Member Story - Tom Reeves

Tom Reeves is an associate at Westpac on the Fixed Income Trading Desk.

Working for a bank has definitely influenced my saving and spending habits as my job requires me to be aware of the global and local news and understand how that will impact the financial markets.

Most of my investment goals are set for the long term therefore I tend to ignore the day-to-day or monthly movements of the market sometimes. In my opinion, the downside of the market is a good time to purchase assets, and my short to medium-term goal is to buy a house or an investment property. The negative moves and rising cost of living have definitely put a dent in the goal currently as I have had to spend more and save less over the recent months, but I know as time goes on, these trends will normalise again.

To have additional income from Westpac NZ Staff Super after retirement is a big plus as that means I have another pool of funds accumulating without me having to do much at all. Another big highlight of the Super Scheme for me is that it is not locked up for life like the KiwiSaver, as having access to your funds before retirement might sometimes be crucial. I would recommend that employees consider joining the Scheme as part of their planning for their financial future and because someone else is doing the hard work of managing your money for you. I do read a lot of the material provided by Westpac Super Scheme to stay up-to-date with the fund’s views and like to track my own contributions and their performance.

I would give credit to my parents also for raising me to be financially savvy, and I think that’s also where my passion for the market comes from. I want to have a very comfortable retirement so I really try to focus on how much I save and where I invest my money.

Although my retirement is 40+ years away, I believe, I will always like to keep my mind busy. One thing that I do look forward to in my post-retirement life is traveling and being able to spend more time with my family and friends. I enjoy being outdoors on the weekend as my weekdays are spent at the desk. I really enjoy playing golf and tennis with my close mates. In winter, I also like to be on the slopes as I used to be a snow skiing instructor back in my university days.