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Artificial Intelligence Rod Drury on new developments
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How to spot a scam – p24 The benefits of insurance – p37 Avoid investing mistakes – p42 Know your home’s true value – p56
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N A E N OP PU W KA O TA O N I UD ST
SPRING 17
24
ISSUE FOURTEEN
He may be well-dressed, well-spoken and have a great investment to offer you, but can he be trusted?
CONTENTS YO U R I N VES T I N G PERSONAL FINANCE
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Beware of the Wolf
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Back from the Brink
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Take Your Pick: Choosing the Right Adviser
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Everything’s Going to Be All Right
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Top Five Investing Mistakes (And Why We Make Them)
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Not All Bonds Are Created Equal
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Five Easy Ways to Boost Your Income
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Tax Tips for the Age of Airbnb
He may be well-dressed, well-spoken and have a great investment to offer you, but can he be trusted? Martin Hawes explains how to invest safely. 28
When things go wrong, they can go really badly wrong – and you could be left facing bankruptcy. Amy Hamilton Chadwick looks at what you need to do to survive a financial disaster. 32
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When you put your money in the hands of an adviser, how do you know they can be trusted to do the best for you? Jack Powell explains how to tell the good advisers from the bad. 37
Bad things happen to nice people. And that person just might be you. Brenda Ward talks to the experts about why paying for insurance might help you sleep more soundly at night. 42
Back from the Brink
42
You could be undermining your best efforts to grow your portfolio. Caroline Ritchie looks at the five most common errors investors make. 48
If you have a KiwiSaver account, you’re probably invested in bonds. Their reputation as a ‘safe’ investment shouldn’t blind investors to the risks, writes Paul Gregory. 50
Empty bach? Paying for campervan parking? What you don’t need right now can be rented out as part of the ‘sharing economy’ to put money in your pocket. Amy Hamilton Chadwick finds out how to turn an asset into an investment. 52
With the shared economy growing, Kiwis renting out their assets may find themselves with increased tax obligations. Anand Reddy suggests some things to be aware of.
Top Five Investing Mistakes
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What Your House Is Really Worth
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Boomtown Stats
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Charitable Giving: How Much Should You Give?
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An Easy Way to Give
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Xero Business: The Missing Millions
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Xero Business: Smell the Coffee
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Five Minutes with Sir Eion Edgar
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JUNO and Continental Cars Men’s Wealth & Wellbeing Seminar
Stories of people selling their homes to shysters for less than their real value send a chill down a homeowner’s spine. But how can you find out the true value of your house? Brenda Ward investigates. 60
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A review of the property market by Jeremy O’Hanlon of Homes.co.nz. 62
Thinking about your charitable giving as you would any other investment gives you freedom to prioritise the issues you care about over random requests for donations, writes Karyn Tattersfield. 68
Let your financial adviser take care of your investments for charity using a method of giving that’s new to New Zealand, writes Julia Capon. 70
What Your House Is Really Worth
A new wave of second-generation cloud accounting will utilise artificial intelligence and machine learning, says Rod Drury. 72
Al Keating shares his passion for Coffee Supreme. 74
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Dunedin-born businessman and noted philanthropist Sir Eion Edgar. He shares his views on trust, success, and what to do when investments go wrong. 76
Book now for this inspirational event with speakers fund manager Mike Taylor, health professional Dr Tom Mulholland, and entrepreneur Dion Nash.
Smell the Coffee
YOU R I N VES T I N G M A R K E T I N S I G H T S for the sophisticated investor
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Chart Review: Battles in the Sky
Netflix has disrupted the satellite television industry, and the results have been spectacular, writes Mike Taylor. 100
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Stocks on the Move
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Snapshot
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Agribusiness: Grass-Roots Investing
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How to Manage Risk When Trading
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Is Inflation About to Take off?
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South Korea – Riches and Risk
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Mark Devcich and Chris Bainbridge provide a backdrop to the rises and falls of four stocks on the Australian and New Zealand exchanges. 102
A glance at events affecting the global economy. 104
The resurgence of the New Zealand rural sector is good for producers, communities, and investors explains Jeremy Keating. 108
Having a risk-management strategy is essential in business. And in the fast-moving environment of financial markets, it’s even more important, says Chris Smith. 111
Agribusiness: Grass-Roots Investing
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The world economy has been performing well but, contrary to the rules of economics, inflation has been low. Andrew Kenningham explains why it may stay low for a while, and how this leaves policymakers and households with a dilemma. 113
South Korea has a booming economy, plenty of innovation and improving corporate practices yet, on the face of it, its share market appears cheap. Victoria Harris looks at what’s going on there.
South Korea – Riches and Risk
78 The racing industry is fast-paced, volatile and exciting. But can horses also be a good investment?
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JUNO and Continental Cars Women’s Finance & Wellbeing Seminar
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What We Like
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Horses for Courses
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A review of the Winter event.
The racing industry is fast-paced, volatile and exciting. But can horses also be a good investment? Annie Cooper talks to owners and investors about how to win. 84
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How to Stress Less
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Treasures of the Inca
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Mediterranean Dreams
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Essentials
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Book Reviews
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Subscribe & Win
Stress is the health epidemic of the 21st century, says the World Health Organization. Sarah Laurie found our biology causes it – but can also solve it. 86
The vanished Incan empire left behind a remarkable legacy, writes Ute Junker – its stunning cities, with the magical Machu Picchu as its most awe-inspiring. 90
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A meal at Gerome in Parnell, Auckland, takes Brenda Ward back to a delicious shared feast in an orange grove in Greece. Plus the recipe for Gerome’s famous Loukoumades (Greek doughnuts). 92
Treasures of the Inca
Mediterranean Dreams
96
The cleverest, most colourful things expand from small packages to brighten your days, as the seasons change. 94
Sarah Ell reviews The Wizard of Lies: Bernie Madoff and the Death of Trust, by Diana B. Henriques; and Transition: How to Prepare Your Family and Business for The Greatest Wealth Transfer in History, by David Werdiger. 96
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Kiwi Wealth Limited is the Issuer and Manager of the Kiwi Wealth KiwiSaver Scheme (the Scheme) and is a related company of Kiwibank Limited. Kiwibank is a distributor but is not an issuer or manager of the Scheme. The Product Disclosure Statement for the Scheme is available from kiwiwealth.co.nz KWB 4213/JUNOA
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Mark is Head of Research at Pie Funds and has overall responsibility for research and company analysis. He is also the portfolio manager for the Emerging Companies Fund and the Dividend Fund.
Paul is the Director, External Communication and Investor Capability, at the Financial Markets Authority. He was previously with the NZ Super Fund, in communications and investment roles.
Amy specialises in property and finance journalism; she has been a writer and editor for almost 20 years. Amy is a former editor of NZ Property Investor magazine and is a registered financial adviser.
A Senior Analyst at Pie Funds, Victoria researches and analyses global companies. Before joining Pie Funds, Victoria was a Senior Analyst and co-portfolio manager at Milford Asset Management.
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08. J A C K P O W E L L
MARTIN HAWES
J E R E M Y K E AT I N G
ANDREW KENNINGHAM
Martin is the chairman of the Summer KiwiSaver Investment Committee. He is an Authorised Financial Adviser and offers his services throughout New Zealand. He also presents at seminars.
Jeremy is a Director of CBRE Agribusiness, based in the Auckland office. Jeremy plays an active role in providing real estate strategy, transaction, and advisory services to Agribusiness clients throughout New Zealand.
Andrew has worked for Capital Economics since 2011. He was previously an economic adviser for the UK Foreign Office and worked for Merrill Lynch in the City of London.
Jack is a shareholder and investment adviser at Private Wealth Advisers Limited. Jack has over 20 years’ experience providing a full range of customised investmentplanning services.
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Anand is a Partner in PwC’s Private Business practice, and has spent his career advising on tax and other important issues for both privately owned businesses and large corporate entities.
Caroline is the owner of Investment Stuff, a share-market-based investment coaching service. She has 13 years’ experience as a sharebroker, fixed interest, and portfolio manager.
CAROLINE RITCHIE
CHRIS SMITH
Chris is the General Manager at CMC Markets. He has more than 15 years’ investing experience, with a passion for the financial markets, and global equity, commodity, and forex markets.
M I K E TA Y L O R
Mike is the Founder, CEO, and CIO of investment company Pie Funds. He is the joint portfolio manager for Pie Growth, Pie Global, and Pie Growth UK & Europe Funds.
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PUBLISHED BY: Jacqueline Taylor
Editorial Director & Publisher Jacqueline Taylor – jacqueline@junoinvesting.co.nz Editor Brenda Ward – brenda@junoinvesting.co.nz Subeditors Sarah Ell Jo Hammer Art Director, Senior Designer & Digital Designer Rachel Lochhead – rachel@junoinvesting.co.nz Advertising Manager Rex Pearce –rex@thevalueexchange.co.nz Digital Communications Stephanie Munro – stephanie@junoinvesting.co.nz Designer Ashleigh Whitmore Executive Chairman Mike Taylor – mike@junoinvesting.co.nz Printer Crucial Colour Distribution Finely Finished Limited Retail Distributors Gordon & Gotch Mail Lodgement Marketing Impact
JUNO Investing Magazine, Level 1, 1 Byron Avenue, Takapuna, PO Box 33-1079, Auckland 0740
www.junoinvesting.co.nz JUNO is a financial-investment magazine published quarterly by Jacqueline Taylor. You need JUNO magazine’s written permission to reproduce any part of JUNO. Advertising statements and editorial opinions in JUNO reflect the views of the advertisers and editorial contributors, not JUNO magazine and its staff. JUNO’s content comes from sources that JUNO magazine considers accurate, but we do not guarantee that the content is accurate. Charts in JUNO are visually indicative only, not exact. The content of JUNO is intended as general information only, and you use it at your own risk: JUNO magazine is not liable to anybody in any way at all. JUNO does not contain financial advice as defined by the Financial Advisers Act 2008. Consult a suitably qualified financial adviser before making investment decisions. JUNO magazine does not give any representation regarding the quality, accuracy, completeness or merchantability of the information in this publication or that it is fit for any purpose. To advertise in JUNO, you must accept JUNO magazine’s advertising terms and conditions. Please contact jacqueline@junoinvesting.com for a copy.
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FROM THE EDITORIAL DIRECTOR & PUBLISHER
FROM THE EDITOR
At the Edge of a Cliff
A Hard-Luck Story
I LIKE TO THINK I’m a bit of a risk-taker. I enjoy stepping out of my comfort zone every now and then and taking on new challenges. And I’ve certainly clocked up an extensive list of adrenaline-fuelled activities I can now tick off my bucket list. On a recent adventure trip to the US, I decided to take on the challenge of abseiling down a 50-metre cliff – something I haven’t done since I was at a high-school camp! Looking down on the raging river and the tips of giant pine trees below, I considered pulling out. Taking deep breaths, I inched myself to the edge, leaned back into position, and began the descent. This story ends well. I am still here, so clearly I completed the challenge – but it wasn’t easy. I talked to myself the entire way down and remained focused on the job at hand, releasing the rope little by little, till my feet felt the ground below. The truth is, my confidence to do this activity came from the knowledge that if anything should go wrong – if I slipped, or the rope frayed, or even if I passed out – I was securely fastened to the guide above by a safety line. I would be safe. Despite the nerves, I had peace of mind knowing that someone I could trust had my back. It’s a bit like investments really. It’s important to have your ‘safety lines’ fastened too. For example, have you done due diligence on a fund? Is your adviser reliable? How will you protect your assets? These are all things to consider before making investments. But most importantly, can you trust the people managing your money? Trust is so important for investors – and misplaced trust is one of the biggest causes of investment losses. You may be familiar with American fraudster Bernie Madoff and Kiwi David Ross, and their Ponzi schemes. Investors lost a lot of money by putting their trust in them. But how do you decide who to trust? On page 24, Martin Hawes offers insight into how to spot a scam and provides a formula for investors to use to identify trustworthiness. This Safe Investing issue also provides a checklist for choosing an adviser, explains how to avoid the top five investment mistakes, and shares strategies for recovering from a financial disaster. In a volatile environment, keeping your investments safe is key. As great trader Paul Tudor Jones says: “Don’t focus on making money, focus on protecting what you have.” As always, I hope JUNO’s Spring issue leaves you educated, informed, and empowered, supporting you in making better financial decisions. Happy investing!
“YOU’RE WRITING ABOUT INSURANCE?” a colleague asked me, disbelievingly. “That’s going to be boring!” In fact, the story Everything’s Going To Be All Right, on page 37, was one of the most fascinating topics I’ve ever researched. It had all the elements of a great novel: neardeath, disaster, tragedy, recovery, and love. Insurance is a hard sell. Considered by some to be a lottery (if you live, you lose), and others as a luxury (if you can afford it, you don’t need it), you’re asking people to protect themselves from things they don’t think are ever going to happen. But they do. When I’d finished writing the case studies for my story, people kept asking me: “Where did you find all the people who had such terrible things happen to them?” A house fire, blindness, cancer, a potentially fatal virus in the Middle East. I knew all these people personally. I could see people thinking: “What a lot of bad luck your friends have!”, as they stepped back a metre or two. When I think of all the people I know, the ones who made it into my story are just a few of the cases where insurance could have made a life-changing difference. There are many others I didn’t include. There are those who had strokes in their 20s, testicular cancer in their 40s, a house destroyed by the Christchurch earthquake, a husband who tragically died when his kids were little. I nearly died myself, of a blood clot, in my 30s. In fact, a lot of people do have a lot of bad luck. Take a minute. Add up all the people you know who’ve been diagnosed with life-threatening illness, those who’ve had their car stolen, or lost a parent early, and it’s a very big number. Wealth isn’t just about accumulating ‘stuff’ and money. It’s about hanging onto what you have, and making sure you can have a happy financial future, even if a disaster happens to you. This is where insurance has a place in your portfolio. When you next buy a Lotto ticket, remember that your risk of permanent disability is higher than your chances of winning Powerball. An insurance policy works out to about the same price. For example, at 40, I’d be paying just $10 a week for $100,000 cover. Go on to www.Kiwibank.co.nz and check the calculator to see how much it would cost you.
YO U R INV E STIN G
24 JuNO / SPRING 2017
PE R S ONAL FINANC E
BEWARE OF THE
WOLF He may be well-dressed, well-spoken and have a great investment to offer you, but can he be trusted? Martin Hawes explains how to invest safely.
WORDS BY Martin Hawes AFA, Financial Writer SPRING 2017 / JuNO 25
YO U R INV E STIN G
ALL INVESTMENT IS ABOUT TRUST. When you make an investment, you have to give your money to someone else. And when you do that, there is always a chance that you might not get it back again.
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To invest, you have to trust a range of people: your advisers, your bankers, the person selling you an investment – and you even have to trust yourself, by trusting your own judgement. It’s very difficult to assess trustworthiness. Both Kiwi David Ross of Ross Asset Management and American fraudster Bernie Madoff gave every appearance of respectability, honesty and competence. But both proved to be running Ponzi schemes and many investors lost a lot of money.
but they will lower that amount to NZ$10,000 or NZ$5,000 if you’re not showing enough interest. 3. They need an instant decision – you must do it now, which gives you no time to think or take advice. Beware of any offer that has these features – there’s a good chance it is a scam designed to take your money.
What is trust? Trust is always the name of the investment game. Adviser Charles Green and former Harvard Business School professor David Maister have researched this area extensively , writing a book called The Trusted Adviser.
People who look the part, sound the part, and even act the part may not be worthy of your trust or your money.
These authors came up with a useful formula for explaining how to assess trustworthiness and decide who we should trust.
Trust really is the most important thing for investors – and misplaced trust is one of the biggest causes of investment losses. But how do you decide who to trust?
The formula is a fairly simple one and looks like this:
Who not to trust We all get unsolicited calls or emails from people trying to sell us ‘investments’ of some sort. These might be an email from Nigeria asking for our bank account number, with a US$5 million reward for you. These scams have been around for decades and have caught many people. Alternatively, it might be someone from the Philippines selling some ‘cheap’ shares in a stock that nobody has ever heard of. This stock is ‘on the move’ (“a major announcement will be made next week”) and you had better get in now to make your fortune. There are plenty of other ways these kinds of people will relieve you of your money – scammers are endlessly inventive. The people who fall for these kinds of scams are not just the naïve and inexperienced – all sorts of people, including high-profile businesspeople, have been ‘had’ by scams of all varieties.
What to look for There are three main features of investment scams: 1. They offer a very high rate of return. 2. The minimum amount you must invest keeps on reducing. When they first approach you, they may say the minimum amount to invest is NZ$50,000,
26 JuNO / SPRING 2017
(Credibility) + (Reliability) + (Intimacy) = Trustworthiness (Self-orientation) Trust is built on three factors: credibility, reliability and intimacy. The higher someone’s score on these three things, the more we trust them. However, as well as these three factors that build up trust, there is a very important factor which sharply decreases how much we should trust someone. That is called self-orientation. Note that the three things that build up trust are added together. Then, the total amount of trust generated by these three is divided by the perceived self-orientation of the person we are considering. To explain these four factors a little: - Credibility comes from whether the person has good qualifications and is experienced in their industry. - Reliability concerns whether they turn up on time or do as they promise. - Intimacy is judged on whether the person seems to care, and how secure we feel about trusting this person. - Self-orientation refers to how much the individual is orientated to their own position. This may relate to how they charge (hourly rate or commission), or if they appear to care more about what they get out of the transaction.
PE R S ONAL FINANC E
American fraudster Bernie Madoff gave every appearance of respectability, honesty and competence . . . but many investors lost a lot of money. Note that self-orientation is by far the most important factor. Someone who has a great deal of selforientation is unlikely to be well trusted.
How the formula works Here’s an example. Imagine you’re buying a house and the ‘property consultant’ is pointing out all its features and benefits. But do you trust her? The consultant comes from a large firm and has been with them for 20 years. She clearly knows the local market and so has good credibility. She has turned up on time and is well organised. She has brought along the LIM report, just as she promised. She scores well for reliability. She remembers your names and that you have two young children, is friendly but not overly familiar, and you are comfortable with her. She has a good score on intimacy. However, you know that the property has been on the market for a while and that the sole-agency period is running out. You also know that if you buy the property, the consultant stands to get a $20,000 commission. Her business model is self-orientated and so the amount you trust her falls accordingly. When you consider an investment, take this formula into account, and if you’re at all concerned, do some more research before trusting someone with your money.
DEFINITIONS P O N ZI S C H E M E : A fraudulent investment that relies on new investors to pay returns to older investors. When the new investors can’t supply enough money to pay the older ones, the scheme collapses. DAV I D R O S S : Kiwi David Ross ran
New Zealand’s largest-ever Ponzi scheme, which left more than 700 investors owed about NZ$115 million. In 2013, Ross was sentenced in the Wellington District Court to 10 years and 10 months in jail after an investigation by the Serious Fraud Office and the Financial Markets Authority. B E R N I E M A D O F F : American Bernie Madoff ran a Ponzi scheme that’s believed to be the largest financial fraud in US history. It is estimated 4,800 clients were defrauded of US$64.8 billion. Madoff was sentenced to 150 years in jail.
> To read more about Bernie Madoff’s Ponzi Scheme, see book reviews on page 94.
Martin Hawes is the chairman of the Summer KiwiSaver Investment Committee. The Summer KiwiSaver Scheme is managed by Forsyth Barr Investment Management Ltd. You can obtain the scheme’s product disclosure statement and further information about the scheme on Forsyth Barr’s website at www.summer.co.nz. Martin is an Authorised Financial Adviser and a Disclosure Statement is available from Martin Hawes on request and free of charge.
SPRING 2017 / JuNO 27
YO U R INV E STIN G
What would you and your family do if your breadwinner couldn’t make dough? Our Life and Living Insurance calculator can help you to get an idea of how much it would cost you to get the cover you need.
To find out more, give us a call on 0800 222 491 or try out our Life & Living Insurance calculator at kiwibank.co.nz/life-calc Life & Living Insurance is provided by Kiwi Insurance Limited. Kiwi Insurance Limited is the only organisation responsible for claims under the cover. If you arrange your insurance through Kiwibank, you need to know that Kiwibank Limited doesn’t guarantee the obligations of, or any products issued by, Kiwi Insurance Limited. Kiwibank Limited may receive a commission on any insurance it arranges. “We”, “us” or “our” means Kiwi Insurance Limited. Important conditions and exclusions are set out in the Life & Living Insurance Cover Wording which is available at www.kiwibank.co.nz KWB4192
PE R S ONAL FINANC E
CONVERSATIONS ABOUT MONEY
In association with Kiwibank
Everything’s Going to Be All Right Bad things happen to nice people. And that person just might be you. Brenda Ward talks to the experts about why paying for insurance might help you sleep more soundly at night.
MOST PEOPLE think insurance is about having your car replaced when it’s stolen, getting a big payday when you fall sick, or what happens after you’ve passed away.
As a nation, we’re good at insuring possessions, but not ourselves. The study found that people will be happy to insure a $15,000 car, but often fail to insure their earnings potential, which could add up to several million dollars.
Yes, it can be all that – but insurance is also about managing your financial risk, says Massey University’s Dr Mike Naylor.
For example, your investment strategy could be wiped out overnight by illness or injury, says Naylor.
His department, the School of Economics and Finance, found that Kiwis are among the most underinsured people in the OECD countries, when it did a study for the Financial Services Council. And that’s a worry. “Insufficient insurance means there is insufficient protection against adverse financial events,” the study said.
Dr Mike Naylor Massey University Dr Mike Naylor is a senior lecturer at Massey’s School of Economics and Finance. He ran a research study on insurance in New Zealand for the Financial Services Council.
“Everyone thinks you’ll work till you’re 65, you’ll save a certain amount of money for retirement. And yes, a number of people do. “But some get to fifty, have a stroke – and they’ll never work again. Their whole investment plans are gone. You have to sit down and work through a number of scenarios.
Naomi Ballantyne Insurance pioneer Naomi Ballantyne is the founder of insurance companies Sovereign, OnePath and Partners Life. She was made an Officer of the New Zealand Order of Merit for her services to business.
Callum McPhail Kiwibank Digital Delivery Analyst Kiwibank’s Callum McPhail is also co-founder of Wicket, a start-up that aims to make insurance a priority for young people.
This article is intended as general information only. It does not take into account your financial situation and goals and is not personal advice. For advice about your particular circumstances please see your financial adviser.
Kiwibank was created to help Kiwis achieve financial independence. No matter where you are on your financial journey, we have products, services and expertise to help.
WINTER 2017 / JuNO 37
YO U R INV E STIN G
42 JuNO / SPRING 2017
PE R S ONAL FINANC E
Top Five Investing Mistakes (And Why We Make Them)
You could be undermining your best efforts to grow your portfolio. Caroline Ritchie looks at the five most common errors investors make.
WORDS BY Caroline Ritchie Owner of Investment Stuff SPRING 2017 / JuNO 43
YO U R INV E STIN G
What Your House is Really Worth Stories of people selling their homes to shysters for less than their real value send a chill down a homeowner’s spine. But how can you find out the true value of your house? Brenda Ward asked the experts.
WORDS BY Brenda Ward JUNO Editor
PE R S ONAL FINANC E
IN LIFE, YOUR WEALTH is measured by your assets and your investments. But when people come to put a price on what could be their biggest asset – their home – emotion can get in the way of facts. That’s why the experts say it’s important to do your research and compare many sources of information.
“They have facts and data to back that up. We use a statistics platform which is an aggregate of data we’ve collected. It’s the most up-to-date data – recorded when the property goes unconditional.”
Lately, many competing sources of property data have sprung up, some charging for their information, and others not. It’s now become a complex task to weigh up different assessments, to arrive at a fair figure. Here are some of the options:
“Just because the next-door neighbours sold their house for X doesn’t mean yours will sell for the same.”
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Council Valuations For many decades, New Zealanders used their ‘government valuation’ (GV) as a rough figure to estimate how much their house was worth. Done threeyearly and known now as a CV, council valuation, they were never intended to be used for selling or marketing a home, even though people did use them that way. The assessments compare recent sales in the area with the property being valued and use that figure to calculate every homeowner’s portion of local government rates. For a time, CVs were in the ballpark of the value of Kiwi homes, but the problem was, the older the CV became, the more inaccurate it was. “They’re a blunt instrument,” says Ashley Church, chief executive of the Property Institute of New Zealand. “Council valuations don’t take account of any changes and improvements. Nor do they show if owners have put a bit of love and care into the house. “Just because the next-door neighbours sold their house for X doesn’t mean yours will sell for the same.” Now, in many places, and especially in Auckland’s overheated real-estate market, they’ve become useless for predicting the sale price of your home.
Real-estate agents Most people start the selling process by asking two or three real-estate agents to look through the property, says Church. “The agents will give you an idea of what they believe your home will sell for, relative to other houses they’ve sold in that area.” Bindi Norwell, chief executive of the Real Estate Institute of New Zealand, says local real-estate agents have the best understanding of values, know the area, and can compare your home to actual sales of comparable houses.
– Ashley Church Estate agents get a thorough training before being licensed and then do ongoing training to keep their licences, she says. A good agent has a deep knowledge of your area, knows how to market your property and what it needs to make it attractive to buyers, knows which regulations you need to comply with, and takes health and safety into consideration. She suggests sellers first go online to look at what’s available in the area, in their style and size of house. “Then speak to three agents and get them around to look at your home. Be very clear with what your needs are,” she says.
SPRING 2017 / JuNO 57