It's No Secret

Today we're diving into the latest tax changes announced in the 2024 Budget.

We'll break down what these changes mean for you, focusing on the new tax thresholds, adjustments to the Independent Earner Tax Credit, and the introduction of the Family Boost initiative.

Disclaimer: While we aim to provide clarity on these updates, everyone's financial situation is unique. Our goal is to inform, not to advise on personal decisions.

In this episode, we discuss:

• The impact of the "Back Pocket Boost" and how middle-income earners will benefit.
• The specifics of the threshold changes and their intended correction of "bracket creep."
• Insights from experts on the real-world implications of these adjustments.
• The expanded eligibility for the Independent Earner Tax Credit and what it means for middle-earners.
• The new Family Boost program and how it aims to support parents with childcare costs.
• Additional technical details included in the budget legislation and what they signify for taxpayers.

and plenty more!

Sources:

• Deloitte Article: https://www.deloitte.com/nz/en/services/tax/perspectives/budget-2024-everything-you-need-to-know-about-the-tax-changes.html
• RNZ Article: https://www.rnz.co.nz/news/political/518293/budget-2024-how-much-tax-relief-are-we-really-getting

If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend.

SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify

Follow us for fun chat & financial tidbits on IG: @itsnosecretnz
Got questions? Get in touch: www.itsnosecret.co.nz

Disclaimer:
Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.

Any information we provide is general only and current at the time of writing.

Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz

In today's Q&A episode, we'll be answering DM's from the gram as well as a few customer queries from Kernel.

This time, we'll be answering questions such as:

• What are some common pitfalls when investing a lump sum, in this case, we use the 7 million dollar Powerball winners
• If you should tell your friends and family if you win the lotto
• Can you invest with Kernel while being overseas
• Are you better off paying more for a property in a grammar zone or send you kids to private school?

Do you have a burning money question you want answered? Let us know in the DM's we'd love to hear from you

If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend.

SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify

Follow us for fun chat & financial tidbits on IG: @itsnosecretnz
Got questions? Get in touch: www.itsnosecret.co.nz

Disclaimer:
Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.

Any information we provide is general only and current at the time of writing.

Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz

Today we’ll be chatting about whether private schools are “worth” the investment.

We'll look at both the cost of sending your children to private school vs public, and weigh up some potential pros and cons of doing so.

Disclaimer: the school you send your child to is very personal to your family, the child and your financial situation. This is not for us to tell you what to do, nor is this to enforce our views, but more to shed light on factors that might sway you from a financial standpoint.

Specifically, we chat about:

• What is the most expensive private school in NZ
• How free is it *really* to go to a public school
• The average costs of each option and how much you may end up spending through years 9-13
• Outside factors to consider such as connections, class sizes and quality of learning 

And much more!

Resources:

• ASG Education Costs
• Reddit thread
• Stuff Article

If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend.

SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify

Follow us for fun chat & financial tidbits on IG: @itsnosecretnz
Got questions? Get in touch: www.itsnosecret.co.nz

Disclaimer:
Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.

Any information we provide is general only and current at the time of writing.

Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz

Today we’re back to chat about all things relationship property.

Relationship property can be a bit of a sticky subject, particularly if you are approaching being in a de facto relationship, looking at getting married or otherwise. 

To chat with us today is a special guest joining us to share his knowledge on the topic, as we're by no means an expert in this area. Today we're joined by Will Eddowes, General Manager at Agreeable, a Kiwi legal startup that helps couples get relationship property sorted online.

Specifically, we chatted about:

• What is relationship property and what that entails
• When is a ‘good’ time to get a prenup/relationship agreement?
• What is agreeable? And what services do they provide?

And plenty more!

If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend.

SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify

Follow us for fun chat & financial tidbits on IG: @itsnosecretnz
Got questions? Get in touch: www.itsnosecret.co.nz

Disclaimer:
Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.

Any information we provide is general only and current at the time of writing.

Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz

Today we’re back with another Money Moments episode, where we chat to real Kiwis about their experience with money.

This time, the real Kiwis are us! In this episode, we’re in the hot seat to give you an update on what’s going on with our lives financially. Our last check-in was back in December about 6 months ago, so let’s get stuck in on what we've been up to.

Specifically, we chat about:

• What Cat's balance sheet is looking like and how it's changed since 2019
• How Luke's student loan is going, in the early days of the podcast this was sitting well over $100,000!
• Why Christine feels like she's financially left behind compared to her peers
• Why Christine is torn on going on a holiday vs saving the money instead
• How Christine and her partner, Ollie, are in a loop between buying a house or not

Plus plenty more goodness!

If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend.

SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify

Follow us for fun chat & financial tidbits on IG: @itsnosecretnz
Got questions? Get in touch: www.itsnosecret.co.nz

Disclaimer:
Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.

Any information we provide is general only and current at the time of writing.

Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz

Many of us have goals we're saving towards, whether for the short, medium, or long term.

If your goal is in the medium term (3-5 years) or long term (5+ years), you might wonder if you need to adjust your investments or savings strategy as you get closer to achieving it.

Or, you might be nearing your goal and not realize it could be beneficial to change your asset class—and that's okay too. So, what should you do as you approach these goals? Let’s discuss.

Specifically, we chat about:

• Is there a ‘right’ time to take action i.e. too soon or too late? 
• When you SHOULDN’T take action? E.g, Being shaken by market volatility even if your goals are still far away
• How does the level of risk you take affect your investments? (Growth vs income assets)
• A specific example where you may want to change your asset allocation

If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend.

SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify

Follow us for fun chat & financial tidbits on IG: @itsnosecretnz
Got questions? Get in touch: www.itsnosecret.co.nz

Disclaimer:
Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.

Any information we provide is general only and current at the time of writing.

Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz

Today we're back with another Money Moments episode, where we chat to real Kiwis about money. In this episode, we are joined by Colin Magee, CEO of Catalist, the stock exchange connecting everyday investors and Kiwi businesses with big potential. 

Colin has over 2 decades of experience in financial services working as a finance lawyer in London and a general counsel for an investment bank. 

Most recently, his role was Head of Conduct at the Financial Markets Authority (FMA), where he led the teams responsible for regulating the stock markets and realised that there was a gap that needed to be filled in the New Zealand market.

In this episode, Colin shares about:

• The main differences of living and working in London vs New Zealand
• What types of assets he is investing in and why?
• What led him to start his own business, Catalist
• Why it's important to support small & medium businesses in New Zealand
• How small and medium-sized enterprises can fit into your portfolio

Keen to learn more about Catalist? Check out their website here.

If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend.

SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify

Follow us for fun chat & financial tidbits on IG: @itsnosecretnz
Got questions? Get in touch: www.itsnosecret.co.nz

Disclaimer:
Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.

Any information we provide is general only and current at the time of writing.

Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz

In today's podcast episode, we’ll be answering the question of - how does the KiwiSaver joining/transfer process work behind the scenes?

While expectations around banking/financial services these days are instant, unfortunately, the case with KiwiSaver transfers and many other investments isn't.

Whether you're moving to NZ and starting KiwiSaver for the first time, or over 18 and taking control of your account - it pays to understand how and why these processes behind the scenes can take some time

Specifically, we chatted about:

• How do you switch KiwiSaver providers? What happens behind the scenes?
• Which parties are involved in the transfer? 
• How long does it take to switch KiwiSaver providers?
• How does this process differ whether you are transferring your balance VS joining KiwiSaver for the first time?

And much more!

If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend.

SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify

Follow us for fun chat & financial tidbits on IG: @itsnosecretnz
Got questions? Get in touch: www.itsnosecret.co.nz

Disclaimer:
Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.

Any information we provide is general only and current at the time of writing.

Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz

In today's podcast episode, we’ll be chatting to you all about scams. 

Scams are a hot topic at the moment, just google ‘scams nz’ and look at the news and there are SO many recent articles sharing how someone has been scammed out of a significant amount of money.  So let’s chat about how you can avoid them.

In this episode we specifically chatted about:

• Signs that you are being set up for a scam
• What you can do to avoid scams and some common examples
• How to find out if an investment is legit and how protected you are

Check out the resources mentioned during the episode:

• Sorted.org.nz - Fraud and Scams
• MBIE - Money lost to scams
• Netsafe.org.nz - Common types of scams
• FMA - Latest scam warnings 

If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend.

SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify

Follow us for fun chat & financial tidbits on IG: @itsnosecretnz
Got questions? Get in touch: www.itsnosecret.co.nz

Disclaimer:
Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.

Any information we provide is general only and current at the time of writing.

Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz

In today's podcast episode, we’ll be chatting to you about whether or not you’re spending enough money to maintain your health.

Whether your health spending comes in the form of long weekends away, going to a therapist or even a boujee gym membership, investing in yourself can come in many forms. 

But how do you know if you’re spending enough money on your health, or better yet too much? Let’s jump into it.

Specifically, we chatted about:

• What we personally spend on our health such as gyms, insurance and the odd treat
• How we justify the costs of health for our spending
• Why some people are reluctant to spend money on their health

and plenty more!

If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend.

SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify

Follow us for fun chat & financial tidbits on IG: @itsnosecretnz
Got questions? Get in touch: www.itsnosecret.co.nz

Disclaimer:
Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.

Any information we provide is general only and current at the time of writing.

Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz