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189 posts

Master Geek

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  # 483057 20-Jun-2011 10:13
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mattwnz:
Ragnor:
timtim: english is my second language so I only knew a bit about the kiwi saver.All my friends are signed up with it so I joined it as well.I even sign up for my son who is 3 years old so I imagine that when he is 18 years old he may end up to a dept with the kiwisaver.


Change to a conservative provider that is making higher returns than their fees off the existing balance.


 


 

You can also switch to a cash fund, which is invested solely in bank deposits, thus you can never lose money, and the fees are slightly less. The only thing is over the long term, the returns will likely to be less.



The statement that you can never lose money in a cash fund is not true. I have had a negative return in a 'cash/fixed interest' fund with one of the major Superannuation funds and the explanation was that they sometimes lose money when they buy and sell financial instruments such as bonds. Also if returns are low fees can be greater than return. One must also be aware that institutions where money is invested (even banks and finance companies) can also collapse so no investment should be considered guaranteed.

8034 posts

Uber Geek

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  # 483461 20-Jun-2011 23:26
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You also effectively lose money "relatively" if the rate of inflation is higher than the interest rate of bank deposits

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