In the current environment, what should be the best way ahead?
See Mary Holm’s response here
Got $100k, where’s a safe place to stash it? - April 9
A friend is about to receive a huge inheritance. On inspection, there seems to be no guaranteed safe place to keep the money while she is deciding how to invest. The new government guarantee of $100,000 per bank will not come into effect until next year.
What is the safest place to keep huge sums of money while you are working out your investment strategy? One financial adviser recommends splitting the sum between banks to reduce the risk.
I would like my friend to be able to sleep soundly at night knowing her money is safe. I would love to know what you think Mary.
See Mary Holm’s advice here
Ripped off, renting and 65-plus — don’t give up - September 10
We’re retirement age. I’m 72 and my husband is 65. We didn’t fare well in the 2008 crisis. Tried to make it up — made silly mistakes — then we were scammed five years ago, not only left with credit card debt but lost our house and a small fortune. Fifty years of hard graft down the gurgler.
It took us two to three years to come to terms with the predicament. I was totally suicidal as we had had beautiful houses.
We can’t get a mortgage at our age, and when my husband retires from building, we’re looking down the barrel of moving into a council flat. We are renting at $500 a week.
We only have a window of, say, 10 years to make enough money to buy a house.
Quite frankly, I think we are stuffed, but I remain upbeat for both our sakes. We are in great health and ready to work hard for the next 10 years. I don’t want to die without owning a house. What would you do?
See the advice here
Everyone wants a home of their own - or do they? - April 30
I was hoping to get another perspective on our situation. My partner and I have been renting at a very reasonable rate for more than 10 years. I am 40 and he is 50. Our house is now being sold, and we have been looking at properties to buy. We have savings of around $350,000 and have been pre-approved to buy for $750,000.
However, something in me resists the idea of buying when we could keep investing as we have, especially with rising interest rates at the moment. I’m really not sure what the best path forward is for us!
See Mary Holm’s reply here
Approaching 65 and just $18k in KiwiSaver - November 19
I feel silly asking this with such a tiny amount! Wasn’t in KiwiSaver for very long sadly, but after the past two years my total is a paltry $18,000.
If younger I would just keep adding to it, but wish to withdraw $10,000 when I turn 65 in a few weeks. Should I leave the remainder and keep adding a bit here and there, or am I likely to lose that?
See the response here