Kiwis are being urged to stay calm and stay the course as stock markets tumble.
There’s global uncertainty off the back of Donald Trump’s sweeping tariffs, and investment funds like KiwiSaver have been taking a hit.
Mortgage brokers have been facing concerns from first-home buyers, wondering what to do about the slump in their balance as they look to purchase.
Personal Finance Journalist Mary Holm told Kerre Woodham that people should always keep money they plan to spend soon out of high-risk funds.
She says that if you plan on spending a significant chunk of money within the next two to three years, you should request your KiwiSaver moved to the lowest risk fund.
For those who cut it close, Holm says to sit tight.
She told Woodham that share markets often overreact to economic events like the tariffs, and they’ll recover eventually.
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Kerre Woodham Mornings Podcast