Investing for retirement

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According to figures in a study done by Massey University in 2023, a single person retiring at the age of 65, assuming they live until 90, will spend around $900k to $1.1m just to sustain a simple ‘no frills’ retirement lifestyle, and $1.5m to $1.6m if they wanted a more comfortable ‘choices’ retirement lifestyle.*

Will you have enough to do the things you love, when you retire? Use our calculator below to see how much money you’re estimated to have when you reach retirement.

*For more detailed information about retirement expenditure, read the full Massey University Study findings here. Total retirement expenditure calculations for the 25-year period are based on the current weekly expenditure figures published in the study and do not take into account the effects of inflation.

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Retirement Fund Calculator

See your estimated retirement savings/investment value

Using the findings of the Massey University study, if you were to save a lump sum of approx. $250k by retirement at age 65, this coupled with the current NZ Super entitlement, will be able to provide a basic ‘no-frills’ retirement (assuming you retire at age 65, earn no other income, live until age 90 and only draw on your lump sum savings when you need it).

Results

Starting amount: $

Contribution total: $0.00

Return total: $0.00

Final Amount in 0 years: $0

*‘Starting Amount ($)‘ is the current combined total dollar value of your savings and investments. *‘Estimated Annual Return Rate (%)’ is the average annual return you expect to receive. *The ‘Estimated Annual Return Rate (%)’ that you input into the calculator represent gross figures, and do not take into account the effects of any fees, taxes or inflation. You are also not guaranteed to achieve this Estimated Annual Return Rate each year nor in any one year. *The ‘Final Amount’ is not guaranteed. It is an estimated projection to help you with decisions about your fund choice, the risk associated and how much you should contribute. This Final Amount does not take into account the effects of any fees, taxes or inflation and assumes consistent contributions and a consistent annual rate of return.

  • What type of investor are you? 

  • Expected return figures are sourced from Sorted as at February 2024, and are before the effects of fees, taxes and inflation. Use the Sorted Investor Profiler tool to learn what your investor type is.

  • Aggressive 

    An aggressive investor can generally expect an 8.3% annual return*.
    Click here to know more about ‘Aggressive’ investors.

  • Growth

    A growth investor can generally expect an 7.1% annual return*. Click here to know more about ‘Growth’ investors.

  • Balanced

    A balanced investor can generally expect an 5.9% annual return*. Click here to know more about ‘Balanced’ investors.

  • Conservative

    A conservative investor can generally expect an 4.5% annual return*. Click here to know more about ‘Conservative’ investors.

  • *The expected return figures from Sorted are not guaranteed, nor is any one investor type guaranteed to always perform better or worse than other investor types, particularly over the short-term. Each investor type’s expected return represents a long-term estimate of the return it can achieve based on the mix of assets it is invested in.

Tips to help you boost your retirement fund

  • Start saving early:
    The earlier you begin saving for retirement, the more time your investments have to grow. Consider participating in the KiwiSaver scheme, which offers contributions from both you and your employer, as well as potential government contributions. 

  • Contribute regularly:
    Make consistent contributions to your retirement savings. Consider increasing your contributions as your income grows or whenever you have the ability to do so. 

  • Diversify your investments:
    Spread your retirement savings across a range of asset classes, such as shares, bonds, and property. Diversification can help reduce risk and improve the potential for long-term returns. 

  • Monitor and review your investments:
    Regularly review your retirement investments to ensure they align with your goals and risk tolerance. Seek professional financial advice if needed. 

  • Control your expenses:
    Keep your living expenses in check and strive to live within your means. Minimise debt and prioritise saving for retirement. 

  • Consider additional savings options:
    Apart from KiwiSaver, explore other retirement savings vehicles such as additional voluntary contributions to KiwiSaver, individual retirement savings accounts, or other investment options that suit your financial goals. 

  • Seek professional advice:
    Consult with a qualified financial advisor or planner who can provide personalised guidance based on your specific circumstances and help you develop a retirement plan tailored to your needs. 

  • Stay informed about changes:
    Keep up-to-date with any changes to retirement policies, tax regulations, or government initiatives that may impact your retirement savings. 

The steps mentioned above provide general guidance, and it’s crucial to consider your individual circumstances, risk tolerance, and long-term financial goals when planning for retirement. A financial advisor or planner can provide personalised advice based on your situation and help you develop a comprehensive retirement strategy. 

How InvestNow can help you invest for your retirement…

Access to 150+ Managed Fund investment options

With InvestNow, you can invest in 150+ Managed Funds (including ETFs and Index funds) from a range of expert New Zealand and global fund managers.
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Access to 40+ KiwiSaver investment options

With InvestNow, you can invest your KiwiSaver funds in up to 40 different managed funds from multiple leading fund managers, through the InvestNow KiwiSaver Scheme.
Learn more here. 

Access to Term Deposit options from 6 leading banks

With InvestNow, you can invest in flexible term deposits from 6 leading banks. No need to open any bank accounts – instant online access.
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