Assets trump salary for Kiwi investors
The Stake Ambition Report, which surveyed more than 1,000 non-retired New Zealanders, says getting a ‘good job’ and buying property to achieve financial security, are not seen as accessible or reliable as they once were.
Respondents to the survey put goods inflation, housing costs and slow wage growth as the top barriers to reaching their financial goals.
Nearly two-thirds (64%) felt they needed to earn more than $100,000 to live comfortably, and the majority (78%) of those in the median salary band ($48,000K - 70K), said they would need a salary of $80,000 or above. In the next year, 44% expected a salary increase of 1-5% and an alarming 22% expected no increase.
However, despite two thirds (68%) saying they faced financial strain due to wages not keeping up with inflation, 76% continued to invest throughout the past six months and more than two-thirds (67%) retained all their shares over the past year. Only 36% reduced allocations to savings or investments.
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