The cost of being: A 70-year-old who can't afford to retire yet

As part of our series exploring how New Zealanders live and our relationship with money, a high school learning support worker outlines their financial situation.

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Gender: Female

Age: 70

Ethnicity: NZ European

Role: Learning support in a high school with neurodiverse students.

Salary/income/assets: 20 hours a week at $34 an hour before tax. Own a small flat valued at $500,000. No mortgage. KiwiSaver of $70,000.

My living location is: Suburban

Rent/mortgage per week: No mortgage or rent. I own the home.

Student loan or other debt payments per week: None.

Groceries: Two people, $250 a week.

Eating out: Average once every month. Approximately $35.

Takeaways: Rarely

Workday lunches: $10 a week.

Cafe coffees/snacks: Average two a week – $12.00.

Other food costs: As both residents of the house have Coeliac disease I pay more for certain food items.

Savings: KiwiSaver $200 a fortnight from my pay. Is up to $70,000 dollars – for my retirement, to pay bills, the biggest one being medical insurance at $400 a month. I have a number of autoimmune illnesses and have four specialists that I see regularly. Plus paying for meds that aren’t funded.

I worry about money: Always

Three words to describe my financial situation: Anxious, modest, vulnerable.

My biggest edible indulgence: Butter

In a typical week my alcohol expenditure would be: Nil

In a typical week my transport expenditure would be: $98 for petrol.

I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: $300

My most expensive clothing in the past year was: A casual dress – $60.

My last pair of shoes cost: A pair of pink sandals – $25.

My grooming/beauty expenditure in a year is about: Haircut and colour every eight weeks – $400.

My exercise expenditure in a year is about: Nil

My last Friday night cost: $60

Most regrettable purchase in the last 12 months was: None

Most indulgent purchase (that I don’t regret) in the last 12 months was: Airline tickets to visit my son and grandchildren in London.

One area where I’m a bit of a tightwad is: I try and buy as much as possible on special.

Five words to describe my financial personality: Needing security, worried, thrifty, careful.

I grew up in a house where money was: Controlled by my father. We were provided with what we needed. My mother had part time jobs at night to pay for extras.

The last time my Eftpos card was declined was: Never

In five years, in financial terms, I see myself: I don’t know. I want to retire soon but need an income on top of the pension, for food, household expenses and improvements, and medical insurance.

I would love to have more money for: My medical expenses, travel, holidays more than once every two years, a better car, more stylish clothes, home improvements.

Describe your financial low: Having to pay a total of $20,000 dollars 14 years ago after a serious a car accident.

I give money away to: Charities, environmental groups, two political parties.