Cover art for podcast NZ Guide To Financial Freedom

NZ Guide To Financial Freedom

302 EpisodesProduced by Ryan J Melton & Greg MoyleWebsite

Everything you need to know about business, money, and life. https://ryanjmelton.co.nz/

13:32

Ep 139: Is My 8% Return Enough?

Quick Fire Finance of the day: "We’re a couple nearing our 70s, have a mortgage-free house and most of our savings in our own independent KiwiSaver accounts. The thing is both accounts are with the same bank. I say this is an “eggs in one basket” scenario and one of us should change. My husband (and the bank’s financial adviser) says it’s all diversified anyway and we don’t need to. What do you think? It might help settle this running topic between us. We’re aged 64 (retired) and 67 (still working). We’d like to maximize our KiwiSaver returns over the next five years. Despite visiting our provider’s website and sorted.org.nz, I am a little confused as to which numbers to use in my decision making. Our current PRRs (personal rates of return) are 8.16 per cent (in AMP’s Conservative fund) and 8.5 per cent (half in the Conservative fund and half in the Moderate fund). They are for the year ending December 6 2019. AMP says the PRR “calculates your investment percentage return based on the opening balance, the cash flows (eg contributions, withdrawals etc) in the account and the closing balance for the period. The personal rate of return is before tax and net of fees.” Online, the KiwiSaver Fund Finder on sorted.org.nz tells me that the Conservative Fund return for the year ending September 2019 is 5.19 per cent, and for the Moderate Fund it’s 5.34 per cent. So my question is, should we change providers based on Sorted’s relatively low figure for our current provider, or should we consider our PRR as being reasonably good?" Source: DECEMBER 21, 2019 NZ HERALD Q&A COLUMN


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