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One in Five Lie to Their Doctor

Did you tell the doctor the truth when you had your last appointment?  What about that niggling twinge?  What about those extra drinks you regularly have? Although you might feel guilty and know that you should be more ‘careful’, you don’t really want to share the information with your doctor.  But is it really worth the risk? Southern Cross have released the results of a survey taken out in November 2015 uncovering the truth about what people lie about to their Doctors. "Do you smoke...

How would your loved ones create new memories if you died? [Infographic]

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Why do you want your fund manager to ‘eat their own cooking’?

When researching funds managers that we will recommend to our clients, one of the factors that Moneyworks looks at is whether the people managing the fund actually invest their own money into the fund. This is a question that we need to ask the individual fund managers, as there is no disclosure requirement in New Zealand or Australia at present about this issue.  However, in the USA, the SEC requires funds to disclose how much each fund manager invested in his or her fund. ...

ACC – not the complete solution

ACC was created to ensure that if any New Zealander had an accident and needed treatment, or was unable to work, the State would ensure that the treatment was paid for.  It was an idealistic scheme and was originally intended to extend to cover illness. In the 40+ years since ACC was created, it has evolved through changes to legislation and is no longer as clear cut as it was intended. ...

The Five Second Rule

This is for everyone - not just procrastinators. Thanks to Xero for sharing this from their XeroCon. Mel Robbins created the premise for one of the most powerful TED Talks of all time when she couldn’t get out of bed. Mel is a Human Behavior Specialist and entrepreneur, and created the Five-Second Rule while her and her husband were going through a difficult time in their professionals lives. Today, the video of her TED Talk has clocked more than 7,000,000 views. Speaking at Xerocon in San Fr...

Lifetime Retirement Income Financial Solution

During August 2016, we held two seminars, one in Hamilton and one in Cambridge  called 'Practical Retirement Income Solutions'. ...

Take a break - its almost as good as a holiday

I recently read about a study that showed that taking some time out of your dad to relax your mind and 'switch off' can refresh your focus on your work. Here is a great 5 minute - break - and aren't Gene Kelly and Fred Astaire just amazing dancers? When Michael Binder saw the mega viral hit that featured a bunch of dance scenes from popular movies matched up to the incredibly popular song, “Uptown Funk,” he was instantly inspired to do a similar mashup, only he wanted to use dance scenes fr...

KiwiSaver and Ethical Investments

Last week it was brought to the media’s attention that a number of the KiwiSaver Default funds had investments in companies that are blacklisted by the NZ Superannuation Fund.  These can range from firms that make cluster bombs, mines, or that make profits from the sale of tobacco. ...

Karaoke with James Cordern and Adele

James Cordern from the Late Late Show has put together a variety of 'Karaoke' skits where he picks up famous performers and drives them around, while doing Karaoke to their songs.  They are a good distraction when your brain is hurting. I thought of putting up Red Hot Chili Peppers - but thought that his one from Adele might be more universally appreciated. While home in London for the holidays, James Corden picks up his friend Adele for a drive around the city singing some of her classic song...

Special Events Increase Benefits on your life insurance cover

When we meet with our new clients, we do an analysis of the amount of insurance that they require.  When clients become Membership Fee clients, we check that the level of insurance cover each year is appropriate. However, from time to time, things change in your life (even if you got the correct level of insurance cover to start off with) and you need more insurance cover.  In addition, because we don't meet with our non membership fee clients regularly, your insurance might not be keeping up...

Changing rules on UK pension withdrawals in New Zealand

If you have worked in the UK and contributed to a pension scheme, this article may affect you. For New Zealanders who have UK Pensions, the rules around accessing these pensions and bringing them back to New Zealand are getting more and more complicated.  Prior to 2012 it was possible to transfer your UK pension to New Zealand, and depending on the scheme that you were in in the UK and the scheme that you transferred to in New Zealand, it was possible for you to be able to withdraw those funds...

Residential Withholding Tax on offshore persons - could it affect you?

From 1st July 2016 - a new tax relating to residential property will be in force.  This tax (the Residential Land Withholding Tax RLWT) applies to 'overseas investors'.  BUT it is important to note the definition of 'overseas in this legislation - IT COULD APPLY TO YOUR ENTITY. From 1st July - any entity that has an overseas connection will be subject to this RLWT if they sell residential property within two years of acquisition.  This tax has been designed and developed to try and slow d...

Dodging your tax is a dangerous game.

Like many people in business, I find Provisional Tax and GST to be one of the more stressful aspects of life.  Fortunately - after 17 years !!! I managed to create a system that eliminates the stress and makes my life a lot more pleasant.  One of the problems with tax is that the rules are continually changing and it can be difficult to keep up with the new rules. ...

The Clbuttic Mistake

I read this article in the Guardian and found it amusing. Here is some more information - as some light relief. Fortunately - these days, the software is a little bit cleverer and there aren't as many instances - but it shows how technology can go wrong.   ...

John Clarkes take on Panamanian Tax Trusts

A light viewpoint of the validity of Panamanian Trusts ...

Positive 'tweaks' to KiwiSaver 'second chance' first home buyer rules

A unique feature of NZ's Retirement savings scheme KiwiSaver is that KiwiSaver members can withdraw their funds to put towards the purchase of their first home.  If this is your first home, then the process is quite straightforward, with some additional features if you are building a home.   ...

Preferred News Sources Around the World

Despite the rise of websites and search engines as alternatives to "classic“ news sources such as television, newspapers and the radio, the TV is still the news source most people around the globe rely on. That’s the result of a global survey of more than 30,000 online consumers across 60 countries conducted by Nielsen. When asked where they get the news, 53 percent of the global respondents named the television as one of their go-to sources. Search engines and social media sites were the s...

How much do you need to spend on home maintenance in retirement?

When you are working and earning a good income, you are able to keep up with the maintenance requirements of your home.  However, when you retire and are living off a defined income and capital, juggling the demands of a high maintenance home with day to day living costs becomes more difficult. ...

When will your insurance not pay out?

The goal of having insurance is to have it work for you when you need it.  Unfortunately, sometimes insurance companies don't pay out on a claim on insurance, and this can give the insurance industry a bad name.  As your financial adviser, we work with you to make sure that you declare everything that you are aware of to an insurer when you are completing an insurance application. ...

Do you have a photographic memory?

I know that having a photographic memory is rare (and valuable), but I did this test with fingers crossed and hopeful. When I am studying I can remember pictures of the mind maps that I have drawn in various colours, so maybe....   ...

When cheap insurance may not be the best (Youi controversies)

As your financial planner, our goal is to make sure that you have all the financial solutions in place that will help you achieve your goals.  This includes your life, trauma, health and income protection insurance cover.  But as part of our job, we want to ensure that you have fire and general insurance (house, contents, vehicle, boat) in place that will work for you. Fire and General insurance cover is a specialist area of advice, one that we are not experts in.  We aim to make sure that y...

New Zealanders are Fat and in Denial About it, Says Survey

Independent research conducted for the annual Cigna 360° Wellbeing Score found that of the study comparing 11 countries New Zealanders were not only the chubbiest, but were "wildly off the mark" in estimating how fat they were. "I think it's normal to be overweight now," New Zealand Nutrition Foundation dietitian Sarah Hanrahan said. "More than half the population is overweight. You will see more overweight than you will see within the normal weight range, and in some parts of town it wi...

Does your financial adviser really care about your interests?

The Financial Advisers Act 2008 was enacted to increase the responsibility of Financial Advisers towards their clients.  The current legislation is complicated with a number of definitions that confuse people.  To understand the legislation, you need to understand: ...

Use a 2 minute Super Hero pose – and increase your confidence!

Most of us know that your ‘body language’ can be read, with several TV series using an understanding of body language cues to tell when people are uncomfortable or telling lies. ...

Managing your retirement investment funds – the risks of living off interest from fixed interest investments only

In New Zealand, NZ Superannuation is a generous after tax income provided by the Government.  At present, this is $30,000 after tax for a couple where both qualify with no means or asset testing.   ...