7 Secrets to Succesful Retirement

Andrei from

Preparing for retirement feels like a battle, but the outcome can change vastly, based on a series of bite-sized decisions.
All too often we find people looking for that magic bullet. As anyone in the military will tell you, one bullet won't win a war and a pint of sweat saves a gallon of blood.
When meeting people who have made a success of retirement planning, there are a bunch of traits we come across time and again.
The most important? These individuals have never relied on one part of their life providing the money. Even those with successful businesses or high-earning jobs have multiple tactics at play.
A good outcome is not left to chance and never depends on a single payoff.
1. They don't over-capitalize on their own property. It's not an investment and they know it.
2. They have paid off their own mortgage in a fast and furious fashion
3. They have high savings rates. At some point turbo savings will have taken place. A couple will live off one salary and save the other
4. High-earners will have automated savings to prevent these being spent on lifestyle assets that are non-productive.They maximize their KiwiSaver contributions no matter how high their earnings are.
5. They bank rather than blow inheritances.
6. They have made their kids financially self-sufficient.
7. They consult experts. This means taking financial advice, using insurance brokers, tax experts and getting all contracts checked by specialist lawyers.
As the great Russian writer, Leo Tolstoy said "the two most powerful warriors are patience and time". These sentiments apply equally to the retirement planning battle we all face.