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What was in the money sections of the weekend’s papers? (29/11/2021)

Category: News

This is the perfect age to buy an annuity

This article from the Telegraph reports on a study by LCP. LCP are a firm of pension actuaries that currently employ former pensions minister Sir Steve Webb.

It suggests the perfect time to buy a guaranteed income using your pension money is 67.

We will have a blog post looking at this in detail later in the week.

Ways to check if your fund manager has gone rogue

The Times has a useful guide to what to look for to see if a fund manager is still able to deliver. It draws on the Woodford saga and how ill-fated fund completely changed its strategy, leading to its demise.

Whilst looking out for certain issues is all well and good the article forgets one thing. We are all human. Where a manager has made a load of money for us our brains often blind us to any obvious misgivings others might have. The solution is to have someone impartial to enable you to see the wood for the trees. A financial adviser is a very good example of one of these.

Succession’s plot twist prompts a surge of interest in leaving money in wills to Greenpeace

The Guardian covers how a recent episode of the American show Succession has led to many rethinking their wills. In the show a character finds his dreams of future wealth dashed when his grandfather announces he is giving away his entire fortune to Greenpeace.

Now Greenpeace is hoping to benefit in real life. Thousands of people have looked into leaving money to the environmental group since the show aired. Greenpeace UK gets around a sixth of its income from gifts left in wills. This year it expects to receive about £5.5m.

As well as the gift itself being tax-free, charitable gifts can also reduce the amount of inheritance tax that the rest of your estate will pay. If you give at least 10% of your taxable estate to charity, the inheritance tax rate for the rest of your estate drops from 40% to 36%.

All worth looking at although as always professional advice is key.

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