Liz Koh On KiwiSaver Hardship Withdrawals

[@secondchance6603]

Anybody should be able to draw out their Kiwisaver whenever they want considering its THEIR money.

[@nzmarco]

Partially their money. Don't forget Govt and employer contribution.

[@Rspecialists]

Absolutely, it’s criminal how they make you jump through hoops to get your money back c u. Nt s

[@MrADTNZ]

Its tough out there. The cost of food is still going up

[@philliprobertlawman2232]

A million 😢 what dream world is this ????

[@gregg7617]

😂🤣😂🤣🤣🤣🤣 exactly ! I'm about on the 24 of December to get all my kiwi saver funds , Because I want the money NOW ! At this moment I live in a rent free house , I can live on the retirement funds , If I move to a state home , I have to exist on $12. 00 a week , A 50 gram pack of of tobacco is $140 , With my Kiwi saver I can produce half a ton of tobacco , And keep living rent free 😂🤣😂🤣🤣🤣🤣 My landlord smoke's taa daaa 😘👍😎🎱

[@dianestrode2730]

Good idea to cover this. Thanks

[@quintinsmith5400]

Wasn't allowed kiwisaver back in 2008 was told I was lucky to still have a job since most got laid off.

[@Marius_vanderLubbe]

Oh we'll be seeing some real hardship in the not too distant future.

[@davidboyd8113]

You’re so right we haven’t seen anything yet

[@davidboyd8113]

The people that took their money out in October maybe the lucky ones because as the economy gets worse and worse the government will iron up Kiwi saver for confiscation as well as your your bank can now take your bank deposits when things get tough let’s have a look next year and see what happens

[@736peraa]

I have decided to stop my kiwisaver contributions 4 years ago and take ownership of my investments. Did a lot of research to understand that we are heading into a 4th industrial revolution. I have invested into utility cryptos , precious metals and dividend growth stocks. I have beaten my kiwisaver by 85 %. The best part is I know where I have invested my money and can cash out anytime. I only hold cash for emergency funds and will keep building that amount so that I dont need to touch my invesments. Of all the asset classes , cryptos will grow the most and will mint the most millionaires. When banks/govts are continously printing money what you do expect your money to do? Printing money= inflation= devaluation of currencies

[@NA-sj9jy]

Never touched KiwiSaver. The Government wouldn't stop messing with it. We also remember what the Government did in the 70's under Muldoon...he scrapped the original KiwiSaver then, replaced it with New Zealand Superannuation. Always tinkering with our retirement.

[@Harkness197]

What do you mean messing with it?

[@dave24-73]

The benefit system is broken, and with record layoffs recently I’m not surprised.

[@deanspanley4472]

They should, as economically, the worst is to come so take the money and run... while it's still there 🐍⚖️☝️☀️

[@eileencoulter6263]

One kiwi saver will probly be asset tested,meaning if you have a couple hundred thousand dollars in your kiwi saver they will pay you out your pension from your kiwi saver until its gone,then you will get the government pension

[@andrewking9435]

The problem with kiwisaver is that youre locked in. It doesnt provide flexibilty to use funds to pay off mortgage for example, thereby needing to pay interest to bank, when kiwisaver balance could wipe out some debt.

[@Harkness197]

It's main purpose is for retirement so it makes sense to have it locked in. Funds also have a recommended time frame to recoup the most amount of returns. For example a high growth fund takes on more risk. It recommends a timeframe of 10 years, this means it's constantly going up and down but by year 10 you'll traditionally be up in value, if you took the money out sooner you may be doing that when the fund is down and that then realizes the decline and you would receive less money when cashing out.

[@brucegibbins3792]

Tne Platform sign is off, The red triangle replacing the A needs shifting to the right at its base. This is Freudian, I'm sure.

[@sclark9011]

with Kiwisaver at least they paid into it....maori saver had no input from the recipients

[@Pastaaa204]

Where can I hit that up? Or is it just a funny quip you made up for laugh

[@smudge6831]

I’ve never understood why you can’t leverage of Kiwisaver. If the bank offered you a 1% discount on your mortgage how much would that save over a lifetime? Be a no brainer

[@ManaBlack208]

This lady is delusional its over rover lady gone burgers 🍔 no recovering from this all downhill from here on out.

[@asha6822]

If you're living a THIRD of your life in retirement (keeping in mind the first third is childhood and youth)... Perhaps our retirement age is too low or we are wasting medical intervention to unnecessarily prolong life with questionable quality

[@andrewking9435]

If you want $50k pa income x live until 90, 25yrs retired, thats $1.25m.

[@nzmarco]

And more and more jobs are being lost through budget cuts. Hold on, folks. She's going to get really bumpy,

[@ManaBlack208]

Bumpy?nz is fully fucked now buddy your abit behind there mate,people have already fallen off the back of the ute and sum are dead already an estimate of 5,000 people have lost their jobs this year alone a record number of people leaving for overseas they know this country has gone down the drain.

[@nzmarco]

@ hey man, I lost my job too.

[@ManaBlack208]

@@nzmarco Fuk sake sorry bud

[@nzmarco]

@@ManaBlack208 all good., man.

[@gregg7617]

Ps: if your a retirement saver that pays heaps in insurances , Start whittling down the insurance's , You'll have more money to save 😘👍😎🎱 I could have used the money i paid in insurance to liv on much better and Happier 🤔🤨😠😡