A lot has been said about the importance of saving for retirement but have you ever thought about starting a pension for your kids? A child could become a millionaire by their 43rd birthday if you save £240 a month into a pension for the first 18 years of their life, according to new research. After that, you simply allow investment returns to do the rest. These contributions, which amounts to £2,880 a year - the maximum yearly contribution limit - could create a nest egg of £1,021,837 by 2061 after investment fees have been deducted, the study by wealth manager Brewin Dolphin suggested. But your child will need to get lucky with investment returns and make a hefty 8 per cent a year from the stock market. Making monthly contribution of £240 in a pension for the first 18 years of your child's life could result in a nest egg of over £1million according to research by Brewin Dolphin The calculation is based on a total contribution of … [Read more...] about How to make your child a pension millionaire by age 43
Are 0 balance transfers a good idea
When an IRA beats a 401(k) for your retirement savings
If asset growth rates were a race, individual retirement accounts could soon be lapping 401(k) accounts. Assets added to IRAs are set to grow to nearly twice the amount of assets in 401(k) retirement plans over the next four years, according to a report released by Cerulli Associates, a retirement industry consulting and research firm. What's behind the faster growth of IRA assets? Rollovers from 401(k) plans. Workers and retirees are opting to transfer their assets out of a 401(k) or other employer-sponsored retirement plan and into an IRA because the former lack flexible withdrawal options such as ad-hoc withdrawals. Individuals request to take distributions from retirement accounts for variety of reasons. And those reaching 70 1/2 are required to take minimum distributions beginning at that age and annually thereafter. So, when separated or retired plan participants need to withdraw from a 401(k) plan that doesn't offer flexible options, they'll typically transfer their plan … [Read more...] about When an IRA beats a 401(k) for your retirement savings
The making of a man: Trent Alexander-Arnold’s journey from Crosby to Kiev
Trent Alexander-Arnold was playing rugby. This was in a different life, some distance from Anfield – even further from Kiev. This was on a muddy field, where the green hills run down to the North Walian coastline. His physical education teacher at St Mary’s in Crosby can remember one of his first games. “He was a centre forward for the football team and a full-back in rugby,” recalls Derek Williams. “He scored lots of goals and lots of tries.” One of those tries came against Rydal in Colwyn Bay. A footballer first, he gave rugby a go because some of his talents were transferable. Initially, he was unsure of his responsibilities. “I told him full-back in rugby was like being a sweeper in football: ‘Stay in line with the ball and when you catch it, run with it and put it down behind those posts down there.’ That’s exactly what he did,” says Williams. “The first time he got the ball, he ran the full 80 metres. I was … [Read more...] about The making of a man: Trent Alexander-Arnold’s journey from Crosby to Kiev
AQA GCSE and A-level revision tips: An expert guide to dealing with exam stress
Many people are looking forward to the summer. But for young people it also means exam season. After two years of hard work, GCSE and A-level students are currently undertaking their final revision as they sit their exams. And with new curriculums for both GCSEs and A-levels, the end-of-school tests are tougher than ever. But help is at hand. Whether you’re a young person or a parent, our colleagues over at the Hull Daily Mail have put together this handy guide to surviving exam season . Packed with tips on how to revise, advice on how to stay stress free, and even a chance to pit your wits against some of the questions which could appear in this summer’s tests. Here's everything you need to know. 17 tips on how to revise and stay motivated in exam season For many young people, one of the most daunting things can be how to start revising and preparing for their exams. Being well-prepared enables students to really show what they know, and give them the best chance of … [Read more...] about AQA GCSE and A-level revision tips: An expert guide to dealing with exam stress
Ambani’s Mobile Startup Packs 6-Month Sales Into a Quarter
A smartphone in India cost more than $200 just two years ago. Now you can get a decent phone for nothing but a refundable deposit of $23. Data packages are cheap, and a startup company even throws in free voice calls for life.For this, consumers can thank Mukesh Ambani, a 61-year-old petrochemicals titan who is the country’s richest man. From his perch overseeing Reliance Industries Ltd., one of India’s largest conglomerates, Ambani has plowed more than $38 billion into his wireless entry, Reliance Jio Infocomm Ltd.It’s a classic business disruption. Jio has quickly garnered 14 percent of a market that is expanding rapidly, putting pressure on other mobile phone providers.Along the way, virtually every promise Ambani made about the company’s performance in the marketplace has held up, from inexpensive Jio handsets to state-of-the-art wireless connections.But one claim merits a closer look: that Jio has been profitable virtually from its commercial launch. And … [Read more...] about Ambani’s Mobile Startup Packs 6-Month Sales Into a Quarter