James Laughlin argues you might be overcontributing to KiwiSaver. Secure the employer and government matches (around NZ$20 a week), then drop contributions to NZ$20-30 weekly and stash extra savings elsewhere for easier access.
3%
3%
NZ$20 per week
NZ$20–$30 per week
I say for most people, put just as much into kiwisaver as you get rewards from elsewhere. So from employees, you're putting in your 3%. So that the company is also putting in their 3%. For non employees that self employed or people at home on parental leave or in whatever situation, put in enough to get the maximum from the government. Which means it's basically $20 a week is where all those funny numbers come from. The basis $20 a week. So it's 1,042 years. Yes. So I might pull mine back, what I'm putting into my Kiwi Saver to that roughly 20, 20, $30 a week. And then put the rest, put the rest elsewhere. And the reason for that is just that then you've got access to that other money and you never know when you might need it.
