Are you ready for retirement?

Being ready for retirement means having enough savings and investments to sustain your desired lifestyle throughout your retirement years without the need for regular employment.

Some key factors to consider when determining if you are ready for retirement include:

Adequate savings

Having enough savings to cover your expenses for several years in retirement. A common rule of thumb is to have enough savings to cover at least 25x your estimated annual expenses in retirement.

Adequate NZ super and KiwiSaver

Having an understanding of your NZ super and KiwiSaver benefits and how they will impact your retirement income.

Investment portfolio diversification

Having a well-diversified investment portfolio, including a mix of shares, bonds and cash, to provide a steady stream of income and minimise risk.

Adequate healthcare coverage

Having adequate healthcare coverage to cover potential medical expenses in retirement.

Established retirement income plan

Having an established retirement income plan, including how you will generate and manage income from your savings and investments.

Tax-efficient strategies

Having knowledge and incorporating tax-efficient strategies for your retirement income, that can minimise the impact of taxes on your retirement income.

Continual learning and education

Continual learning and education about personal finance, investing and tax-efficient strategies to make informed decisions.

Will and estate plan

Having a will, trust and estate plan in order to ensure that your assets and wealth are protected and distributed according to your wishes.

It's important to note that being ready for retirement requires a solid understanding of personal finance and investing, and the potential impact of taxes, inflation, and healthcare costs on your retirement income and plan accordingly.

Important information and disclaimer

  • Any advice on this publication is of a general nature only and has not been tailored to your specific circumstances. Before taking action on this information, please seek your personal advice. Past performance is not a reliable guide for future returns. The information on this page reflects our understanding of the existing legislation, standards, etc.

    In some cases, the information has been provided to us by third parties. While the information is believed to be accurate and reliable, but this is not guaranteed in any way.

  • Neither AIFP nor its responsible persons or employees give any warranty of accuracy, nor accept any responsibility for errors or omissions in the information provided on this page.