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Has the pandemic got you thinking about life insurance?

You’re probably sick of talking about COVID-19 but whether we like it or not, the pandemic has now become a part of our lives and it’s got many people thinking about the value of life insurance. What if you pass away unexpectedly? Your loved ones don’t just lose you; they also immediately lose your income and all future income that you would have generated. Will they be able to support their ongoing living expenses? Can debts be covered? Can your lost income be replaced? If the pandemic ha...

Great phone apps for your Mental Health

Thanks to the current lockdown, many of us are staying at home and engaging in less social interactions and exercise which, in turn, can lead to concerningly high stress levels, anxiety and a feeling of helplessness. So many people depend on their everyday face to face interactions that it can be hard to function without them. Because of this, it should come as no surprise that income protection claims caused by mental illness have increased drastically since countries started employing the use...

Bad financial habits you need to let go of!

Anyone can have financial troubles. They can stem from unexpected or unplanned expenses that can occur throughout your lifetime. Or more commonly, they may stem from bad money habits. Whatever the reason for your bad money habits, one thing is for sure: they won’t help lead you to a financially secure life and they won’t help you reach your financial goals. Often, we may not even realise the habits that are holding us back and these bad habits can be tough to break. The first step to break...

You’ve set your financial goals, now what?

Last blog we touched on important points to consider when setting your financial goals. Just to recap a bit: Be sure to follow the 5 golden rules and set SMART goals: S - specific M - measurable A - achievable R - relevant T - time-bound It’s also crucial that you distinguish your Short-term vs Mid-term vs Long-term goals since this is also a key factor in helping you to decide where/how to invest your money. This is where you determine what length of time you want to commit to achieving said ...

How to set financial goals

The first rule of preparing your financial plan and ensuring you have enough money saved for retirement is goal setting. Without setting goals and knowing what you want to achieve, it’s going to be impossible to map out the right plan for you and your family. In today’s blog, we had a chat with our retirement planning specialist Paul Harvey to get the lowdown on what you need to consider when setting financial goals. Setting SMART Goals When setting goals for your financial planning, make su...

What do Kiwis worry about?

Recently, New Zealand rehabilitation service Active+ got thinking about what us Kiwis worry about. They conducted a survey to find out what make us tick. To be honest the results surprised us so much that we wanted to talk about it. Especially as so much of what people said relate to health, life changes and worry about the future. Health Issues First the survey asked people about the health issues that worry them on a daily basis. A staggering 76% of the respondents said they suffered from str...

A peek inside one woman’s KiwiSaver account

In today’s blog we want to talk all things KiwiSaver and give you a real-world insight into the ups and downs of one person’s KiwiSaver over the last 2 years. 34 year old Katie* has volunteered to give us a look inside her KiwiSaver funds over the last 2 years so we can see how they’ve changed over time and what decisions she’s made along the way.First, the background Katie is 34 years old, and she and her husband own their Auckland home with a mortgage. They have one child.  Katie...

A look at the government’s housing plan

At last, the long-awaited changes designed to save New Zealand’s housing market have been announced by the government. In this month’s blog we break down what’s been proposed, who is most likely to benefit and who will come out worse off. Buckle in because we think we’re all in for a bumpy ride… What have changes been announced? For some time, the cost of houses in New Zealand has been skyrocketing with little sign of abatement. Meanwhile, there are fewer and fewer houses availab...

Insurance premiums that don’t increase? Now there’s an idea

Death is one of the few certainties in life along with taxes, inflation, and the certainty that insurance premiums will rise every year. But one life insurance product is bucking the trend. In this months blog we look at how. Premiums typically go up with your ageLife insurance premiums go up in price each year based on your age, and they can jump a lot as you get into your 50's, 60's and beyond. This can mean having to cancel or lower your life insurance at a time in your life you feel you need...

These 5 things could be affecting your health

As we look ahead to 2021 and do our best to put the year that was 2020 behind us, we wanted to focus on one of the key things we deal with every day – health. Thousands of our clients and other New Zealanders have benefited from health insurance and the peace of mind that it brings them should something go wrong. But health insurance is often the ambulance at the bottom of the cliff. It’s a relief to know it’s there but we all hope we’ll never need to use it. That’s why taking preventa...

The Christmas Crunch time: How to avoid a financial hangover this silly season

“It’s the most wonderful time of the year!” It’s also the most expensive. In fact, many of us can end up paying off the silly season for months and wondering just where all that money went. In this month’s blog, we’ve put together our top tips to keep you from experiencing a Christmas credit crunch so you can come out the other side still full of cheer! 1. Set a budget…and stick to it! How many times have we said, “I can’t believe how much it all ended up costing!?” Well...

Key Questions to ask yourself about your Retirement Savings Plan

Many people aren’t entirely sure what a financial adviser does which means it’s hard to know if they should be using one. On top of that, it can be hard to reconcile the idea of parting with money in exchange for advice about that money! If you’re one of those people and not sure whether or not a financial adviser is for you, we’ve put together some key questions to ask yourself which should make the decision process easier (spoiler alert: you probably do need a financial adviser). Let�...

5 tips to save for your children’s’ future

When you become a parent, you go from being the number 1 priority in life to suddenly having someone else being the priority, overnight. And, that priority is the most important role you’ll ever take on. It doesn’t take long before the pitter patter of tiny feet turns into a fully-fledged human being and you find yourself wanting them to be smarter, kinder, more successful, and higher achieving than yourself. Like many parents, you might be wondering how you can help your children along the ...

Is it time to move your savings from the bank to managed funds?

It’s no secret that interest rates have been dropping rapidly over the last few months and with the ongoing Covid-19 crisis, this trend is looking set to continue. In fact, some economists are even predicting negative interest rates if the Official Cash Rate (OCR) is set to a negative figure. Negative interest rates are generally good news for property owners who will rejoice in paying less interest on their mortgages. But for savers, the outlook is not so rosy. Negative interest rates work b...

Is it in your best interest?

On July 8th, ANZ, New Zealand’s biggest bank, dropped its home loan interest rates to the most competitive that they have been in recent times. The move comes off the back of a historically low OCR (Official Cash Rate) as the Reserve Bank works to bolster the New Zealand economy in the post-Covid era. What does this mean for interest rates in general? And what does it mean for people looking to buy? We break it down in this month’s blog. What difference does a low interest rate make? Low int...

What is Income Protection Insurance and how does it work?

Income Protection Insurance is a topic that’s come up a lot over the last few months and many clients have got in touch with us to ask about accessing their Income Protection insurance or getting insured for the first time. In today’s blog, we cover the most frequently asked questions when it comes to protecting your income through insurance. Firstly, what is Income Protection insurance? Income Protection insurance literally insures your income against the risk of illness or injury that stop...

How COVID-19 has changed the New Zealand residential property market

Along with everything else that’s changed due to the COVID-19 pandemic, New Zealand’s property market is no longer quite the same as it was. Both the government and the Reserve Bank have implemented new rules and we are already seeing some changes. In this month’s blog, we take an in-depth look at New Zealand’s property market in the era of COVID-19. LVR Restrictions From the 1st of May, the Reserve Bank removed loan-to-value (LVR) restrictions in a change that will last for at least 12...

Tax Support to get you through COVID-19

On May 1st, Parliament passed the biggest tax support package in New Zealand history. It is the latest round of COVID-19 support announced by the Government and the latest in a number of tax-related relief initiatives to help New Zealanders. In this month’s blog, we break down what tax support is available. Tax support for individuals and families If your income has been significantly reduced as a result of COVID-19, you can now apply for a tailored tax code. This is to ensure that your withho...

What financial support can you get during the COVID-19 crisis?

In what would have been an unimaginable situation just a few short weeks ago, COVID-19 has hit New Zealand’s shores and we’re in a country-wide lockdown as we try to stop the virus spreading. if you’re unable to work from home and not an essential worker, you may have found that your income has taken a severe hit. With mortgages or rent to pay, bills to keep on top of and a family to feed, this can be a very scary and uncertain position to be in. We live in a country where the wellbeing o...

Coronavirus and its impact on your retirement savings

With Coronavrius (COVID-19) sweeping the globe and a pandemic having been declared, financial markets around the world have certainly been affected with significant falls across the boardIf you’ve got investments in shares or managed funds, it is very likely that you will have seen drops in the performance of your investments. However, now is not the time to panic, there are lots of moving parts involved. In this month’s blog we look at why the drops are happening and how you should react. W...

Live your best life in 2020

We all want to be happy, content and to feel like we’re living our best life. And achieving those things doesn’t just come down to luck. As the famous saying goes, we are the masters of our own destiny. So, with New Year celebrations only just behind us, it feels appropriate to look at what we can do to get the most out of every day. Here’s a range of ideas that touch on different facets of everyday life that you can try as the year really gets underway.Practice Gratitude The concept of k...

A Financial to-do list for 2020

In our last blog of the year, we wanted to drag you away from Christmas party planning and present shopping just for a minute and cast your minds forward to 2020. We know it’s a crazy time of year and it’s around this time that we can feel a bit like we’re constantly chasing your tail. But we challenge you to take a minute and have a read of our 5-step financial to-do list for next year. You might even like to include some of these in your New Year’s Resolutions to help you get 2020 off ...

How to Protect yourself from Identity Theft

Identity theft is a growing problem in New Zealand and can have devastating effects on people’s lives. But what is identity theft and what can you do to avoid it happening to you? What is identity theft? Identity theft is the act of using information about someone else to pretend to be them. The thief uses your identity for their own gain, often with financial motives. The information that is taken in identity theft is information used by the government to identify who a person is. This includ...

Why bother with Health Insurance?

In New Zealand we are lucky to have an excellent health system. In the case of an accident, ACC can help cover the costs of our treatment and even compensate us for lost wages. If we fall ill, we can rely on the care of hospitals and other medical providers with the majority of the cost being covered by our government-funded healthcare system. As a result, many people decide to forego the expense of personal health insurance and put their faith in the public system. But despite this, there a...

A DEEP DIVE INTO AIA VITALITY

Insurer AIA (Sovereign) has recently released a new wellness programme that has got the team at NZ Advice Group excited. It’s called AIA Vitality and it’s the first programme of its kind in New Zealand. In today’s blog, we’re going to deep dive into the package by looking at how it works, what it costs and covering off frequently asked questions so you’re in the know. What is AIA Vitality? AIA Vitality is a wellness programme that supports and rewards you for making healthy lifestyle c...