Why ignoring your KiwiSaver could cost you $88,000

<p><strong>Each week, BusinessDesk and the NZ Herald’s Cooking the Books podcast tackle a different money problem. Today, it’s how to check if your KiwiSaver is working as hard for you as it should be. Hosted by Frances Cook.</strong></p> <p>It’s the things we know we should do, but never quite get around to, that can be killers in the money world.</p> <p>So I winced, but wasn’t all the surprised, when new research rolled across my desk showing that ignoring your KiwiSaver could mean you have $88,000 less in there by the time you retire.</p> <p>That’s from the new KiwiSaver Value for Money report, from National Capital.</p> <p>Even if you’ve figured out what type of fund you should be in, such as growth or conservative, different providers can give you a better return.</p> <p>Sticking with a provider that isn’t doing so well could cost you big time, or in this case, an average of $88,000.</p> <p>Retirement can feel so far away that it’s easy to ignore - you tell yourself you’ll get around to it soon.</p> <p>Then there’s a panic on at the finish line when you realise you’ve run out of time to make the easy changes that could have saved you tens of thousands of dollars.</p> <p>The good news is that it can be quite easy to make a few tweaks to your KiwiSaver, then sit back and reap the rewards.</p> <p>For the latest podcast, I talked to National Capital director Clive Fernandes.For the interview, listen to the podcast here.</p> <p>If you have a question about this podcast, or a question you'd like answered in the next one, come and talk to me about it.</p> <p>Here is a link to the audience survey: <a href="https://www.surveymonkey.com/r/DRF9TBG">https://www.surveymonkey.com/r/DRF9TBG</a></p> <p>I'm on <a href="https://www.facebook.com/FrancesCookNZ/">Facebook here</a>, <a href="https://www.instagram.com/francescooknz/">Instagram her</a>e, and <a href="https://twitter.com/FrancesCook">Twitter here</a>.</p><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>