The Government has recently announced new providers of KiwiSaver default funds, to enhance the financial wellbeing of default KiwiSaver members in retirement.
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Investing
The news is full of stories about investing in cryptocurrencies such as Bitcoin and selling a story about how to become a millionaire overnight. But the Financial Markets Authority (FMA) regulator has seen an increasing number of complaints from investors who’ve lost money using cryptocurrency exchanges.
From 15 March 2021 anyone who gives regulated financial advice to retail clients must either hold, or operate under, a Financial Advice Provider licence. All providers of financial advice are now subject to the same obligation to place the interests of their clients first and must adhere to a new Code of Conduct.
Investing in financial products like shares, bonds, funds and KiwiSaver are all ways to grow your wealth. Regularly putting a little money aside today can reap rewards later in life.
But there are myths about investing that stop many people from taking part. They imagine investors as flash young risk-takers with money to burn. They remember times past when some investments did fail.
In these uncertain times it is easy to feel like things are out of control.
It’s important to realise that investment markets are moving up and down all the time – stability is not ‘normal’.
Your investor risk profile is a combination of both your risk capacity and your risk tolerance and directly affects the type of investment funds or options you should be considering.