Finance in the News – w/c 19.08.19

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Short summaries of articles we think you will find useful from some of the weekend’s broadsheets.

FINANCIAL TIMES

“How AI will change the way you manage your money”
Data science is increasingly being used to compare products, find deals and give tailored guidance.
“The inheritance battle over which parent died first”
Lawyers say tragic case highlights the importance of estate planning.
“How inflation is costing you more than you think”
Small difference between RPI and CPI adds up to an awful lot over time.
“Keep active to live a fulfilling later life”
Traditional ideas of retirement seem — bizarrely — to appeal more to millennials.
“How to protect your most valuable asset — yourself”
If you had something in your house worth £5m, you’d insure it. So why not insure yourself?
“Four ‘money myths’ to be wary of”
Investors should be alert to false beliefs used to justify high charges.

THE TIMES

“‘How to hold your nerve should the economic storm sink the market”
Recession fears are growing, in Britain and elsewhere. Investors are worried — but James Coney has a plan for every saver.
“Bonds are the choice when rates are falling”
Investors are bailing out of poorly performing funds that are supposed to protect their money from a downturn, and instead are ploughing it into bonds.
“Cost of advice from an IFA can vary by 1,000%”
Getting financial advice could cost you £4,500 extra if you opt for the most expensive rather than the cheapest adviser, according to research for The Sunday Times.

THE TELEGRAPH

“’What to do with £10k: the ultimate plan for a 50-year-old investor”
The fourth in The Telegraph’s six-part series looking at how to invest £10,000 at different ages.
“The ‘magic money tree’ proposed by Jeremy Corbyn and US Democrats is a serious threat to our wealth”
Acolytes of Jeremy Corbyn and US Democrats are making public spending promises funded not by the traditional modes of taxation or borrowing but by something being called modern monetary theory, or MMT.
“Annuity rates ‘could hit rock bottom’ as gilt yields plunge”
Pensioners who take out an annuity are earning thousands of pounds a year less than previous retirees following a dramatic shift in interest rates in recent weeks.

THE GUARDIAN / OBSERVER

“Meet the people trying to save enough to retire by 40”
Followers of the Fire – Financial Independence, Retire Early – movement say it’s possible to amass enough cash to quit work and follow your dreams in mid-life.
“Britons indulge in surprise pre-Brexit house buying spree”.
British house hunters have launched a surprise August buying spree before the scheduled Brexit date, with new data showing sales reached their highest point since 2015 during the usually sleepy summer period.

MAIL

“Should I buy an annuity to cover care fees for my mum if Prime Minister Johnson is going to fix the system’s funding crisis?”
Steve Webb replies.

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