I knew before my son was born that I wanted to get him into the market as early as possible. The earlier you start, the longer the money compounds. That’s the whole idea. Time in the market beats timing the market.

Parents want to do the right thing for their child but opening a KiwiSaver might not be the smart move you think it is.

Let me start by saying that KiwiSaver is an amazing tool for building wealth. Since it comes directly out of your pay if you’re employed, it’s almost invisible. The money never actually hits your bank account. Add the fact that your employer also matches up to a certain percentage and it’s a no-brainer.

When I first joined KiwiSaver through my employer I didn’t put too much thought into it. I contributed up to the employer match which was 3% back then and called it a day. Like many, I was enrolled in a default fund without checking if it was aligned with my goals.