Author Archive | Moneymax

Feeling Wealthy

Feeling Wealthy

The concept of wealth is a mind-set rather than a number. There is no such thing as a threshold of net worth which, once exceeded, defines you as wealthy. Quite simply, you are wealthy if you feel wealthy. Research shows that most people feel they are not wealthy regardless of their net worth. Robert Frank, […]

Continue Reading
OLYMPUS DIGITAL CAMERA

Planning For Retirement

Your retirement years are around a third of your adult life and it’s worth planning ahead to make sure they are the best years of your life. Approaching retirement age is a bit like running up to the finishing line after a marathon race. A big spurt of effort is needed just at a time […]

Continue Reading
Rainy Days

Rainy Days

At this time of year it is a good idea to prepare for rainy days. That’s not just the wet stuff! Rainy days cause problems with our financial affairs as well, hence the old adage about saving for a rainy day. These days we are ever conscious about insulating our homes and putting in efficient […]

Continue Reading
Community Foundations NZ

Investing Forever

New Zealanders have always been good at giving to others. Whether it is selling sausages, baking for a cake stall or running errands for elderly neighbours, most Kiwis pitch in at some stage in their lives to lend a helping hand. Our generosity is also to be seen on collection days for charities and in […]

Continue Reading
KiwiSaver Fees

KiwiSaver Fees

There has been much talk lately about KiwiSaver fees and the impact this has on the value of KiwiSaver funds over time. Simplicity KiwiSaver is a recent market entrant which prides itself on low fees and uses this as a selling point. The Financial Markets Authority (FMA) has recently changed the way in which KiwiSaver […]

Continue Reading
Good Times

Make the Most of Good Times

Life has seasons. There are good times and bad times, and the changes are often caused by factors outside our control. At a personal level, our health, employment status and family relationships can all work either in our favour or against us. At a higher level, the economic state of the region we live in, […]

Continue Reading
Lessons From Your Garden

Lessons From Your Garden

If you want to know how to manage your money and create wealth, look no further than your garden. The principles you use to create a beautiful, flourishing garden are exactly the same as you need for wealth creation. Let’s say you are starting with a bare piece of land to create your magnificent masterpiece. […]

Continue Reading
Balance

Get Your Financial Balance

Managing money is more of an art than a science. There is no right and wrong when it comes to managing money. It is simply a matter of finding the right balance. That means looking at the choices you have and the consequences of each so as to achieve a compromise between competing objectives. Everybody’s […]

Continue Reading
Health Insurance

Is Health Insurance Worth the Cost?

One of the biggest dilemmas for people with a limited budget is whether it is worth taking out health insurance. This group of people includes retirees, young people at the beginning of their career and couples with young families. For retirees the dilemma is magnified, because both claims and premiums escalate very quickly with age. […]

Continue Reading
Age Gap

Dealing with an Age or Health Gap

Retirement planning is not easy, and it’s made even harder when there is a significant difference in age or health status between two partners in retirement. It is not uncommon to have an age gap of ten or more years, or for one partner to have a life-threatening or debilitating illness. In these cases, the […]

Continue Reading
Have Your Cake

Why Retirees Needn’t Be Conservative Investors

Conventional wisdom says that once you are retired you shouldn’t take risks with your money. That’s good advice, however it doesn’t mean you need to be a ‘conservative’ investor. It simply means that if you invest in assets such as shares and property which have a high return but high volatility, you need strategies for […]

Continue Reading
Transition

Transition to Retirement

Compulsory retirement ended in New Zealand in 1999, and since then, the percentage of people over the age of 65 who are working has rapidly increased. It is estimated that 27% of men and 17% of women aged 65 or more are working – some through choice and some because they cannot afford to retire. […]

Continue Reading