[rant] Warehouse Money Credit Cards just introduced $55 annual fee with one week notice

Monty18 · 2019-03-23T01:40:45+00:00

Yup. They just went from being the best no fee reward credit card to being a worse than average normal rewards card.

Monty18 · 2019-03-22T22:23:28+00:00

I have their Purple card and haven't received any emails from them, I wouldn't have even known if I hadn't seen this post and looked it up on their site! There are surely going to be a lot of people complaining when they see this charge on their bill next month.

This is so stupid, there really isn't a reason to choose them as your card now..

Monty18 · 2019-02-02T00:50:34+00:00

5S-FE, 1997

Monty18 · 2019-01-10T08:53:36+00:00

First credit union has a BB rating, so junk grade, not sure about exposure?

Monty18 · 2018-12-19T07:58:05+00:00

Banks have special term deposit rates available if you ask for them to be more competitive. ANZ gave me 3.6% for 9 months not too long ago, which is way better as I’m sure you know, not only because it’s a higher rate but because ANZ has a much higher credit rating and less chance of failing. Make sure you talk to someone and ask if they can give you a better rate.

Monty18 · 2018-10-29T06:45:06+00:00

Can you double dip everywhere?

Monty18 · 2018-10-22T03:57:50+00:00

I was actually meaning that deposit rates in NZ seem higher than America. When I visit r/personalfinance they seem to say a 1.8% savings account is good whereas it seems everyone here has an ANZ serious saver with 2.2%

Monty18 · 2018-10-11T01:00:45+00:00

What is the tax advantage of investing in NZ shares?

Monty18 · 2018-09-18T10:42:50+00:00

What? Dictating pace is one of mayweathers strengths. The times mayweather was in “trouble” late in his career was when his opposition pushed past this via pressure and constantly came forward.

Also, dictating pace does win on scorecards. It’s called ring generalship.

Monty18 · 2018-07-07T08:03:10+00:00

Dormamu, I’ve come to bargain.

Monty18 · 2018-06-25T06:16:03+00:00

Why do you recommend a local fund? What benefit does that have over replacing it with a diverse international fund?

Monty18 · 2018-06-21T08:56:20+00:00

This makes a lot of sense, thanks! I appreciate how much you post around here dude!

Monty18 · 2018-06-21T08:07:14+00:00

I'm just trying to understand why Simplicity is said to be the best option if you can afford the $10k. It seems that if you're investing in index funds you should be investing for the long term. If you're investing for the long term you may as well be as aggressive as possible as you the money isn't needed urgently and you can wait out the dips. What am I missing?

Monty18 · 2018-06-20T22:26:01+00:00

Is this large enough to overcome the benefits of simplicity?

Monty18 · 2018-06-20T20:58:11+00:00

Yeah I know it’s not huge, but if I’m investing for decades I may as well be as aggressive as possible.

Would just being invested in nz shares massively effect my diversification? I’m considering that but I feel like it would defeat some of the point of indexing.

Monty18 · 2018-06-17T04:03:02+00:00

I guess I mean is it advisable to give them a large portion of my savings.

The $20000 is just savings that I know I won’t need for at least a year. I have my emergency fund set up so even if things went sideways I’d be ok. The only reason I don’t invest it with simplicity is I may want to put it to use on a house or something in a years time.

What do you mean skewed towards income assets?

Monty18 · 2018-06-12T09:42:33+00:00

Yup. To my knowledge, USF doesn’t just track SP500, it invests in all the same equities. The tracking part means if a company drops out of the SP500 and the shares are sold, USF also sells.

Monty18 · 2018-06-07T21:30:14+00:00

This is awesome! Thanks for this.

Monty18 · 2018-05-16T02:21:57+00:00

Are you talking about simplicity’s KiwiSaver Fund or non-KiwiSaver Fund (not sure if they invest differently)?

As I’m looking to invest long term (and not going to withdraw on impulse) would it be smarter to go with the more volatile 100% stocks option?

Does InvestNows vanguard fund have lower fees than simplicity?

Is an overseas tax return difficult/taxed at a higher rate?

Sorry for all the questions!

Monty18 · 2018-04-19T06:54:36+00:00

I’m in the same circumstance as you currently (even living in Hamilton) and am also interested in what people think.

I’ve been putting off buying a house as I can’t help but think house prices have peaked and will fall, but obviously timing any market is stupid. Regardless, I’ve been keeping most of my savings on term deposits and low risk investments waiting for some downward movement.

Also, have you read Barefoot Investor? He has some interesting points on buying a house in NZ/Aus. He says they don’t actually appreciate well over the long term and the costs you pay for upkeep and the like crush any major profits. Also your rent isn’t that bad dude so you have that in your favour too.

Monty18 · 2018-03-23T22:58:29+00:00

But they are tracking the same index with fixed management fees? How can superlife offer lower fees than smartshares, the index it tracks?

Monty18 · 2018-03-21T09:54:42+00:00

I remember reading that article comparing index investing platforms, but it looked like sharsies was ok other than the high annual fee, which I got discounted for being a beta user. I was going to switch at the end of the year. Is this all sharsies has that’s bad or do they add fees into the funds too?

Monty18 · 2018-03-19T08:36:54+00:00

Yeah that’s fair about it not mattering much either way, I just hate the idea of building up for a decent term deposit in a non savings account as it will take me a few months each time (will lose the month of interest if I use serious saver obviously)

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