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Podcast: NZ Business Owners
Episode: The Value of your Kiwisaver is Plummeting, What Should You Do? / Greg Moyle
Description: The short answer is nothing. When the hysteria bus takes over you’ll start developing this compelling urge to do something. Change your growth fund to a conservative or jump ship to another company not as badly impacted. Though it may have given you a sudden feeling of relief your finances won’t be thanking you. In my line of work we call this crystallising your loss. Lets say you made an amazing 20% return from 2019 to 2020 then the market drops by 20% so you freak out and sell your assets to change the fund. What is your return now? Despite what...