this post was submitted on 19 Nov 2023
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Ooh, this is a good question. Keen to see other replies.
For me at this stage, it's just Kiwisaver and my savings account. I'm thinking of buying some shares as well, but not too sure I want to bank on it as a source of retirement funds. In saying that, I've been looking at Sharesies and it's easy enough to chuck some spare cash at it that I don't care too much about. Like, I've been having thoughts such as "instead of caving in and buying this pizza, I could buy some shares instead". Just a bit concerned that if I start doing that, I might turn it into a habit. Maybe I need some proper financial advice on how much money I should set apart from my income for this, and draw a firm line somewhere.
I use sharesies, after other platforms in the past. It is great, super easy and gives access in a very simple way to Australia and US markets. You start with a strategy, but if you change investment strategy the barrier to change is low.
Be prepared to watch the markets go up and down; because they do...a lot...think in terms of years not days/weeks and generally things work well.
Even putting pizza money a week into saving/investments adds up.