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 an Authorised Financial Adviser (AFA) and former lawyer with experience in the financial services and trustee industries. Sonnie operates Fairhaven Wealth (