{"blogs":[{"id":566,"title":"Is online investing the end of the middleman?","author":"","summary":"The last several years have seen a massive increase in fintech technology apps and development.","body":"

\n\n

\"\"The last several years have seen a massive increase in fintech technology apps and development. This allows for a global reach in personal financial services for any online user.

\n\n

Mobile apps have made life easier for digital users and given us access to online services and feature 24 hrs a day from anywhere in the world, unlike brick-and-mortar banks that are limited to geographic location and country regulations. This leads us to ask if mobile financial apps benefit users’ everyday lives or if they are just a passing novelty that won’t outlive traditional banking and financial services.

\n\n

What is the best way to grow your money in a digital world?

\n\n

Fintech mobile apps offer users many services and features like investing in funds and buying digital currency or saving for personal goals, along with simplified processes. This technology mainly caters for a generic end-user and is suitable for supplementing wealth. However, a financial consultant is still the best way to achieve a personalised plan to grow your money and build wealth.

\n\n

Benefits of Fintech apps

\n\n\n\n

Financial technology (Fintech) apps have simplified personal finance and are one of the best ways to supplement your savings and wealth investments. Although apps are convenient and simplify saving, they are generic and for general use. If you need personalised financial advice,  chat with your financial advisor to help you choose the best mobile financial apps that suit your individual savings style.

\n\n

deVere offers digital users several fintech solutions depending on their financial needs. 

\n\n

Catalyst is a low-cost fintech savings app where you can invest money whenever you have spare cash to grow your personal financial portfolio. deVere Crypto is a mobile app that features purchasing and storing cryptocurrencies in a crypto wallet.

\n\n

 

\n\n

Please note the above is for educational purposes only and does not constitute advice. You should always contact your deVere advisor for a personal consultation.

\n\n

* No liability can be accepted for any actions taken or refrained from being taken as a result of reading the above.

\n","isDeleted":false,"publishDate":"02/24/2023 00:00:00","createdDate":"02/24/2023 09:56:48","webPage":{"id":72229,"name":"Is-online-investing-the-end-of-the-middleman","header":"","metaTitle":"Is online investing the end of the middleman?","metaKeywords":"Fintech, Catalyst, deVere, Vault, Online bank, Crypto, Investments","metaDescription":"The last several years have seen a massive increase in fintech technology apps and development.","isDeleted":false,"createdDate":"02/24/2023 09:56:48","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1099,"blogId":566,"blogCategoryId":17,"blogCategory":{"id":17,"category":"Fintech","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_7c2945e3-22ec-40d0-a6bb-ea71bb640d8e.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_7c2945e3-22ec-40d0-a6bb-ea71bb640d8e.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_7c2945e3-22ec-40d0-a6bb-ea71bb640d8e.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_7c2945e3-22ec-40d0-a6bb-ea71bb640d8e.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_7c2945e3-22ec-40d0-a6bb-ea71bb640d8e.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/twitter-images/twitter_7c2945e3-22ec-40d0-a6bb-ea71bb640d8e.jpg"}]},{"id":565,"title":"Are universities affordable?","author":"","summary":"The demand for universities is increasing yearly as more ex-pat families move abroad","body":"

\"\"

\n\n

The demand for universities is increasing every year as more and more ex-pat families move abroad. This demand is causing university costs to rise. Over the last ten years, some countries have increased student costs by over 140%, which leaves many ex-pats unable to afford these costs on their income. 

\n\n

A recent study by HSBC reveals the cost of tuition at universities in various countries. You will notice that although some countries are cheaper in tuition or free (e.g. Norway offers high-standard tertiary education free to non-EU members but has a high living cost), the living costs are extremely high, making it overall expensive. Australia tops as the most expensive country, followed by Singapore. *

\n\n

 

\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\n\t\t\t

Country

\n\t\t\t		\n\t\t\t

Annual student

\n\n\t\t\t

tuition £

\n\t\t\t		\n\t\t\t

Annual living

\n\n\t\t\t

costs £

\n\t\t\t		\n\t\t\t

Total £

\n\t\t\t
\n\t\t\t

Australia

\n\t\t\t		\n\t\t\t

19 828

\n\t\t\t		\n\t\t\t

14831

\n\t\t\t		\n\t\t\t

34659

\n\t\t\t
\n\t\t\t

Singapore

\n\t\t\t		\n\t\t\t

15 592

\n\t\t\t		\n\t\t\t

16708

\n\t\t\t		\n\t\t\t

32300

\n\t\t\t
\n\t\t\t

USA

\n\t\t\t		\n\t\t\t

20 514

\n\t\t\t		\n\t\t\t

9593

\n\t\t\t		\n\t\t\t

30107

\n\t\t\t
\n\t\t\t

UK

\n\t\t\t		\n\t\t\t

17 592

\n\t\t\t		\n\t\t\t

12887

\n\t\t\t		\n\t\t\t

30479

\n\t\t\t
\n\t\t\t

Hong Kong

\n\t\t\t		\n\t\t\t

11069

\n\t\t\t		\n\t\t\t

15394

\n\t\t\t		\n\t\t\t

26463

\n\t\t\t
\n\t\t\t

Canada

\n\t\t\t		\n\t\t\t

13788

\n\t\t\t		\n\t\t\t

10869

\n\t\t\t		\n\t\t\t

24657

\n\t\t\t
\n\t\t\t

France

\n\t\t\t		\n\t\t\t

203

\n\t\t\t		\n\t\t\t

13610

\n\t\t\t		\n\t\t\t

13813

\n\t\t\t
\n\t\t\t

Malaysia

\n\t\t\t		\n\t\t\t

2019

\n\t\t\t		\n\t\t\t

8635

\n\t\t\t		\n\t\t\t

10654

\n\t\t\t
\n\t\t\t

Indonesia

\n\t\t\t		\n\t\t\t

3604

\n\t\t\t		\n\t\t\t

7021

\n\t\t\t		\n\t\t\t

10625

\n\t\t\t
\n\t\t\t

China

\n\t\t\t		\n\t\t\t

3165

\n\t\t\t		\n\t\t\t

5670

\n\t\t\t		\n\t\t\t

8835

\n\t\t\t
\n\t\t\t

Mexico

\n\t\t\t		\n\t\t\t

617

\n\t\t\t		\n\t\t\t

7171

\n\t\t\t		\n\t\t\t

7788

\n\t\t\t
\n\n

 

\n\n

\n\n

Solutions to afford the cost of university

\n\n\n\n

 

\n\n

Don’t let a lack of planning or savings prevent your children from attending the university of their choice. Start an education savings plan as soon as possible.

\n\n

Chat with an advisor about investing in the future of your children.

\n\n

 

\n\n

Please note the above is for educational purposes only and does not constitute advice. You should always contact your deVere advisor for a personal consultation.

\n\n

* No liability can be accepted for any actions taken or refrained from being taken as a result of reading the above.

\n\n

 

\n\n

*https://fr.april-international.com/en/exchange-programmes/what-are-most-expensive-study-abroad-destinations

\n","isDeleted":false,"publishDate":"02/01/2023 00:00:00","createdDate":"02/01/2023 09:44:31","webPage":{"id":72227,"name":"Are-universities-affordable","header":"","metaTitle":"Are universities affordable?","metaKeywords":"University, Expats, Education, Savings","metaDescription":"The demand for universities is increasing yearly as more ex-pat families move abroad","isDeleted":false,"createdDate":"02/01/2023 09:44:31","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1098,"blogId":565,"blogCategoryId":13,"blogCategory":{"id":13,"category":"Education Planning","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_45e9cd61-821c-4c04-ba98-417eaba28371.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_45e9cd61-821c-4c04-ba98-417eaba28371.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_45e9cd61-821c-4c04-ba98-417eaba28371.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_45e9cd61-821c-4c04-ba98-417eaba28371.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_45e9cd61-821c-4c04-ba98-417eaba28371.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/twitter-images/twitter_45e9cd61-821c-4c04-ba98-417eaba28371.jpg"}]},{"id":564,"title":"Speed bumps when you retire","author":"","summary":"We all want a stress-free retirement where we can enjoy our golden years.","body":"

\n\n

\"\"We all want a stress-free retirement where we can enjoy our golden years. Life isn’t always easy and perfect, and very often, unforeseen financial challenges could crop up despite our best planning efforts.

\n\n

Unfortunately, these often-overlooked obstacles could see us having to downsize our retirement lifestyle.

\n\n

Rising cost of living – We all know how inflation shot up this year. Plan your retirement savings with inflation in mind. Increasing yearly contributions could prevent your savings from losing value and coming up short when you retire. When you are retired, remember to increase your annual drawdown to compensate for the cost of living; otherwise, after several years, you could have less spending power.

\n\n

Financial Stress – The last thing we want at retirement is financial stress. Ensure you have a comprehensive review of your retirement plans to ensure you are financially comfortable and on track.

\n\n

Expenses you can’t see – There will always be unforeseen expenses that crop up during retirement, like major car repairs or a new roof needed or major health costs etc. Will your drawdown income be sufficient for this? Ensure you have extra savings set aside for unforeseen expenses apart from your normal income. 

\n\n

Fees – Always be aware of the fees you are being charged for your retirement investments. They could make a nasty dent in your annual percentage drawdown. There could be comparative funds and investment vehicles that charge less and save you annually.

\n\n

Withdrawing too much – Don’t ever forget that your retirement could be longer than you imagined. Withdrawing too much at the beginning of retirement could see you running short later on and having to lower your lifestyle accordingly.

\n\n

Your advisor can help you plan for all these unthought-of retirement expenses and build them into your retirement plans. csvhelp@devere-group.com

\n\n

Please note the above is for educational purposes only and does not constitute advice. You should always contact your deVere advisor for a personal consultation.

\n\n

* No liability can be accepted for any actions taken or refrained from being taken as a result of reading the above.

\n","isDeleted":false,"publishDate":"11/17/2022 00:00:00","createdDate":"11/17/2022 11:46:15","webPage":{"id":72224,"name":"Speed-bumps-when-you-retire","header":"","metaTitle":"Speed bumps when you retire","metaKeywords":"Retirement, Planning, Cost of living, Investments","metaDescription":"We all want a stress-free retirement where we can enjoy our golden years.","isDeleted":false,"createdDate":"11/17/2022 11:46:15","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1097,"blogId":564,"blogCategoryId":4,"blogCategory":{"id":4,"category":"Retirement Planning","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_24229369-ad3e-4c39-a0cf-0ee1776c9110.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_24229369-ad3e-4c39-a0cf-0ee1776c9110.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_24229369-ad3e-4c39-a0cf-0ee1776c9110.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_24229369-ad3e-4c39-a0cf-0ee1776c9110.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_24229369-ad3e-4c39-a0cf-0ee1776c9110.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/twitter-images/twitter_24229369-ad3e-4c39-a0cf-0ee1776c9110.jpg"}]},{"id":563,"title":"Secure your children’s future","author":"","summary":"Any parent wants their children to succeed in life and not have to battle.","body":"

\"\"Any parent wants their children to succeed in life and not have to battle. Life is difficult enough without having to worry about finances. Give your children the opportunities to do whatever they want in life. 

\n\n

Various kinds of savings plans could give your children that much needed boost in life.

\n\n

Education plan
\nStart an education savings plan for your kids when they are little to allow compounding to work its magic. When they graduate high school, you will be able to afford to send them to any university or college they wish to attend, without having to dig into your disposable income. This way, they will not be saddled with study debt even before they earn their first paycheck.

\n\n

Retirement plan
\nYou would think that retirement planning is only for adults, but imagine what your pension capital would be worth if you had another 20 years of compound interest. You are giving your kids the gift of time that will leave them with a huge advantage when they decide to retire. Start a retirement savings plan for them when they are little, and they can continue with contributions once they start working.

\n\n

Savings plan
\nA savings plan is a great way to save up cash for your kids for when they need it most. This could be for a deposit for their first home, to buy a car or even start a business. Either way, it could give a major cash boost to help them on their way.

\n\n

No matter what option you choose to help your kids with, you are gifting them time in which savings can earn valuable compound interest. Chat to your financial consultant about opening a savings plan for your children. budapest@devere-europe.com warsaw@devere-europe.com

\n\n

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere advisor for a personal consultation.
\n* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.

\n","isDeleted":false,"publishDate":"09/14/2022 00:00:00","createdDate":"09/14/2022 12:00:55","webPage":{"id":72219,"name":"Secure-your-childrens-future","header":"","metaTitle":"Secure your children’s future","metaKeywords":"Savings, Children, Finances, Retirement, Education","metaDescription":"Any parent wants their children to succeed in life and not have to battle.","isDeleted":false,"createdDate":"09/14/2022 12:00:55","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1096,"blogId":563,"blogCategoryId":2,"blogCategory":{"id":2,"category":"Financial Planning","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_15cb3c14-703a-431a-a026-7d5ef719422d.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_15cb3c14-703a-431a-a026-7d5ef719422d.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_15cb3c14-703a-431a-a026-7d5ef719422d.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_15cb3c14-703a-431a-a026-7d5ef719422d.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_15cb3c14-703a-431a-a026-7d5ef719422d.jpg"}]},{"id":562,"title":"Making saving easier","author":"","summary":"Saving is probably one of the most difficult things to do. It is practically coded into our DNA to spend, spend, spend.","body":"

\"\"Saving is probably one of the most difficult things to do. It is practically coded into our DNA to spend, spend, spend. Inheriting our parent’s bad savings habits, combined with the increasing cost of living and pressure from modern society telling us that instant gratification is the new normal, is what sabotages our best efforts.

\n\n

We are also under the misconception that to save, we need to put away large sums of cash every month. A small amount every month is a good way to start our savings journey without feeling too much pressure and ultimately leading to failure.
\n•    Start with a small amount and work on creating a habit.
\n•    Open a separate account into which your savings can go.
\n•    Schedule a direct debit on the day your salary gets paid into your account, so you don’t feel it in your pocket.
\n•    Every time you get a bonus or increase, commit to putting a portion of it away into the savings before spending it e.g. 10%
\n•    Adopt the 10% mindset and make it into a habit. This will help stick to your savings goal.
\n•    A savings pocket can round off purchases and transfer the difference into your savings. You won’t feel it in your pocket, but your savings balance will thank you at the end of the month.

\n\n

It is important to set savings goals for yourself. It could be for a rainy-day fund, a deposit for a house or that dream vacation. 

\n\n

The trap is that if the goal is a large one, it is easy to get discouraged in your saving endeavours or lose sight of the huge end goal and use the savings.

\n\n

Make savings goals into smaller bite size chunks.
\n•    Try to commit for three months at a time as opposed to a whole year.
\n•    Reward yourself for small milestones. Like every 3 or 6 months, spoil yourself with a small reward. Positive reinforcement helps keep saving on track.

\n\n

Your financial advisor can help get your savings on track and create good savings habits. budapest@devere-europe.com warsaw@devere-europe.com

\n\n

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere advisor for a personal consultation.
\n* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.

\n\n


\n 

\n","isDeleted":false,"publishDate":"09/02/2022 00:00:00","createdDate":"09/02/2022 11:47:05","webPage":{"id":72218,"name":"Making-saving-easier","header":"","metaTitle":"Making saving easier","metaKeywords":"Saving, Spending, Financial Planning","metaDescription":"Saving is probably one of the most difficult things to do. It is practically coded into our DNA to spend, spend, spend.","isDeleted":false,"createdDate":"09/02/2022 11:47:05","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1095,"blogId":562,"blogCategoryId":2,"blogCategory":{"id":2,"category":"Financial Planning","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_28258541-671c-48cb-a2f7-1328d344b6a5.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_28258541-671c-48cb-a2f7-1328d344b6a5.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_28258541-671c-48cb-a2f7-1328d344b6a5.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_28258541-671c-48cb-a2f7-1328d344b6a5.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_28258541-671c-48cb-a2f7-1328d344b6a5.jpg"}]},{"id":561,"title":"Don’t let Inflation ruin your retirement","author":"","summary":"Average inflation across Europe has hit the 5% barrier, the highest recorded levels in the Eurozone.","body":"

\"\"Average inflation across Europe has hit the 5% barrier, the highest recorded levels in the Eurozone. Even Global inflation is at an all time high. 

\n\n

The largest contributing factor to this, is the rise in energy prices by over 26%. 

\n\n

Although economists predict that inflation will decrease as markets stabilise after being affected by Covid, this is still an attention seeking revelation. It leads us to think earnestly about inflation and how it can eat away at our investments.

\n\n

Example

\n\n

You would think that an investment growing at 5% annually is a decent return on investment, but if inflation is 5%, then you are only preventing your money from depreciating. You would need to earn more than 5% to see your money grow.

\n\n

A good financial advisor will factor inflation into your retirement investment strategy:

\n\n

•    Increasing annual contributions if you are contributing to a pension plan, to beat inflation and prevent your money depreciating
\n•    Investing in funds that have a history of producing higher returns that beat inflation and grow your money
\n•    Review your investments on a regular basis and make any adjustments to your investment strategy – e.g. replacing funds that are not performing with better performing ones, rebalancing your portfolio according to your risk appetite.

\n\n

Inflation could also be a deciding factor in your level of risk. If you are generally a conservative investor or nearing retirement, you might wish to move your investments into more stable vehicles that might produce lower returns. Avoid playing it too safe or you might end up losing money as inflation will eat your money if your returns are too conservative. You could end up several years into retirement with a shortage of funds.

\n\n

Always consult with your financial advisor regarding inflation beating investments. They will tailor make your investment strategy according to your unique financial situation and risk appetite. budapest@devere-europe.com   warsaw@devere-europe.com

\n\n

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere advisor for a personal consultation.

\n\n

* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.

\n","isDeleted":false,"publishDate":"05/03/2022 00:00:00","createdDate":"05/03/2022 15:24:49","webPage":{"id":72210,"name":"Dont-let-Inflation-ruin-your-retirement","header":"","metaTitle":"Don’t let Inflation ruin your retirement","metaKeywords":"Inflation","metaDescription":"Average inflation across Europe has hit the 5% barrier, the highest recorded levels in the Eurozone.","isDeleted":false,"createdDate":"05/03/2022 15:24:49","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1094,"blogId":561,"blogCategoryId":4,"blogCategory":{"id":4,"category":"Retirement Planning","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_c8b01fcb-0034-4902-ab64-29237d74bf5c.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_c8b01fcb-0034-4902-ab64-29237d74bf5c.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_c8b01fcb-0034-4902-ab64-29237d74bf5c.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_c8b01fcb-0034-4902-ab64-29237d74bf5c.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_c8b01fcb-0034-4902-ab64-29237d74bf5c.jpg"}]},{"id":560,"title":"Is it in our DNA not to save?","author":"","summary":"Saving is a huge challenge for most, whether it is for retirement, education, holidays, or rainy days. ","body":"

\"\"Saving is a huge challenge for most, whether it is for retirement, education, holidays, or rainy days. What makes saving such a big issue for us? Is it something inbred in us from birth? Is it something we learn in childhood, or is it part of our DNA?

\n\n

From ancient times, man has had a need to gather enough food to survive. They built storerooms to store their grain and other foods for the scarcer winter months. If this need to save things has carried through the centuries, then why has modern man forgotten this need?

\n\n

Modern civilisation and the industrial revolution have made food easily accessible and available. There is no longer a need to save for a rainy day or for the winter months. Has this habit crept into our money habits as well?

\n\n

Saving might not be genetically inbred, but it can be inherited from our parents through their habit transference. Their habits become our habits, and unfortunately, they are habits of bad saving and instant gratification. The saving mindset will only be the norm, once parents change the way they educate their children.

\n\n

Many would blame lack of saving due to

\n\n\n\n

But what about the self-sabotaging aspects like

\n\n\n\n

You will be surprised how much you spend a month on unnecessary items and services. Just these alone could save you a significant amount which you could divide between retirement and emergency fund savings. This and a mindset change of paying yourself first and then the rest goes to the monthly budget.

\n\n

Your financial advisor can help you get a plan of action into place and ensure that you build good savings habits and stick to them. This will in turn reflect on your children’s saving habits.

\n\n

budapest@devere-europe.com

\n\n

warsaw@devere-europe.com

\n\n

 

\n\n

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere advisor for a personal consultation.

\n\n

* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.

\n","isDeleted":false,"publishDate":"04/11/2022 00:00:00","createdDate":"04/11/2022 09:27:15","webPage":{"id":72207,"name":"is-it-in-our-dna-not-to-save","header":"","metaTitle":"Is it in our DNA not to save?","metaKeywords":"DNA, save, saving, financial planning, finances, blog","metaDescription":"Saving is a huge challenge for most, whether it is for retirement, education, holidays, or rainy days. ","isDeleted":false,"createdDate":"04/11/2022 09:27:15","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1093,"blogId":560,"blogCategoryId":2,"blogCategory":{"id":2,"category":"Financial Planning","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_76dd6e16-5e28-4f6f-be5b-360a255d4515.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_76dd6e16-5e28-4f6f-be5b-360a255d4515.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_76dd6e16-5e28-4f6f-be5b-360a255d4515.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_76dd6e16-5e28-4f6f-be5b-360a255d4515.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_76dd6e16-5e28-4f6f-be5b-360a255d4515.jpg"}]},{"id":559,"title":"Can you afford the Top Universities in Europe?","author":"","summary":"We all want the best for our children. This includes a quality education at a reputable university.","body":"

\"\"We all want the best for our children. This includes a quality education at a reputable university.

\n\n

Being expats living abroad, or as some like to be called ‘global citizens’, the world is your oyster, and your children will more than likely attend a university abroad. This will of course lead to you paying international tuition fees for their studies. Because you live abroad, you might no longer be eligible for cheaper education back in your home country.

\n\n

This quality education does come at a premium though. Can you afford to send your children to the best schools?

\n\n

Fees could end up in the hundreds of thousands. Remember to include admin fees, tuition fees, textbook fees, accommodation and transport fees, membership fees and general living expenses.

\n\n

Below are the 2022 average tuition fees for a year of undergraduate studies at the top universities in Europe compared to the rest of the world. *

\n\n

International student fees

\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\n\t\t\t

University

\n\t\t\t		\n\t\t\t

Global ranking

\n\t\t\t		\n\t\t\t

Tuition costs per annum for a business degree

\n\t\t\t
\n\t\t\t

Massachusetts Institute of Technology (MIT) - USA

\n\t\t\t		\n\t\t\t

1

\n\t\t\t		\n\t\t\t

$53 000

\n\t\t\t
\n\t\t\t

Oxford university - UK

\n\t\t\t		\n\t\t\t

2

\n\t\t\t		\n\t\t\t

$38 000

\n\t\t\t
\n\t\t\t

University of Cambridge - UK

\n\t\t\t		\n\t\t\t

3

\n\t\t\t		\n\t\t\t

$31 979

\n\t\t\t
\n\t\t\t

Imperial College London

\n\t\t\t		\n\t\t\t

7

\n\t\t\t		\n\t\t\t

$33 130

\n\t\t\t
\n\t\t\t

ETH Zurich – Swiss Federal Institute of Technology (most master’s degrees in English)

\n\t\t\t		\n\t\t\t

8

\n\t\t\t		\n\t\t\t

$1 600

\n\t\t\t
\n\t\t\t

University of Edinburgh

\n\t\t\t		\n\t\t\t

16

\n\t\t\t		\n\t\t\t

$31 778

\n\t\t\t
\n\t\t\t

Universite PSL - Paris

\n\t\t\t		\n\t\t\t

44

\n\t\t\t		\n\t\t\t

$3 167

\n\t\t\t
\n\t\t\t

University of Amsterdam (20 Bachelors’ degrees in English and 200 Master’s degrees)

\n\t\t\t		\n\t\t\t

55

\n\t\t\t		\n\t\t\t

$11 000

\n\t\t\t
\n\t\t\t

Lomonosov Moscow State university (several programmes in English)

\n\t\t\t		\n\t\t\t

78

\n\t\t\t		\n\t\t\t

$4 000

\n\t\t\t
\n\t\t\t

University of Vienna

\n\t\t\t		\n\t\t\t

151

\n\t\t\t		\n\t\t\t

$1 730

\n\t\t\t
\n\t\t\t

University of Warsaw – Poland (many programmes in English)

\n\t\t\t		\n\t\t\t

308

\n\t\t\t		\n\t\t\t

$4 000

\n\t\t\t
\n\t\t\t

Jagiellonian University – Krakow (some programmes in English)

\n\t\t\t		\n\t\t\t

309

\n\t\t\t		\n\t\t\t

$8 000

\n\t\t\t
\n\t\t\t

Eötvös Loránd University – Hungary (many programmes in English)

\n\t\t\t		\n\t\t\t

651

\n\t\t\t		\n\t\t\t

$6 100

\n\t\t\t
\n\n

 

\n\n

If these costs are daunting or you don’t want to eat into your disposable income, you might need to invest in an education savings plan if your children are still small so you can ensure they can attend any school or university they so desire. Chat to your financial adviser about starting an education plan to ensure your children’s future education. budapest@devere-europe.com

\n\n

 warsaw@devere-europe.com

\n\n

 

\n\n

 

\n\n

*topuniversities.com

\n\n

 

\n\n

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere adviser for a personal consultation.

\n\n

* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.

\n\n

 

\n","isDeleted":false,"publishDate":"03/16/2022 00:00:00","createdDate":"03/16/2022 14:31:53","webPage":{"id":72205,"name":"Can you afford the Top Universities in Europe?","header":"","metaTitle":"Can you afford the Top Universities in Europe?","metaKeywords":"University, 2022, top, blog","metaDescription":"We all want the best for our children. This includes a quality education at a reputable university.","isDeleted":false,"createdDate":"03/16/2022 14:31:53","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1092,"blogId":559,"blogCategoryId":13,"blogCategory":{"id":13,"category":"Education Planning","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_5a98b09e-8c51-4cc5-a124-ae13f10d7b7d.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_5a98b09e-8c51-4cc5-a124-ae13f10d7b7d.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_5a98b09e-8c51-4cc5-a124-ae13f10d7b7d.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_5a98b09e-8c51-4cc5-a124-ae13f10d7b7d.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_5a98b09e-8c51-4cc5-a124-ae13f10d7b7d.jpg"}]},{"id":558,"title":"Life insurance, is it really that important","author":"","summary":"According to stats, only 57% of people have life cover, and 70% of those are underinsured. ","body":"

\"\"According to stats, only 57% of people have life cover, and 70% of those are underinsured. This leaves their families with inadequate cover and in financial distress when they pass on.
\nLife cover is essential to ensure that your family and loved ones are taken care of in the unfortunate event of your demise, whether during your working life or during retirement.

\n\n

 

\n\n

Why do you need life cover?
\n•    It will provide your family with financial stability when you are no longer around
\n•    It will pay off large debt like a mortgage
\n•    It provides for your children’s education
\n•    It will ensure that you leave an inheritance for your children
\n•    It gives you peace of mind knowing your family is taken care of.

\n\n

 

\n\n

Kinds of Life Cover
\n•    Whole life cover
\nThis is life insurance that covers you for your whole life and will pay out a lump sum amount to your beneficiaries no matter when you die e.g. policy of £200 000 life cover will pay out when you die.
\n•    Term life cover
\nThis is life insurance that is chosen for a particular term length and will pay out if you die within that period. If you don’t die during the selected term, it will not pay out to your beneficiaries and your premiums are not refundable e.g. for a mortgage.

\n\n

For many, life cover is a thing that seems very far away or a waste as you never see the results, but not having it will be far more detrimental for the ones you leave behind. Chat to your adviser to find the life cover that best suits your current circumstances and protects your assets. warsaw@devere-europe.com    budapest@devere-europe.com    

\n\n

* https://www.which.co.uk/money

\n\n

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere adviser for a personal consultation.
\n* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.

\n","isDeleted":false,"publishDate":"02/16/2022 00:00:00","createdDate":"02/16/2022 15:09:57","webPage":{"id":72203,"name":"Life-insurance-is-it-really-that-importan","header":"","metaTitle":"Life insurance – is it really that important","metaKeywords":"Life assurance, insurance, life insurance, blog","metaDescription":"According to stats, only 57% of people have life cover, and 70% of those are underinsured. ","isDeleted":false,"createdDate":"02/16/2022 15:09:57","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1091,"blogId":558,"blogCategoryId":11,"blogCategory":{"id":11,"category":"Life Assurance","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_c86eb345-14b9-49dd-bb18-a8db2b74c4b9.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_c86eb345-14b9-49dd-bb18-a8db2b74c4b9.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_c86eb345-14b9-49dd-bb18-a8db2b74c4b9.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_c86eb345-14b9-49dd-bb18-a8db2b74c4b9.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_c86eb345-14b9-49dd-bb18-a8db2b74c4b9.jpg"}]},{"id":557,"title":"Increasing costs in your golden years?","author":"","summary":"The average retirement income according to standard retirement planning assumptions, could possibly be calculated on about 75-80% of your working salary.","body":"

\"\"The average retirement income according to standard retirement planning assumptions, could possibly be calculated on about 75-80% of your working salary. This should be sufficient to see you through a comfortable retirement as you would be downscaling expenses and costs during retirement. Although this is the average, each person’s financial needs will depend on their desired lifestyle. Some will need a higher income if they choose to lead a lavish retirement.

\n\n

Decreasing costs could include lower transport costs as you won’t be commuting to work every day, downscaling to only one vehicle, lower car insurance premiums with pensioner discounts and life insurance.

\n\n

But no matter what your desired income would be, there are certain expenses that are going to increase when you retire.

\n\n\n\n

Retirement is meant to be a relaxing time free of financial worries. Unfortunately the cost of living does not disappear.

\n\n

Make sure to include unforeseen expenses into your retirement budget. Your financial adviser can help map a complete retirement budget for you. budapest@devere-europe.com warsaw@devere-europe.com

\n\n

* https://www.rd.com/

\n\n

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere adviser for a personal consultation.
\n* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.
\n 

\n","isDeleted":false,"publishDate":"01/26/2022 00:00:00","createdDate":"01/26/2022 14:48:22","webPage":{"id":72201,"name":"Increasing-costs-in-your-golden-years","header":"","metaTitle":"Increasing costs in your golden years?","metaKeywords":"increasing, costs, blog, retirement, income, blog","metaDescription":"The average retirement income according to standard retirement planning assumptions, could possibly be calculated on about 75-80% of your working salary.","isDeleted":false,"createdDate":"01/26/2022 14:48:22","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1090,"blogId":557,"blogCategoryId":4,"blogCategory":{"id":4,"category":"Retirement Planning","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_e79037f3-ee5d-4890-a720-ec1c73f9cf0e.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_e79037f3-ee5d-4890-a720-ec1c73f9cf0e.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_e79037f3-ee5d-4890-a720-ec1c73f9cf0e.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_e79037f3-ee5d-4890-a720-ec1c73f9cf0e.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_e79037f3-ee5d-4890-a720-ec1c73f9cf0e.jpg"}]},{"id":556,"title":"Is instant gratification getting you into debt?","author":"","summary":"We live in a world where we get taught that waiting and patience are bad or inconvenient principles.","body":"

\"\"We live in a world where we get taught that waiting and patience are bad or inconvenient principles. Marketing campaigns brainwash us into believing that we need a product immediately or it may be sold out, or if we don’t have it, our lives will be worse off.

\n\n\n\n

If you answered yes to any of the above questions, then you could be a slave to instant gratification. 
\n 

\n\n

“Instant gratification is the opposite of what we’ve been taught and try too hard to practice — delayed gratification. Waiting is hard, and there is an innate desire to have what we want when we want it, which is usually without any delay… when we don’t get fulfilment, our psychological response is anxiety or tension.” *
\n 

\n\n

This phenomenon makes us put our wants over our needs. 

\n\n

But what happens when we use credit to fulfil our instant gratification. ‘Buy now pay later’ seems to be the dominant mindset today.

\n\n

How do we get out of this mindset, or even worse, recover from the debt we have incurred?

\n\n\n\n

If you find that you are unable to cut costs or are drowning in debt, then seek the help of your financial adviser to make a debt payment plan for you, and get you back on the road to financial freedom soon budapest@devere-europe.com  warsaw@devere-europe.com
\n * https://www.entrepreneur.com/

\n\n

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere adviser for a personal consultation.
\n* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.
\n 

\n","isDeleted":false,"publishDate":"10/13/2021 00:00:00","createdDate":"10/13/2021 11:53:29","webPage":{"id":72195,"name":"is-instant-gratification-getting-you-into-debt","header":"","metaTitle":"Is instant gratification getting you into debt?","metaKeywords":"instant gratification, debt, financial planning","metaDescription":"We live in a world where we get taught that waiting and patience are bad or inconvenient principles.","isDeleted":false,"createdDate":"10/13/2021 11:53:29","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1089,"blogId":556,"blogCategoryId":2,"blogCategory":{"id":2,"category":"Financial Planning","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_4d3bdd0c-b3e5-4a50-9faf-3972e97d3d68.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_4d3bdd0c-b3e5-4a50-9faf-3972e97d3d68.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_4d3bdd0c-b3e5-4a50-9faf-3972e97d3d68.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_4d3bdd0c-b3e5-4a50-9faf-3972e97d3d68.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_4d3bdd0c-b3e5-4a50-9faf-3972e97d3d68.jpg"}]},{"id":555,"title":"Financial Snob or Financial Slob?","author":"","summary":"Most of us like to think that we are financial snobs, but the truth is, we are closer to financial slobs than we care to admit. In our minds, we are savvy investors who have done proper planning for retirement and our future. ","body":"

\"\"Most of us like to think that we are financial snobs, but the truth is, we are closer to financial slobs than we care to admit. In our minds, we are savvy investors who have done proper planning for retirement and our future. 

\n\n

The truth is, it is all good and well to know what the right financial planning principles are, but it’s a very different kettle of fish actually doing something about it.

\n\n

Financial slob
\nThis creature is indigenous to most continents and quite common in all urban areas. The characteristics of this creature are:

\n\n\n\n

Financial snob
\nThis creature is also indigenous to most continents, but is difficult to find in urban areas, is quite fussy, and has very particular habits.

\n\n\n\n


\nBoth snobs and slobs have the same financial strains that most do e.g. rising cost of living, but snobs realise that ‘one day when I have extra money’ will never arrive. They watch their budget and make an effort to contribute towards retirement and life cover, no matter how small it is, any contributions are better than none. 

\n\n

Chat to your adviser today to ensure you are a financial snob and not a financial slob. budapest@devere-europe.com  warsaw@devere-europe.com

\n\n


\nPlease note, the above is for education purposes only and does not constitute advice. You should always contact your deVere adviser for a personal consultation.
\n* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.

\n","isDeleted":false,"publishDate":"09/13/2021 00:00:00","createdDate":"09/13/2021 16:13:51","webPage":{"id":72191,"name":"Financial-Snob-or-Financial-Slob","header":"","metaTitle":"Financial Snob or Financial Slob?","metaKeywords":"finance, blog, EU, Europe","metaDescription":"Most of us like to think that we are financial snobs, but the truth is, we are closer to financial slobs than we care to admit. ","isDeleted":false,"createdDate":"09/13/2021 16:13:51","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1088,"blogId":555,"blogCategoryId":2,"blogCategory":{"id":2,"category":"Financial Planning","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_647ee743-d646-4478-b858-524703d496b1.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_647ee743-d646-4478-b858-524703d496b1.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_647ee743-d646-4478-b858-524703d496b1.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_647ee743-d646-4478-b858-524703d496b1.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_647ee743-d646-4478-b858-524703d496b1.jpg"}]},{"id":554,"title":"Creating an income after retirement","author":"","summary":"For many, reaching retirement signifies well deserved rest, relaxation, and enjoyment. And why not? You’ve worked hard to get to this point. ","body":"

\"\"For many, reaching retirement signifies well deserved rest, relaxation, and enjoyment. And why not? You’ve worked hard to get to this point. 

\n\n

Pensioners do not always just want to sit on the porch and read a book. Some want to generate income to supplement their retirement funds. This could be out of necessity because of a shortfall, or to allow for financial security and create a better lifestyle, or just to keep busy.

\n\n

Whatever the reasons for this income generation, there are many ideas from full time working to a part time job that allows freedom.

\n\n\n\n

Things to consider
\nThere are various things to consider with regards to your business.
\nDo you want to work full time or part time or only when you feel like it? The business you start will determine these goals.
\n 

\n\n

Example:
\nHaving a B&B could keep you fully booked all year and requires cleaning and servicing guests. If you enjoy the interaction then great, but you could decide only to rent out in peak-season, so you have free time the rest of the year.

\n\n\n\n

Remember when planning a new venture to KISS – Keep it straight and simple. Don’t go too fancy or too big, unless it is an established business from before retirement.

\n\n

You are retired and should be enjoying it. Envision a business that will allow you free time and to go on vacation whenever you want.

\n\n

Your financial adviser can help you plan, budget and check financial viability before starting a business. budapest@devere-europe.com  warsaw@devere-europe.com

\n\n

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere adviser for a personal consultation.
\n* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.

\n","isDeleted":false,"publishDate":"09/01/2021 00:00:00","createdDate":"09/01/2021 10:30:48","webPage":{"id":72190,"name":"creating-an-income-after-retirement","header":"","metaTitle":"Creating an income after retirement","metaKeywords":"income, retirement, Europe, blog","metaDescription":"For many, reaching retirement signifies well deserved rest, relaxation, and enjoyment. And why not? You’ve worked hard to get to this point. ","isDeleted":false,"createdDate":"09/01/2021 10:30:48","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1087,"blogId":554,"blogCategoryId":4,"blogCategory":{"id":4,"category":"Retirement Planning","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_36d929f7-70eb-464c-9aa7-c53bb79a8cdc.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_36d929f7-70eb-464c-9aa7-c53bb79a8cdc.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_36d929f7-70eb-464c-9aa7-c53bb79a8cdc.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_36d929f7-70eb-464c-9aa7-c53bb79a8cdc.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_36d929f7-70eb-464c-9aa7-c53bb79a8cdc.jpg"}]},{"id":553,"title":"Hungary central bank governor calls for structural govt. changes","author":"","summary":"Governor of the National Bank of Hungary (NBH) Gyorgy Matolcsy is pressing for major institutional changes within the structure and operations of the government as a new global economic crisis is increasingly likely.","body":"

\"\"Governor of the National Bank of Hungary (NBH) Gyorgy Matolcsy is pressing for major institutional changes within the structure and operations of the government as a new global economic crisis is increasingly likely.

\n\n

In an article in the Magyar Nemzet daily, Matolcsy said that despite Hungary’s achievements between 2010 and 2019, the level of development at the end of 2019 undershot the all-time high from 1936. Indeed, the country’s development level at that time was around 83% of the EU average, whilst in 2019 it was at 73%.

\n\n

The governor predominantly attributed this to state operations, specifically the government. “Our mediocre economic performance compared with that of our competitors this past decade was the result of a mediocre performance of government”.

\n\n

Matolcsy went on to praise the economy ministry’s operations between 2010 and 2013, stating it has effectively revamped the state budget and bolstered employment. Nevertheless, he added it was an error to close down the ministry as the centre of Hungary’s economic policy making and assign it to the new finance ministry.

\n\n

“This broke with the civil political wing’s leading principle that economic policy cannot be guided by annual budget interests. This is akin to the nationally-minded wing giving up the idea of the nation, Christianity or the family on the political stage”.

\n\n

Matolcsy added that this change has created an “economic policy vacuum”, which the Prime Minister and economic general council has tried to fill.

\n\n

“This attempt has failed. The National Bank of Hungary was unable to fill the economic policy void from the outside, and there was no institution within the government that was authorised or able to do so on the inside, either”, he stated.

\n\n

However, the bank governor said the NBH and the country’s financial system has successfully managed the pandemic-fuelled economic crisis. The foreign ministry “has functioned excellently” in handling foreign capital inflows, whilst the innovation and technology ministry has performed well in creating growth conditions.

\n","isDeleted":false,"publishDate":"08/10/2021 00:00:00","createdDate":"08/10/2021 13:26:24","webPage":{"id":72188,"name":"Hungary-central-bank-governor-calls-for-structural-govt-changes","header":"","metaTitle":"Hungary central bank governor calls for govt. changes","metaKeywords":"blog, Hungary, governor","metaDescription":"Governor of the National Bank of Hungary (NBH) Gyorgy Matolcsy is pressing for major institutional changes within the structure and operations of the government.","isDeleted":false,"createdDate":"08/10/2021 13:26:24","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1086,"blogId":553,"blogCategoryId":16,"blogCategory":{"id":16,"category":"Politics","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_f19d64d5-a707-4b86-8f2c-db7181b8bd08.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_f19d64d5-a707-4b86-8f2c-db7181b8bd08.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_f19d64d5-a707-4b86-8f2c-db7181b8bd08.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_f19d64d5-a707-4b86-8f2c-db7181b8bd08.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_f19d64d5-a707-4b86-8f2c-db7181b8bd08.jpg"}]},{"id":552,"title":"Another rate hike planned for Hungary to rein in EU’s fastest inflation","author":"","summary":"A second interest rate hike since June is on the cards in Hungary to attempt to tackle the fastest inflation in the European Union.","body":"

\"\"A second interest rate hike since June is on the cards in Hungary to attempt to tackle the fastest inflation in the European Union.

\n\n

Hungary tightened monetary policy last month as consumer prices were driven higher following a rally in global commodities and lockdown restrictions being relaxed.

\n\n

Monthly rate increases have been mooted by the central bank to bring inflation back to the 3% target from the current rate of over 5%.

\n\n

The majority of analysts polled by Bloomberg forecast the base rate – presently at 0.9% - will rise by 15 basis points.

\n\n

“Price growth will slow to not only within the tolerance band but to near the central bank’s goal next year as a result of proactive monetary policy,” according to the bank’s Deputy Governor Barnabas Virag last week. “We’re going to continue the cycle until we reach this.”

\n\n

Hungary is going against the argument from the world’s largest central banks that the current inflation bout is only temporary, fuelled by base effects and supply-chain issues.

\n\n

In addition, Hungary’s currency is a factor for the high inflation. The Hungarian forint plummeted to an all-time low in March, and since the beginning of last month has been the region’s worst performing currency against the euro.

\n\n

Furthermore, more aggressive interest rate hikes are predicted over the next few months by money-market investors. The three-month Budapest interbank rate – which is a broadly-used indicator for the economy’s prevailing interest rate – is 17 basis points over the central bank’s benchmark. Forward-rate agreements show close to 60 basis points of increases by October.

\n","isDeleted":false,"publishDate":"07/27/2021 00:00:00","createdDate":"07/27/2021 09:30:44","webPage":{"id":72187,"name":"Another-rate-hike-planned-for-Hungary-to-rein-in-EUs-fastest-inflation","header":"","metaTitle":"Another rate hike planned for Hungary ","metaKeywords":"hike, Hungary, EU, inflation ","metaDescription":"A second interest rate hike since June is on the cards in Hungary to attempt to tackle the fastest inflation in the European Union.","isDeleted":false,"createdDate":"07/27/2021 09:30:44","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1085,"blogId":552,"blogCategoryId":1,"blogCategory":{"id":1,"category":"Market Update","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_9503c80e-3640-4bc0-b7ee-6578142e6201.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_9503c80e-3640-4bc0-b7ee-6578142e6201.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_9503c80e-3640-4bc0-b7ee-6578142e6201.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_9503c80e-3640-4bc0-b7ee-6578142e6201.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_9503c80e-3640-4bc0-b7ee-6578142e6201.jpg"}]},{"id":551,"title":"When you should review your retirement planning","author":"","summary":"We all know that it is important to have an annual review on our financial portfolio and retirement planning.","body":"

\"\"We all know that it is important to have an annual review on our financial portfolio and retirement planning, but there are also other times when we should make an appointment with our financial adviser to review our retirement. These occur during major life events or changes.

\n\n

After an increase – This is the easiest time to increase your retirement contributions. Before you make plans with your extra monthly income, you might consider using part of it towards an increase in pension contributions. We often plead poverty and always have an excuse not to increase our retirement contributions. Your pocket won’t feel the increase as it doesn’t affect your budget. 

\n\n

After a bonus – This is the perfect time to supplement your retirement with a lump sum cash boost. It could significantly increase your pension pot over time as compound interest gets to work. 

\n\n

 

\n\n

Example: A cash boost of £10 000 could earn around £23 100 in compound interest alone over 20 years at 6% return. That’s an extra £33 100 in your pension pot.  

\n\n

\"\"

\n\n


\nVS

\n\n

Example: Monthly contributions of £42 (equivalent to £10 000 contributions over 20 years) earns £9 325 in compound interest. That is only £19 405 in your pension pot.
\n 

\n\n

\"\"

\n\n

 
\nAfter a Promotion – As after an increase, a promotion allows you to invest more into your pension pot. Don’t forget about lifestyle creep. As we earn more income, we up our lifestyle. To maintain this new lifestyle into retirement, we also need to increase our pension pot contributions. 

\n\n

After receiving an Inheritance – An inheritance could be game changer for your retirement. The cash boost could be the difference between a comfortable retirement and a luxury retirement.

\n\n

If you become disabled - Hopefully you had disability cover and received a pay-out, and that you are still able to work. This extra cash could be invested in your retirement if you do not need the funds for medical care. If you didn’t have disability cover, you might consider upping your retirement contributions as you will need special care when you are retired which could be costly. 

\n\n

Keep in mind that you might need to retire early because of your disability and your retirement plans need to be reviewed to cover the extra years.

\n\n

These life occurrences could significantly boost your retirement pot if you seize the opportunities that they offer. Make sure to get plans in place before you receive the extra income and find ways to spend it. 

\n\n

Chat to your financial adviser to incorporate these life events into your retirement planning. 

\n\n

budapest@devere-europe.com
\nwarsaw@devere-europe.com

\n\n

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere adviser for a personal consultation.
\n* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.

\n","isDeleted":false,"publishDate":"07/21/2021 00:00:00","createdDate":"07/21/2021 12:01:26","webPage":{"id":72186,"name":"when-you-should-review-your-retirement-planning","header":"","metaTitle":"When you should review your retirement planning","metaKeywords":"retirement planning, retirement, planning, EU, europe","metaDescription":"We all know that it is important to have an annual review on our financial portfolio and retirement planning.","isDeleted":false,"createdDate":"07/21/2021 12:01:26","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1084,"blogId":551,"blogCategoryId":4,"blogCategory":{"id":4,"category":"Retirement Planning","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_e324b67a-d224-40d0-8b17-90d3a925c378.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_e324b67a-d224-40d0-8b17-90d3a925c378.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_e324b67a-d224-40d0-8b17-90d3a925c378.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_e324b67a-d224-40d0-8b17-90d3a925c378.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_e324b67a-d224-40d0-8b17-90d3a925c378.jpg"}]},{"id":550,"title":"‘Polexit’ fears heightened as Warsaw flouts EU ruling","author":"","summary":"Poland’s membership of the European Union tumbled into uncertainty as judges defied a European court order to reverse a number of its contentious judicial reforms.","body":"

\"\"Poland’s membership of the European Union tumbled into uncertainty as judges defied a European court order to reverse a number of its contentious judicial reforms.

\n\n

Senior Polish judge, Stanislaw Piotrowicz stated that interim measures imposed by the EU’s highest court, which ordered Warsaw to suspend the reforms were “not in line” with the Polish constitution.

\n\n

This ruling is the first of two verdicts scheduled to be revealed this week by Polish judges which seemingly question a key requirement of European Union membership, stating that EU law takes precedence over national laws.

\n\n

The ruling led Guy Verhofstadt, an MEP and former chief Brexit co-ordinator, to caution that Poland’s Eurosceptic government was attempting to remove the country from the bloc.

\n\n

Verhofstadt said on Twitter: “Against the wishes of the vast majority of Polish people who want an EU future, the populist governing PIS [Law and Justice] party is determined to take Poland out of the EU.

\n\n

“Will anyone act to stop them before it is too late?” he went on to say, claiming that the rule of law in Poland was breaking down.

\n\n

The ruling from Poland followed the European Court of Justice issuing an interim order for Warsaw to suspend its “disciplinary chamber” of the Supreme Court, within measures to overhaul the Polish legal system.

\n\n

As part of the Polish reforms, which came into effect in February last year, the disciplinary chamber has the authority to strip judges of immunity and cut their salaries.

\n\n

The reforms also stop judges from referring certain points of law to the ECJ.

\n\n

MEPs were shocked at the ruling, hiking fears Poland would leave the EU.

\n\n

“The refusal to implement rulings of the European Court of Justice in Poland is a clear step towards taking Poland out of the European Union,” Jeroen Lenaers, a Dutch MEP, commented.

\n\n

“We fear that the Polish government is on the path to Polexit,” he added.

\n\n

“We are in the process of a legal Polexit which is taking place step by step,” Adam Bodnar, Poland’s independent human rights ombudsman said after the ruling.

\n","isDeleted":false,"publishDate":"07/15/2021 00:00:00","createdDate":"07/15/2021 12:42:47","webPage":{"id":72185,"name":"Polexit-fears-heightened-as-Warsaw-flouts-EU-ruling","header":"","metaTitle":"‘Polexit’ fears heightened as Warsaw flouts EU ruling","metaKeywords":"Poland, EU, Warsaw, flag, Europe","metaDescription":"Poland’s membership of the European Union tumbled into uncertainty as judges defied a European court order to reverse a number of its contentious judicial reforms.","isDeleted":false,"createdDate":"07/15/2021 12:42:47","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1083,"blogId":550,"blogCategoryId":16,"blogCategory":{"id":16,"category":"Politics","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_c526b914-0764-4d48-8cea-bd9a0ad49311.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_c526b914-0764-4d48-8cea-bd9a0ad49311.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_c526b914-0764-4d48-8cea-bd9a0ad49311.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_c526b914-0764-4d48-8cea-bd9a0ad49311.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_c526b914-0764-4d48-8cea-bd9a0ad49311.jpg"}]},{"id":549,"title":"Hungary’s economy back to pre-pandemic level in 2021: Minister","author":"","summary":"Hungary’s Finance Ministry forecasts the economy could revert back to its pre-pandemic level this year.","body":"

\"\"Hungary’s Finance Ministry forecasts the economy could revert back to its pre-pandemic level this year.

\n\n

This is according to the country’s Finance Minister Mihály Varga this week following an Ecofin meeting.

\n\n

However, in contrast, the European Commission predicts the economic performance of EU member countries will only return to pre-pandemic levels by the end of next year.

\n\n

Varga stated that within its summer economic forecast, the European Commission hiked its GDP growth forecast for Hungary to 6.3% in 2021, from a 5% prediction in the Spring, reports the Budapest Business Journal.

\n\n

In addition, the EC forecasts 4.8% GDP growth in 2021 for the European Union as a whole.

\n\n

Whereas in 2022, the EC predicts GDP will increase by 5% in Hungary, and by 4.5% in the EU as a whole, the Finance Minister added.

\n\n

During the Ecofin meeting, Varga and his counterparts were informed of the outcome of the meeting of G20 finance ministers and central bank chiefs. Varga went on to say that the OECD’s proposed Two-Pillar Solution in relation to a global minimum corporate tax rate is still far from satisfactory for Hungary and "we continue to reject any international solution that restricts fair tax competition."

\n\n

Furthermore, regarding Hungary's Recovery and Resilience Fund (RRF) plan filed for evaluation to the European Commission, the Finance Minister said discussions are in place between Hungarian and EU authorities. 

\n\n

Varga added Hungary’s financing is secure, the economy is functioning, and the EU’s late approval of the recovery plan doesn’t jeopardise the application of Hungarian programs.

\n","isDeleted":false,"publishDate":"07/15/2021 00:00:00","createdDate":"07/15/2021 09:29:59","webPage":{"id":72184,"name":"Hungarys-economy-back-to-pre-pandemic-level-in-2021-Minister","header":"","metaTitle":"Hungary’s economy back to pre-pandemic level in 2021","metaKeywords":"Hungary, Finance Ministry, pandemic, market update","metaDescription":"Hungary’s Finance Ministry forecasts the economy could revert back to its pre-pandemic level this year.","isDeleted":false,"createdDate":"07/15/2021 09:29:59","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1082,"blogId":549,"blogCategoryId":1,"blogCategory":{"id":1,"category":"Market Update","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_373216be-6da2-4d85-a0e9-321bc39c26a1.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_373216be-6da2-4d85-a0e9-321bc39c26a1.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_373216be-6da2-4d85-a0e9-321bc39c26a1.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_373216be-6da2-4d85-a0e9-321bc39c26a1.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_373216be-6da2-4d85-a0e9-321bc39c26a1.jpg"}]},{"id":548,"title":"Life insurance – is it really that important?","author":"","summary":"According to stats, only 57% of people have life cover, and 70% of those are underinsured. ","body":"

\"\"According to stats, only 57% of people have life cover, and 70% of those are underinsured. This leaves their families with inadequate cover and in financial distress when they pass on.

\n\n

Life cover is essential to ensure that your family and loved ones are taken care of in the unfortunate event of your demise, whether during your working life or during retirement.

\n\n

Why do you need life cover?

\n\n\n\n

Kinds of Life Cover

\n\n\n\n

For many, life cover is a thing that seems very far away or a waste as you never see the results, but not having it will be far more detrimental for the ones you leave behind. Chat to your adviser to find the life cover that best suits your current circumstances and protects your assets. warsaw@devere-europe.com    budapest@devere-europe.com    prague@devere-europe.com

\n\n

* https://www.which.co.uk/money

\n\n

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere adviser for a personal consultation.
\n* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.

\n","isDeleted":false,"publishDate":"06/23/2021 00:00:00","createdDate":"06/23/2021 16:16:24","webPage":{"id":72183,"name":"Life-insurance-is-it-really-that-important","header":"","metaTitle":"Life insurance – is it really that important?","metaKeywords":"Life assurance, insurance, life insurance, blog, Europe","metaDescription":"According to stats, only 57% of people have life cover, and 70% of those are underinsured. ","isDeleted":false,"createdDate":"06/23/2021 16:16:24","websiteId":66,"webPageTypeId":6},"blogCategoryBlogs":[{"id":1081,"blogId":548,"blogCategoryId":11,"blogCategory":{"id":11,"category":"Life Assurance","isDeleted":false,"createdDate":null}}],"images":[{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/original_2be9559a-9b6d-4eab-916f-103dfcc003dc.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/large_2be9559a-9b6d-4eab-916f-103dfcc003dc.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/medium_2be9559a-9b6d-4eab-916f-103dfcc003dc.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/small_2be9559a-9b6d-4eab-916f-103dfcc003dc.jpg"},{"fullFilePath":"https://cmsdevere.blob.core.windows.net/images/og_2be9559a-9b6d-4eab-916f-103dfcc003dc.jpg"}]}],"isSuccess":true,"exception":null,"currentUsername":null,"targetUsername":null,"machineName":null,"milliseconds":101}