ICR 116: Financial tips for Brad & Angelina
In this episode of Informed Choice Radio, we get an investment market update from Ayesha Akbar, Portfolio Manager in the Fidelity Multi Asset team, and Martin talks about getting divorced and what it means for your money.
There is also a roundup of the latest personal finance news and an update from the world of Informed Choice.
Financial tips for Brad & Angelina
Unless you’ve been living under a rock, you would have heard the news this week that actors Angelina Jolie and Brad Pitt are set to divorce.
Jolie filed for divorce on Tuesday, citing irreconcilable differences. The Hollywood couple have been together for 12 years, married for 2, and have six children.
For this episode of Informed Choice Radio, Martin shares 6 financial tips for Brad & Angelina, or anyone else when going through a divorce or separation.
His six financial tips for Brad & Angelina are:
1 – Get an overview of your current financial position.
2 – Set a reasonable budget for divorce proceedings
3 – Don’t rush into making big financial decisions
4 – Think about the short, medium and long-term!
5 – Update your will and beneficiaries
6 – Ignore your well meaning friends
Also in this episode, Martin spoke to Ayesha Akbar, Portfolio Manager in the Fidelity Multi Asset Team.
Martin asked Ayesha about the outlook for volatility in the investment markets. Volatility has been relatively low during the course of the summer. Is this likely to last?
He also asked what are the main risks to the investment market outlook which needs to be considered right now?
Martin asked Ayesha what’s the current market outlook in light of these risks? Are there any particular market areas with good prospects?
And finally, Martin asked how does investor perception of emerging markets need to change?
Personal finance news update
-Uncertainty around the EU referendum didn’t have an impact on UK house buying, with a slight rise in transaction levels during August.
-A financial scam was committed once every 15 seconds during the first half of the year, according to Financial Fraud Action.
-The EU referendum result has created a “challenging period of uncertainty and adjustment”, according to the Bank of England.
-Withdrawing money out of pensions is leaving over 55s at risk of paying thousands of pounds in inheritance tax.
-Yorkshire Building Society is urging the Government to consider reforming stamp duty land tax to make it paid by sellers not buyers, removing the tax burden entirely for more than 225,000 people getting on the housing ladder every year.
-The US Federal Reserve kept interest rates on hold during its meeting this week.
Useful links mentioned in this episode
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