The combined wealth of British households is up 13 per cent between 2016 and 2018 - with the average standing at £286,600. But it's not all about house prices. In fact, the bulk of the rise is thanks to private pensions rather than property inflation, according to the Office for National Statistics. And it says that despite plenty of election claims to the contrary the rich aren't getting richer - but does that claim stack up? On this week’s podcast, Simon Lambert, Lee Boyce and Georgie Frost delve into the figures and ask: is financial inequality growing? We look at whether a reader can retire at 58 with a £6,000 pension – but £420,000 in a savings account. Meanwhile, as Vanguard reveals details of its new self-invested personal pension is this now the best home for cheap and easy retirement savings outside of the workplace? And finally, away from the serious stuff, we ask do you have to pay inheritance tax on a stamp collection - and just how much do you need to hold in Premium Bonds to have a strong chance of winning a £1million jackpot prize.
Will this election really prove to be about Brexit? That issue was predicted to define the vote, but while each party’s Brexit stance will be at the forefront of people’s minds there are many other factors that now seem to be heavily influencing how the 12 December general election is shaping up. One of the biggest is the battle over the economy and our personal finances. There’s a sizeable difference between Labour’s tax and spending plans and those of the Tories. Meanwhile, the Liberal Democrats propose their own sizeable tax and spending rises but at less than half the Labour increase. So what do all these promises and plans mean for you? On this week’s podcast, Georgie Frost, Simon Lambert and Lee Boyce dig into the Labour, Conservative and Liberal Democrat manifestos to find out. What is the chance of any of their plans working? Will the tax rises pull in the money expected – and can the spending be used wisely? And what of the other things Britain needs to achieve? Is more housebuilding compatible with combatting climate change, protecting the environment and looking after the countryside – and what have beavers got to do with it?
Labour's election manifesto has been revealed and it involves a huge £82.9 billion spending spree – to be funded by a similar tax rise. It outlined a 45p income tax rate above £80,000 and to leave no one in any doubt about its intentions opted to call its new 50p level above £125,000 the Super-Rich Rate. On this podcast, Simon Lambert, Georgie Frost and Lee Boyce run through the main financial points of Labour's manifesto, with a look at all the parties' plans due at a later date after the Tory manifesto lands. The team also discuss the Conservative's bid to fend off an NHS winter crisis caused by pension taper rules that are forcing older doctors to avoid doing work so that they do not get hit with big tax bills.
As the lottery turns 25 (yes, that went quick), we find out what some winners did with their money, talk about what we'd do with a win, and ask if there is a better way to run a lotto? Plus, Simon Lambert reveals his confessions of a lottery mug at 25 years and counting.
What’s the best new or used electric car on the market, would buying your insurance on the day you need it drive up the price, and does London’s diesel-crunching ULEZ make sense? Those are the questions and more on this motoring special edition of the This is Money Podcast. On it, Georgie Frost and Simon Lambert are joined by deputy motoring editor Rob Hull to talk cars and money. First up, is our exclusive on how insurers are sneakily pushing up prices for those who buy cover close to when they need it - bad news if you want to choose and buy a car and then drive it away. The team also look at attempts to crack down on older petrol and diesel cars, such as London’s ULEZ. Simon argues that one of the key problems is not how good new electric cars are (albeit they are now pretty good) but the issue of buying second hand and the limited choice and consumer concerns. Meanwhile, Rob says that although a brand new electric car may be tempting to those committed to greener motoring, many buyers are likely to sit on their hands expecting a better choice of longer range vehicles to arrive soon.
Starting a sports team from scratch and taking them to glory: it sounds like something out of a computer game rather than real life. This week, assistant editor Lee Boyce and broadcaster Georgie Frost are joined by a man who recently helped start a new basketball team in Britain – the London City Royals. Just how do you go about starting a whole new team – or franchise – and get them off the ground? Jon Sawyer, who has an impressive CV holding senior positions at Disney, Hilton and Pret reveals all. Playing basketball in Britain is immensely popular, so can the basketball league here grow in stature? And will we ever seen the next big player in the NBA come from these shores? How does funding and TV rights work, what does it take to run a sports team day-to-day and can professional basketball help kids avoid the dangers of gang life?
It is a subject that makes fans boil with anger and ask: just how and why would any professional do it? Aren't they already paid enough for a job many of us would love to do? In the This is Moneyball season 3 opener, assistant editor Lee Boyce and broadcaster Georgie Frost tackle this tricky subject and are joined by someone who was swept up in the madness. Centre-back Moses Swaibu – a former Crystal Palace youth player – became one of the first names on the team sheet for Lincoln City in the late-2000s. However, he became embroiled in match-fixing as he slipped down to semi-professional level. For the first time, Moses candidly tells his story, how it unfolded, his regret and why a stint in jail helped him realise that he needed to make sure young players aren't tempted to make the same mistakes.
This is Money, with Georgie Frost, editor Simon Lambert and Assistant editor Lee Boyce. And in this episode: the clocks have gone back, winter is a coming…but are the burglars! So the team will give you the top tips on how to keep your home safe in the dark.
Also, they run through some of the consumer rights we get wrong and whether booking through a third party will affect credit card claims. Should you help your kids pay off their student loan or save for a house; and do you need a pension 'wake-up' call? Plus…we all love a good coin story but what about comic books?
What's the difference between loyalty and inertia? Do we get too little reward for the former and show too much of the latter when it comes to shopping and banking? That's the question Simon Lambert, Lee Boyce and host Georgie Frost tackle in the podcast this week. It comes as Tesco – one of the original loyalty scheme pioneers – revealed its new paid-for Clubcard Plus, costing £7.99 per month. Meanwhile, Nationwide Building Society has also announced it is scrapping its hugely popular loyalty savings accounts held by 1.6million people. Which are the firms and organisations the team feel some loyalty too - and what are the ones they stick with out of sheer laziness? And with another small energy firm going bust, should we in fact be staying 'loyal' to some of the established giants for peace of mind? Elsewhere, we look at a study comparing the costs of buying and renting a home claiming the former could leave you £350,000 better off: do we finally have conclusive evidence?
Neil Woodford's Equity Income Fund, which has locked in investors' money since June, will never reopen – the star fund manager has seen his empire toppled. Editor Simon Lambert, assistant editor Lee Boyce and host Georgie Frost, ask: what is next for investors and what lessons will be learnt? We also talk about where it went wrong and what it could mean for the investment industry. Elsewhere, we reveal what makes a 'comfortable' retirement – and what changes you can make to ensure that you are doing enough to secure one. We reveal whether you can find rare quarters from the US in your change while visiting. Meanwhile, a reader asks whether they need to come clean to their car insurer as they're about to tick over the mileage they quoted when they started their annual policy.