Home / Uncategorized / Are you saving for your retirement?

Are you saving for your retirement?

There have recently been several articles in the press relating to saving for retirement. The Press article from January this year advising us that we are simply not saving enough – if at all…

http://www.stuff.co.nz/business/money/8191227/The-cost-of-healthy-living-in-retirement

Then a conflicting article this week advising us that saving for retirement is "For Fools"…

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10876263

So here at the Eldernet office we put together a small survey asking people of different ages if they have thought about saving for retirement. Obviously when you are young it’s the furthest thing from your mind – but people do seem to be taking it more seriously due to such facts as  maintaining a certain lifestyle and living a longer life.

Do you think the superannution is a realistic amount to live on?

 

male,  18 yrs old.

When is the best time to start saving for retirement?         

" Maybe when you are 50"?

Do you know how much superannuation is per week ?      

" No Idea.."

How much would you expect to spend on food  –  pp per week ?  " Around $150"

If you have Health insurance  do you expect to retain it after retirement age?  

"No…  surely the government will pay for your treatment when you are old"…  

Have you started saving for retirement?  –  No.

 

male, 24 yrs old.

When is the best time to start saving for retirement?         

" 40 ish…"

Do you know how much superannuation is per week ?       " No"

How much would you expect to spend on food  – 

pp per week ?   "About $120"

If  you have Health insurance  do you expect to retain it after retirement age?    "Yes"  – "Hopefully".

 

29 years old

When is the best time to start saving for retirement? 

 By the time you reach 30

 Do you know how much superannuation is per week ?   No!

 How much would you expect to spend on food – per person, per week ?  –  $80

 If you have Health insurance do you expect to retain it after retirement age?     I don’t have it.

Have you started saving for retirement?

Not yet, but it’s on my 30 by 30 list – to finally join Kiwisaver.

 

Female – 35

When is the best time to start saving for retirement?    Now    

Do you know how much superannuation is per week ?       Unsure of exact figure. About the minimum wage? So, $350.00 per week?

How much would you expect to spend on food  –  per person, per week ?  $150.00, perhaps less.

If you have Health insurance do you expect to retain it after retirement age?   I don’t have private health insurance, so, no.

Have you started saving for retirement? Yes, through KiwiSaver.

 

Female

37

When is the best time to start saving for retirement?     As soon as you get your first proper job

Do you know how much superannuation is per week ?      No

How much would you expect to spend on food  –  per person, per week    $50-60

If you have Health insurance do you expect to retain it after retirement age?   YES

Have you started saving for retirement?   Sure have!

 

 Your age?     40s

When is the best time to start saving for retirement?        

The minute you start earning.

Do you know how much superannuation is per week ?     

$180 pp pw.

How much would you expect to spend on food  –  per person, per week ?  $80

If you have Health insurance do you expect to retain it after retirement age?   No

Have you started saving for retirement?  Absolutely.

 

Your age?      50’s

When is the best time to start saving for retirement?         

First day of work.   

Do you know how much superannuation is per week ?      $760

How much would you expect to spend on food  –  per person, per week ?        $300

If you have Health insurance do you expect to retain it after retirement age?         yes

Have you started saving for retirement?   Yes

 

female

62

When is the best time to start saving for retirement?       

The day you start work

Do you know how much superannuation is per week ?     

Approx $200 a week

 How much would you expect to spend on food – per person, per week ?     $100

If you have Health insurance do you expect to retain it after retirement age?

Would love to, but won’t be able to afford to.

        Have you started saving for retirement?      Yes

 

Quite interesting…. What do you think?

 

 

 

 

 

About admin

Avatar