Tip 2: Up, up, up your contribution!
- If you've a financial goal in mind, like saving up to buy a house in the next few years, push out to a higher contribution rate.
- Rates are 3, 4, 6, 8 or 10%.
- Calculate, based off your current income, what you can afford to put into your KiwiSaver vault.
- Don't be afraid to put in extra bits of cash to it over time - you don't always have to wait for your automatic contribution to kick in.
Tip 3: Treat your KiwiSaver like interest.
- KiwiSaver is not a savings account, really - it's an interest scheme.
- Choose your KiwiSaver provider based off the rate of interest they offer.
- Get familiar with the different types of interest - defensive, conservative, balanced, growth and aggressive.