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Speaker 1: The old key Saver chats back. Now that the good

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Speaker 1: days of the market are over and Trump is loose

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Speaker 1: in the house, wreaking have it with the Tower of Business.

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Speaker 1: Very topsy turvy, they say on key Save ahead of

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Speaker 1: Key Saber. At Milford Asset Management, Murray Harris's well us, Murray,

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Speaker 1: very good morning to you.

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Speaker 2: Good morning Mike.

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Speaker 1: Is this a media thing because we have this discussion

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Speaker 1: every time the market goes a bit wonky and somebody

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Speaker 1: comes into power. I mean, do people ring you up

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Speaker 1: and go, oh my god, Murray, what do I do now?

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Speaker 1: Or not?

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Speaker 2: Well, Look, there's one of the issues with kiv Saver

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Speaker 2: is that people can see their balance every day and

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Speaker 2: there are things to worry markets every single day. Markets

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Speaker 2: go up and down, and really the advice to people

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Speaker 2: with Kivsaver is that they should just ignore that, stay

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Speaker 2: the course and don't.

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Speaker 1: Pay it exactly. It's a long term savings plan. It

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Speaker 1: always has been what percentage off the top of your head,

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Speaker 1: because part of the whole debate around kivy saver is

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Speaker 1: the lack of interest in it and default funds and

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Speaker 1: all that sort of thing. What percentage of people you

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Speaker 1: deal with are actually interested knowledgeable and know what's going on.

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Speaker 2: Well, participation is actually quite good. There's three point three

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Speaker 2: million kiwis in it, and there's quite strong representation in

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Speaker 2: the younger cohort, so they do see you know, younger

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Speaker 2: people in particular said as a good scheme to well

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Speaker 2: first of all, say for the first home and then

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Speaker 2: longer term retirement. But yeah, the retirement question is much

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Speaker 2: further out for most people. But participation is good good.

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Speaker 1: And these debate or difficult times that we're dealing with

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Speaker 1: with tariffs at the moment, do you see a breakout

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Speaker 1: result in terms of growth versus conservative or does it

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Speaker 1: keep on keeping on the way it generally does.

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Speaker 2: Whether it's tariffs or pandemics or elections, whatever it is

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Speaker 2: was markets are always going to react to those, so

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Speaker 2: your KIV saver balances are always going to go up

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Speaker 2: and down. The benefit with kivsavers you're making contributions every

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Speaker 2: single week or month or fortnite from your pay so

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Speaker 2: when markets go down, your contributions are actually buying more value.

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Speaker 2: You're buying cheaper units in your fune and then where

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Speaker 2: markets recover, your benefit from those more units that you

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Speaker 2: brought with your cheaper dollars. So that's why we say

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Speaker 2: stick to the plan, stay the course, don't panic, and

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Speaker 2: if you're really uncertain, get some advice. There's plenty of

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Speaker 2: good advice out there now for keV saving.

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Speaker 1: English good stuff. Marrie appreciate it. Myry hair us out

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Speaker 1: of Milford, esset with us this morning.

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