Singapore based financial firm First Meta has just launched the first credit card in the virtual reality game Second Life.  First Meta deals exclusively with virtual worlds, but a number of real-world financial services have already opened branches in Second Life.  Click here for the full story.

Germany’s Wirecard Bank moved into Second Life this past May. Earlier in the year, Denmark’s online investment bank Saxo, and Dutch banking groups ING also entered the virtual Second Life world, joining existing resident ABN Amro.

The residential lending business in the UK stands in contrast to the abrupt slowdown in the U.S. market.  The mortgage numbers are off slightly in the middle of the year, but consumer spending overall continues to rise according to the research - Click here for the numbers.    

Despite a series of interest rate hikes, mortgage borrowers in the UK continue to look for - and receive - loans.  That may begin to drop off more substantially as the year progresses, but any real problems behind the UK numbers seem to be only a pale shadow of the turmoil in the U.S. credit market and the drop-off in American mortgage originations.  Riding out the storm?    

The next domino in the mortgage credit downdraft is the jobs out the window. The latest research shows the job losses mounting quickly as one institution after another shutters the offices. The number is heading up towards 20,000 in the past few weeks and is climbing - see Full article.

The economy is doing well so these losses may be quickly absorbed elsewhere, but for those with positions in the financial sector, it is getting more complicated. Any idea how many could be effected total in the mortgage and credit sectors?

According to a recent report based on Thrivent Finanacial’s nationwide survey of 2,500 people out of the Boomer generation, Boomers are looking forward to a retirement they cannot afford. Only 20 percent feel they are in a better financial position to retire than their parents were. You can read more by clicking here.

The reason is a simple lack of money and yet almost 60 percent have not done any formal financial planning.

It is no doubt obvious to everyone that one cannot just put money in a bank and watch it grow to one’s advantage. A well thought out balanced portfolio is needed which delivers competitive opportunities and a safety net if the wheels come off the market. The troubling result out of this lack of planning could mean an incredible financial burden on their adult offspring.

A person does not need millions to retired, but one does need a plan.

Have your insurance at the ready when driving in the east.  That’s the conclusion of recent research figures comparing European driving results.  The research indicates Britons as being some of the best drivers while those in the Baltic states come in far down the pack - see Full Article attached.

Drivers in Lithuania, Latvia and Estonia have fatality rates up to four times higher than those in Britain.  Is it possible that an increasing number of tourists driving into the UK from the Baltics may even create a longer term negative impact on British auto insurance rates?    

Individuals must plan for a 20 year, 25 year or even 30 year retirement period. That’s the results of a recent research report on wealth management. In some cases, financial planners are looking out to a 40 year horizon or beyond that needs to be funded out of retirement savings - Click here for full article.

In addition to planning to fund a 30 year membership at the golf course, retirees need to start looking closely at tax implications and complex investment decisions. Wealth management is getting more complex. What percentage of workers have factored much of this into their current financial thinking?

Recent research indicates that consumers feel on-line banking has been the single biggest impact to them from the Web at making the lives easier.  In some cases, up to 5 hours a week has been saved by conducting banking online.  Some respondents saw online banking as meaning little need to go to the bank at all - see Full Article.

Clearly banks and security companies have a vest interest in stressing their offerings but there’s no doubt online banking has provided a very clear productivity boost for most consumers.  How do the shopping networks feel about this one?