04 March

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Buying an Investment Property: Can You Afford It?

Do you feel like owning an investment property is beyond your reach, something only the wealthiest New Zealanders can afford? If so, you are not alone. Many Kiwis are nervous that rising housing prices are cutting them out of the market before they can get in. The truth is, owning an investment property, or properties are within reach. Reserve Bank data shows that 38% of the country’s housing stock is owned by property investors. Which means you could be one of them, perhaps sooner than you believe is possible. By seeking out the advice of a professional and creating a smart...

18 February

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Creative Ways to Get an Investment Property

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in Financial Topics

It may seem as though there is only one way to have success with an investment property, and that purchasing the right property for you is just out of reach. However, with a little creativity, and some out-of-the-box thinking, you could be able to own an investment property in an unconventional way. Creative tips to get the best investment property Build, not buy Instead of buying a property, consider building a new home. This is beneficial for many reasons, not the least of which is an exemption from the new loan to value ratio limits. For as little as 10% down, you can...

04 February

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Getting Started on Investment Properties

Posted by $sd4QfG1O#e@j24$

in Financial Topics

Are you are saving for your retirement and trying to build your nest egg? It can be difficult to reconcile the idea that spending money could get you substantial net gains. But when it comes to investment properties, spending smart can set you up for a secure financial future. Investment properties basics Start early The trick is beginning early. After all, it makes the most sense to start saving for your future immediately. Don’t be intimidated by the Auckland property market. You can get a valuable property if you know what you’re looking for and where to look. Get help from the experts The best...

21 January

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Your Cheat Sheet to Understand Your Inheritance

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in Financial Topics

There are many tax and legal pitfalls to navigate when you have inherited any sum of money. Because of these complexities, it is important to consult an expert to help you understand your inheritance to make the best decisions. Steps to understand your inheritance Know what kind of inheritance Trust The most important thing is to know what type of inheritance you have received. It may be in a trust, investments, or in the form of property. If the money left to you is in a trust, it will typically be managed by a trustee, such as an investment adviser, banker, lawyer, or other family...

07 January

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How to Make Use of Your Inheritance Wisely

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in Financial Topics

Receiving an inheritance in the form of a large sum of money is a double-edged sword. Yes, you’ve received an influx of cash or assets. But at the same time, you’ve also probably lost someone more important to you than the dollars they’ve left behind. Steps to manage your inheritance Get over grieving first The first thing to consider when managing an inheritance is not to make any snap decisions. Grief can spur people to do things that they might come to regret. And even if your inheritance comes from a distant relative, or one who lived a full life, careless spending is...

24 December

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Managing Your Child’s College Fund 101

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in Financial Topics

Crib? Check. Nappies? Check. Onesies? Check. When preparing for a new baby, the checklist seems simple enough. One item that is often overlooked, or put off in favour of more immediate concerns, is a college fund. Start your child's college fund early Experts say it is never too soon to start putting money away. According to ASB general manager of wealth Jonathan Beale, contributing just $100 a month to a managed fund in the current market would be putting in $24,000 in 18 years. Averaging a 5% growth rate each year nets you $36,000 for your child’s university education. Fully one-third of...

10 December

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When is the best time to start saving for retirement?

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In your early 20s, it can seem as though the future is only as far as tomorrow, or the weekend, or your next paycheck. 40 years seem so far away. You may be lulled into thinking you have all the time in the world to prepare for your retirement. However, when it comes to retirement savings, the preparation is in those four decades that you spend working. Retirement Basics How much do you need? According to research done by Massey University, a single person living in Auckland, Wellington or Christchurch need to have over $100,000 by age 65 just to get by with the basic...

26 November

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Affording College: What Are the Options?

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Helping young adults to choose the right college isn’t the only worry facing parents today. The rising cost of education is putting some families in a bind. Is there a “best way” to save for your children’s future? College financing options Managed funds Managed funds are great if you have more than 10 years to save. These investment schemes help to maximise growth potential, but it can be difficult to choose a high-performing fund. You also have to be prepared to weather the ups and downs of an ever-changing market. Bank funding If you’re short on time or worry that the fluctuation of the market...

12 November

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Young Professional’s Guide to How to Build Your Savings Account

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Current trends indicate more of us are looking for an experiential living rather than saving pennies for a rainy day. Then when the skies open up, we can be left with nothing to bail us out. So how do we balance experiencing life to the fullest, while still planning for the future? Tips to build your savings account Track your expenses with Excel In the do-it-yourself column, use a simple Excel spreadsheet to keep track of expenses each month. List every bill that needs to be paid, such as housing, utilities, and insurance payments, and the date due. Don’t forget to include expenditures...

29 October

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How to Use Your Credit Card Wisely

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in Financial Topics

As a new student in a mind-boggling sea of first-year orientation activities, one tip hits home. Start strong. If you work hard in early semesters to build up your GPA quickly, you can handle a few lower grades in later years as the work gets more challenging. However, it is almost impossible to recover from a weak beginning, even if you perform amazingly well until graduation. The same is true with credit. It takes many more years to undo the damage of careless spending than it does to absorb a hit with substantial credit already established. Proper ways to handle your credit card When...