KiwiSaver — making families better off for ten years
When KiwiSaver was launched, it not only offered me a secure and trusted method to save for retirement, but I quickly realised my husband and kids could really benefit too.
The Goulds, Albany
We think one of the best things about KiwiSaver is that anyone under 65 can join. It means that all across New Zealand there are now thousands of families where every family member is enrolled in KiwiSaver and saving for their future. This was just not possible ten years ago — and we think that's pretty cool, and more importantly, it's pretty smart. One such family are the Goulds who live in Albany in Auckland. Mum, Dale shares how KiwiSaver has helped her family through thick and thin.
"As parents managing your money is really important. It can be a balancing act juggling the short term spending pressures that come with kids alongside the need to save for your later years. When KiwiSaver was launched, it not only offered me a secure and trusted method to save for retirement, but I quickly realised my husband and kids could really benefit too.
"My husband David retired early due to disability so we've chosen to just save enough into his account each year to ensure he gets the full annual government contribution of $521. Even this small commitment can really add up over 10 years. I'm luckier and get the extra contributions from my employer so my savings have done amazingly well. I've loved watching my balance grow.
"But it's my boys that I'm most delighted about. We enrolled our sons early to get the $1,000 kickstart (such a shame they dropped it) and it has really helped them get ahead.
"Our eldest son has just managed to purchase his first home in the Auckland market (no mean feat). There's no doubt that being able to call on his KiwiSaver money made the difference. Of course, this has spurred his younger brother on and he is determined to soon follow.
"They've experienced first-hand the power of regular saving and this has given them a fantastic start to their adult lives. I just hope they keep it up without Mum badgering them every day!
"So, as you can see for our family, KiwiSaver and Fisher Funds have done really well for us, thanks from the Goulds."