How to Gain 50% on Your Investment
Did you know that investor’s in New Zealand’s retirement savings scheme Kiwisaver earn 50% on their investment for the first $1040 they deposit into their Kiwisaver account every year?
Now you may be thinking, “Its too good to be true so it must be a scam.”
Read on.
The government will deposit a maximum of $520 into your Kiwisaver account per annum. To receive this full amount you must deposit $1040. In other words whatever you deposit into your Kiwisaver account the government will invest 50% of it into your account. This is in real terms 50% of on your investment.
The news gets even better. It is all tax free.
If you only worked part of the year or are on a low wage and are unable to contribute the full $1040 on your wages then you are able to make voluntary contributions into your Kiwisaver account.
It is worth noting that the Kiwisaver year begins on July 1st and ends on June 30th. The government money will go into your Kiwisaver account in late July. So the strategy is to always make sure that you have deposited $1040 into your Kiwisaver account by June 30th to get the full amount of government money in July. If you do banking over the internet then it will be just a case of making a transfer to your KIwisaver account in much the same way as you would when transferring money between accounts.
This is all applicable to New Zealand’s retirement scheme only. Your own country will have its own scheme with it’ own incentives.