If you want your money to do more, a KiwiSaver growth fund is a great option. There are plenty of options in the New Zealand marketplace that can fit your needs. You can take a look at the options from the ANZ growth fund, Milford growth fund or any other NZ growth fund by comparing KiwiSaver schemes with glimp.
A KiwiSaver growth fund is usually regarded as a medium to high risk relative to other KiwiSaver funds. A larger percentage of your fund goes toward investments like shares and property instead of bank term deposits. These growth funds have a tendency to fluctuate with the market, so you’ll want to be prepared for that.
A conservative or slow growth KiwiSaver fund can be too slow for some, especially if you are younger and can afford more risk. If the market goes your way in this type of fund, you’ll reap the rewards long term as each year the interest will keep compounding. You can shop around providers for a growth KiwiSaver scheme and choose the KiwiSaver provider you trust the most to deliver high yields.
Since you’re playing the market with shares and property instead of the old reliable bank term deposits, you’ll be set for potentially bigger gains, but also the chance of some losses. Ultimately the risk is fairly low, it’s not very often that the market steps backwards, but if you are going to rely significantly on your KiwiSaver for use in the not so distant future, you should weigh that risk seriously and potentially choose a lower risk fund.
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