Observations on the Financial World

The Big ‘Lies’ About Our Economic  Prospects By Grant Ellis In the spring of 2007 I hosted a conference for a group of insurance professionals. One of the most popular speakers was my old friend the economist Roger Martin-Fagg. He was his usual entertaining self, but took everyone by surprise by suggesting that the world economy was on the brink of a meltdown the like of which we had never seen before, and it was going to happen soon – probably within 12 months. Yes, he predicted the financial crash of 2008 a year before it actually happened. Now in Spring 2007 the world economy was doing very nicely thank you. Following three consecutive years of good growth, averaging 3.8% it was expected to fall only slightly in 2007 to 3.6%. Meanwhile the UK was doing pretty well too. House prices had risen from an average of £150,633 in January 2005 to £184,330 in May 2007 – a rise of 22.4%, whilst wages grew by an average of over 5% per annum between 2004 and 2007. Inflation on the other hand was

By Grant Ellis I n 1789 Benjamin Franklin said that there are only two certainties in life – death and taxes. We all seem happy to talk about taxes, but less keen on discussing, or planning for our ultimate demise. It’s as if by talking about it we are somehow tempting fate. But it can bring tremendous peace of mind not only to the planner, but also to their loved ones to know that a well thought out  programme  is in place for their eventual departure. Here are  7 good reasons why you shouldn’t put off planning for it - old or young. D ying without leaving a will  is  not   a good idea. If you  haven’t made  a will,  then  when you die, everything you own will be shared out according to the law instead of  in accordance with  your wishes. This could mean  your estate  pass es  to someone you hadn't intended – or that someone you want to pass things on to ends up with nothing.   For example, if  you’re not married and not in a civil partnership, your