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Binary Options Trading: Areas you need to know for you to make a profit

Investment

Sam Allcock

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8 August 2017

Binary Options Trading: Areas you need to know for you to make a profit

Binary Trading

Binary option is a simple trade instrument to trade price fluctuations in multiple global markets, but a trader needs to understand the risks and rewards of this trading instrument. Binary options are different from traditional options. If traded, one will find that these options have different pay-outs, fees and risks, not to mention an entirely different liquidity structure and investment process.

What Are Binary Options?

Binary options are classed as good options, and are extremely simple to use. The most common binary option is a “high-low” option. Providing access to stocks, indices, commodities and foreign exchange, a high-low binary option is also called a fixed-return option. This is because the option has an expiry date/time and, something called a strike price. A trader who wages incorrectly on the market’s direction loses her/his investment.
If a trader believes the market is rising, she/he would purchase a call. If the trader believes the market is falling, she/he would buy a put. For a call to make money, the price must be above the strike price at the expiry time. For a put to make money, the price must be below the strike price at the expiry time.

High-Low Binary Option

For the common high-low binary option, the trader buys a binary call option if he thinks the price of the underlying asset will go up above the current market price or if he thinks the underlying asset price will go down, then he will buy a binary put option. If his assessment is correct, he will receive a pay-out. Otherwise, he loses the initial investment.

As binary options have fixed returns, it doesn’t matter how high or how low the price of the underlying has moved past the strike price. The pay-out is also fixed and known prior to entering the trade. Also, an important fact to note is that the pay-out for a successful binary trade is usually only about 70% to 80% of the investment put into the trade.

Binary options also typically have very short expiry times ranging from as fast as 60 seconds to just a few weeks.

Other Types of Binary Options

Other types of binaries include “one touch” binary options, where the price only needs to touch a specified target level once before expiry for the trader to make money. There is a target above and below the current price, so traders can pick which target they believe will be hit before expiry.
A “range” binary option allows traders to select a price range the asset will trade within until expiry. If the price stays within the range selected, a pay-out is received. If the price moves out of the specified range, then the investment is lost.
As competition in the binary options space ramps up, brokers are offering more and more binary option products. While the structure of the product may change, risk and reward is always known.

How to make money with binary trading?

One can make money in binary options. The easiest way is to use a binary options robot, such as OptionRobot that will automatically analyse the markets and make accurate predictions for you. This is fully automatic and comes with a success rate of around 80%.
At this moment, the most reputable binary broker where one can make money by using proper strategy is HighLow. HighLow has a pay-out rate of 88% and is the most commonly used strategy with licensed and government approved traders. Thus, HighLow is a safe and fair investment strategy.

Changing Trends for the London Restaurant Industry

Elliot

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7 August 2017

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Changing Trends for the London Restaurant Industry

London is home to a smorgasbord of delectable cuisines. A cosmopolitan destination of epic foods from across the subcontinent, European capitals, and North Africa. London ranks among the crème de la crème of fine dining destinations, foremost among its high-class areas is St. James situated snugly south of Piccadilly. This aristocratic haven has won the hearts and minds of international travellers and Londoners.

From spirits and wine, to fish and chips, St. James is home to it all. For the intrepid explorer, St. James and greater London provide variety in abundance, with fine restaurants, eateries and pubs peppering the landscape. The likes of Quilon, Roux at Parliament Sq., Caxton Grill and Emmeline’s Lounge rank highly with food connoisseurs. Of course, the listing of premium-grade restaurants is extensive and all-encompassing.

Recently a major restaurant upgrade took place in St. James Market when Oxford Properties and the Crown Estate signed off on a joint venture. The £400 million deal will significantly upgrade the area between Haymarket and Regent St., St. James. Half an acre of prime real estate is being developed for 7 new restaurants, a Smeg & Swiss cycling store, and many other brands.

Massive New Investments in London Restaurant Industry

World-class chefs at the Aquavit restaurants will feature Emma Bengtsson – the executive chef of the Manhattan-based Aquavit franchise. She will be working alongside Henrik Ritzen from Mayfair’s Arts Club. In St. James, it’s horses for courses – high-class dining all the way. Restaurants like Veneta are slated to be incredibly popular, with opulence, charm and old-school appeal. These exotic European establishments will feature fine wines, cheeses and specialty desserts.

The St. James client roster includes a modern international demographic with an average age of 36. St. James features restaurants like 45 Jermyn St., Chutney Mary, and Estiatorio Milos. These glamorous enclaves are part and parcel of a massive £500 million capital injection courtesy of The Crown Estate. Many of the landlords in the bustling hubbub of London are looking to establish themselves in a unique way, but they end up partnering with conglomerates and chain stores to further expand London’s fine eateries. St. James remains a central locale for foodies, and for good reason.

New Businesses Seeking Commercial Kitchen Space in the Capital

The London restaurant scene is a hive of activity. Despite Brexit-related concerns, the food industry has proven resilient with positive growth trends. Entrepreneurs are increasingly turning to fellow professionals to establish their food enterprises. With space at a premium, and the prohibitive cost of establishing a fully functional kitchen, alternatives are being sought by restaurateurs.

Kitchen space in London is highly desirable, notably with high-end establishments. All successful restaurants are grounded in high-quality commercial kitchens. Stylish kitchen companies like Foodstars are now supplying kitchens to members for a month or more. They cater to restaurants, retail, caterers and other large establishments.

Flexible kitchen hire plans are coming into their own as a cost-effective way of establishing a business enterprise in this lucrative industry. Typical kitchen sizes range from 400 ft.² upwards with full compliance with health & safety standards, and the most ergonomic designs. UK food entrepreneurs are part of a new breed of London capitalists seeking to satiate the taste buds of their patrons with delectable culinary treats. London’s beer and wine industry is alive and well, and many transatlantic chefs and entrepreneurs have relocated to the country’s capital to set up shop and cater to patrons.

One such food brand is Jarr Kombucha. A mouth-watering selection of cocktails explains why this taste sensation is all the rage with foodies. Founded by Californian Adam Vanni, Jarr Kombucha is but one of many London-based restaurants that is hitting its straps with customers from all parts of the world. Foodstars has started a new trend by renting out commercial kitchens, and London is at the heart of this delectable new offering.

Turning Content Into Cash With Digital Marketing

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2 August 2017

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Turning Content Into Cash With Digital Marketing

It is estimated that the amount of accessible content across the Internet will increase by 500% by the year 2020. This underlines the value of content in the digital age, and the role that it plays in the contemporary world of marketing.

It is crucial that you are able to optimise your content if you are to successfully achieve your marketing objectives, however, and ultimately realise a desired ROI. This also creates an opportunity to effectively monetise your content, by establishing it as a tool that can successfully convert potential customers.

In this post, we will explore this in closer detail and look at three steps that will enable you to make the most of your content:

Understand the Needs and Wants of Your Audience

Advertisers have historically relied on demographic data when segmenting their audiences, and this remains a prominent practice to this day. What has changed is the precise types of information that are used, however, with today’s brands now having to access to behavioural data-sets that inform far more effective decisions.

More specifically, behavioural data can delve far beyond traditional demographic metrics such as age and gender, revealing long-term consumption patterns and the precise types of content that individuals are likely to engage in. This, in turn, enables you to develop a far greater understanding of your customers’ precise wants and needs, which remains the Holy Grail for any brand or marketer.

With this in mind, leveraging such information makes it far easier to determine the types of content that you create for specific customer segments, while it also helps you calculate the optimal time for publication.

This will only serve to optimise the levels of engagement that you are able to generate, while hopefully improving conversion rates and the ROI on your marketing spend.

2. Hone Your Content With Google’s Autocomplete

Whenever you use Google’s Autocomplete feature, there is always a temptation to treat it like something of a novelty. As with most of Google’s features, however, there is far more to it than meets the eye, and it remains an innovative tool that can help you to create relevant, engaging and ultimately shareable content.

Introduced in 2008, Google’s Autocomplete emerged with a simple premise. More specifically, users would have their initial search terms automatically completed by Google, using data that has been leveraged by other people’s searches.

Not only does this reduce the amount of manual typing that is required, but it can also provide you with inspiration when establishing content ideas or headlines. By entering a researched keyword or search term that you would like to base your content on, you can generate popular and topically relevant ideas that are likely to resonate with readers.

3. Ensure That Your Trigger the Optimal Response

Hopefully, the deployment of engaging and relevant content will help to increase lead generation for your business. Converting these remains crucial if you are to successfully optimise your marketing ROI, however, and this will rely on your ability to trigger the right response among audience members.

There are many ways that you can measure engagement rates among your customers, but there are also general rules that can be used as a guide. Gartner says that digital marketers who are successfully engaging customers should see their content receive a response rate that is at least five-times higher than non-targeted messages.

Ultimately, triggering the optimal response will require the perfect balance between content, timing and channel, particularly with the most impactful and emotive conversations often occurring in real-time.

This is why social media platforms like Twitter and Facebook are established staples of any digital marketing campaign, as they allow for live interaction and conversations with potential customers.

Prescription drug addiction levels rise by 22% as cost per hit ten times LESS than Heroin

Health

Sam Allcock

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1 August 2017

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Prescription drug addiction levels rise by 22% as cost per hit ten times LESS than Heroin

Data released by the UK Addiction Treatment (UKAT) Centres shows that at current levels, addiction to over the counter drugs could overtake Heroin, and because buying painkillers over the internet is ‘budget-friendly’, the number of addicts will continue to rise.

In the last 2 years, admissions across their 6 UK-wide treatment centres for Codeine and Benzodiazepines addiction has risen by 17%, and by 22% since beginning of operation in May 2014.

Therapists at UKAT are concerned that not enough people are aware of the warning signs when it comes to over the counter drug addiction, and that already stretched GP’s could do more to ascertain the dangers of repeat prescriptions.

They also flag another huge contributing factor to the rise in painkiller addiction; cost.

When Doctors no longer issue repeat prescriptions, those addicted take any action required in order to get their fix- mostly turning to buying them off the internet.

The street value of Diazepam, per pill, is less than £1, whereas a 0.1g bag of Heroin is ten times that at £10 per hit. However, because of the potency of Diazepam and other Benzo drugs, tolerance increases at a much faster rate than that of ‘hard’ substances, resulting in overuse and addiction.

In the last 6 months alone, UKAT has admitted 48 people for either Codeine or Benzodiazepine Addiction, compared to just 26 for Cannabis and 17 for Gambling/Gaming Addiction.

UKAT admits 140 addicts for treatment per month, 6% of which are for over the counter drug or prescription drug addiction.

When in treatment, those with addiction to pharmaceutical drugs can typically take between 4-6 weeks to become ‘clean’, whereas someone misusing Heroin can be safely off it within half the time. Experts at UKAT say that this is because of the intensity of the drug and the severe side-effects experienced when treating over the counter and prescription drug addiction.

Eytan Alexander, founder of UK Addiction Treatment Centres, believes that until people’s mindset changes about prescription and over the counter drugs, the number of those addicted will continue to rise.

“People believe that if they’re prescribed a drug or if they can buy it in their local corner shop, then they’re not an addict.

“We still admit people into our treatment centres who remain completely unaware that they have an addiction problem to Codeine or Benzo drugs, because they get them from their doctor, making it completely legal.

“The fact of the matter is that in most cases, the recommended dosage and length of time of consumption is exceeded, meaning that person is now a drug abuser, regardless of the ‘legality’ of the drug in question.

“We know through our own treatment and therapy practices that most addicts are forced into continuing to take Codeine or Diazepam, for example, simply to cope with the horrific side effects of going cold turkey. And because a person’s pain is subjective, requests for repeat prescriptions aren’t challenged or explored anywhere near enough, and that now ‘addict’ continues to fly underneath the radar.

“It’s currently a hugely vicious cycle but, with support from the newly-elected Government, one that we can break with better education, advice and support.”

Now is the Time to Apply for Credit Financing

Sam Allcock

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1 August 2017

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Now is the Time to Apply for Credit Financing

The current economic climate in the United Kingdom requires stakeholders to act before rates rise. Recently, the Bank of England (BOE) indicated that there has been an increase in credit utilisation in the UK. According to the Bank of England’s Alex Brazier, there has been a 10% uptick in personal loans, car loans, and credit card balance transfers in the United Kingdom. Household incomes in the UK have risen by 1.5%. The BOE recently instructed UK banks to increase their ‘capital cushion’ in the event of an economic downturn.

Banks are now required to beef up their capital reserves by as much as £11.4 billion over the next 1.5 years. This is a safeguard against defaults and an economic uncertainty. BOE governor, Mark Carney stressed that despite Brexit concerns, the UK economy is far better poised to deal with economic crises than it was with the global recession following the 2008/2009 financial crisis.

How is the United Kingdom performing post financial-crisis?

The aftermath of the 2008/2009 financial crisis was crippling for many countries, including the United Kingdom. However, it didn’t take long before the UK economy began to mend. The challenge came with the June 23, 2016 Brexit referendum. Britons voted by a margin of 52% – 48% to break from the EU, and this had dire repercussions for the UK economy. Since then, the macroeconomic picture has been plagued by volatility and uncertainty. On the one hand, rising inflation levels have resulted in increased caution with lenders, and sub-optimal productivity remains the order of the day.

Economists, strategists and analysts were recently polled by Business Insider about their concerns vis-à-vis the UK economy. Many analysts are worried that inflationary pressures are the single biggest bugbear for the UK economy. Currently, inflation is at a multi-year high, despite plunging from 2.9% in May to 2.6% in June. The price of goods and services remains at high levels, well above the BOE’s target rate of 2%. On a parallel path is the performance of the GBP. A declining GBP is associated with higher import costs and increased exports. Consumer demand is down, and pending the outcome of the Brexit negotiations, could move lower.

Interest rates and their impact on personal and business loans

On Main Street, they are many concerns plaguing everyday Britons. These relate primarily to rising prices and falling real-money wages. Personal disposable income levels are lower, as wage growth remains weak. As such, a sharp uptick in personal and credit card loans has occurred. The BOE is determined to maintain financial stability in the UK, by watching credit expansion. The interest rate dilemma faced by the BOE is an interesting one. On the one hand, the central bank must combat rising inflation by way of interest rate hikes. On the other hand, the BOE cannot afford to squeeze consumers with higher interest rates. Since savings rates in the UK are low, and credit usage is high, the net effect on the UK is bearish.

The UK’s interest rate hasn’t risen in 10 years, meaning that some 8 million UK citizens have never experienced an interest rate hike. UK businesses aren’t wasting an opportunity to capitalize on historically low interest rates. The looming threat of an increase to the bank rate has resulted in substantially more applications for loans. Businesses realize that there are inherent benefits in applying for loans early, when interest rates are still low. The current British interest rate according to the Bank of England is 0.250% and it has remained this way since March 2009. By comparison, the Fed rate is 1.250%, the RBA rate is 1.500%, the BOC interest rate is 0.750 percent and the ECB interest rate is 0.000%. UK employment figures have been responsible for increases in GDP, not productivity.

Business loan applications increase as rate hike looms

Reuters analysts expect that sterling weakness will factor into the inflation forecasts and drive prices higher over time. A BOE policymaker, Kristin Forbes remains hawkish on the monetary policy committee, but hers is a minority voice. Currently, the MPC is split on when to raise rates, and by how much to raise them. Now that the UK is preparing to break from the European Union, it becomes more important to plot a blueprint for monetary policy. UK businesses will carefully be eyeing policymakers like Forbes and other hawks for any indications that the BOE will raise rates.

Top tips to speed up your house sale

Property

Sam Allcock

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1 August 2017

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As homeowners, one of the most time-consuming and testing periods of our lives can be when we’re trying to sell our property. Generally speaking, securing a buyer is never swift and the time it takes to find one can also cost you a lot of money in the long run, with council tax and ongoing utility bills really adding up. Here at Vivo Property Buyers, we look at how you can take control of the situation and speed up your house sale. We hope that our advice will help you to move on to the next stage in your life and also save some valuable money too!

Seasonality

To avoid months of frustration, consider when you put your house up for sale. It is well-known that the best time to sell is during spring months when there are the greatest numbers of buyers looking for new property. This window is short, however, and during the summer months, the market slows considerably, with buyers being preoccupied with holidays and any parental responsibilities. This inertia is also apparent in winter due to seasonal holidays. So, if you are unable to market your property in spring, it may be worth waiting until autumn which is the second most active time to sell. Plus, with winter on its way, buyers often seek a quick deal in time for Christmas, you may want to sell my house quickly for cash. Interestingly, Boxing Day is when most people decide to sell their homes and look elsewhere, so ensure you have everything in place for a quick spring sale when most of the business is done!

Photography

Nowadays, the first ‘viewing’ of your property by potential buyers is mostly done online. Therefore, it is essential that you invest in quality photographs of your property that will incentivise a buyer into booking a formal viewing of your house. By advertising on online property sites, you’re essentially putting your house in the shop window, so ensure any images are flattering and highlight the perks of your property. You do not necessarily need to hire a professional photographer for this task but be aware that bad imagery can put buyers off and if users see that your property has been on the site for a long time, it may indicate to them that there is something wrong with your house.

Staging your home from a buying perspective

Once you have decided to sell, it is time to begin to turn your ‘home’ in a ‘house’ for someone else to buy. This means you should start preparing your property for a sale by presenting it neutrally and reducing the amount of ‘personalisation’ in your home. While it may be a sad thing to do, the way the property is showcased to the buyer can greatly influence their impression of the house and in turn whether they wish to buy it. Home buyers are looking for a decluttered and plain canvas for them to add their own personality too, so viewing a property full of idiosyncrasies can deter offers being made.

Kitchen appeal

A lot of importance is placed upon kerb appeal when selling your home. Common suggestions are to maintain your front lawn and ensure that there is a clear path leading to your front door. While this advice is sound, the quickest way to secure a sale is found inside your house, namely your kitchen! This room is often the most important to buyers and your most valuable asset. A contemporary, clean-looking kitchen will sway viewers into your favour, while a cramped and outdated kitchen can deter people from taking any further interest in your property. So, if you have a budget to make home improvements prior to a sale we recommend investing in a modern, sleek kitchen as it can often be a deal maker!

Be a local expert

When you have people looking around your property, they do not know it as well you and may not know the area as well either. Purchasing a house is also a major life decision, so buyers will have lots of queries about your property and beyond. This is where, as a seller, you can be really proactive and preempt any questions and help sell your home. Inform them of the positive aspects of your home, such as a recently upgraded bathroom or close community spirit in the neighbourhood. Also, try to mitigate any concerns they may have about your property and help reassure them before issues have time to fester. You will probably be asked why you are selling the house, so ensure you have prepared an answer that will reassure the viewer too.

If the viewings will take place with an estate agent, perhaps prepare a small booklet on your home for potential buyers to take away with them. This extra step can really help inform buyers and make yours stand out and be memorable.

Know your buyer

A pertinent issue with any house sale is the dreaded property chain, which can grind any progress with a deal to a halt. Consequently, before proceeding with an offer from a prospective buyer you should try to understand where they are in the buying process. Ask them questions such as do they have a Mortgage-in-Principle and do they have a buyer for their property. If an offer is made by someone who is part of an extensive property chain, the sale of your house will be highly dependent on the sale of all the other houses in the chain, which could slow down and put your deal at risk of falling through. The ideal scenario is to sell to a first-time buyer (who is not part of a chain) or someone that has already secured a buyer for their own house and can proceed with a greater deal of certainty.

Be ready and set timelines

Before marketing your property, ensure you have a solicitor on board, this will save you a couple of weeks once you have found a buyer for your property. This is quite an important decision, so we recommend the following:

Use someone you have worked with before and who you have good experience with
Ask friends and family for any solicitor recommendations as well
Ensure you chose an open-minded solicitor who works in the same manner as modern day companies and not stuck in the past. This involves one that communicates via email rather than by post, this can cause huge delays!

Moreover, once a sale has been agreed, you should continue to be proactive until you have exchanged and it has finally completed. Immediately after accepting the offer, inform solicitors and set an exchange date to ensure that there is a timeline for the post-agreement processes to take place. Conveyancing is another procedure that commences after a sale has been agreed and is one of the lengthiest stages of the post-agreement process. We recommend using a company that holds a Conveyancing Quality Scheme accreditation (CQS) to put your mind at rest that you’re in capable hands.

You will also need to provide a lot of information during the conveyancing period, so prepare for that stage beforehand and put a folder together collecting the information which you pre-empty the solictors will ask:

Certified ID
Proof of address (from all registered owners of the property)
Gas safety certificate
Electrical certificate
EPC (Energy Performance Certificate)
Any guarantees which you have on the build or appliances
FENSA certificate if new windows have been installed
Water bills, other utility bills

We hope these tips help you to sell your house faster; maybe you’ve been on the market for what seems like an age or have found your dream home and want to sell fast. If you are struggling to secure a buyer for your property, an alternative is to sell to a professional property buyer such as Vivo Property Buyers. With

New Vaping Laws Have Been Enforced Soon, Here’s What to Expect

Health

ABC Staff

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1 August 2017

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New Vaping Laws Have Been Enforced Soon, Here’s What to Expect

2017 saw new laws around vaping be introduced. One E-cigarette company, Ecigwizard is calling the laws the biggest event since the launch of vaping products. But what exactly do the laws mean for vapers across the country?

Well, clearly defined labels will be mandatory

In the next couple of weeks, E-cigarettes will be controlled under the Tabaco and Regulated Products Regulations of 2016. Causing a direct impact on the way vaping products are bought and sold. Labelling will be strictly controlled, meaning toxicological data outlining the ingredients and health risks will have to be declared on all vaping products. Clearly defined labelling that states what’s inside the product is common practice in the tobacco industry, but this is the first time vapers will be given easy access to the exact contents of their E-cigarette.

Consumers could see changes to their vaping habits

The law has come as a response to the selling of large amounts of vaping liquid which contain high quantities of nicotine. Now the strength and quantity of the vaping liquid will be strictly regulated. Refill containers will not be allowed to exceed 10ml, and cartridges cannot contain more than 2ml. Vapers will no longer be able to buy 24ml e-liquids, this is a particularly high strength e-liquid that some people use to transition from tobacco to E-cigarettes. So, vapers who are used to buying high strength vaping liquids in large quantities will have to re-think their vaping habits.

Are the laws too strict?

Some criticise the laws for imposing harsh restrictions on people who are trying to quit smoking, and ignoring the benefits that vaping has for those wanting to wean themselves off cigarettes. If online sellers or high street vendors don’t abide by the new regulations they will be persecuted, and could even face a prison sentence. At least stricter regulations on ingredients and manufacturing mean vapers can be certain about the quality of the product, but there is still concern that the government are imposing stricter laws to discourage people from vaping all together.

Ecigwizard and the consumer

Director of Ecigwizard, Ben Potter –

With the TPD due to come into force by midnight tonight, we decided to ask our customers how the new rules will affect them.

While many acknowledged that the new regulations would cause them inconvenience they will ultimately adapt to what the market offers them.

Being a vaper myself, I have started to experience the annoyance of filling my tank far more regularly and finding hundreds of loose 10ml bottles rolling around in the car. However, the regulations have turned out to be far more soft than anticipated several years ago, so I will humbly accept that I need to fill my tank an extra couple of times a day.

It really could have been a lot worse.

Ecigwizard surveyed their customers in order to determine how it will effect the consumer. The results are below.

Tank size won’t effect 75% of those surveyed.

Nicotine strength won’t effect 95%

Bottle size (the one I thought would bother least) will effect a massive 45% of people

ICOBox Presents a Radical new Flat-Fee ICO Service Package

Business

Sam Allcock

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1 August 2017

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ICOBox Presents a Radical new Flat-Fee ICO Service Package

ICOBox, a pioneer in SaaS ICO solutions founded in 2017, has just announced its state-of-the-art Flat-Fee ICO Service Package. The new product significantly reduces the ICO preparation time (under two months, from start to finish), saves a great deal of money, and opens up the ICO market to a much wider audience.

The product will come in handy to projects looking to sell their products and services via tokens. As part of its new package, ICOBox offers technical, legal, and marketing services. Full details on ICOBox will soon be published at https://icobox.io.

In a nutshell, the Flat-Fee ICO Package is an SaaS construction toolkit for conducting ICOs. Regardless of the prospective ICO’s size, ICOBox’s price tag of 25-50 BTC, depending on the modules chosen, is very compelling. ICOBox might also be interested in buying up to 250-500 BTC worth of its customers’ tokens at a discount, which will also not hurt the sales.

“As ICOs explode in popularity, access to ICO technology and expert legal and marketing help is increasingly hard to find,” says Nick Evdokimov, ICOBox co-founder.

Although ICOBox will definitely be useful to blockchain companies interested in conducting their ICOs, its flat-fee services may also be attractive to a much wider circle of projects interested in finding novel marketing channels for their products and services. Until now, ICOs with their traditional turn-key approach may have been too expensive and lengthy for them to embark on. But with ICOBox’s expertise and support – and very modest fees! – this process is firmly within their reach.

What Brexit Could Mean For Your Retirement

Economics

ABC Staff

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27 July 2017

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What Brexit Could Mean For Your Retirement

According to research from Politico, 61% of Brits aged 65 and over voted to leave the European Union last June; by comparison, 75% of under 25s voted to remain. The media made much of this generational divide, with Time magazine quoting one elderly Leave voter as saying that “identity and culture are often defined not with reference to Europe” within his age group.

Regardless of the motivation behind their votes in favour of Brexit, pensioners and retirees could actually be hit extremely hard by the result of the referendum. Given that the particulars of Brexit remain closely shrouded in mystery, we’ve put together worst and best case scenarios for anyone entering retirement once Article 50 has been triggered, as well as some catch-all tips for making the most of your pension in an independent Britain.

Ways to make your retirement easier, whatever the outcome of Brexit

With the value of the pound in constant flux, a cash bonds alternative to traditional pensions may be worth considering; Forbes have recommended “holding individual bonds to maturity” in order to keep a running source of income throughout retirement. A number of companies also offer wine bonds for retirees instead of cash bonds, at higher rates. However, it’s essential to use wine brokers when considering fine wine investment; “no investment is foolproof, least of all wine investment” say The London Wine Cellar in their guide to fine wine investment.

Some experts have also suggested transferring pensions overseas, with FT Adviser reporting a 21% increase in inquiries on the matter following the Brexit vote. Ultimately, whether or not British pensions—along with any other savings—will take a dramatic hit following the UK’s departure from the EU remains to be seen. What is important is that retirees and savers continue to put some of their income aside so that their golden years can be as comfortable as possible, regardless of the confusion.

The worst case scenario

The budget cuts caused by the UK’s departure from the EU could mean that the horizon of retirement just got a little further away. It was reported last November that the state pension age for millennials could rise to 70—the current age is 68—with future economic changes potentially altering that further. Data from one pension consultancy firm states that this has left 75% of Britons with a retirement income below the level currently recommended by the government.

For those currently in or approaching retirement, the news is similarly doom-laden. A recent Aviva survey showed that roughly a quarter of 55+ year olds felt their financial security was “threatened” in the wake of the continuing post-Brexit economic turmoil.

Concern around pension deficits is also mounting. In the two months following the Brexit vote, the deficit hit a record high of £390 billion after rising by £80 billion, just in that time period. This could have a crippling effect on pension schemes for hundreds of British companies, which have already been struggling for the last few years under the former chancellor.

The best case scenario

According to the Financial Times, there may actually be little to worry about if you have already qualified for a state pension for a decade. Those retiring abroad may be harder hit than domestic pensioners, and one survey saw 84% of over-55s saying the Brexit result has left them less likely to move elsewhere to enjoy the autumn of their years.

The current government has also guaranteed that, for the next three years, the “triple lock” on state pensions—which ensure they rise at the same annual rate as whichever is highest of the consumer price index, 2.5% or the average wage—will remain in place, regardless of calls for it to be scrapped. Similarly, it has also been suggested that those approaching retirement age in the next few years may have their pensions less impacted by Brexit, as the markets are likely to have stabilised by that point.

What you need to know about child maintenance

Finance

ABC Staff

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25 July 2017

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What you need to know about child maintenance

It’s something that we hope we’ll never have to pay; child maintenance is the financial support that one parent provides for their child or children, in the event that they split up. It is usually a monthly arrangement and one that can get messy and uncomfortable, should the two parties fail to come to an amicable arrangement. Plus, it should be remembered that there are young people in the middle of the mess, already traumatised by their parents going their separate ways.

Here are some of the things to know when calculating child maintenance payments:

1) If both parties agree on the amount that will be paid, then there is no need to involve anyone such as lawyers or courts.

2) Should the two parties not agree, the Child Maintenance Service can help. It might even, in drastic circumstances, attempt to find one parent if they have disappeared.

3) There are a number of calculators online that can work out contributions from the paying parent, based on a number of factors. These include the number of children (living with the other parent and with you); benefits you may be receiving such as income support and pension credit through to Severe Disablement Allowance and Widow’s Pension; and perhaps most importantly your income.

The payment will also take into account how many nights the children will be spending with each parent, so stay-overs, weekend stops and holidays should be taken into account.

4) The calculator will give an amount to pay per month and year, and can also provide a platform for you to pay. If you pay directly there will be no fees, but if the fees are managed for you – through the Collect and Pay service – there will be an additional weekly fee. Fees, known as enforcement charges, can also be applied for non-payment.

5) There are five child maintenance rates based on income, ranging from parents who earn less than £7 per week to those who own up to £3,000 per week. If a parent is earning more than that in gross income, the other parent can apply for extra child maintenance.

6) There are three types of child maintenance schemes, although any arranged through the Child Support Agency (which is now closing down) will end in 2017, and revert to the latest Child Maintenance Service Model. If your arrangement was formed by the CSA, you’ll get a letter explaining the changes.

7) If you’re unhappy with the service, or believe there is a mistake in the amount that you are being asked to pay, then you can make a complaint (for perceived bad service) or ask for a recalculation, known as a dispute. Should you still disagree, you can take legal steps in the form of an appeal. This will go before the HM Courts and Tribunals Service, and is therefore an independent service. An appeal should be made within one month of the dated letter informing you of the decision. Should you still be unhappy with the service (eg poor computer service, late payments etc) you can write to the Independent Case Examiner.

8) Should you still be displeased, it is possible to complain to an ombudsman, to be made through an MP.

The system is by no means perfect, and often parents find loopholes such as this – where a multimillionaire found a way of paying just £7 a week for his son. In a perfect world, you’ll come up with a fluid, easy agreement and the payment will be set up and run quickly, with an amount that is fair to both parties and does not leave either struggling. Remember, the ultimate aim is to make sure the children involved are comfortable and receive a decent life thanks to both parents.

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