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Go to page 39 Open WWW.MONEYWISE.CO.UK Look up postcode E1 8AA Open moneywise.co.uk Call +442077020710 Send email to editor@moneywise.co.uk Go to page 66 Open moneywise.co.uk Call +441795414934 Open seymour.co.uk Send email to editorial@moneywise.co.uk Go to page 34 Call +442076803600 Go to page 71 Call +442074294000 Look up postcode EC1A 9PT Go to page 9 Look up postcode ME9 8FA
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WELCOME TO MONEYWISE

SOME OF OUR WRITERS

GEORGE PITCHER The Reverend is a former industrial editor of the Observer. He is the Archbishop of Canterbury’s secretary for public affairs

CHERRY REYNARD Cherry has now won the Investment Management Association award for freelancer of the year four times

JEFF PRESTRIDGE Jeff is the renowned personal finance editor at the Financial Mail on Sunday

We must protect Britain’s best bank

ABY JOHANNA GORNITZKI BY

recent conversation with friends revealed that a startling number of us are still turning to our parents for money, despite the fact we are all in our 30s. Of the six gathered together for dinner, three of us admitted to owing our parents money, one owns a home purely because her mum put down the deposit, and another is considering moving back home to cut costs.

It turns out parents are giving away an average of £12,846 every year to family members, leaving many with no savings of their own to fall back on, according to a report from Scottish Widows. If the bank of mum and dad goes bust we’ll all be in trouble, so find out how to become a responsible lender on page 34.

If you have handed over all your cash to your kids and are approaching retirement with a tiny pension pot, George Osborne’s Granny Tax will have come as particularly bad news. In his budget he announced plans to phase out extra income-tax allowances for the nation’s pensioners. But don’t worry; our article on page 71 outlines several ways you can make the most of your pension to counteract Osborne’s attack.

Finally, the combination of high house prices and strict lending conditions is driving more and more of us to rent for longer. So are we set to follow the lead of our German cousins and become a nation of renters? No chance. British renters have very little long-term security in their tenancies, struggle with rogue landlords and in some areas pay more each month in rent than they’d pay on a mortgage. Find out the full extent of the renting scandal on page 39.

I hate to leave things on a sour note, so be sure to visit page 66 for information on the great British companies offering their shareholders steady incomes and the potential for capital growth. editor@moneywise.co.uk

EXCLUSIVESUPPLEMENTFORADVANCEDINVESTORS

This month’s supplement

As your ISA portfolio builds over the years and you gain knowledge and confidence as an investor, you may want to broaden it with new investment ideas. For example, how about branching out into individual shares? In this guide, we look at choosing and setting up a at the costs involved. For readers sharedealing account, and also at the costs involved. For readers with a speculative streak, we also look at spreadbetting as a useful tool for short-term positions in the market. Finally, we round up the tax-efficient alternatives once you’ve used up your ISA allowance.

PAGE iii: FEES & CHARGES PAGE vii: SHAREDEALING PAGE x: SPREADBETTING PAGE xiii: TAX-EFFICIENT INVESTING

A Guide to Advanced Investing Gain the confidence to play the markets and win

WWW.MONEYWISE.CO.UK

MONEYWISE MAY 2 0 1 2

EDITOR Johanna Gornitzki SPECIAL PROJECTS EDITOR Rachel Lacey DEPUTY EDITOR Ruth Jackson STAFF WRITER Rebecca Rutt SUPPLEMENT WRITER Cherry Reynard

CONTRIBUTORS Rebecca Al-Ausi, Sam Barrett, Faith Glasgow, Rob Griffin, Sally Hamilton, Charlotte Humphries, Ceri Jones, Harriet Meyer, Rebecca O’Connor, George Pitcher, Andrew Pitts, Jeff Prestridge, Esther Rantzen, Cherry Reynard

ART DIRECTOR Mark Stammers PRODUCTION EDITOR Laura Staples CHIEF EXECUTIVE Tomas Carruthers PUBLISHING DIRECTOR Jeremy King ASSOCIATE PUBLISHER Kay Fox Joyce MARKETING MANAGER Alexandra Kyriakidis ADVERTISING MANAGER Chris Sorrell

Moneywise Magazine First Floor, Standon House, 21 Mansell Street, London, E1 8AA 020 7680 3600 (phone) 020 7702 0710 (fax) moneywise.co.uk editorial@moneywise.co.uk

SUBSCRIPTIONS HOTLINE 01795 414 934 Annual subscription UK £47 Write to: Moneywise Customer Services PO Box 326, Sittingbourne, ME9 8FA or subscribe online at moneywise.co.uk

Member of the Audit Bureau of Circulation. Average monthly circulation January – December 2011: 17,023 Newsagent distribution by Seymour Distribution Ltd 2 East Poultry Avenue London EC1A 9PT 020 7429 4000 seymour.co.uk Moneywise Publishing Ltd © 2012 An Interactive Investor plc company Registration number: 5034730

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MAY 2012 | MONEYWISE 7