Latest / Making Cents / KiwiSaver Changes On The Cards Again - Are They Worth It?

Transcript

KiwiSaver Changes On The Cards Again - Are They Worth It? · Making Cents

• 0:02
  Hey,
• 0:02
  team,
• 0:02
  it's
• 0:03
  Francis.
• 0:04
  Oh,
• 0:04
  look.
• 0:04
  Must
• 0:05
  be
• 0:05
  an
• 0:05
  election
• 0:05
  year,
• 0:06
  because
• 0:06
  wouldn't
• 0:06
  you
• 0:06
  know
• 0:07
  it,
• 0:07
  we're
• 0:07
  talking
• 0:08
  about
• 0:08
  whether
• 0:08
  to
• 0:08
  fiddle
• 0:09
  with
• 0:09
  Kiwisaver
• 0:10
  again.
• 0:10
  So
• 0:11
  what's
• 0:11
  on
• 0:11
  the
• 0:11
  cards
• 0:11
  this
• 0:12
  time?
• 0:12
  Is
• 0:12
  it
• 0:13
  any
• 0:13
  good?
• 0:13
  And
• 0:14
  what
• 0:14
  does
• 0:14
  it
• 0:14
  tell
• 0:14
  us
• 0:15
  about
• 0:15
  how
• 0:15
  Kiwisaver
• 0:16
  could
• 0:16
  be
• 0:16
  working
• 0:17
  better
• 0:17
  to
• 0:17
  help
• 0:17
  us
• 0:18
  get
• 0:18
  ahead?
• 0:18
  I
• 0:19
  ran
• 0:19
  through
• 0:19
  it
• 0:19
  and
• 0:20
  crunched
• 0:20
  some
• 0:20
  numbers
• 0:20
  for
• 0:20
  the
• 0:21
  TV
• 0:21
  one
• 0:21
  Breakfast
• 0:22
  team.
• 0:22
  They
• 0:22
  were
• 0:22
  kind
• 0:23
  enough
• 0:23
  to
• 0:23
  say
• 0:23
  I
• 0:23
  could
• 0:24
  reshare
• 0:24
  that
• 0:24
  conversation
• 0:25
  with
• 0:25
  you
• 0:25
  here,
• 0:26
  so
• 0:26
  enjoy.
• 0:32
  New
• 0:32
  Zealand
• 0:33
  first
• 0:33
  leader
• 0:33
  Winston
• 0:33
  Peters
• 0:34
  has
• 0:34
  announced
• 0:34
  a
• 0:34
  proposed
• 0:35
  policy
• 0:35
  that
• 0:35
  would
• 0:36
  automatically
• 0:36
  enrol
• 0:37
  all
• 0:37
  newborn
• 0:38
  citizens
• 0:38
  into
• 0:38
  kiwisaver
• 0:40
  with
• 0:40
  a
• 0:40
  $1,000
• 0:41
  government
• 0:41
  contribution.
• 0:42
  So
• 0:43
  how
• 0:43
  far
• 0:43
  can
• 0:43
  that
• 0:43
  get
• 0:43
  you?
• 0:43
  Francis
• 0:44
  Cook
• 0:44
  is
• 0:44
  going
• 0:44
  to
• 0:44
  break
• 0:45
  it
• 0:45
  down
• 0:45
  for
• 0:45
  us.
• 0:45
  Let's
• 0:46
  assume
• 0:46
  you've
• 0:46
  got
• 0:46
  $1,000
• 0:47
  in
• 0:47
  the
• 0:47
  bank.
• 0:47
  Good
• 0:48
  morning.
• 0:48
  Good
• 0:48
  morning.
• 0:49
  And
• 0:49
  what
• 0:49
  are
• 0:50
  the
• 0:50
  factors
• 0:50
  you
• 0:50
  put
• 0:50
  in
• 0:50
  here?
• 0:51
  High
• 0:51
  growth.
• 0:53
  If
• 0:53
  you
• 0:53
  got
• 0:54
  to
• 0:54
  18,
• 0:54
  how
• 0:54
  much
• 0:55
  would
• 0:55
  you
• 0:55
  have
• 0:55
  in
• 0:55
  the
• 0:55
  bank
• 0:55
  without
• 0:56
  doing
• 0:56
  anything
• 0:56
  to
• 0:56
  it?
• 0:57
  Yeah,
• 0:57
  so
• 0:57
  what
• 0:57
  I'm
• 0:58
  assuming
• 0:58
  here
• 0:58
  is
• 0:58
  you
• 0:58
  just
• 0:58
  get
• 0:58
  that
• 0:59
  thousand
• 0:59
  dollars,
• 0:59
  you
• 1:00
  don't
• 1:00
  do
• 1:00
  anything
• 1:00
  else
• 1:00
  to
• 1:00
  it,
• 1:01
  you
• 1:01
  put
• 1:01
  it
• 1:01
  into
• 1:02
  a
• 1:02
  growth
• 1:03
  account,
• 1:04
  leave
• 1:04
  it
• 1:04
  alone.
• 1:05
  And
• 1:05
  so
• 1:05
  if
• 1:05
  you
• 1:06
  get
• 1:06
  to
• 1:06
  18,
• 1:06
  at
• 1:07
  that
• 1:07
  point,
• 1:07
  it's
• 1:08
  $3,300
• 1:09
  just
• 1:10
  from
• 1:10
  leaving
• 1:10
  it
• 1:10
  sitting
• 1:10
  there
• 1:11
  doing
• 1:11
  nothing.
• 1:12
  Absolutely
• 1:12
  nothing.
• 1:12
  Right.
• 1:13
  And
• 1:13
  then
• 1:13
  if
• 1:13
  you
• 1:13
  looked
• 1:14
  further
• 1:14
  and
• 1:14
  you
• 1:15
  say,
• 1:15
  got
• 1:15
  to
• 1:16
  the
• 1:16
  stage,
• 1:16
  let's
• 1:16
  say
• 1:16
  first
• 1:17
  home
• 1:17
  buyer
• 1:17
  at
• 1:17
  25.
• 1:18
  First.
• 1:18
  Yeah,
• 1:19
  imagine
• 1:19
  that.
• 1:19
  Imagine
• 1:20
  it.
• 1:20
  Wouldn't
• 1:20
  it
• 1:20
  be
• 1:20
  nice?
• 1:20
  How
• 1:21
  much
• 1:21
  would
• 1:21
  you
• 1:21
  have
• 1:21
  in
• 1:22
  the
• 1:22
  account
• 1:22
  then?
• 1:22
  Almost
• 1:23
  5,500.
• 1:24
  Wow.
• 1:24
  All
• 1:24
  right,
• 1:24
  so
• 1:25
  that
• 1:25
  doesn't
• 1:26
  seem
• 1:26
  like
• 1:26
  a
• 1:26
  heck
• 1:26
  of
• 1:26
  a
• 1:27
  lot.
• 1:27
  It's
• 1:28
  a
• 1:28
  little
• 1:28
  nudge.
• 1:28
  Maybe
• 1:29
  it'll
• 1:29
  pay
• 1:29
  for
• 1:29
  the
• 1:29
  lawyer's
• 1:30
  fees
• 1:30
  or
• 1:30
  the
• 1:31
  building
• 1:31
  reports.
• 1:32
  And
• 1:32
  then
• 1:32
  what
• 1:32
  about
• 1:32
  if
• 1:33
  you
• 1:33
  left
• 1:33
  it
• 1:33
  to
• 1:34
  go
• 1:34
  the
• 1:34
  full
• 1:34
  shebang
• 1:35
  up
• 1:35
  to
• 1:35
  65?
• 1:36
  And
• 1:36
  this
• 1:37
  is
• 1:37
  where
• 1:37
  we
• 1:37
  see
• 1:37
  the
• 1:37
  power
• 1:38
  of
• 1:38
  bringing
• 1:38
  this
• 1:38
  in
• 1:38
  for
• 1:39
  people
• 1:39
  who
• 1:39
  are
• 1:39
  just
• 1:40
  born
• 1:40
  and
• 1:40
  giving
• 1:41
  it
• 1:41
  a
• 1:41
  lot
• 1:41
  of
• 1:41
  time,
• 1:42
  because
• 1:42
  by
• 1:42
  the
• 1:43
  time
• 1:43
  you
• 1:43
  hit
• 1:43
  65,
• 1:44
  if
• 1:44
  you
• 1:44
  have
• 1:44
  done
• 1:44
  nothing
• 1:45
  else
• 1:45
  to
• 1:45
  it,
• 1:45
  it's
• 1:46
  over
• 1:46
  $81,000.
• 1:48
  So
• 1:48
  that's.
• 1:49
  That
• 1:49
  is
• 1:49
  the
• 1:49
  power
• 1:49
  of
• 1:49
  the
• 1:49
  market
• 1:49
  and
• 1:50
  keeping
• 1:50
  going.
• 1:50
  And
• 1:50
  that's
• 1:51
  81,000
• 1:51
  as
• 1:51
  well
• 1:52
  of
• 1:52
  today's
• 1:52
  equivalent
• 1:53
  money,
• 1:53
  because
• 1:53
  I've
• 1:54
  taken
• 1:54
  some
• 1:54
  money
• 1:55
  off
• 1:55
  there
• 1:55
  for
• 1:55
  taxes,
• 1:56
  fees
• 1:56
  and
• 1:57
  inflation.
• 1:57
  So
• 1:57
  it
• 1:58
  is
• 1:58
  81,000
• 1:58
  of
• 1:59
  today
• 1:59
  money.
• 1:59
  Okay,
• 2:00
  So
• 2:00
  I
• 2:00
  mean,
• 2:00
  you
• 2:00
  can
• 2:00
  go
• 2:00
  to
• 2:01
  for
• 2:01
  nothing.
• 2:02
  Yeah,
• 2:02
  you
• 2:02
  can
• 2:02
  go
• 2:02
  to
• 2:02
  sorted
• 2:03
  Kiwisaver
• 2:03
  calculator
• 2:04
  and
• 2:04
  actually
• 2:04
  look
• 2:04
  at
• 2:05
  different
• 2:05
  factors
• 2:05
  and
• 2:05
  you
• 2:05
  might
• 2:05
  come
• 2:06
  up
• 2:06
  with
• 2:06
  a
• 2:06
  different
• 2:06
  amount,
• 2:06
  but
• 2:06
  you've
• 2:07
  basically
• 2:07
  looked
• 2:07
  at
• 2:07
  going
• 2:07
  High
• 2:08
  growth,
• 2:08
  doing
• 2:09
  nothing
• 2:09
  until
• 2:10
  that
• 2:10
  age.
• 2:11
  So
• 2:11
  what
• 2:12
  do
• 2:12
  you
• 2:12
  think
• 2:12
  of
• 2:12
  the
• 2:12
  policy?
• 2:12
  Do
• 2:13
  you
• 2:13
  like
• 2:13
  it?
• 2:13
  Well,
• 2:13
  I've
• 2:14
  got
• 2:14
  to
• 2:14
  say
• 2:14
  I'm
• 2:15
  just
• 2:15
  so
• 2:15
  relieved
• 2:15
  that
• 2:16
  we're
• 2:16
  finally
• 2:16
  talking
• 2:16
  about
• 2:17
  adding
• 2:17
  to
• 2:17
  kiwisaver
• 2:18
  because
• 2:18
  I
• 2:18
  feel
• 2:18
  like
• 2:19
  since
• 2:19
  Kiwisaver
• 2:20
  was
• 2:20
  launched
• 2:21
  we
• 2:21
  have
• 2:21
  seen
• 2:21
  this
• 2:21
  continual
• 2:22
  stripping
• 2:22
  back
• 2:23
  and
• 2:23
  you
• 2:23
  look
• 2:24
  at
• 2:24
  it
• 2:24
  and
• 2:24
  you
• 2:24
  say,
• 2:24
  oh,
• 2:25
  we're
• 2:25
  trying
• 2:25
  to
• 2:25
  convince
• 2:25
  people
• 2:26
  to
• 2:26
  put
• 2:26
  their
• 2:26
  money
• 2:26
  away
• 2:27
  for
• 2:27
  the
• 2:27
  future.
• 2:27
  We're
• 2:28
  already
• 2:28
  so
• 2:28
  bad
• 2:29
  at
• 2:29
  that,
• 2:29
  thinking
• 2:30
  about
• 2:30
  our
• 2:30
  future
• 2:30
  selves
• 2:31
  and
• 2:31
  planning
• 2:31
  for
• 2:31
  it.
• 2:32
  We've
• 2:32
  all
• 2:32
  got
• 2:33
  a
• 2:33
  lot
• 2:33
  that
• 2:33
  we
• 2:33
  need
• 2:33
  to
• 2:33
  do
• 2:34
  today
• 2:34
  and
• 2:34
  so
• 2:34
  we've
• 2:34
  been
• 2:35
  continually
• 2:36
  taking
• 2:36
  away
• 2:36
  the
• 2:37
  incentives
• 2:37
  for
• 2:38
  saving.
• 2:39
  So
• 2:39
  I
• 2:39
  am
• 2:39
  just
• 2:40
  so
• 2:40
  relieved
• 2:40
  that
• 2:41
  someone
• 2:41
  is
• 2:41
  finally
• 2:42
  turning
• 2:42
  around
• 2:42
  and
• 2:42
  saying
• 2:42
  we
• 2:43
  should
• 2:43
  make
• 2:43
  KiwiSaver
• 2:44
  attractive
• 2:44
  again,
• 2:44
  we
• 2:45
  should
• 2:45
  make
• 2:45
  KiwiSaver
• 2:46
  worth
• 2:46
  doing
• 2:46
  again
• 2:47
  and
• 2:47
  getting
• 2:48
  people
• 2:48
  involved
• 2:49
  with
• 2:49
  it.
• 2:49
  So
• 2:50
  I'll
• 2:50
  take
• 2:50
  anything
• 2:51
  at
• 2:51
  this
• 2:51
  point.
• 2:51
  If
• 2:52
  you're
• 2:52
  potentially
• 2:52
  getting
• 2:53
  $81,000
• 2:53
  before
• 2:54
  even
• 2:54
  considering
• 2:55
  your
• 2:55
  working
• 2:56
  life
• 2:56
  up
• 2:56
  until
• 2:57
  then
• 2:57
  and
• 2:57
  that
• 2:57
  accruing,
• 2:58
  I
• 2:59
  mean
• 2:59
  that's
• 3:00
  a
• 3:00
  great
• 3:00
  start,
• 3:00
  isn't
• 3:01
  it?
• 3:01
  It
• 3:01
  really
• 3:01
  is.
• 3:02
  And
• 3:02
  it's
• 3:03
  also,
• 3:03
  you
• 3:03
  know,
• 3:03
  we
• 3:03
  look
• 3:04
  overseas,
• 3:04
  you
• 3:04
  know,
• 3:05
  Australia,
• 3:05
  the
• 3:06
  uk,
• 3:06
  Singapore,
• 3:06
  they're
• 3:07
  all
• 3:07
  looking
• 3:07
  at
• 3:07
  ways
• 3:08
  to
• 3:08
  beef
• 3:09
  up
• 3:09
  the
• 3:10
  ways
• 3:10
  that
• 3:10
  people
• 3:10
  can
• 3:10
  save
• 3:11
  while
• 3:11
  they're
• 3:11
  working,
• 3:12
  save
• 3:12
  for
• 3:12
  their
• 3:12
  own
• 3:13
  retirements
• 3:13
  because
• 3:14
  frankly
• 3:15
  it's
• 3:15
  cheaper
• 3:16
  than
• 3:16
  having
• 3:16
  a
• 3:16
  bunch
• 3:16
  of
• 3:17
  people
• 3:17
  hit
• 3:17
  pension
• 3:18
  age,
• 3:18
  be
• 3:18
  reliant
• 3:19
  on
• 3:19
  state
• 3:19
  support
• 3:20
  and
• 3:20
  maybe
• 3:20
  they
• 3:20
  hit
• 3:20
  health
• 3:21
  problems,
• 3:21
  they
• 3:21
  can't
• 3:21
  afford
• 3:22
  them.
• 3:22
  You've
• 3:23
  population
• 3:23
  that
• 3:24
  needs
• 3:24
  help.
• 3:24
  It
• 3:25
  is
• 3:25
  cheaper,
• 3:25
  it
• 3:25
  is
• 3:26
  smarter
• 3:26
  to
• 3:27
  have
• 3:27
  people
• 3:28
  saving
• 3:28
  for
• 3:28
  their
• 3:28
  own
• 3:29
  retirements
• 3:29
  and
• 3:30
  you
• 3:30
  give
• 3:30
  them
• 3:30
  little
• 3:30
  boosts.
• 3:31
  I
• 3:31
  would
• 3:31
  say
• 3:31
  the
• 3:31
  one
• 3:32
  thing
• 3:32
  I
• 3:33
  would
• 3:33
  really
• 3:33
  love
• 3:33
  to
• 3:34
  see
• 3:34
  proper
• 3:34
  discussion
• 3:35
  of
• 3:36
  is
• 3:36
  tax
• 3:37
  incentives.
• 3:37
  You
• 3:37
  know
• 3:38
  over
• 3:38
  in
• 3:38
  Australia
• 3:38
  they
• 3:39
  really
• 3:39
  have
• 3:39
  some
• 3:40
  quite
• 3:40
  gold
• 3:40
  plated,
• 3:41
  quite
• 3:41
  nice
• 3:41
  tax
• 3:42
  incentives
• 3:42
  for
• 3:42
  saving
• 3:43
  into
• 3:43
  their
• 3:44
  super
• 3:44
  and
• 3:45
  it
• 3:45
  really
• 3:45
  works,
• 3:46
  it
• 3:46
  convinces
• 3:46
  people
• 3:47
  their
• 3:47
  super
• 3:47
  balances
• 3:48
  over
• 3:48
  there
• 3:48
  are
• 3:48
  much,
• 3:49
  much
• 3:49
  bigger
• 3:49
  people
• 3:50
  will
• 3:50
  do
• 3:50
  things
• 3:50
  like
• 3:50
  salary
• 3:51
  sacrifice.
• 3:51
  I
• 3:52
  would
• 3:52
  love
• 3:52
  to
• 3:52
  see
• 3:52
  some
• 3:52
  tax
• 3:52
  incentives
• 3:53
  but
• 3:53
  this
• 3:53
  is
• 3:54
  good,
• 3:54
  this
• 3:54
  is
• 3:54
  a.
• 3:55
  I'll
• 3:55
  take
• 3:55
  it.
• 3:55
  It's
• 3:55
  probably
• 3:56
  a
• 3:56
  good
• 3:56
  reminder
• 3:56
  actually
• 3:56
  for
• 3:57
  people
• 3:57
  to
• 3:57
  go
• 3:57
  and
• 3:57
  check
• 3:58
  out
• 3:58
  a
• 3:59
  calculator
• 3:59
  and
• 3:59
  actually
• 4:00
  see
• 4:00
  what
• 4:00
  their
• 4:01
  Kiwi
• 4:01
  server
• 4:01
  is
• 4:02
  currently
• 4:02
  doing.
• 4:02
  Right,
• 4:02
  yeah.
• 4:03
  And
• 4:03
  you
• 4:03
  mentioned
• 4:04
  earlier
• 4:04
  sorted,
• 4:05
  the
• 4:05
  sorted
• 4:06
  fund
• 4:06
  finder.
• 4:07
  If
• 4:07
  you
• 4:07
  just
• 4:07
  Google
• 4:08
  that,
• 4:08
  it's
• 4:08
  brilliant,
• 4:09
  it
• 4:09
  pops
• 4:09
  right
• 4:09
  up
• 4:10
  and
• 4:10
  it
• 4:10
  will
• 4:10
  help
• 4:11
  you
• 4:11
  figure
• 4:11
  out
• 4:11
  a
• 4:12
  what
• 4:12
  sort
• 4:12
  of
• 4:12
  fund
• 4:12
  you
• 4:13
  should
• 4:13
  be
• 4:13
  in.
• 4:13
  There's
• 4:13
  this
• 4:13
  little
• 4:14
  five
• 4:14
  minute
• 4:14
  quiz
• 4:15
  whether
• 4:15
  you
• 4:15
  can
• 4:15
  run
• 4:15
  through
• 4:16
  that
• 4:16
  but
• 4:16
  they'll
• 4:16
  also
• 4:17
  run
• 4:17
  calculations
• 4:17
  of,
• 4:18
  you
• 4:18
  know,
• 4:18
  if
• 4:18
  I'm
• 4:18
  in
• 4:19
  a
• 4:19
  conservative
• 4:19
  account,
• 4:19
  what
• 4:20
  could
• 4:20
  this
• 4:20
  look
• 4:20
  like
• 4:20
  by
• 4:21
  this
• 4:21
  many
• 4:21
  years?
• 4:21
  If
• 4:22
  I'm
• 4:22
  in
• 4:22
  a
• 4:22
  growth
• 4:22
  account,
• 4:22
  what
• 4:23
  does
• 4:23
  that
• 4:23
  look
• 4:23
  like?
• 4:24
  And
• 4:24
  it
• 4:24
  makes
• 4:24
  it
• 4:24
  more
• 4:25
  real.
• 4:25
  There
• 4:25
  have
• 4:25
  been
• 4:26
  lots
• 4:26
  of
• 4:26
  studies
• 4:27
  that
• 4:27
  if
• 4:28
  people
• 4:28
  put
• 4:28
  on
• 4:28
  virtual
• 4:29
  reality
• 4:29
  headsets
• 4:30
  and
• 4:30
  interact
• 4:30
  with
• 4:31
  an
• 4:31
  aged
• 4:31
  up
• 4:31
  version
• 4:32
  of
• 4:32
  themselves,
• 4:33
  they
• 4:33
  then
• 4:33
  make.
• 4:34
  I
• 4:34
  know,
• 4:34
  it's
• 4:34
  brilliant.
• 4:35
  They
• 4:35
  then
• 4:35
  make
• 4:35
  better
• 4:36
  decisions
• 4:36
  for
• 4:36
  the
• 4:36
  future
• 4:37
  because
• 4:37
  their
• 4:37
  future
• 4:37
  self
• 4:38
  seems
• 4:38
  more
• 4:39
  real.
• 4:39
  So
• 4:39
  same
• 4:40
  thing
• 4:40
  with
• 4:40
  even
• 4:40
  just
• 4:40
  running
• 4:41
  the
• 4:41
  numbers
• 4:41
  here.
• 4:41
  If
• 4:41
  it
• 4:42
  makes
• 4:42
  more
• 4:42
  real
• 4:43
  in
• 4:43
  terms
• 4:43
  of
• 4:43
  what
• 4:43
  I
• 4:44
  could
• 4:44
  get
• 4:44
  from
• 4:44
  this.
• 4:45
  Brilliant.
• 4:45
  Go
• 4:45
  play
• 4:45
  with
• 4:46
  the
• 4:46
  calculators.
• 4:46
  Yeah,
• 4:47
  people
• 4:48
  might
• 4:48
  stop
• 4:48
  doing
• 4:48
  a
• 4:48
  lot
• 4:48
  of
• 4:49
  things
• 4:49
  that
• 4:49
  they're
• 4:49
  currently
• 4:49
  doing
• 4:49
  if
• 4:50
  they
• 4:50
  had
• 4:50
  to
• 4:50
  meet
• 4:50
  their
• 4:50
  older
• 4:51
  self.
• 4:51
  Right.
• 4:51
  What
• 4:52
  is
• 4:52
  the
• 4:52
  single
• 4:52
  thing
• 4:52
  that
• 4:53
  people
• 4:53
  could
• 4:53
  do
• 4:53
  today
• 4:54
  to
• 4:54
  make
• 4:54
  sure
• 4:54
  that
• 4:54
  Kiwisaver
• 4:55
  is
• 4:55
  working
• 4:56
  the
• 4:56
  best
• 4:56
  it
• 4:56
  can
• 4:57
  be
• 4:57
  for
• 4:57
  them?
• 4:57
  Facaders
• 4:58
  contribute.
• 4:59
  So
• 4:59
  a
• 4:59
  lot
• 4:59
  of
• 5:00
  people
• 5:00
  are
• 5:00
  on
• 5:00
  contributions
• 5:01
  holidays
• 5:01
  and
• 5:01
  I
• 5:02
  know
• 5:02
  every
• 5:03
  dollar
• 5:03
  is
• 5:03
  tight
• 5:03
  right
• 5:03
  now,
• 5:04
  but
• 5:04
  if
• 5:04
  someone
• 5:05
  walked
• 5:05
  up
• 5:05
  to
• 5:05
  you
• 5:05
  and
• 5:05
  said
• 5:06
  here
• 5:06
  you
• 5:06
  can
• 5:06
  have
• 5:06
  $260,
• 5:08
  wouldn't
• 5:08
  you
• 5:08
  take
• 5:08
  it?
• 5:09
  Same
• 5:09
  thing
• 5:09
  for
• 5:10
  if
• 5:10
  you're
• 5:10
  in
• 5:10
  Kiwisave,
• 5:11
  you
• 5:11
  can
• 5:11
  get
• 5:11
  $260
• 5:12
  just
• 5:12
  by
• 5:12
  putting
• 5:13
  in
• 5:13
  $20
• 5:14
  a
• 5:14
  week.
• 5:14
  You
• 5:14
  get
• 5:14
  that
• 5:14
  $260
• 5:15
  back
• 5:15
  at
• 5:15
  the
• 5:16
  end
• 5:16
  of
• 5:16
  every
• 5:16
  year
• 5:16
  and
• 5:17
  that
• 5:17
  is
• 5:17
  free
• 5:18
  money.
• 5:18
  Take
• 5:18
  it.
• 5:19
  You
• 5:19
  don't
• 5:19
  get
• 5:19
  it
• 5:19
  back
• 5:20
  if
• 5:20
  you
• 5:20
  miss
• 5:20
  that
• 5:21
  end
• 5:21
  of
• 5:21
  June
• 5:21
  deadline.
• 5:22
  So
• 5:22
  you've
• 5:22
  still
• 5:22
  got
• 5:23
  a
• 5:23
  month
• 5:23
  or
• 5:23
  so
• 5:23
  to
• 5:23
  get
• 5:23
  that
• 5:24
  in
• 5:24
  for
• 5:24
  this
• 5:24
  year.
• 5:25
  Do
• 5:25
  you
• 5:25
  think
• 5:25
  this
• 5:26
  policy
• 5:26
  from
• 5:27
  New
• 5:27
  Zealand
• 5:27
  first,
• 5:28
  I
• 5:28
  mean
• 5:28
  we
• 5:28
  talked
• 5:28
  about
• 5:28
  it
• 5:29
  with
• 5:29
  Chris
• 5:29
  Hipkins
• 5:30
  earlier
• 5:30
  and
• 5:30
  he
• 5:31
  seemed
• 5:31
  to
• 5:31
  be
• 5:31
  fairly
• 5:32
  on
• 5:32
  board
• 5:32
  with
• 5:32
  it
• 5:32
  too.
• 5:33
  Do
• 5:33
  you
• 5:33
  think
• 5:33
  this
• 5:33
  is
• 5:33
  the
• 5:33
  sort
• 5:33
  of
• 5:34
  thing
• 5:34
  that
• 5:34
  actually
• 5:34
  is
• 5:34
  going
• 5:35
  to
• 5:35
  be
• 5:35
  very
• 5:35
  popular
• 5:36
  across
• 5:36
  the
• 5:36
  board?
• 5:38
  I
• 5:38
  think
• 5:39
  people
• 5:39
  are
• 5:40
  searching
• 5:40
  for
• 5:40
  a
• 5:40
  win
• 5:40
  right
• 5:41
  now.
• 5:41
  I
• 5:42
  know
• 5:42
  we're
• 5:42
  in
• 5:42
  a
• 5:42
  tough
• 5:42
  economic
• 5:43
  time,
• 5:43
  so
• 5:44
  there
• 5:44
  are
• 5:44
  lots
• 5:45
  of
• 5:45
  cutbacks
• 5:45
  in
• 5:45
  various
• 5:45
  different
• 5:46
  areas.
• 5:46
  But
• 5:46
  I
• 5:46
  do
• 5:47
  feel
• 5:47
  like
• 5:47
  the
• 5:47
  average
• 5:47
  New
• 5:47
  Zealander
• 5:48
  feels
• 5:48
  like
• 5:48
  they
• 5:48
  work
• 5:49
  really
• 5:49
  hard
• 5:49
  and
• 5:49
  don't
• 5:49
  get
• 5:49
  much
• 5:50
  back.
• 5:50
  So
• 5:50
  I
• 5:50
  think
• 5:51
  they
• 5:51
  look
• 5:51
  at
• 5:51
  something
• 5:51
  like
• 5:51
  this
• 5:51
  and
• 5:52
  it
• 5:52
  feels
• 5:52
  like
• 5:52
  they're
• 5:52
  finally
• 5:52
  getting
• 5:53
  something
• 5:53
  back,
• 5:53
  particularly
• 5:54
  for
• 5:54
  their
• 5:54
  kids.
• 5:55
  A
• 5:55
  lot
• 5:55
  of
• 5:55
  people
• 5:56
  really
• 5:56
  worry
• 5:56
  about
• 5:56
  their
• 5:56
  kids.
• 5:57
  So
• 5:57
  yeah,
• 5:58
  I
• 5:58
  think
• 5:58
  a
• 5:58
  lot
• 5:58
  of
• 5:58
  people
• 5:58
  will
• 5:58
  be
• 5:58
  interested.
• 5:59
  You
• 5:59
  talk
• 5:59
  so
• 5:59
  much
• 6:00
  about
• 6:00
  Kiwisaver.
• 6:00
  Do
• 6:00
  you
• 6:01
  actually
• 6:01
  think
• 6:01
  shifting
• 6:01
  the
• 6:02
  mindset
• 6:02
  to
• 6:02
  starting
• 6:02
  to
• 6:03
  think
• 6:03
  about
• 6:03
  it
• 6:03
  actually
• 6:03
  as
• 6:04
  something
• 6:04
  that's
• 6:05
  consequential
• 6:05
  from
• 6:05
  the
• 6:06
  time
• 6:06
  you
• 6:06
  are
• 6:06
  born
• 6:07
  gets
• 6:07
  people
• 6:08
  thinking
• 6:08
  about
• 6:08
  it
• 6:08
  in
• 6:08
  a
• 6:09
  real
• 6:09
  way?
• 6:09
  Well,
• 6:09
  look
• 6:09
  at
• 6:10
  how
• 6:10
  much
• 6:10
  those
• 6:10
  numbers
• 6:10
  jump
• 6:11
  after
• 6:11
  you
• 6:11
  just
• 6:11
  give
• 6:11
  it
• 6:11
  a
• 6:12
  few
• 6:12
  more
• 6:12
  years.
• 6:12
  You
• 6:12
  know,
• 6:13
  by
• 6:13
  the
• 6:13
  time
• 6:13
  you
• 6:13
  get
• 6:13
  to
• 6:13
  18,
• 6:14
  3000,
• 6:15
  300,
• 6:15
  it
• 6:16
  doesn't
• 6:16
  feel
• 6:16
  like
• 6:16
  much.
• 6:16
  It's
• 6:17
  money
• 6:18
  that
• 6:18
  you've
• 6:18
  started,
• 6:19
  but
• 6:19
  by
• 6:19
  the
• 6:19
  time
• 6:19
  you
• 6:19
  hit
• 6:19
  65,
• 6:20
  81K.
• 6:21
  So
• 6:21
  it's
• 6:21
  that
• 6:21
  time.
• 6:22
  Starting
• 6:22
  people
• 6:22
  as
• 6:23
  soon
• 6:23
  as
• 6:23
  possible
• 6:24
  is
• 6:24
  so
• 6:24
  powerful.
• 6:25
  The
• 6:25
  more
• 6:25
  time
• 6:25
  you
• 6:26
  have,
• 6:26
  the
• 6:26
  less
• 6:26
  money
• 6:26
  you
• 6:26
  need
• 6:27
  to
• 6:27
  make
• 6:27
  a
• 6:27
  big
• 6:28
  difference.
• 6:28
  So
• 6:29
  I
• 6:29
  think
• 6:29
  getting
• 6:29
  people
• 6:29
  started
• 6:30
  early,
• 6:30
  getting
• 6:30
  them
• 6:31
  learning
• 6:31
  by
• 6:31
  doing,
• 6:31
  getting
• 6:31
  them
• 6:32
  seeing
• 6:32
  how
• 6:32
  it
• 6:32
  can
• 6:32
  work
• 6:33
  on
• 6:33
  their
• 6:33
  behalf.
• 6:34
  All
• 6:34
  good
• 6:34
  stuff.
• 6:34
  Frances
• 6:35
  Cook,
• 6:35
  independent
• 6:36
  financial
• 6:36
  journalist.
• 6:36
  Always
• 6:37
  a
• 6:37
  pleasure
• 6:37
  to
• 6:37
  have
• 6:37
  you
• 6:37
  in
• 6:37
  the
• 6:37
  studio.
• 6:38
  Thank
• 6:38
  you
• 6:38
  for
• 6:38
  joining
• 6:38
  us.
• 6:39
  This
• 6:39
  podcast
• 6:40
  can
• 6:40
  only
• 6:40
  give
• 6:40
  you
• 6:41
  general
• 6:41
  information
• 6:41
  about
• 6:42
  how
• 6:42
  things
• 6:42
  work
• 6:43
  in
• 6:43
  most
• 6:43
  situations.
• 6:44
  It's
• 6:45
  not
• 6:45
  individual
• 6:45
  financial
• 6:46
  advice.
• 6:47
  If
• 6:47
  you're
• 6:47
  after
• 6:47
  that,
• 6:48
  a
• 6:48
  financial
• 6:48
  advisor
• 6:49
  is
• 6:49
  always
• 6:50
  the
• 6:50
  best
• 6:50
  bet.