MMS #15 | Choosing the right KiwiSaver fund for you & why this is such an important decision!

Listen to this episode from Money Made Simple on Spotify. In this second episode for 2024 - where has January gone! - Liv and Jennie dish the dirt on KiwiSaver fund types, and why being in the right fund for you is so damn important. Hint: it can make a BIG difference to how much money you end up with at 65 (we're talking potentially tens of thousands of dollars or more!).  We take a look at the five basic KiwiSaver fund types, explain the basics around risk vs returns and chat about why you need to be super realistic about your own attitude to risk.This week's episode covers:What do we actually mean by a "fund" and what are the advantages of pooling your money with other investors - aka managed funds? The five KiwiSaver Fund types - Defensive, Conservative, Balanced, Growth and High Growth/Aggressive - and the very key differences between themThe risk-reward tradeoff - why you have to accept more risk if you're gonna be chasing those higher returns!The role that time plays in choosing the right fund  (i.e. when do you need/want to access this money?)Other factors to consider when choosing your own KiwiSaver fund (and provider!)Resources we mention in this episode:Sorted.org - KiwiSaver Fund FinderSorted.org - Smart InvestorSimplicity - Fund selector toolOne we didn't mention but could be super useful  when looking into what's the right fund type for you:   Moneyhub: How to choose a KiwiSaver Fund.Once you've listened to this episode, hopefully you'll have a much better idea (if you don't already!) around if you're in the KiwiSaver fund that suits you best, or whether you maybe need to reassess your fund choice (perhaps using one of the tools above). We want to arm you with the best chance of planning your ideal financial future!EDITOR'S NOTE:  Simplicity's fees as mentioned in the podcast - 0.25% p.a. for all diversified funds - take effect Thursday 1 February 2024.   Before this date they were 0.29% p.a.---Please help us share the good word (and make Kiwis richer and smarter with money) - the more we grow, the more good we can do %) Don't forget to follow, subscribe and rate the podcast if you found it useful!Find us: InstagramFacebookLinkedInDisclaimer: This podcast contains personal opinions and is intended to provide educational information only. It doesn't relate to your particular financial situation or goals and is not financial advice or recommendations. Simplicity New Zealand Limited is the issuer of the Simplicity KiwiSaver scheme and investment funds. For product disclosure statements please visit Simplicity's website simplicity. kiwi.