The greatest retirement asset you’ll ever have + MORE Jun 9th

HANOI, Vietnam – A Vietnamese court has sentenced one of the country’s richest men to 30 years in prison after convicting him of financial crimes.
Nguyen Duc Kien, a flamboyant businessman who also headed the Hanoi ACB football club, was arrested in 2012 as part of what was seen as the fall out of a power struggle among Communist Party leaders.
A Hanoi court sentenced Kien on Monday after finding him guilty of millions of dollars of fraud at investment companies he ran.
Kien was the director of Asia Commercial Bank, one of the Vietnam’s largest. His arrest triggered a run on the bank’s deposits and highlighted concern about the weak state of Vietnam’s banking sector.
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This GIC rate is offered by Oaken Financial and was updated on 2014-06-06. Click on the link above to get more details or apply online.

TOKYO – World stock markets were mostly higher Monday after stronger first quarter growth in Japan added to positive sentiment from solid hiring in the U.S.
European shares eked out gains in early trading. Germany’s DAX rose 0.1 per cent to 9,994.86 and France’s CAC 40 added 0.1 per cent to 4,584.58. Britain’s FTSE 100 advanced 0.3 per cent to 6,876.66. Wall Street was set for a more uncertain start. Dow Jones futures were down 0.1 per cent at 16,919. S&P 500 futures fell 0.1 per cent to 1,947.10.
Japan’s government reported that the economy grew an annualized 6.7 per cent in the January-March quarter thanks to strong private investment, up from an earlier estimate of 5.9 per cent growth. The revised data shows the world’s No. 3 economy in better shape to withstand the drop in consumer demand that followed a 3 percentage point hike in sales tax on April 1.
“Results are certainly stronger than expected,” IG strategist Evan Lucas said in a market commentary…

LONDON – State-backed Lloyds Banking Group PLC is valuing its TSB unit at up to 1.45 billion pounds ($2.4 billion) as it prepares to sell a 25 per cent stake in the entity later this month.
Lloyds, which was bailed out during the financial crisis in 2008, has set a flotation price of between 220 pence to 290 pence. At the midpoint of that range, the TSB’s value would be about 1.2 billion pounds and Lloyds would raise around 300 million pounds.
The final price will be announced on June 20.
Lloyds is floating off TSB to meet European Union rules on state assistance. It had originally intended to sell 631 branches to the Co-operative Group but that deal collapsed last year when Co-op discovered a black hole in its balance sheet.
The post Lloyds values TSB unit at up to $2.4 billion as in announces price for stock flotation appeared first on Canadian Business.

“The proper way to think about life insurance (and disability insurance, critical illness insurance, and even unemployment insurance) is a hedge for your human capital. – Moshe Milevsky, Associate Professor, Schulich School of Business, York University and respected financial author
Your home is not the biggest asset of your life.
If a 25-year-old earns a starting wage of $40,000 before taxes and works for 40 years, and receives a pay-hike of 2% per year, they can expect to earn almost $2.5 million during their working career and their annual income will rise to $87,000 by the time they retire.  That’s a good chunk of change.
The downside of this lofty financial equation is nobody knows what life might throw your way during those 40 years.  Nobody can predict the weather accurately, or the stock market for that matter, for one day in advance let alone months, years or decades.  It’s worth thinking about what would happen to your family and your dependents if your human capital was suddenly put into crisis mode…