Saturday, 15 November 2014

The KiwiSaver Experience

One Kiwi's view on KiwiSaver

I decided to stray off the path a little here and write a post about my experience with the KiwiSaver scheme.. I am surprised to met people who think twice about joining even now in 2014 and when you think of how much they could have saved by now.
 For me joining the KiwiSaver scheme was perhaps one of the best moves I made. Talking my husband into signing up not long after was the second best move. In a very short time we saved a lot of money. In the early days the top up was a little over 1000$ each year depending on how much you have contributed, and that certainly made a huge difference to the balance. Now the top up is half that but the savings still grows.

A Chance To Purchase

My income has always been at the low end of the scale yet when KiwiSaver came along I did not even have to consider the option to join or not I just knew it was wise and that I would learn to live without the small percentage of my wage that I contribute each week. I did not even miss it.

We Bought a House in 2012.

The chance came up to try and purchase a house. My mother was terminally ill and a house next door to where she lived had been on the market for a year. I had been running into town from a farm house we rented for 5 years 7 days a week to help her and so as the help she needed was becoming more time consuming  I had plenty of motivation to find an  easier solution. Plus I always wanted my own house.
 I went to the auction on the house next door and was amazed at the low bids put in . It  did not sell and that got me thinking. I had saved a little and after going over figures on a mortgage calculator and looking at savings along with home start help through our KiwiSaver I figured we had nothing to loose so decided to give it a go.
We got lucky and purchased the property. With out the added help from KiwiSaver the outcome may not have been successful. It helped so much and the good news our top ups and employer contributions stayed in out KiwiSaver accounts and now after 2 years .
Sadly Mum 's illness won over 9 months later. She was so happy that we had a house and enjoyed watching us put the gardens in .
 I love the house and it is great owning our own home and also have a tidy balance which is being added to each week to help with our retirement.

Sum It Up

It pays to join KiwiSaver in my view, a good move to make.

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