Financial

The gap between the rich and the poor is getting bigger. This has vast implications for the whole of the population. Oxfam reported that the richest 1 per cent of Kiwis have 28 per cent — $42 billion — of the wealth created in a single year. Meanwhile, the poorest …

A reserve mortgage is a loan that can enable an ‘asset rich, cash poor’ older homeowner to access the value held in their property by taking out a loan secured against their home. There are usually no regular repayments on the loan. This means the homeowner will receive capital – …

The increased awareness of the gender pay gap over recent years is an important step in being able to close it. Time taken off to care for and raise children and care for older relatives is one of the largest impacts on pay. While it is clear to see the …

Many millennials are having a tough time launching their adult lives. The usual blame for this is placed on burdensome student loans, job insecurity, high housing or rent costs, and – of course –surplus cash regularly devoted to smashed avocado on toast and the latest iPhone! As a result, perhaps it’s no …

People of all ages across New Zealand can unwittingly become money mules for international fraudsters, and many of those targeted are elders. Now the office of the Retirement Commissioner has partnered with the Police to produce a booklet to help people protect themselves from becoming unwitting accomplices in moving money …

A wise man once said: ‘the only constant in life is change’. Of course, a part of change is uncertainty. While you may not be able to prevent yourself from all forms of uncertainty, you can surely prepare well in advance for any kind of financial uncertainty that may occur …

Supermarkets are useful one-stop shops for a variety of goods. However, in case you weren’t already aware, the multi-billion-dollar NZ supermarket industry is dominated by two players, so we don’t have much choice when it comes to our weekly shop. The big two are: Woolworths New Zealand (owner of Countdown …

The holiday season can be a stressful and emotional time, so it’s important to keep an eye out for the older people in your life. One in ten people 65 and over will experience some form of elder abuse. Elder abuse can come in many forms, it’s more than physical abuse and …

From March next year, IR and ACC will no longer accept payments by cheque from customers who are able to use alternative payment options. IR received more than 430,000 cheques last financial year, the largest number received by any public sector agency. ACC received approximately 25,000 cheques from business customers. …

Whether you’re just starting out as an adult, or are already financially secure, you’ve probably heard your fair share of unwanted and unsolicited financial advice. In case you haven’t already learned it, the wealthier you get, the more interesting that advice can become! Some financial tips and advice can function …