Kiwisaver Balance Taken a Hit?
Kiwisaver Investments are currently experiencing a sudden drop. This is as a result of global stock being extremely volatile at the moment due to Covid-19 and the uncertainty is presents to the global economy.
This may affect your desired or current mortgage pre approval and therefore your ability to purchase a home as you may now have a reduced amount of deposit avalible for your purchase. We strongly suggest that you check your funds regularly and in particular if you are actively house hunting contact your provider about the options available to reduce the risk of major decreases, such as switching funds or alternatively talk to an investment adviser.
Frank Jasper from Fisher funds has said "What we do know though, and we can look back through 100 years of history, is that markets do eventually recover and sharemarkets are a great place to build long term wealth. But what's going to happen tomorrow, the next day or next week, or the month after I think it'd be very brave to guess."
If you are concerned about your purchase and how your Kiwisaver balances will affect this please don't hesitate to contact us.
We are also happy to chat or talk anytime in regards, give us a FREE non-obligation call today 0800 864 864, book an appointment online here or email through the following link.