Analysis Topic: Personal Finance
The analysis published under this topic are as follows.
Friday, March 22, 2013
Enough Money to Not Worry / Personal_Finance / Savings Accounts
By: Don_Miller
Several readers have asked why I use CDs in so many examples. With good reason, they wondered if I was suggesting buying CDs, which made them question my wisdom and sanity. If anyone thinks that's what I'm recommending, I must have been remiss in conveying my message.
On that note, I'd like to make one thing clear: I am absolutely opposed to buying any CD denominated in US dollars. (And since we're clearing things up, I should also mention again that I am wholly opposed to TIPS.)
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Tuesday, March 19, 2013
When Is Insurance a Good Investment? / Personal_Finance / Insurance
By: Don_Miller
A friend recently asked about a life insurance policy with a guaranteed cash buildup far in excess of what he could earn on a CD or long-term Treasury. What did I think?
During my working career, I had many insurance companies as clients. When I asked similar questions, I always got the same response: with any "combination" product — that is, an insurance policy with an investment component — consider each part individually.
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Tuesday, March 12, 2013
Captaining Your Own Retirement Ship / Personal_Finance / Pensions & Retirement
By: Don_Miller
When Kerry Lutz turned off the recorder after interviewing me for the Financial Survival Network a few weeks ago, we started talking about a common challenge we both face: getting an entire generation to wake up and see that we have a real problem.
Most seniors and savers readily admit that interest rates are terrible and don't keep up with inflation, yet – even with the terrible squeeze this puts on their pocketbooks – Kerry and I know of too many people who think their nest egg will manage itself. After working a lifetime to build up their portfolios, many retirees are looking for a "set it and forget it" type of investment that no longer exists.
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Monday, March 04, 2013
Best Cash ISA to Beat Funding for Lending Fraud Against Savers / Personal_Finance / ISA's
By: Nadeem_Walayat
The 2012-13 tax year will soon be ending which means that those that have not already utilised their annual allowance of £5,640 for earning perpetual tax free interest on savings will lose it.
Unfortunately Britain's bankrupt bailed out banks continue to be supported by tax payers and Bank of England rampant money printing to an unlimited extent which via mechanisms such as the Funding for Lending Scheme is impacting severely on savers in terms of depressing UK savings interest rates whilst Quantitative Easing monetization of UK government debt and the financing of fictitious profits that form the basis for bonuses, that are even paid out when the Banking crime syndicate members such as RBS and Lloyds TSB announce losses results in the Inflation stealth theft of purchasing power of savings and earnings.
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Thursday, February 07, 2013
Payday Loans Get Criticised – Again / Personal_Finance / Debt & Loans
By: Submissions
Brent Wayne writes: Payday loans always seem to be being criticised and this time it is because there is a feeling that students are being unfairly targeted for them. A payday loan is an expensive way to borrow because it is aimed at people with a poor credit record, which may mean that they have been in debt a lot in the past or that they have no history of borrowing. It is felt that these people are the ones that are most vulnerable in society and so they should not be being targeted.
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Wednesday, February 06, 2013
Gloomy Cash ISA Savings Interest Rates Outlook / Personal_Finance / ISA's
By: MoneyFacts
Moneyfacts research reveals a slow start to the ISA season. Not only has it started a month later than expected, product choice and rates have fallen and the ability to transfer funds is fading fast.
In Feb 2012, the market consisted of 385 ISAs paying an average of 2.55% and 22 of those would not allow transfers in.
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Friday, February 01, 2013
The Frightening Financial Crisis Facing Young Americans / Personal_Finance / Student Finances
By: Money_Morning
Ben Gersten writes: Young Americans are falling deeper and deeper into a financial crisis that will be nearly impossible to escape from in their lifetimes.
Unfortunately, the problems start at a very young age. Not only do a record number of school-age children live in poverty, but the number of homeless children in the public school system has reached an all-time high.
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Thursday, January 31, 2013
FSA Plans to Review UK Retirement Annuity Pricing / Personal_Finance / Pensions & Retirement
By: MoneyFacts
Following the announcement that the Financial Services Authority (FSA) is to conduct a thematic review into annuity pricing, research by Investment Life & Pensions Moneyfacts highlights the financial detriment that consumers could suffer in retirement as a result of their failure to shop around for the best annuity.
The table below highlights the difference between the most competitive annuity and least competitive annuity deals currently available to retirees at a variety of different ages.
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Friday, January 18, 2013
How to Tell If You’re Rich / Personal_Finance / Money Saving
By: Investment_U
Alexander Green writes: One of the biggest points of contention in the last election was whether the rich pay their fair share of taxes. Polls show the majority of voters don’t believe they do.
Of course, this begs the questions: Who is “rich” and what is “fair?”
Answers are largely a matter of opinion. But here is a fact: IRS figures show that the top 10% of income earners make 43% of all the income and pay 70% of all the taxes. Is that fair? If not, how much should they pay: 75%… 90%… all of it? And how about the now widely recognized fact – thanks to Mitt Romney’s secret videographer – that 47% of Americans don’t pay any income taxes. Is that fair? Opinions will vary.
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Tuesday, January 15, 2013
Intense Inflation Misery for Weary Savers / Personal_Finance / Savings Accounts
By: MoneyFacts
Inflation figures released today show the Consumer Prices Index (CPI) in December stuck at 2.7%.
To beat inflation, a basic rate taxpayer at 20% needs to find a savings account paying 3.37% per annum, while a higher rate taxpayer at 40% needs to find an account paying at least 4.50%.
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Wednesday, January 09, 2013
UK Pension Annuity Income Suffers Biggest Fall Since 1998 / Personal_Finance / Pensions & Retirement
By: MoneyFacts
New research by Investment Life and Pensions Moneyfacts has revealed that the average annual income generated by a standard annuity for a 65-year old male fell by 11.5% during 2012. This is the biggest annual fall since 1998, when annuity income fell by an average of 13.7% (see Table 1 below).
The equivalent annuity income for a female dropped by 6.1% in 2012, a fall that was cushioned by the uplift that females received on the switch over to gender neutral pricing from 21 December 2012.
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Tuesday, January 08, 2013
UK Saving Accounts Fast Disappearing Bonus Interest Rates / Personal_Finance / Savings Accounts
By: MoneyFacts
Just when savers thought it couldn’t get any worse, it did. Moneyfacts research shows that not only are savings rates falling to devastating lows but introductory bonuses are all but disappearing too.
The table below shows the number of accounts over the last three years, including August 2012 when Funding for Lending was launched as an indication of what happened to accounts straight after launch.
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Tuesday, December 18, 2012
No UK CPI Inflation Christmas Gift for UK Savers / Personal_Finance / Savings Accounts
By: MoneyFacts
Inflation figures released today show the Consumer Prices Index (CPI) remained at 2.7% during November.
To beat inflation, a basic rate taxpayer at 20% needs to find a savings account paying 3.37% per annum, while a higher rate taxpayer at 40% needs to find an account paying at least 4.50%.
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Sunday, December 16, 2012
Home Winter Weather Proofing 22 Point Survey, Save Energy & Repair Bills / Personal_Finance / Home Maintenance
By: Sami_Walayat
Conducting a preventative home winter weather proofing survey can save on costly repair bills such as damage form blocked drains, gutters, leaking roofs, and burst pipes, as well as saving on excessive energy usage due to drafts, lack of insulation and boiler problems.
This comprehensive 22 point video DIY home survey will show you all of the main areas that should be covered that has the potential of saving £ thousands each year.
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Wednesday, December 12, 2012
The UK Saving Accounts Vanishing Act / Personal_Finance / Savings Accounts
By: MoneyFacts
Moneyfacts research reveals 351 savings accounts have been withdrawn from the market since the start of the year, 191 of which were withdrawn in November 2012 alone. The research also revealed the number of savings accounts paying above BoE base rate fell by 304 accounts from January 2012, and 162 of these have been withdrawn since the start of November.
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Wednesday, December 05, 2012
UK Fixed Rate Savings Bond Interest Rates At All Time Low / Personal_Finance / Savings Accounts
By: MoneyFacts
Moneyfacts research reveals the average rate of fixed term bonds across every term from one year bonds all the way through to five year bonds has dramatically fallen to an all time low.
Wednesday, November 28, 2012
The Truth Behind Governments Funding For Lending Scheme (FLS) / Personal_Finance / Debt & Loans
By: MoneyFacts
The Government’s Funding for Lending Scheme (FLS) opened for business on 1 August with the number one aim of kick-starting the economy by making mortgages and SME lending much more accessible. To date, 30 lenders have taken up the offer of access to cheap loans.
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Wednesday, November 21, 2012
UK Government’s Funding for Lending Devastates Savings Market / Personal_Finance / Savings Accounts
By: MoneyFacts
Moneyfacts research reveals that the UK savings market is being decimated by the Government’s Funding for Lending Scheme (FLS), which allows lenders to borrow from the Government at vastly reduced rates, negating their need to raise funds via the traditional method of savings.
Tuesday, November 20, 2012
Halifax illustrates Cash ISA Savings Catastrophe, Which Best ISA Now? / Personal_Finance / ISA's
By: Nadeem_Walayat
Britain's savers continue to fight a losing battle to maintain purchasing power of savings following the financial crash of four years ago since which time savings interest rates have tended to languish below even the official highly suspect CPI inflation rate, that never reflects the rising cost of peoples weekly shops. Britain's whole savings market reeks of being a fraudulent enterprise that exists purely to transfer wealth from savers over to the banks and government (taxes). In which respect cash ISA's offered some hope to at least avoid the tax element of the stealth theft underway.
Saturday, November 17, 2012
The Most Important U.S. Tax Moves Before December 31 / Personal_Finance / Taxes
By: Investment_U
Alexander Green writes: In his acceptance speech after his re-election, President Obama said he will make reducing the deficit a priority in his second term. During the long campaign, neither he nor Mitt Romney gave many details about how much they would cut from which programs. But Obama did make some very specific tax proposals.