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Would you want…

Would you want to rely on Tracey Emin&#39s dirty sheets to look after you in your old age? Well a growing number of people, disillusioned at pension uncertainty and poor equity returns wouldn&#39t baulk at the prospect.

Art, the Diary understands, is the new buy to let, with increasing numbers trawling auction houses for that objet with a touch of added value. All the financial advice that Roberts Clark director Jo Roberts can muster isn&#39t enough to stop her mum and dad ploughing a few thousand into a sculpture of Icarus, by a local artist as a long-term investment.

Roberts reckons going for antique furniture and old paintings is the best bet, while modern art clearly deserves to carry the warning that the value of your investment can go down as well as up.

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Talkback

“No because one of the benefits of a pension is the ability to draw down that lump sum. Some people have already drawn down income from their pension and it would be unfair for others not to.”Emma Ames, Cathedral Financial Management“No. A lot of people do not have much faith in pensions already.”Howard Pickersgill, Howard […]

London property falls as Northern prices rise

London house prices fell in September while Northern regions saw strong rises.Market analysts Hometrack says the average price in central London fell by 0.2 per cent in September to £441,350 from £442,251 in August.Its monthly survey of the housing market in England and Wales shows that overall price growth was 0.6 per cent, with the […]

Pensioners fail to maximise potential

Over a third of pensioners wish they had invested more for their retirement, while over a quarter will have to make sacrifices in retirement, according to research from Britannic Asset Management.In retirement, the overwhelming majority of pensioners prefer deposit accounts to unit trusts, Isas or corporate bonds.Nearly 12 per cent of retired people wish they […]

Any Perception Required

Acronyms in the small print of mortgage advertisements are being interpreted in increasingly interesting ways, particularly among the under-25s.APR was thought to mean Another Pint Required, while some thought LTV means Loves Television.Mortgages were far from the minds of the individual who thought MRP means Meal Required Pronto and SVR means Still Very Raunchy.The Diary […]

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