Kiwisaver - if you're young, get engaged! You'll be glad you did.


Too many people give too little thought to Kiwisaver and are still in their default fund with the default options!

What does this mean? If you're young, you could end up with tens of thousands of dollars less than you otherwise would. The difference could even be in the six figures. The video above illustrates this.

UPDATE: A week after I posted this, The NZ Herald reported on Morningstar figures showing "an employed person on the median wage would already have $5,000 less in their KiwiSaver account by being in a conservative fund compared to a growth fund over the last 10 years". Extrapolate this over another few decades, and consider that as people's balances continue increase due to their contributions and their employers' co-contributions, and you can see this scenario playing out in practice.

Sonnie Bailey

Sonnie is the founder and principal of Fairhaven Wealth.

Before founding Fairhaven Wealth, Sonnie worked in the legal and financial services industries for over a decade.

Sonnie first became involved with financial advice as a specialist financial services lawyer. For many years, he was an “adviser of advisers”, reviewing thousands of advice files prepared by hundreds of financial advisers, and providing feedback in relation to the quality and appropriateness of advice; industry best practice; risk management; and regulatory compliance. He has published work in industry publications and spoken at various financial advice conferences.

Sonnie has also worked with banks, investment management firms, insurers, and derivatives providers.

Sonnie has worked as a private client lawyer, focusing on succession, estate planning and trusts. He ran his own legal firm in Australia before relocating to New Zealand. He has also acted in independent trustee and company director positions.

Sonnie is passionate about helping people achieve their goals and manage the risks to which they are exposed.

He has written extensively on his blog, New Zealand Wealth and Risk, which can be found at

Sonnie is married to his wonderful wife Chrissy, and has two young children, Ben and Anna.