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Pets at Christmas [Infographic]

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Curb your Christmas Spend

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How is your KiwiSaver going?

Our most popular KiwiSaver blog posts are when we publish a commentary on the investment returns on KiwiSaver funds. We use the publicly available Morningstar KiwiSaver Performance Survey, which is updated each quarter. Here is the latest survey. Morningstar KiwiSaver Survey to end of September 2013 ...

KiwiSaver fees - how important are they really?

With the recent release of the new Sorted KiwiSaver Fund Finder (see the following blog post How is your KiwiSaver going?) several prominent commentators have been vociferous in their opinions that 'total fees are the most important factor' in choosing your KiwiSaver provider. ...

How are you more likely to die? [Infographic]

This amusing infographic reminds us to make the most of life (and to have all our life insurance in place and up to date!).  Check out some interesting statistics on what the likelihood is that you will be killed by part of an aircraft falling on you, being eaten by a shark, or just walking across the road! ...

Do you have super in the UK or USA? Or have you brought it back since 1st January 2000?

The rules are changing on 1st April 2014 and it affects you.  This DOES NOT affect any Australian superannuation you may have in place. The tax rules around transferring your super to New Zealand have been complicated and unclear.  As a result, the Government have 'clarified' these tax rules.  Although the new legislation is effective on 1st April 2014, it is important to note that it applies to ALL TRANSFERS FROM 1st JANUARY 2000.  ...

Top 10 Bizarre Insurance Claims (with thanks to Listverse.com)

Top 10 Bizarre Insurance Claims (with thanks to Listverse.com) Have you ever been hit by a flying Christmas tree while driving? Claimed that your mobile phone got wedged in the back end of a cow? Prepare for deep immersion, readers, into the world of bizarre insurance claims – some of them spectacular, some of them sad, and some of them inviting a hearty WTF?! 10 Back End of the Beast ...

Gifting to Trusts and Residential Care Subsidies - you can gift less than what you might think...

In New Zealand, we seem to have a love affair with the Family Trust (or correctly, the Discretionary Family Trust.) It appears that we have more Trusts per head of population than other countries.  The Law Commission review on Trust law estimates that there are between 300,000 and 500,000 Trusts in New Zealand.    ...

How many assets can you hold on to if you go into residential care?

With the recent Court decision about how much 'gifting' can be protected from residential care subsidy assessment (Gifting to Trusts and Residential Care Subsidies – you can gift less than what you might think… ) we thought it would be useful to provide an update on how much of your assets you need to use up paying for your residential care before the Government subsidy kicks in. Historically this amount of assets was locked at a static level.  However, now it increases with inflation each...

Bonus Bonds - the money or the bag?

If you have been around for a while like me, you will remember Selwyn Toogood, Teneke Bouchier and 'the money or the bag'?  Its in the Bag was a much watched game show in the 1970's in NZ.  After answering questions correctly, contestants got to choose 'the money or the bag'.  They knew how much the money was, but choosing the 'bag' was a lottery.  It could be a 'booby prize' - like a clothes peg, or something amazing and worth far more than the 'money'. ...

Broken bones and mortgage and income protection insurance payments

The best insurance cover is the cover that pays out when you need it.  At Moneyworks, our goal is to make sure that your insurance works for you. So, we were thrilled the other day to be able to help a client with an insurance claim, only 4 months after the policy was put in place.  Not all insurance polices are made equal (see other blog articles for more information).  One of the insurers that we recommend to clients is Partners Life.  One of the reasons that we like working with Partners...

High fees for running a Trust - are they worth it?

Over the last few years, I have had a number of my clients with Family Trusts ask my advice on whether they should retain the Trust going forward.  As part of providing financial planning advice, we also make recommendations to our clients about whether a Family Trust is relevant for them or not. Although having a Trust can be seen as 'sexy' and 'fashionable', for people who are not self employed, and are in stable long term relationships, we often come to the conclusion that the disadvantages...

ACC will pay me... Are you sure? Check out the'degeneration' wording

If you are anything like me, as you are getting older, the bones are starting to creak a little and ache a little (particularly during or after exercise.) Until a universal youth elixir is invented, aging is part of reality. As we get older, there is also a higher risk that we will get injured or ill and be unable to work for a period of time.  But, you say, that is okay, as I am covered by ACC.  Yes, and no.  ...

How a leading insurer manages income protection insurance claims [Sovereign]

This article is from a Sovereign adviser newsletter.  At Moneyworks, one of our clients has greatly benefited from being a Sovereign client at time of income protection insurance claim.  Check out her story here.  Adriennes story. We thought you might be interested in the Sovereign approach to claims.   ...

What is your number? - How long will you live for?

When are you going to die?  Sometimes I think it would be nice to know that, other times I just have no interest in knowing - a long time away I hope!!! But, as a core part of our financial planning, we need to make some assumptions about how long we are going to live.  That is so that we can work out how much needs to be saved to provide enough money to live on.  The goal of financial planning is to make sure that you have enough money to achieve all your goals. ...

New rules for borrowing money to buy a house - what does it mean?

Do you own your own home (well, in conjunction with the bank)? Or are you waiting to get on the property ladder?  Or are your children or friends waiting to purchase their first home?  As New Zealanders, owning our own home has historically been considered almost as a 'right'.  But with soaring house prices in the main centres, the dream seems to be getting more and more out of the ordinary kiwi's reach. ...

What is your number - KiwiSaver?

Have you participated in the 'What is your number' campaign to see if you can get your Electricity cheaper?  If not, check it out at What is My Number?  ...

KiwiSaver - More help for first home buyers - but only if you can get together a 10% deposit

The Government today announced changes to the criteria for first home buyers to use their KiwiSaver for the purchase of their first home. ...

How do you use your jellybeans? [video]

What if each year of your life was a jellybean?  How would you use your jellybeans?  What would you do in those spare years? This video gives you a tangible and visual method of thinking about your life planning, your goals and objectives.  When you have watched it, let us know on our Facebook page what you would do with your extra time.   Facebook Moneyworks page If you have any thoughts or opinions that you would like to share, visit us at our Twitter, Facebook or Linked In pages, and c...

Divorce a major blip on financial radar [Martin Hawes - SST]

This is a topic that we don't really like to talk about, but it is happening all around us.  Divorce - or as we often refer to it 'Wealth Division'. There are enough emotions and stress associated with the process of Divorce, without having to start dealing with the financial aspects.  I read this excellent column in the Sunday Star Times today by Martin Hawes.  Frankly, there is not much to add to it, so I have given you the information and the link here.  Martin Hawes gives you excellent ...

Fidelity Life completes purchase of Tower insurance business

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KiwiSaver Performance - Morningstar Survey June Quarter 2013

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How long will you survive if your income dries up? 3 months?

Are you a 'normal' kiwi, or are you in dire straits if you lose your income? This research from Mastercard show that 26% of kiwis can't survive a month without their regular pay. But, on the hand most New Zealander's can access 3 months income if their income stops. So, what are the main three ways that your income would dry up? 1. If you are injured or unwell and unable to work.  After your sick leave and annual leave ends, what are you going to live on?  ACC will kick in for a while if you...

NZ Superannuation age 67 or higher? - well yes...

At present in NZ, all eligible people (NZ Residents who meet the criteria), are entitled to receive a universal income from the age of 65.  This is regardless of whether they are male or female, how much they have earned during their lives, whether they still earn an income, whether they have millions of dollars of assets or nothing. The income is adjusted each year on the 1st April and rises with the increase in the average wage.  There is a different rate if you are single and living alone,...

How life insurance works - Nick's story [video]

Life insurance does work.  This story is from Nick about how the life insurance cover from Sovereign,on ...