Young Millennials and Gen-Zers are the first generation to have had KiwiSaver accounts for their entire working lives. Many aren’t worried about becoming homeowners, so why is it important they stick with the investment scheme?

My first job was waitressing part-time at a Mexican restaurant with my best friend Mollie. She’s a lot smarter than me, and despite being 16 she became my financial advisor, telling me to put 9% of my small income into my KiwiSaver as soon as I started the job. 

I was living at home, there was no rent to pay, no food costs, and electricity, water and internet were all still being taken care of by my parents. But for some reason, I thought the $150 I earned each week should be going straight to my pocket, to be spent on chicken nuggets and raspberry Cruisers. 

I didn’t want to give my money up to some mysterious account I couldn’t access, so I ticked 3% on the IRD form and forgot about it for four years. 

Now at 21, I’ve watched my Kiwisaver balance more than quintuple under a high risk, high reward scheme, and it took me – a complete financial rookie – less than 10 minutes to sort out.

I now contribute 10% of my income to KiwiSaver. It’s money I don’t notice disappearing from my pay, and it’s become so rewarding to check in on my savings each month and see the fund growing. Read the remainder of the article here