How a $44b firm plans to fix retirement funds | nzherald.co.nz
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- Опубликовано: 8 июн 2024
- The newest finance firm, FirstCape, is on a mission to grow individual's retirement savings to ensure we can retire on more than state pension payments.
Videography / Editing | Carson Bluck
00:00 - Intro
01:22 - Interview with CEO & Chairman
05:08 - Investor outcomes
06:13 - Retirement income gap
13:15 - KiwiSaver changes
16:17 - Property obsession
17:22 - Household net worth
18:17 - Wealth inequality (assets v. none)
22:42 - Inheritance tax
24:58 - Baby Boomers: 'The great wealth transfer'
28:21 - Millennial & Gen Z investors
29:55 - Bitcoin
30:27 - AI
30:59 - Sustainable finance
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Malcolm and Matt are two people I have a lot of time for. They only did one interview together - this is it.
I'm testing a new format of this show to introduce more in-depth topics throughout the interview. No studio used in this episode, which you may start to see more of too. Keen to hear if you like it or not, let me know!
Madison
Saw a LinkedIn post by mate on the merger and formation of First ape and this popped up. Loved the long form conversational format to inform people of the issues around such important topics. Really great format. Enjoyed it a lot. Cheers!
If you are planning for retirement Here are some key pointers. Firstly, kick-start your savings early to benefit from compounding. The longer your money has to grow, the better. Secondly, make the most of retirement accounts like 401(k)s and IRAs, especially if your employer offers a matching contribution - it's essentially free money. Thirdly, diversify your investments across different assets to mitigate risk. Think stocks, bonds, and real estate.
Great advice for retirement planning! Starting early and taking advantage of employer-sponsored plans can make a huge difference in the long run. And diversifying investments is crucial for managing risk. Thanks for sharing these valuable tips!
Spot on! Planning for retirement is crucial, and these pointers are gold. Diversifying investments is a key strategy plus, having an investment expert by your side can really help navigate the complexities and optimize your financial plan.
Absolutely! Diversifying investments is crucial for long-term success. Having a fiduciary has been transformative. She navigates market fluctuations, identifies opportunities, and keeps me on track for retirement. Her tailored advice boosts confidence and informed decisions. Trusting her skills brings peace of mind, ensuring my future is secure.
That’s impressive, please how can I reach her
She's Sophia Elaine. One of the finest portfolio managers in the field.
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
I'm hoping to end the rat race by 60, I’m 52, $600K net worth.
I wholeheartedly concur. At 60 years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor.
I had a similar thing happen. I had a Roth 401K for a while. I was getting ready to retire in 2020, so in late 2019, I moved it to a Roth IRA with a big brokerage. They said the 5-year rule starts over, so by 2024, it's all good. Also, I moved a traditional 401K there too, but kept it separate from the Roth. My employer’s admin said I was the first to do just a Roth 401K transfer, so they had to update their system for it. Luckily, it was quick. Good luck with your situation!
This aligns perfectly with my desire to organize my finances . Could you provide me with access to your advisor?
Well i was guided by Eric Paul Elmer.
Money is not meant to control people, rather it is meant to be put to work producing more money for you. You cannot build wealth without putting money in its rightful place.
"Wealth inequality creates social instability" - I like this man.
"And nobody wants that." I loved that quote too! Madison
What is the best strategy to enter crypto trading now for someone with more or less than $7000?
You need a pro or very goodTrader. Someone like Stephany Reuben
Steph excels at capitalizing on economic shifts and I have confidence in her trades
Almost gave up trading due to constant losses, but Steph turned my luck around
Now they yield about $13000 monthly
any idea on how i can get ahold of her?
well done madison and the people inter viewed , you able to get them to talk freely , we need more of this , as a lot of us will never see any pensions ,
Great format for Saturday afternoon viewing
Is the herald now just a promotional channel
This is by no means a promo for this firm. They had absolutely no say in what I asked them. I made this a broader discussion about the uneven consequences of capitalist systems - I'm sure they would have rather not talked any of that! But they hold a lot of power and I think it's important we all know their thoughts on it. Thanks for watching. Madison
So this action should of been mainstream 10years ago and yet nobody said or did anything...amazing. is there hope apart from more of what we've already got...problems 20years bigger now...
@ 9.36 if we end up with deflation , 30 k will be more than enough money to retire on .
have a look at your vid with adrin orr , your got him say the real inflatlion rate , which in his own words was 19%
@ 7.42 ask the aussie's how compulsory work place saving is working out for them . is has already been inflated away , and they are still paying into it .
the super funds have the same problem as government .
and that is when we the people allowed the banks to print debt for house's , we created inflation in the cost of living and wages never kept up .
and now we need people with no desposable income to pay extra tax and pay into a compulsory pension . we will be bankrupt .
now google who holds most of the public debt in new zealand . you will own nothing and be happy
Depending on your super how you have set it up. also when the pandemic was happening the government allowed people to dip into super funds up to 20k in a limited time, I still have all my super and not work the last 12 years and still it grows. Reasons I never lost nothing is I on the low risk, the people who lost money is because high risk set up, and unfortunately it's in the realms of greed mentality that thee actual corporates play themselves. Other points is you didn't touch the 20k option. Because more fees inbound later. Lastly, the now times is in need for questions. From super funds losses to high food prices. Hope I help
wrong I moved here 16 years ago had no super and in Aus you can create a smsf which i did and now have control over my super
7:20 "Can we afford that?" No answer.
Interesting chat, dropped the ball on BTC tho
Mergers cause monopolies. Monopolies create bad times.
Beware of he who stutters & pauses when money's involved
Exactly, these two rich cats wont feel a thing if the world goes pear shaped.
I'm a 70 year old great grandfather, born and bred kiwi and have been left destitute by my government when they cancelled my pension 4 years ago.
Why?because i dared to stand by my Spanish wife when she had to return to Spain to look after her elderly parents.
What is truly disgusting is the same government gave millions of hard-earned New Zealand taxpayers dollars to Hillary Clinton and the Taliban.
do your research on black rock......
❤❤
Bitcoin “It’s not something I have deep knowledge on”. Oh ok… not worth looking closely at the best performing asset of all time? Let’s check back in 10 years. I think you will be left in the dust.
the baby boomer comment was interesting , my parents were boomers . but by 2060 they will have been gone for over 25 years and i will be on deaths door if i am still alive .
what everyone miss , is if the money is repaid to the people who paid in . the pension fund has to go away . that is why we are inflating every thing ,
and then we have government , who rule us at our request , who can pass any law they like on our behalf
That's why we vote for them. To make decisions on our behalf. If we don't like what they want to change. We don't vote for them. That's why voting is important. The more votes a party gets. The more of the country that agrees with them. It's why the media is funny. They make out no body likes nat but the majority of kiwis voted for them. So the majority of kiwis like them
@@mvb88 i have watched wintson blow up 5 governments , he is on track to make it 6 , and i was a wintson fan boy until her joIned HER , before the fairy tail started .
wintson and trump have the same masters , only wintson and trump could have passed some mandates with out a full on rebellion
@@mvb88agree wholeheartedly with the democratic process but I don't think National had majority and needed 2 coalition partners to form the the government. Within that coalition they have the majority vote. However, as it playing out, the minlroty parties seem to attributed more power then the votes they represent....
@AAL3087 out of all the votes. They got most of them. They only needed act and nzf so they can get the legal amount to be leader. Remember that a party needs a minimum percentage of votes to rule alone. They still got more votes than any other party.
@@mvb88 sorry, to be clear, I was responding to your point about the majority of kiwis voted for them therefore the majority of kiwis liked them. They got 38% of all kiwi votes. That does not represent a majority by any measure of the total votes.... So a portion of kiwis liked them.... At the time .... May look different today...
this insightful information that can be contributed to understanding maori treasured the land and why that unhealthy obsession is connected to the unjust confications of maori land can really illustrate the greed that was underlying the known novel stories. thanks guys, appreciate the work.
time to school yourselfs up on btc im amazed they havent looked at btc ETFs in the States by the time they get schooled up itll be worth hundreds of thousands im happy to front run these peps just shows you can be smart but clueless