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Update
New Zealand's new government has made several changes to KiwiSaver. See the KiwiSaver Basics page for more information on this.
These changes will make some sections of this book outdated from 1 April 2009. I have written a new book, "The Complete KiwiSaver", to be published in late March, 2009. It includes:
- The best of both earlier KiwiSaver books, updated to include the government changes - which have opened up the scheme to thousands more New Zealanders.
- Simple-to-follow information on which type of KiwiSaver investments are best for you.
- Extensive information about what all KiwiSaver providers offer – including details from three new providers.
- Updates to reflect changes in the financial world.
- Advice on how to keep track of what’s happening in your KiwiSaver account, and on what to do if the records don’t look right.
- Information from the government’s first annual report on KiwiSaver.
- Answers to many questions and concerns expressed by readers of my columns and people attending my seminars.
- Creative new ideas – from many New Zealanders - on how people in different situations can make KiwiSaver work best for them, whilst keeping risk to a minimum.
Look for more details about the book on this website in late March.
KiwiSaver:
How to make it work for you
Mary's first book about KiwiSaver, published in 2007 by Random House,
went straight to the top of the New Zealand non-fiction bestseller list and remained there for 10 weeks.
What is the book about?:
If you are under 65 — regardless of your circumstances — you
should join the government's KiwiSaver savings scheme, even if you have to
borrow to do so. You’ll get a kick-start of $1000 plus up to $1040
more each year. If you’re an employee, your boss will also contribute.
And if you don’t own your home, there’s a generous subsidy towards
buying one.
True, your money will be tied up until NZ Super age in most cases.
But there are ways to reduce that impact. That — and much more
— is what this little book is about. The government gives you the
KiwiSaver rules; Mary Holm tells you what they mean for you, and
how you can make the most of them.
There are so many questions: How should you invest? How much?
Should you join if you have high-interest debt? Can your children
join? What if you are self-employed? A beneficiary? Planning to leave
the country?
Who better to negotiate you through all the pros and cons than
Qantas Award winning financial writer Mary Holm,
whose newspaper columns are avidly read and whose
seminars are attended by thousands of New Zealanders
every year? She’s not selling anything but the truth.
Independently assessed by experts and impeccably researched, this is a book you can't do without.
The book includes an extensive index, making it easy for you to find what matters to you.
Buy Mary Holm's "KiwiSaver: How to make it work for you" online:
Purchase from Fishpond Bookstore here.
Purchase from Good Returns Bookstore here.
Bulk sales
Buy copies for your extended family, employees, clients or associates - or suggest that the boss buys one each for you and your colleagues! The book is small enough that you can mail out copies in standard small envelopes for 50c postage.
Prices for bulk purchases range from $9 a copy for 11-29 copies down to $6 a copy for 700-999 copies. For more than 1,000 copies, the price is negotiable. All prices include GST and free delivery. For further information, email Mary Holm at mary@maryholm.com
Book Reviews and Comments
Mary Holm has established herself as one of New Zealand's leading financial commentators and probably knows more about KiwiSaver than even Michael Cullen. (The book) is filled with information, answers all the questions you might have about KiwiSaver... Priced at $9.95, it's a great book to pick up for yourself, and if you're an employer trying to answer all the KiwiSaver questions coming from staff then it might be a good idea to buy a few dozen of these to distribute. Herald on Sunday
This well -written little book could make a big difference to your future.... At $9.99 it would appear to be a very good investment. Holm steers away from all the financial gobbledegook that usually surrounds these issues and succeeds in demystifying just about every aspect of KiwiSaver. She doesn't shy away from the negatives either. Ian Jevons, Wairarapa Times-Age
It isn't often you can legitimately say, "You must read this book", but in the case of Mary Holm's "KiwiSaver, How to Make it Work for You", it's absolutely true....We are going to be bombarded with information about KiwiSaver in the next few weeks and months, from everyone wanting a piece of the action. Best then, to read Mary's unbiased book first and make up your own mind. Lynnaire Johnston, Her Magazine (formerly Her Business)
I'm yet to decide where my money should go, but when I've fully digested Holm's advice I'll have a much better idea. This pocket-sized book is a must for those like me who want financial security for the future but don't know where to start. Hauraki Herald
This pocket-sized book is crammed with everything you need to know about the high-profile KiwiSaver scheme. Nelson Mail
(This book) presents the information simply and clearly, avoiding the investment market jargon that can so often scare away readers....You can't buy much for $10 these days. It's even more of a rarity to find something that represents such good value for your $10. Jillian Allison-Aitken, Southland Times
If you still have questions about KiwiSaver, and who hasn't, this economically-priced little pocketbook is likely to have the answers. Author Mary Holm, who is a newspaper columnist and author of several books, is respected for offering unbiased and straightforward advice on all kinds of financial matters. Jo Keppel, Greymouth Star
Stephanie Jones: "It's a great resource, and it's $10 in the bookshop.... She explains it very well...The third part is really good for anybody who's interested in investing...."
Kerre Woodham: "She's great. It's very easy to read even for financial illiterates like me. For ten bucks, it's great value." Stephanie Jones, Paper Plus, Radio book review on Kerre's Café, Newstalk ZB, Sunday July 15, 2007
Mary Holm's handy pocket-sized book is just the thing to sort out whether you should join KiwiSaver.... The strategies for getting the most benefits (without being forced to tie up too much of your future earnings) are well worth the price. Rating: 5 of 5 Stars!
Kathryn Dalglish, Good Returns
Contents of "KiwiSaver: How to make it work for you"
PART I: What is KiwiSaver?
Let’s go!
Won’t NZ super take care of us?
Features of KiwiSaver
How it all works
- Joining up
- Opting out
- Contributing: employees
- Contributing: non-employees
- Contributing extra money
- Taking a contributions holiday
- Earning returns
- Leaving New Zealand
- Getting your money out early
- Getting your money out in retirement
More about the goodies
- $1,000 kick-start
- Tax credits
- Employer contributions
- Salary sacrifice
- Contribution to first home
- Fee subsidy
- Mortgage diversion
- A limited government guarantee
Tax issues
More info for non-employees
- Children
- The self-employed
- Adults not in employment
- Employers
PART II: Why most people should sign up for KiwiSaver - now or later
Weighing up KiwiSaver against other ways of saving
How much difference do the kick-start and tax credits make?
How much difference do employer contributions make?
The bigger picture
Advice for the uncertain
- You feel you can’t afford KiwiSaver
- You are concerned about tying up your money until NZ super age
- You have a mortgage
- You have a student loan
- You have high-interest debt
- You’ve already saved enough for retirement
- You already belong to a super scheme
- You feel confused
- You are worried about losing your money
PART III: Which KiwiSaver scheme is right for you
The first thing to understand: higher risk = higher average expected returns
Which assets should you invest in?
Five ways to reduce investment risk
Choosing a provider
- The default providers
- What to look for in a scheme
- A big issue: fees
- For more info and to keep up
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