Analysis Topic: Personal Finance
The analysis published under this topic are as follows.
Saturday, April 06, 2013
Best Cash ISA Savings Account for New Tax Year 2013-14 / Personal_Finance / ISA's
By: Nadeem_Walayat
The new tax year commenced today, which brings a small reprieve for UK savers to at least protect themselves from the 20% to 40% theft (double taxation) on savings interest payments, even though that it is highly unlikely that any accounts will be able to beat the real inflation rate which tends to be about 1.5% above CPI or currently about 4%.
Thursday, April 04, 2013
Wealth Management Retirement Strategies to Reconsider / Personal_Finance / Pensions & Retirement
By: DailyGainsLetter
John Whitefoot writes: From home repairs, to fixing cars, to crafts, publishing, and decorating—in a do-it-yourself culture, nothing is out of bounds. Thanks to low interest rates and underperforming assets with terrible returns, many who are on the cusp of retirement are looking after their own retirement plans in an effort to boost their retirement income. Meanwhile, those already in retirement are looking for ways to sustain their savings.
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Thursday, April 04, 2013
Danger in Your Bank Account / Personal_Finance / Credit Crisis 2013
By: Alasdair_Macleod
The thinking behind GoldMoney’s business model was that there might come a time when prudent savers would want to protect themselves from the twin risks of a global banking crisis and a loss of purchasing power of paper currencies. The first of these two risks is now upon us, and it is important that everyone with savings to protect is aware of what is happening to banks and their bank accounts. By the time this is fully understood by the media it may be too late to act.
Wednesday, April 03, 2013
What Cyprus Taught Me About Retirement Savings / Personal_Finance / Credit Crisis 2013
By: DailyGainsLetter
John Whitefoot writes: In light of the events that occurred in Cyprus over the last couple weeks, many investors may be wondering if it’s safer to hide your retirement savings under a mattress. After all, what’s to say it couldn’t happen here?
In June 2012, Cyprus, like many members of the European Union (EU), sought a bailout after suffering heavy losses. The company’s banking sector was hit by the economic crisis that crippled Greece. Cypriot banks had made loans to Greek borrowers that were worth 160% of the country’s gross domestic product (GDP).
Wednesday, April 03, 2013
Santander Warning - How a UK Bank Deposits Freeze Will Happen! / Personal_Finance / Credit Crisis 2013
By: Nadeem_Walayat
Whilst Cyprus continues to come to terms with it's banking catastrophe that involves the extreme step of outright theft of depositor funds as the following real life example illustrates to what amounts to an 85% theft of this customers bank balance at Laiki Bank actually looks like -
Monday, April 01, 2013
What Cyprus Laiki Bank 85% Hair Cut Really Looks Like / Personal_Finance / Credit Crisis 2013
By: Money_Morning
We came across this story on the Lew Rockwell's Blog this morning. It's an example of how a picture paints a thousand words.
This is what an 85% haircut actually looks like:
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Wednesday, March 27, 2013
What Does 8% Inflation Really Mean? / Personal_Finance / Inflation
By: Don_Miller
Eight percent is not good news. In my latest article I shared some reader feedback from our inflation survey, and in case you missed it, the Money Forever Reader Poll Inflation Rate is 8%. But what does that number really mean for us – seniors and savers trying to protect our buying power? It's time to read the tea leaves and find out.
Tuesday, March 26, 2013
Santander 'Internal Server Error' Business Customers Locked Out? / Personal_Finance / Credit Crisis 2013
By: Nadeem_Walayat
The banks in Cyprus have been closed since 18th March with each proposed date for re-opening of the banks with strict capital controls being extended every few days as the Cypriot central bank enacts its policy to steal depositor funds to the tune of 40% of deposits of over 100,000 euro's in at least Cyprus's two largest banks.
Monday, March 25, 2013
Fed’s Actions Makes for a Retirement / Personal_Finance / Pensions & Retirement
By: InvestmentContrarian
George Leong writes: On the surface, the Federal Reserve’s objective is to make sure America doesn’t fall into ruins. Following an aggressive strategy of monetary easing, the end result is interest rates at nearly zero percent and an endless flow of easy money. As I have already stated many times in these pages, the Federal Reserve has created an artificial economy.
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Sunday, March 24, 2013
Cyprus Bankruptcy Contagion Financial Armageddon Risk, Santander Down for Maintenance? / Personal_Finance / Credit Crisis 2013
By: Nadeem_Walayat
Whilst Cyprus's banking system remains frozen and teetering on the brink of collapse with it's politicians literally battling to meet an eye popping deadline to agree to the terms of a euro-zone bailout, the consequences of failure should not be construed as just being limited to Cyprus as the whole euro-zone and even the whole of world's banking system is at risk.
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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