Investment strategy for a couple in NZ

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Forums › Finance and wealth management › Investment strategy for a couple in NZ

shunbulkhan

1 post

Wannabe Geek

#318190 24-Dec-2024 09:34

I dont have access to financial forum.

Sorry for long message. I and my wife has total of 169k salary before tax. Our financial life is a bit complicated. Due to some requirements for her job she needs to work in another city for 5 months from January. Therefore we will have higher rent pay as I cannot terminate till June.

Overall, our situation for 5 months is: 3000/m rent included eveerything, 1200/m grocery, 220/m transportation, 100-150/m entertainmemt. This is the case till June 2025 and then our rent will be 2250/m. Possibly same other costs as above though inflation might ruin plans!

On the other hand, we are constructing house inside our country we need to pay around 2500/m until again June 2025 it will be finished. The value of that house will be around 150k though have not plan to sell and Will keep it.

Anyway from June we have less burden. We have no debt thanks god!

About saving: not much. 38k in normal daily saving such as rapid since we think we might need some part of it urgent maybe. Though these term deposits are not good anyway I believe. 3500 kiwisaver we have in balanced fund different providers.

So, what can we do here to invest optimally? Though saving is less now but will much better from June. Say whatever we have saving now from June it will be at least 3200 more.

What is the optimal plan to invest?

By the way, I am not sure I will stay in NZ long time but pretty sure I will be here for 5 years and this also makes me doubtful for invest plan. Any idea more than appreciated

BlargHonk

147 posts

Master Geek

#3324117 24-Dec-2024 09:43

"Due to some requirements for her job she needs to work in another city for 5 months from January. Therefore we will have higher rent pay as I cannot terminate till June."

If you talk to your landlord you might be able to break your fixed term contract early. We have done it before where we agreed to keep paying rent while they advertised and found new tenants, then broke early with no additional costs.

freitasm

BDFL - Memuneh
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#3324118 24-Dec-2024 09:45

@shunbulkhan: I dont have access to financial forum.

You can complete ID Verification to access the Finance sub-forum.

cddt

1548 posts

Uber Geek

#3324142 24-Dec-2024 11:18

shunbulkhan:

Due to some requirements for her job she needs to work in another city for 5 months from January.

If the employer requires her to relocate temporarily it is the responsibility of the employer to provide suitable short term accommodation.

My referral links: BigPipe | Mercury

freitasm

BDFL - Memuneh
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#3324150 24-Dec-2024 11:27

cddt:

shunbulkhan:

Due to some requirements for her job she needs to work in another city for 5 months from January.

If the employer requires her to relocate temporarily it is the responsibility of the employer to provide suitable short term accommodation.

Do you have a link to this?

cddt

1548 posts

Uber Geek

#3324156 24-Dec-2024 11:35

freitasm:

Do you have a link to this?

Perhaps I should have worded it as "... I would expect the employer to take responsibility ..."

I made that statement assuming her employment contract specifies the place of work, as it is legally required to.

https://www.employment.govt.nz/starting-employment/employment-agreements/creating-an-employment-agreement

"An individual employment agreement must include: ... an indication of the place of work"

A change to the place of work would require a workplace change process: https://www.employment.govt.nz/fair-work-practices/restructuring-and-workplace-change/workplace-change-process

Of course, the requirement to work in a different location temporarily could be part of her employment contract, so she knew about it before signing, but OP makes it sound like it's a surprise and an unplanned expense.

My referral links: BigPipe | Mercury