Feeling of control : Market watchdog talks about the buzz of being a saver and why spending decisions can take hours Newshub 3 hrs ago Priscilla Dickinson © Supplied. Gillian Boyes, Financial Markets Authority (FMA) manager investor capability spoke to Newshub about the traits that coincide with being a saver. I love the feeling of control that saving gives me. When I do spend, my poor family and friends will attest to me being very deliberate: I’ll spend hours researching, comparing and getting the best possible option. Gillian Boyes, manager investor capability, Financial Markets Authority.
Money. It s the driving factor behind many life choices, but is it the be-all and end-all?
Millennials hit hardest by Covid KiwiSaver fund switch
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High level of KiwiSaver switching during COVID-19 driven by young people
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“Generally speaking, you should be in a high-growth fund the younger you are and the further you are from retirement,” she said. “Growth funds provide the greatest opportunity to maximise returns and although the balance might jump around, young people have plenty of time until retirement age to recover any losses,” Boyes said. The 12,700 figure comes from data supplied to the FMA by 11 KiwiSaver providers.
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Many KiwiSavers did not stay calm in February, April and May 2020 as sharemarkets around the world lost value. There could well have been many more younger KiwiSavers who did the same thing as the data collected covered three-quarters of the KiwiSaver market, Boyes said.