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KiwiSaver windfalls: How young people can make the most of savings scheme


When you start, how much you save, and into which kind of fund are the key choices for young KiwiSavers.
“Save 10 per cent of your income, and you will never need to worry about your retirement,” is David Beattie s advice to young people setting up their KiwiSaver accounts.
That’s a big call, but says, Beattie, a fund manager and co-founder of the Booster KiwiSaver scheme, contributing 10 per cent will provide a lump sum of around $700,000 at age 65 for people starting saving at age 18.
That assumes a starting salary of $35,000 which rises at 3.5 per cent a year, and also that the money is invested in a high growth fund, with contributions of 3 per cent from the saver’s employer. ....

Tony Isola , David Beattie , Commission For Financial Capability , Red Centre , Booster Kiwisaver , Westpac Massey Fin Ed Centre , டோனி ஐசோலா , டேவிட் பீட்டி , தரகு க்கு நிதி திறன் , எட் மையம் , வெஸ்ட்பேக் மஸ்ஸி துடுப்பு எட் மையம் ,