The Sunday Times highlights the child trust fund fees rip-off; children are losing thousands of pounds on child trust funds because of sky-high fees that can be seven times higher than almost identical products elsewhere.
They also warn that tax doesn’t have to be fair; there’ll be outrage, but it won’t stop a giant tax grab from Rishi Sunak who, to be fair, seems to be keen on having an honest conversation with voters about the need to raise revenues.
It seems that Warren Buffett is buying Japanese stocks. The paper asks if your clients should join him, since the world’s most famous investor has taken a $6 billion bet on Japan’s five largest trading houses.
The Sunday Telegraph reports that advisers are telling people to pay capital gains taxes now before they increase; consequently wealthy individuals are selling off investment portfolios and second homes in fear of massive tax increases rumoured to be in the Chancellor’s autumn Budget.
It seems that more than half a million workers are at risk of being charged “double tax” on their pension savings if the Treasury pushes ahead with rumoured proposals to cull higher-rate relief.
Distressingly, there’s evidence that diligent savers who pay into their pension are at risk of retiring with a pot that is £130,000 short of what is needed to pay for care in later life.
The average care home stay lasts two and a half years, costing £86,710 for residential care or £118,170 for nursing care, according to figures provided by Laing Buisson, a health data provider.
Gulp.
According to The Mail on Sunday, the Government has confirmed that from 2028 the age at which people can access their pension money will rise from 55 to 57 – but it may go higher still.
Talking of which, they also reveal that a recent report calls for employers to provide greater assistance to those workers who want to transfer their ‘defined benefit’ pension plan into a scheme that they can manage themselves.
Post-Brexit Britain must stay a magnet for talent, wherever it comes from; Hong Kong citizens are coming to the rescue of the London property market – and they are coming here to live, not just to buy properties as an investment.
I quite liked this – “Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give.” (William A. Ward)
Keep safe, keep well, keep your distance.
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