 14:08
  clients,
• 14:09
  because
• 14:09
  we
• 14:09
  do
• 14:10
  what's
• 14:10
  called
• 14:10
  a
• 14:11
  retirement
• 14:11
  gap
• 14:12
  test.
• 14:12
  So
• 14:13
  do
• 14:13
  we
• 14:13
  have
• 14:14
  enough
• 14:14
  money
• 14:14
  to
• 14:15
  live
• 14:15
  the
• 14:15
  life
• 14:15
  we
• 14:15
  want
• 14:16
  to
• 14:16
  in
• 14:16
  retirement?
• 14:17
  Now,
• 14:17
  first
• 14:18
  we
• 14:18
  have
• 14:18
  to
• 14:18
  know
• 14:18
  what
• 14:18
  life's
• 14:19
  gonna
• 14:19
  cost
• 14:19
  us.
• 14:19
  So
• 14:19
  we
• 14:19
  have
• 14:20
  to
• 14:20
  work
• 14:20
  that
• 14:20
  out,
• 14:21
  get
• 14:21
  some
• 14:22
  good
• 14:22
  data.
• 14:22
  However
• 14:23
  you
• 14:23
  do
• 14:23
  that,
• 14:23
  I
• 14:23
  say
• 14:24
  to
• 14:24
  people,
• 14:24
  I
• 14:25
  don't
• 14:25
  care
• 14:25
  how
• 14:25
  you
• 14:25
  work
• 14:25
  out
• 14:26
  what
• 14:26
  life
• 14:26
  costs.
• 14:26
  You
• 14:26
  don't
• 14:27
  make
• 14:27
  that
• 14:27
  the
• 14:27
  barrier
• 14:28
  to
• 14:28
  figuring
• 14:28
  out
• 14:28
  if
• 14:29
  we're
• 14:29
  going
• 14:29
  to
• 14:29
  have
• 14:29
  enough.
• 14:30
  Because
• 14:30
  a
• 14:30
  lot
• 14:30
  of
• 14:30
  clients
• 14:30
  sit
• 14:31
  with
• 14:31
  me
• 14:31
  like,
• 14:31
  I'm
• 14:31
  not
• 14:32
  doing
• 14:32
  that
• 14:32
  app.
• 14:33
  I'm
• 14:33
  not.
• 14:33
  I'm
• 14:33
  like,
• 14:33
  don't
• 14:34
  make
• 14:34
  that.
• 14:34
  Don't
• 14:35
  make
• 14:35
  that
• 14:35
  the
• 14:35
  hill
• 14:35
  you're
• 14:35
  going
• 14:36
  to
• 14:36
  die
• 14:36
  on.
• 14:36
  Like,
• 14:37
  at
• 14:37
  the
• 14:37
  bare
• 14:37
  minimum,
• 14:38
  if
• 14:38
  you're
• 14:38
  just
• 14:38
  going
• 14:38
  to
• 14:39
  do
• 14:39
  this,
• 14:39
  you
• 14:39
  know,
• 14:39
  on
• 14:39
  the
• 14:40
  back
• 14:40
  of
• 14:41
  a
• 14:41
  piece
• 14:41
  of
• 14:41
  paper
• 14:42
  after
• 14:42
  you've
• 14:42
  got
• 14:42
  the
• 14:42
  data
• 14:43
  on
• 14:43
  what
• 14:43
  life
• 14:43
  costs,
• 14:44
  Times
• 14:44
  that
• 14:44
  by
• 14:45
  25
• 14:46
  and
• 14:46
  get
• 14:46
  an
• 14:46
  idea
• 14:47
  of,
• 14:47
  could
• 14:47
  I
• 14:47
  live
• 14:47
  comfortably
• 14:48
  for
• 14:48
  25
• 14:49
  years?
• 14:49
  So
• 14:50
  that
• 14:50
  gets
• 14:50
  us
• 14:50
  to
• 14:50
  90,
• 14:51
  and
• 14:51
  that's
• 14:52
  how
• 14:52
  we
• 14:52
  work
• 14:52
  out
• 14:52
  a
• 14:52
  retirement
• 14:53
  gap.
• 14:53
  Can
• 14:53
  we
• 14:53
  live
• 14:54
  till
• 14:54
  90
• 14:55
  in
• 14:55
  a
• 14:55
  comfortable
• 14:56
  lifestyle?
• 14:57
  So
• 14:57
  do
• 14:58
  we
• 14:58
  have
• 14:58
  a
• 14:58
  gap
• 14:59
  then?
• 14:59
  Is
• 15:00
  kiwisaver
• 15:00
  going
• 15:01
  to
• 15:01
  fill
• 15:01
  that
• 15:01
  gap?
• 15:01
  Because
• 15:02
  actually,
• 15:02
  for
• 15:02
  a
• 15:02
  lot
• 15:02
  of
• 15:03
  people,
• 15:03
  it's
• 15:03
  not
• 15:03
  going
• 15:04
  to
• 15:04
  be
• 15:04
  enough.
• 15:04
  So
• 15:05
  if
• 15:05
  we
• 15:05
  identify
• 15:06
  that
• 15:06
  early,
• 15:06
  it
• 15:06
  gives
• 15:07
  us
• 15:07
  more
• 15:07
  time
• 15:08
  to
• 15:08
  fill
• 15:08
  the
• 15:09
  gap.
• 15:10
  And
• 15:10
  when
• 15:10
  you're
• 15:10
  working
• 15:10
  out
• 15:11
  what
• 15:11
  life
• 15:11
  costs,
• 15:11
  is
• 15:12
  that
• 15:12
  things
• 15:12
  like,
• 15:12
  you
• 15:12
  know,
• 15:13
  rent,
• 15:14
  mortgage,
• 15:14
  Especially
• 15:15
  if
• 15:15
  you're
• 15:15
  a
• 15:15
  homeowner,
• 15:16
  I
• 15:16
  guess
• 15:16
  you
• 15:16
  might
• 15:16
  be
• 15:16
  hoping
• 15:16
  to
• 15:17
  have
• 15:17
  the
• 15:17
  mortgage
• 15:17
  paid
• 15:17
  off,
• 15:18
  but
• 15:18
  you
• 15:18
  might
• 15:18
  be
• 15:18
  thinking,
• 15:18
  like,
• 15:19
  rates,
• 15:20
  insurance,
• 15:21
  how
• 15:21
  much
• 15:22
  you
• 15:22
  often
• 15:22
  spend
• 15:22
  on
• 15:22
  food,
• 15:23
  that
• 15:23
  sort
• 15:23
  of
• 15:23
  stuff,
• 15:24
  everything.
• 15:24
  So
• 15:25
  when
• 15:25
  we're
• 15:25
  like,
• 15:25
  you
• 15:25
  know,
• 15:25
  when
• 15:26
  we're
• 15:26
  working
• 15:26
  with
• 15:26
  clients
• 15:26
  of
• 15:27
  what
• 15:27
  does
• 15:27
  life
• 15:27
  cost?
• 15:27
  We
• 15:28
  track
• 15:28
  everything.
• 15:29
  So
• 15:29
  we
• 15:29
  literally
• 15:30
  track
• 15:30
  your
• 15:30
  bank
• 15:30
  account.
• 15:31
  We
• 15:31
  see
• 15:32
  some
• 15:32
  very
• 15:32
  interesting
• 15:32
  things,
• 15:33
  but
• 15:34
  you
• 15:34
  really
• 15:34
  get
• 15:34
  a
• 15:34
  good
• 15:35
  feel
• 15:35
  for
• 15:35
  where
• 15:35
  people's
• 15:36
  money
• 15:36
  goes.
• 15:36
  And
• 15:36
  if
• 15:36
  you
• 15:37
  do
• 15:37
  this
• 15:37
  yourself,
• 15:37
  like,
• 15:38
  even
• 15:38
  if
• 15:38
  you're
• 15:38
  using
• 15:38
  the
• 15:38
  bank
• 15:39
  apps
• 15:39
  to
• 15:39
  track,
• 15:40
  so
• 15:40
  you'll
• 15:40
  know,
• 15:41
  is
• 15:41
  it
• 15:41
  food
• 15:41
  that
• 15:42
  I'm
• 15:42
  spending
• 15:42
  too
• 15:42
  much
• 15:42
  money?
• 15:43
  Utilities,
• 15:44
  again,
• 15:45
  hard
• 15:45
  to
• 15:45
  control.
• 15:46
  You
• 15:46
  know,
• 15:46
  we
• 15:47
  can
• 15:47
  try
• 15:47
  and
• 15:47
  minimize
• 15:48
  if,
• 15:48
  you
• 15:48
  know,
• 15:49
  we
• 15:49
  do
• 15:49
  analysis
• 15:50
  on,
• 15:50
  is
• 15:50
  this
• 15:50
  the
• 15:50
  best
• 15:51
  bang
• 15:51
  for
• 15:51
  buck
• 15:51
  that
• 15:51
  we're
• 15:51
  getting?
• 15:52
  We
• 15:53
  can't
• 15:53
  really
• 15:53
  control
• 15:53
  them.
• 15:54
  So
• 15:54
  it's
• 15:54
  more
• 15:54
  around
• 15:54
  that.
• 15:55
  Discretionary
• 15:55
  food,
• 15:57
  doggy
• 15:57
  daycare,
• 15:58
  like,
• 15:58
  the
• 15:58
  things
• 15:59
  that
• 15:59
  people
• 15:59
  spend
• 15:59
  money
• 15:59
  on,
• 16:00
  like,
• 16:00
  for
• 16:00
  me
• 16:00
  as
• 16:01
  a
• 16:01
  financial
• 16:01
  advisor,
• 16:02
  blow
• 16:02
  my
• 16:03
  mind
• 16:03
  sometimes.
• 16:03
  Doggy
• 16:04
  daycare,
• 16:04
  really
• 16:04
  expensive.
• 16:05
  I
• 16:05
  don't
• 16:05
  Have
• 16:05
  a
• 16:05
  dog,
• 16:05
  but
• 16:06
  my
• 16:06
  neighbor
• 16:06
  does.
• 16:06
  Really
• 16:07
  expensive.
• 16:08
  I
• 16:08
  know
• 16:08
  clients
• 16:08
  who
• 16:09
  come
• 16:09
  and
• 16:09
  say,
• 16:09
  I'm
• 16:09
  getting
• 16:09
  a
• 16:09
  pet.
• 16:10
  I'm
• 16:10
  like,
• 16:10
  don't.
• 16:12
  How
• 16:12
  much
• 16:12
  do
• 16:12
  you
• 16:13
  love
• 16:13
  that
• 16:13
  animal?
• 16:14
  Really?
• 16:14
  How
• 16:14
  much?
• 16:15
  From
• 16:16
  advisor's
• 16:17
  point
• 16:17
  of
• 16:17
  view,
• 16:17
  don't.
• 16:17
  I
• 16:17
  love
• 16:18
  dogs,
• 16:18
  but,
• 16:18
  you
• 16:18
  know,
• 16:19
  you
• 16:19
  need
• 16:19
  to
• 16:19
  know
• 16:19
  how
• 16:19
  much
• 16:19
  they
• 16:20
  cost.
• 16:20
  So
• 16:20
  do
• 16:20
  what
• 16:20
  I
• 16:21
  did
• 16:21
  get
• 16:21
  a
• 16:21
  neighbour
• 16:21
  with
• 16:21
  a
• 16:22
  dog.
• 16:22
  Yes,
• 16:22
  that's
• 16:22
  it.
• 16:22
  Share
• 16:23
  a
• 16:23
  dog.
• 16:23
  Share
• 16:24
  a
• 16:24
  dog.
• 16:25
  So
• 16:26
  it's
• 16:26
  everything
• 16:26
  like,
• 16:27
  and
• 16:27
  it's
• 16:27
  trying
• 16:27
  not
• 16:27
  to
• 16:28
  forget
• 16:28
  because
• 16:28
  people
• 16:28
  say
• 16:28
  to
• 16:29
  me,
• 16:29
  oh,
• 16:29
  I
• 16:29
  know
• 16:29
  how
• 16:29
  much
• 16:29
  it
• 16:30
  costs
• 16:30
  me.
• 16:30
  And
• 16:30
  like,
• 16:30
  do
• 16:31
  you.
• 16:31
  And
• 16:31
  when
• 16:31
  we
• 16:32
  really
• 16:32
  dig
• 16:32
  into
• 16:33
  that,
• 16:33
  you
• 16:33
  know,
• 16:33
  we're
• 16:33
  getting
• 16:34
  down
• 16:34
  to.
• 16:35
  I
• 16:35
  know
• 16:35
  every
• 16:35
  cent
• 16:36
  you
• 16:36
  spend.
• 16:36
  Now,
• 16:37
  most
• 16:37
  people
• 16:37
  are
• 16:38
  very
• 16:38
  unaware
• 16:38
  of
• 16:39
  what
• 16:39
  things
• 16:39
  are
• 16:40
  that
• 16:40
  they
• 16:40
  spend
• 16:41
  a
• 16:41
  lot
• 16:41
  of
• 16:41
  money
• 16:41
  on
• 16:42
  and
• 16:42
  things
• 16:42
  that
• 16:42
  don't
• 16:43
  make
• 16:43
  them
• 16:43
  happy.
• 16:44
  I'm
• 16:44
  like,
• 16:44
  this
• 16:44
  isn't
• 16:44
  bringing
• 16:45
  us
• 16:45
  joy.
• 16:46
  Why
• 16:46
  are
• 16:46
  we
• 16:46
  doing
• 16:46
  it?
• 16:47
  Yeah.
• 16:47
  And
• 16:48
  when
• 16:48
  we're
• 16:48
  thinking
• 16:48
  as
• 16:48
  well.
• 16:49
  We've
• 16:49
  mentioned
• 16:49
  the
• 16:50
  fund
• 16:50
  types
• 16:51
  for
• 16:51
  KiwiSaver.
• 16:51
  Now
• 16:52
  this
• 16:52
  is
• 16:52
  going
• 16:52
  to
• 16:52
  be
• 16:53
  by
• 16:53
  necessity
• 16:54
  a
• 16:54
  little
• 16:54
  bit
• 16:55
  of
• 16:55
  a
• 16:55
  broad
• 16:56
  generalization,
• 16:57
  but
• 16:58
  when
• 16:58
  we're
• 16:58
  thinking
• 16:59
  most
• 16:59
  common
• 16:59
  fund
• 17:00
  types
• 17:00
  for
• 17:00
  KiwiSaver,
• 17:01
  conservative,
• 17:01
  balanced
• 17:02
  growth.
• 17:02
  Are
• 17:03
  there.
• 17:04
  Are
• 17:04
  there
• 17:05
  simple
• 17:05
  rules
• 17:05
  of
• 17:05
  thumb
• 17:06
  for
• 17:06
  when
• 17:07
  each
• 17:07
  one
• 17:07
  might
• 17:07
  be
• 17:08
  a
• 17:08
  better
• 17:08
  fit
• 17:08
  for.
• 17:09
  For
• 17:09
  you?
• 17:10
  So
• 17:10
  if
• 17:11
  we're
• 17:11
  looking
• 17:11
  at
• 17:12
  not
• 17:12
  using
• 17:13
  the
• 17:13
  money
• 17:13
  for
• 17:13
  10
• 17:14
  years
• 17:14
  or
• 17:14
  more,
• 17:15
  so
• 17:15
  10
• 17:15
  years
• 17:15
  away,
• 17:16
  so
• 17:16
  that's.
• 17:16
  We're
• 17:16
  not
• 17:17
  going
• 17:17
  to
• 17:17
  use
• 17:17
  it
• 17:17
  for
• 17:17
  first
• 17:17
  home
• 17:18
  or
• 17:19
  we're
• 17:19
  not
• 17:19
  10
• 17:19
  years
• 17:19
  from
• 17:20
  retirement,
• 17:20
  we
• 17:21
  would
• 17:21
  go
• 17:21
  growth.
• 17:22
  If
• 17:23
  we're
• 17:23
  looking
• 17:24
  a
• 17:24
  shorter
• 17:25
  time
• 17:25
  frame
• 17:25
  of,
• 17:26
  you
• 17:26
  know,
• 17:26
  under
• 17:26
  10
• 17:26
  years,
• 17:28
  but
• 17:28
  not
• 17:29
  something
• 17:29
  that
• 17:29
  we
• 17:30
  need
• 17:30
  to
• 17:30
  use
• 17:30
  tomorrow,
• 17:31
  then
• 17:32
  balanced,
• 17:33
  you
• 17:33
  know,
• 17:33
  we're
• 17:33
  looking
• 17:33
  at
• 17:33
  that
• 17:33
  sort
• 17:34
  of
• 17:34
  two
• 17:34
  to
• 17:34
  five
• 17:35
  year
• 17:36
  sort
• 17:36
  of
• 17:36
  range
• 17:36
  for
• 17:37
  balanced.
• 17:38
  If
• 17:38
  we
• 17:38
  are
• 17:39
  thinking
• 17:39
  we
• 17:40
  need
• 17:40
  to
• 17:40
  use
• 17:40
  that
• 17:40
  money
• 17:41
  anytime
• 17:41
  soon,
• 17:42
  like
• 17:42
  in
• 17:42
  the
• 17:42
  next
• 17:42
  one
• 17:43
  to
• 17:43
  three
• 17:43
  years,
• 17:43
  actively
• 17:43
  house
• 17:43
  hunting.
• 17:44
  That's
• 17:44
  it.
• 17:44
  Yeah,
• 17:45
  actively
• 17:45
  house
• 17:45
  hunting,
• 17:46
  then
• 17:46
  conservative.
• 17:47
  So
• 17:47
  they're
• 17:47
  like
• 17:48
  broad,
• 17:49
  you
• 17:49
  know,
• 17:49
  advice
• 17:50
  on
• 17:50
  when
• 17:51
  we're
• 17:51
  doing
• 17:51
  it.
• 17:51
  Brilliant.
• 17:52
  Thank
• 17:52
  you
• 17:52
  so
• 17:52
  much.
• 17:53
  Kristen
• 17:53
  Sutherland,
• 17:54
  financial
• 17:54
  advisor
• 17:55
  from
• 17:55
  Enable
• 17:55
  Me.
• 17:55
  Really
• 17:56
  appreciate
• 17:56
  the
• 17:56
  KiwiSaver
• 17:57
  chat.
• 17:57
  Hopefully
• 17:58
  we're
• 17:58
  all
• 17:58
  feeling
• 17:58
  a
• 17:58
  little
• 17:58
  less
• 17:59
  panicky
• 18:00
  now.
• 18:00
  If
• 18:00
  you
• 18:00
  have
• 18:01
  questions
• 18:01
  about
• 18:01
  this,
• 18:01
  anything
• 18:02
  else
• 18:02
  to
• 18:02
  do
• 18:02
  with
• 18:02
  money,
• 18:03
  send
• 18:03
  them
• 18:03
  through.
• 18:04
  I'll
• 18:04
  get
• 18:04
  an
• 18:04
  expert
• 18:05
  to
• 18:05
  answer
• 18:05
  all
• 18:05
  your
• 18:06
  questions.
• 18:06
  It's
• 18:07
  askancescook.co
• 18:09
  nz
• 18:10
  until
• 18:10
  next
• 18:11
  time.
• 18:11
  Have
• 18:11
  a
• 18:11
  great
• 18:11
  day.
• 18:14
  This
• 18:15
  podcast
• 18:15
  can
• 18:15
  only
• 18:15
  give
• 18:16
  you
• 18:16
  general
• 18:16
  information
• 18:17
  about
• 18:17
  how
• 18:17
  things
• 18:18
  work
• 18:18
  in
• 18:18
  most
• 18:19
  situations.
• 18:20
  It's
• 18:20
  not
• 18:20
  individual
• 18:21
  financial
• 18:21
  advice.
• 18:22
  If
• 18:22
  you're
• 18:22
  after
• 18:23
  that,
• 18:23
  a
• 18:23
  financial
• 18:24
  advisor
• 18:24
  is
• 18:24
  always
• 18:25
  the
• 18:25
  best
• 18:25
  bet.