Money Week 2021
Sorted’s Money week is back for 2021 and will take place from 9th – 15th August. Organised by the Commission for Financial Capability, Money Week aims to raise New Zealander’s financial capability by helping them understand money better and improving their financial wellbeing.
Following on from last year’s successful theme of ‘Just wondering’, over a thousand questions were submitted during last year’s campaign from Kiwis, wanting to know more about KiwiSaver, investing, property, spending plans and retirement. The focus is once again encouraging Kiwis to keep asking questions during the week, to talk openly about money and ask for help.
Some of Sorted’s top questions of Money Week 2020 were:
- “How can I budget when I’m a shopaholic?”
- “Should I be putting more or less money into KiwiSaver now?”
- “How soon should I start saving for retirement, and do I really need a million dollars to retire on?”
Here are some helpful tips from these questions* -
- Make a budget / spending plan that covers all categories of your spending, it makes it easier to stay on track.
- It’s never too early to start saving and planning for retirement – Depending on what your lifestyle goal for retirement is, it helps to have a look at what retirees are spending today in terms of a “no frills” or “choices” lifestyle. Massey University 2020 survey is a great start.
- You can also use the Mercer Retirement Income Simulator to see what your future retirement savings could look like and make a plan on what you think you’ll need to retire on and upkeep the lifestyle you want.
- Unsure if you’re in the right investment fund? To help you decide which fund to be in based on your goals now, ask yourself whether it’s in line with your risk profile, your life stage and whether you’re likely to lose sleep if your investment loses some of its value? Take Mercer’s Risk Quiz to see which fund suits your situation and risk tolerance.
- Not sure where to start or need some help with KiwiSaver or investments? Mercer’s financial advice team can help guide you through these decisions. Call us today on 0508 637 237 to arrange a call back from one of the team.
You can view all of Sorted’s top 10 asked questions from last year here and join in on Sorted’s upcoming Money Week for 2021, a safe, trusted place to get those money questions answered.
*This information is general in nature and may not suit your personal circumstances. Please seek advice before making important financial decisions.