The vast majority of Kiwi retirees will be reduced to living off the pension alone after just ten years of retirement, according to a new report by the Financial Services Council.
Most of us have thought about it – cashing in on property prices by selling up and retiring to the country or a smaller centre. But where would you go, and what are the chances that the reality will match up with your expectations?
People who want to have choices in retirement will need to have around $100k in their KiwiSaver account by age 30 to be on track, figures from Massey University show.
Retirement is not like it used to be. People are living longer, investment returns are lower and there is much more uncertainty in the world in just about every sphere you can think of.