Should I Review My KiwiSaver?
The short answer is YES.
Most Kiwis now do have their superannuation with a KiwiSaver provider, but in most cases this has been set up and never reviewed.
Why it’s Important to Review Your KiwiSaver
There are a number of reasons that you should review your KiwiSaver.
Do you believe that your provider is doing the best for you? This is one of the key reasons that people do review their KiwiSaver.
Are you in the correct fund? All of the providers have a range of funds that you can invest in, and they all differ. They range from being conservative to being aggressive and that means more cash type investments on the conservative side and more shares for the aggressive. They also differ in how they are managed from passive to active which determines how much involvement the fund managers have in selecting and managing the investments.
The general rule with investments is to be more conservative if you need the money soon (in under 3-years) but you can be more aggressive and accept the risk (highs and lows) if you have more time.
Some providers also offer options that automatically change the risk profiles as you get older and therefore closer to retirement.
I’m wanting better returns – of course everyone is and while it is impossible to predict future returns you should at least know how your provider is investing your money.
These are a few of the key reasons for reviewing your KIwiSaver, but apart from this its always good to have a quick review to ensure that you are comfortable with what you are doing.
