Retirement Planning in NZ
Thinking About Today
Retirement is not just the end of a career but a new beginning filled with opportunities to explore passions and enjoy life’s rewards. At Earnslaw Goodlight, we understand that planning for this important milestone requires expert guidance and strategic foresight. Our advisors are committed to providing expert retirement planning services in NZ that are comprehensive and tailored to your personal circumstances.
As you consider your retirement, many questions may arise — when can you retire comfortably, how to manage your income sources, and what strategies best suit your needs? These are not simple decisions, so our team is equipped to offer you the expertise necessary to navigate these complexities.
Our dedicated approach includes:
- Custom-made strategies to maximise your retirement savings and income.
- Ensuring you benefit from all available pension plans and retirement schemes.
- Offering continued support and advice to adapt your plan as circumstances change.
Smart Retirement Planning for Financial Security
At Earnslaw Goodlight, we believe that modern retirement planning is the key to achieving financial security in your golden years. Our expert team understands that no two people are the same, so we take a customised approach to retirement planning. We will assess your financial situation, future goals, estate planning, lifestyle choices, and risk tolerance to create a plan that works for you.
We have helped thousands of Kiwis to secure their financial future through our retirement planning services in NZ. Our team stays up-to-date with the latest trends and developments in the market to ensure your plan is always optimised for success. We can help you retire better through the following services:
KiwiSaver
For many New Zealanders, Kiwisaver will be the second biggest financial investment they make (after purchasing their home). It's success relies on the basis of small consistent deposits over time.
However, simply being part of it, is not enough.
Key areas to understand are;
(a) Will my contributions be sufficient for how how I want to live in retirement?
(b) Am I with a provider who is performing?
We can never get time back, so its vital that it is managed well from the start.
Investing While Working
For the financially astute, they will start thinking about retirement in their 40's.
With the components that they bring to the table, what will the outcomes at retirement be. And, what adjustments are needed.
We will work with you to develop and advice that aligns with your risk tolerance and financial goals.
This advice will show how through using your contributions to invest in bonds, managed funds and shares what the outcomes will be.
Managing Pension Plans
New Zealanders travel and work in many parts of the world. Because of this its common that we will have pension funds in Australia, the UK and the US.
As you work towards retirement, most people want to consolidate their funds back to New Zealand.
In certain cases, and depending on which country, it will require specialist knowledge of tax laws in the country where the funds are held. On arrival in NZ, it may also require specialist management including holding in a special trust account.
We are happy to advise on the process and steps required. Where it is beyond our skill set or custodial trust account we will refer you to a specialist provider.
Investing In Retirement
Investing is a crucial aspect of retirement planning, and our team at Earnslaw Goodlight has the knowledge and experience to guide you through this process. We will help you select the right assets, diversify your investments, and manage risk effectively. With our careful guidance, you can feel confident that your investments are working towards securing your financial future.
Our Process
Our process for retirement planning is designed to be comprehensive, personalised, and focused on your long-term financial goals. It includes the following steps:
Begin your investment journey with a discussion. Talking about you, whats important to you and what you want to do.
At the same time, we are gathering financial information to understand your income and statement of position.
With what we know, we go to work to prepare a Statement of Advice for you. Presenting formally in written form including confirming our understanding, stating our assumptions and then our Financial Advice.
When we agree on what is to happen, after signoff, funds are transferred to the Custodial Trust account set up in your name.
You will immediately be able to see your funds online.
Then we are implementing the plan.
Wherever you are in the world, you can login to your account and see what is happening with your funds.
This includes seeing the balance of the funds, all income received, tax paid and the amounts available to you.
Why Retirement Planning Matters for Kiwis?
Planning for retirement is essential to ensure a comfortable and secure future. For Kiwis, understanding the unique financial landscape of New Zealand makes retirement planning even more crucial. Here’s why retirement planning is important for Kiwis:
Financial Security
Retirement planning helps you build a reliable income stream for when you stop work. By contributing to KiwiSaver and other savings vehicles, you can accumulate the funds needed to maintain your lifestyle after you stop working. Without proper planning, you may face financial challenges that could affect your quality of life during retirement.
Maximize KiwiSaver
KiwiSaver is a powerful tool for saving for retirement, offering government contributions and tax incentives. Effective retirement planning ensures you take full advantage of these benefits. By regularly contributing to your KiwiSaver account and choosing the right fund types, you can significantly boost your retirement savings and achieve your financial goals faster.
Combat Inflation
Inflation can erode the value of your savings over time, making it essential to plan for increasing living costs in retirement. Strategic investments and diversified funds can help your savings grow at a rate that outpaces inflation. This ensures that your purchasing power remains strong, allowing you to cover everyday expenses and unexpected costs without financial strain.
Support Loved Ones
Retirement planning isn't just about you; it's also about ensuring the financial well-being of your family. By establishing a solid retirement plan, you can provide for your spouse, children, and other dependents. This includes setting up trusts, life insurance, and other financial instruments that offer support to your loved ones in the event of unforeseen circumstances.
Leverage NZ Laws
New Zealand offers various laws and incentives that can benefit your retirement planning. Understanding these regulations helps you make informed decisions about your KiwiSaver contributions, tax benefits, and investment opportunities. Proper planning ensures that you comply with legal requirements while maximizing your advantages.
Reach Your Goals
Retirement planning allows you to set and achieve personal and financial goals for your later years. Whether you dream of traveling, pursuing hobbies, or downsizing your home, a well-crafted retirement plan provides the financial foundation to make these aspirations a reality. By outlining your goals and creating a roadmap to reach them, you can enjoy a fulfilling and worry-free retirement.
Live The Life You Want With Professional Retirement Guidance
Earnslaw Goodlight offers personalised retirement planning services tailored to your unique needs. Our expertise in KiwiSaver, investments, and New Zealand laws ensures that your retirement strategy is robust and effective. Let us help you build a prosperous retirement, giving you peace of mind and the freedom to enjoy your later years to the fullest.