How much money do you need to retire? It could be significantly less than expected | Stuff.co.nz

[@johnstirling6597]

Far and away the most important thing you can do to secure your retirement is to own your own home.

[@dwee3005]

Naaaa we want a small percentage of the the National voters to own all the homes. We don't mind paying exorbitant rental prices

[@deeboy1957]

I would say there is a reason they recalculate this constantly, the future is uncertain and NZ Super is very uncertain

[@shazhardie]

I am assuming this millon is on top of the house you own.

[@shaksta4]

Is this assuming you own the property you live in or including rent?

[@nikkster01]

I think she is assuming we all live in Remmers or Merivale and need a property manager for our 6 renter rorter outers

[@kaines8429]

I'll have a proper read of the report tomorrow. However from what I read, it looks like the report based on people paying for rent.

[@charlienzcharlie]

Sounds like they’re just lowering the bar to encourage kiwis to save, by the time I retire a trolley of groceries will probably cost $50,000.

[@gostdeamon]

live on a life style block Pretty self sufficent And practising the circuler economy basically LIVING THE DREAM

[@Isaac-gp2dq]

Genuine question, how are people spending so much on retirement? What is it spent on? Do old people have extra costs I'm unaware of? I live off about $450 a week in Wellington. ~$200 after rent. I'm comfortable enough and can do almost everything I want. So $900 a week for "no frills" feels crazy to me. Especially if that's on top of super.

[@ibomb6232]

Power, more specifically heating. Old people feel the cold and nz houses aren't the warmest. My grandmother is in her 70s and she has the heating going all year round except for 3-4 months during summer, which includes heater and electric blanket.

[@NZFarmboy80]

Depends on your hobbies, you could spend thousands per year a lone

[@32f32f]

Win lottery

[@Cruisecontrol67]

With essentials constantly going up more than incomes. For working class their already f**ked. Saving is becoming impossible. This clip, therefore, is piss and gas. Fact is for renters your screwed already.

[@sshutupurface8345]

$600 a week for rent for 2 bedroom , 200 week for food and groceries, $80 week for petrol, $30 week for phones, $150 for power and internet total 1,378,000 for 25 yrs without inflation minus super so I disagree because the difference is $1378000- $1038000 super = $340000 not 120000

[@lindsayepae]

The biggest problem the world has is a store of value, inflation rates is not what your Government is telling you and people are starting to really understand that now, that the inflation rate is different than what your been told. Your kiwi saver rate of return is getting eaten up by inflation, your not getting wealthier, your on a treadmill, your not making any progress and people start looking for ways to store their value outside of this Fiat system and the most pristine asset there is, is Bitcoin. Reply

[@heathero007]

Agreed

[@dwee3005]

Most kiwis would disagree and say the most valuable and pristine asset is property... And that's why we have such high prices, the majority of people that invest are investing in property. Vicious cycle

[@patchnl2699]

Rubbish

[@user-mrwikohika]

Could be, doesn't mean, guaranteed. 🤔 Nothing is guaranteed, guaranteed. 💯

[@NZFarmboy80]

I'll need at least $5 mill to retire by time I reach retirement age, in 21 years. $1 mill will take you 20 years to spend at $50,000 a year, not taking inflation into account

[@weltschmertzz]

Might not be realistic if you we're able to earn/save enough to buy a house

[@creetatinirau-bu1zm]

Where?.. what a joke..why would you want to spend your money on rubbish..

[@gamemaniac1968]

Move to Australia life is more comfortable, and you make more money

[@Super5Ss5-dx7zp]

Haa haaa Lots of lots garbage