Do You Opt-in or Out to KiwiSaver?
Many people ask the question, why join KiwiSaver?
I want to share my Kiwisaver experience as I am a strong supporter in favour. That is coming from my experience of being on a low wage and joining back when the scheme first came out. Best of all I want to share how it has helped me.
Starting out with KiwiSaver was a good move and I was glad I talked my husband into it too. I am aware how hard it is to save but honestly, I have never once missed the money each pay. It also makes you feel good to know that that money is there and building up for a future nest egg. I will give you 5 positive reasons for being in the KiwiSaver scheme. Then tell you how it really helped us.
Here are my 5 positive reasons for joining with KiwiSaver
- An easy way to save money each week.
- Put $1,042.86 in over the year and you get $521.43. ( extra free money)
- Your employer also contributes to each pay.
- It’s a big help if you are buying your first home
- You will have some money to help with reaching retirement.
How KiwiSaver has already helped us.
Buying a house with the help of KiwiSaver My Story
The chance came up to try and purchase a house. My mother was terminally ill and a house next door to where she lived had been on the market for a year. I had been running into town from a farmhouse we rented. 7 days a week to help her in between a part-time job and this had been my life for 6 years. As the help she needed was becoming more time consuming I had plenty of motivation to find an easier solution. Plus I always wanted my own house.
The house next door was up for auction.
I went to the auction on the house next door and was amazed at the low bids put in. It did not sell and that got me thinking. I had saved a little and after going over figures on a mortgage calculator and looking at savings along with home start help through our KiwiSaver I figured we had nothing to lose so decided to give it a go.
We got lucky and purchased the property. Without the added help from our KiwiSaver, the outcome may not have been successful.
Sadly Mum’s illness won in the end. She was so happy we had a house and she enjoyed watching us put the gardens in during her final months.
I love the house and it is great for owning our own home. Best of all our Kiwisavers have recovered and are growing fast.
It pays to join KiwiSaver in my view, so glad we did.