Fifty-five-year-old Andy Williams from Fife plans to retire in 10 years – and his first move will be to withdraw all his money from his pension fund. He doesn’t want to spend what he estimates will be £40,000 on a fast car or exotic holiday; instead he wants to use the money to improve the care for his wife, who suffers from MS, and the lives of his four daughters. “My pension has been very disappointing and was never going to provide an adequate income for me and my wife in retirement,” he says. Five hundred miles further south, 57-year-old Sheila Price, a production accountant in Hastings, has two pension pots with a combined value of £280,000, nearly eight times that of Williams’s fund. But, like Williams, she also plans to withdraw a big chunk from her pension fund in the next few years and shun annuities. She will use the money to pay off a credit card and perhaps fund a career change. “I believe we should have the right to choose what … [Read more...] about UK prepares for pensions spending spree – but is that the best long-term plan?
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The great criticism of Mitt Romney, from both sides of the aisle, has always been that he doesn’t stand for anything. He’s a flip-flopper, they say, a lightweight, a cardboard opportunist who’ll say anything to get elected. The critics couldn’t be more wrong. Mitt Romney is no tissue-paper man. He’s closer to being a revolutionary, a backward-world version of Che or Trotsky, with tweezed nostrils instead of a beard, a half-Windsor instead of a leather jerkin. His legendary flip-flops aren’t the lies of a bumbling opportunist – they’re the confident prevarications of a man untroubled by misleading the nonbeliever in pursuit of a single, all-consuming goal. Romney has a vision, and he’s trying for something big: We’ve just been too slow to sort out what it is, just as we’ve been slow to grasp the roots of the radical economic changes that have swept the country in the last generation. The incredible untold story of the … [Read more...] about Greed and Debt: The True Story of Mitt Romney and Bain Capital
US President Barack Obama on Tuesday delivered his State of the Union speech in the US Congress. Here's the transcript: It's no secret that those of us here tonight have had our differences over the last two years. The debates have been contentious; we have fought fiercely for our beliefs. And that's a good thing. That's what a robust democracy demands. That's what helps set us apart as a nation. But there's a reason the tragedy in Tucson gave us pause. Amid all the noise and passions and rancor of our public debate, Tucson reminded us that no matter who we are or where we come from, each of us is a part of something greater -- something more consequential than party or political preference. We are part of the American family. We believe that in a country where every race and faith and point of view can be found, we are still bound together as one people; that we share common hopes and a common creed; that the dreams of a little girl in Tucson are not so different than those of … [Read more...] about What Obama said in his State of the Union speech
The European Union needs more time to prepare for the European Commission's proposal to abolish daylight savings time, Austria's Transport Minister Norbert Hofer said Monday. "If we aim to do this in 2019, as the Commission suggested, this will not be supported by the majority of member states," Hofer said at the start of an informal meeting of EU transport ministers in the Austrian city of Graz. Hofer said there was broad support for Austria's proposal that the switch to permanent winter or summer time should take place instead in 2021. Read more: Time change and its discontents "Three countries [Britain, Sweden and Poland] were skeptical and one was concerned that we could end up with a patchwork of different time zones," Hofer added. Last month, European Commission President Jean-Claude Juncker announced plans to stop changing Europe's clocks in October 2019. The Commission has said it wants each EU government to decide by April which time zone they want to be in … [Read more...] about EU needs more time before ending clock changes
David Teten Contributor Share on Twitter David Teten is a Venture Partner with HOF Capital. He was previously a Partner for 8 years with HOF Capital and ff Venture Capital. David writes regularly at teten.com and @dteten. More posts by this contributor Why are revenue-based VCs investing in so many women and underrepresented founders? Should your new VC fund use revenue-based investing? This guest post was written by David Teten, Venture Partner, HOF Capital. You can follow him at teten.com and @dteten. This is part of an ongoing series on Revenue-Based Investing VC that will hit on: Revenue-based investing: A new option for founders who care about control Who are the major revenue-based investing VCs? Should your new VC fund use revenue-based investing? Why are revenue-based VCs investing in so many women and underrepresented founders? Should you raise equity venture capital or revenue-based investing VC? So you’re interested in raising capital from a … [Read more...] about Who are the major revenue-based investing VCs?