One of the most common questions I get during financial literacy sessions is:
🧐 “Am I contributing enough to my KiwiSaver?”
With changes to KiwiSaver on the horizon, now’s a great time to take stock. The good news? There are some fantastic free tools you can use to get clarity. Today, I want to show you how you can check whether you’re on track for a retirement that suits your lifestyle.
🛠️ The Sorted KiwiSaver Calculator – Your New Best Friend
The Sorted KiwiSaver Calculator (sorted.org.nz) is one of the best free tools we use in our workplace financial literacy sessions. Here’s how to use it:
- Head to sorted.org.nz
- Click on the ‘Tools’ tab
- Select the KiwiSaver Calculator
- Choose your goal: Retirement or First Home
- Plug in your numbers – age, income, current KiwiSaver balance, contribution % and fund type
🔍 Example: A 30-Year-Old Earning $70,000
Let’s say you’re 30, earning $70K per year, with $5,000 in KiwiSaver and you’re contributing 3%. If you’re in a balanced fund, the calculator suggests you might have around $230,000 by the time you retire at 65.
Not bad… but is it enough?
If you increase your contribution to just 6%, you might end up with $274,000 instead.
And if you work your way up to 10% (especially as your income increases over time), you could retire with over $500,000 – that’s an extra $477 per week to live on during retirement.
💡 Small Adjustments = Big Results
Even if increasing your contributions today isn’t possible, planning to do so when you next get a raise is a smart strategy. Every little bit truly does count – especially with compounding returns over time.
Plus, the calculator assumes your salary doesn’t change, which we know isn’t realistic – most people’s income grows over time.
🎓 Want to Learn More?
I’ll be diving deeper into this topic during my FREE one-hour webinar on:
📅 Tuesday 25 June
🕐 1:00 PM (NZT)
💻 Online – join from anywhere
We’ll walk through:
- How to use the Sorted tools for KiwiSaver
- Understanding fund types and what’s right for you
- What upcoming changes to KiwiSaver mean for your future
- Strategies to boost your retirement savings without feeling the pinch
👉 Click here to register now (spaces are limited)
If you're unsure whether you’re on track, let’s clear that up together. This webinar is great for employees, business owners, and anyone keen to better understand their KiwiSaver.
Until then – here’s to your financial confidence and clarity!
Warm regards,
Kara Northcott
Independent Financial Consultant & Financial Literacy Facilitator
027 666 6784
📩 kara@financialconsultant.co.nz
🌐 kara-northcott-financial-consultant.kit.com
