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Christmas Present Tips for Guys

Christmas Shopping Tips for Guys

giftgreen1Most of us guys are useless at Christmas shopping. Here's a few tips I've picked up over the years.

Ladies, you might want to share this with the men in your family to avoid getting an undesirable and badly wrapped present this Christmas.

  1. Buying your Christmas presents at a petrol station or dairy on Christmas morning really isn't the done thing - apparently not everyone wants a funnel, box of biscuits or a car care kit. Don't do it.
  2. Get started early, no not on Christmas Eve, yesterday was already too late.
  3. First thing in the morning is the best time to Christmas shop, and I mean first thing, teenagers are still in bed.
  4. It's not the thought that counts, it's how MUCH thought that counts.
  5. Cash is a GREAT present for teenagers - and me.
  6. If you must give gift vouchers make sure they are from a shop the recipient actually shops in and try and avoid those with an expiry date.
  7. Wrapping and cards are important, you and I know it's just paper but for some reason they are important.
  8. Before you start browsing in a shop check that it does gift wrapping and accept the service - wait if necessary. If the shop doesn't do gift wrapping move on to the next. Unless you are an expert present wrapper - Yeah Right!
  9. Even if every present you buy is gift wrapped, buy plenty of wrapping paper and sellotape. You are going to need it because dairy's and petrol stations don't gift wrap and being a bloke you'll probably ignore number 1.

Guys ignore the above at your peril and have a wonderful Christmas.

Posted in KiwiSaver.

Protect your Retirement Funds from Creditors with KiwiSaver

The Court of Appeal has recently found that a bankrupt's KiwiSaver account cannot be accessed by the Official Assignee.

This means that if you are saving for your retirement you can protect those funds from creditors by using a KiwSaver scheme.

This is a significant finding, If it stands it will change the flow of investment funds in New Zealand, KiwiSaver can now be considered a legitimate asset protection vehicle.

It is also three girls jumpunlikely that money in KiwiSaver schemes will be considered as security by lenders.

No matter how small you believe the chances of you facing bankruptcy you owe it to yourself and your loved ones to consider protecting some of your retirement savings from potential creditors.

There is a chance that a set of unfortunate circumstances outside your control could see you bankrupted. Isn't it wise to consider protecting some of your retirement savings in a legal vehicle sanctioned by the court?

Of course most of us feel a responsibilty to pay all our bills but we also have a responsibilty to protect our loved ones.

Creditors will be still able to access your term deposits, sell your bach, rental property, shares and bonds but they wont be able to get at your KiwiSaver funds.

In the past trusts have been the vehicle most often used to protect assets. Trusts come with all sorts of issues and expenses, may not be tax efficient and can be "busted" and provide no protection if not managed correctly.

Give Bay Financial Partners a call on 07 578 3863 to discuss the options. We can help you access a wide range of KiwiSaver schemes from many different providers.

The ruling by the Court of Appeal on 17 April 2015 overturned a previous March 2014 High Court ruling that was sucessfully appealed by Trustees Executors, who had refused to release the funds of two bankrupts to the Official Assignee.

The Court of Appeal judgement found that “The objective of the KSA [KiwiSaver Act] is to encourage a long-term savings habit and the accumulation of funds that will increase the wellbeing and financial independence of individuals, particularly in retirement. There is nothing in the KSA to suggest that a purpose of the legislation is to accumulate funds for the benefit of creditors in the event of the member’s bankruptcy. If that were the case, the important social and economic purposes of the KSA would be undermined and the burden of providing for the welfare of individuals would fall back on the state.”

You may wish to follow this link to read more in a NZ Herald article - Court of Appeal: Bankrupts' KiwiSaver off limits for creditors, Official Assignee, 2:15 PM Tuesday Apr 21, 2015

KiwiSaver Logobayfinancialpartners.co.nz is operated by Bay Financial Partners Limited  and is not endorsed by, or affiliated with, the government or Inland Revenue. Bay Financial Partners Limited is using the KiwiSaver trade mark and logo under licence from Inland Revenue. To view the official New Zealand government KiwiSaver website, please click here.

KiwiSaver, Retirement

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