Market & Portfolio Update - May 2023
May saw global share markets deliver a flat return in local currency terms. Worries over the US debt ceiling made headlines; however, a deal between Republicans and Democrats was reached shortly after month-end, and the crisis was averted.
California-based Fisher Investments led the way, supported by their holdings in a number of technology companies. For example, Nvidia jumped 40% after it raised its outlook above expectations thanks to demand for its AI processor chips. At the time of writing, the stock is up over 160% year to date.
In May, we saw the release of the latest NZ budget, with the release pointing toward increased debt issuance, more spending and a significant cash deficit. Global credit rating agency S&P reiterated their previous warning around NZ debt levels, indicating a credit rating downgrade may be in the works if we stay on this same path with respect to government spending.
KiwiSaver is changing
Budget 2025 has introduced some significant updates to KiwiSaver. These changes are aimed at ensuring the scheme remains sustainable while helping New Zealanders grow their retirement savings. Whether you are just starting out, nearing retirement, or somewhere in between, here's what you need to know and how it might affect your financial plans.
Lifetime Book Club: Four Thousand Weeks by Oliver Burkeman
In a world obsessed with productivity hacks, endless to-do lists and squeezing more out of every day, Burkeman offers something radical: acceptance. Not of defeat – but of reality. Because when you really look at it, four thousand weeks (roughly 80 years) is all we’ve got. And no app or bullet journal is going to give us more.