Sam Stubbs: Simplicity Founder on the number of Kiwis struggling with finances and retirement savings

Early Edition with Ryan Bridge

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It’s a difficult retirement outlook for many Kiwis.

The latest Financial Services Council Money & You research reveals 94% of Kiwis worry about money, and one in five don’t have enough in their retirement savings to get them through the next year.

Many are dipping into savings to cover basics, with some having to juggle priorities.

Simplicity Founder Sam Stubbs told Ryan Bridge that a couple of things need to happen with KiwiSaver.

He said that we’re getting to the point where it needs to become compulsory, as it’s all very well that 79% of people are saving, but that still leaves 21% who’s retirement will be funded by the taxpayer.

The other thing, Stubbs said, is that the contribution needs to go up.

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