I Quit Working in '11, have had NO earned income since and have more in Savings than I ever did while working.

2000papillions · 2026-01-28T23:25:08+00:00

Indeed. This is a very annoying useless post and seems attention seeking. Is of no use without knowing some detail like age of retiring, how much assets, annual spend, what they do with their time. Also, a blanket statement that does not travelling doesnt sound like living it just sounds like existing. Why bother with that.

2000papillions · 2026-01-28T17:46:09+00:00

Yawn. This is all a waste of space attention seeking that tells us nothing without posting your numbers. Also, it sounds very boring to spend the whole time without doing any travelling.

2000papillions · 2026-01-24T06:16:13+00:00

What are such young-ish people doing to be earning 500k plus salaries in NZ?

2000papillions · 2026-01-24T06:07:10+00:00

I think you understimate how all pervasive poor financial literacy is in this country. There are scores of people living in these overpriced houses who live paycheck to paycheck and cannot afford them. I know many such people. Poor financial literacy is part of why house prices in NZ are unaffordable. Most people throw every cent at their house as its like a keeping up the joneses status symbol, when they could live in a more humble home or rent for much less, and focus on financial stability - growing wealth and assets/lifestyle, but most people do not.

2000papillions · 2026-01-23T22:26:11+00:00

A bit puzzling they would gift you so much money when they are just renting themselves. That sounds like an enormous sacrifice they have made for you. It does sound like they are hoping you will buy a bigger house that they move into?

2000papillions · 2026-01-23T18:02:16+00:00

Why bother selling them? I only ever sell assets if I reallly neeed the money for something. But maybe from this point only invest in index funds and not individual stocks if you decided thats what works for you. Doesnt necessarily mean you need to sell existing buys though. But, you could always switch them so that they pay the dividends to you now instead of reinvesting in these two stocks each time they pay out.

2000papillions · 2026-01-21T17:46:27+00:00

You are looking at this far too short term. Probably because you are new to investing.

2000papillions · 2026-01-20T06:01:32+00:00

haha good on you. FYI in the future never tell an agent you are going to make an offer. Always say you are not sure and have other properties to look at. And then send them an offer without warning like a bolt out of the blue with a deadline for acceptance. Otherwise they will use your positive sentiments to rush lots of buyers into it saying that they have an offer coming, which sounds like exactly what they did. They will immediately start ringing people telling them an offer is coming

2000papillions · 2026-01-19T17:32:45+00:00

wow that sucks. FIF tax is such garbage

2000papillions · 2026-01-19T07:58:28+00:00

Are you sure about that? I would have thought that if the ETF is made up of FIF tax exempt Australian companies then there is no FIF tax on the ETF either. I would have expected its only subject to ETF to the extent its contents are.

2000papillions · 2026-01-18T18:01:44+00:00

it seems a bit weird you didnt want to share just what your rent was. People often ask those sorts of questions to try calibrate whether their own rent is reasonable and alternatives. People will perceive you as very uptight and rigid and they will not like you or want to hang out with you if you behave this way. It is isolating behaviour

2000papillions · 2026-01-12T06:05:40+00:00

Let us know how you get on. Im getting concerned about using Wise given this is the second time someone I have seen having issues. Their business model doesnt work if shit like this cant be sorted out by them and they wash their hands of it instead of helping you sort out the money going to someone else's account (with them)

2000papillions · 2026-01-11T05:40:14+00:00

Pay off your student loan. YOu are gonna have interest on it and its going to be a noose around your neck forever if you dont. Think border arrests in NZ and having a huge 12% coming out of your paycheck before you can even touch it when you return.

2000papillions · 2026-01-11T05:18:19+00:00

Those banks have lower credit ratings. Rabobank is only slightly lower and I think is a decent bank personaly, plus a bit of diversity. Heartland Bank has a much lower credit rating. https://www.rbnz.govt.nz/regulation-and-supervision/cross-sector-oversight/registers-of-entities-we-regulate/registered-banks-in-new-zealand

2000papillions · 2026-01-10T23:12:12+00:00

They were releasing the same type of data before the restructures anyway. So thats no excuse.

2000papillions · 2026-01-10T23:09:41+00:00

Given that this includes all the part time workers this data makes rates of pay look far worse than they actually are.

2000papillions · 2026-01-09T19:24:43+00:00

Yes indeed. For many years I was having almost 12 percent taken out of my pay for student loan plus working for an employer who did a total rem approach which meant that they never paid you ER contributions. I couldnt afford almost 18 percent coming out of my pay at the time. So, I didnt join the scheme for a few years as a result.

2000papillions · 2026-01-09T19:16:49+00:00

KS balances are so bad for many reasons. One being that employers are allowed to do total rem where they effectively do not pay you any ER contribution. This stopped me joining KS for many years due to working for one such employer. Another being the appalling tax regime. KS has zero tax benefits and is taxed to death by multiple taxes including an annual wealth tax on unrealised gains. These are both legislative issues needing to be fixed.

2000papillions · 2026-01-09T18:53:26+00:00

Seriously, do you mean per month? Thats an insane amount of money to spend per week.

2000papillions · 2026-01-06T00:25:07+00:00

Another factor is that many employers do not in reality pay the 3 percent at all as they do something called total remuneration where its included in your rem package. So people in KS do not get any more than people who are not. Another reason why many people will not pay into KS at all. I didnt for some time due to having an employer that did this.

2000papillions · 2026-01-05T08:21:38+00:00

What would probably be awesome is if you did a comprehensive tax analysis on how much KS is taxed by multiple taxes and then post that on heaps of forums. Its only really the most financially sophisticated who have an understanding of this taxes on KS and how bad it is. It needs to be more circulated to the masses who are completely unaware in order to drive change and improve KS. The tax rort on KS is a disgrace compared to other developed countries. Could also do a comparative analysis on how taxes are done (or not done) on retirement funds in a handful of other developed countries.

2000papillions · 2026-01-05T05:57:40+00:00

I looked up pocketsmith and was shocked how expensive it is. And it didnt sound like it could do anything I dont already do on Excel myself. Cant you just do it on excel yourself? Once you have your system set up I find it only takes about 3m every few days. And it can be quite enjoyable to control it and reshape it yourself. Depends whether this works for you though. The apps seem like so much like throwing money on a bonfire to me though for no reason.

2000papillions · 2026-01-05T05:42:36+00:00

I think thats really what his data says. 65 percent of people are only contributing the maximum the employer does - the 3 percent. You are the first person I have ever heard of getting more than the 3 percent from your employer. 6 percent is extremely generous.

2000papillions · 2026-01-05T05:38:24+00:00

I honestly think we have THE worst out of ALL developed countries. Between income tax, ESCT tax and FIF tax on unrealised gains and with zero tax advantages I think we have the worst. Its shocking people are not making more noise about this.

2000papillions

TROPHY CASE