Managed Investment Funds & Retirement Projections
Affinity Advisors has an investment advice advisor who is qualified to talk to you about goal based planning to implement steps to enhance your retirement financially. This service focuses on your current position and looks at your overall wealth plan. We take into account your current assets, earning power and savings capacity to start mapping a plan as you transition into retirement. Our cashflow modelling tools will give you a confidence level that your desired retirement can be achieved through the foundation of a good financial plan.
Most of us by now have a KiwiSaver, however too often to we hear from clients that they do not know which KiwiSaver provider they are with, how much they have invested, and which fund they are contributing into. These are all key variables of your investment that should be reviewed on an agreed basis. Firstly a warrant of fitness test on your KiwiSaver would be a good place to start. A meeting at Affinity would consist of understanding your current KiwiSaver and what your risk tolerance looks like as an investor. We would then look to make suggestions and advice around your current investment to better align this with your goals.
Can I use this for my first home?
KiwiSaver has been fantastic for first homebuyers in New Zealand as many individuals are accessing home deposit savings that they might not have previously saved had it not been for KiwiSaver.
To meet the eligibility criteria to withdraw your KiwiSaver savings you must have;
- Been a member of KiwiSaver for more than 3 years
- Not currently a homeowner
- You cannot be eligible if you have used KiwiSaver in the past to purchase property
- If you have owned a property in the past but not used KiwiSaver, and no longer own and are looking to buy then you must complete the homestart eligibility form as a second chance buyer to pre-approve access to these funds for deposit use
Can I use KiwiSaver if I have owned a home in the past but no longer do so?
If you have owned a home before and no longer do so then the answer is YES, you may be eligible to use your KiwiSaver investment for your first home deposit if you have not used it before.
- Your realisable assets must not exceed $80,000
- You must no longer own property
- You must be using KiwiSaver as a deposit vehicle for the first time
Do I qualify for the government grant?
If you have contributed to KiwiSaver for 3 years or more you may be eligible for the government grant to assist your first home or second chance purchase. If you have contributed for 3 years you have access to $3,000, 4 years - $4,000, 5 years worth of contribution - $5,000 individually.
When seeking pre-approval through Affinity we offer to complete your grant applications with you to make this process less daunting and stress free.
We are professionals at assessing first home and second chance pre-approvals and are more than happy to help our clients with these on the back of their mortgage pre-approval.