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...Pensions moved from third place last year to 2024’s second most popular choice, thanks to the chancellor increasing the annual allowance from £40,000 to £60,000 (see below)....
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...The stakes are just too high for someone with no pension provision losing a hard-earned £1,000 on a punt....
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...Of about 40,000 launches that year, a quarter lost 90 per cent of their value in the first week. Investors were burnt every time....
...That implies no escape from central banks having to provide an ever-ready backstop, de-risking public markets while taking more risk on to their own balance sheets....
...This offers a generous 25 per cent government bonus to under-40s saving or investing up to £4,000 a year towards their first property, or to access the money from age 60 to fund retirement....
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...In the 1970s, Japanese individuals owned 40 per cent of the Japanese stock market....
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...in the same way we choose a bank account....
...Today, they’d only need savings of £8,000 to hit it, and will have to pay 40 per cent tax on any further interest....
...I would say if you do only have like 18 months left in anyone’s term, then no, don’t overpay it but put it into a bank account, which will probably keep giving you about 5 per cent even net of tax....
...Morgan Stanley had been the “dominant” bank in block trades, and the business was making bucketloads of money — $1.4bn from January 2018 to August 2021....
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