10 January 2017
Set clear goals and do your research before you commit to any investment.
If you’re in KiwiSaver, get your settings right.
Many financial service and product providers must now hold a license issued by us. We check and monitor licensed providers. This means you get more protection if things go wrong. You’ll also find it easier to understand your investment because we expect licensed providers to communicate clearly and simply.
Learn more about licensing and why it’s good for you.
There are plenty of businesses offering high returns to investors and this can be tempting. Don’t forget the rule – if it’s too good to be true, it probably is.
As a guide, the average annual return for an ‘aggressive’ KiwiSaver fund is currently around 7.5%. If you’re being offered higher returns than this, question it. What are you paying in fees? Is your money locked in? Who is managing the money? What are the risks?
A financial adviser can help you work out what’s best for your situation. There’s also help available online. To get started, check out our website and Sorted. You can also follow personal money writers like Mary Holm.
See getting financial advice to learn more about advisers and how they can help you.
Sadly we’ve seen an increase in cold call ‘boiler room’ investment scams in New Zealand over the past year. We’re also hearing about affinity fraud - fraudsters preying on people who trust each other, like religious, social or cultural groups.
Go to avoid scams to learn the warning signs to look out for and ways you can protect yourself.
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