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A financial health check-up can help establish your current financial situation along with identifying any strengths and weaknesses in your current financial protection plans. To help you be prepared for your insurance review, take the next few minutes to think about the following:

• Increased your mortgage(s) and or changed homes?
• Separated from your Partner or Spouse? Entered into a new relationship?
• Had more children? Had children turn 21?
• Are your children under 18? You may be entitled to FREE children’s trauma.
• Changed occupation including becoming self-employed?
• Had a pay increase or decrease?
• Stopped smoking?
• Further discussion on fixed/level premium options for those over 45?
• Had a change in health that may trigger a removal of an exclusion or loading on your insurances?
• Would like further discussion on KiwiSaver?
• Discuss a CPI (inflation) increase of $5,000 without having to complete any paperwork?
• Would like further discussion on Retirement planning?

If you have answered YES to any of these questions it maybe time for a financial review. Contact your adviser or phone the office on 03 3602001

Over the years, there have been many changes to what can be done with Pension Transfers and these changes are to continue in the future.

Numerous funds closed to new business as they could not fit within the guidelines set by HMRC, such as the AMP Retail Superannuation. This is now a locked scheme with funds available from either age 55 or age 65.

Then Kiwisaver was no longer available to transfer into as this did not meet the requirements of HMRC due to first home withdrawals and hardship withdrawals being available. These funds are available at age 65.

Investment platforms currently available have to use 70{07fabe19bcb0a5feb753c282254629c4216624d1bab5b4aa05d46841f923b8d4} of the transferred value to provide a lifetime annuity, same as available in the original pension schemes. The additional funds and interest earned can be withdrawn from age 55.

This is to change on December 1st with current investments becoming unavailable to new clients, but new clients will be under new rules.

The new rules are under the regulations of New Zealand Authorities rather than UK authorities. This also means a reduction in the amount that can be withdrawn at age 55.

If you have friends, family or colleagues that have private pensions still in the UK, it would be a good time for them to contact me to discuss the benefits for transferring to New Zealand and also the possibility of still being under the current options.

This will mean contacting me in the next few weeks to get discussions and transfer requests in place to initiate the process before December. This means more funds may be available at age 55 than with the new scheme after December.

Will you be able to afford a loaf of bread or a pint of milk in your retirement?

This year’s Money Week theme was based on how much you will spend on groceries in retirement. Over the week people were asked to estimate how much they would need for groceries over the 30 years they might spend in retirement.

This year’s Money Week theme was based on how much you will spend on groceries in retirement. Over the week people were asked to estimate how much they would need for groceries over the 30 years they might spend in retirement. The commission’s David Boyle said: “Only 11 per cent guessed correctly at between $250,000 and $300,000. More than two thirds underestimated, and nearly a third of those thought it would be less than $100,000.”

Because we are living longer our money also has to last longer. Having KiwiSaver makes it easier for us to save for our futures, the trick is to make sure our income last as long as we do once we stop working.

Your adviser can assist you with your retirement plan and will give you an idea of how much you will need to save so you can still afford your groceries in retirement.

Within days of bringing home from the hospital my new-born daughter, I got her added to our health insurance. Is this something that everyone thinks about or only me because I have a background in insurance? I didn’t want to get into a situation when we would have to wait to have surgery or get medical treatment.

Health care in New Zealand isn’t what it once was. Somehow in the last few years the words such as ‘waiting lists’ and ‘ACC’ have crept into our vocabulary’s. Those who are not willing to go on the ‘waiting lists’ have been known to take loans, re-mortgage properties to get the medial care they need. Then they spend years trying to pay off these loans. Otherwise, you sit on the waiting list and wait and wait …

My question to you is – is it worth all this stress? When all it took me was 5 minutes on the phone and bam my daughter was covered under our policy.

My gift to my daughter is knowing she is covered and not just with a blanket.

The other day one of our advisers asked me to text a client to remind them of several requirements which were still outstanding in terms of insurance underwriting.

“TEXT” a client!!!!

Look how far we have come. Technology has had a definite impact on the way we conduct everything in life. In the ‘good old days’ which in truth really weren’t that long along. people did all their business locally. Trips were regularly made to banks, lawyers, accountants even financial advisers. Ledger books and cheques were used and that mysterious thing call cash was actually carried.

Let me ask you a few simple questions when was the last time you entered an actual bank???? Do you have any cash in your wallet???

Nowadays those who do not have a cell phone/laptop/ipad or the latest technology gadget are considered dinosaurs, old fashioned and backwards. Business has changed. You can sit at home wearing sweat pants and runners whilst emailing your financial adviser, manage investments at a click of a button, talk to people on the other side of the world but just sound so clear that you would think they were in the next room or conduct business at 3am when overseas markets are just waking up.

Does this technological approach to life carry with it the personal touch? Or is it impersonal ?

Here at Ark Financial Group we have embraced technology. In our office alone there are 6 cell phones all with internet capability, but nevertheless we still have a wireless network. So what’s next for Ark? An app to download for smart phones? The added ability to work out quotes on the run. What about 3D imaging on your adviser? So at review time they pop up and go through your current covers??

As long as there is imagination – technology will keep changing.