Love Finance: property, investments and banking
By Teamspirit on Thursday, 16 April 2015
Over 40s looking into Buy-To-Let in retirement
According to research from mortgage lender Kensington, around 53% of retirement savers would consider or are already investing in buy-to-let to increase their retirement income. 8% are already investing, and another 45% said they would consider it.
This is a significant data set, as it shows that those looking at their retirement income solutions are finding the holes and filling them with new opportunities. Buy-To-Let can be a reasonably lucrative and potentially low-impact investment, and while rent hikes are an issue, at least in the capital, it's a positive thing to see those planning for retirement more proactively.
We love that future retirees are not going to want for retirement income, and that the increasing numbers of those investigating their various opportunities are going to enjoy a more comfortable post-employment lifestyle. Of course, this is especially valuable in a climate that brings this concern to the forefront of many financial services conversations.
Singapore Govt-Backed FinTech Accelerator Boosts Bitcoin StartupsStartupbootcamp FinTech announced on Monday that ten finalists will be joining its Singapore program, three of them bitcoin startups. With this move, the Singapore government has demonstrated its ambitions to become Asia's bitcoin tech hub.
We love that fintech is being given another boost, and not just fintech, but bitcoin - an interesting area of currency that continues to fluctuate in both value and usage. While it's a highly unstable currency, the concept of global and crypto-currencies is one to keep an eye on.
University College launches pension transfer qualificationA new pension transfer qualification has appeared on the horizon at ifs University College, the financial education organisation. Those dealing with transfers out of defined benefit schemes are now only to be undertaken by advisers with the qualification.
Martin Day, the Vice Principal of Banking, Finance and Regulation, said that "access to high quality professional advice on pensions has always been important for consumers but the recent reforms mean it is now more vital than ever. With greater freedom comes greater risk and it is essential that advisers have the advanced knowledge and understanding to be able to make appropriate recommendations."
We love that the qualifications represent part of industry-wide reforms and a greater push towards education for intermediaries. It grants them new skill sets to offer to clients, and gives clients more confidence in how well their finances are being handled.
World Bank reports big drop in no. of unbankedThe number of those without a bank account has dropped by a staggering 20%, reports the World Bank, with 700 million joining the formal banking system between 2011 and 2014. This takes the percentage of adults with a banking account from 51% to 62%.
We love this statistic, as it means hundreds of millions of people over the last few years have now gained access to a bridge out of poverty through the financial support of having access to a bank account. While 62% is still some distance from the ideal, it's a huge step in the right direction, when you think about that 11% being 11% across the entire world's adult population.