Plus: silent mental health crisis leaves the middle classes struggling to manage their money

Wednesday, October 9, 2019

Telegraph Money 

The week's most important personal finance news, analysis and expert advice, from pensions and property to investment ideas and savings tips.

The Telegraph take

By Stephanie Baxter Deputy personal finance editor

We’ve all bickered with our parents and grandparents about which generation has had it better. And when it comes to retirement, outrage about baby boomers having it all is rife.

Younger generations tend to look on their elders with great envy. On top of the generous triple-locked state pension, many baby boomers (those born between 1946 and 1964) could be receiving a full two-thirds of their final salary in retirement income.

Generation X – born between 1965 and 1980 – have fared less well but they could still have a decade or two worth of membership of a final salary pension.

But the younger generations have it good too. Auto-enrolment has allowed more than 10 million employees to build a pension pot which their employer contributes to.

And older women will argue that the gender gap has narrowed across the younger generations. Younger women now live in a world in which they, as well as men, can independently plan for retirement.

Millions of women born in the 1950s affected by the increase in state pension age lost their court battle last week, Many will retire as much as six years later than planned and face significantly worse retirement prospects.

Equality between the sexes is something to aspire to – but many of the affected women were not prepared for such a sharp increase in the state pension age. Luckily, it's not too late for some Fifties women to boost their payouts.

Find out more in the third part of Telegraph Money’s series investigating which generation has been the most lucky with money. We have already covered who's enjoyed the best investment returns and most quickly got onto the property ladder.

Find out about how to save for your retirement, and get tips and advice on the Telegraph website, where you can subscribe for just 2 a week. It's free for 30 days. Try it here.

 

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Moral Money

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'As a non-believer, should I get christened to receive my inheritance?' Read more and have your say here.

In the Moral Money podcast

Moral Money

 

Telegraph columist Lucy Denyer speaks on haggling on holiday and one wife’s secret cash stash. In our fifth episode, one listener wants to know if it's right to haggle too hard in a relatively poor country when you can afford to pay.

You can listen here, or subscribe for free on Apple Podcasts, Google Podcasts, Spotify or by searching for “Moral Money” in your preferred podcast app.

 

Investing

 

Fame and Fortune

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Alice Cooper: ‘I blew all my cash on coke. Luckily, my manager had hidden $2m'

 

Alice Cooper has a wild persona, but when it comes to money he is quite the opposite. Read the full interview.

 

Introducing City Intelligence

City Intelligence

In our brilliant newsletter, Ben Marlow, chief City commentator, will be sending you his sharp analysis of the day's biggest business story every lunchtime – for subscribers only. If you have a subscription sign up in My Account or if not, click here for a free 30-day trial.

 

Tax and pensions

Getting married for the tax breaks? It could take 128 years to pay off your wedding

Australia scrapped inheritance tax 40 years ago – but did it work?

Boris Johnson should scrap 'bizarre' quirk that lumps higher earners with 60pc income tax, IFS says

 

Buy-to-let tracker

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Use our new buy-to-let tracker to find out how much money you can make from property, including yields, tax breaks and mortgage rates.

 

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You have the last word...

Tony Iveson says of 'Why inheritance tax is here to stay, despite decades of Tory promises': "Some taxes seem reasonable and fair, some seem cheeky, and some look like theft, and then there is IHT."

Chris Elliot says of 'How much you need to earn to be able to work a four-day week': "Work as few days as you can afford. Stop buying stuff you don’t need. Enjoy your free time, they aren’t making any more of that."

Camilla McCloskey says of 'Boris Johnson should scrap 'bizarre' quirk that lumps higher earners with 60pc income tax, IFS says': "I put a large amount into my pension to bring me down under the threshold. It's barely made a dent in my take home but it's now building my pension rather than being siphoned off for even more wasteful government projects."

 

Contact us: to pose a question to our team of expert reporters, email moneyexpert@telegraph.co.uk. If you'd like a free financial plan, email money@telegraph.co.uk with the subject 'Give me a Money Makeover'.

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