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Tag: plan

Brexit services plan will speed up relocation, says Lloyd's boss

Brexit services plan will speed up relocation, says Lloyd's boss

Business
Media playback is unsupported on your device The Lloyd's of London chief says the government's plan for relations with the EU after Brexit will speed up the departure of firms from the UK.Inga Beale told the BBC the White Paper would see the 300-year old insurance market go "full speed ahead" to set up its subsidiary in Brussels - and spur others on as well. Service sector groups say the plan will affect employment and is a "real blow".However, non-services groups were more positive.Services, including banks, insurance companies and investment firms, make up 80% of the UK economy and are one of its most successful exports to the EU.The government wants UK financial services in future to adopt a beefed-up version of a system already used by cer...
House of Fraser rescue plan to cost 6,000 jobs

House of Fraser rescue plan to cost 6,000 jobs

Business
House of Fraser (HoF) is aiming to cut around 6,000 jobs and more than half its stores under a plan to save the chain amid the crisis facing the high street The company, whose roots can be traced back to 1849, warned it did "not have a viable future" unless creditors and landlords backed its proposals.Its flagship store - on Oxford Street in London - is among 31 of 59 stores facing the axe.:: Is your local store closing? The full list of stores that will goSky News has previously reported on HoF's struggle to secure its financial future - culminating in Wednesday's plan to seek a Company Voluntary Arrangement (CVA) and avoid falling into administration.It said that in addition to its Chinese shareholder taking a 51% stake and injecting millions in new funding, House of Fras...
The 401(k) dilemma: Keep the plan at your old employer or roll it over to an IRA

The 401(k) dilemma: Keep the plan at your old employer or roll it over to an IRA

Finance
Here's a question for anyone who's about to leave an employer: Are you keeping your money in the retirement plan, or are you taking your savings with you?For companies that provide workplace retirement plans, that's a $ 9.2 trillion question — that's the number of assets held in individual retirement plans as of the end of 2017, according to the Investment Company Institute.These 401(k) record-keepers have a bird's eye view of employees' savings and they are in a prime position to contact plan participants about rolling over their balance into an IRA with them — which may not always work out in favor of departing workers."They will try to take you out of your 401(k) and put you into a suboptimal IRA rollover," said Anthony Isola, a financial advisor at Ritholtz Wealth Management in New Yo
Taking a year off at 38, with a plan to retire at 48

Taking a year off at 38, with a plan to retire at 48

Finance
Planning young: a retirement roadmapApril 20 is Scott Sherman's 38th birthday. His gift to himself? Quitting his 9-to-5 job for a year. Even though Sherman is on track to retire early — he anticipates reaching financial independence by 48 — he wants to start living on his terms now. So he's taking up to a year off to live at a slower pace, volunteer, spend time with his kids and consider his next move. "I could stay doing what I'm doing now and be comfortable and probably bored," says Sherman, who works in IT administration at a university in Utah and writes about his journey toward financial independence on his blog. "Or I can do something scary, spend a little money and figure out how to spend eight hours a day doing something I'm really excited about." Sherman and his wife have been p
Here are the biggest reasons every entrepreneur should have a financial plan

Here are the biggest reasons every entrepreneur should have a financial plan

Finance
I understand the attraction and challenges of entrepreneurship. I am also acutely aware of how financial planning for entrepreneurs is different. In college I went to Mexico to study Spanish and paid for most of the cost by buying American candy in bulk and selling it to other students. In my working career I've spent more time working for myself than working in a corporation.Financial planning for entrepreneurs can be more difficult. But being an entrepreneur has many payoffs. Retiring years before "normal" retirement age, starting another business or only working on things that are really interesting to them personally are all things clients who have entrepreneurial goals can achieve. But you need a financial plan to attain those payoffs.Planning in the early stage of an entrepreneurial ...