It is a retirement savings scheme which you can normally access after the age of 65, and KiwiSaver can be used as a deposit on your first home.
Having a KiwiSaver Account is only part of the equation; making sure you have the account set up and your KiwiSaver funds managed the best way for you and your situation, is really important.
Within our Booster KiwiSaver Scheme, there are types of funds which you can choose to place your KiwiSaver deposits. These funds include:
Conservative Fund - Includes Enhanced Cash Fund, Capital Guaranteed Fund, Default Saver Fund, Moderate Fund and Socially Responsible Investment Moderate Fund.
Balanced Fund - Includes Balanced Fund and Socially Responsible Investment Balanced Fund.
Growth Fund - Includes Balanced Growth Fund, Shielded Growth Fund, High Growth Fund, Socially Responsible Investment High Growth Fund and Geared Growth Fund.
Looking at the number of years before you can access your KiwiSaver savings (e.g. for a first home withdrawal or retirement) is one of the key factors when determining what funds would be best for you. As a general guide, if its 15 years or more, you might consider a High Growth Fund, if its 10-14 years a Growth Fund, for 5-9 years a Balanced Fund, and a Conservative Fund for shorter periods.
But don’t worry, we will go through all of this with you.
We’re based in Tauranga but work alongside you, wherever you are in New Zealand. We provide information based on investment strategy, risk return profile and your financial goals, so you can make the best decision for you, no one else.
You might have heard people talk about using their KiwiSaver account as a deposit to secure their first home…let’s explore this some more.
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