Retirement Planning HINTS FOR A BETTER RETIREMENT
Useful Retirement Planning tips, ideas and suggestions to help you enjoy a long and prosperous retirement.
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Retirement Planning Help Articles
- Are you really ready for retirement
- Should I buy or Rent?
- Will I still have debt "When I'm Sixty four"?
- Do you own your own home?
Accommodation and debt help
The number one rule for retirement is that you must "go into retirement debt free".
But older New Zealanders are facing significant financial pressures and keep delaying the repayment of debt. According to a 2022 report from Treasury, over half of superannuitants still paying off mortgages spent more than 80 percent of their superannuation income on housing costs. Those who are mortgage-free spend less than 20 percent of their NZ Super on housing.
Between 2019 and 2024, the percentage of overdue mortgages for the 50+ age groups ranged between 2 percent and 2.5 percent, compared to a range of 1 percent to 1.5 percent for all mortgages.
People between the age of 55 and 64 are likely to have purchased their homes in the late 1990s and early 2000s, so are less likely to be hurt by the 2021 peak and subsequent trough. Despite this apparent advantage, only 38 percent of people between 55 and 64 are mortgage free.
If you have any debt (mortgage, student loan, credit cards, hire purchase, overdue accounts etc.) you need to take action now to get it repaid if you want to be happy and enjoy your retirement. NZ Super is not enough for any enjoyable lifestyle, and it certainly doesn't cover paying off a lifestyle you have already lived. No one else is going to help you - you need to prepare a repayment plan today and action it. You need a plan for your retirement that ensures you are debt free on your retirement date . Our Free Retirement Planning Guide details how to develop your debt repayment plan and take control of your retirement Check out our retirement planning articles for hints and ideas to make your plan even more bullet proof.
Between 2019 and 2024, the percentage of overdue mortgages for the 50+ age groups ranged between 2 percent and 2.5 percent, compared to a range of 1 percent to 1.5 percent for all mortgages.
People between the age of 55 and 64 are likely to have purchased their homes in the late 1990s and early 2000s, so are less likely to be hurt by the 2021 peak and subsequent trough. Despite this apparent advantage, only 38 percent of people between 55 and 64 are mortgage free.
If you have any debt (mortgage, student loan, credit cards, hire purchase, overdue accounts etc.) you need to take action now to get it repaid if you want to be happy and enjoy your retirement. NZ Super is not enough for any enjoyable lifestyle, and it certainly doesn't cover paying off a lifestyle you have already lived. No one else is going to help you - you need to prepare a repayment plan today and action it. You need a plan for your retirement that ensures you are debt free on your retirement date . Our Free Retirement Planning Guide details how to develop your debt repayment plan and take control of your retirement Check out our retirement planning articles for hints and ideas to make your plan even more bullet proof.