Growing an inheritance – Hailey*
Growing future wealth and learning investing in the process.
When Hailey turned 21, she took over an investment portfolio she had inherited from her grandparents, who had passed away when she was very young. “They had set it up when I was born – the idea was that it would support me later in life,” she says.
She recalls first meeting with Craigs Investment Adviser Sara O’Connor nine years ago to discuss her intentions. “We went through what my goals were, so she could then work out how to structure the portfolio,” Hailey says.
“I told her that I would like it in high-growth investments, with the end goal of potentially using the money for a house or starting a business.”
O’Connor notes that younger investors often have the ability to take on more risk, “but it’s matching that to your risk tolerance as well so that you can sleep at night.” She says that education is one of the biggest ways to reduce risk.
Hailey confesses she didn’t know much about investing when she inherited the portfolio. “My lack of knowledge was a big concern of mine,” she says. “I understood the concept of shares, but I didn’t understand how to grow your wealth with shares, or the ups and downs of the share market and how to ride through it, or how you should diversify your portfolio. I really didn’t have an idea of it at all, which was why Sara was so invaluable.”
Now in her 30s, Hailey recently moved back to New Zealand, having lived and worked in the fashion industry overseas since she finished university. She’s made the decision to stay here and hopes to buy a house.
She recommends anyone who is thinking about investing to talk to Craigs.
“They can help set you on the right path and teach you about the process,” she says.
“They provide that guidance and someone who knows the market, because it can be quite daunting for people who don’t understand investing.”
Goals achieved – Sophie*
Sold a business – wanted her funds to support an active retirement.
There’s a balance to be struck towards the middle of one’s working life, says Sophie, who lives on the Kāpiti Coast. “Women need to really understand their income, their expenses, and how they can wisely save or invest whatever’s left. In your 50s and 60s, you’re rapidly heading towards retirement – and living on superannuation alone can be a very daunting prospect.”
Sophie, who enjoyed a stellar career in the software industry until she sold her business in 2014, now spends her time travelling, playing sport, and giving back to charities and fledgling businesses.
She worries that New Zealanders are too reliant on property as a retirement nest egg – admitting that managing properties never suited her. “I absolutely hated being a landlord,” she laughs. “Also, property ownership isn’t possible for everyone. There are other options – people need to be realistic.”
Sophie finds a portfolio of investments, and a strong relationship with Craigs Investment Partners Adviser Melika King, works well for her. “I had a chunk of money that I needed to last until I kick the bucket!” she says matterof- factly. “Craigs popped up on my radar, and I rang to make an appointment.”
Sophie describes the signup process as “really easy” – although she confesses to putting Melika through the wringer. “I basically interviewed her. I wanted to be sure the fit was right – that I had someone who understood my objectives and appetite for risk.”
Now, she says she enjoys her catch-ups with Melika and is happy with the returns on that “chunk” she put away five years ago.
“Craigs knows what the investment needs to do for me and keeps me in the loop around any recommended changes to my portfolio. And when I’ve spotted a company I feel strongly I’d like to invest in, they’ve facilitated that. So far, their advice has been spot-on.”
Comfortably retired – Michal
Retired – needed her investment to generate income.
Peace of mind is important to Michal, who has swapped her glittering career in the magazine and beauty industries for a cosy life in beautiful Hawke’s Bay.
Officially retired – though she keeps busy with friends, writing and the arts – Michal knows she needs her investments to provide an income to last the rest of her life. And Craigs is helping her achieve that goal.
“Finding the right partnership is absolutely invaluable,” she says of her Craigs adviser Rasmika Maharaj. “Rasmika is smart, and I trust her completely. She’s unbelievably reassuring too, so when I panic that I’m going to live until I’m 96 she calms me and takes me through my financial plan!”
Michal started investing as soon as she began working, and those initial gains “became my ticket to go overseas.” She worked at Vogue, Good Housekeeping and Estée Lauder before returning to New Zealand about 15 years ago.
The biggest challenge at this life stage, Michal says with candour, is health. “When you’re so used to being active and non-stop, it’s difficult to accept that your body is no longer keeping up with you!”
But being mortgage free, thanks to sound decision making over a long and successful career, means she has one less thing to worry about. “It is wonderful. I look around my home and think ‘Yes – this is mine’.” That asset, together with the income being generated from her investment portfolio, means Michal can comfortably enjoy the rest of her life without financial worries as long as she is sensible. “When I started I had very little,” she recalls, “but I wasn’t frightened and I wasn’t deterred. Now, Craigs are fully conversant with my situation. I believe they operate my portfolio with this top of mind.”
To discuss your investment goals and needs, contact a Craigs Investment Adviser for a free, no-obligation consultation. They will help you understand the most suitable options based on your circumstances. Phone 0800 272 442 or visit craigsip.com.
Craigs offers a free Women’s Wealth programme, designed to provide knowledge and confidence around investing through investing workshops, events and one-on-one consultations. To learn more, visit craigsip.com/womens-wealth
Disclaimer: *Client names and some images have been changed at our clients’ request . This article is general in nature and is not financial advice. It does not take into account your financial situation, objectives, goals, or risk tolerance. All investments involve risk and can go down as well as up. The Craigs Investment Partners Limited Financial Advice Provider Disclosure Statement can be viewed at craigsip.com/tcs