LV= customers to receive new Pension Passport

Rachel Lacey

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LV= has teamed up with the Treasury to offer retiring customers a new pension passport in lieu of the current 'wake-up' packs currently sent out by all providers.

LV= has teamed up with the Treasury to offer retiring customers a new pension passport in lieu of the current 'wake-up' packs currently sent out by all providers.

The pension passport will be a simple one-page document summarising how much the policy is worth, who the provider is, and whether any special terms apply – for example a guaranteed annuity rate.

LV= customers to receive new Pension Passport

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LV= has teamed up with the Treasury to offer retiring customers a new pension passport in lieu of the current 'wake-up' packs currently sent out by all providers. The pension passport will be a simple one-page document summarising how much the policy is worth, who the provider is, and whether any special terms apply – for example a guaranteed annuity rate. Recipients will also be urged to book an appointment with the government's free guidance service Pension Wise and encouraged to shop around before purchasing any retirement income product. Greater choice Phil Brown, head of Retirement Proposition and Change at LV=, who has spearheaded the insurer's campaign, said: "People spend a lifetime building up their pension funds and we want to encourage them to make the most of their pots. The pension changes means that those pension savers now have greater choice as to how they take an income from their pots and we have been working with the Cabinet Office's Behavioural Insight Team to ensure that the information we provide is sufficient enough to encourage them to shop around for the right solution or combination of solution for their needs." The wake up packs pension providers are currently required to send out to policyholders are designed to give retirees an indication of what their pension is worth and how much income it can be expected to provide. It should also tell people that they have the right to shop around for an annuity. However, the packs – which are usually sent out six months before people are due to retire – have long been criticised for being too long, jargon-heavy and failing to adequately explain the open market option which frees customers to use their pension to purchase an income from a rival provider. The aim of the pilot is to see if the new simpler documentation increases levels of engagement amongst retirees and if successful could replace the wake up pack altogether. A spokesman for the Treasury said: "We have been working closely with LV= and other stakeholders to develop a 'pension passport' that will simplify and clarify people's pension information, helping them to make an informed choice about their savings. The trial has started and will take place over the coming months."

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Hargreaves Lansdown launches retirement planning service

Michael Trudeau

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Investment platform and advisory company Hargreaves Lansdown has launched a flat-fee retirement planning service for those unwilling or unable to pay for full financial advice.

Investment platform and advisory company Hargreaves Lansdown has launched a flat-fee retirement planning service for those unwilling or unable to pay for full financial advice.

Hargreaves Lansdown launches retirement planning service

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Investment platform and advisory company Hargreaves Lansdown has launched a flat-fee retirement planning service for those unwilling or unable to pay for full financial advice. Charging £395 plus VAT, the HL Retirement Planning Service aims to scoop up some of the hundreds of thousands of people set to retire each year who might want personalised advice on how best to set up their retirement income arrangements, but are unwilling or unable to pay the estimated industry standard of around £1,000 for retirement advice. Customers will start the process by completing a questionnaire, followed by a printed report and an hour's phone conversation with an HL adviser. The report will contain summaries of the main issues for the investor to consider and includes a prediction of cash flow in the future. 'Sense check' However, although the service counts as financial advice, it stops short of giving customers a specific personal recommendation - which specific products to invest in, for example. The adviser will give customers a 'sense check' of their plans, and help them decide which mix of options to use. "The pension freedoms have fundamentally changed the pension system, overturning many established conventions around how and when investors draw on their retirement savings,' says Hargreaves' head of pensions research Tom McPhail. "The Pension Wise service provides investors with an invaluable introduction to the key issues they need to think about. The HL Retirement Planning Service takes investors a stage further than Pension Wise, walking them through the issues they need to consider when setting up their retirement income."

Find the best Pension Funds available on your selected pension platform

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Can You Make Money Online Using Product Report Card?

By Kimi Clark Product Report Card- maybe you’ve heard of it. But the big question is, can you make money online using Product Report Card? Let me share a little info with you so you can decide for yourself. Product Report Card is a site that allows you to sign up to receive paid survey […]

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How to Start Making Money as a Freelance Writer: A 3-Step Process

If you’d told me a few years ago that I’d be earning six figures online as a freelance writer, I would have thought you were crazy.

After all, I had no writing background, no relevant education and no network — all things I thought were prerequisites to launching a writing career.

But then, after finding myself unemployed in the summer of 2012, I set out to find an easier way. Since then, I’ve figured out that getting paid to write these days is less about credentials, degrees and who you know, and more about being motivated, resourceful and knowing where to look for work.

Ready to become a well-paid writer? Here’s what worked for me.

Step 1: Go Where the Fish Are

The biggest hurdle in becoming a freelance writer used to be finding people who’d pay you to write.

But I’ve found that online freelance marketplaces — like Elance or Upwork — totally remove this barrier, letting you easily apply to any of the thousands of writing gigs posted by real clients everyday. These sites can be pretty competitive, and they tend to feature lots of low-paying jobs, but if you choose carefully and use the approaches I lay out in this post, you can still make good money while doing work you enjoy.

Another thing that’s great about online freelance marketplaces is that you can find jobs that don’t require any formal experience or training.

For example, my first job was writing short, templated children’s stories — basically the writing equivalent of “paint by numbers.” Just about anyone could have done it, and it was a great way for me to get my feet wet and earn some quick money ($340 by the end of my first week… not bad for a guy with just a laptop and a bank account!).

Step 2: Create a Targeted Writing Sample

OK, here’s the elephant in the room: I had absolutely no examples of previous work to show to potential clients on Day 1.

This can seem like a big hurdle when you’re starting out, but it’s really not.

It turns out most clients don’t care if you have a “complete portfolio” (whatever that means). I’ve found that a single, short writing sample is often enough to get you hired, as long as it’s closely related to the gig you’re applying for.

This makes sense when you think about it, since writing jobs tend to vary pretty wildly from one another. So when it comes to showing off your writing samples, relevance is far more important than quantity.

Think of it like ordering a wedding cake: If you want a unique flavor, then you’re probably going to choose a confectioner who can offer you a sample of a cake that’s the most similar to the flavor you’re imagining.

Based on this psychology, I took an unconventional but extremely effective approach to applying for writing jobs online.

If a job description called for an article about, say, the health benefits of coffee, I’d write up a short article that talked about the health benefits of red wine, and show that to the client as proof that I could complete the job. (Note that my sample in this case was a similar “flavor” to what the client needed, yet still different enough that it wouldn’t be misunderstood as a “free sample.”)

This strategy paid off, big-time. My writing samples grabbed clients’ attention and got me hired for lots of gigs, including ones that paid $40-$50 per hour.

Step 3: Write a Super-Simple Proposal

So you’ve found a writing gig that sounds interesting, and you’ve got a relevant sample ready to go.

Now, it’s time to write a proposal — this is essentially your job application, but we’re going to make it very short and simple — and attach your writing sample to it.

Remember, I started off with no experience, so I had to take the focus off of me (a good practice for seasoned writers too, since clients don’t want to hear all about us), and let my highly targeted writing sample do the selling for me.

Instead of writing a long, detailed proposal about myself and my work history, I just banged out a few sentences letting the client know that I’d attached a writing sample that was very similar to what they were looking for. (Remember, relevance is key.)

That’s it.

If you put yourself in the client’s shoes, you’ll realize that although this “pitch” is ridiculously simple, it’s also very hard for them to resist. They’re likely to read your sample even if only out of curiosity at that point!

And once they do, you’ve got a good shot at winning that job, since, as we discussed earlier, your sample will probably be the most relevant one they receive.

Will You Try This System?

There you have it: the exact 3-step process I used to go from zero to well-paid writer, while never having to send out a single cold-email or do an ounce of networking.

There are two things I’d like you to take away from this post:

1. Earning a good income from writing is totally doable, even if you’re starting with no experience, and
2. It doesn’t have to be as complicated as most people think.

So if making money writing is something that interests you, I hope you’ll give it a shot.

Your Turn: If you’re a freelance writer, how did you get started? Share your strategies in the comments!

Danny Margulies is a six-figure freelance copywriter on a mission to help others succeed as well-paid writers. Get his top 5 hacks for making money on Elance, totally free.

The post How to Start Making Money as a Freelance Writer: A 3-Step Process appeared first on The Penny Hoarder.

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SBS puts shows on chopping block

THE multicultural broadcaster says it will be forced to cut programs after its bid to screen more ads was rejected.

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Court slaps Wynn with $422,389 in fees & costs

Casino baron Steve Wynn is no stranger to self-inflicted wounds. He just suffered another one in his ill-advised slander lawsuit against stock market short-seller James Chanos.

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Australia to join Asian bank

TREASURER Joe Hockey will travel to Beijing on Monday to formally sign up to the Asian Infrastructure Investment Bank, joining 56 other countries.

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Proposed work at Red Rock includes new scenic loop escape route

Planning is underway for a new road and other improvements aimed at easing congrestion at Red Rock, which gets more than 1 million visitors each year.

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Lakes Entertainment shareholders OK merger with Golden Gaming

Lakes Entertainment shareholders approved the company’s merger with Las Vegas-based tavern and slot machine route operator Golden Gaming during a vote on June 17, the company said in a securities filing.

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How to Discover Your Financial Grit

You might be under the illusion that financial success is all about smarts.

Nope. Think again.

You can be the smartest mathematical guru in the world and find yourself broke.

Why is this?

Don’t all the smart people get the best-paying jobs and a Lamborghini or two?

Isn’t it the smart people who can shrug their shoulders at briefcases full of cash because their portfolios are too big for the hassle of making the deposit?

Well, not exactly.

I’ll let you in on a little secret.

You know what the secret sauce is to financial success?

It’s grit, and I’m going to show you how to get it.

What’s Grit Anyway?

Look it up in the dictionary and you’ll find words like courage, resolve, strength, and character.

I don’t know about you, but when I hear that someone has grit, I picture a tough, rough war hero pressing forward despite unspeakable odds.

I picture a weathered sailor in the perfect storm riding the crest of a 100-foot wave destined for glory. I picture someone who doesn’t stop even in the face of danger or failure. I picture a Soldier of Finance.  

That’s grit, my friends.

The Importance of Grit

The interesting thing about grit is that it’s actually one of the most important qualities to have in academics. Smarts only takes you so far – grit takes you beyond the limits of your mental abilities.

In an article by Emily Hanford, writing of Angela Duckworth and the research on grit, she writes:

In one study, Duckworth found that smarter students actually had less grit than their peers who scored lower on an intelligence test. This finding suggests that, among the study participants — all students at an Ivy League school — people who are not as bright as their peers “compensate by working harder and with more determination.” And their effort pays off: The grittiest students — not the smartest ones — had the highest GPAs.

Hard work. Determination. These are ideals that have proven themselves to be valuable over and over again.

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If you want to do anything notable in life, it’s probably going to require some grit.
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Tenacity is highly valuable. And when it comes to finances, you’re going to need a huge helping of it.

Financial Success and Grit

I believe there is a strong correlation between financial success and grit. Let me explain.

Americans are up to their eyeballs in debt. You should hear some of the stories I hear on a regular basis. While many of my clients come into my office to talk about their investments, inevitably we get on the subject of debt – which genuinely needs to be addressed as part of their overall financial strategy.

Student loans, credit cards, mortgages, business loans – every piece of debt my clients hold is a liability that takes away from their ability to invest and make money on their money. Many times, debt becomes an overwhelming burden in the lives of my clients, and they can’t see a way out.

The problem with debt is that while it’s pretty easy to learn how to get out of it, doing so is another matter altogether. It takes well-estabilished grit to sacrifice the majority of discretionary expenses and put in the extra hours at work to have enough money to make a real dent in the problem of debt.

Whether you’re trying to overcome burdensome debt, find a suitable career, or develop a well-balanced investment portfolio, you’re going to need some serious grit.

The truth is financial success requires a deep commitment to a set of ideals not just at the beginning of the journey, but over the long haul through everything that life throws in one’s path.

How to Grab Some Financial Grit

How do you develop grit in your financial life? I have a few suggestions . . . .

1. Work up to larger goals.

If you want to develop some financial grit you can’t start out by tackling nearly impossible goals. If you do, failure will stomp on your dreams and you might slip into inaction.

Instead, start on a few small, attainable financial goals. For example, you might begin by creating a budget that actually works. Don’t try to become an overnight millionaire, start wherever you’re at on your financial journey.

Over time, once you have the foundational pieces of financial planning in place, you can work up to learning how to invest with confidence or start your own business.

2. Decide who you’re going to become.

If you feel you’re timid and don’t take many risks, it’s time to change how you view yourself. If you tell yourself day after day that you’re a nobody and you’re not going to amount to anything, well, you’ll probably fulfill your own prophecy.

Decide who you’re going to become. Who do you want to be? If you could start fresh, what would you do?

Never let who you’ve been determine who you become. Do you think I was born with my own business and a career I love? No way! I had to fight to get to where I am today. The good news is you can do the same.

3. Practice getting back up after failures.

If you can learn to get back up after failures, you’ll find some grit.

Failure is often found on the path to success.

Theodore Roosevelt once said:

Far better is it to dare mighty things, to win glorious triumphs, even though checkered by failure . . . than to rank with those poor spirits who neither enjoy nor suffer much, because they live in a gray twilight that knows not victory nor defeat.

Don’t be afraid of failure! It will happen. Develop some grit by pressing on.

4. Develop a strong support system.

Sometimes the only way you can get through a difficult situation is with the help of others. Your grit coupled with the strength and wisdom of others might just be the recipe to get you through rough times.

That’s why I highly recommend developing a strong support system. Regardless of how much grit you can muster up, there will be occasions you’re going to need to rely on a friend or loved one.

When you do, you’ll realize that not only can others help you get through a difficult financial situation like going through a costly divorce, enduring a stock market crash, or watching your business dissolve into nothing, but people can encourage you to get gritty and march forward.

Financial grit will help you find a great deal of financial success. Remember, it’s not about smarts, it’s about how determined you are to reach your goals and stick with the plan even when trials and tribulations come your way.

Go with grit!

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Study: Top Performing Email Campaigns Generate 1 Forward For Every 21 Emails Opened

Email analytics company Litmus analyzed 400,000 email campaigns to identify benchmarks around email virality based on foward-to-open rates.

Please visit Marketing Land for the full article.

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SLS Las Vegas awash in red ink, reports $35m quarterly loss

The Strip resort formerly known as The Sahara lost $35.3 million in the first quarter.

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Las Vegas jobless rate under 7 percent for first time since recession

May marked the first time since 2008 that Nevada’s three metro areas — Las Vegas, Reno and Carson City — all posted jobless rates below 7 percent.

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Economist Puts Obamacare 'Fantasy' to the Test

As the Supreme Court prepares to rule on the legality of Obamacare subsidies, economist Stephen Moore says the notion that law is working is a "fantasy" - and he can prove it.

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Amazon Echo Now Available To All, Shipping Starts July 14

Invites are no longer needed for Amazon's home-based personal assistant that offers voice search, shopping and more.

Please visit Marketing Land for the full article.

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YP To Spinoff Print Yellow Pages Business, Stay Focused On Digital

Though dividing into two companies, both will share a common sales force. YP-branded local yellow pages will continue to be distributed.

Please visit Marketing Land for the full article.

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GLPI likely to marry Pinnacle Entertainment — will it be a shotgun wedding?

At some point — if we’re reading the signs correctly — regional casino operator Pinnacle Entertainment will marry itself to real estate investment trust Gaming and Leisure Properties Inc. Wall Street hopes this isn’t a shotgun wedding.

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Banks’ dodgiest fee under microscope

IT’S the infuriating bank fee you are forced to pay, which bears no resemblance to the cost of providing the service. Now, two key politicians want to shut it down.

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Marketing Day: Instagram’s New Search Options, Facebook Tests Recognition Tools & More

Here's our recap of what happened in online marketing today, as reported on Marketing Land and other places across the web.

Please visit Marketing Land for the full article.

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Union Metrics Launches Multi-Channel Reporting & Adds Facebook Analytics

Company now offers combined metrics dashboard for Twitter, Instagram, Tumblr and the social network.

Please visit Marketing Land for the full article.

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