By Amanda Morrall
1) Self managed funds
A while back, in a nod to personal finance geekdom, I started a discussion forum for KiwiSaver on Linkedin. For the past year it's gone mostly ignored with the exception of occasional comments from my colleague Craig Simpson and Chris Douglas from Morningstar New Zealand.
Well, the past week this forum has seen a flurry of activity with financial planners commenting on the pros and cons of transporting super funds from Australia. (See also Simpson's piece exploring the merits of portability here).
This is in the wake of last week's story about the TransTasman Portability Agreement finally becoming law allowing (effective July 2013) both New Zealanders and Australians to move their super funds across with them if they should find themselves working on either side of the pond.
The strongest argument in favour of repatriating super savings has to do with consolidation and hypothetical savings on fees as well as the ease of administration having your money domiciled in one place. There are numerous arguments against which could nullify this advantage. One of them is losing the ability to self-manage your retirement if you're bringing money over from Australia.
We don't yet have a self managed option in KiwiSaver however it's a hugely popular and growing facility abroad.
The Financial Standard recently did some research on performance of self-managed funds and rated the experience of investors, 40% of whom check in on their funds more frequently than a fortnightly basis.
Wow, fancy that level of interest here.
2) If money didn't matter
What would our world look like if money didn't matter? It's become such an integral part of our way of life that it's beyond imagination really.
Forget about that big picture equation for a moment and ask yourself instead what you would do personally and professionally, "If money didn't matter."
Perhaps this is the question that should be asked of all graduating high school students in their final examinations before they set out on their journey into adulthood.
The video below speaks to this issue and how misdirected our educational system has become.
"Forget the money because if you say that money is the most important thing you will spend your life completing wasting your time.You'll be doing things you don't like doing in order to go on living that is to go on doing things you don't like to doing, which is stupid. Better to have a short life that is full of doing what you like doing, than a long life spent in a miserable way.''
3) Burn out vs career change
My favourite Valley Girl Marie Forleo, in her latest video blog, explores the murky question that eventually catches us all up; whether it is time for a career change or simply a holiday. Forleo, suggests there are four key questions that will help you arrive at the answer. I like No.1 "It's the law.'' The test is asking yourself what you would do if the law declared your occupation or business dead. Would you a) jump for joy; b) take on the law in a fit of outrage; or c) submit quietly and move on. Your answer to this question alone should be telling.
4) Earning more in 2013
It's been a while since I checked in with I Will Teach you to be Rich guy Ramit Sethi. For those of you looking to establish multiple income streams in 2013 or simply wanting to grow your income, Sethi this week is offering two free webinars. Follow the instructions on his blog to register. The window might have closed for one of the sessions but Thursday's (our Friday) on how to make more in 2013 is still open.
5) UK expats view of NZ
Hilary Osbourne, writing for the Guardian, offers a U.K. expat's view of life in New Zealand and all its offerings. Interesting that Auckland should be regarded as affordable for a one-income family. I was also intrigued to discover that more New Zealanders die each year from lawn bowls than scuba diving and that we have one of the highest number of bookshops per capita in the world. Not sure if this is still the case with more people transitioning to tablets but one of the best by far is located outside my doorstep in Herne Bay. You can find Novel on Facebook and its owner planted on the bench directly outside.
To read other Take Fives by Amanda Morrall click here. You can also follow Amanda on Twitter @amandamorrall