A financial adviser says owning property is one of the best ways to prepare for retirement

Latest census data reveals more New Zealanders are living alone, making it harder to save for a home with a single income.

Full Balance financial adviser Shula Newland says people need to utilise Kiwisaver to get into a house at a younger age - because it's too late to save for retirement in your 50s.

She says retirement calculations are often based on people living in a mortgage free home, and if homeowners still have a mortgage, their cost of living will be higher.