YOU CAN Learn To Invest

The Meaningful Money Personal Finance Podcast

Player FM - Internet Radio Done Right

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اضافه شده در eight سال پیش

محتوای ارائه شده توسط Pete Matthew. تمام محتوای پادکست شامل قسمت‌ها، گرافیک‌ها و توضیحات پادکست مستقیماً توسط Pete Matthew یا شریک پلتفرم پادکست آن‌ها آپلود و ارائه می‌شوند. اگر فکر می‌کنید شخصی بدون اجازه شما از اثر دارای حق نسخه‌برداری شما استفاده می‌کند، می‌توانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.player.fm/legal

The Vanished

1
Lost on Route 66: The Disappearance of Diana Hayes 6:47

۵ weeks پیش6:47

پخش در آینده

لیست ها

پسندیدن

دوست داشته شد

6:47

Was she the victim of foul play, an accident, or did she choose to disappear? In this episode of The Vanished, we retrace Diana’s last known movements, strange witness accounts, and the lingering mystery that has never been solved or.. was never meant to be solved.

حدود یک سال پیش 1:01:38

MP3•خانه قسمت

In today’s episode, we show you how YOU CAN learn to invest. Honestly, it’s easier than you think!

Shownotes: https://meaningfulmoney.tv/YC2

Everything You Need To Know

01:21 What is investing? Swapping your money for assets that grow in value, produce an income, or ideally both.

05:46 Why do people think it’s hard?

08:14 What you really need to know? Asset classes that matter - equities, bonds and property.

Everything You Need To Do

29:48 Build a foundation first.

32:58 Start with money you’re probably already investing.

42:27 Open an ISA/LISA/Pension

48:40 Choose a fund - You want a global multi-asset fund.

52:25 Watch and learn - Commit to doing NOTHING for at least a year.

56:02 Don’t…

58:05 Podcast Review 59:20 The Meaningful Money Retirement Guide is due out on 6th May 2025

747 قسمت

#Personal Finances #Lifestyle #Trading #Pete Matthew #Business #Today I #Podcasting Education

YOU CAN Learn To Invest

The Meaningful Money Personal Finance Podcast

627 subscribers

published حدود یک سال پیش

اشتراک گذاری

MP3•خانه قسمت

In today’s episode, we show you how YOU CAN learn to invest. Honestly, it’s easier than you think!

Shownotes: https://meaningfulmoney.tv/YC2

Everything You Need To Know

01:21 What is investing? Swapping your money for assets that grow in value, produce an income, or ideally both.

05:46 Why do people think it’s hard?

08:14 What you really need to know? Asset classes that matter - equities, bonds and property.

Everything You Need To Do

29:48 Build a foundation first.

32:58 Start with money you’re probably already investing.

42:27 Open an ISA/LISA/Pension

48:40 Choose a fund - You want a global multi-asset fund.

52:25 Watch and learn - Commit to doing NOTHING for at least a year.

56:02 Don’t…

58:05 Podcast Review 59:20 The Meaningful Money Retirement Guide is due out on 6th May 2025

747 قسمت

#Personal Finances #Lifestyle #Trading #Pete Matthew #Business #Today I #Podcasting Education

همه قسمت ها

The Meaningful Money Personal Finance Podcast

1
Listener Questions - Episode 6 45:38

۲ hours پیش45:38

45:38

In this episode we answer questions about RSU’s, the Cashflow Ladder, Pension vs LISA and a whole lot more! Shownotes: https://meaningfulmoney.tv/QA6 01:42 Question 1 Hello Pete and Roger. Recently discovered this and am listening to every single episode. Brilliant. I've read a fair amount about the % balance of Equities, Bonds/Gilts and Cash I should have in my retirement pot, based on my age (61). Somewhere in the 40%s for Equities, perhaps. What I am not finding advice on is whether I should include my DB pension in this equation and, if so, how? Do I consider it to be cash? And if so do I use the transfer value or use the predicted annual pension pay-out in some kind of calculation? Thanks for any clues! Best wishes, Phil 11:14 Question 2 I enjoy listening to your podcasts whilst running and I read your book, recommended to me by a financial advisor friend. I’m 37, and early next year I am likely to get around £220k from some shares I hold in the company I work at. If capital gains tax rises, I guess I’ll see, at best, £150k. Any advice on the best place to keep it / invest it for up to 5 years? We plan to then use it to relocate abroad and perhaps set up a lifestyle business such as a B&B. I read about setting up a 'dividend-paying company' which could be useful as it’s often accepted as ‘passive income’ when moving to another country (potentially Portugal or Cyprus). This holding company could pay out whilst growing the savings through managed investing. Is this a potential option for my money? Many thanks, Faye. 19:14 Question 3 Your recent podcast on Helpful Basics: Self-employment and Side Hustles got me thinking about retirement saving vehicles. Specifically, what is the best investment vehicle for a self-employed basic rate taxpayer; a pension or a stocks & shares LISA for retirement purposes? Personally, I am 44 years old and started a LISA from its inception. I am a homeowner. Is it best to maximise LISA contributions until I am 50 years old, then focus on pension contributions? I have a pension pot of £250k which I am minimally contributing to, preferring to prioritise LISA (and ISA) contributions. I like the idea of the 25% bonus on contributions and tax-free withdrawals, which should complement future pension withdrawals from the pension pot in a tax efficient manner. Any guidance would be greatly appreciated. Best wishes, Adam 23:06 Question 4 Where someone has had a number of jobs over their career then consolidating multiple DC pension pots can seem attractive (to reduce admin and costs etc). However, what sort of benefits/ guarantees can be lost by transferring pensions, in particular are there specific things to be aware of with regard to older stakeholder / with profits pensions? It would be handy to know what to look for and what sensible questions to ask when talking to existing pension providers. Thank you G Locke 32:05 Question 5 Hi Pete and Roger, Loving your podcasts, great content as always. A question to do with retirement cashflow forecast planning. I have been reading an article by an American financial planner named Ty Bernicke. In his article, he asserts that retirees voluntarily spend less as they get older, referencing statistics from US government departments. Is there any equivalent recent research in the UK? Should I use his approach and figures when attempting my own forecast? With very best wishes and thanks again, James Cotterill 37:40 Question 6 Hi both, Stumbled across your podcast recently and have been binging on the episodes ever since. Very insightful information for an early 30 something year old trying to make better financial decisions, so thank you! My questions is: You often talk about paying off credit card debt before investing, but what if the credit card debt is not excessive and can be managed? What are your thoughts on paying off small amounts off your credit card monthly but also investing monthly, especially if returns on investing is potentially greater than the interest on the debt? Thank you Nathaniel…

The Meaningful Money Personal Finance Podcast

1
YOU CAN Set And Stick To A Budget 48:18

۷ روز پیش48:18

48:18

Today we’re talking about budgeting and encouraging that you CAN set and stick to a budget. It’s not easy, but it isn’t complicated either, so we’re here to make it as easy as possible. Shownotes: https://meaningfulmoney.tv/YC4 Everything You Need To Know 01:22 Budgeting is a baseline skill – spend less, earn more. 07:55 Budgeting should be forward-looking – be proactive not reactive. 09:30 Keep it flexible – Emergency fund for surprises. Everything You Need To Do 12:27 Track – Establish your income, Identify what you spend your money on currently. 19:31 Plan – Pay yourself first, Know your triggers for (over)spending. 24:50 Do – Two account system, Bills and spending. 32:34 Review – Review weekly and at the end of the month. It’ll take time to bed in, so don’t beat yourself up if you don’t get it right first time. 40:44 Podcast Review. 42:17 News about the podcast.…

The Meaningful Money Personal Finance Podcast

1
Seven Myths About Money, with Rob Dix 31:46

14 روز پیش31:46

31:46

This week, I chat to long-term friend of the show, Rob Dix, co-host of the Property Podcast, author of The Price of Money and now a new book Seven Myths About Money, which I highly recommend. Shownotes: https://meaningfulmoney.tv/session564 02:10 - Remind us about who you are and what you do. 03:47 - What was the trigger for writing this book hard on the heels of The Price of Money? 08:53 - Can you summarise the Ashvin Chhabra money motivations and why we need a new paradigm for risk management? 16:44 - I imagine some people will be surprised to read your challenge about home ownership. Can you tell us your views on home-ownership as a kind of default goal for so many people? 21:30 - I found myself nodding along as I was reading all of the book, and especially the sections around compounding and diversification - both of which are part of the accepted doctrine of investing. Is it fair to say that you think we're in for a lower and slower investing world going forward? 26:15 - If you had to give a single piece of advice to anyone looking to take their finances seriously, perhaps for the first time? 29:45 - Where's the best place to get the book and find out more about what you're up to? https://robdix.com/myths/…

The Meaningful Money Personal Finance Podcast

1
Listener Questions - Episode 5 43:18

21 روز پیش43:18

43:18

We’re back with another Q&A show, with a bit of a DB Pension tilt this time, though we even get into a question on equity release. We cover lots of ground, as always - hope it’s useful! Shownotes: https://meaningfulmoney.tv/QA5 00:55 As you made a request for questions I thought I'd pose this (apologies in advance for the length, feel free to trim as required): I am single, mid-forties, with no dependents (I do have some family I plan to pass wealth on to, but when they need it rather than leaving it in my estate). I'm aiming for the mystical die with zero. As a home owner, and given I'm not worried about passing it on, would it be a good idea to start drawing on the capital locked up in my home via drawdown equity release (using say home reversion) before the investments in my pension and ISAs given this is the most illiquid and concentrated of my assets? Downsizing isn't really an option to release capital (it's a two-bed semi so property doesn't get much smaller). That said equity release looks to offer rates well below the market value (apparently they want to make a profit), certainly if you're on the younger end of the eligibility spectrum. It's far from the case of selling 50% of the house and getting that amount, even spread over a number of years. I could sell the house myself and rent instead, using the released money to pay the rent (and if the money is invested, provided my rent doesn't rise egregiously, it might even stay ahead of that cost). Though there are potential issues with that approach, certainly over the long term. Are there any other ways to unlock the capital tied up in my property? Regards, Lee 10:20 Hello Pete and Roger. I work in public sector and have a decent DB pension, larger part being final salary and lesser part CARE. I will be able to commute up to 25% with a commutation factor of about 24:1. Which will give me about £180,000 depending on when I leave. Upon retirement I will seek to move most into a 100% equities investment wrapper, I’m fairly happy with proportionate risk, as my DB pension will provide a life long index linked safety net, and I will also build a bit of cash ladder of declining risk. I have recently watched your ISA v Pension comparison with keen interest. It was fascinating to see that even though a pension is taxed, the tax relief going in, offset the tax going out, and the option of having both works particularly well in terms of tax efficiency and retirement planning. I had been putting a modest amount into a S&S ISA each month for the last few years, but recently opened a SIPP and am now sending the spare cash that way for the extra tax relief. It’s very satisfying seeing the “free money” coming in each month.. I can potentially retire in 2 years at 55 with an actuarial reduction or continue working until 60, or retire sometime in between. I also have a preserved DB pension that I can take at 60 from a previous employer. In the mean time I want to keep saving and investing, and will try to ramp it up for next few years. My question is – It was pretty clear from your numbers that those with a DC pot are best with both ISA & SIPP in terms of tax efficiency and flexibility, but given that my DB pension will use up all my personal tax allowance, does that swing the momentum on where to invest back in favour of an ISA over a SIPP, as other than the 25% tax free element, I would pay basic rate tax on all my SIPP drawdown. I’m sure other people with either a modest DB pension or secondary passive income could find themselves in similar quandary. ( I’m aware all could change after the next budget. ) I live up north, houses are cheap as chips, therefore IHT unlikely to be a major concern in terms of decedents. Chris 16:47 Loving the sultry combination of the north and south tones! I’ve been listening to the podcast for several years now, and you’ve given me loads of practical tips that I’ve been able to take forward. However, I’ve recently received an ADHD diagnosis, and while I earn a good salary, my impulsivity often leads to overspending, and I’m finding it difficult to maintain control over my finances. I have a monthly planner that I check regularly with the bills, so they are ok, but on spending it is always difficult, and I often dip into credit card usage. I would really appreciate any advice or practical tips you could offer for someone like me, who struggles with impulsive spending with a disability. Things like “just don’t spend money” just don’t work! Are there any specific strategies, tools, or approaches that can help someone with neurodiversity, particularly ADHD, to manage their money more effectively? Thanks again for the amazing content you put out. Looking forward to any guidance you can provide. Best regards, Ian 22:53 My question / suggestion relates to listeners with Defined Benefit (DB) pensions. Although they’re becoming rarer, there is still a sizeable minority of people who have DB pensions. I suspect the majority of them are (or have previously been) employees in the public sector – but they’ll run to quite a high number. For instance, there are 1.5 million current employees in the NHS, half-a-million Civil Servants, half-a-million teachers, Police, Fire Fighters etc etc. Double that to allow for all the former employees, plus those with DB pensions in the private sector, and you’re talking decent numbers. I’ve learned a lot over recent years from your Podcast, but there have been a number of occasions where you’ve alluded to the fact that financial planning advice might differ for folk with DB pensions. One example might be the topic of opening a separate SIPP (in addition to the DB pension) to supplement retirement income (or to fund early retirement) or to move money outside the person’s estate. Another example might be the balance of ISA versus Pension: with some DB schemes, the benefit of “topping-up” is reduced compared with those in DC pensions. In many cases the employer isn’t adding “free money” to your pot, so for many there may be more reason to lean towards ISA contributions. Another difference might be the topic of investment risk – if someone with a DB pension has a guaranteed inflation-proof income in retirement, might they be wise to consider higher risk investments? And certainly without the dreaded “profiling”. Another example (as alluded to earlier) might be in Estate Planning: with a DB pensions, there’s no “pot” of invested money lying outside one’s estate, so there’s no IHT advantage. I realise this might amount to more than just a 5-minute topic for your Q&A edition, but I think you’d have enough listers to make a whole episode for DB pension recipients. What to you reckon? Thanks for all the great advice. Best wishes, Dr Pete 29:43 Thank you for all of your support over the years through the podcast and YouTube. I work for the NHS which is very tough at the moment but it does give me the benefit of a defined benefit pension when I get there. I am 35 years old but am wanting to make sure I am saving enough for retirement but also to make sure that I have enough for my children to support them through university and starting life! My wife is a fantastic stay at home Mum. We are aiming to have the “comfy” level of retirement at £58000 that you have previously mentioned which should give us some capacity to support the children! I earn £58000 plus about £7000 as a side hustle. I save into my NHS pension, save about 50% of the side hustle income into a SIPP, and save around £400 into a S&S ISA and £200 into cash savings each month. There are lots of examples about how much you should save but I haven't found anything when you are part of the NHS/other DB pension. Am I saving enough, or too much? I don't want to miss out on life now by over saving! Thanks, Alex 36:13 Enjoying listening to another excellent podcast where I heard the shout out for questions. One I had is “what’s the best tax efficient way to save for kids futures? I started going down the path of saving into JISA’s, but then didn’t like the idea of being unable to access the money on their behalf, or them to do so before 18. I contribute to premium bonds, but theoretically that will be capped at £50k (here’s hoping!). Any other obvious good suggestions?” Thanks & keep it up, continue to love the show. Cheers, Chris…

The Meaningful Money Personal Finance Podcast

1
YOU CAN be financially prepared for life events 56:05

28 روز پیش56:05

56:05

Today we’re going to be taking about being financially prepared for life events. This is important because it’s so easy to make progress with your finances, only to have the rug pulled out from under your feet by something unexpected. Or even something that IS expected… Shownotes: https://meaningfulmoney.tv/YC3 Everything You Need To Know 03:00 Life events – like what? 03:55 Marriage 04:43 Having a Child 05:09 Buying a Home 05:24 Career Advancement 06:02 Starting a Business 07:47 Receiving an Inheritance 08:44 Job Loss or Career Change 09:10 Divorce or Separation 10:04 Serious Illness or Disability 10:41 Death of a Family Member 11:36 Caring for Aging Parents 12:25 Children’s Education Costs 12:53 Relocation 13:45 Retirement 14:14 Unexpected Large Expenses 15:15 Being prepared means mastering the 3F’s – Foundation, Forward-looking, Flexibility. Everything You Need To Do 17:03 Foundation – Emergency fund, workplace benefits and personal insurance. LifeSearch - affiliate agreement. 28:38 Forward-looking – consider what may happen and what is likely to happen. 43:02 Flexible – keep things flexible so that we can be able to make changes as needed. 51:47 If big events happen – take your time, seek help. 53:35 Podcast Review…

The Meaningful Money Personal Finance Podcast

1
YOU CAN Learn To Invest 1:01:38

۵ weeks پیش1:01:38

1:01:38

In today’s episode, we show you how YOU CAN learn to invest. Honestly, it’s easier than you think! Shownotes: https://meaningfulmoney.tv/YC2 Everything You Need To Know 01:21 What is investing? Swapping your money for assets that grow in value, produce an income, or ideally both. 05:46 Why do people think it’s hard? 08:14 What you really need to know? Asset classes that matter - equities, bonds and property. Everything You Need To Do 29:48 Build a foundation first. 32:58 Start with money you’re probably already investing. 42:27 Open an ISA/LISA/Pension 48:40 Choose a fund - You want a global multi-asset fund. 52:25 Watch and learn - Commit to doing NOTHING for at least a year. 56:02 Don’t… 58:05 Podcast Review 59:20 The Meaningful Money Retirement Guide is due out on 6th May 2025…

The Meaningful Money Personal Finance Podcast

1
YOU CAN Be Good With Money 51:33

۶ weeks پیش51:33

51:33

Today we kick off a brand new season designed to empower you to take control of your finances. We’re excited for this one as we hope to show you that you CAN be good with money! Shownotes: https://meaningfulmoney.tv/YC1 00:01 - Intro 03:27 - Everything You Need To Know 23:29 - Everything You Need To Do 49:08 - A Review From A Listener…

The Meaningful Money Personal Finance Podcast

1
Questions & Answers, Episode 4 33:34

۷ weeks پیش33:34

33:34

It’s another Q&A show, and this week we cover managing finances under an LPA, Maternity pay, and what to do with a big windfall, plus lots more besides! Shownotes: https://meaningfulmoney.tv/QA4 00:58 Big fan of the show. Really appreciate your work. Dad is 92 with rapidly declining health (Dementia and mobility issues). He is still living at home with Mum (80) who is caring for him with family help. At the moment, it is about manageable. I am managing their finances. We have moved the majority of savings into my mum's accounts. I have used up mum's entire ISA allowance for this year. There is still around £38k of savings sitting in a no interest paying Barclays account. Due to their ages, I do not want to tie up the cash for too long, though at this point in time, they do not need to use this money as they are still able to live off my Dad's pension. Can you suggest how I might manage this chunk of cash? Possibly a simple savings account, but I am aware that the interest rates are not exactly brilliant, and I wonder about moving into a GIA instead (I have moderate experience buying/selling shares in my own SIPP and ISA, though I am personally high on the risk curve with investments heavily in MSTR and TSLA). Any advice would be appreciated. Cheers, Rich 05:08 Love the podcast (obviously!), it’s genuinely very helpful and has really helped me get my stuff together!!! Not sure if this is something you’d know about but, do you think you would be able to explain to me in your very listenable way, how to work out maternity pay, as in how it’s actually calculated and how to plan to make up the difference etc plus anything else that might be helpful that I don’t even know that I don’t know!! I can’t really find what I’m looking for anywhere else so just thought I’d ask as I find your explanations of things easy to understand (and could listen to you chat about anything tbh)!! Thank you! Jess 12:16 Thanks so much for your brilliant podcasts. I love the idea of the question and answer ones! I have a fun question I have been meaning to ask for ages. I keep my contingency fund in premium bonds, and I periodically enjoy a thought experiment, around what I would do if I were to win the big prize of £1 million. (I fully realise this will never happen, but it is a helpful thought experiment to get me thinking about where my priorities lie in case I do receive a much smaller lump sum in the future). I have no bad debts, I have a contingency pot and I contribute to a pension and ISA. My hypothesis is that I would give some to charity (maybe 10%?), might retain 5% for fun – a nice holiday or an upgrade to my car, would max out my ISA and pension, and then would split the rest between a world index tracker and one or two investment properties. I’m curious to hear your thoughts on this and how you would allocate. Thanks! Justyn 17:52 The mantra is that the most important time to take advice is when nearing retirement. That's certainly true for us now, and my other half sought some regulated advice recently in respect to tax free cash and pension recycling rules. The advice was provided (that it was not tax free cash recycling) & so we are continuing with the plan as discussed / agreed with the regulated IFA that we contracted the discussion with (we checked the company and the individuals credentials out on the FSA website .. All good). The question is (call me paranoid, but quite a lot of money – for us, is involved) what happens if in due course HMRC come to us and effectively look to impose penalties for us acting in accordance with the regulated advice provided / paid for (ie, they dont agree with it / decide it has broken the recycling rules)? I have no (sane) reason to suggest this will happen, but paranoia is a terrible thing!! Keep up the good work (oh, and Roger as well) Regards, Kevin Milsom 23:02 With UK inflation now only 1.7% (from 16 Oct 24), are we in a very unusual phase were inflation is less than half of the rate you can easily get on savings? This leads onto thinking about investing versus savings – we all invest to try and beat inflation, but we can currently do this easily with no risks via savings accounts. It is a conversation my wife and I are having at the moment! She is ‘saver' and I am an ‘investor'. Of course we have a good mix of both from all the guidance you have provided. Cheers. Dave Hicklin 27:40 Hello gents! Big fan of the podcast and the YouTube channel. Thanks for everything you do! Question for you – which I realise is pretty niche so you may not want to cover it. I am in the fortunate position of reaching max pension taper threshold (due to a great salary, some even greater RSU awards and an increasing company share-price!). I have some pension contribution carry-forward but will have used this all up by FY26. My employer do a 7% pension contribution if employee contributes 4%. But for those reaching taper threshold, you can opt out and the company will instead just give the 7% on top of your salary (which is very generous!). Thinking ahead, my question is: – Would it be better to: a) take the combined 11% contribution and opt for a scheme-pays for the tax above the £10k allowance when time comes. I am thinking this way I still get a years worth of investment of the pre-tax money before the tax is paid – which might be beneficial? or b) opt out and take the post-tax increase in salary and put this somewhere else? My wife's and mine ISAs will be maxed already, so would have to be GIA most likely (or premium bonds!?). I'm thinking A makes most sense. I still get the £10k tax free and benefit from some further untaxed money working for me for a little while at least. The tax has to be paid either way, but I am delaying it till later. What do you both think? Thanks very much! Paul…

The Meaningful Money Personal Finance Podcast

1
Questions & Answers, Episode 3 38:38

۸ weeks پیش38:38

38:38

Good to be back with another Q&A show to kick off the new year. This week we cover, ETFs, Pension contributions for high earners, tax relief for non-earners and lots more besides. Shownotes: https://meaningfulmoney.tv/QA3 02:21 First of all I have to thank you for the many years of enlightening listening that I have enjoyed. I thought it was excellent when Pete created the content, however it only improved with the addition of Rog. Yours is by far the best personal finance podcast that I listen to, and long may it continue. My question revolves around index funds & ETF’s. Many of the American podcasts cite the advantages of ETF’s over traditional index funds (unit trusts) however from what I understand this is due to tax considerations which apply in the US & not here. Please could you confirm if this is the case. I use a Vanguard index fund (unit trust) and wish to continue doing so, however am I missing out on not using ETF’s? Thanks again for all that you do for us, your listeners. Best wishes, Steve Horton 07:32 Love the podcast! I’m trying to understand what I can pay into my workplace pension. I’m close to £180k on my P60 & have no other income. My firm pay 6% into my pension, I then pay 6% which they also match. In addition I contribute another 2% so 20% in total, approx. £27k for a Pension Input Period. Feels like I have a relatively simple setup but I’m worried about breaching any limits around the £60k. Do I really need advice as I feel like I should be able to work this out myself! Thanks Steve D 11:26 I am 38 and 4 years ago came into a large sum of money (£600k). My wife and I were in decent shape with a manageable mortgage, life/CI insurance, decent pension balances. I opted to not employ a financial advisor, mainly because I was wary of fees. I am now questioning my decision. I have slowly been putting the money into my SIPP and ISA, keeping the rest in a GIA (invested in global index - Vanguard), paying the tax on dividends and, with time, capital gains. Also been using my wife's allowances. My question is this, was I silly to not employ a FA? Would there have been an obvious non-risky way of protecting the GIA balance from the tax-man, which would have paid for the FA many times over? We’re still saving into the GIA with regular monthly direct debits, although modest amounts. Love your podcast/YouTube output, which I feel have made me a better citizen - more relaxed because I am sure that my finances are unlikely to have any nasty surprises! Keep up the good work. Stuart 16:32 I've been listening to your great podcast for years and have a simply question for you both. If I am retired with no earnings and taking money from my drawdown pot, can I still contribute £2880 into a pension and get the £720 tax relief off the government? Can I do this even if I might not even be paying tax? Nigel 19:33 I’m 57, self employed (so no employer contribution for me!) and have a SIPP and Stocks and shares ISA. Basic rate taxpayer. I plan to start drawing from these in a few years time. I’m wondering ( as there aren’t going to be many years for the compounding ) whether it’s still worth adding to my SIPP? I’ll get the tax uplift if I put money into my SIPP but then 3/4 will then become taxable but I don’t think there will be enough time to make a gain large enough to offset the tax I will then pay. Should I just bung everything into my ISA? Have I missed something? Thanks very much if you’re able to answer my question! Best LC 25:23 I made a mistake when starting my investment journey by choosing platform recommended funds which are currently not performing well. I have had them for 3 years, is it best to cut my losses and invest in to my choice of global multi asset fund which I've had for 2 years that has been performing well? Thanks, Marc 30:08 Matthew asks: 1. My wife and I are selling both our homes (bought before together) and moving into a rental for 1-2years in a new area before we buy. We will have £500k in cash for 1-2years. Are we best investing in government bonds? Premium bonds? High interest savings accounts? We’re both top rate tax payers and have no other assets. 2. My NHS salary will soon go over £100k and we are starting a family. You speak a lot about overpaying pension for tax reasons and it also helps keep the £20k childcare allowance. I don’t think I can overpay an NHS pension, or can I? Others seem to be getting cars on lease to avoid it. Any ideas?…

The Meaningful Money Personal Finance Podcast

1
Helpful Basics -Combining Pensions 37:51

14 weeks پیش37:51

37:51

Today we’re going to look at combining or consolidating pensions - a big subject which we’ll try to do some justice… Shownotes: https://meaningfulmoney.tv/HB10 What You Need To Know 02:15 Why transfer? 04:47 How the process works. 07:47 Things to watch out for. 14:39 About Defined Benefit transfers. Everything You Need To Do 26:44 Get up to date with your existing plans. Pension Transfer Checklist (PDF) 28:27 Decide if there’s any reason to leave the pension where it is. 29:44 Request the transfer. 31:07 Chase to completion. 35:07 Podcast Review.…

The Meaningful Money Personal Finance Podcast

1
Helpful Basics: The Financial Advice Process 55:27

15 weeks پیش55:27

55:27

In this episode, we want to look at the financial advice process, and give you the helpful basics that you need to think about if you are considering getting professional financial advice. Shownotes: https://meaningfulmoney.tv/HB9 What You Need To Know 02:24 Advice vs planning - Advice is product-led, Planning is outcome-led. 08:11 The Financial Planning process. 08:50 Establish and define the relationship. 11:50 Collect client information to have context for advice. 15:04 Analyse and assess the current position. 16:45 Develop the plan and make recommendations. 22:32 Implementation. 23:33 Ongoing review. 28:05 Costs and value. 35:00 Qualifications and designations. What You Need To Know 39:03 Begin with the end in mind. 41:30 Contact several advisers. 45:47 Get costs and scope in writing. 48:25 Be prepared to be vulnerable. 53:50 Podcast Review…

The Meaningful Money Personal Finance Podcast

1
Listener Questions - Episode 2 29:53

16 weeks پیش29:53

29:53

It's time for another listener Q&A! This time we cover paying off student loans, old pensions, alternative to pensions and ISAs and much more. Shownotes: https://meaningfulmoney.tv/QA2 00:40 Sophie - My question is that I am about to start earning a lot more than I thought I was as a graduate. I have always been told to ignore my student loans by my parents as it's essentially a tax, but looking at some calculators I would pay it all off in 25 years before it gets cleared and pay more than double the £45,600 in interest. I'm thinking of trying to overpay it off more quickly than that as it seems very big to have especially with 7.3% interest rate. I'm not sure if I should prioritize this, as I could start now, but as I'm starting work I'm still very uncertain of what to save and how I should treat this debt. Or should I not worry about it this early on? 06:55 Ellie - My partner recently traced a pension from an old employer. When he contacted the company they told him the pension was all paid out to him when he left the company, 9 years ago. He was 28 at the time. Is that possible? I believed it wasn't possible to access pensions until 10 years before state pension age. The exceptions I'm aware of (certain types of job/illness) aren't relevant here. I can't believe this pension would have had particularly special properties. It was while he was working for Experian. He doesn't remember receiving a lump sum, and is checking with his bank (it's too far back to see online). Did the person he spoke to just make a mistake? He is reluctant to go back to them without anything concrete, and it is hard to trust what they say. Any advice on what to do next? 12:15 Joanne - I am a higher rate tax payer and contribute to a SIPP on top of my employer pension (very generous DB scheme) to keep my earnings underneath £100k so that I can benefit from free childcare hours and about the 60% tax trap bracket between £100-£125k. However, I am now breaching the annual £60k pension allowance and so end up paying significant tax on the additional pension contributions in my self assessment. I am so aware that this is a privileged position to be in and want to contribute my fair share of tax but I wondered what other channels I should be exploring to be as tax efficient as possible please (I have never dabbled in VCTs!) 18:44 James - How do I weigh up the relative value of AVC on my DB pension rather than investing in a LISA or S&S ISA where I retain my capital? 22:25 Giles - I have fallen into the 60% tax trap on a number of occasions, to mitigate this I have tried to top up my pension to get my earnings below 100k to reduce my tax bill. Being the main earner and with 2 very expensive teenagers I don’t have enough spare cash to do this easily so have taken the money out of a S+S ISA in the past. I know this shifts the balance of my assets massively into pensions but it seems worth it to reduce tax. My question being is this a reasonable plan? Is it a good idea to do this or am I better keeping retirement options more flexible with a larger ISA pot?…

The Meaningful Money Personal Finance Podcast

1
Helpful Basics: How to be intentional 41:22

17 weeks پیش41:22

41:22

Today we’re going to focus on a subject that we often allude to, but which we want to take a bit further and deeper. We’re always talking about the need to be intentional, but what does that actually mean, in practice? Shownotes: https://meaningfulmoney.tv/HB8 Everything you need to Know 02:03 The definition of being intentional . 02:59 About goals . 06:48 Consistency . Everything you need to Do 07:50 The Two Spheres . 08:58 Be intentional with our personal finances . 18:38 Be intentional with our investments . 37:37 Rinse and repeat. 38:49 Podcast review. Meaningful Academy Financial Foundations https://meaningfulacademy.com/financialfoundations…

The Meaningful Money Personal Finance Podcast

1
Helpful Basics: Pension vs ISA 46:01

18 weeks پیش46:01

46:01

In today’s episode of our Helpful Basics season, we’re going to be talking about Pensions and ISA, explaining how they work, comparing them and helping you to know which ones to use and when. Shownotes: https://meaningfulmoney.tv/HB7 Everything you need to Know 02:07 Paying money IN. 13:50 Taking money OUT. 22:40 What happens when you die. Everything you need to Do 33:07 Join your employer's pension, or stay in it, or open one if self employed. 36:50 Use ISAs for medium term savings. 38:17 Use LISAs for first-time house purchase or to supplement retirement savings. 40:17 Blend 41:15 Be intentional, review regularly. 43:56 Podcast review.…

The Meaningful Money Personal Finance Podcast

1
Helpful Basics: Self-employment and side hustles 42:50

19 weeks پیش42:50

42:50

Today we’re going to be covering Helpful Basics in the area of self employment and side hustles. We’ll be talking about what you need to know and what you need to do if you’re planning on going it alone in business or supplementing your income in some way… Shownotes: https://meaningfulmoney.tv/HB6 What You Need To Know 01:55 What is self-employment? 04:08 What is a side-hustle? 09:18 How tax works as a self-employed person. Everything You Need To Do 20:37 Start as you mean to go on. 26:44 Register for self employment. 29:22 Start a pension. 31:07 Think about insurance. 34:03 Plan for the future. 39:25 E-myth Revisited book. 40:40 Review of the podcast…

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