Homeowners reaching retirement age often think about downsizing the family home to help fund retirement. For those facing this decision, it’s important to consider the emotional, physical and financial impact that moving out can have. For older Kiwis who may be feeling the pinch, there are alternative finance options available, such as a reverse mortgage, that allow you to release equity from your home, without the need to make regular repayments. Find out if a reverse mortgage is right for you.

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Topics: Retirement, Financial Health, Health and Wellbeing, Buying and selling

40% of people aged 65 and over have virtually NO other income besides NZ Super and another 20% only have that, and a little more* This is from the 2022 Review of Retirement Income Policy. We are also a fast-aging population, with the number of people aged 65 or older living in New Zealand likely to hit 1 million by 2028. Currently there are about 93,000 people aged 85 or older, and in just two years there will be more than 100,000.**

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Topics: Kiwisaver, Retirement, Savings, Financial Health

Around a quarter of those asked said they would need to keep working after the age at which they receive the Government pension, according to US Research giant, Statista.* They surveyed people in several countries including the UK and Australia, finding that many will have to keep working to live comfortably. 

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Topics: Retirement, Savings, Mortgage Advice

While reverse mortgages have traditionally been seen as a little unconventional, it’s not surprising that New Zealand’s major lenders of reverse mortgages have seen a sharp rise in new approvals. Rising house prices and a higher cost of living have forced some homeowners approaching retirement to re-evaluate their financial position, and consider a reverse mortgage as a means to a financially comfortable retirement. To help you decide, here are the pros and cons of a reverse mortgage.

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Topics: Retirement, Mortgage Advisers, reverse mortgage

Nearing retirement age often leads to a mindshift in our view of property investment. The closer we get, the less appetite for risk we typically have, and the more cautious we become about ensuring our retirement savings go the distance. So, what are the main risks retirees need to consider when reassessing their property investment strategy? And what could they do to minimize risk and ensure they plan ahead for longevity?

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Topics: Selling, Retirement, First Home Buyer

There comes a point in most people’s lives when downsizing the family home makes good financial sense. Ongoing maintenance, empty bedrooms and costly monthly bills can make you seriously think about selling your existing home and finding something smaller or easier to maintain. Whether you’re an empty nester or just looking to get into a smaller apartment in the city, here are our tips for making those key downsizing decisions.

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Topics: Retirement, Smaller Property, downsizing your home, Home Loan Advice, Mortgage Advice

If you need to free up a little cash as you head into retirement, a reverse mortgage could be the solution. A reverse mortgage lets you mortgage your property so you can access your equity with no repayments required until you move out. For many retirees, a reverse mortgage offers financial security to cover those unexpected expenses – like home repairs or major surgery – without having to sell the family home. Read on to find out more about a reverse mortgage.

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Topics: Retirement, Home Equity Loans, reverse mortgage, NZ Mortgage Adviser, Home Loan Advice

The latest buzzword to hit the finance streets: FIRE. It stands for “financially independent, retire early” and is a philosophy inspired by a wave of millennials who are no longer content to amass wealth by traditional means or wait to retire at age 65. In simple terms, FIRE means living frugally while saving most of your income. Sound crazy? Perhaps not.

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Topics: Retirement, Mortgages, NZ Mortgage Adviser, Early Retirement, Debt-free, Mortgage-free

Despite a slowdown in property price increases, many first home buyers are still struggling to get a foot onto the property ladder. Which is why they’re turning to the bank of mum and dad for help. Is this a viable solution or are we just shifting the problem? Find out more about helping your kids onto the property ladder.

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Topics: Retirement, Debt Consolidation, Mortgages, Savings, First Home Buyer, Bank of mum and dad

Most of us are aware of the importance of saving: Saving for a first home, saving for a holiday, saving for retirement. But how often does that message filter through to our children? Experts say it’s never too early to start talking to children about money, and this amazingly simple formula could help kickstart their good saving habits.

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Topics: Retirement, Debt Consolidation, Mortgages, Savings, First Home Buyer