Massey Uni releases these numbers each year. 

They tell you how much you might need to retirement. 

In the city... two people in a house... want to live comfortably... need $1 million. 

$450,000 in the provinces.

Now, you then start working backwards. In terms of you're net worth. 

Depending on your age, you may not be able to rely on the pension. 

Some government will eventually means test it or change the age or cut it back. It's inevitable. 

So there's a shortfall you're probably going to have to fill. 

KiwiSaver contributions need to go up. And they are. Slightly, from 3 to eventually 4%. 

But realistically, we'll need to be doing 10%.

And I know people are doing that - who are, even in their 30s, going hard on saving and investing for this express purpose. 

So people are planning and working hard. Slogging their guts out. Just being responsible and making sure they can take care of themselves and their families. 

Which is why it smacks of entitlement that politicians live in i a different world on super. Totally different world. 

They get a super subsidy 2.5 times the percent they contribute from their salary, up to a maximum payment of 20 percent.

RNZ reported earlier this year that a backbencher gets $170,000. 20 percent of that would be about $34,000

We get dollar-for-dollar from our employers up to 3 percent. 

The argument is their jobs aren't secure, so they need more security. 

They aren't the only ones in that situation. But they are the only ones I know of who get retirement nest egg like that. 

The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts. 

Massey Uni releases these numbers each year.&nbsp;
They tell you how much you might need to retirement.&nbsp;
In the city... two people in a house... want to live comfortably... need $1 million.&nbsp;
$450,000 in the provinces.
Now, you then start working backwards. In terms of you're net worth.&nbsp;
Depending on your age, you may not be able to rely on the pension.&nbsp;
Some government will eventually means test it or change the age or cut it back. It's inevitable.&nbsp;
So there's a shortfall you're probably going to have to fill.&nbsp;
KiwiSaver contributions need to go up. And they are. Slightly, from 3 to eventually 4%.&nbsp;
But realistically, we'll need to be doing 10%.
And I know people are doing that - who are, even in their 30s, going hard on saving and investing for this express purpose.&nbsp;
So people are planning and working hard. Slogging their guts out. Just being responsible and making sure they can take care of themselves and their families.&nbsp;
Which is why it smacks of entitlement that politicians live in i a different world on super. Totally different world.&nbsp;
They get a super subsidy 2.5 times the percent they contribute from their salary, up to a maximum payment of 20 percent.
RNZ reported earlier this year that a backbencher gets $170,000. 20 percent of that would be about $34,000
We get dollar-for-dollar from our employers up to 3 percent.&nbsp;
The argument is their jobs aren't secure, so they need more security.&nbsp;
They aren't the only ones in that situation. But they are the only ones I know of who get retirement nest egg like that.&nbsp;
The podcasts in the SME Stream contain&nbsp;general information only, not financial&nbsp;or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.&nbsp;

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Looking for actionable business insights all in one place? 
We're here to help you find a way with a curation of the &lsquo;best bits&rsquo; from top business podcasts. 
Save time searching; subscribe to the SME Stream where you can listen to relevant, timely, business-related content today.&nbsp;
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