Posted by: WealthIFA | February 25, 2011

Financial News Update we 25/02/2011

So, what have you been up to this week? I hope it’s been busy for you – in the nicest possible way of course!

Amongst other things, I presented at another Pre Retirement seminar. We had a good turnout and some interesting comments from the delegates as they venture towards what will be the longest “holiday” of their lives!…

I also had one of the most emotional meetings of my career with a client who is terminally ill and was looking to arrange her affairs for her heirs… Financial planning is a good idea at any stage but sometimes life really does seem unfair…

It would seem that the news about the means tested limit, for local authority assistance in relation to long term care, being frozen seems to have gone by relatively unnoticed at the moment but rest assured, as people do become aware of it, more and more may consider long term care funding a much more punitive “tax” than others such as inheritance tax.

Savers are now being warned to think carefully about locking in to rates beyond 12 months after it was announced by Mervyn King that we are likely to see at least a 0.25% rise in rates by the summer and, with 3 of the Bank of England committee now in favour of such a move, it looks like only a matter of time?…

This Week in the News…

Estate Planning

Call for urgent overhaul of the inheritance tax http://ow.ly/1btzqQ
Big four banks promise to review will-writing and executor services http://bit.ly/gU1060
Nigel Pargetter of The Archers made his tax plans – and so can you http://bit.ly/e6jEi1

Long Term Care

Baby-boomers ‘happy to share costs of long-term care’ http://bit.ly/egPs6J
Three-quarters of over-50s expect state to primarily fund LTC http://ow.ly/1brl3Z
Shortfall of 100000 care home beds by 2020; Bupa http://ow.ly/1bu6nw

Retirement

A warm Isle of Man welcome for pension pots http://ow.ly/1bonC0
Income from your Sipp http://bit.ly/g62f4w

Investments

‘Be fair’ to with-profits policyholders, says FSA http://bbc.in/gDJMks
Three Bank of England policymakers vote for rate rise http://bbc.in/gLmHHN

Have a great weekend!

Regards
Kieron

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