I am buying silver but selected coins only.
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Last edited by eri; 09-11-2016, 05:32 PM.have you defeated them?
your demons
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Yeah - I am sure it's probably being plotted right now.Email Sign Up - New Discussions, Monthly Newsletter, About PropertyTalk
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The CPI is a fascinating beast.
I haven't had (make that wouldn't make) the time to go back through this thread to find the relevant posts. But the fudge factor of hedonistic stats is mentioned, in those earlier posts. Plus (as I dimly recall) mention that the CPI was seen as a deception, because a CPI movement of - say - 5% - meant little to the top earners in NZ society but had a helluva adverse impact on those lower down the socio-economic pecking order. E.g. National superannuitants.
Today, there was an item touching on this, here.
Retirees need ". . . just over $100,000 in savings at age 65 in order to be able to afford the most basic of lifestyles in either Auckland, Wellington, or Christchurch," research from Massey University has found.
Further down that item is found:
Thanks to the rising rental costs created by a shortage of homes in our big cities and council hiking their rates, housing and household utility bills have increased far faster than the Consumer Price Index, putting pressure on retirees. For the 12 months to June 30 2016, Statistics New Zealand calculated that housing and household utility costs jumped 3.3 per cent, against a rise in the overall Consumer Price Index of just 0.4 per cent, Matthews said.
"That increase will have had a considerable impact on retirees, especially those living alone," Matthews said. "Housing and household utility bills make up 24.2 percent of the basket of goods used to calculate the CPI." "However, for retirees living alone … this category actually makes up between 26.3 percent and 29.2 percent of their total expenditure, so any increase has a disproportionate effect on their cost of living."
"So while superannuation payments went up last year by more than the CPI, in line with the increase in average wages, most retirees will still need additional income, even for a very simple lifestyle."
There are many forumites better at maths than I am, but comparing the story's 0.4% with 3.3% indicates to me that the 'official' and "disproportionate figure" numbers depart from reality by a factor of around 8.
I suspect that finding out - later in life and too late to start any meaningful saving - that being dependent upon the National Super is an existence spectre rather than living a life, is quite scary.
Again dimly recalled, I think we came up with our own [realistic!] formula for inflation. that was:
take the official CPI figure, multiply it by two and add two, to get the real inflation figure for most people.
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Perry, we got a letter in the post about "Changes to our water bill".
Changes? I said to my wife. Is the cost going down?
No? They're going up? Shocker.
And yes CPI is fudged, not sure if it's solely to save on increases in superannuation though.
Not sure why in fact it's understated in many countries.Squadly dinky do!
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Hi all,
Can someone please advise what is the best way to buy physical bullion in New Zealand? I want to take some money off the table and interest rates are so low that i prefer to store my money in gold (rightly or wrongly). There seem to be a few options on google, but i wanted to see if anyone has any experience and can recommend a certain option please?
Thank you.
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I have dealt with these before. I would like a place in Christchurch, rather than Auckland, to do the business though.
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