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Eight steps you must take to avoid midlife money meltdown

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The march of AI into the workplace has led to well-founded fears that the equal opportunities women fought so hard to win are being bulldozed in front of our eyes, writes Ruth Sunderland

For middle-class women of a certain age, redundancy, divorce and illness are the triplet of financial torpedos that can blow up a previously comfortable existence.

When the solid-seeming foundations supporting our lives are ripped away, the emotional and financial fall-out is profound.

No one, male or female, is immune to shocks. But women face particular challenges in bouncing back.

The march of AI into the workplace has led to well-founded fears that the equal opportunities women fought so hard to win are being bulldozed in front of our eyes.

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Women aged over 55 are being overtaken in their careers by young, male tech bros, according to recent research by Google. Even the most tech-savvy can find their CV thrown in the digital bin by sexist bots who couldn’t care less about decades of achievement.

Which is why an article in the Daily Mail last week by fifty-something former fashion editor Stacey Duguid struck such a chord with so many of her peer group.

Stacey’s problems finding a job after taking time off work following a divorce plunged her into a stomach-churning downfall from a six-figure salary to the JobCentre.

None of us is immune from a financial shock, no matter how enviable our careers – but it need not turn into a full-blown midlife money meltdown. A descent like Stacey’s is every middle-class woman’s worst nightmare and I’m not going to pretend to have a magic set of answers.

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The march of AI into the workplace has led to well-founded fears that the equal opportunities women fought so hard to win are being bulldozed in front of our eyes, writes Ruth Sunderland

However, I have navigated potential financial crises myself, including my husband’s cancer diagnosis and, more recently, my move from a full-time executive job to starting my own business.

My message, based on my experience and 30 years of writing about money, is this: the more financial control and confidence a woman acquires, the greater her chances of surviving life’s disasters and maybe even coming out stronger.

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This is not merely a feminist manifesto. The more financially resilient we are, the better we can step up for our families.

My mum’s earnings as a teacher kept our household afloat when my father was made redundant in the 1990s. Similarly, I was thankful to able to act as breadwinner when my husband was laid low with cancer. I’ve talked to three female financial experts – and one male one – on how to beat a midlife money meltdown.

Knowledge is power

‘One of the best ways for women to build resilience is to take an active role in your finances,’ says Clare Moffat, tax and pensions expert at Royal London.

In other words, if you have a partner, do not leave the finances to them. Ideally, have open, regular conversations about money and be aware of one another’s savings, investments and debts.

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‘Financial independence isn’t about having to manage everything on your own. It’s about having enough knowledge and confidence, so you’re not left in the dark if circumstances change,’ adds Moffat. ‘Taking decisive action can help protect your financial future.’

Stacey Duguid has faced problems finding a job after taking time off work following a divorce

Stacey Duguid has faced problems finding a job after taking time off work following a divorce

Control your spending

Going through your outgoings to identify wasteful and needless spending is a good regular practice.

Why are you paying for a subscription you haven’t used for years? Check out comparison sites to see if you can cut bills. The boss of Moneysupermarket.com’s parent company told me last week that his customers collectively saved around £3 billion last year by using the site.

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Almost all of us could pare back on household bills. That money can be put to work for you to build financial muscle for the future.

Thinking of safety first

A girl’s best friend is not diamonds but an emergency fund.

Financial advisers recommend setting aside six months to a year’s outgoings.

That sounds a lot – but even small, regular amounts accumulate over time.

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How much is enough really? Lisa Doig, a financial adviser with Thorntons Wealth, says: ‘It’s all relative to your wealth, but £20,000 is a comfortable amount for many. That would cover a new boiler, a deposit for a car and so forth.’

Building up some wealth 

Having a cash emergency fund that you can access quickly is essential. The problem with deposit accounts, however, is they have a nasty habit of losing value because of inflation. The best way, therefore, to accumulate long-term wealth is to invest in stocks and shares.

'One of the best ways for women to build resilience is to take an active role in your finances,' says Clare Moffat, tax and pensions expert at Royal London

‘One of the best ways for women to build resilience is to take an active role in your finances,’ says Clare Moffat, tax and pensions expert at Royal London

It’s possible to do this with small, regular sums from £25 a month. Spread the risk by buying funds such as investment trusts that hold a collection of shares and other assets. If you use an Individual Savings Account (Isa), it’s tax-free.

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‘Research suggests that women are actually better investors than men,’ says Richard Watkins, a chartered financial planner at Continuum. ‘They trade less, leave ego and emotion out of decisions and plan for the long term.

‘This results in better performance of around 0.8 pc a year, which might not sound much but turns into a significant outperformance over 20 years or more.’

If you start in midlife, you might even become an Isa millionairess.

Take inspiration from Jane Barr, now 77, who retired in her 50s after a divorce. She built up a portfolio worth just over £2million in her Isas by investing regular amounts from her modest salary, as she explained to my colleague Jeff Prestridge.

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Prioritise pensions

Never neglect your pension. It is essential for the fabulous ‘future you’ who will emerge from the current crisis.

Because of generally lower pay and career breaks to care for children, women typically retire with savings worth around 55 pc less than men.

So pay as much into a pension plan as you can, whenever you can.

In an ideal world, women would have been building their financial strength gradually, so that when a trauma strikes they start off well-equipped to handle it. Even if that is not the case, midlife is not too late to bounce back.

In an ideal world, women would have been building their financial strength gradually, so that when a trauma strikes they start off well-equipped to handle it. Even if that is not the case, midlife is not too late to bounce back.

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If you work for an employer, you will benefit from free payments from them into your plan, as well as tax relief on contributions at your highest rate.

‘Making pension saving a priority throughout your career, and being confident about negotiating pay and progression, can make a significant difference to financial security in later life,’ says Moffat.

In divorces, pensions are often overlooked, even though they are usually the biggest asset after the family home.

As a consequence, divorced women reach retirement with around 61 pc less private pension wealth than divorced men. Don’t let that be you.

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Know your rights and make sure you get what you’re entitled to. There are three main options when dealing with pensions in a divorce. You can share them on a clean-break basis, one partner can earmark some of the income to be paid out after retirement or you can offset their value against other assets.

If you are made redundant and don’t need to use your entire settlement, it may make sense to stash some of it in your pension, particularly if you are close to the age of being able to draw on it.

You can pay up to £60,000 or 100 pc of your annual earnings, whichever is the lowest, into your pension each year.

That will boost your retirement income and save tax.

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‘Paying part of a redundancy package into a pension can be a tax-efficient option,’ adds Moffat.

If you are aged 55 or over, you can start drawing your private pension, but bear in mind that means less in the pot for later.

Invest in yourself

The best investment you can make is in yourself.

Up-to-date skills are crucial for midlife women. Mid-level admin and service roles typically held by women are under particular threat from AI.

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Kate Alessi, the boss of Google in the UK and herself a midlife woman, recently commissioned research that found only 4 pc of women aged over 55 are advanced AI users.

She says: ‘There is a risk existing inequalities will become more entrenched, so it’s important we address this, but the good news is that it is very solvable. It is quite simple for anyone to use AI skills.’

For details of online AI courses, including for beginners, see the government hub: aiskillshub.org.uk/aiskillsboost/ or type grow.google into your search bar.

Even if you feel secure in your career right now, it is worth keeping your professional profile up to date on LinkedIn and other networking and job sites. Invest in real-life friendships and professional contacts.

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Human beings who know how brilliant you are will be far more likely to help you find work than a sexist, ageist bot.

Self-employment is another route. I’m working like a demon now I am in business for myself, but I love being my own boss.

Don’t panic

The immediate period after a trauma is not an ideal time to make big financial decisions such as selling a property.

Wait until emotions have calmed and consider consulting a professional financial adviser.

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‘I often work with women going through divorce in midlife, mainly coming out of long marriages and not used to handling the finances,’ says Louise Oliver, a financial expert at Piercefield Oliver.

‘They reach out to me as an expert and they often feel safer with me being a female financial planner.’

Unfortunately, only 16 pc of advisers are female, according to Louise, who adds: ‘The same emotions and principles can apply to redundancy.’

Richard Watkins advises keeping a sense of perspective. In most cases, he says women can handle midlife shocks without a catastrophe.

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‘Full-on money meltdowns among professional women are actually fairly rare in my experience,’ he says.

‘Women today can earn more and may inherit more than their mothers did. In my experience, professional women are articulate and well able to act on financial matters.’

Divorce, redundancy or both in midlife may feel like the end of the world. But Lisa Doig says: ‘It doesn’t have to be.

‘I am on my second divorce and it’s actually a happy one.’

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You can obtain free information from organisations such as the government-backed Pension Wise, but not advice or recommendations.

For individual advice to fit your personal circumstances, you need a qualified adviser regulated by the Financial Conduct Authority.

You can find an adviser on websites such as unbiased.co.uk or vouchedfor.co.uk, which show details of companies in your area or that suit your needs.

Initial meetings with a financial adviser, lasting an hour or so, are usually free. That is a very useful resource, but keep in mind an hour isn’t long when discussing decisions that could shape the rest of your life.

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It’s not too late

In an ideal world, women would have been building their financial strength gradually, so that when a trauma strikes they start off well-equipped to handle it.

Even if that is not the case, midlife is not too late to bounce back.

‘Financial resilience isn’t built overnight, but small steps taken today can make it much easier to cope with whatever life throws at you tomorrow,’ says Moffat.

‘A setback in your 40s or 50s doesn’t mean you can’t rebuild.’

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5 tips to survive and thrive

Take stock: Get a clear, unemotional picture of debts, assets and spending. A short pause for breath will produce better outcomes than panic moves.

Consider independent advice: Heightened emotions can lead to poor decisions. Friends and family may not be objective. A professional adviser may be the answer.

Self-belief: Research from bodies such as the Financial Conduct Authority’s Financial Lives survey has repeatedly found that women report lower financial confidence than men, even when their underlying knowledge is comparable. That can lead to excessive fear and caution. Back yourself.

Rent a room: The Rent a Room scheme allows up to £7,500 a year tax-free for a single owner letting out a spare room in their main home.

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Monetise a hobby: A good friend began making money in her 60s from her hobby by offering workshops on how to make jewellery from sea glass. Baking, sewing, tutoring, photography and writing may all be ways of bringing in income. 

Have you survived a financial meltdown? Email moneymail@dailymail.co.uk

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Gemma Owen vows ‘I want to win now’ as Magnolia Cup charity race is won by super sub

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Daily Mirror

The ex-Love Islander, TV presenter, showjumper and daughter of footballer Michael Owen took part in the annual Goodwood event featuring 12 part-time riders

Gemma Owen finished fourth on her jockey debut when she took part in the Markel Magnolia Cup on Thursday, the annual charity race run at Goodwood.

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The influencer, international dressage rider and daughter of former England and Liverpool striker Michael Owen was one of the star names among the dozen women chosen for the popular event.

Owen prepared for the race at her Dad’s Manor House racing stables in Cheshire, guided by the former top professional jockey Franny Norton. Manor House’s trainer Hugo Palmer supplied her mount who was named Turbo Trotter for the day. But when the race started Gemma was left behind and by the time she got going, she had too much ground to make up on the leaders as she finished fourth.

“It was an amazing experience from start to finish,” she said. “He was an angel and he really looked after me, but that flag start is different as everyone’s bunched together and cutting each other up.

“My start wasn’t great; I got boxed in, but he travelled well, made up some good ground and finished strong. If I’d have a better start, it’d have been a different result.”

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She added: “I think I’ll go again. I want to win now, and I’ll probably end up doing another race so I can get that first place.

“Dressage is very concise and slow, and that was the complete opposite. Everything happened so quick, but I don’t know which one I prefer.

“I’ve loved the training and riding out, and seeing what goes on behind the scenes makes you appreciate the hard work that goes into it. I’ve a new found respect for jockeys, and I appreciate the sport a lot more since doing it. I’m never happy not winning, so you’ll see me back.”

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Victory was claimed by Imaam Rasul-Healer on Khor Al Adaid, trained by Scott Dixon. The 26-year-old who works at Kia Joorabchian’s Amo Racing yard in Newmarket only got a place in the race six days earlier after Molly Hunter, a reporter for the Press Association, was ruled out by illness.

“I had not done too much prep, got on him for the first time last Friday,” she said. “I’ve been in the process the whole way but at every single fitness test I seemed to be ill, or something was wrong.

“Then I fell off a two-year-old filly, hit my head, got a concussion and wasn’t allowed to do my final fitness test. I got the call last week and thankfully was fit to step in.”

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The race has raised more than £75,000 for Education Above All Foundation, a global education non-profit.

She added: “I’m only the second Muslim to win this and charity is a huge focal point of our religion.”

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Funeral director ‘ripped off’ vulnerable pensioners with fake funeral plans

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Funeral director ‘ripped off’ vulnerable pensioners with fake funeral plans

A court has heard Bush breached the trust placed in him by grieving families “on an almost industrial scale”, by keeping bodies for months after they should have been cremated, giving out the wrong ashes, taking money for funeral plans without making any of the arrangements, and stealing charity donations collected at services.

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Victims of Legacy boss Robert Bush ‘unable to get funeral plan refunds’

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Courtroom sketch showing a legal hearing in progress. A judge in a red robe is seen from behind in the foreground, facing several barristers wearing traditional black robes, white neck bands, and white wigs. One barrister stands at a lectern addressing the court while others are seated nearby. Robert Bush is seated behind a glass partition and other figures are in the public gallery. The image is rendered in a muted palette of grey, brown, and black tones, with the judge’s bright red robe providing a strong visual focal point.

Some victims of disgraced undertaker Robert Bush have not been refunded for fake funeral plans he sold to them, a court has heard.

The 48-year-old defrauded 172 people over 11 years to the tune of £562,000, Hull Crown Court was told.

He previously admitted 67 offences in relation to his business, Legacy Independent Funeral Directors in Hull, including failing to bury and cremate people, theft from 12 charities, fraudulent trading in funeral plans, and fraud.

On the fourth day of his sentencing hearing, one woman said her parents, who paid £2,649 each for funeral plans, were not alive “to see the justice they deserved”. Another said she had not been refunded £5,000 for two policies.

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This story contains details some might find distressing.

Wiping her eyes with a tissue, Maxine Hill told Mr Justice Hilliard the bank refused to refund the money fraudulently taken by Bush, whom she knew personally.

Bush visited both her parents, Margaret and John, in their own home and issued a handwritten receipt to her mother who paid him in cash.

The bank initially refunded the amount paid by Hill’s father but 90 days later, the bank took the money back saying “there was no evidence that he hadn’t received a product”, the court heard.

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Both have since died – Margaret in May 2024 and John in June 2025.

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Alison Hammond’s curve-friendly polka dot maxi dress ‘feels very luxurious’ and is ‘perfect’ for weddings

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If you’re looking for a curve-friendly wedding guest dress, Alison Hammond has answered with her latest This Morning outfit – a £65 polka dot maxi dress that ‘feels luxurious’

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The search for a great wedding guest dress can be a tricky one, especially if you fall into the plus size category, but more high street brands are now expanding their sizing range to be inclusive. A perfect example is Next, which now offers most of its clothes in sizing ranging from six to 26.

But Alison Hammond has answered the question of what to wear for a wedding with her latest This Morning outfit. On Wednesday’s episode, Alison wore the Chocolate Brown Spot Satin Maxi Dress which is just £65 and works for multiple special occasions.

READ MORE: Vicky Pattison re-wears her on-sale floral mini dress that’s ‘nice and thin for hot weather’

READ MORE: Celeb-loved Havaianas flip flops that are ‘comfy and reliable’ are slashed to £24

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The Next Satin Maxi Dress is available in sizes six to 26, as well as sizes 10-20 in the tall range – although some sizes are selling out quickly. As well as Alison’s chocolate brown polka dot print, it also comes in champagne, navy blue and dark green, and it’s just the right combination of luxurious and elegant without being too extravagant.

To make the dress more daytime TV-friendly, Alison paired her dress with a pair of chocolate brown and bronze Anais Pointed T-Bar Flats from Air & Grace, but for evening events and formal occasions, a pair of metallic heels and a statement clutch bag would instantly elevate it. You could even pack it for your next holiday, styling it with some gladiator sandals and a statement necklace for evenings out.

It comes in a lightweight satin material with a hammered finish, which gives it a luxe-look, and features a ruched knot detail around the waist which creates a flattering silhouette. The Next Satin Maxi Dress also has wide, flared sleeves for some added drama, and a rounded neckline.

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There are some other beautiful occasion dresses to shop right now too, including this £129 Green Diamond Print Toria Dress from Never Fully Dressed which is available in sizes six to 28, with a gathered front and draped sleeves. Alternatively, ASOS’ Draped Long Sleeve Cross Front High Neck Satin Maxi Dress which comes in a beautiful green shade for £65, with cape-style sleeves and a draped column silhouette.

However Alison’s Chocolate Brown Spot Satin Maxi Dress is a hit with shoppers, with one person saying: “Gorgeous dress, feels very luxurious and will be perfect for the wedding I’m attending this autumn.”

Another agreed: “The style is very flattering to the “fuller figure”, whilst a third added: “I bought this dress to attend an awards dinner & ceremony and it was great. A lovely rich colour and very flattering and elegant.”

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One Next shopper did say, however: “This is a beautiful dress, but really quite heavy weight. More suitable for a autumn/ winter party, not 30 degrees plus summer evening, so regretfully returned.”

And another complained: “Very disappointed for a dress of this price I would have expected better. The design was large polka dots but the were not matched properly and this was very noticeable at the front.”

However, others loved it, saying: “These dresses are beautiful, flattering, drape beautifully, lovely material, lovely colour (navy) and best of all a really good price, look far more expensive than they are.”

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US-owned gas tanker catches fire after drone attack at Egypt port as Middle East tensions rise

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US-owned gas tanker catches fire after drone attack at Egypt port as Middle East tensions rise

A drone strike ignited a fire that engulfed two gas vessels at Egypt’s Mediterranean port of Damietta, the Egyptian cabinet confirmed on Thursday, stating the blaze was the result of an attack rather than an accident.

The incident, which occurred near the strategically vital Suez Canal – a crucial evacuation route for Saudi oil to global markets – has yet to be claimed by any party.

Authorities have launched an investigation and are implementing measures to safeguard Egypt’s national security. British maritime security firm Ambrey had initially assessed on Wednesday that a drone struck a US-owned gas storage tanker at the port, raising concerns about a potential escalation of conflict across the Middle East.

Trading sources familiar with the event identified the affected vessels as the floating storage tanker Energos Winter and the Gaslog Salem, with the fire reportedly starting on the starboard side of the Energos Winter before spreading.

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The drone attack unfolded shortly after Iran launched a missile strike against US forces in Jordan, and following retaliatory actions by Washington and Saudi Arabia against Iran-backed paramilitary groups in Iraq.

President Donald Trump had threatened retaliation against Iran after they launched a missile strike against US forces
President Donald Trump had threatened retaliation against Iran after they launched a missile strike against US forces (AP)

US president Donald Trump had threatened retaliation against Iran, while Yemen’s Houthi group declared a naval blockade on Saudi Arabia, indicating a widening of the conflict since the US and Israel began bombing Iran in February.

Egypt’s petroleum ministry confirmed on Wednesday that the fires were swiftly brought under control by firefighting and security teams, with no injuries or fatalities reported. Petroleum Minister Karim Badawi visited the site to oversee the response efforts.

The Energos Winter, a floating storage and regasification unit, is owned by US-based Energos Infrastructure and managed by Wilhelmsen Ship Management, a Singapore-based subsidiary of Norway’s Wilhelmsen Group.

The incident arrives at a sensitive juncture for Egypt’s gas market. Having become an LNG exporter following the development of the giant Zohr offshore gas field, Egypt has recently reverted to being a significant LNG buyer due to declining domestic production and surging demand. Any prolonged disruption could significantly impact LNG traders, affecting demand and spot prices.

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Sources indicate that the vessels are expected to remain out of service for an extended period, with one reporting a breach in a tank on the Energos Winter, potentially prolonging repair work.

The Energos Winter possesses a regasification capacity of approximately 450 million cubic feet per day, which accounts for roughly 7 per cent of Egypt’s daily gas consumption and 16 per cent of its total LNG receiving and regasification capacity, according to Egyptian consultancy ElAdl Studies.

While the outage is not anticipated to create an immediate supply gap, given Egypt’s alternative import facilities and fuel options, it will reduce spare capacity during a period of peak summer demand.

Potential mitigation strategies include maximising other regasification units, increasing the use of fuel oil as a backup, tapping into renewable energy capacity, and, as a last resort, temporarily reducing gas supplies to certain industrial sectors.

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Malaysia screens refugees for planned return to Myanmar

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Malaysia screens refugees for planned return to Myanmar

KUALA LUMPUR, Malaysia (AP) — Malaysia has started documenting and screening thousands of detained Myanmar nationals as part of a repatriation program agreed with Myanmar, Home Minister Saifuddin Nasution said Thursday.

Saifuddin said Myanmar had committed to accept up to 5,000 of its citizens currently living in Malaysia and an unspecified number currently in Cox’s Bazar, a town in south east Bangladesh.

Malaysia had identified up to 4,000 Myanmar nationals in its 19 detention depots, who will be moved to a single site for security screening and documentation purposes, he said.

“We will certainly meet the target of 5,000 individuals once this process is complete,” Saifuddin told to reporters, adding that the foreign ministry will handle the next stage of the repatriation process with Myanmar.

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Prime Minister Anwar Ibrahim had said Wednesday that those being repatriated were Rohingya refugees.

“People ask why we do not simply send them back. Send them where? Myanmar had refused to accept them before. Now, because of our good relations with Myanmar, they have agreed to take back 5,000 from Malaysia,” Anwar was cited as saying by the New Straits Times.

However, Saifuddin, who did not explicitly identify the 5,000 individuals as Rohingya, said only Myanmar nationals with refugee status were being repatriated.

Foreign ministry officials could not be immediately reached for comment.

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Mohammed Mizanur Rahman, a commissioner for refugee, relief and repatriation in Cox’s Bazar, told The Associated Press by phone that he was not aware of any repatriation of Rohingya from Bangladesh.

In Naypyitaw, the capital of Myanmar, officials also rejected reports that the government would accept Rohingyas.

Han Win Aung, director-general of the ASEAN department at Myanmar’s Foreign Affairs Ministry, said the repatriation program was focused solely on verified Myanmar nationals currently held in detention centers in Malaysia.

Myanmar, formerly known as Burma, does not recognize the Rohingya as one of the country’s 135 lawful ethnic minorities, instead referring to them as Bengalis to imply they are natives from Bangladesh and are illegally settled in Myanmar.

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“This is not about bringing back Bengalis. There are Myanmar nationals who are being held in detention centers in Malaysia for various reasons,” Han Win Aung told the AP. “Both sides are still at the stage of coordinating to repatriate only those whose identity as genuine Myanmar citizens has been verified.”

He said the plan follows earlier repatriation operations in 2021 and 2022, when Myanmar received more than 1,100 of its nationals stranded in Malaysia.

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Han Win Aung said the number of people to be repatriated and the timeline for transfer remain under discussion.

Malaysia is home to about 215,600 refugees and asylum seekers registered with the U.N. refugee agency, including about 126,000 Rohingya who make up one of Southeast Asia’s largest refugee community. Despite hosting them, Malaysia is not a party to the U.N. Refugee Convention and treats refugees as undocumented migrants.

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Journalists Julhas Alam in Bangladesh and Grant Peck in Bangkok contributed to this report.

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Money worries can leave a lasting mark on the brain, 80-year study shows

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Money worries can leave a lasting mark on the brain, 80-year study shows

Money worries can keep us up at night, but could decades of financial stress leave a lasting mark on the brain itself? That’s the question my colleagues and I set out to answer in a new study – and the answer, it turns out, is yes.

Most research on money and brain health looks at people’s financial circumstances at just one point in time. This makes it hard to know whether a few difficult years have the same effect as decades of enduring struggle. For our study, published in the journal Innovation in Aging, we tracked the same people throughout their adult lives to find out.

We used data from the MRC National Survey of Health and Development, also known as the 1946 British birth cohort study. A cohort study follows a group of people born in the same period throughout their lives. This is the world’s longest continuously running study of its kind, tracking thousands of people born in one week in March 1946 – participants who celebrated their 80th birthdays earlier this year.

The study’s origins go back to the economic anxieties of the 1930s, when the Great Depression left many families worrying about money and the cost of raising children – making it a fitting dataset to revisit those same questions decades later. Using this rich resource, we examined the financial circumstances of 2,759 participants at multiple points across adulthood.

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Participants reported their household income at ages 26, 43 and 53. We classed those in the bottom 20% of the group on at least two of these occasions as having persistent low income – about one in six people. Separately, we measured financial hardship by asking whether people struggled to manage on their income or had trouble paying bills, at least twice between ages 36 and 53. This applied to about one in eight.

At age 53, participants took tests of verbal memory and processing speed. A smaller group also had brain scans between ages 69 and 71, which let us measure brain atrophy (shrinkage) and ventricular expansion – the widening of fluid-filled cavities within the brain, a recognised marker of poor brain health.

We found that people who had experienced more financial hardship and low income scored lower on the cognitive tests at age 53. These links held even after we accounted for their childhood thinking skills, education and childhood disadvantage. Among those who had brain scans, persistent low income was linked to greater brain shrinkage in later life.

People who had faced more financial hardship tended to perform worse on cognitive tests.
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When we looked at how memory changed from age 53 to 69, those who had faced persistent hardship actually showed slower decline over that period. We believe this is because they had already lost more ground by age 53 – they started from a lower point, so there was less left to lose.

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We also found that the link between financial adversity and brain shrinkage was stronger for men, for those who grew up in disadvantaged homes, and for carriers of a gene that raises the risk of developing Alzheimer’s disease.

For men of this generation – born in 1946, when the male breadwinner model was the norm – the pressure of being the main earner may have made financial stress more acute. Disadvantaged men also had higher rates of smoking and drinking than disadvantaged women.

The finding on genetic risk suggests that people who are already biologically vulnerable may be more susceptible to the effects of financial strain. These subgroup findings are based on smaller numbers within our sample, so we are treating them as suggestive rather than conclusive.

Why would money worries harm the brain?

How might financial hardship affect the brain over time? Chronic stress is known to increase inflammation, which accelerates brain ageing. There is also the simple fact that constantly worrying about money uses up mental energy, leaving less capacity for other thinking tasks – a cognitive load that competes with everything else the brain is trying to do.

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We acknowledge that our study cannot prove cause and effect, and the results, drawn from a single generation of British adults, may not apply directly to other populations or countries. But following the same people over many years gives us a clearer picture than studies that only look at a single moment in time.

Financial hardship is increasingly recognised as one of several factors – alongside things such as hearing loss, smoking and physical inactivity – that may shape our risk of cognitive decline in later life. Our findings suggest that reducing chronic financial hardship among working-age adults, wherever they live, could help protect brain health and potentially reduce dementia cases in the future.

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Prague zoo uses tons of ice to help animals beat the heat wave

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Prague zoo uses tons of ice to help animals beat the heat wave

PRAGUE (AP) — Keepers at Prague Zoo used tons of ice on Thursday to give its animals some much-needed relief as yet another heat wave hit Europe.

Polar bears Aleut and Gregor wasted no time and were rolling in the beds of ice cubes after entering their outside enclosure.

The twins looked to have fun with the ice treat that was meant to keep them cool amid the extreme temperatures forecast to soar to 38 degrees Celsius (100.4 degrees Fahrenheit) later in the day.

“The bears cool off with it and at the same time it’s an enrichment of their life in the zoo,” said zoo spokesperson Filip Mašek.

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The zoo began providing ice to some of the animals two years ago in response to climate change and the increasing number of days with extreme temperatures.

The polar bears, who were born in Nuremberg, Germany, 16 years ago and have adapted to the European climate, were the ones who enjoyed it the most.

This year, the plan was to order ice for the animals in July and August, which are traditionally the hottest months. But the first heat wave struck early and the Czech Republic experienced its hottest day ever with 41.9 C (107.4 F) on June 28.

“The weather keeps surprising us,” Mašek said. He said the ice will be ready sooner next year. “We’ve been taught a lesson.”

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Other animals that have benefited from the provision of ice to keep cool in previous years include otters, elephants and parrots.

Some animals in the zoo are used to heat, others could stay in the shade or inner enclosures and use various pools to keep cool. Gorillas were given pieces of ice with frozen fruits in the previous years.

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Did a tourist tax save Magaluf?

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Did a tourist tax save Magaluf?

As Edinburgh introduces a visitor levy this week, we look at what a decade of tourist tax-funded investment has done for one of Europe’s most infamous resorts

It is a bright early summer evening in Mallorca and Jaime Mora Bosch is reclining in a waterfront restaurant in a cream suit. Behind him, Port Adriano is filled with multimillion-euro yachts as their passengers settle into restaurants overlooking the marina, where rosé and mineral water are being poured.

Mora Bosch is director of tourism for Calvià, a district of mountain trails, luxury resorts, exclusive harbours… and Magaluf, the resort with a reputation as the place where Britons go abroad to behave badly.

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Cheap lager, sunburn, public nudity, stag dos and hen parties turned ‘Shagaluf’ into a tabloid genre of its own. Mora Bosch insists that picture is years out of date and argues that the tourist tax introduced a decade ago has helped drive that change.

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“If you’re in Magaluf tonight, yes, you will find some people drunk, you will find some British people without a T-shirt, maybe swimming, maybe drinking in the streets,” he says. “But in general it has nothing to do with the past.”

From Port Adriano, Magaluf is only a short drive away, but the contrast is immediate. On Punta Ballena, the street universally known as the strip, music pounds from open-fronted bars as scantily dressed women try to entice groups of men inside with promises of cheap booze.

A group of men in their early 20s, here for a stag weekend, offer grins and gestures when I ask why they chose Magaluf. A party of women from Sunderland celebrating a friend’s engagement give roughly the same answer. What is striking, though, is how dated the strip feels. There are plenty of groups of young adults, but also a surprising number of 40- and 50-somethings who seem to be trying to relive their youth, many of them accompanied by their bored-looking teenage children.

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Several premises are boarded up, while others have the sticky, faded air of places waiting for one final summer. The soundtrack leans heavily towards ’90s dance anthems. At around midnight on Saturday, we walk into Joker’s, a karaoke bar just behind the main strip, and find ourselves its only customers. Sam, an English DJ in his 60s, is waiting beside a dancefloor on which nobody is dancing. “I came over in the 1980s and never left,” he says. “Why would I?”

A few families eventually arrive with children younger than you would expect to find in a bar at midnight, but the room remains fairly empty. The larger clubs still pull crowds and the strip is certainly bustling, but groups of revellers seem to be searching for ‘the place to be’ – a place that perhaps no longer exists.

On the waterfront promenade, just a block away from the strip, are well-presented hotels, fashionable beach clubs and fine-dining restaurants serving families, couples and older visitors. The two versions of Magaluf remain close enough to hear each other, but they are growing increasingly distant.

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The promenade in Magaluf was built using tourist tax funding. Image: Calvia Tourism

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The strip’s faded air reflects changing tastes, but its decline is also the result of a deliberate effort to diversify the tourism model that created it.

That model took shape in the 1960s, when Mallorca opened up to mass travel and hotels rose at extraordinary speed. Dennis Saro, a local guide, has watched Calvià wrestle with the consequences. “We made a lot of mistakes at this time in the 60s,” he says. “We started building, building, building… and we didn’t think about the future. This is what we are fixing now.”

By the 1990s, Magaluf had a reputation for cheap booze, cheap rooms and being a resort where rules did not apply, where almost anything went.

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The moment that forced the authorities to confront its reputation arrived in 2014, when a video showed a young British woman performing sex acts on multiple men in a bar as part of a drinks promotion. It travelled around the world, becoming a brutal advertisement for Magaluf’s tourism economy. “It used to be a lawless city,” says Mora Bosch, who says it was at that point that the authorities knew something had to be done.

Calvià restricted pub crawls, street drinking and alcohol promotions. Shops in designated ‘excess tourism’ areas were banned from selling alcohol between 9.30pm and 8am. Noise rules were tightened and police inspections increased, while many venues began opening earlier as daytime clubs.

The Balearic Sustainable Tourism Tax followed in July 2016, charging visitors according to their accommodation and the time of year. By July 2025, close to 300 projects worth almost €850m (£730m) were being financed through the programme.

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Newly developed hotels have sprung up across Magaluf. Image: Calvia Tourism

“The main aim of the tourism tax is to compensate for the impact generated by tourist activity,” says Miguel Rosselló Jiménez, tourism co-ordinator at the Balearic Islands’ ministry of tourism, culture and sport. “It helps fund projects to improve the destination, making it more sustainable in environmental, social and economic ways.”

The levy funded investment in public spaces, water infrastructure and cultural projects. Alongside private investment, EU funding and political support, it became part of a wider effort to rebuild and rebrand the region.

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Magaluf’s beachfront now has a bright promenade linking the hotels, restaurants and waterfront. There is level paving, planting, seating and room for buggies and wheelchairs. Native plants and reclaimed water reduce pressure on local supplies, while beach showers use seawater. The €3m (£2.5m) second phase, completed in May 2026, was funded entirely through the tourism tax.

The space feels safe, open and easy to use, more in keeping with the waterfront at Port Adriano and other parts of the island. Nearly every venue I pass is serving couples and families. There are groups of men and women, but most are restrained rather than rowdy.

The official inauguration of Magaluf’s promenade in June 2026. Image: Calvia Tourism

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By 11pm, most of the larger groups make their way towards the strip as almost all the venues on the waterfront close or prepare to shut. Staff know inspections will check whether alcohol service has stopped on time, whether music has crept above the permitted level and whether customers are smoking where they should not be.

For residents, better paving and calmer evenings only go so far if tourism still consumes the places where they live. Marta, a Calvià resident, supports the move away from sheer numbers, although she understands why some neighbours have lost patience altogether.

“We want more quality and less quantity,” she says, adding that many locals “just want to be able to go to a beach and find a spot”.

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The campaign to diversify tourism has also involved broadening the range of hotels on offer. BH Mallorca, once one of the main engines of the resort’s 18-to-30 economy, was bought by the Mallorca-based Fergus group and its partners, with around €20m (£17m) committed to dividing the complex into three hotels aimed at families and higher-spending visitors.

Nicky Beach on Magaluf waterfront has replaced many older bars. Image: Calvia Tourism

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“They used to specialise in drunk-tourism – the 18-to-30 market,” says Mora Bosch. “They’d have 1,200 people in this hotel, and you might find 3 or 4 people in a room … But two years ago Fergus bought it, a local brand who specialise in family activities, and we’ve seen a huge difference. The change is everything.”

Richie Prior arrived as a holiday rep in 1990 and is now managing director of Pirates Adventure, one of Magaluf’s longest-established attractions. Writing recently about the changes, he said Mallorca had “changed dramatically” and added: “Personally, I think it’s a positive move,” pointing to improved hotels, restaurants and a more international crowd.

The authorities argue that fewer visitors spending more can create greater economic value with less pressure on streets and emergency services. “Fewer people but their per head spend is a lot more,” says Mora Bosch.

That strategy has been helped by broader changes in habits. Younger adults drink less, the cost of living makes indiscriminate spending harder, and many visitors now want a better room, a decent meal and somewhere attractive to share on social media. As Mora Bosch puts it, people increasingly want to show off, a shift reflected in the designated ‘selfie route’ created along the promenade.

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We just want to be able to go to a beach and find a spot

That does not mean Magaluf wants to stop young people from coming and letting off steam as this is still a major part of the local tourism economy. Stag and hen parties still arrive and the major clubs continue to buzz, but it feels as though Punta Ballena’s heyday is behind it. Calvià council has bought 11 obsolete commercial premises in the area, using a €6m tourism tax grant to acquire, demolish and redevelop them. The scheme will remove unsafe buildings and return the land to public use, while the fading bars suggest the market may be retreating.

Calvià is also creating reasons to visit that do not depend on nightlife. The council plans to restore the 16th-century Torre de Torrenova and turn neighbouring buildings designed by local architect Josep Ferragut into an international artists’ residence. It is one of several physical and cultural projects under way, including the restoration of the Galatzó public estate, the development of Puig de sa Morisca archaeological park, a series of refuges for walkers, a film-location trail, a €10,000 literary prize and Conecta Magaluf, which recently brought together 400 film and television professionals from 29 countries.

Nearly 2,000 kilometres north, Edinburgh is beginning an experiment of its own. Since 24 July, the Scottish capital has charged visitors 5% of the pre-VAT accommodation cost for the first five nights, becoming the first UK city to introduce a mandatory city-wide visitor levy.

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The 16th-century Torre de Torrenova will be turned into an international artists’ residence. Image: Tom Pattinson

The levy is expected to raise up to £50m a year by 2028-29. Of the available funds, 55% will go to city operations and infrastructure, 35% to culture, heritage and events, and 10% to destination management. The first three-year programme is worth more than £90m, including funding for Leith Theatre, public toilets, historic streets and an annual £5m housing and tourism mitigation fund.

An early consultation found that 85% of respondents strongly supported a levy, although the final 5% rate proved more divisive. Hospitality businesses argue that Edinburgh is already expensive and that visitors may spend less elsewhere.

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Tony Lankester, chief executive of the Edinburgh Festival Fringe Society, supports the principle while warning that the festival needs to see a tangible return. “At its most basic level, I think the tourist tax is a good thing because for too long the impact of tourists… has been borne by the people who live here,” he told The Stage.

Magaluf’s challenges are very different from Edinburgh’s: visitors come to the Scottish capital for its heritage and world-famous literary and arts festivals, but in both places the costs of mass tourism are often left for residents to absorb. Calvià shows that a tourist tax, combined with private investment, regulation and political will, can help transform a destination. It did not save Magaluf by itself, but it has helped the resort build a future in which it may no longer need saving.

Main image: Calvià Tourism

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Four people die trying to cross Channel in small boats

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A young person wearing a baseball cap and a backpack and carrying a suitcase stands in the middle of the image. To the left of the image a passport with a boarding card is held up. To the right of the image is a migrant family of a man, woman and child on a beach, walking. In the top right corner is a partial view of a UK visa document

Four people died trying to cross the Channel in small boats overnight, French officials have said.

One man died after a vessel capsized off France’s northern coast late on Wednesday, with a one-year-old child among those injured.

Separately, three people were found dead aboard a small boat early on Thursday after launching from Dunkirk overnight, some 100km (62 miles) up the coast.

French officials confirmed their deaths after several hundred people crossed the Channel into the UK on Wednesday.

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The first boat capsized off the coast at Hardelot around 23:30 local time (21:30 GMT) on Wednesday.

The man is thought to have been in his thirties or forties, officials added. Six other people including the child sustained minor injuries.

Local officials said the vessel was a “taxi” boat – vessels which cruise along the coast and pick up their paying customers who are waiting in the sea.

Security officials “neutralised” the boat and an investigation into the incident has been launched.

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The second boat launched from the Dunkirk area overnight and was spotted near a breakwater off the coast at 06:00, the French coastguard said.

Search and rescue officials subsequently found three unconscious people on board. Their deaths were later confirmed by emergency medical personnel.

A UK government spokesperson said: “Every death in the Channel is a tragedy and a stark reminder of the dangers posed by criminal gangs exploiting vulnerable people for profit.”

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