Post by Clive on May 30, 2008 9:42:47 GMT 9.5
Miranda Richardson: fame and fortune
Last Updated: 12:38am BST 30/05/2008
Miranda Richardson, 50, has been critically acclaimed for many film and theatre roles, but is arguably still best known for her comedy portrayal of the infantile 'Queenie' Elizabeth I opposite Rowan Atkinson in Blackadder. She lives alone in Notting Hill, and tells Mark Anstead about her finances and switching to ethical investing.
How did your childhood experience influence your attitude to money?
My father was a marketing executive and I was brought up in a four-bedroom detached house in Southport, Merseyside. We were comfortable, but not overindulged.
We didn't go abroad for holidays and we didn't eat out much; if we did it was an event. Even takeaway meals weren't common, apart from fish and chips.
I find I can still think quite small.
Would you say you're cautious or liberal with money?
Can I say I'm cautiously liberal? My mother was a brilliant budgeter, but dad didn't budget at all and I think I tend more towards his side. I'm just not a detail person, but I do have a sense of what I can afford.
Now that you are better off, are you happier?
Not really – the most well-off I have ever felt was when I was a student when there seemed to be no restrictions. I had a partial grant and I supplemented that by working out of hours.
Since an actor's income fluctuates wildly, I don't feel all that secure in my income today.
Does talking about money embarrass you?
I don't spend a lot of time talking about money, but I realise that my self-worth is linked to it.
Acting is a flighty profession and I'm either being told by my agents that because my last fee was a certain level we should ask for more, or because the last thing I did was a turkey we can't ask too much. It's a strange leveller.
Have you learned any difficult lessons about money through mistakes?
In the past I've not been well-served from the professional financial services field. Now I'm far more careful about whom I appoint and I look carefully at what they are charging.
What do you hate about dealing with money?
There are many things more satisfying to think about! I'm more interested in money now, though, because I have found a financial adviser I like dealing with. I told him I would like to get into ethical investing and he has sorted me out.
Why are ethical investments important to you?
I've been feeling bad about not knowing how my money is being used and what it's supporting. Ethical consumerism is on the agenda and we are now all concerned about the state of the planet, so I decided I would rather take a lower growth rate if necessary and know my money isn't affecting anyone badly.
What has been your best buy?
My home in London. It's a three-bedroom, flat-fronted Victorian terraced house I bought 10 years ago for £510,000. Back then it seemed a terrifying price.
There is a puritanical aspect to my existence. I can be content with less but my friends challenged me to stretch. I said: 'All right I'm going to do this, but then I can't afford to go out – you will have to come to me and I will cook.'
I used to also have a house in Somerset, but I sold it at the turn of the year. Not because I had to, but because I felt it was the right thing. I wasn't spending enough time there and it feels immoral to own a property and not use it.
And your worst buy?
Occasionally I buy a piece of clothing at grossly inflated prices by my standards and then I wear it only once and think, 'Oh gosh, I wish I hadn't bought it.'
Do you have many credit cards?
Principally one, with my bank Coutts, but also two others, a Mastercard and Visa, for back-up. I've never let balances build up on any of them – I hate the thought of that.
What's been your greatest extravagance?
My dog. She is a 10-year-old pedigree breed, but buying her wasn't the expensive part – she is my most extravagant buy because then I felt I needed a bigger car: I went from a Citroën Deux to a Saab 95. I partly bought the house in the country for her.
I now drive a Lexus hybrid car, which I bought on hire purchase for a hideous price that feels like paying a small mortgage, but it makes me feel less guilty about driving.
What is your most treasured possession?
Can I say health? I have health insurance, so it is linked to money.
Have you ever invested in shares?
No
What about ISAs?
Investing in ISAs each year seems a sensible thing to do. But I asked my adviser to move me to ethical investments and so we set up a new one with Skandia, which is invested in the Aberdeen Ethical World fund.
Do you bank online? How do you use it – what for?
No. I'm very cautious about what I do online. I've got friends who have had their accounts cleaned out from fraud and who needs the worry? It's an extra risk.
Have you ever been in debt?
Never. And I must have gleaned that principle from my mother.
Do you frequently re-mortgage?
No. I have moved my mortgage only once. If I'm on a deal that runs out, I'll usually wait for the bank to tell me what the next best deal is.
What has been your favourite holiday?
I'm not good on holidays, I always have to have something else going on. Last year I was asked by The Telegraph to write about travelling somewhere and I chose Alaska.
What do you love to spend money on for fun?
Treating friends to dinner, plants, ceramics and paintings. When I do go out I don't really like to go to very expensive restaurants, I prefer low-key service that isn't ostentatious.
Do you think pensions are a good idea? If not, why not?
I think there are very good idea and I was inculcated in that doctrine quite early. I can remember my Dad saying 'Equitable Life', and although he was proved wrong on that front I nevertheless have been putting an amount into a pension fund each year since my early 20s.
Ms Richardson was supporting National Ethical Investment Week: www.neiw.org
The original article is at www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/29/cmfame29.xml
Last Updated: 12:38am BST 30/05/2008
Miranda Richardson, 50, has been critically acclaimed for many film and theatre roles, but is arguably still best known for her comedy portrayal of the infantile 'Queenie' Elizabeth I opposite Rowan Atkinson in Blackadder. She lives alone in Notting Hill, and tells Mark Anstead about her finances and switching to ethical investing.
How did your childhood experience influence your attitude to money?
My father was a marketing executive and I was brought up in a four-bedroom detached house in Southport, Merseyside. We were comfortable, but not overindulged.
We didn't go abroad for holidays and we didn't eat out much; if we did it was an event. Even takeaway meals weren't common, apart from fish and chips.
I find I can still think quite small.
Would you say you're cautious or liberal with money?
Can I say I'm cautiously liberal? My mother was a brilliant budgeter, but dad didn't budget at all and I think I tend more towards his side. I'm just not a detail person, but I do have a sense of what I can afford.
Now that you are better off, are you happier?
Not really – the most well-off I have ever felt was when I was a student when there seemed to be no restrictions. I had a partial grant and I supplemented that by working out of hours.
Since an actor's income fluctuates wildly, I don't feel all that secure in my income today.
Does talking about money embarrass you?
I don't spend a lot of time talking about money, but I realise that my self-worth is linked to it.
Acting is a flighty profession and I'm either being told by my agents that because my last fee was a certain level we should ask for more, or because the last thing I did was a turkey we can't ask too much. It's a strange leveller.
Have you learned any difficult lessons about money through mistakes?
In the past I've not been well-served from the professional financial services field. Now I'm far more careful about whom I appoint and I look carefully at what they are charging.
What do you hate about dealing with money?
There are many things more satisfying to think about! I'm more interested in money now, though, because I have found a financial adviser I like dealing with. I told him I would like to get into ethical investing and he has sorted me out.
Why are ethical investments important to you?
I've been feeling bad about not knowing how my money is being used and what it's supporting. Ethical consumerism is on the agenda and we are now all concerned about the state of the planet, so I decided I would rather take a lower growth rate if necessary and know my money isn't affecting anyone badly.
What has been your best buy?
My home in London. It's a three-bedroom, flat-fronted Victorian terraced house I bought 10 years ago for £510,000. Back then it seemed a terrifying price.
There is a puritanical aspect to my existence. I can be content with less but my friends challenged me to stretch. I said: 'All right I'm going to do this, but then I can't afford to go out – you will have to come to me and I will cook.'
I used to also have a house in Somerset, but I sold it at the turn of the year. Not because I had to, but because I felt it was the right thing. I wasn't spending enough time there and it feels immoral to own a property and not use it.
And your worst buy?
Occasionally I buy a piece of clothing at grossly inflated prices by my standards and then I wear it only once and think, 'Oh gosh, I wish I hadn't bought it.'
Do you have many credit cards?
Principally one, with my bank Coutts, but also two others, a Mastercard and Visa, for back-up. I've never let balances build up on any of them – I hate the thought of that.
What's been your greatest extravagance?
My dog. She is a 10-year-old pedigree breed, but buying her wasn't the expensive part – she is my most extravagant buy because then I felt I needed a bigger car: I went from a Citroën Deux to a Saab 95. I partly bought the house in the country for her.
I now drive a Lexus hybrid car, which I bought on hire purchase for a hideous price that feels like paying a small mortgage, but it makes me feel less guilty about driving.
What is your most treasured possession?
Can I say health? I have health insurance, so it is linked to money.
Have you ever invested in shares?
No
What about ISAs?
Investing in ISAs each year seems a sensible thing to do. But I asked my adviser to move me to ethical investments and so we set up a new one with Skandia, which is invested in the Aberdeen Ethical World fund.
Do you bank online? How do you use it – what for?
No. I'm very cautious about what I do online. I've got friends who have had their accounts cleaned out from fraud and who needs the worry? It's an extra risk.
Have you ever been in debt?
Never. And I must have gleaned that principle from my mother.
Do you frequently re-mortgage?
No. I have moved my mortgage only once. If I'm on a deal that runs out, I'll usually wait for the bank to tell me what the next best deal is.
What has been your favourite holiday?
I'm not good on holidays, I always have to have something else going on. Last year I was asked by The Telegraph to write about travelling somewhere and I chose Alaska.
What do you love to spend money on for fun?
Treating friends to dinner, plants, ceramics and paintings. When I do go out I don't really like to go to very expensive restaurants, I prefer low-key service that isn't ostentatious.
Do you think pensions are a good idea? If not, why not?
I think there are very good idea and I was inculcated in that doctrine quite early. I can remember my Dad saying 'Equitable Life', and although he was proved wrong on that front I nevertheless have been putting an amount into a pension fund each year since my early 20s.
Ms Richardson was supporting National Ethical Investment Week: www.neiw.org
The original article is at www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/29/cmfame29.xml
And I'd be the same, I'd want to eat out at low key places too.
