u/ImportantSmile7967

I need some retirement planning advice.

As above. I'm 56 and currently single, grown up kids, secure self-employment as health professional.

I have a small UK NHS pension that I can access in 4 years that will give me $21k pa plus $60k lump sum. I'll also get about $14k pa from UK super from additional voluntary NI contributions, but not until I'm 67 (at current exchange rates). Hopefully NZ super will still be thing then, too.

I got divorced 6 years ago. I'd put all my spare earnings into clearing the mortgage rather than into a pension. I relied on a verbal promise that my ex reneged on, with the result that at age 50, I went from mortgage free to being $300k in debt when I bought her out of the house.

I've banked $300k over the last 6 years to become mortgage free again. My house/home in Dunedin was valued at $600k in Sept 2020, have made some improvements to it since, but assuming value won't be radically different from that now. I have no other savings.

I enjoy my work and, barring a health disaster, can work past retirement age, but certainly want to go very part time as soon as I can and work to live, not the other way around. Good health doesn't last forever and I don't want to put off doing the things I enjoy (tramping, travel) until retirement.

I have no debt at all, I'm pretty prudent with money and have no stupidly expensive hobbies. Based on the last 6 years, I should be a able to invest $50-60k pa for the next 10 years, while having enough for contingencies.

I've just opened a Milford growth fund kiwisaver. My draft plan is to invest half what I can into that fund every year (and shift to a more conservative fund as retirement age draws near).

I'd like advice about what to do with the other half $25-30k per year. I'm absolutely clueless about markets and shares etc., and I don't see that changing! I obviously understand that past performance is no guarantee of... but was thinking of just sticking it in the S&P 500.

if that's a good idea, what would be the most cost effective way of doing this? If that's not a good idea, what else should I consider?

Cheers

As above, experinced, well equipped and physically fit middle aged tramper here. Been in NZ 20 odd yrs. Comfortable camping on winter tops, etc. I know my way way around Central Otago well enough but I'm wholly ignorant of Canterbury.

Heading up to Chch next week for work but planning to skive off for a couple of days to go tramping with my fit as a butcher's dog, adult daughter, who's just moved up there (been tramping since she was a nipper and is now sherpa material).

She was thinking of Brass Monkey bivvy. Sounds good to me from what I've read, but grateful for any insights, warnings, etc. or additional suggestions

Cheers