Cooking The Books

Each week the NZ Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's the things you need to know before maxing out your KiwiSaver. Hosted by Frances Cook.KiwiSaver is a wonderful scheme. You get free money from the Government and your employer, it automates your retirement savings, and it has plenty of options to let you do what's best for you and your money. It's safe to say, I heartily approve of KiwiSaver. But just because it's a good scheme, doesn't mean you're safe from messing it up. Many people will max out their KiwiSaver, happy in the knowledge that they're doing the best thing for their future. The issue is that putting three per cent of your income into KiwiSaver has a very different result from putting eight per cent into it. You get totally different benefits, and you arguably do better with three percent going in. Once that money is in, it's locked in, until you retire. So you want to be sure you're making the right choice, before padlocking your mon