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2 episodes with Sam Stubbs
2 episodes with Sam Stubbs
Today on the show... Tough times and it’s hard to make a buck. But not for Westpac here in NZ. It’s profits are up 10%. The margin the bank charges its Kiwi clients is up as well. But not in Australia - we are the soft targets. The executives will no doubt get bonuses, and the other big banks have done well too. Co-founder of Simplicity, Sam Stubbs joins me and we will pick them to pieces. Plus some Letters to the Editor! Website: https://www.rova.nz/home/podcasts/duncan-garner---editor-in-chiefInstagram: @DuncanGarnerpodcast TikTok: @DuncanGarnerpodcast
The default Kiwisaver contribution rate could be due for a shakeup. Finance Minister Nicola Willis is looking at upping the amount employees and employers contribute to their KiwiSaver accounts. With an ever-increasing aging population, Willis explained she wants to ensure more Kiwis are financially secure in retirement. Simplicity co-founder Sam Stubbs has voiced support with these proposed changes. "It's a recognition of the fact that we just have to save more for our retirement - because unless we do, national superannuation and the cost of health will eat up our current tax base." LISTEN ABOVESee omnystudio.com/listener for privacy information.
The default Kiwisaver contribution rate could be due for a shakeup. Finance Minister Nicola Willis is looking at upping the amount employees and employers contribute to their KiwiSaver accounts. With an ever-increasing aging population, Willis explained she wants to ensure more Kiwis are financially secure in retirement. Simplicity co-founder Sam Stubbs has voiced support with these proposed changes. "It's a recognition of the fact that we just have to save more for our retirement - because unless we do, national superannuation and the cost of health will eat up our current tax base." LISTEN ABOVESee omnystudio.com/listener for privacy information.
Today on the show... A Slam Dunc on how Christopher Luxon fumbled a simple question into a three-minute mess. His corporate jargon dodges accountability, making him look weak. With National slipping and Labour floundering, he should be ahead - but indecision is dragging him down. Can he turn it around? And I spoke with Sam Stubbs of Simplicity KiwiSaver about keeping investment local. While most funds look offshore, he’s building homes for Kiwis. Can New Zealand fund its own future? Sam thinks so—and has the numbers to prove it. Website: https://www.rova.nz/home/podcasts/duncan-garner---editor-in-chief.html Instagram: @DuncanGarnerpodcast TikTok: @DuncanGarnerpodcast
A lot could be riding on the Government's upcoming global investment summit. Prime Minister Christopher Luxon's hoping to tease out more foreign financial investment in New Zealand's projects and industries at the two-day event in March But Simplicity Chief Executive Sam Stubbs says he's concerned Luxon will spend more time focused on offshore money than domestic money. He told Mike Hosking getting a dollar from overseas is a lot harder than getting a domestic dollar in the door. Stubbs says we'll need to be providing a lot of incentives, something we've typically steered clear of in the past, and you can't just set up an expo tent, sprinkle it with a few All Blacks and expect foreigners to invest in New Zealand - it's a competitive business. He says it's all very well to focus on the offshore money, but he thinks the size of the prize is much bigger domestically. LISTEN ABOVE See omnystudio.com/listener for privacy information.
On the Mike Hosking Breakfast Full Show Podcast for Tuesday 11th of February, we have economic growth winging our way, so will that turn the economy around? The Prime Minister is on to talk his dropping poll numbers, economic growth, and whether there's a riff between him and David Seymour. Famed comedian Ben Elton is coming back to the country for a new show - so will Mike be the butt of more of his jokes? He joined the show for a quick chat. Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts. LISTEN ABOVESee omnystudio.com/listener for privacy information.
Resource Minister Shane Jones has been attacking banks for cutting back on lending to fossil fuel businesses - calling them "woke". KiwiSaver provider Simplicity head Sam Stubbs spoke to Corin Dann.
The country is desperate to go for growth. The question is: how? We got 3 points of view over the weekend - Friday it was the turn of Matthew Hooten. His piece was called New Zealand needs a strategic approach to building wealth like Singapore's Temasek. Temasek own and manage assets that are held directly by its government. They operate a major bank and insurance company, Singapore airlines, the country's main port, and a load of other things. It's as if we've been investigating it for decades. Even Grant Robertson was interested but nothing's ever happened. So it has cross party appeal, but why hasn't it happened? Who knows. Ask the politicians - all talk no action. On Sunday, it was the turn of Don Brash and Michael Reddell who in a shared piece said our problem is our low productivity. No kidding! Every politician says that and none have come up with an answer. Brash and Reddell's only proffered solution is to lower company tax rates to attract overseas and local investment. They claim we have the one of highest company tax rates in the world, which is balderdash. We sit at 28 per cent. Australia at 30, the US and the UK around 26. We're slightly above median and no disrespect to Don Brash, you had terms as a reserve bank governor and leader of a couple of political parties and plenty of opportunities to lift productivity and failed. then there was Sam Stubbs who said if we're selling public assets lets sell them to new Zealanders like super funds so the wealth stays in New Zealand instead of being exported. To me that's the key. Stop saying productivity and start saying wealth creation. find out how to make or supply stuff that the world wants and then keep the profits and the workers in New Zealand, then we start generating wealth and then we recycle it to create more great businesses.. That's Denmark's trick. That's why they operate the second largest container ship operation in the world, to import capital rather than export it. See omnystudio.com/listener for privacy information.
Dive into 2024's top property insights with Sam Stubbs, Founder of Simplicity, Jarrod Kerr, Chief Economist at Kiwibank, Matt Harris, Managing Director of Lighthouse Financial and James Kellow, Director of NZMS. From expert strategies on navigating the housing market to securing investments and building wealth, these highlights are packed with actionable advice to help both seasoned investors and first-time buyers thrive in real estate. This episode is proudly sponsored by Partners Life. For more money tips follow us on: Facebook Instagram LinkedIn TikTok YouTube The content in this podcast is the opinion of the hosts. It should not be treated as financial advice. It is important to take into consideration your own personal situation and goals before making any financial decisions.
In this episode, we highlight some of the top share market and economic insights of 2024, featuring expert guests Jarrod Kerr, Chief Economist at Kiwibank, Sam Stubbs, Founder of Simplicity, Dean Anderson, Founder of Kernel, and Murray Harris, Head of KiwiSaver at Milford. From share market trends to KiwiSaver strategies and investment tips, these top insights will help guide your financial decisions in 2025 and beyond. This episode is proudly sponsored by Partners Life. For more money tips follow us on: Facebook Instagram LinkedIn TikTok YouTube The content in this podcast is the opinion of the hosts. It should not be treated as financial advice. It is important to take into consideration your own personal situation and goals before making any financial decisions.
The head of KiwiSaver provider Simplicity is optimistic about the government's plan to grow competition in the banking sector. Simplicity chief executive Sam Stubbs spoke to Corin Dann.
The Government's beefing up Kiwibank - at the request of the Commerce Commission. Its report on banking has found the sector isn't competitive enough, and offered up 14 recommendations. Simplicity co-founder Sam Stubbs says the banks would be foolish to ignore Government warnings. He says the Prime Minister's telling the banks - the game is up. "Remember, the only person that can seriously do damage to the big banks in New Zealand is the Government, because they've got regulation powers." LISTEN ABOVESee omnystudio.com/listener for privacy information.
The Government's beefing up Kiwibank - at the request of the Commerce Commission. Its report on banking has found the sector isn't competitive enough, and offered up 14 recommendations. Simplicity co-founder Sam Stubbs says the banks would be foolish to ignore Government warnings. He says the Prime Minister's telling the banks - the game is up. "Remember, the only person that can seriously do damage to the big banks in New Zealand is the Government, because they've got regulation powers." LISTEN ABOVESee omnystudio.com/listener for privacy information.
Send us a textJoin Dom, Marv, & Sam for a wrap up of the weekends action! Teams still undecided for the championship, snowballs in Boone, and a shocking upset!Game by game review Show Open (where are we?) 0-4:52App State 34 JMU 20 4:52-19:02Arkansas State 28 ULM 21 (Sam Stubbs) 19:02-38:54South Alabama 35 Southern Miss 14 38:54-44:34Georgia Southern 26 Coastal 6 44:34-55:10Louisiana 51 Troy 30 55:10-1:03:39Georgia State 52 Texas State 44 1:03:39-1:09:56Marshall 42 ODU 35 1:09:56-1:23:55Closing Thoughts 1:23:55-1:28:12Thanks to our sponsors -Fanplex - https://fanplex-graphics.com/ Code: SBS at checkout for a 10% discount!TSN Off Road - https://www.tsnoffroad.com/?utm_sourc... Code: SunSyn10 to get 10% on your first purchase!Dubby Energy -https://www.dubby.gg/Code: SBSyndicate to get 10% on your purchase!Dan-O's -https://danosseasoning.com/?srsltid=A...Code: Dawgos to get 10% on your purchase!Support the show
On the Early Edition with Ryan Bridge Full Show Podcast for Tuesday 5th of November, it's Election Eve in the United States, so what's happening in the critical swing states, and has a new poll put Iowa back in play? Herald Deputy Political Editor Thomas Coughlan joined live from the swing state of North Carolina. New government maths tutoring is on the way for students falling behind – how will it work and are schools expecting to see positive results? Remuera Intermediate School Principal Kyle Brewerton gives his thoughts. Kiwis are open to alternative paths to home ownership, according to a new Kiwibank report. Sam Stubbs talks through the options. Get the Early Edition with Ryan Bridge Full Show Podcast every weekday on iHeartRadio, or wherever you get your podcasts. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Homeownership continues to be the dream for most Kiwis, but a growing number of us think we'll never achieve it. Kiwibank's latest State of Home Ownership Report has found 85% of people want to own a home, with most believing it's the key to getting ahead. But over two-thirds of non-homeowners doubt they'll ever own a home, with millennials particularly pessimistic. Simplicity Founder Sam Stubbs told Ryan Bridge KiwiSaver is now the key for most people, but the long wait to save for a deposit is a problem. He says either wages have to increase, taxes have to decrease, or people have to put more in KiwiSaver. LISTEN ABOVE See omnystudio.com/listener for privacy information.
KiwiSaver provider Simplicity says New Zealand's banks are among the richest in the world and seem to behave like a cartel. Chief Executive of Simplicity, Sam Stubbs spoke to Corin Dann.
Since KiwiSaver launched in 2007 more than 110 billion dollars has been invested in the scheme. But, of course, everyone contributes differently and has different goals for their savings. So how does your KiwiSaver balance compare to that of other people your age? And if you're worried you're falling behind, what strategies can you employ to catch up? Jesse talks to Sam Stubbs the co-founder of the not-for-profit KiwiSaver scheme Simplicity.
On the Early Edition with Ryan Bridge Full Show Podcast for Thursday 5th of September, the grocery commissioner says the sector has no meaningful competition and retail margins have increased. Grocery Action Group's Su Chetwin chats to Ryan about what it means and what to do from here. The All Blacks and South Africa could be resuming full tours from 2026, and NZ Rugby say there won't be any changes to rules preventing Kiwis playing overseas from representing New Zealand. Former All Black Ian Jones joins the show. One in five Kiwi retirees don't have enough savings to get them through the next year - that's according to the Financial Services Council. They also want a review into KiwiSaver to make sure New Zealanders are getting the most out of it. So, what needs to change? Simplicity Founder Sam Stubbs speaks to Ryan. Mitch McCann has the latest on the U.S. election - new polls in battleground state are showing mixed results for both Harris and Trump. Get the Early Edition with Ryan Bridge Full Show Podcast every weekday on iHeartRadio, or wherever you get your podcasts. LISTEN ABOVE See omnystudio.com/listener for privacy information.
It's a difficult retirement outlook for many Kiwis. The latest Financial Services Council Money & You research reveals 94% of Kiwis worry about money, and one in five don't have enough in their retirement savings to get them through the next year. Many are dipping into savings to cover basics, with some having to juggle priorities. Simplicity Founder Sam Stubbs told Ryan Bridge that a couple of things need to happen with KiwiSaver. He said that we're getting to the point where it needs to become compulsory, as it's all very well that 79% of people are saving, but that still leaves 21% who's retirement will be funded by the taxpayer. The other thing, Stubbs said, is that the contribution needs to go up. LISTEN ABOVE See omnystudio.com/listener for privacy information.
We're joined once again by Sam Stubbs, the visionary founder of Simplicity, as he discusses the long-term thinking behind Simplicity's 100-year plan for housing in New Zealand. For more money tips follow us on: Facebook Instagram LinkedIn TikTok YouTube The content in this podcast is the opinion of the hosts. It should not be treated as financial advice. It is important to take into consideration your own personal situation and goals before making any financial decisions.
I was on Edwin Dandos' podcast "Rad Work" recently and this is the audio. You can find his show here https://open.spotify.com/show/5yJfzf9MFoExgsj0SMdRRA?si=6f122874f6954eaa Listen to the Seeds Podcast episode featuring Sam Stubbs that is mentioned over here: https://open.spotify.com/episode/2T6DLEiH52sQvrE2QguQUn?si=WaB3PYWXSyerj02pA905pQ And for more seeds episodes go to www.theseeds.nz
We sit down with Sam Stubbs, Founder of Simplicity Living, to discuss his extensive career journey and the innovative approach he has brought to Simplicity through life's learnings and hard truths. For more money tips follow us on: Facebook Instagram LinkedIn TikTok YouTube The content in this podcast is the opinion of the hosts. It should not be treated as financial advice. It is important to take into consideration your own personal situation and goals before making any financial decisions.
Have the stock market wobbles sent you scrambling to look at your Kiwisaver balance? Maybe, best just to look away, with investors being warned not to panic. This after US markets closed down this morning with the broader S&P index falling 3%, Managing Director of Kiwisaver fund simplicity, Sam Stubbs speaks to Lisa Owen.
The Government has hinted it isn't opposed to diluting its 100% ownership of KiwiBank to enable it to grow. Simplicity managing director Sam Stubbs spoke to Corin Dann.
On the show today: Sam Stubbs on how the Aussie banks are absolutely destroying Kiwis. But he's not here to moan, he's come armed with solutions. Alwyn Poole is all for charter schools, and so am I. So we chat education achievement and some of the stats are alarming, especially in our 'bottom 30' schools. Billy Stairmand is off to the Olympics! The surfer runs us through his preparation and where the surfing part of the games is taking place seeing as there's no surf on the river of Paris...funny that... See omnystudio.com/listener for privacy information.
Business leader Sam Stubbs says we are the cash cow that keeps on giving for these Aussie banks.See omnystudio.com/listener for privacy information.
Changes to KiwiSaver could be on the way, but one provider says more needs to be done. Retirement Commissioner Jane Wrightson says New Zealanders' balances are too low. She wants the minimum contrition to rise by one percent, alongside employers' contributions. But Simplicity Founder Sam Stubbs told Mike Hosking that the Government should be doing more to encourage retirement savings. He says as long as it's not compulsory, those who need it the most won't use it. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Day 3 of the new Duncan Garner: Editor In Chief LIVE! On the show: Protest tomorrow - Dave Letele says it may beat out the 2005 Hikoi. Are we on the edge of a revolution? Dave also addresses what the poorest Kiwis need from tomorrow's budget. Sam Stubbs from Simplicity - the man that's doing what the government can't...building houses. In a world full of bad, Sam's bringing us good news. Is Christopher Luxon pushing Kiwis away? He reckons protests should be on the weekend, and tomorrow's one is 'illegal' according to Luxon...SERIOUSLY? Huge show today, let's go! Enjoy folks - We are live again tomorrow from 7.30am on YouTube, Twitch, and Tik Tok. See omnystudio.com/listener for privacy information.
There's growing debate mortgage advisors need more regulation - alongside a Commerce Commission bid to make it easier to take out a home loan. Discussions at a banking conference centred on concerns brokers don't encourage mortgage rate competition. Simplicity CEO, Sam Stubbs, says they provide a valuable service, but commissions are a worry. "What CommComm are concerned about is - are they actually acting in the best interests of the clients, or are they acting in the best interests of themselves to try and maximise their commission?" LISTEN ABOVESee omnystudio.com/listener for privacy information.
The leadership shake-up at Fletcher Building continues with CFO Bevan McKenzie announcing he will quit later this year. Earlier this year, Fletcher Building posted a 26.7% drop in earnings and an after-tax loss of $120 million. Simplicity Founder and Fletcher shareholder Sam Stubbs tells Heather du Plessis-Allan the company has been poorly governed but that it is hard to know where exactly responsibility lies. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Consumer advocates say a muscled up Kiwibank is no silver bullet to fix the country's banking sector. A draft Commerce Commission report has found a lack of competition in the personal banking sector and says New Zealand-owned Kiwibank is too small to disrupt the market. It says there's a two-tier market in which the big four Australian-owned banks have the major share, with smaller operators offering no threat to that dominance. Monopoly Watch director Tex Edwards, Simplicity's Sam Stubbs, and Consumer NZ chief executive Jon Duffy spoke to Corin Dann.
This is one of those 'bad news good news' Slam Dunc's. Housing struggles are becoming life-changingly serious issues for an increasing number of Kiwi's, such as the 70 year grandmother from Tauranga whose rented house she has lived in for 8 years has been sold out from under her. Simplicity founder Sam Stubbs is setting out do something about providing affordable housing for New Zealander's. And he is not just talking a big game, he is delivering. In my opinion Sam should be a contender for New Zealander of the Year.See omnystudio.com/listener for privacy information.
There's a view that the entire Fletcher Building board should go as the company's Chief Executive and Chair call it quits. The company's half-year financial result was announced alongside the two resignations, a first-half loss of $120-million. Shares have plummeted. Simplicity Founder Sam Stubbs told Mike Hosking that he believes the board would struggle to tell shareholders why they should stay. He claims the company's been a 'trainwreck' for some time now. LISTEN ABOVE See omnystudio.com/listener for privacy information.
Simplicity are calling for Fletcher Building's board and management to be scrutinised further. Fletcher's stock has dropped following a multi-million dollar cost blowout on two big projects in Auckland and Wellington. Managing director Sam Stubbs says they called for the chair's resignation two years ago- and action hasn't been taken. "In those two years, the directors paid themselves $4 million in fees- and then they had the absolute cheek last year to ask for a 25 percent pay increase, which they were ultimately talked down from." LISTEN ABOVESee omnystudio.com/listener for privacy information.
Simplicity founder Sam Stubbs is wanting to change the way New Zealander's look at housing, and investing in infrastructure in general. In this episode he joins me to for a look into the current housing crisis and what he, and others, could and should be doing about it. He also discusses the role New Zealand's pension funds should play in long-term investments in infrastructure projects, comparing their impact on economic growth with successful models like Singapore and Denmark. Sam also spotlights the pressing need for reform in New Zealand's banking sector, saying that we have been duped by the Aussie banks for too long. In my opinion Sam Stubbs should be a contender for New Zealander of the Year. Listen on to find out why.See omnystudio.com/listener for privacy information.
Kiwisaver provider Simplicity has announced it will immediately sell off its shares in three Israeli banks in response to the conflict in Gaza. Simplicity says after an internal review, it decided the banks don't meet the requirements of its responsible investment policy. Sam Stubbs is the CEO of Simplicity talked to Heather du Plessis-Allan about it. LISTEN ABOVESee omnystudio.com/listener for privacy information.
Non-profit KiwiSaver provider and fund manager Simplicity says it wants to build and fund 25,000 new homes in the next 10 years. It aims to try hit this goal by launching a new investment fund today that will essentially ramp up its existing programme to increase housing supply. That includes its build-to-rent operator Simplicity Living, offering cheaper mortgage rates to first home buyers and funding community housing providers. Over the past three years those initiatives have led to a $340 million investment in housing across the country, with more than 1500 houses built or in development. Simplicity managing director Sam Stubbs says if 5 percent of what is in term deposits now - equivalent to about $14 billion - were to be redirected to this fund that would be enough to achieve the 25,000 home target.
Yet another competition has arisen between Australia and New Zealand. KiwiSaver is underperforming, with only a 6% contribution rate in comparison to the 11% contribution rate to Australia's Super System. Simplicity Founder, Sam Stubbs, told Mike Hosking that politicians tend to think in the short term when it comes to KiwiSaver. He said that they might be worried that if they make KiwiSaver compulsory or increase contributions, it takes money away from people and makes them less likely to vote for them. Stubbs said they don't see the long-term impact on infrastructure and the economy that super funds can have. LISTEN ABOVE See omnystudio.com/listener for privacy information.
More than 300 build-to-rent homes are set to be built next to Ellerslie Racecourse after a KiwiSaver provider bought the land. Simplicity is now the owner of a 1.4-hectare block of land in Remuera. Managing director Sam Stubbs says it's the type of project KiwiSaver funds should be investing in. He spoke to Ingrid Hipkiss.
A not-for-profit Kiwisaver provider says it's tough competing in New Zealand's banking market. The Commerce Commission has today revealed the nation's banks are more profitable than overseas counterparts. It's just released an initial review of those profits and plans to investigate whether a lack of competition is the problem. Simplicity co-founder Sam Stubbs says most other OECD countries have open banking. "Which opens the doors to competition. Four years ago, the Government promised that it would be here within 12 months. Four years later, it's still not here." LISTEN ABOVE See omnystudio.com/listener for privacy information.
ASB Bank has reported a record net profit of $1.56 billion for the year to June. However, ASB chief executive Vittoria Short said there were signs of a slowdown in the second half of the year, as the slowing economy and rising interest rates bit into the banks' earnings. Sam Stubbs is an investment banker and founder of Simplicity. Stubbs spoke to Ingrid Hipkiss.
There have long been calls for the Commerce Commission to look into competition in the banking sector, and it's now happening. The government announced yesterday the watchdog would run a market study to ensure the market is working well for New Zealanders. The banks say there is competition aplenty, and Finance Minister Grant Robertson suggests if that's the case, they have nothing to worry about. Sam Stubbs, who runs Kiwisaver fund Simplicity, spoke to Corin Dann.
Today's episode is in partnership with Sam Stubbs, founder of the Simplicity KiwiSaver scheme. Sam and the team at Simplicity are committed to making everyday Kiwis richer and smarter with money, as the low-fee, nonprofit KiwiSaver and Investment funds provider.Check them out here.In this episode, Sam Stubbs, founder of Simplicity and I debunk four common misconceptions about KiwiSaver...after too many of these comments on Tik Tok they had to be addressed!Some things we discuss include;Is KiwiSaver a scam? Is the Government stealing money? Clarifying where funds are held and explaining share market fluctuations.How to best stay engaged in your KiwiSaver choicesBenefits for employees vs self employedHow difficult is it to change funds and providers?Sharemarket 101Overall, this was an incredibly empowering conversation surrounding taking ownership of your financial future with confidence! Anyone can do it.Keen to learn more about personal growth, career and money? Find me on Instagram or Tik TokWant to achieve your financial goals?Use my financial planner hereThanks so much for your support and listening it means so much to me. Please leave a rating or review if you're enjoying and we will chat in the next episode.Want to get in touch directly?sarah@theoneupproject.nzDISCLAIMER:The OneUp Project is an educational platform that provides information that is general in nature. There may be opinions or an individuals experience within this resource that should not be considered as recommendations or personal advice. Everyone's financial situation is so different and you must use the information within this resource at your own risk. Please complete your own due diligence before making any decisions based on the information in this resource. I am not a financial advisor and if you require expert advice please seek advice from a professional.
New Zealand remains the only country in the OECD where the top four companies are all banks. That's according to Sam Stubbs, the chief executive of Kiwisaver provider, Simplicity, responding to the latest first-half earnings of Westpac New Zealand. Westpac's latest profit is down a third on a year earlier, largely on account of an increase in impairment provisions rather than a significant dent in revenue, which dipped by just two percent. Mr Stubbs is pushing for a government inquiry into the profits of the big four Aussie banks. [picture id="4MC0LPY_image_crop_120810" crop="16x10" layout="full"] He spoke to Ingrid hipkiss.
Excess Aussie bank profits are now costing every New Zealander a thousand dollars a year. That's the claim from Sam Stubbs, Chief Executive of Kiwisaver provider, Simplicity, who is pushing for a Government inquiry into the profits of the big four Aussie banks. On Thursday, BNZ posted a half-yearly profit of 805 million dollars - up 13 percent as growing numbers of people struggle to pay their home loans. Sam Stubbs spoke to Ingrid Hipkiss.
Calls are ever louder for an inquiry into bank profits. According to the most recent figures, it's understood the Australian owned banks make more than $16 million in profit every day, six-billion-dollars a year. Simplicity KiwiSaver founder Sam Stubbs has joined the Reserve Bank, and others in calling for a market inquiry. He spoke to Guyon Espiner.
In the last year almost 16,000 people took money out of their Kiwisavers to help cope with tough times - but economists are predicting that to rise as the recession hits. People can get their money out of KiwiSaver for a number of hardship reasons, including not being able to pay a mortgage, being unable to cover minimum living expenses, or needing to pay medical costs. Kiwisaver provider Simplicity managing director Sam Stubbs spoke to Māni Dunlop.
Prime Minister Jacinda Ardern is calling banks' profits across the entire sector wrong, but she's being told to turn her words into action and launch an inquiry. National wants the decisions of the Reserve Bank investigated to find whether its monetary policy contributed to financial institutions recording bumper bottom lines. Westpac this week reported its annual earnings had climbed to just over $1b. We approached Westpac, the ANZ, Kiwibank and the New Zealand Bankers Association to speak to us this morning, all declined. Sam Stubbs, the managing director of Kiwisaver provider Simplicity, has long argued for an inquiry into bank profiteering. He spoke to Corin Dann.
Having bought his first share at age 12, Sam Stubbs has always had an eye on the economic and financial world. Now co-founder and managing director of Simplicity (the only non-profit KiwiSaver fund manager) he joins the pod to speak on leading the mission of conscious investment and providing financial literacy for New Zealanders. Hosted on Acast. See acast.com/privacy for more information.
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