Post-Brexit vote rebound sees FTSE 100 set for biggest weekly rise since 2011

Brokers react on a trading floor at BGC, in the Canary Wharf financial district of London, Britain June …

 

People walk through the lobby of the London Stock Exchange in London, Britain November 30, 2015. REU …

LONDON (Reuters) - Britain's top share index rose for a fourth straight session on Friday, leaving it set to post its biggest weekly rise in 4-1/2 years as banks rebounded after a sell-off following Britain's vote to leave the EU.

Britain's FTSE 100 <.FTSE> was up 15.12 points, or 0.3 percent, at 6,519.45, taking gains on the week to 6.2 percent. That left the index set for its biggest weekly gain since December 2011.
Following a two day sell-off after Britain voted to leave the EU in a referendum last week, the FTSE 100 has rebounded strongly, led by rises in its dollar earners and commodity stocks, which are insulated from uncertainty over the domestic economy.
On Friday the big risers were banks <.FTNMX8350>, up 1.2 percent overall, with Lloyds , Barclays and RBS each up 2-3 percent.

Although the sector remained 10 percent lower since the referendum, it was buoyed after Bank of England Governor Mark Carney said on Thursday the central bank would probably need to pump more stimulus into Britain's economy over the summer after the shock of the Brexit vote.

(Reporting by Alistair Smout; Editing by Gareth Jones)

Culled from Reuters

This woman retired at 33 and is traveling the world without going broke

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By the age of 33, most people are in the middle of their careers, buying homes, raising families and stashing money away for retirement — which is more than 30 years away.
That is, unless you’re Anita Dhake, who retired from her law career at 33, packed up her stuff and started traveling the world. So far, she has visited countries like including China, Australia, Spain and Brazil, and doesn’t plan to stop until she has checked everything off her bucket list.
It might sound like a spontaneous decision, but in an interview with Forbes, Dhake shares how her journey actually started with a “light bulb” moment in 2009 when she was interviewing for jobs at big law firms in Chicago.
“I remember learning about the salary and asking a friend, ‘If I make four times what the average person makes, can’t I retire four times earlier?’” she said. 
Her friend assured her that early retirement didn’t work that way, but Dhake would go on to prove him wrong. She got a job when she graduated from law school in 2009, but her firm offered her a deferral year because of the struggling economy and paid her a third of her salary to use as she pleased. Dhake traveled, which cemented her desire to travel more.

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In October 2010, Dhake started work. The hours were long, but with a base salary of $160,000 a year and bonuses, it took her just one year to pay off $100,000 in student loans. Once she eliminated her debt, she focused her efforts on saving every penny, a task made easy thanks to her simple lifestyle.
“I hated shopping and was always a natural saver. I had a roommate. I brought my lunch to work almost every day,” she told Forbes. “All of my clothes are hand-me-downs from my older sisters. I biked, walked, or took public transportation. I didn’t have a car.”
Her goal was to save $450,000. Within four years, Dhake saved an impressive $700,000, thanks bonuses and yearly raises. 
With her financial goal reached – at 33 – Dhake quit her job. She says that people were skeptical of her decision – even her mother – so she started a blog called The Power of Thrift, so that people who questioned her choices could see how it’s possible to retire young and travel.
“The law firm wasn’t paying me because I knew things. They were paying me for my life. I felt pressured to put work above family, friends, sleep, vacations and everything else,” she said. “At the time, I thought I was getting the better end of the deal — $160k for a year of my life? Heck, yeah! Now, I realize I only have one life and I’ll never get it back.”
Dhake started traveling in 2013, and her freedom allows her to choose countries that she’s never visited before. She’s lived in Australia, ate her way through Thailand and enjoyed the lively streets and cultural diversity of Brazil. She is currently visiting Norway, her 49th country, and has no plans to stop country-hopping in the near future.

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Dhake spends about $1,500 to $2,500 a month, although her budget greatly depends on what country she’s visiting and accommodations. Even so, she spends about $24,000 year. The only other major cost Dhake has is her private health insurance that has a high deductible.
“The only money I currently make is from dividends (and the appreciation from my investments). Eventually, I may try to monetize my website,” she said
Dhake’s story is certainly unique, and some may minimize her success because she was making more than three times the average US income of $53,657 before she retired. To that, Dhake expresses her belief that salary is secondary to discipline.
“I knew people who made my salary and spent every penny. They will never retire,” she said. “It will definitely be harder if you make less, but it’s doable. Embrace the thrifty lifestyle: You’ll find that you don’t need that much.”
The money Dhake saved should last about 30 years (at her current rate of spending), and she admits that one day she might consider re-entering the workforce. Working in a factory is one of the items on her “bucket list,” and she thinks that one day it might be fulfilling to start her own business. In the meantime, though, she’s living her golden years, now.
“I’m enjoying traveling, reading, sleeping in — and not working.”

Culled from Yahoo

Can I share my husband’s Social Security benefit if he leaves me?-By Philip Moeller

Q: I am on disability. My husband is having his Social Security check and retirement checks deposited …

Q: I am on disability. My husband is having his Social Security check and retirement checks deposited directly to his account. He has been saying he is going to leave. We are still married, and if he leaves, he doesn’t want a divorce. Can I draw off his Social Security and be able to get any of his retirement benefit? I just don’t trust him anymore. I don’t know what he is going to do next! He also is sending all his income stubs to a post office box! — Becky

A. I am so sorry to hear about your situation. I can’t begin to imagine how hard things must be for you amidst all the uncertainty. Your husband is supposed to be your best friend and partner, not someone you can’t trust and who may ruin your life.
First, you need to fight fire with a little bit of your own! Open your own checking account. Have your disability payments sent there.
If you feel things are close to rock bottom, consider getting an attorney to help you protect your interests. I realize this will be expensive, but not having legal advice will cost you far more in the long run.
The good news is that you may be able to receive Social Security benefits based on your husband’s earning record. When your husband filed for his retirement benefits, his action entitled you file for your own spousal benefit, which you’re eligible to collect starting at age 62. If you do file at 62, your payment will be reduced from its maximum amount, which is available if you claim at full retirement age (FRA)—that’s age 66 right now. Normal retirement benefits increase until at age 70 but spousal benefits max out at FRA.
How large a payment can you receive? At their maximum, spousal benefits equal half of what your husband’s own retirement benefits would be at his own FRA. Even if he has filed for his own retirement early, your spousal benefits are still pegged to what your husband would have received if he had waited till FRA.
Since you are already receiving disability payments, however, that will limit the amount of additional payment your receive through the spousal benefit—you don’t get the full amount of both benefits. (Disability payments convert into a regular retirement benefit at FRA, but the amount remains the same.) If your spousal benefit is greater than your disability benefit, you’ll receive the excess amount on top of the disability payment.
But it your disability payment is the larger of the two, you would collect no additional payment, and there really is no reason to file for a spousal benefit. But if you’re younger than FRA, check to see what the payment would be when you reach full retirement age. The increase might make it worthwhile to wait until then to file your claim.

To file for a spousal benefit, call your local Social Security office and make an appointment. Even if your husband will not disclose his FRA payment, the agency must look this up for you when you file for a spousal benefit.

Culled from Money