The Meaningful Money Personal Finance Podcast

This week we devote an episode of the MMQ&A to pensions of all flavours, answering questions on public sector schemes, partial transfers, fund choices and much more! Shownotes: https://meaningfulmoney.tv/QA12 00:52 Question 1 Hi Chaps! I only recently got into podcasts and am frantically trying to listen to as many pension ones as I can. Yours are the most useful I've come across and now I can't stop listening to them all! A small question I hope you can clarify for me please: I am 48 and a few years away from possibly an early retirement (hopefully 58) but trying to plan ahead. I have both a DB pension through work (NHS) and a personal Vanguard SIPP pension I also add to monthly and am of the understanding that you can take 25% tax free (up to the set limit) from your pensions overall and therefore my question is- could I take all the 25% tax free amount from my SIPP and leave the rest of my SIPP and all my DB pension pot to pay me a pension from. In example (arbitrary figures): my DB and SIPP are each worth £100000, totalling £200000. Therefore, under current rules, could I take £50000 tax free from the SIPP (the overall 25%) and the other £100000 in DB and £50000 left in my SIPP to pay me a pension monthly. Or is this not possible at all as they are different schemes, ie DB and DC? Many thanks Jon, from Norfolk 05:30 Question 2 Hi Guys, Firstly, a massive thank you for all the information you provide, it really has completely transformed my personal finances. I still have a long way to go until retirement (I've just turned 30) but thanks to you, I'm confident it won't have to be the state pension age! My question is – I work in Local Government and, whilst the salary is distinctly average (37k) it does come with the benefit of a DB pension scheme. I'm now considering making some additional contributions but there are two options available and I'm struggling to find any useful information online… – Make AVCs into what I understand to be a separate pension scheme more akin to a DC pension – Make APCs whereby I effectively buy more DB pension. It works out at approx an additional £10 guaranteed yearly income for every £80 (£100 if including tax relief) I contribute. In my head, this sounds good as long as I make it 10 years into retirement! Is there an obvious answer to this question? Only obvious downside to the DB option is, if I were to pass away before retirement, the additional pension is effectively lost and not paid to my next of kin! But then again, I don't intend to go anywhere anytime soon! Any thoughts appreciated and thanks again! Jack 12:03 Question 3 I have a question relating to the upcoming change in minimum pension age and how it affects those of us in the 55 bracket before the 6 April 2028 change. I don't know if there is any clarity from government yet but if I am 55 in September 2027 and take a PCLS 25% tax free from an AVC DC running alongside my DB pension scheme, then want to retire fully and start taking the DB in September 2028 when I am 56 is that possible? There seems to be a grey area about what happens after the April 2028 cut off to those of us in this age range. It doesn't even appear clear if someone taking early retirement at 55 would then stop being eligible for monthly payments after April 2028 until they were 57. So they think they have retired fully, then when April comes around their payments stop! Appreciate that sounds a dramatic scenario but I haven't been able to find anything comprehensive on it so hope you can help. I also have a question on DBs with AVCs which might be useful for others. If I have a DB pension valued at £300k and saved £75k in AVCs over the years, can I take the full £75k at 55/57 without it a) affecting the DB monthly amount which can be taken from age 60 in my case, and b) without it being classed as a pension event, so I can continue to contribute over £10k a year into a DC scheme as I plan to continue working until 60. Appreciate they are specific to me but thought there must be others in a similar position. Sorry for more long questions. Thanks for all the great podcasts, look forward to the next. Thanks, Don 19:34 Question 4 Hi Pete! Hi Rog! I've been a long time listener to your dulcet tones and concise advise for a long time and love what you guys do, so please keep doing it! Another pension Question I'm afraid! A while ago I consolidated a few old workplace pensions in to a SIPP, but I still have my current workplace DC pension ticking away. Its not great, being the bare legal minimum (2.5% contribution from my employer) and the fees seem higher than they should be. If I close that pension and transfer to my better performing and cheaper SIPP, I effectively opt-out of the employer contributions scheme. My question is what should I do to be most efficient with my pensions to ensure I am getting the benefit of employer contributions without paying over the odds for an underperforming scheme? I'm 34, and (thanks in no small part to you) fee

This week we answer questions on the loose theme of capital gains tax and investing via General Investment Accounts (GIAs). Spoiler alert - nothing's as simple as it might seem! Shownotes: https://meaningfulmoney.tv/QA11 01:06 Question 1 Whenever a question comes up in our Facebook group about Capital Gains and GIAs (General Investment Accounts) I get a sinking feeling as I do not know much about that type of account, and I don't have one myself. I am not alone. I have gathered questions from our listeners about capital gains, so in this episode Pete & Roger can tell us all about Capital Gains, Dividends, and anything else we need to know about using a GIA, and other situations which involve capital gains tax. 19:03 Question 2 Hi both, I've recently discovered your podcast and have thoroughly enjoyed my commutes listening to you. Personable and informative. I have a question about selling my buy-to-let property that is in my personal name. My mortgage term is ending in June 2026 and I'd like to sell it for one of better quality that has less issues. I'm currently a higher-rate taxpayer but we're planning to start a family in the next year, meaning I'll be on maternity leave for 12 months which will push my salary down to basic-rate. Impossible to plan when I'll get pregnant but it would be useful to know how HMRC calculates my salary (and over what time period) so that I pay basic-rate CGT when selling my buy-to-let? Apologies for a very wordy question! Thanks a lot and best wishes, Winnie 22:17 Question 3 Hi Pete, I hope you're doing well! I've been really enjoying the Meaningful Money podcast and had a question I'd love to hear your thoughts on the show: In a general investment account (GIA), is it's better to use an income fund to avoid triggering CGT if income is needed (assuming the dividends covers the needs in the short term)? Thanks so much for your wisdom! And keep up the great work on the podcast! :) Best regards, Chloe 26:53 Question 4 Hi Pete, Roger (and Nick who I assume is reading this :-)) I have a question I'd be grateful if you could answer which is around capital gains tax on any shares or funds held outside an ISA/pension. To use an example with higher numbers so that the allowance is used for simplicity: - You have £100k in a GIA - it increases by £10k a year for the first two years; - it's then down £2k in the third - the total value is now £118k - You then want to draw out £10k - How do you work out what capital gains the tax is to be paid on i.e. is the full £10k considered a gain? - Is the withdrawal from the original £100k or from the increase in value i.e. gain? - Would you be better to withdraw up the annual allowance every year and then put it back in to reduce the gain, considering there's no allowance for the impact of inflation? Love the show, keep up the good work in whatever format you decide going forwards - you've made real differences to the way I've managed my investments over the years, especially at scary times like Covid and your book and courses have given my kids the education they need for their long investing lives. Thanks, Dino 36:39 Question 5 Hi Pete & Rodger, I started a deep dive into our overall finances over the Christmas period, to set the picture I am 47, my wife's 42 and we have two children a boy 5 & a girl 3. I received a diagnosis last year which will have a long term impact on my ability to sustain my current level of income & type of work I do. We have a 154k mortgage with 19 years left on the term, with the uncertainty around my health I have decided to target maximum overpayments on the mortgage, this year we can pay 18k extra. My questions are: 1. I plan to save circa 1k per month salary to put into the overpayment pot, I am hopeful that the HL shares will meet past highs and I can use some of that money to top up the salary savings and hit our target. Do I pay tax on the profit I make from selling shares? If it's no more than 3k? I was hopeful I could sell shares annually and withdraw the gains annually, then reinvest in same stock when they dip. I realise that past performance isn't always guaranteed but monitoring since covid the stocks I am invested in are fluctuating from a £15 low to £20 high annually. So looking to sell at £19.5. Is this the best way to use the extra cash at present given the plan to access quickly at times. I have maxed out isa allowance for current FY (2024/25) but will probably pay the 1k per month into an isa in new FY. 2. I am planning to do lump sum overpayment rather than setup monthly, just to give easy access to funds should they be required. I plan to cash in some company SIPPS annually when they aren't taxable (after 5 years) that sum will be on average 1k per year. Will the SIPPS cashed in and gains from HL sales leave me vulnerable to paying capital gains tax? If all goes to plan we could be mortgage free by 2033 approximately and there would be less of a dependency on my salary. Deep down I just want us to be

We really hesitated to put anything out regarding the current market volatility as we didn't want to add to the noise. But now that we're a couple of weeks in, hopefully the hysteria is starting to abate, and we can take something of a measured of things. We want to reassure you that discomfort is normal, but also provide some context that things are not as unprecedented as they might seem… Shownotes: https://meaningfulmoney.tv/session571 02:20 This time it's different. 11:30 The US market is too concentrated. 15:26 I don't have time to make it back. 20:50 Time IN the markets beats timING the markets. 25:48 Action (or inaction!) – What you need NOT to do?

As usual, we cover lots of ground in this week's Q&A, including tax-free cash recycling, private medical insurance and Lifetime ISAs. Shownotes: https://meaningfulmoney.tv/QA10 00:57 Question 1 Dear Pete & Roger. I'm a long-time listener and love the podcast, especially more so since Roger joined back in season 21. I'm an additional rate taxpayer with income below the threshold for the tapered annual allowance. I have been contributing £45k to my workplace defined contribution pension via salary sacrifice for the last couple of years, and my effective tax relief rate on contributions is 47%. This coming April (2025) I will turn 55 and will be able to access my pension. I am considering increasing my salary sacrifice contributions by £14,000 per year and funding this by taking just under £7,500 PCLS (i.e. tax-free cash) from my pension. Having watched the MeaningfulMoney video on Tax-Free Cash Recycling and checked the HMRC web site, I know this is not considered tax-free cash recycling because the PCLS withdrawals will be below £7,500 per year. However, I don't know if sacrificing £7,500 of tax-free cash in return for £14,000 of new contributions will have any unintended consequences. In retirement I plan to withdraw money via UFPLS and use tax-free cash to minimise my effective tax rate and have no plans to use it to fund large purchases. Have I missed anything? Simon. 04:01 Question 2 Hi Pete, I hope you're doing well! I've been really enjoying the Meaningful Money podcast and had a question I'd love to hear your thoughts on the show: With the long waiting times on the NHS, is having private health insurance a new 'must have' protection or still a 'nice to have'? Thanks so much for your wisdom! And keep up the great work on the podcast! :) Best regards, Chloe 07:05 Question 3 Hi guys - thanks for all you do with this podcast. I've been incredibly fortunate to find you in my 20's and absorb so much useful knowledge. My question is surrounding LISA's. My fiancé and I currently live separately but we're looking to move in together ahead of our wedding this summer. She owns her own home and I currently rent so we'll be moving into her house. Our plan is to live for a couple of years in her (or soon to be our) house as she managed to secure a favourable rate that will help us to save together for our next home. The majority of my current house deposit (around £35k) is in a LISA, however in the last year or so I've quickly realised that our next home together will probably sit above the £450k limit that LISA's allow. Given that we live in a pretty expensive area and want to stay here, is there anything you would suggest? We've thought about me 'buying in' to her current house but we don't want to remortgage and lose the favourable fixed term. Any ideas? Cheers, Joe 11:38 Question 4 Hi Butch & Sundance, my question is about SIPPs & ISAs and tax implications when used with State Pension and a Defined Benefit Pension. I'm planning to retire 7 years before state retirement age (67) and plan to use a DB pension and SIPP in those 7 years. The annual income from the DB pension will exceed the current basic rate income tax annual allowance (£12,570) and withdrawals from the SIPP outside of the tax-free lump-sum, would all incur basic rate income tax. I would like to keep investments that continue to grow, but with the removal of some IHT benefits within a SIPP, is it now worth withdrawing more than I need each year and moving the SIPP investments to a Stocks & Shares ISA over the next 7 years and therefore reduce tax paid over the following 20-30 years from the age of 67? Or am I making more of minor issue than is needed? Keep up the excellent work, Jack 16:36 Question 5 Hi both, Love the podcast! I have a question regarding pensions. I have an employer (defined contribution) pension that had been with one provider (chosen by my employer) for the last 11 years. My Company has recently terminated the agreement and mine and my employers contributions are now all going to the new provider and fund. I chose not to transfer my original pension from the original provider to the new provider, as the existing fund had been performing so well. Following a review of both pensions over the last 6 months, I discovered that my existing pension had continued to be perform very well - over double the return compared to the new pension provider and fund). Whilst I understand I could switch funds with the new provider, my preference would be to do an annual transfer from my new pension fund & provider to the original provider and fund. I cannot seem to find any information on how to do this (all the information online is focused around transferring and shutting the new account - I don't want to do as my employer and personal contributions will continue to be directed to the new provider and fund. Thanks for your help, Matt 21:25 Question 6 Hi Pete and Roger I have a question about pensions for low earners. I have been listening to your

Welcome to another Q&A show - this week we cover tax free cash from DB pensions, annuities vs drawdown and whether you should pay down a buy to let mortgage or invest. Plus quite a bit more! Shownotes: https://meaningfulmoney.tv/QA9 Questions 00:41 Question 1 Hi Pete and Roger. Thanks for your wisdom over the years. My question came about from an answer you gave on a previous Q&A about AVCs and tax free cash. You mentioned it was possible (sometimes) to use AVCs as tax free cash to preserve the maximum DB benefit. I have some follow up questions that relate to - A small DB pension that doesn't appear to offer tax free cash. - A small DB pension that does offer tax free cash, but I have left that job so can no longer contribute to that pension (AVCs or otherwise) I don't have AVCs in these pensions, but I do have a DC pot separately. Would I be able to use take tax free money from my DC pension if I took it at the same time I took the DB pension sort of in lieu of the tax free component of my overall pension? I suspect this is clutching at straws, but thought it worth checking. Many thanks. Loyal listener, Mark 03:11 Question 2 Hi Pete & Roger! I hail from Northern Ireland and enjoy your Podcast to keep my mind active and up to date in all things financial - Top job. I have been looking at having a go at Voyant after various spreadsheets of my own as a way to play with the numbers so was considering a meaningful academy course - question is which course is right for me? I am in mid 40's and financially secure so in theory wealth all ready built? Mortgage paid, multiple residential and commercial properties owned debt free and an sizeable equity portfolio and so should I be looking at the retirement or wealth course? John 05:30 Question 3 Great podcast and been an avid listener for the last year. I have a question which, I think I know the answer but I'd be curious on your perspective. Background: - I divorced in 2021 and as part of that agreed to transfer the house over to my ex-wife and a charge put on the deeds so that when it's sold I'm owed a percentage of the sale. - The house going on the market will be (or should be) triggered when my youngest son reaches 18 or leaves full-time education. This will be either 2028 or 2031. - Since the divorce I've been able to purchase another house and this is my permanent residence. I'm a higher rate tax payer, and when that ex-marital home is sold I'd expect to get somewhere around £200k. However I won't actually need that to hit my retirement goals and would prefer to pass that onto my 3 kids. Could you please discuss options on how I might do that in the most tax efficient way. Best Regards, Dave 10:38 Question 4 Hello Pete & Rog, I stumbled across the show a month ago and have been "binge listening" since then, its amazing, where have you been all my life, keep it up guys. I am actively preaching the Gospel according to Pete to all and sundry. I am a 61 years old Veteran in receipt of a Military (DB) pension to the amount of £18k per annum, which is index linked to CPI. Additional to this, I have a moderate private pension to the amount of £150k which I contribute £500 per month, it has an approx growth of circa 15% I also have a small Stocks and Shares ISA, valued at £15k which I contribute a minimum of £250 per month, this is also growing at approx 14% pa. I am currently working and contributing the minimum amount into a work placed pension with NEST. I am planning to look at retirement at either my next birthday in October 25 (62yrs old) or continue until 65 as I am enjoying work. I have deliberately avoiding factoring in my wife as she is a senior manager within the public sector and has a good DB scheme Final/Average earnings Pension. My question is pension related and I have a dilemma as to decide between either an Annuity to boost my Mil Pension or veer towards a form of drawdown option at a higher rate until SPA and then look to reduce down withdrawals in order to be tax efficient and make it last longer? I am debt free with mortgage paid off and only real major expense is a holiday account which we both contribute to as we like luxury holidays, I hear Rog saying "spend it now". No plans to put anything towards estate planning as both sons are very successful and they will probably inherit our home in time. Just looking for some guidance on what feels may be the right decision under the circumstances, keep up the great work guys, love the show. Michael 16:34 Question 5 Dear Pete & Rog, I have a pensions Annual Allowance query, the answer to which might be of interest to the MeMo community. A relative uses salary sacrifice for her occupational DC pension scheme, and the employer contributes £40k, annually, into her plan. Normally, she doesn't make any personal contributions into any pension schemes, but after receiving a windfall, she is minded to do so via a newly opened SIPP — she has rejected the option of increasing her salary sacrifice amount, and wis

It's another Q&A, and this week' we're talking Lifetime ISA withdrawals, whether you need life insurance and the NHS pensions scheme, among other things! Shownotes: https://meaningfulmoney.tv/QA8 01:08 Question 1 I just wanted to start by thanking you so much for your podcast. I'm probably one of your younger listeners, having started listening to you when I was 26. I feel very fortunate to have discovered your podcast at such a young age, as it means I will hopefully have years, if not decades, to put your excellent advice into practice. I have a quick question that I was hoping you could help me with. I currently have a LISA that I was planning to use as a deposit for a house. However, I am now planning to move to Australia permanently with my Aussie fiancée. I have separate savings that I can use for a deposit now, but since ISAs are not recognised in Australia while UK SIPPs are, would it be wise to take the 25% hit by withdrawing the money from my LISA and transferring it into a SIPP to benefit from higher rate tax relief and continued tax advantages? I understand you cannot offer specific advice, but I would be interested to hear if there are any general pitfalls or advantages in this plan that I should be aware of. Many thanks! Simon 04:40 Question 2 Will try to keep this brief but is challenging. Do we need life insurance? If I die whilst employed my wife gets a lump sum which will cover our only debt the mortgage through my DB pension scheme. If I retire aged 60-65 my lump sum will cover any mortgage remaining if still have one. My wife has no such pension / cover if she were to die (currently between jobs). I have emergency fund / Overpay into pension for tax relief & child benefit purposes / and recently opened stocks and shares ISA for myself and 2 children. Age 39 trying to build for future but started late :) Many thanks Lee 09:55 Question 3 Many thanks for all the ongoing information and discussion, I've been listening for years, but still learning and trying to put into practice all positive behaviours (just like with diet and exercise, knowing and doing are rather different!). A question and a thought. Question; (apologies, after I typed it, it turned out to be very long and NHS specific so feel free to ignore, but I think the point about revising tax returns after submission when new info comes is more generally applicable). I'm in the NHS pension scheme and am awaiting my RPSS after McCloud judgement. They were due by October. It's November and I haven't had mine (many others say the same). I believe they are prioritising those with who have definite AA charges and I doubt my NHS figures trigger that as I was part time for much of the relevant period. However, I also contributed to a private pension every year, the amounts varied, but were usually calculated quite closely using the AAPSS that I had at the time to maximise residual allowances - so basically I think I may now have Annual Allowance issues that I didn't at the time, but am not being prioritised by the NHS pension scheme for a new statement because they don't know about my extra contributions. Added to this I have already submitted my 23-24 tax return before I realised there might be a problem. Others have added a comment to theirs essentially saying 'watch this space for more information' and apparently have 12 months to amend them once their RPSS arrives. So, the question is, can I still change my tax return (submitted on behalf by my accountant if that's relevant) if new information becomes available after Jan 31st (or even in the new tax year)? Do you have any advice for those waiting documents from the NHS pension scheme or insider knowledge re. Timescales for remaining documents? Anja 13:28 Question 4 Thank you so much for an amazing podcast! My question… After 7 years of a long distance relationship, I'm talking to my partner about moving in together. Apart from checking your significant other listens to the podcast (mine does - phew) what are the most important areas to cover when thinking about joint finances, particularly if you haven't talked much about money before? Thank you! Elizabeth 19:07 Question 5 Hi Pete and Roger! Thank you so much for the show. I've been listening for the past 6 years and have gone from saving for a house to learning about pensions and now actively pursuing building my pension and ISA pots so that I can be 'work optional' as soon as possible (hoping to be there in 5 years and would not have known where to even start if it wasn't for your podcast). My question is how does the actual mechanics of drawing down from a pension work? Is there an equivalent of PAYE for pension draw downs? How is income tax calculated and collected? Would a tax return need to be done? Thanks so much!! Gavin 24:07 Question 6 I am approaching the Lifetime Allowance (used 91.43%) but my Armed Forces Pension tax-free amount I received was less than the 25% for the amount of LTA used ( 58.96%). I have a Transitional Ta

Welcome to another Q&A show. This week we cover moving abroad, inheritance tax and paying into a pension while drawing from another, and lots more besides! Shownotes: https://meaningfulmoney.tv/QA7 01:16 Question 1 I've been a long time listener for my entire working career and your podcast has been invaluable to getting me to the great position I'm in now. I have recently been offered a very exciting job opportunity abroad (specifically Luxembourg) and I'm thinking about financial issues I might want to cover. I am 29 and have a mid-five figure sum in each of my ISA, LISA, and DC pension in the UK. I hope to save and invest heavily abroad with a FIRE sort of philosophy. I wonder if there are any big things to think about in preparation for a move, or things to do while in the EU that will make a move back easier. I realise this is probably a complex question, and maybe too niche for a podcast episode. I've considered getting a one-off consultation with a financial advisor before my move, do you think this would be worthwhile, and if so what sort of service or green flags should I be looking for? (Assuming Jackson's is not a specialist in this area!) Thank you again! Stuart 06:24 Question 2 Hi Pete, Hi Roger, May I ask a question about pensions now being subject to IHT. My father in law's strategy for passing on his wealth was to pass on an unused pension, previously protected from IHT, and he had also invested in AIM shares, again also previously exempt from IHT but now subject to 20% tax. He is nearly 82. What options might you suggest for him to consider on either of those points, but in particular the pension point. Draw the pension and gift it? Thank you very much. Love the pod and religious listener! Jo 13:00 Question 3 Hi Pete and Roger, A great many thanks for all that you do towards simplifying personal finance principles. It is with thanks to your guidance that I am living within my means and on a budget with clear financial objectives. My question today is on behalf of a family member, let's call her Glynda. Glynda is 58 years old and intends to continue working until she can claim her full state pension. She currently has two private pension pots, one is a SIPP on the Vanguard platform and one is her workplace scheme with a smaller provider I've never heard of called Creative Trust. A few years ago, she chose to withdraw her 25% tax free cash allowance from her SIPP with a view to investing this in rental property. For one reason or another this didn't actually happen so she is now saving this aside as her 18 month cash buffer. To withdraw the 25% tax free cash, she had to "crystallise" the entire SIPP pot. The remainder is still invested in 100% equities - the growth engine as you say, but it is now in a flexi access drawdown account, not a pre-retirement pot. Meanwhile, the workplace scheme is growing nicely with contributions of around £3500/yr, which is not insignificant on her modest salary. This pension is not yet "crystallised" and is also aggressively invested through the limited fund selection on that platform. You have spoken at length about pensions but my question has not yet come up, though I appreciate it may be niche. If the SIPP has been crystallised and the Workplace scheme has not, can they still be combined? Does Glynda need to take her tax free cash from her workplace scheme BEFORE transferring/combining this scheme into her SIPP for ease of management? If she opts NOT to take the tax free cash before transferring, does she lose that option? What is the point of "crystallisation"? Why is it even a thing in a world of flexi access drawdown, it seems irrelevant to me. Do platforms charge different levels of fees post-crystallisation? If so, can Glynda transfer her crystallised SIPP to a new provider if savings can be made on fees. Many Thanks, Sam 19:48 Question 4 Hi Pete and Roger, I have been an avid listener to the podcast for a long time now, probably 5 years, what a journey! Thank you for all the content you put out. Pete; I think I read your book first which put me on to the podcast, or perhaps it was the other way around, I can't remember. I'm pleased to say that when I read your book, I then went through it with a fine toothcomb and ticked off everything I needed to do! Needless to say I've been in a good situation for a while now, thanks to you, your book and this podcast. I still use a Meaningful Money Budget Spreadsheet to plan my monthly finances! I did leave a review a good while ago on the app store letting you know how Meaningful Money has helped me! I have attached a picture of my copy of your book, hope you don't mind all the post it notes! My question is surrounding Emergency Funds and what criteria we should apply as to whether something is an "emergency?" Classic things such as a broken down car, a leak in the house or the boiler breaking down are all perfect scenarios for an emergency fund. But what about other more vague scenarios? This question has come a

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

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.

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/

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 hav

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

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

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

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

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?

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.

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

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?

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

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.

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

We have a slightly different episode because today I am speaking with the good people from a company called CheckMyFile all about credit files and credit scores - why they are important and how we can optimise them to our benefit. CheckMyFile: https://meaningfulmoney.tv/checkmyfile Shownotes: https://meaningfulmoney.tv/HB5 01:33 - Pete chats with Beth. 04:15 - What is a credit record / credit report / credit score 06:50 - Purpose of a credit record. 08:52 - What makes a good / bad credit file 12:00 - Credit card to increase your score before buying a house - is that true? 13:26 - Important to be on Electoral Role. 14:28 - Bad debts, using debt responsibly. 18:15 - What can be done to improve your credit score? 21:24 - Credit is attached to person, not address. Financially linked people. 23:40 - Check your credit file. 26:35 - Is there a business equivalent? 27:43 - What is CheckMyFile and why should people use it. 32:00 - Pete and Roger chat and a podcast review.

In this episode we want to cover the helpful basics of a subject that underpins EVERYTHING to do with personal financial success - behaviour. Shownotes: https://meaningfulmoney.tv/HB4 Everything You Need To Know 02:06 We are really bad at making good decisions. 07:18 Many things are objective. 13:40 Our higher functions allow us to pre-think decisions. 15:56 Our goal is to be intentional. Everything Your Need To Do 19:05 Know yourself. 27:35 Set clear goals to keep you on the path. 32:33 Use all the tools at your disposal. 42:55 Pursue higher thinking. 52:40 This week's reviews

It's our first dedicated Q&A show! Roger and Pete answer six great questions from YOU - the listening audience. Shownotes: https://meaningfulmoney.tv/QA1

In this episode we're going to do our best to give a decent run down of the State Pension - something that will form the backbone of most people's retirement income. We need to understand how it works, how to check what we're due and how to maximise it. Shownotes: https://meaningfulmoney.tv/HB3

Today in our Helpful Basics season, we're going to talk about choosing your first investment. Lots to cover, but should be fun! Shownotes: https://meaningfulmoney.tv/HB2

This new season is called Helpful Basics. Each week, Roger and Pete will pick a subject each week which might seem like a fundamental or basic subject, but we'll try to go pretty deep so that everyone learns something. For the first episode of the Helpful Basics season, we're going to cover what you need to know when you first start working. Shownotes: https://meaningfulmoney.tv/HB1

Today I'm chatting with my friend Alastair Ford about a project we've been working on together, but also about our rationale for it and why we think it's a timely addition to the Meaningful family of services. Meaningful Coaching: https://meaningfulcoaching.co.uk Shownotes: https://meaningfulmoney.tv/session545

Today I'm joined by my friend Dave Algeo a mid-life health coach to talk about the link between health and wealth and lots more besides. Shownotes: https://meaningfulmoney.tv/session544 Dave's Daily Sprout email: https://midlifereshape.com/MM24

Today we want to talk about the last Big Mistake, one which we come across all the time with our older clients, and that is worrying about care fees. This is an important one that we want to cover to give you some reassurance. Shownotes: https://meaningfulmoney.tv/BM10

Today, in the penultimate episode of this series, we're talking about the Big Mistake of Not Spending Enough, which might surprise some people! Shownotes: https://meaningfulmoney.tv/BM9

We're on the home straight of a season covering the big mistakes we can all make with our finances, and today we're talking about neglecting our financial reviews. It's easy to put things off, but keeping a regular eye on our financial situation is so, SO important. We're going to talk about why that's the case and how to make it as easy as possible to make sure they happen every time. Shownotes: https://meaningfulmoney.tv/BM8

Today we're going to be talking about the big mistake of waiting until… Until what? Well, we mean putting off making decisions until some arbitrary point the future, or until some self-determined set of circumstances come to pass - all will become clear, we hope! Shownotes: https://meaningfulmoney.tv/BM7

Today we revisit the vitally important subject of what the experts call behavioural finance or behavioural economics, which is really the study of how we interact, as emotional human beings, with the cold, hard world of finances. Shownotes: https://meaningfulmoney.tv/BM6

We're carrying on our season of Big Mistakes and today we're covering the mistake of not planning for later life, which is truly a big mistake. There's lots to think about in later life and too many people leave it too late, causing problems for themselves and their loved ones. Shownotes: https://meaningfulmoney.tv/BM5

Today we're going to look at the big mistake of Being Too Cautious, or to put it another way, taking too little risk. Obviously we're talking primarily about investing here, and we want to talk about why risk is your friend and the impact of taking too little risk on your future outcomes. Should be an interesting discussion! Shownotes: https://meaningfulmoney.tv/BM4

We bang on about watching our investing costs all the time. And for good reason - not paying heed to the impact of costs can mean throwing away money unnecessarily. Shownotes: https://meaningfulmoney.tv/BM3

Today we're going to talk our second big mistake: starting late. Of course this may not be a mistake, it may be the result of circumstance, and as we all know, life doesn't always conform to the perfection we'd perhaps wish for ourselves. Shownotes: https://meaningfulmoney.tv/BM2

In this new season covering some big mistakes that any of us can make with our finances, we start with the mistake of listening to the wrong people. But how can we determine who the wrong people might be? Show Notes: https://meaningfulmoney.tv/BM1

Today I am joined by repeat guest and financial planning legend, Chris Budd. He has a new book called the Four Cornerstones of Financial Wellbeing and it's a very helpful read for anyone struggling to keep money in its place, or with the effects that money can have on our mental health. Shownotes: https://meaningfulmoney.tv/session533

Today we're rounding off Season 27 by covering the last of our big ideas - and it's one of the raisons d'etre of Meaningful Money, that most people don't need advice. Shownotes: https://meaningfulmoney.tv/BI10

Today we're covering the ideal order of financial priorities, something Pete and Rog learned early on in their financial planning training. The order was summarised by the acronym PIPSIO Protection Income Protection Pensions Savings Investments Other PIPSIO is nothing more than a useful mnemonic, but it really does serve a purpose. I still remind the advisers at Jacksons of it now and again. Shownotes: https://meaningfulmoney.tv/BI9

Today we're covering a classic piece of financial advice - definitely a Big Idea of investing: Time IN the market, not timing the market! Shownotes: https://meaningfulmoney.tv/BI8

Planning is - or should be - the framework for all financial decisions, but it is misunderstood by many. Hopefully this episode will explain a little about what planning is, how it works and how to go about it. Shownotes: https://meaningfulmoney.tv/BI7

Today we're going to be talking about the importance of prioritising today in your finances. That might sound counterintuitive to some, but we'll put some nuance on it and try and give you some practical things you can do when faced with the dilemma of whether to use your money today or put it away for the future. Show notes: https://meaningfulmoney.tv/BI6

Today we're talking about Behaviour and why really, it's ALL about that when it comes to being financially successful. Show notes: https://meaningfulmoney.tv/BI5

We're continuing our Big Ideas season, talking about the overarching concepts that govern our understanding of money and how to use it. Today's subject is: Looking after Number 1. Shownotes: https://meaningfulmoney.tv/BI4

This week's Big Idea is Simplicity - it's so important to keep your finances as simple as possible for the reasons that we'll cover today! Shownotes: https://meaningfulmoney.tv/BI3

Today we're going to look at arguably the biggest of big ideas - the magic of compounding. Einstein said: "Compound interest is the eight wonder of the world. He who understands it, earns it; he who doesn't pays it" - We reckon that makes it an important subject! Shownotes: https://meaningfulmoney.tv/BI2