Advice for Bond, James Bond
That great hunky chunk of actor Daniel Craig is facing the ultimate first world dilemma: what to do with his fortune, and particularly, whether to hand it down to his kids or not.
He has no plans to leave ‘great sums’ to his children, finding the idea of large inheritances ‘distasteful’. “My philosophy is to get rid of it or give it away before you go,” he says. And he’s not alone.
Nigella is leaving nothing, Bill Gates’s brood will get $10m a piece and Warren Buffet’s children will have to scrape by on $2bn each.
However Buffet admits the “genetic imperative to protect your offspring is hard to override”.
So if clients want to provide for their kids, without completely ruining them, what should they do?
With the unprecedented wealth the baby boomers are about to pass down, it’s a dilemma many civilians will face.
But something planner Tom Skinner has prepared for: “I’ve always seen student loans to be one of the best financial tools to create independence,” he says.
“For one, they give young adults a gentle experience of what it feels like to be in debt, which can be repaid back over several decades with minimal interest. And when they’re at university, they’ll have to learn how to budget accordingly to survive the next month. This will of course mean fewer lattes and beers, but it’s still the steppingstone to independence.”
There you go, Apple, Jermajesty and Princess Tiaamii.
Simple hack
Use your the space bar on your keyboard to scroll down on any webpage. You can even hold the shift key and the space bar at the same time to scroll up. Game changing.
Article of the week
M&S wants to break the taboos around financial wellbeing.
Sassy stats
A poll of more than 7,000 people in ten countries by Zoom found that two-thirds would prefer a mix of virtual and in-person meetings in future. Around 44% of UK men prefer to attend large group meetings in person, compared with just 33% of women (whom studies show to be less likely to speak up in meetings and likelier to be interrupted by men).
Pub quiz fact
A group of ferrets is called a business
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