Late Links: How to retire young when you have less than £20k in the bank

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If you work in an investment bank and are fed up with it, but doubt you'll ever achieve the £2.5m of net assets generally considered as retirement money, Merryn Somerset Webb the editor in chief of Moneyweek, has a suggestion for you. Earlier today, she tweeted details of what she described as the sweetest and cheapest cottage in the UK: a stone built cottage on the Shetland Islands costing only £12k.  Full details are available here and we've added a photo below. The upside? You'll be able to retire and become a sheep farmer when you're just an associate. The downside? There's only one room.

Shetland Cottage


Gary Cohn is fed up with waiting for Lloyd Blankfein to leave Goldman Sachs. (New York Times) 

Philip Hampton indicated today that he’ll be leaving RBS today too. (The Times) 

Justin Welby envisages a dystopian future in which banks operate in a prosperous City with high property prices and everyone else commutes in from a disenfranchised countryside. (Financial Times) 

Banks need to regain their moral compass and capitalism can be a force for good, said Antony Jenkins at St Paul’s Cathedral. (Bloomberg) 

IT contractor pay will rise 7.5% this year. (Contractor UK) 

Stephen Hester confirmed as the new Dr Who. (Daily Mash) 

You can leave comments on Hester’s exit on RBS’s own website. Only three people have done so. (RBS)