Littlewood steps down from Co-Director of Auckland University Retirement Policy and Research Centre, but this veteran expert has wise words … More Michael Littlewood-Superannuation expert
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Tool Kit Finincially-When things turn sour
Rob Stock provides some useful tips when the crisis or squeeze on your finances occurs! http://www.stuff.co.nz/business/money/68658055/personal-finance-your-financial-survival-kit-for-when-life-turns-bearish
Recent communications to Listener Magazine and Sunday Herald
In response to Bernard Hickeys column, this letter was sent to the Sunday Herald. Columnist Bernard Hickey utilises all the … More Recent communications to Listener Magazine and Sunday Herald
Open Letter to Prime Minister John Key, and Labour party Leader Andrew Littlewood
Kiwi Saver, Annuities and Superannuation Protection Association New Zealand Inc The Consumer Voice Protecting Your Retirement Savings June 1, 2015 … More Open Letter to Prime Minister John Key, and Labour party Leader Andrew Littlewood
Kiwi Saver Evaluation Report IRD 2007-2014
Our ever busy Chair, Alec Waugh, has unearthed this overview by IRD of Kiwisaver. I have paraphrased the summary for … More Kiwi Saver Evaluation Report IRD 2007-2014
Kiwi Saver Budget Cut $1000 Kick start incentive
Kaspanz is disappointed at today’s Government’s decision to immediately stop the Kiwi Saver $1000 dollar kick start incentive. Consumers want … More Kiwi Saver Budget Cut $1000 Kick start incentive
Private and Employer Managed Superannuation Schemes
Despite the introduction of Kiwisaver there are still 457 private or Employer Managed Superannuation Schemes, with 380,000 members in NZ. … More Private and Employer Managed Superannuation Schemes
Annuities keep money coming in
Diana Clements has written a solid article in the NZ Herald May 2 2015 edition on the value of annuities, … More Annuities keep money coming in
Annual Reminder on Tone of Contributions
Against some opposition, I made a decision on starting the Kaspanz website, that no style, spelling or content editing of … More Annual Reminder on Tone of Contributions
Martin Hawes views on Home Equity Release (Reverse Annuity Mortgages)
Martin’s paraphrase of his ‘Sunday Star Times’ article, 26th April 2015, whose copyrights we acknowledge.
Last week we learned that the Reserve Bank has concerns about “reverse annuity mortgages”. These are financial products that older people buy which allow them to re-mortgage the house for cash on which to live. Banks (mostly Heartland and ASB) will lend retired people money for lifestyle purposes. Interest accrues but does not have to be paid in cash; it is added to the capital sum and the whole lot is repaid when the retiree (or her estate) sells the house.
In my view these are great products as they allow people with a valuable house to travel or replace the car. Those who are asset rich but cash poor can stay in their houses and draw on their capital. For some people, the ability to borrow cash in this way will be an excellent choice even though the accruing interest will reduce wealth. Continue reading Martin Hawes views on Home Equity Release (Reverse Annuity Mortgages)