ThatDay Foundational Partner

ThatDay Service Partners

  • ThatDay is a Charitable Trust registered under the Charitable Trusts Act 1957. Our primary objective is to help individuals optimise their spending habits and establish a retirement savings plan.

    Our website tools help you to estimate the amount of money you need to save to achieve your desired retirement income, based on information you provide. It shows how different factors affect the amount of retirement income you need, and the savings targets required. Those factors include your current age, expected retirement age, KiwiSaver contributions, current financial investments, desired spending during retirement, current savings, and expected investment returns*. We allow you to explore different scenarios to help plan your savings strategies. The results generated are based on default assumptions which you can view below.

    We take into account your savings, KiwiSaver balances, and other financial investments such as shares and bonds, and investment property*. Our tools do not take into account your other assets including your family home and possessions such as cars and boats. The results are based on savings and investment balances only and do not take into account the value of any outstanding debt you may have when you retire (for example, a home loan or credit card debt). Our tools do not take into account how you are taxed.

    The website assists you with identifying where savings can be made, particularly in the area of discretionary spending on things like takeaways, subscription services and other non-essentials. We also offer practical information on how you can optimise spending on essential items.

    Our website does not provide financial, tax or accounting advice and does not provide a financial or investment plan. The website does not take into account your personal circumstances. Our goal is to help you understand what savings you need for retirement and how to achieve your savings goal. You should not rely solely on the savings tools in our website. It is important that you take into account your wider personal and financial circumstances. We recommend that you seek professional advice with those matters as required.

    *We apply standard rates of return to all savings & investments as specified in the default assumptions which you can view below.

  • Step 1
    You enter a few details: How old you are, the age you want to retire, how much you want to live on in retirement and how much your current savings are.

    Quick Result
    ThatDay shows you how much you’ll need to have to fund your retirement and how much you need to save every month to get there.

    Step 2
    You enter your income and savings details. ThatDay works out how much your KiwiSaver is already contributing to your savings.

    Step 3
    ThatDay presents you with four different scenarios. These show how different savings amounts and interest rates can affect how much you’ll have to live on in retirement, and when you can retire. You can choose one of these scenarios or create your own.

    Step 4
    Based on the scenario you have chosen, ThatDay presents a graph showing how your savings build up until retirement. ThatDay also shows your Saving Target which gives you a monthly savings amount to aim for. Your existing savings including KiwiSaver are included in the target.

    Step 5
    ThatDay helps you identify where you can make savings by asking you to list how much you currently spend on a range of discretionary items.

    Step 6
    You are shown how it’s possible to save quite a bit by spending less (or nothing) on those discretionary items. ThatDay gives you a total for those savings and shows how it gets you closer to your Savings Target.

    Step 7
    You’re on the way to a better retirement future. If you want to explore your investment options or need help with financial planning or estate planning we encourage you to seek professional advice.

    Step 8
    You are taken to your Retirement Snapshot page which has a range of graphs showing details of how your savings grow before you retire, where your spending money comes from during retirement and how your retirement funds gradually decrease as you get older.

    Bonus: Make more Savings!
    ‘Save your Money, Save the Planet’ offers lots of great advice and resources to help you optimise your spending and save even more.

  • Results shown on ThatDay assume the following (actual rates and circumstances will likely be different): 

    • Inflation is 2% per annum throughout both the savings and retirement periods.
    • You start receiving NZ Superannuation payments when you’re 65 years old, and the amount you receive will go up by 2% each year.
    • Your savings contributions will go up by 2% each year during the savings period.
    • Your spending will go up by 2% each year until you’re 75 years old, and then it will gradually go down as follows:
      • From 76 years old to 80 years old : 1.5% each year
      • From 81 years old to 85 years old : 1% each year
      • From 86 years old to 90 years old : 0.5% each year
    • The rate of return (before inflation and after tax and fees) on your savings and financial investments (e.g. KiwiSaver, shares, bonds, investment property) depends on your current age (in the case of a couple, the rate of return is based on the current age of person who will retire first) as follows:
      • From 16 years old to 35 years old : 7% each year
      • From 36 years old to 45 years old : 6% each year
      • From 46 years old to 55 years old : 5% each year
      • From 56 years old to 64 years old : 4% each year
      • From 65 years old to 90 years old : 3.5% each year
    • When you start getting Superannuation payments, you won’t be getting any payments from ACC.

     

  • This privacy policy explains how ThatDay Charitable Trust (we, us, our) collects, uses, discloses, holds, and protects your personal information. We comply with the Privacy Act 2020 (the Act) when dealing with personal information.  Personal information is information about an identifiable individual (a natural person). You are not required to provide the personal information that we request but, if you choose not to do so, in many cases we will not be able to provide our service.

    How we collect personal information.

    We collect personal information about you directly from you, through contact with us (e.g. when you fill out the form on our website).  Personal information we may collect includes, your name, email address, savings and income information. We do not collect, and you are not required to provide, your bank account details, KiwiSaver account information, or tax information. Where you are providing personal information on behalf of another person, you confirm that you are authorised to do so, and do in fact, agree to this Privacy Policy on that person’s behalf and that, by agreeing to the Privacy Policy on that person’s behalf, that person is bound by this Privacy Policy.

    How we use personal information.

    We collect personal information for the following purposes: 

    • to provide our service to you (and to assist in improving our service);
    • to respond to communications from you;
    • to make contact with you in the future about matters we believe will be of interest;
    • in connection with defending, protecting and/or enforcing our legal rights and interests;
    • to conduct research and statistical analysis (on an anonymised basis); 
    • to comply with our obligations at law and to support us to engage with relevant regulators;
    • for any other purpose authorised by you or the Act.

     

    Who we disclose personal information to.

    We will not disclose your personal information to any third parties except to:

    • service providers who support provision of our website and services (including any person that hosts or maintains any underlying IT system or data centre that we use to provide our website) where necessary for that business to provide those services to us;
    • regulatory bodies (where required by law);
    • lawyers and other professionals, in connection with defending, protecting and/or enforcing our legal rights & interests;  
    • any other person authorised by the Act or another law. 
    • A business that supports provision of our services may be located outside New Zealand.  This may mean that personal information is held and processed outside New Zealand. 

     

    How we protect personal information.

    We will take steps that are reasonable in the circumstances to keep personal information safe from loss and from unauthorised access, use, modification, or disclosure.

    Accessing and correcting personal information.

    You have the right to access your personal information that we hold and to request a correction to that personal information. For that purpose you can email us at: contact@thatday.co.nz 

    Internet use.

    While we take reasonable steps to maintain secure internet connections, if you provide us with personal information over the internet, the provision of that information is at your own risk. 

    If you follow a link on our website to another site, the owner of that site will have its own privacy policy relating to your personal information. We recommend that the site’s privacy policy is reviewed before any personal information is provided.  

    Updates.

    We may change this policy by uploading a revised policy onto our website. The change will apply from the date that we upload the revised policy.

Thank you

A big thanks to all of those who have personally donated to ThatDay. Illustrations by story set.com

ThatDay Charitable Trust. Registered Charity CC59983. 53 Randolph Street, Eden Terrace, Auckland 1010.

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