offshore-finances.com

Offshore accounts and pensions allow people more diversity with their savings, according to Shelter Offshore.

The expat advice publication said that traditional onshore pensions are often not the best way for people of retirement age to make the most of their money.

It highlighted the need for the correct financial advice to deal with both "shorter term objectives as well as your long-term pension planning objectives".

"You can diversify so you avoid being tied to ever falling annuity rates – as onshore pensions savers are – and you can avoid being trapped in one scheme or on one path towards your retirement income," the news provider said.

Moving funds to a qualifying recognised overseas pension scheme was also suggested for retirees who are no longer resident in the UK.

Pensions expert Ros Altmann recently commented that too few people nearing the age of retirement have placed enough funds in savings accounts and pensions for their later years.

She suggested that there has not been enough encouragement for people in the UK to save.

Posted by Andy Price.

Not enough people have been given the level of financial education needed on subjects such as overdrafts and savings accounts, according to one expert.

Ed Bowsher, head of consumer finance at lovemoney.com, said people as young as school-age should be taught about the importance of looking after their money.

"I fear that many people with overdrafts just don’t understand the damage a 19 per cent interest rate can do," he explained.

Mr Bowsher added: "Schoolchildren should be shown how your finances can quickly spiral out of control if you’re paying high interest rates."

The comments come shortly after a pensions expert said that many people nearing retirement age have failed to place enough money aside in pensions or savings accounts for their later years.

Ros Altmann recently said that some pensioners are in denial about the savings which will be needed for their retirement.

She added that there has not been enough encouragement for members of the population to save.

Posted by Tom Britten.

Many people of retirement age have failed to place enough money in savings accounts and pensions causing them to struggle financially, it has been reported.

Pensions expert Ros Altmann said that the issues regarding financial planning are extremely complex and more advice and guidance should be available.

The comments come following the release of statistics by internet pawn broker Borro.com, which claims to have seen a 160 per cent increase in the number of pensioners using their services in the past 12 months.

Ms Altmann said that there are a number of factors affecting the lack of funds being saved.

"Partly, they are in denial but also partly millions of people have been lulled into a false sense of security by pension forecasts that have failed to materialise," Ms Altmann explained.

She added that there has not been enough encouragement for people nearing retirement age to save.

Those who believe they are stuck in a position without savings were advised to consider their options carefully and understand "what the risks and realities" are.

Posted by Charles Mackay.

Investors would be better to place their funds in more reliable places such as international savings accounts than US property in the current economic climate, according to an expert.

Andrew Bartlett, owner of Andrew Bartlett Florida, said that those who invest in property in US at the moment are unlikely to see good returns. He explained that "Brits should be concerned if they are investing anywhere overseas".

Mr Bartlett added that the current exchange rate between the pound and dollar is also acting as a deterrent to investors.

According to the latest Schiller House Price Index, average property prices in the ten-city-composite average were down by 2.4 per cent year-on-year in December 2009.

The news follows a report from the Financial Times which reveals that those who regularly search around for the best deal on savings accounts could have made returns of 70 per cent over the past few years.

It claims that this rate "outperforms" the returns made from investment in shares.

Posted by Andy Price.

One in seven Brits has never placed their money in a savings account, new figures have revealed.

A survey of UK residents by National Savings and Investments (NS&I) found that 15 per cent of people have never put any money by.

In addition, it was revealed that many do not begin to put funds aside until their 30th birthday and 13 per cent waited until they were 40 or older. The average age to begin saving was 25.

John Prout, of NS&I, said that it is important that people view saving as a long-term commitment.

"It is important not to see savings as just a reaction to major events. Our research shows that 32 per cent of savers say that they have saved in the past but have not managed to continue putting money away," he explained.

Almost one-quarter of those surveyed admitted that they wished they had saved more to deal with the current economic climate.

Moneynet.co.uk said recently that those looking to make their most of their money should look beyond instant saver accounts to a more diverse range of products.

Posted by Chris Moore.

The USDJPY has fallen on the weaker housing data.  The data is just not good and with the winding down of government purchases of mortgage securities, one has to wonder how bank lending will proceed going forward.  The low for the day was 89.01. The low from yesterday afternoon after the move higher off the low came in at the 89.04 level. This area will now become upside resistance for the pair.  The low yesterday at 88.79 area needs to be broken on the downside to confirm … [visit site to read more]

Conseco, Inc’s (NYSE:CNO) fourth-quarter operating earnings of 15 cents per share were a nickel short of the Zacks Consensus Estimate of 20 cents. The results were also down 16.7% from the operating earnings of 18 cents in the year-ago quarter.
 
Though results for the quarter were significantly impacted by charges related to accruals for regulatory settlements and the extinguishment of debt, overall sales were up by 18% over the prior-year quarter due to the strong performance of … [visit site to read more]

Virgin Media Inc. (NASDAQ:VMED) declared financial results for the fourth quarter 2009. Quarterly total revenue of $1,538 million was up 11.8% year-over-year but fell below the Zacks Consensus Estimate of $1,560 million. The year-over-year increase in revenue was primarily due to significant growth of the consumer cable segment. 
 
Net loss, in the fourth quarter was $148.2 million or 46 cents per share compared to a net loss of $274 million or 83 cents in the prior-year quarter. However, … [visit site to read more]

The “Morning News Notes” as prepared by TL…Q4 GDP, Bernanke and the deficit, California’s budget and healthcare.

Just click on the link or the coffee mug below.

“Morning News Notes”: February 26, … [visit site to read more]

The high for the USDJPY was on Monday at the 91.89. The low occurred yesterday at the 88.79 level.  The price moved below the 100 hour MA at the 91.19 level on Tuesday, the trendline and 200 hour MA on Tuesday.  Consolidated on Wednesday at the 100 day MA (at 90.16) and moved lower Thursday.  Now the market is consolidating once again as the week comes to a close.
The Yens demand has come off the flight to quality bid as a result of slower global growth and the Greece … [visit site to read more]