6 vital things to get done before retirement

It's never too early or too late to start planning

  1. Take care of the big-ticket items – Have you been postponing some repair work around home, scared to even think about how much it is going to cost you? You might be able to live with an out-of-date bathroom, for example, but if your roof need repairing, get it done before you are on a retirement budget. 
  2. Pay your debt – This is a big one. Will you retire mortgage free? Sometimes just changing the structure of your home loan can help you pay it off sooner. We have some ideas if you want to make sure you are on the right path.
  3. Maximise your KiwiSaver - How has your KiwiSaver been performing? Are you in the right fund with the right tax rate? KiwSaver is a great tool for building your nest egg, make sure your money is working hard for you - it could mean having thousands of dollars more by the time you retire.
  4. Discuss your plans with your spouse or partner – Have you asked your spouse or partner what they want to do? If one of you wants to travel while the other wants to stay home and look after grandchildren or spend the days gardening for that matter, it could create conflict on how you spend your retirement dollars.
  5. Commit to a budget – The tricky thing about retirement savings is that you don't know how long they will need to last. These days, you can expect to live in retirement for 30 years, or even more. Having a budget is essential. Overseas trips, new hobbies, visiting family and the day to day stuff all need to be contemplated.
  6. Make a plan for your free time – You've worked all your life towards these golden years, make the most of them! You will have the time to spend on your favourite pastimes, but if you don't have a hobby, it would be good to find something you enjoy doing.

What's the Apex story?

Glad you asked. It all started some 30 years ago when a young adviser set off to change the world of financial advice. Since then, the company has grown to a bigger and stronger adviser force, yet staying true to what we set out to do from day one:  helping kiwis make good decisions. Today, Apex Advice is one of the country’s biggest financial services companies outside of big corporates, servicing around 50,000 clients and it remains 100% New Zealand owned.

 

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