\u201cParents very often are going to want to do whatever they can in order to help their kids, for example get on the housing ladder.<\/p>\n
\u201cI think for a lot of parents they can actually do both … but it has to be included in the [financial] plan.\u201d<\/p>\n
Hartmann said a lot of retirement planning all comes to the gap above New Zealand Superannuation.<\/p>\n
\u201cNZ Super is a foundation … but usually, for many people, they have a gap above that,\u201d he said.<\/p>\n
\u201cBefore someone is trying to help the next generation, they also need to take into account how they\u2019re going to fill that gap.\u201d<\/p>\n
Hartmann said for parents lending money to children for a first home, there needed to be clarity on whether it was a loan or a gift.<\/p>\n
\u201cThat clarity goes right all the way to, if it is a loan, to actually draw up a loan agreement, get legal advice so everybody\u2019s clear on what will happen in terms of repayments,\u201d he said.<\/p>\n
The report found that while 88% of people still see owning a home as a core life goal, 42% feel it isn\u2019t attainable today.<\/p>\n
Meanwhile, more than three-quarters (78%) of Kiwis said they expect to wait at least three years before they can afford to buy a home.<\/p>\n
Instead, more New Zealanders believe the \u201cKiwi Dream\u201d is to be financially independent (54%) rather than owning a home (44%).<\/p>\n
\u201cAlthough housing affordability has in fact improved over recent years, concern over higher interest rates, new-build quality and job security is impacting the pursuit of home ownership,\u201d Sandy Foster, chair of the New Zealand Housing Foundation, said.<\/p>\n
\u201cIn the current market, investing in the family home as a pathway to long-term financial stability no longer seems as assured of success as in earlier years.\u201d<\/p>\n
Foster said the rise of online share trading platforms was providing easily accessible opportunities for alternative ways for Kiwis to invest and build a sound financial future.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cParents very often are going to want to do whatever they can in order to help their kids,…\n","protected":false},"author":2,"featured_media":423865,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1443,3225,15408,95,1643,3237,49325,19338,1644,36023,71,2964,5838,3339,194,2721,111,43,139,69,1118,90,3766,21411,29240,1560,11418,37458,80],"class_list":["post-423864","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-zealand","tag-about","tag-according","tag-almost","tag-and","tag-bank","tag-buyers","tag-dad","tag-expect","tag-financial","tag-firsthome","tag-from","tag-half","tag-help","tag-housing","tag-kiwi","tag-mum","tag-new-zealand","tag-news","tag-newzealand","tag-nz","tag-of","tag-on","tag-parents","tag-pressure","tag-relying","tag-report","tag-trends","tag-worried","tag-zealand"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/423864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=423864"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/423864\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/423865"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=423864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=423864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=423864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}