Living longer and longer

As New Zealanders turn 65, we are healthier, more energetic and more engaged than ever.

With potentially more than 30 years of life before us, more and more Kiwis continue to work into our golden years and further.

It seems unbearable to think that you are 65 if you feel good enough and that you may live three more decades without a plan on how you are going to finance yourself, stay happy and healthy.”

Working to old age, if your health permits, has a surprisingly wide range of benefits. Older workers stimulate the entire economy, provide billions of dollars of volunteer work in the community, increase their personal income, and can have health benefits.

Continuing to work can even reduce your risk of death. It is has long been known that loneliness is terrible for your health, and working in a meanigfull job can replace the work stress and boredom that can detrimental to your well-being . Not only that, greater consideration should be given to the source of your income during your twilight years. As people live longer and longer, they’ll need more and more income to sustain them right though until past 90 for a growing number of people.

As well, as considering a job change, to something less physically demanding work, while others want more meaningful careers or volunteer activities. It is discouraging to consider a career change at age 65, but a shortage of skilled labor is more and more an incentive for employers to hire older employees.

We recommend that people need to start investing early to ensure their wealth grows enough to support them. If you’re looking for a mortgage broker in christchurch to get you started in your investment journey then have a chat to us today.

The other investment to consider is KiwiSaver. New changes mean that people aged 65 and over can join as of July 1 of this year, which can be advantageous as these funds have lower management fees than comparable non-investment funds. KiwiSaver. That would still be 25 years of investing if you lived until 90.

If you decide you are physically fit enough to continue to work then you can take advantage of the fact that a large number of local employers also continue to pay KiwiSaver premiums to older workers. With the additional funds to supplement your retirement pension, as well as the benefits of ongoing work, you could end up enjoying the most rewarding part of your career knowing that you are only working to supplement your income.