FT.com - UK Equities...FTSE falls to 5½-year low...DSG ended a difficult week on a positive note following a U-turn from analysts and an upgraded recommendation from 'underperform' to 'outperform'...Fear of severe downturn grips world markets ...Fears of a severe recession gripped financial markets as dire unemployment figures from the US drove long-term interest rates down to record lows...Lager out as Britons warm to beer...Beer sales in pubs may be in steep decline but dark ale, long seen as the dowdy English beer compared with its flashier continental cousins, is on the rise...Fuller's bucks trend as ale sales prevail...Fuller, Smith & Turner, the brewer and pub operator, bucked the industry trend by maintaining sales growth over the past two months in spite of the sharp deterioration in consumer confidence...Off-target Aim...Despite its current malaise, London's junior market has a vital part to play, and should still be there to play it when the economic recovery comes...L&G supports Barclays issue through gritted teeth...Legal & General Investment Management has backed away from its threat to vote against Barclays' move to raise £7bn in fresh capital, much of it from Middle Eastern investors...RBS bosses apologise to investors...A profuse and candid apology to angry investors in Royal Bank of Scotland for its troubles was delivered by its chairman and outgoing chief executive ...Fear stalks the world's economies...Anxiety about a severe recession gripped financial markets as dire unemployment figures from the US drove long-term interest rates to record lows...High street spending defies forecasts...The volume of UK sales in the three months to October was flat, a much better outcome than expected and in contradiction to gloomy industry surveys, as retailers are forced into discounts to entice shoppers...Aim loses its shine as new listings dry up...The boom times have come to an abrupt halt for Aim, London's lightly regulated share market for smaller companies as new fundraisings dry up...Bank of England discussed 200bp rate cut...The Bank of England's Monetary Policy Committee voted unanimously to slash the bank rate by 1.5 percentage points this month, and considered an even larger cut, underscoring concerns about credit conditions globally and the decline in consumption and demand at home...Hedge fund investors pull out record $40bn...Hedge fund investors pulled a record $40bn out of the industry in October as poor performance prompted a flight to cash, according to data on Thursday...Halfords warns of fall in trading...Car maintenance and bike seller says sales have slowed since the end of September as it seeks to sell more high margin products...DMGT seeks to save £100m from cost cuts...Owner of the Daily Mail and a range of regional titles including the Evening Standard reveals plans to save £100m as it reports falling profits...IG Group plunges on doubtful debt fears...Shares in the financial markets betting company fall more than 27% after it warned it would suffer a huge jump in doubtful debts in spite of benefiting from recent extreme volatility...

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financial planning

Whether you intend starting a family or retiring there are always financial implications and these require careful consideration and forward planning.

The most practical financial planning separates future requirements into short, medium and long term. A suitable plan should therefore include the following: -

Short term planning including holidays, buying a house, buying a car etc.
Medium term planning including the educational needs of your children, planning for various events including weddings and other similar celebrations that can be anticipated
Long term planning including your anticipated needs in retirement
Inheritance Tax planning - see Taxation

explanation

Short term needs (0-5 years) can be provided out of earned income, through borrowing and out of savings that are readily available. It is therefore necessary to quantify and set aside funds to meet known short-term requirements and then add an amount to cover emergencies.

Medium term requirements (5-10 years) are less simple to quantify, because inflation must be taken into account as well as allowing for additional resources if prices within specific sectors grow more quickly. If your salary produces a surplus over and above that required to cover daily expenditure, accuracy becomes far less of an issue.

Long term planning should only be considered after the short and medium term essentials are taken care of. However, it is very easy to ignore planning for retirement especially for incapacity in later life. Retirement planning can include various types of investment including pensions. Pension plans can also incorporate an element of life insurance, providing a tax-efficient vehicle to protect the interests of those dependent on your ability to provide for them.

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