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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...

October 14, 2013

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'. ...

October 9, 2013

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...

September 19, 2013

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...

September 19, 2013

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.  ...

September 19, 2013

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.   ...

September 6, 2013

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. ...

August 22, 2013

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. ...

August 22, 2013

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?  ...

August 22, 2013

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. ...

August 11, 2013

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...

August 9, 2013

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 ...

August 4, 2013

Fidelity Life completes purchase of Tower insurance business

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August 1, 2013

KiwiSaver Performance - Morningstar Survey June Quarter 2013

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August 1, 2013

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...

July 30, 2013

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,...

July 27, 2013

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 ...

July 26, 2013

$112 million - going going.... Is any of it yours?

Every couple of years, the IRD contacts the media and they run a story like the one below. ...

July 24, 2013

Student Allowances and First home buyer subsidy- the rules

The ability to withdraw yours and your employers contributions from your KiwiSaver, for the deposit on your first home is a valuable feature of KiwiSaver.  There are not many limitations on this feature of KiwiSaver. ...

July 23, 2013

First Home Buyer Subsidy - KiwiSaver

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July 23, 2013

First Home Buyer Withdrawal - KiwiSaver

An important feature of KiwiSaver is the ability to withdraw your contributions from KiwiSaver to purchase a first home. ...

July 23, 2013

Understanding the Global Financial Crisis (GFC) - a humorous look

Since the second half of 2007 in New Zealand and then for the rest of the world in 2008, our economies, investment markets and the general environment has been through a tough time.  At times it was hard to laugh. But thanks to John Clarke (of Fred Dagg fame), spend 2 1/2 minutes laughing at what happened. Sadly a lot of it is true (even though it is tongue in cheek.)  Check out the YouTube Clarke and Dawe channel for more like this. http://www.youtube.com/watch?v=QJYWyTwhxo0&list=SPDB223...

July 22, 2013

Bringing your Aussie Super back to NZ - into your KiwiSaver

Well - its' finally here.  With a few hiccups... But you should now be able to start the process to bring your Australian ...

July 22, 2013

How do you get 'free money' from KiwiSaver? - [video]

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June 30, 2013

Dumb Ways to Die - [video and poll]

None of us want to die, or to think about dying, but if we have to die, wouldn't it be cool to die in some weird way? Check out these new and interesting 'dumb ways to die' in this promotional video clip.  This was made by Melbourne Metro Transit to warn people about the dangers of the rail system. When you've watched it, go to our Facebook Page and vote in our poll - about your favourite dumb way to die. ...

June 28, 2013 Posts 426-450 of 538 | Page prev next
 

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