The KiwiSaver trap: why a common tactic can accidentally torpedo your nest egg

Listen to this episode from Making Cents on Spotify. Are you accidentally sabotaging your KiwiSaver?KiwiSaver is one of the most powerful tools New Zealanders have for growing wealth, but if you’re on autopilot, you could be losing tens of thousands of dollars without realising it.In this episode of Ask the Experts, we reveal the common KiwiSaver mistakes that are quietly shrinking your nest egg, and the easy fixes that could supercharge your long-term savings.Whether you're using KiwiSaver for retirement, your first home deposit, or both, it’s time to stop treating it like a passive savings account.Frances Cook is joined by Kristin Sutherland from EnableMe to break down:The risks of “set and forget” with KiwiSaverHow to rebuild your account after using it for a first home depositWhy your KiwiSaver fund type (growth vs conservative) matters more than you thinkHow often you should review your KiwiSaver settingsThe first step to take if you've ignored your KiwiSaver until nowIt only takes a few small tweaks to get your KiwiSaver working harder, and fixing it might take less time than listening to this episode.Listen now to protect your future wealth, and make sure every dollar is doing the most for you.LinksFollow Frances Cook on Facebook, Instagram and TikTok, or join the Money Memo newsletter for a free weekly money tip in your inbox each week. Hosted on Acast. See acast.com/privacy for more information.