Who wants to be paid for borrowing money?
YOUR bank contacts you and lets you know that it wants to pay you for having a mortgage. Nice thought? Well, that’s exactly what has happened in Denmark with Jyske Bank, which pays its borrowers 0.5 per cent. Why are they doing that? Why are they paying people for borrowing money? This stems from a […]
Property investment fund opportunity?
BUILDING a property investment/pension portfolio is undoubtedly an art. The psychological magnetism of the fear of losing out, the thought of buying when a fund is ‘hot’ and ‘being with the crowd’, and selling for the opposite reasons, are all barriers to our emotional intelligence, which ensures we lose money. Twenty years ago, I started […]
So how much should I save for retirement?
HOW much should I save for retirement? Well, the answer to that very much depends on your needs and lifestyle in retirement, and how that will differ from today. A simplified approach is to look at what you are earning now and what you actually need to live on, ie after spending, what is left? […]
Inheritance Tax abolished?
TAX changes and budgets are often used as a bogeyman to nudge people along with their financial planning. While the centuries old leverage of terror was successful to get us all into the house before dark, the current proposed alterations to Inheritance Tax (IHT) however, might indeed have some reality to the fear. Inheritance Tax, as […]
Better mortgages can give you a day off work
I LOVE the words ‘compensation package’ as an alternative to a salary. In many ways we are compensated for being at work, away from our families, the garden, the mountains or the beach. With the smallest of tweaks to our financial planning, we can easily be 20-30 per cent more efficient with our money, which […]
Do I leave a financial gift to my children now or later?
LEAVING a financial gift for your children depends on many factors. Should you give them anything at all (after all ‘I started with nothing’ is a common response)? Should you have the benefit of seeing them benefit during your lifetime and assisting their family’s financial security? Much is down to how you think and there […]
The great inflation robbery
I DISTINCTLY remember the price on the bottom right of a bag of Tayto when I was six years old, which said 2p. It also had more crisps in it than air, another price of capitalism I suppose. The rising cost of goods – inflation – is what drives us to earn more and make […]
Counter intuitive investing at retirement
AFTER last week’s column on the level of income you can take from your pension in retirement without eroding your capital, I’ll add some tips on how we might maintain your financial security by shoring up your pension values. The ‘safe’ rate at which you can draw down income is considered, by some experts, to […]
How much can I withdraw from my pension?
ONCE, retirement was straight forward. You built up a reasonable fund of money and bought an income for life through an annuity. It was guaranteed and you had a few choices to think of – a rising or flat income; guaranteed length of time after death; and spouse’s or children’s benefits were the key items […]
Google and Facebook in $100 million hacker hit
FOLLOWING your questions from last week’s column on the multiple investment scams we seem to be facing at the moment, I thought I would follow on with ‘others to keep your eye on’. Since the introduction of new more liberal pension rules, 53 per cent of pension pots accessed have been fully withdrawn. There is […]
How to spot those many Investment Scams
THERE’S rarely an evening that ‘the next new investment idea’ doesn’t interrupt my relaxing pint in the bar. It is in those moments where an investor’s confirmation bias can lead them to considerable loss. Questions like ‘but don’t you think?’ serve only to confirm what they already believe, but are tantamount to poor decision making. […]
How your overdrafts are over 1,000 times the cost of a mortgage
AT the heart of the culture of any financial organisation should be the word trust. Yet year on year, those financial organisations who know the right thing to do, just don’t do it, and you pay through the nose for it. I’m sure you’ve seen the recent news regarding overdraft fees, which is another startling […]