How much money will you need when you retire?
Start saving early and you will meet your retirement goals.
Money! It’s important to most of us, especially in helping us to enjoy our lifestyle.
We’re living longer but we need to have a way to pay for our longer lives especially during our retirement years.
That’s why, while you are working and earning, it’s a good idea to think now about the time when you won’t have your work income to rely on – your retirement years.
That’s when any money you have saved will be important. Planning is the key to an enjoyable and worry-free retirement. If you’ve saved regularly and invested wisely, you’ll be able to enjoy a comfortable lifestyle with plenty of opportunities to do the things you’ve always wanted to do.
Over the next 20 years more people than ever before will reach retirement age. With more people retired and fewer in the workforce, it’s uncertain whether there will be sufficient funds to pay all retired New Zealanders the same level of New Zealand Superannuation that is paid today. And even at current levels NZ Super (which pays a married couple $200 a week each after tax) is hardly enough to sustain most peoples’ lifestyle expectations.
The good news is that most of us can look forward to living longer, the bad news is that NZ Super is likely to reduce. So it’s important that we need to have a way to pay for our longer lives and retirement years.
While it may seem a long time away, the longer you save for retirement, the more enjoyable it will be.
Find out about AXA Personal Superannuation.
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