Mary Holm - A Richer You: How to Make the Most of Your Money

I saw your book, Rich Enough, on Mums coffee table and thought, Oh ****! Some quack is giving Mum bad financial advice. I began reading with the intention of ripping it to shreds. Instead, it is probably the best financial advice book Ive ever read. Kudos!

Djon P, risk trader, Melbourne

I have read your column in the Saturday Herald weekly for many years and I never fail to learn something... After reading your latest book, I gave it to my 20-year-old daughter for Christmas and she has found it a revelation, so I am well pleased!

Peter C, retired surgeon, Auckland

Two years ago I inherited some money and I was pondering what to do with it. I wanted to buy shares but didnt have a clue how to go about it.... I bought (Rich Enough) and miraculously it answered all my questions. Everything you say makes so much sense, so I followed all of your advice.

Katharina C, music teacher, Christchurch

My Mum bought me your book for my birthday and its been an absolute game changer for me already.

Sam P, recruitment consultant, Wellington

I feel like your response to peoples questions (more often woes) is warm and relaxed while also being incredibly educated and professional a winning formula.

Frankie E, registered nurse, Auckland

I have just read your book and loved it. I made my daughters day by telling her it is the best present I have received as an adult (and I am 58!)

Anne O, administrator, Christchurch

I read [your column] every week as do my parents (86 and 89) who are still playing in the stock market.

Sue C, property manager, Auckland

I have just finished reading your book Rich Enough?. It helped me on my journey into demystifying the sharemarket.

Emma S, librarian, Westport

You pass on your wisdom in such a human way. Your Rich Enough book is the financial version of the birds and bees chat. Every Saturday I look forward to sitting in bed with a cuppa reading your column.

David L, solicitor, Wellington

Best column. Thank you. Your humour is great! Kia pai to ra. Enjoy your day.

Mary N, retired sales and marketing consultant, and writerly grandmother, Waiheke Island

Your advice is invaluable, even more so in this uncertain time. A national treasure... NZ needs you even more at the moment, were very lucky to have you.

Barbara H, analyst, Wellington

I appreciate the simple way you explain complicated ideas, with a sense of humour... This year, I started to encourage my children, aged 16 & 11, to read some of your Q&As.

Sylvia Y, researcher/writer for Christian charity, Auckland

Thank you for your wonderful column. Its a reassuring voice during this tumultuous time in the markets.

Dani H, director, Auckland

Youve written in a way we can actually understand whats happening. Having taken on board all that youve said, we now know what we should do.

Mel G, retired careers administrator, and Roger G, retired infrastructure supervisor, Auckland

Ive just finished Rich Enough after being convinced to read it by my sister. Life changing!... For the first time ever I feel like I am in control of my finances, and not the other way around. Thanks for the newfound (mental and emotional) freedom.

Sophie G, policy analyst, Wellington

Ive spoken to many people who attribute a lot of their financial knowledge and confidence to you and your writing. Several people have independently referred to you as Saint Mary! The honour is well deserved :-)

Sonnie B, financial planner, Christchurch

Contents

DISCLAIMER

The material presented in this book is for the purpose of general information only. Neither the author nor the publisher in any way warrants or guarantees that the strategies and investment methods described in this book are suitable for your particular investment objectives, financial situation or needs. Readers should obtain professional advice where appropriate, before making any such decision. To the maximum extent permitted by law, the author and publisher disclaim all responsibility and liability to any person, arising directly or indirectly from any person taking or not taking action based on the information in this publication.

Mary Holms opinions are personal, and do not reflect the position of any organisation in which she holds office.

HarperCollinsPublishers

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First published in 2021

by HarperCollinsPublishers (New Zealand) Limited

Unit D1, 63 Apollo Drive, Rosedale, Auckland 0632, New Zealand

harpercollins.co.nz

Copyright Mary Holm 2021

Mary Holm asserts the moral right to be identified as the author of this work. This work is copyright. All rights reserved. No part of this publication may be reproduced, copied, scanned, stored in a retrieval system, recorded, or transmitted, in any form or by any means, without the prior written permission of the publisher.

HarperCollinsPublishers

Level 13, 201 Elizabeth Street, Sydney, NSW 2000, Australia

Unit D1, 63 Apollo Drive, Rosedale 0632, Auckland, New Zealand

A 75, Sector 57, Noida, Uttar Pradesh 201 301, India

1 London Bridge Street, London SE1 9GF, United Kingdom

Bay Adelaide Centre, East Tower, 22 Adelaide Street West, 41st Floor, Toronto, Ontario M5H 4E3, Canada

195 Broadway, New York, NY 10007, USA

ISBN 978 1 7755 4157 8 (pbk)

ISBN 978 1 7754 9188 0 (ebook)

A catalogue record for this book is available from the National Library of New Zealand.

Cover design by HarperCollins Design Studio

Cover images by shutterstock.com

To Ian, for being Ian

This book will help you do better with your money. But as you read it, please keep in mind one of the main messages of my last book, Rich Enough? A Laid-back Guide for Every Kiwi. I write there about research that shows that beyond a certain point getting richer is unlikely to make you happier. It could even make you unhappier. As I say in the heading for Part 5 of this book, Its not all about maximising money!

Thanks to Rod Oram, who first dreamed up my Weekend Herald Q&A column, on which this book is based.

Thanks, too, to Tom Hartmann at the Commission for Financial Capability, for help with information on KiwiSaver providers and so on.

Much appreciation to the following friends and family, who made all sorts of brilliant suggestions that improved this book: Tim Ansley, Diane Cheriton, Peter Daymond-King, Dominique Marriott, Carol Painter, Ian Tucker, David White and Judith White. And special thanks to Lindsay Botham. She knows why!

Its the stories.

It was back in early 1998 when I got a phone call from Rod Oram, then business editor of the New Zealand Herald.

Want to write a column for us?

Of course I did. Id quit The Listener and set out as a freelance journalist the year before.

Im thinking of a Q&A column in the weekend paper, said Rod. You answer readers questions on personal finance stuff.

Could it be a bit quirky? A bit opinionated? Not just me giving the conventional wisdom? I asked.

A column with attitude! I love it.

For the first week of the column, I was scrabbling for questions from friends and Herald