Age 50 a key time to take stock of KiwiSaver 18 Jan 2016

Investors are being urged to consider retaining some growth assets in their KiwiSaver investments as they get nearer retirement, to ensure they give their money the best chance of lasting as long as they do.

Many investors slowly move from high-risk, high-return growth assets to the more stable but less high-performing conservative assets as they get closer to 65.

But David Boyle, group manager of investor education at the Commission for Financial Capability, said they did not always consider that they could live for at least 20 years in retirement, and would need savings to last that long.

"If you don't need it straight away, you might be able to afford to have it working a bit harder, for a bit longer."

ANZ's general manager of wealth products Ana-Marie Lockyer, agreed: "Just because you turn 65, it doesn't mean you are going to need to spend your savings immediately. You're building a balance to last the rest of your retirement."

She said a lot of earnings could still come from the portfolio after the saver reached retirement age, especially while the balance was as large as it was going to get. 

If the KiwiSaver member knew it was likely to be a long-term investment and could stomach potential volatility, they could give themselves more cash for their retirement by leaving it in a higher-returning fund for a little longer.

Lockyer said splitting the investment between different funds was another option, to retain some exposure to riskier assets.

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