tag:blogger.com,1999:blog-37004442463750994382012-02-17T04:18:20.808Zpersonal finance news, views and opinions to make you richerInformed Choice Ltdnoreply@blogger.comBlogger181100tag:blogger.com,1999:blog-3700444246375099438.post-53546686844411636592007-09-30T15:49:00.000+01:002007-09-30T15:50:34.173+01:00

A hot topic in the world of retail financial services right now is the suitability of Self Invested Personal Pensions (SIPPs) when compared to the alternatives of a personal or stakeholder pension. Earlier this week the Financial Services Authority (FSA), who are responsible for investor protection in the UK, issued a warning to advisers that they should carefully examine SIPP charging structures

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-36019663467994521432007-09-29T17:01:00.000+01:002007-09-29T17:12:08.047+01:00

The BBC reports today that the personal wealth of UK households has more than doubled between 1996 and 2006, to £6.336 trillion. That's a very big number, but included within that figure is the value of property (after mortgage debt has been taken off) of £2.7 trillion. In fact, over half of the rise in personal wealth during that ten year period was down to house price inflation. I think that

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-87296280495165803612007-09-22T21:33:00.001+01:002007-09-22T21:33:34.822+01:00

I was quoted in the Atlanta Journal today, in an article looking at how our levels of personal debt now exceed GDP. It is well reported that the Americans have their own problems with personal debt in the wake of the sub-prime mortgage debacle. However, over the past week our friends across the pond have started taking more of an interest in the health of our own economy.Earlier this week Alan

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-60164790077826788462007-09-17T13:45:00.000+01:002007-09-17T13:46:29.852+01:00

I feel that I may have been a little bit hard on an old man earlier today. A journalist called me this morning to ask for my thoughts on comments from 81 year old Alan Greenspan, the former head of the US Federal Reserve. You can read what he had to say here.I responded that it is a bit rich of him to start prophesizing doom in the UK housing market when the main problems rest in the US. Unlike

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-55316864019622807922007-09-13T21:10:00.000+01:002007-09-13T21:17:37.051+01:00

According to some research published today, about £125 million will be wasted by parents not taking advantage of the full tax breaks of their children’s Child Trust Funds in 2007.Hearing about wasted tax breaks is never a surprise. I am constantly shown figures that suggest we are all paying the tax man far too much in unnecessary income, capital gains and inheritance tax.What makes this

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-90260631189822996292007-09-12T15:48:00.000+01:002007-09-12T15:55:57.864+01:00

There was some interesting research from Birmingham Midshires published today, suggesting that 55% of people in the UK do not think they earn enough to save.The average amount British savers think they need to earn in order to be able to afford to put money away in a savings account each month is £1,824. However, a third (33 per cent) of Brits cited £2,000 or more as the minimum monthly salary

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-58235073843563354452007-09-10T19:42:00.000+01:002007-09-10T19:48:36.126+01:00

Changes to the rules surrounding Home Information Packs (HIPs) introduced today look set to cause more confusion and rule bending. This comment from price comparison site moneysupermarket.com just about sums things up:“Amid all the chaos surrounding HIPs, the Government has introduced yet another amendment that will only confuse matters further. Anyone searching for a three bedroom home might

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-90601881110128175722007-09-08T09:21:00.000+01:002008-12-09T01:37:21.891Z

I was quite sceptical when I first heard about Tim Ferriss and his book, The Four Hour Workweek. You only have to take a look at this biography to wonder how such a young person could achieve so much in such a short space of time.At only 28 years old he speaks six languages, is a national Chinese kickboxing champion, and a guest lecturer at Princeton University. His book is based on this

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-38564305614619578132007-09-07T22:15:00.001+01:002007-09-07T22:16:11.301+01:00

They should be called 'debt' cards really. This couple take an innovative approach to cutting down their debt:

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-42332160190731177392007-09-07T19:31:00.000+01:002007-09-07T19:37:32.618+01:00

Banks. Don't you just love them?Recent research by Defaqto, the financial research company, has found that bank account holders rate “good customer service” as the most important feature in a current account. This feature came ahead of 'free when in enough credit' and 'a good interest rate'.My own experience with high street banks over recent years has been mixed, at best. I changed banks for

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-65115705671571885882007-09-07T19:24:00.001+01:002007-09-07T19:30:11.406+01:00

Children will be taught how to open a bank account, understand basic financial concepts like interest rates and learn important skills to plan for their financial future as part of an £11.5 million boost to personal finance education. This initiative was announced today by Children, Schools and Families Secretary Ed Balls and Treasury Minister Kitty Ussher.This is a really positive move, in my

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-42391224888626566642007-09-06T20:31:00.000+01:002007-09-06T20:39:06.420+01:00

The Monetary Policy Committee (those seven men and two women in suits who decide how much your mortgage is going to cost you each month) decided today to keep UK interest rates on hold at 5.75%. This decision was widely expected following weeks of uncertainty in the money markets following the sub-prime mortgage 'crisis' in America. Recent inflation figures also appeared to be showing a slow

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-59235624160551879252007-09-06T16:45:00.000+01:002007-09-06T16:51:49.893+01:00

Pensions have historically been geared up to provide retirement benefits at the traditional retirement ages of 60 or 65. Those wishing to retire any earlier than this will need to bridge the gap with non-pension financial resources. In this article Independent Financial Adviser and personal finance author Martin Bamford considers the main issues associated with early retirement planning.The

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-91711058872351927022007-09-05T22:24:00.000+01:002007-09-05T22:36:01.715+01:00

Nationwide has coined the term 'rate shock' mortgage to describe the 250,000 people who have a fixed rate deal coming to an end between October and December 2007. Back in Autumn 2005, when these fixed rate mortgages were taken out, interest rates were at a historically low level. The average rate for a two year fixed rate mortgage back then was only 4.56%. Since then the average has risen by

Informed Choice Ltdnoreply@blogger.com1tag:blogger.com,1999:blog-3700444246375099438.post-62943028926258103682007-09-04T23:15:00.000+01:002007-09-04T23:23:16.658+01:00

I found an interesting article in The New York Times whilst pottering about on the web earlier today. The author describes several people from Silicon Valley who, by a traditional definition of the term, are very wealthy but don't feel particularly rich because of the expensive lifestyles they maintain and their relative wealth in comparison to neighbours.This has created a new phrase - the '

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-492347794813491902007-09-01T10:44:00.000+01:002007-09-01T10:47:58.491+01:00

Q I've heard a lot about 'tracker' funds. What are the advantages of using these rather than more traditional managed investment funds?A Tracker funds are part of an investment group referred to as 'passive' funds. These funds are designed to 'track' the performance of an investment market or index. For example, an index tracker fund might aim to track the performance of the FTSE 100 index -

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-86254045488861646832007-09-01T10:36:00.000+01:002007-09-01T10:43:50.045+01:00

Q The recent flooding has made me worry a lot about how my family would cope, financially, if I was killed in a natural disaster. What can we do to alleviate these worries?A Natural disasters often focus our minds on the financial impact of death. To give yourself real peace of mind, you can put insurance in place that would pay a benefit (known as a sum assured) to your family if you were

Informed Choice Ltdnoreply@blogger.com0tag:blogger.com,1999:blog-3700444246375099438.post-70050483258736827982007-08-31T23:25:00.000+01:002007-08-31T23:39:55.998+01:00

Tomorrow, 1st September 2007, will mark five years since children born in the UK have been eligible for a Child Trust Fund.The actual scheme didn't materialise under 6th April 2005, but all children born on or after 1st September 2002 will have received a voucher of at least £250 to invest in a Child Trust Fund. Or at least their parents will have received the voucher and then faced the decision

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