Source: Radio New Zealand
Morningstar said investors should focus on long-term savings goals, rather than seek short-term gains. RNZ / REECE BAKER
A leading financial research firm says KiwiSaver investors should focus on long-term savings goals, rather than seek short-term gains on speculative investments.
The end of year is often a time when investors reviewed the performance of their KiwiSaver and looked to make any adjustments.
Morningstar’s Australasian data director Greg Bunkall said the most important consideration was whether a KiwiSaver portfolio suited an individual’s investment horizon, whether it be saving for retirement or buying a first home.
When it comes to the markets, he said no one knows what’s going to happen in the short-term.
“The good thing about KiwiSaver is that it’s a retirement product, which means for the majority of people, they won’t be needing it in the very near term,” he said.
“So whatever happens next year won’t have a massive bearing on their outcomes.”
Bunkall said a financial advisor could help investors choose the right sort of plan, or they could check-out the sorted.org.nz website, which offered a number of tools to help investors decide for themselves.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
