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Investment Returns - Why assumptions are important

I am sure that you have heard the saying 'there are lies, damn lies and statistics'.  As Wikipedia eloquently says: Lies, damned lies, and statistics" is a phrase describing the persuasive power of numbers, particularly the use of statistics to bolster weak arguments. ...

What does your handwriting say about you?

With the universality of computers, smartphones and tablets, there is not a lot of call for handwriting these days. But, when you do get a sample of someones handwriting, apparently it can tell us a lot about the writer.  Check out this infographic from The National Pen Company for more information. ...

Financial Advisers Act Review - why not make a submission?

The Financial Advisers Act 2008 came into force in 2011 in New Zealand.  It established a range of 'designations' and regulatory rules for financial advisers. The three core designations are: ...

Investment Turbulence - why good financial planning is important

Over the last few weeks, we have seen turbulence in investment markets as a result of the Greek impasse, the over-exuberance of the Chinese sharemarket and the fall in the oil price. This turbulence reinforces the importance of financial planning, having your investments invested in the appropriate risk profile, having them well diversified and having a clear investment and financial planning strategy. ...

Are women bad drivers?

An amusing topic of conversation for all socio-economic groups, ages and sexes. BUT - here is proof - no, women are not bad drivers. Now, there could be a number of reasons for that... Maybe women don't drive as far? As much? Hmmmm. Some light relief for a cold August. ...

Retirement Planning - Why assumptions are important

For most of our clients, have the freedom to retire one day is a core financial planning goal.  For a lot of people, this means having the choice about whether they work, or how much they work, or what kind of work they do. Whilst 'retirement' is changing these days, with a number of our clients transitioning into retirement and spending a period of time 'consulting' or working part time, the reality is that at some time in your life, it is likely that you will end up living on your accumulate...

Moving Office - Going Virtual

Since 2002, Moneyworks have provided services to our clients from a lovely office at 23 Noni Street in Turangi. Our advisers have spent much time travelling and 'on the road'. Since Moneyworks was established in 1997, we have communicated with our clients by email. Technology has always been a core part of the way that we work. But, times change. As technology has become more advanced, we have realised that we don't all have to be based in one location.  Our Mortgage and Insurance specialist, ...

The Value of Investment Conferences

I have worked in the financial services industry for well over 30 years now (yes, all my working career). From time to time, something happens that makes me look back at 'how things used to be'. The financial markets and the world used to be a lot simpler. There were several main local and global investment opportunities and diversification was easy - property, fixed interest and shares.  As with everything else, the world has sped up and become more complicated. As professional financial advi...

Milford $1.5m settlement with FMA

Milford Asset Management has been under investigation by the Financial Markets Authority (FMA) for alleged market manipulation. We advised our Membership Clients on 2nd April 2015.  Since this time, Milfords' mandate from the NZ Superannuation Fund has been suspended, and the FMA investigation has been ongoing.     ...

The Worlds Strangest Laws

And now for something a little lighter.... ...

KiwiSaver First Home Buyer Opportunities increased

When KiwiSaver was launched, one of the key features negotiated was the ability to withdraw your savings and your employers contributions for the deposit on your first home. At the same time, it was announced that first home buyers that had been contributing to KiwiSaver for 3 years or more would be entitled to apply for a First Home Buyers Grant (with eligibility conditions associated.) This meant that couple who were eligible (based on the value of house they were purchasing and their income...

Does your funeral matter?

Since the start of February, five people in my life have passed away.  Fraser (52) after a long and brave battle with Motor Neuron Disease, Peter (78) had prostate cancer, but his death was sudden and Helen (90 1/2) my role model and mentor on how to age with dignity and elegantly.  These were followed by two sudden deaths - my aunt Robyn (68), from septicemia from food poisoning and Matt (52) our long time beloved family lawyer of a massive heart attack. ...

How to get the most out of your Term Deposit investments

At Moneyworks, we help our clients to manage their KiwiSaver accounts and for many of our clients to build an investment portfolio.  The investment portfolio is usually designed to provide them with assets to live off in retirement. For a number of our clients, we also advise them on their portfolio of term deposits, which they hold both within and outside their Investment portfolios.  While managing your term deposits might seem easy, there are a number of things that you can to to optimise ...

How safe are your New Zealand Term Deposits?

In our conversations with people, and during the seminars that we present, we find that most people in New Zealand are under the mis-understanding that their Term Deposit investments with NZ banks are 'safe'. There are three factors to consider when deciding whether these investments are 'safe'. ...

KiwiSaver Statistics and information

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Is KiwiSaver working for you? How do you know?

KiwiSaver is a part of New Zealand life now.  Since it's launch on 1st July 2007 most people know about KiwiSaver, even if some people have not got around to joining KiwiSaver. At Moneyworks, we believe that KiwiSaver should be a core part of all our clients retirement savings strategy.  As a result of the low fees and good returns on KiwiSaver, a number of our clients who have reached the age of eligibility for NZ Super (age 65), where they can withdraw their funds, have elected to leave the...

Can you give someone your internet banking password?

Can you give someone your internet banking password? Well yes, but note that as soon as you do this, you are not covered for any losses that occur from doing this!!  So the answer is actually NO. ...

Stress free holiday checklist

With thanks to OnePath Life - here is checklist that will help you have a more enjoyable Christmas and holiday. I like the comment about hiding your remotes, and not putting valuables in drawers! ...

23 Things to know about money

23 Things to Know about Money before you turn 25 (Actually at any age!) A friend sent me this article and I thought it would be good to share it with you. It is from an American blog www.daveramsey.com. Although it is written from the perspective of a 25 year old, these are lessons that are relevant all through your life. ...

Are you having difficulty in borrowing money for your first home?

With the changes in the Reserve Bank requirements for lending to Loan to Valuation ratios of 80% or more (that is to people who don’t have a 20% deposit on their property) in 2013, more people are finding it difficult to get a mortgage. Or maybe your credit record isn’t as good as you would like? ...

Are you getting the best deal possible with your mortgage interest rates?

When a lender provides you with a mortgage, they want to make sure that they have good security if something was to go wrong.  They need to protect themselves against default on the mortgage.  They look at your income (servicing ability) for the mortgage and also how much they are lending you as compared to the valuation of the property (Loan to Valuation ratio or LVR). ...

Basic rules to consider with your mortgage

Unless you are a ‘trust fund’ child or do not own your own property, you are likely to have a mortgage during your lifetime.  Apart from your ability to earn an income, your  mortgage is likely to be the financial arrangement that has the most impact on your financial success. ...

Gallery

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Warren Buffet Investment Quotes

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Tax refunds, what is the risk that you owe IRD money if you do a tax return?

We have all heard stories about people getting into trouble with the IRD, and owing tax and penalty interest.  Some of the situations where this may happen include: 1. Setting up in business and not setting aside enough of your income to pay GST and tax. 2. Getting Working for Families paid on a regular basis, your income earns and pushes you into the next earning bracket and you end up getting paid too much. 3. Getting a pay rise and your employers PAYE system doesn't take the right amount ou...