Most retirement housing debates focus on net worth.

But housing in retirement is not a wealth decision - it is a cashflow system decision.

Renting, owning, downsizing, and retirement villages all turn the same $1,000,000 into very different lived outcomes. Some preserve flexibility. Some trade it away. Some feel safe early and become fragile later.

This analysis looks at how each option behaves when life changes - when rent rises, markets struggle, health declines, or unexpected costs arrive at the wrong time.

Because retirement plans rarely fail on day one.

They fail when flexibility disappears.

The goal is not the prettiest chart.
The goal is a lifestyle that still works when things get messy.

If something expensive and unexpected happened in year 5 - where would the money come from?

That question matters more than whether you rent or own.

Most people in New Zealand ask the wrong question about money. It is not just "how do I get rich?" - it is "how do I build enough ownership that my money works harder than I do?" In this piece we break wealth into clear levels, show what is realistically achievable on an average or high income, and explain why multi million dollar wealth usually comes from owning businesses or other productive assets, not just earning a bigger salary.

How far does $100,000-$500,000 actually go in retirement? Most people picture a big lump sum but struggle to translate it into weekly spending. The truth is although $100k-$500k it won’t replace a full-time income, it can still be a meaningful top up to NZ Super. Depending on how you invest and how quickly you want to spend it down, it can give you anywhere from $12k a year for life to more than $20k a year over a fixed retirement period. Here’s how to understand what your retirement savings really buys you.