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Sunday’s Money pages

The Sunday Times explores what the trust fund babies will really do when they get their thousands of pounds.

Many people worried that a windfall at 18 would lead to a generation of reckless teenagers, but one article today reports the opposite.

Another says we should not celebrate child trust funds: they failed.

We learn that Woodford investors are pushing for legal action; Link Fund Solutions, the firm behind the failed fund, faces being sued by thousands of savers.

There’s a ‘mea culpa’ from Ian Cowie, who admits that many of his share clangers have now turned into catastrophes.

The Sunday Telegraph investigates an interesting dilemma; what’s the best way for a 66-year old to invest a £160k inheritance to spend retirement travelling the world with savings accounts only paying around 1%?

They also report that wealthy pension savers have increasingly ditched the security of defined benefit schemes during the pandemic in favour of easily accessible pensions.

Should you and your clients be worried about Britain’s largest investment trust being under pressure for the cost of its borrowing? The £14bn Scottish Mortgage trust has been downgraded for double fees.

The Mail on Sunday reveals the £500 billion cost of ghost town Britain and the staggering hit to the UK economy in the next four years if workers stay away from office, according to a study by Douglas McWilliams, the former chief economic adviser to the CBI.

There seems to be a real danger of an increase in Will disputes as new findings from wealth management company Charles Stanley indicate that only 55 per cent of adults plan to split their wealth equally among their children when they die.

It seems that landlords and tenants are both in crisis: rental arrears have doubled and evictions are set to soar – so should interest-free hardship loans be given to renters?

“I made my money the old-fashioned way. I was very nice to a wealthy relative right before he died.” (Malcolm Forbes)

*Highlight text, right click and hit “search google” for more info on any of the featured topics*

Not a great forecast for the Bank Holiday, but please make the most of it and don’t be tempted to drop your Covid-19 guard; the last thing we want is another major lockdown.

Stay safe, and see you on Tuesday.

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