Find out in this newsletter why NZ is on top;  Check your health details online; Would your business survive any cyber crime? Read some eye-watering medical stats plus the latest news on our team at RIVAL Wealth.

Are we at a crossroads?

With John Key recently stepping aside, we look at how he leaves New Zealand financially. The Legatum Prosperity Index, an international index which looks at income, health, business opportunities, nature and security has just rated our country.

As we already knew they have rated us number one for the first time ever. And the Legatum Index are not the only one’s; The World Bank reckons we’re the easiest place on the planet to start a business, a whopping 14 places ahead of Australia.

And for the fourth year in a row, The Telegraph Travel Awards in the UK have bestowed us with the honour of being “the best country in the world”.

Minister of Tourism Paula Bennett will be happy, as tourism is booming. Over 7.5% of the workforce are now employed in the tourism industry. And according to the latest Times Higher Education World University Rankings, all eight New Zealand universities are in the top 600 in the world out of a possible 16,000.

According to a major OECD survey that came out last month, New Zealand ranked 5th equal in financial knowledge, behaviors and attitudes. This survey confirms that we are, on average, a financially literate nation.

However, there’s still plenty of room for improvement, and for new PM Bill English to focus on. Housing affordability continues to be a problem, particularly in Auckland and especially for first-home buyers.

There are significant skill shortages in many parts of the country in construction, agriculture and forestry, health and social services as well as a chronic shortage of teachers, especially in maths and science.

But overall, it’s fair to say that our country’s isolation is no longer our achilles heel. As the world becomes increasingly uncertain, New Zealand is now viewed as a country that is safe and secure. For the first time in decades, more people are moving to New Zealand from Australia instead of the other way around. No doubt about it, New Zealand is a fantastic place to live this Christmas.

Magical online medical app

Manage My Health is a brilliant new website which gives you access to all your medical information held by your GP. The site allows you to book an appointment, receive lab results and access your records. It’s an online service and there’s now a free app for both iPhone and Android phones. You can read more on their website here: https://www.managemyhealth.co.nz/

Are you at risk of Cybercrime?

With almost every business using the internet these days, it’s vital to keep your personal and business data protected.

Click here to view a short video explaining Cyber Insurance and how it can help you (video 2.33 mins long).

Would you want to pay these medical claims yourself?

Here are some staggering statistics recently released by a couple of large health insurers.

Here’s the top 3 NIB medical claims in July 2016.

Mastectomy and breast reconstruction – $80,000
Heart aortic valve replacement – $87,000
Scalp melanoma removal and reconstructive surgery – $98,000
The average cost of these 3 claims is $88,300. Interestingly, these claims were from clients who have held these polices with NIB between 7-17 years.

As at 30 June 2016, Sovereign paid $63,987,132 for health claims for the year. This is an increase of $5,220,125 from claims paid for the same period in 2012.

We have a relatively good public health system in NZ, especially for immediate care and emergency treatments, but our public hospital waiting lists are long. To self-insure by saving up enough money to pay for medical care is impossible for most of us, so why take the risk? Talk to RIVAL Wealth today to see how we could help you with your medical insurance.

A Sad Goodbye

In October, our beloved friend and work colleague, Arja van der Kooy lost her battle with cancer. Arja was the first employee joining RIVAL Wealth in February 2009 and was instrumental in the success of our business. Her wonderful sense of humour, her beautiful smile and her complete dedication to her family and friends will be deeply missed.

Arja’s passing has made us reflect on our own personal lives, our family and our friends. It’s given us a wake-up call to ensure our own funeral wishes are known to our families. So we’ve designed a form called “These are my wishes when I pass away”. While this can be a difficult subject to think about, we urge you to take some time over the Christmas break to complete this valuable document and keep it in a safe place with your will. Click here to print

Finally, make sure you check out our Facebook page for regular tips on how to save money at this pricey time of year. We’re not far away from opening our new office space so feel free to pop in and check out our fancy new feature wall!

Happy holidays everyone! We wish you all a safe and enjoyable Christmas and look forward to an amazing 2017.

THE TEAM AT RIVAL WEALTH

The information in this newsletter is of a general nature, and is not intended as personalised financial advice. We recommend speaking to your adviser before purchasing, changing or disposing of any financial products.

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