Having a Baby? Why You Need to Sort Your KiwiSaver Fund

With a baby on the way, it’s time to plan for your financial future. Putting a little effort into sorting your KiwiSaver fund now can make a huge difference to your family’s lifestyle later on. 

Here are BetterSaver’s top 3 reasons why expectant parents should sort their fund today.

Buy Your First Home

KiwiSaver isn’t just a retirement fund, it’s an investment that can help you buy your first home. Your KiwiSaver fund can be used towards a deposit. You have to meet qualifying criteria and it’s crucial to make sure you are in the right fund to meet your goal and timeframe. BetterSaver’s Fund Finder quiz can find the best fund for you in under five minutes. 

Here are great initiatives that you could also be eligible for:

• First Home Grant which can provide up to $10,000 that you don’t have to pay back. You have to be contributing to KiwiSaver for 3 years to be eligible. 
• First Home Loan with deposits as little as 5% if you qualify.
• First Home Partner program, a shared ownership scheme where Kāinga Ora will contribute a maximum of 25% or $200,000 (whichever is less) to the purchase of your home. You buy back their shares over time. You must have 5% of the purchase price - this can include KiwiSaver and the First Home Grant.

Check out BetterSaver’s First Home Buyer’s Checklist to make sure you have all of your bases covered to realise your dream of home ownership that much faster.

Be a Better Saver

Kiwis are some of the worst savers in the OECD. As a parent, you want a good financial future for your child. KiwiSaver is the easiest way to start.

Your KiwiSaver contributions are withdrawn from your paycheck automatically. Your KiwiSaver fund is then invested on your behalf. The fund you choose directly impacts how much you can potentially save.

The earlier you start contributing to KiwiSaver, the more time your money has to grow. BetterSaver has worked out how much you need to be saving at each stage of life to ensure you have enough in future.

Get Free Money

Your KiwiSaver fund can earn you free money. First, your employer is required to match your contributions by at least 3%. Second, the government matches your contributions by 50% up to a sum of $521 every year. 

It makes sense to sort your KiwiSaver now to ensure that you are making the most of the opportunity to grow your funds. 

BetterSaver Does the Work For You 

BetterSaver is committed to making KiwiSaver easy for you. We do all the research and provide expert advice when it comes to choosing a KiwiSaver fund. We take into account your goals, timeframe, lifestyle and values to match you with the optimal fund for your personal circumstances.

Head over to BetterSaver to sort your KiwiSaver account today and start building a better financial future for your family.