Young and in a conservative KiwiSaver fund

Eleanor Barker wishes she had acted sooner to move out of a conservative KiwiSaver fund but says fear of losing money has kept her from making a decision.

The 27 year old social media producer was automatically enrolled into KiwiSaver nearly 10 years ago when she was still a student at university and took on a part-time job at a law firm working as a librarian.

"My mum was very encouraging about it. She sat all of us down and said the first opportunity we got we should sign up with it."

"At that point I was studying and not earning very much at all."

Barker can't remember the name of her original provider but has since switched to Westpac because the bank asked her if she would like to have all her accounts in one place.

She doesn't remember getting any advice around which fund she should be in at the time.

Barker says she likes the idea of KiwiSaver and locking her money in was particularly appealing as she had struggled to accumulate savings in the past.

After 10 years she has seen her balance grow to $30,000 and that growth has encouraged her increase her contribution rate to 8 per cent.

Initially she stuck to the conservative fund because she wanted to use the money to buy her first home.

But with Auckland's property market recent price jumps Barker feels like she will never get on the property ladder.

"I don't think so, because of the financial situation of me and my partner.

"I just feel very nervous about taking on a massive amount of debt that is even supposing a bank would lend us the money."

She is wondering if her money would now be better invested into shares like listed retirement village operator Ryman Healthcare.

"Now when I look back I think I should have acted sooner to get into a less conservative fund."

Barker says when she thinks about how much she might need to live a comfortable retirement it gets scary.

"I think you do need a fair wack in retirement. But I hope to be able to work as long as I can."

"I have no idea in terms of dollar figures."

Barker says she didn't learn much about money at school and says most of the stuff she has picked up from her mum.

"I'm not very money literate - I think a lot of people in my generation are very nervous about money."

What she has decided is that she needs to get some proper financial advice.

"When you get down to it there is a limit to how much my mum can advise me on."

"That is something I think I would like to get sorted this year."

Eleanor Barker, social media producer, wishes she switched out of a conservative fund earlier.