1 – 31 AUGUST 2023

Maximise your money in your 20s: 1 – 5 August

Day 5: Get free money with KiwiSaver contributions

Did you know every year New Zealanders fail to secure hundreds of millions of dollars of free money from the Government? That’s because they’re not making the most of one of the simplest benefits of KiwiSaver – the Government contribution.

Get your free money with constant KiwiSaver contributions of just $20.05 per week, or pay 3% of your salary and get more free money from your employer too – why wouldn’t you?

Challenge your savings habits with this useful tip:

Make constant KiwiSaver contributions for a healthy and wealthy retirement

Just by putting $1,042.86 into your KiwiSaver each year by June 30, you get an extra $521.43 placed into your KiwiSaver account – no questions asked. It’s a fantastic benefit and essentially a risk-free 50% return on investment. And with the magic of compounding interest in your KiwiSaver, you’ll benefit even more from it in the long run. For example, just one government contribution of $521 invested for 35 years at 8% return (an average return over the long term) will make over $8000! For just $20.05 per week into your KiwiSaver, why wouldn’t you?

Plus, pay at least 3% of your salary into KiwiSaver and get more free money from your employer who will match your KiwiSaver contribution less tax. The earlier you start saving for your retirement, the financially better off you’ll be later in life. So, continue to make constant KiwiSaver contributions for a healthy and wealthy retirement.

Top tip contributed by:

George Hill | Financial Adviser
GradDipBusStudies (PFP)
Ph 03 964 6081

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