Tony Talks Wealth Podcast

Welcome to the 100th episode of Tony Talks Wealth! Listen to Tony talk to wealth experts from many of his recently published podcasts and share their wisdom on the question that Tony asks all his guests ; What does wealth mean to you? Sign Up Now For These Exclusive Podcasts and MORE Tony Talks Wealth Content at https://www.patreon.com/TTWealth   GUESTS Steve Conley Bev Jones Kristina Wise Fanny Snaith Angel Ribo Jim Meulhhausen Rick Heyland Joseph Wilkins Dr Clemen Chiangmai EA Csolkovits BEST MOMENTS‘The three kinds of wealth, financial wealth, health, and social wealth. Entrepreneurs are terrible about two of those three! They are! They work too much, they don't have work-life balance.'‘Work hard is the secret ingredient that surpasses everything from your I.Q. to your E.Q. to your family background if you are willing to work hard.' ‘It's balanced and successful in all areas of my life and focusing on the most important things, whether it be spiritual, my health and fitness, my relationships or my work and finances. Those are the four buckets that I generally think about.' ‘I am a multi-millionaire when it comes to my life. Really, I am. When it comes to the most amazing family, the most amazing friends. I'm so fortunate that I've got good health, and my family has got good health.VALUABLE RESOURCESTony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  ABOUT THE HOSTTony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  “Live For Today, Invest For Tomorrow”CONTACT METHODTony's official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Individual Savings Accounts (ISA) are a great way of saving and minimising the amount of tax you have to pay on your investment returns. Tony talks about the different kinds, how they work and how they can benefit you and your Investment Plan.KEY TAKEAWAYS Some ISA's give you instant access to your money and can be used to plan your finances in the short term. You can also invest in an ISA for the future. If you are a UK resident over the age of 18 you can open up one of each kind of ISA over the tax year. Cash ISAs do not invest in the stock market and the investment relies on interest rates. It can act as an emergency access fund for expenses. Stocks and Shares ISAs is a tax efficient investment that allows you to invest your money in shares, government bonds or property with the assurance that you won't pay any capital gains tax or income tax on the proceeds.  The Innovative Finance ISA. It allows you to lend money through peer to peer lending platforms to allow you to receive tax free interest and capital gains. BEST MOMENTS‘In the current tax year 2022/23 you can put £20,000 into your tax efficient ISA before the end of the financial year on the 5th April.'‘The main factors to consider when choosing between a cash ISA and a stocks and shares ISA are the length of time you'll be saving or investing.' ‘Peer to peer lending is a higher risk form of investing and your capital is completely at risk as there is no protection from the Financial Services Compensation Scheme.' VALUABLE RESOURCESTony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  ABOUT THE HOSTTony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  “Live For Today, Invest For Tomorrow”CONTACTTony's official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Risk tolerance is one of the biggest factors in your investment decision process. Tony talks about how to decide how much risk to take depending on your circumstances, goals and individual comfort level when it comes to risk.KEY TAKEAWAYS Consider how you would feel if your investments lost money in the short term. If this makes you anxious, you may be significantly risk averse. If you are comfortable with this circumstance, however, you may be able to take on more risk. Understanding if you are comfortable with volatility or stability and slower growth will help you decide which investments to make and over what time period. There is no such thing as a no risk investment but manage it by diversifying over the long term. BEST MOMENTS‘Your potential returns available from different kinds of investment and the risk involved change over time as a result of economic, political and regulatory developments.' ‘Volatility is a measure of how much prices fluctuate over time. Investments that are more volatile have bigger ups and downs in value, while less volatile investments will have slower steadier price increases.'‘An interest rate risk is a particular risk for bond holders. We all have our own individual risk tolerance, and it's important to establish what that is.'VALUABLE RESOURCESTony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  ABOUT THE HOSTTony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  “Live For Today, Invest For Tomorrow”CONTACTTony's official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Investing can be a very complicated and confusing process, especially for those who are new to it. There are so many options and strategies out there and it can be difficult to know where to start. Having a clear understanding of what you are hoping to achieve and your current finances is essential before you start to decide how you are to move forward toward your goal. Tony talks about how you can achieve this.   KEY TAKEAWAYS Cash Flow Modelling (CFM) is a powerful tool that can help you take control of your finances and move toward your investment objectives. With CFM you can clearly understand your financial situation, identify any areas where you may be overspending, discover opportunities to save, make more informed decisions about investments and set realistic goals. CFM provides a detailed picture of your investments, debts, income and expenditure. This system creates different scenarios based on future decisions you may make and illustrates the effect they will have on your finances. You will need periodic checks to ensure that your plan is on track and make any necessary alterations. BEST MOMENTS ‘By creating a model of your income and expenditure you can see exactly where your money is going and make informed decisions on how best to manage your resources.' ‘The process shows your current position relative to your preferred position and your goals by assessing your current and forecast wealth along with income inflows and expenditure outflow.' ‘A snapshot in time is taken of your finances with calculated rates of growth, income, tax and so on.'   VALUABLE RESOURCES   Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth   Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth     ABOUT THE HOST   Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, and Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT   Tony's official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedInSee omnystudio.com/listener for privacy information.

Goals based investing is a great way to make wise financial decisions when you are overwhelmed by the choice in investment options. Tony talks about how to navigate the myriad of investment products available today by clarifying what you are really aiming for in the future.KEY TAKEAWAYS A variety of financial goals such as retirement, home purchases or saving for a child's education can be specified specifically to make choices on investments. Focus on the long term. You are less likely to make impulsive, short term decisions. Have a disciplined approach to investing to avoid spoiling your progress with spending sprees and costs. When you have a concrete set goal you have increased motivation. Set yourself realistic goals.  BEST MOMENTS‘Goals should be clear, concise, detailed and written down because, remember, unwritten goals are just wishes.'‘In order to achieve all of your goals you will need a plan. Starting from assets you already have available, you will need to determine how much more you will need to accumulate and when you will require it.'‘Decide what you want to achieve. This may seem obvious but it is important to take the time to really think about your goals.' ‘Give yourself realistic deadlines.' VALUABLE RESOURCESTony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  ABOUT THE HOSTTony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  “Live For Today, Invest For Tomorrow”CONTACTTony's official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Tony talks about how to make the most of your pension pot so you can get back to dreaming about your retirement and not dreading it. Many people are feeling financial pressure at the moment, and it can be difficult to consider the future, but even with current conditions there are ways you can maximise your pension opportunities.    KEY TAKEAWAYS When offered the opportunity to join a workplace pension it is always a good idea to do so due to the contributions they make.  You also get extra money from the government in your tax payments on any contributions you make.  The state pension will not cover everything.  Keep on track of all your pension plans. It is important to have a retirement lifestyle in mind so you have an idea of how much money you will require.          BEST MOMENTS ‘Your employer's contribution on top of that which at the very least must be equivalent to three percent of your earnings.'  ‘Each time you defer paying into a pension plan you miss out on the extra boost of tax relief from the government.'  ‘It's important to remember that the state pension won't be available until your late sixties.'    VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth   Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth     ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT Tony's official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

The key to a robust retirement is having a good idea of the plans that you have for when you reach your chosen age. To keep up your lifestyle in your golden years you need to be sure of your pension and financial situation. Tony talks about what you need to know when working on your future.   KEY TAKEAWAYS Retain a professional Financial Advisor to achieve the retirement that you want. Currently only half of those with assets over £100,000 to £500,000 excluding property are planning to take professional financial advice.         BEST MOMENTS ‘With so much going on in your life, from family and work, to pursuing your passion, retirement planning may not have been your priority, but now you want to make sure your pension and overall financial situation will allow you to keep up your current lifestyle and enjoy your golden years.' ‘Only 39% of pension holders are planning on taking financial advice when they retire, with 31% planning a do-it-yourself retirement.' ‘These are just a few of the questions your professional Financial Advisor will be able to help you with.' VALUABLE RESOURCES   Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth   Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth     ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT Tony's official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Tony talks about the erosion that occurs in your savings with the current inflation rates and how you can benefit from tax relief in the coming year.   KEY TAKEAWAYS Tax efficiency is a key consideration when investing because it can make such an enormous difference to your wealth and quality of life. One way to avoid tax is to contribute to an individual savings account (ISA) and take advantage of up to £20,000 tax free with a stocks and shares ISA. A cash ISA allows you to earn interest on your savings without having to pay any tax on interest earned. Junior ISA are for those under 18 without a trust fund account. Up to £9000 can be put in a Junior ISA and can be used for a wide range of purposes such as education or training costs.         BEST MOMENTS ‘The type of investment and tax efficiency that you should be looking at will depend firstly on whether your priority is to save a lump sum for the future or to draw an income today.'  ‘Not only will your investment grow tax efficiently, you'll also benefit from the potential for capital gains. ‘Another option is a Lifetime ISA or LISA. If you are looking to save for retirement or to buy your first home you may also want to consider opening a LISA. With a LISA you can save up to £4000 in the current tax year. The government will add out to 25% to any savings held in a LISA up to a maximum of £1000 a year.'  ‘If you earn over £100,000 making personal pension contributions can be highly advantageous.'   VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth   Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth     ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT Tony's official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

In this episode Tony talks about the difference between individuals' personal plans towards retirement and some of the extra challenges previous generations of savers never had to worry about.   KEY TAKEAWAYS Life expectancy is longer than ever before which means you need your money to last much longer.  More companies are moving away from Defined Benefit Pensions which guarantee you a certain amount of money in your retirement. Defined Contribution Plans are much more subject to the ups and downs of the market. A mixture of various investments further individualises many peoples approach to retirement planning. Six tips to consider using if you have a Money purchase Pension or Defined Contribution Pension are ; use pay rises as an excuse to pay more. Pay in more when a regular spend ends. Maximise any possible employer contributions. Invest any lump sums you receive. Put off breaking into your pension pot. Be cautious about your investment choices.         BEST MOMENTS ‘One question I get asked every single day is how much money will I actually need when I eventually retire?'  ‘Some people are unprepared for retirement due to high debt levels at the end of their working lives, or because they were not saving enough during their lifetime.' ‘Being aware of the options available to you can help you prepare for your future in an effective way.'   VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth   Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth     ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT Tony's official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Tony talks about the requirements of withdrawing your pension and the five things you need to carefully consider before doing so. Currently you can access your pension from the age of 55, changing soon to 57 unless you have a protected pension age, so if you are approaching these birthdays it's worth checking out Tony's advice.   KEY TAKEAWAYS Pension Freedoms. Consider your pensions accessibility arrangements. Savings Requirements. How much will you need each month to maintain your lifestyle? Future costs. You need to consider care needs and inheritance planning. Health and Life Expectancy of both you and your partner.  Obtain professional advice to make sense of the complications of the financial decisions of retirement.          BEST MOMENTS ‘There's a lot to think about when you withdraw money from your pensions because it's a huge decision as it has major implications on how long that money lasts for throughout your retirement.' ‘We often vastly underestimated this but evidence shows that we are mostly living longer.' ‘How long will I need my money to last? How long do I want to keep working? How much tax might I pay?'     VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth   Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth     ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT Tony's official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

With many people living longer expectations of retirement are being reshaped and there is no longer a one size fits all approach to retirement planning. Tony talks about the many choices and options available to you in your retirement bearing these changes in mind.    KEY TAKEAWAYS It's important to consider loved ones over the course of one's retirement.  Find out if your pension will cover your finances throughout your retirement or if you should be investing your savings.  Do not leave your retirement planning too late.  Find out how much you need to save for your retirement, how do you save on tax efficiently and how do pensions work.   BEST MOMENTS ‘To different people, retirement means different things. Retirement offers the gift of time to do the things that matter most.' ‘At this point do you feel confident about retirement? Pensions can seem complex and overwhelming for many.' ‘What happens when we've left the nine to five behind? Whatever retirement looks like to you it's important to make the right plans now.' VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth   Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth     ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT Tony's official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Many savers believe that inflation will have no impact on their savings or even leave them better off. In this episode Tony spells out the real effect that inflation can have on your savings and what to do about it.   KEY TAKEAWAYS The total cost of saver inaction, if inflation continues over the next five years, could amount to 18 billion pounds. Work out how much of your savings you need to put aside for easy access emergency funds.  Get the best interest rate you can on your savings. Remember, though, that those rates offered can drop dramatically over time, so always keep an eye and be prepared to switch when necessary. Think about investing your money or topping up your pension to beat inflation.         BEST MOMENTS ‘More than half of all cash savers don't understand what impact inflation will have on the real value of their cash savings over time.'  ‘As a rule of thumb, aim to cover your essential expenses for between three to six months.' ‘The key thing to remember is that investing is for the long term.'   VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth   Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth     ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT Tony's official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Investing is one of the most important things you can do to secure your financial future. Tony shares the10 principles that should be applied when choosing and managing your investments.      KEY TAKEAWAYS Set investment goals. Plan on living a long time and saving more for it. Cash is rarely king, inflation can erode your purchasing power. Start early and reinvest investment income. Be realistic about your objectives and what you can achieve when it comes to choosing risk. Market volatility is normal. Timing the market is difficult. Stay long term. Diversify your investments.  Review your portfolio regularly. If it seems too good to be true, it usually will be.         BEST MOMENTS ‘You have the peace of mind in knowing that you have everything you need to do to invest with confidence.'  ‘The higher the potential return the higher the risk involved.' ‘Promises of high returns with little or no risk are always too good to be true.'   VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth   Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth     ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT Tony's official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

So when is the right time to retire? There's no one size fits all answer to this question, because it very much depends on your personal circumstances. However, there are a few things to consider that may help you to decide when the time is right for you. Tony details what information and circumstances you should be looking out for to know the right time has arrived.   KEY TAKEAWAYS Do you have enough saved up to provide for yourself in retirement? If not, you may need to work longer to ensure a comfortable retirement. Good health means you will be able to enjoy a longer retirement, however poor health will mean retiring sooner in order to enjoy your retirement while you are still in good health. Inflation is an important factor to consider for retirement. Rising prices can quickly begin to eat into your savings.  Consider when you want to retire and what kind of lifestyle you want after retirement. One way to find out if you have sufficient finance to create a suitable lifestyle after retirement is to create a retirement cash flow. This shows how much income you can expect to receive from various sources.   BEST MOMENTS ‘Do you enjoy your job or work? If not, you may be ready to retire sooner. On the other hand, if you love your job or what you do, you may want to keep working even after you reach retirement age.' ‘Inflation can also cause your living expenses to go up and this can lead to a reduction in your standard of living. Clearly high inflation can make it harder to save for your retirement.' ‘What is your attitude to investment risk because when it comes to investing there is always some element of risk involved. It's important to understand your own attitude towards risk before making any investment decisions.'    VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth   Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth   The TT Wealth July & August Newsletter Bundle This podcast was brought to you by Progressive Media, for more information on how to start, grow and monetise your podcast head over to the training at https://bit.ly/poa3073 ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT Tony's official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/ Book a Call: https://calendly.com/ttwealth/30min?month=2022-07See omnystudio.com/listener for privacy information.

When investing, market volatility can often cause rash decisions that can often be unnecessary and harm your long term outlook while trying to achieve short term peace of mind. This is why it's important to take a 10 year or more view to enable cool-headed rational responses to sharp financial movement in either direction.   KEY TAKEAWAYS Trying to second guess events and make bets on them rarely pays off and deters many from investing.  A safe option for risk averse investors to undertake is to save regular amounts which enables the avoidance of trying to second guess market movements. This is Pound Cost Averaging. Rather than a single, risky lump sum investment you drip feed investments over a longer period effectively reducing the risk of loss by minimising the size of the investment at any one time. Any negative event will not influence large amounts of your money.         BEST MOMENTS ‘Do you invest it all at once or bit by bit and will soaring inflation, rising interest rates and further supply chain disruptions or fuel market volatility impact on your lump sum investments?' ‘Past performance is not a guide to what might happen in the future and the value of your investments may go down as well as up.' ‘As an individual investor it is likely that you will find it almost impossible to make money through market timing. Even professionals struggle to do this.'    VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth   Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth   The TT Wealth July & August Newsletter Bundle This podcast was brought to you by Progressive Media, for more information on how to start, grow and monetise your podcast head over to the training at https://bit.ly/poa3073 ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow” CONTACT Tony's official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/ Book a Call: https://calendly.com/ttwealth/30min?month=2022-07See omnystudio.com/listener for privacy information.

Tony explains the six key principles to ensuring your financial prosperity for a secure future. Understanding your targets, preferred investment types and tolerated risk level is essential before you embark on a well rounded investment plan, but what should you keep in mind as you move forward towards your goals?   KEY TAKEAWAYS   Have a strategy and stick to it. Think twice before putting all of your money in cash. Diversify and consider your investments as a whole. Invest as early as you can. Resist activity bias, the urge to do something in a crisis. There is no substitute for a strategy that is tailored specifically for you.        BEST MOMENTS   ‘If you are new to investing, knowing where to start can be a daunting task. The reality is that people should start saving and investing as early as possible.' ‘Investors and retirees looking for reassurance during challenging stock market times can take heart in these time tested investment principles.' ‘Every single investors needs are different. A professional financial advisor can help you take the emotion out of investing and provide an objective view.'   VALUABLE RESOURCES   Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth   Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth     ABOUT THE HOST   Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT   Tony's official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

We know that rising inflation and increases in taxes are set to leave millions worse off in 2022 and beyond. Households are already grappling with the worst cost of living crisis in a generation. Budgets have been further squeezed by a raft of price and tax rises, and inflation is the highest it has been for 30 years. Tony offers ten tips to help you manage through this difficult period.   KEY TAKEAWAYS   Save money on your energy bills. If you are finding budgeting for energy bills difficult consult your energy provider or a debt advice charity. Check out how to cut your energy use. Try using a petrol price checker site to ensure you always buy your fuel from the cheapest source. Change your driving style to avoid hard acceleration and high speeds to reduce your consumption. Plan your meals for a week and stick to it to avoid unnecessary impulse purchases. Check if you would save money if switching to a water meter. You can pay a lower Council Tax if you live alone and if you are in receipt of certain benefits or on a low income you can gain a reduction of up to 100%. Review your bank statements and credit card bills to ensure you are aware of all your outgoings and cut out unnecessary spending. Draw up a monthly budget. If you are paying high interest rates on your cards or loans then consolidate.        BEST MOMENTS   ‘The government website which is simply “Energy Advice” has tips on how to keep your energy bills down so that's worth checking out.' ‘You can use The Consumer Council For Waters calculator and if you are on certain benefits and have a large family or someone with a particular medical condition you may qualify for the Water Sure Scheme, which caps water bills.' ‘Check if your are entitled to state benefits. Billions of pounds of state benefits go unclaimed each year and you could be missing out. The national charity “Turn 2 Us” has a free and confidential benefits calculator on its website.'   VALUABLE RESOURCES   Government Energy Saving Advice https://www.simpleenergyadvice.org.uk/   Fuel Price Checker https://www.petrolprices.com/   Water Sure Scheme https://www.citizensadvice.org.uk/consumer/water/water-supply/problems-with-paying-your-water-bill/watersure-scheme-help-with-paying-water-bills/   Turn 2 Us Benefits Calculator https://benefits-calculator.turn2us.org.uk/   Money Helper Budget Planner https://www.moneyhelper.org.uk/en/everyday-money/budgeting/budget-planner   Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth   Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth     ABOUT THE HOST   Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT   Tony's official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

For very many couples divorce is a sad outcome, emotionally and financially. However, there are many things you can do to make the process easier should this unfortunate situation occur. KEY TAKEAWAYS Since April 2022 a ‘no fault’ divorce came into effect in England and Wales. This finally removes a need for blame as a basis for divorce. The respondent to a divorce is also no longer able to contest it. Seek legal and separate financial advice immediately. A Financial Consultant can consolidate all your finances so any legal decisions on advice can be taken with accurate information. Cancel any financial commitments in joint names immediately including credit cards, joint accounts, loans and even overdrafts. In England, Wales and Northern Ireland the total value of the pensions you have each built up is taken into account excluding the basic state pension. In Scotland only the pensions you have accrued during your marriage or civil partnership are applied. BEST MOMENTS ‘Keeping a level head to negotiate a fair financial settlement is absolutely vital.’ ‘You will need to draw up a list of assets that are first and second homes, pension pots, investments, value of any businesses etc, etc.’ ‘Normally anything built up before you were married or after your date of separation does not count.’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

There are many factors that can influence when someone decides to retire, which Tony will explore in more detail in this episode. For some, it might be based on health reasons, while others may want to take advantage of government benefits or simply enjoy a more relaxed lifestyle. However one of the most common factors that determines when people choose to retire is definitely their age. So with that in mind, what is the most popular age to retire early? KEY TAKEAWAYS The most popular age currently to choose to retire is 60. More than half of early retirees report a boost to their mental wellbeing, however nearly half report a drop in their financial situation. Financial factors such as a career based company pension, paying off a mortgage or substantial savings convince someone to embrace early retirement. BEST MOMENTS ‘Another key factor is wanting to enjoy more freedom and 1 in 4 of us are planning to celebrate our 60th birthdays by leaving work behind.’ ‘Women are the most likely to have felt a negative financial impact from retiring early.’ ‘Money worries are one of the biggest factors resulting in people returning to work.’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth Wills, Lasting Powers of Attorney, Trust and Estate Planning Specialists - Kinherit ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

In the last in his series on estate planning Tony explains the use of Lifetime Transfers to decrease the eventual tax liability left to your inheritors by giving away funds before your passing. However, there are still liabilities payable depending on when you pass. KEY TAKEAWAYS Inheritance tax exemptions can be achieved by means of making certain exempt transfers which apply in a number of cases, including wedding gifts, life insurance premiums, gifts to your family and charitable giving. If appropriate, you can transfer some of your assets while you're alive. Gifts to a spouse, for example, are fully exempt so are not subject to inheritance tax. Where a potentially exempt transfer fails to satisfy the conditions to remain exempt, because the person who made the gift died within seven years, it’s value will form part of their estate. For survival for between three and seven years, taper relief at the following rates are available ; in the first three years, there is no reduction, and between three and four years, there's a 20% reduction. Within four to five years it's 40% and five to six years its 60%. Between six and seven years is 80%. BEST MOMENTS ‘Potentially exempt transfers are lifetime gifts made to a individuals which includes gifts to bare trusts.’ ‘The inheritance tax due on the potentially exempt transfers is deducted from the total inheritance tax bill and the estate is liable for the balance.’ ‘The inheritance tax difference can be calculated and covered by a level or decreasing policy written in an appropriate trust.’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth Wills, Lasting Powers of Attorney, Trust and Estate Planning Specialists - Kinherit ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

In this episode Tony continues further on his estate planning series with an explanation of the lasting power of attorney (LPA). These agreements allow individuals to make decisions that can effect them in the unfortunate event that they are incapacitated from making those decisions themselves. KEY TAKEAWAYS An individual can create an LPA covering all their affairs or just their health and welfare. At the point the appointed attorney believes their donor is losing their mental capacity they must apply to The Office of Public Guardian to register the LPA to attain continuing authority. A code of practice applies to holders of LPAs including the requirement to keep the grantee's funds separate from their own or anyone else’s. There are strict limits on the gifts that attorneys can make on the donors behalf. BEST MOMENTS ‘It's possible to appoint the same or different attorneys in respect of each lasting power of attorney and both versions contain safeguards against possible misuse.’ ‘Applications for a lasting power of attorney must be accompanied by a certificate confirming the granter understands what they are doing completed by a solicitor or medical practitioner.’ ‘Instructions relate to things the attorney should or shouldn’t do when making decisions. For example, not selling the donor's home unless a doctor states the donor can no longer live independently or a particular dietary requirement could be examples.’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth Wills, Lasting Powers of Attorney, Trust and Estate Planning Specialists - Kinherit ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Tony continues his series on estate planning with the consideration of making a will. Talking about your death with relatives and professionals is a difficult conversation to have, but it is vital if your wishes are to be respected and enacted upon your passing. KEY TAKEAWAYS Unmarried couples have no right to any of the estate if there is no will. A will is essential to mitigate a potential inheritance tax liability. Where a person dies without a will the distribution of the assets is subject to statutory rules called intestacy. A consequence of intestacy is the estate may have to include benefits to children as well as a spouse or civil partner. Separated spouses still not yet divorced continue to have rights to the deceased estate. If the deceased has no surviving relatives the property goes to the crown. Relatives will usually be expected to be executors and may be unsuited to the role. Jointly owned properties and possessions can be a way of protecting your spouse, allowing them to have access to joint bank accounts, for instance, before the estate is settled. BEST MOMENTS ‘The beneficiaries of the deceased person that they may want to benefit from the estate may be disinherited.’ ‘An unmarried partner doesn’t automatically inherit anything and may need to go to court to claim for a share of the deceased assets.’ ‘There may also be liabilities that may need to be included and taken into account and may include mortgages, could be credit card balances, could be bank overdrafts, could be loans or indeed equity release.’ ‘There is also something called a partial intestacy. This can sometimes happen even when there is a will in place, for example, when a will is not valid or when it is valid but the beneficiaries die before the testator.’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth Wills, Lasting Powers of Attorney, Trust and Estate Planning Specialists - Kinherit ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Tony continues with his series on inheritance and safeguarding your estate for your family with this episode on why wills and power of attorney agreements can be vital. KEY TAKEAWAYS If you don’t create a will in readiness for your passing your estate could be inherited by someone you had not envisioned taking over your wealth and assets. The Health and Welfare Lasting Power of Attorney allows you to appoint an attorney to make decisions about matters such as your medical care, where you live, your daily routine such as what you eat and what you wear, whom you have contact with and whether you have life sustaining treatment only if you have given express permission. The Property and Financial Affairs Lasting Power of Attorney gives your attorney the power to do things such as buy and sell your property, pay your bills, collect your pension or benefits, and manage your bank accounts. Only 13% of adults have written a living will which is used to provide advanced decisions on refusing medical treatments if you become terminally ill or lose the ability to make decisions for yourself. BEST MOMENTS ‘Worryingly 3 in 5 UK adults have not written a will and that’s research carried out by Canada Life.’ ‘What we need to remember is that a will can provide peace of mind that not only will the correct beneficiaries benefit from an estate distribution, but also that it is done as efficiently as possible at such a difficult time.’ ‘A will can help reduce the amount of Inheritance Tax that might be payable on the value of a property and monies that you leave behind.’ VALUABLE RESOURCES Wills, Lasting Powers of Attorney, Trust and Estate Planning Specialists - Kinherit Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

More and more families are becoming subject to Inheritance Tax currently and it has become increasingly important to make plans for this eventuality in balance with your other financial priorities. Tony talks how you can reduce your families Inheritance Tax liability and how the current rules affect you. KEY TAKEAWAYS Inheritance Tax was introduced in 1986 replacing the old Capital Transfer Tax which itself replaced Estate Duty. The Government has frozen the 325k lifetime exemption allowance, which has resulted in inflation eroding this total over time. Money left to spouse or to a registered civil partner will be exempt from Inheritance Tax. Inheritance Tax is payable at 40% on the amount exceeding the exemption allowance threshold. BEST MOMENTS ‘Effective estate preservation planning could save a family a potential inheritance tax bill amounting to hundreds of thousands of pounds.’ ‘Unmarried partners, no matter how longstanding, have no automatic rights under the Inheritance Tax rule.’ ‘In some circumstances Inheritance Tax can also become payable on the lifetime gifts themselves, although gifts made between 3 and 7 years before death could possibly qualify for rate relief which reduces the amount of Inheritance Tax payable.’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth Wills, Lasting Powers of Attorney, Trust and Estate Planning Specialists - Kinherit ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Continuing with the topic of estate planning, Tony discusses the importance of Intergenerational Wealth Transfer Plans in the current climate of rising net worth and mortality rates. The earlier you put your plan in place the less you will have to give to the tax man in Inheritance Tax. KEY TAKEAWAYS By 2027 it is predicted that wealth transfers will nearly double from £69 billion to £115 billion. Unplanned Inheritance arrangements can cause conflicts that can create rifts within the family. Children may have been expecting to receive a certain amount of money from their parents. Ensure the younger generations are prepared to handle the complications of wealth including the financial management. By making advanced preparations the burden of filing any Inheritance Tax returns can be reduced. BEST MOMENTS ‘For those approaching or already in retirement it’s important to have frank and open conversations with children about expectations.’ ‘Everyone works hard to provide for their family and perhaps even leave them with a legacy. However parents approaching retirement shouldn’t feel that their family is solely reliant on them or that they need to be responsible for their children’s financial situation.’ ‘This type of planning can be extremely complicated and for some people, they may be able to do this for themselves. But for the vast majority, they will need expert advice.’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth Wills, Lasting Powers of Attorney, Trust and Estate Planning Specialists - Kinherit ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

To keep wealth within your own family, Tony explains how to make suitable plans for how much you can safeguard for the people that you care about on your departure. Inheritance tax can cost families thousands of pounds but there are ways to legally avoid paying this tax. KEY TAKEAWAYS Without making suitable plans your loved ones could face the prospect of paying 40% tax on the value of everything you leave for them above a certain threshold. Estate planning gives you control over what happens to your assets when you pass away. It also ensures that the assets are transferred in an orderly and uncomplicated fashion at a time when complicated financial issues are most unwelcome. Write a will. A will puts you in control of what happens to your assets as well as appointing who is in control of those assets and their distribution after your death. Make a Lasting Power of Attorney. Consider preparing these documents to be ready to put in place should you become incapacitated from managing your own affairs. Plan for Inheritance Tax. Gift assets while you are still alive which you can do up to the value of £325,000. Gift allowances are up to the value of £3000 which cannot be taxed unless you survive 7 years beyond the date of transfer. Wedding gifts are allowable up to £1000 per person, or £2500 for a grandchild and £5000 for a child Consider investment in inheritance tax exempt assets. The Enterprise Investment Scheme gains tax relief via business relief subject to a 2 years holding period. Life insurances kept in trust can avoid inheritance tax by being paid directly to your inheritors rather than your estate with no need for probate. BEST MOMENTS ‘If you pass away and don’t have provisions in place to preserve and protect your assets then your family may end up spending a substantial amount of time and money battling over your wealth.’ ‘The process involves developing a clear plan that details how you would like all of your wealth and property to be distributed after your death.’ ‘In essence you are appointing somebody that you trust who will look after your affairs in your best interests.’ ‘Another option to consider is keeping your wealth within your pensions. A defined contribution pension is normally free of inheritance tax unlike many other investments.’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth Wills, Lasting Powers of Attorney, Trust and Estate Planning Specialists - Kinherit ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

When creating your investment portfolio you should always pay close attention to spreading your savings to achieve diversity and spread your risk. In this episode Tony talks about why and how you should make this happen. KEY TAKEAWAYS A diversified portfolio manages your exposure to market volatility. Managers manage the mix of investments at different levels, from high risk profiles to low, depending on market conditions. Asset allocation means deciding how to spread your money across different asset classes including equities, bonds, property and cash among many others. Bonds are essentially I.O.U.s issued by governments in return for an investment subject to a pre-agreed regular return for a fixed term. Higher risk bond issuers will have to offer higher returns to attract buyers, lower risk offers peace of mind to those with a more risk averse mindset. When investing in shares, understanding the cause and effect of fluctuations is important. Higher profits will result in higher share prices and increased dividends, whereas sustained losses can place the business or dividend in jeopardy. BEST MOMENTS ‘When trying to navigate the ups and downs of the market returns, investors seem to naturally want to jump in at the low and cash out at the highs.’ ‘Geographical factors such as local economic growth, interest rates and the political background will also affect the weighting between markets within equities and bonds.’ ‘As long as the issuer is still solvent at the time the bond matures, the investor will get back the initial investment of the bond.’ ‘Companies perform best in an environment of healthy economic growth, modest inflation and low interest rates. A poor outlook for growth could suggest waning demand for the company's products or services.’ VALUABLE RESOURCES Pension calculator - Pension Calculator | TT Wealth | Pension Specialist, Cardiff Savings calculator - Free Savings Calculator | TT Wealth Cardiff Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Tony talks about how much we need to plan for our upcoming retirements. The state pension will fall short in providing a comfortable lifestyle into retirement so what action should we take to bolster our funds now. KEY TAKEAWAYS Review your finances sooner rather than later to assure your future income. Track down your pensions to be sure you are claiming everything you are entitled to in retirement. Find out when you can draw from those pensions. How much is your pension worth? Your pension provider should give you a yearly assessment. Get a state pension forecast. Get investment advice. You may need to alter your plans close to retirement. Check your investment values. How will you access your pension? Will you take an income, cash in, or reinvest? BEST MOMENTS ‘After a decade of working and saving you can finally see retirement on the horizon. If you plan to retire in the next five years or so, then consider taking these steps today to help ensure you have what you need to enjoy a comfortable retirement.’ ‘If you’re unsure where to start, the UK Government offers a pension tracking service to help you find lost pensions.’ ‘Pension advice is important because pension products can be very complicated.’ VALUABLE RESOURCES Pension calculator - Pension Calculator | TT Wealth | Pension Specialist, Cardiff Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Tony covers the questions you need to ask and the products and services you need to be aware of to provide the finances you need to live your best life in retirement. This requires a lot of information about you, your family and what your needs are likely to be when you retire, along with the sort of lifestyle you envision for yourself when the time arrives. KEY TAKEAWAYS What will your life look like after retirement? Are you planning to scale back on your spending or will you need more to provide for the freedom and experiences you hope to enjoy? How much am I currently saving towards retirement? How would my daily life change on a smaller income? How long does my money need to last in retirement? You will need to take into account your retirement age and life expectancy. BEST MOMENTS ‘It's hard to know exactly how much you need in later life, because everyone has different circumstances and different expectations.’ ‘Saving early means your money is invested for longer and has more time to grow and any returns your savings make are also reinvested and have a chance to grow as well.’ ‘Your expenses will likely decrease as you retire. If it's only necessary to pay for the essentials such as housing, food and utilities you may be able to spend more or spend time on things that make you happy.’ VALUABLE RESOURCES Pension calculator - Pension Calculator | TT Wealth | Pension Specialist, Cardiff Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

To be successful in investing, a strategy that reflects your risk tolerance and time horizons is key. Trying to second guess how events will impact the market is rarely successful. Instead investors should focus on long term strategies that transcend the vagaries of short term fluctuations. Tony talks about where your head should be when everyone else is losing theirs. KEY TAKEAWAYS Long term means at least 5 to 10 years. Owning a diverse range of investments including shares, bonds or property can help protect money by spreading risk. Be aware of the psychological effects events can have on you as an investor. Media hype can often be alarming but resist panicking. Ups and downs are part and parcel of investing. They are regular. Accept them as normality. If you have any doubts or worries, speak to an advisor. BEST MOMENTS ‘When one area of a portfolio underperforms, another should provide important protection.’ ‘When you turn on the radio or television, or log on to twitter or facebook, or any form of social media you might assume that volatility is a terrible thing that requires all investors to react and make changes to their portfolio immediately. This simply isn’t the case.’ ‘Major events causing markets to fall in particular in the short term is something we’ve seen time and time again and no doubt we will see many more in the future.’ VALUABLE RESOURCES Pension calculator - Pension Calculator | TT Wealth | Pension Specialist, Cardiff Savings calculator - Free Savings Calculator | TT Wealth Cardiff Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Tony tackles this subject along with the five principles of investing everyone should know. Due to the complexity of the options it can be very confusing which route to take. Financial Advisors like Tony can help you navigate these options and guide you towards a solid investment plan based on your requirements, personality and goals. The following five principles will help you get on top of some of the key issues that affect everyone when they invest their money. KEY TAKEAWAYS Set investment goals. Be clear about your required outcome and aim for measurable and attainable targets within a reasonable timeframe. Invest as soon as possible. The benefits of an early start are numerous. Remember, time is money. It allows you to take more calculated or lower risks rather than fast, high risk strategies. Invest regular amounts. In this way you benefit from highs and lows in the markets. Diversify your portfolio. With a wide range of investments you spread your risk. Resist panic selling. Cope with short term volatility and sit tight. To sell may damage your long term gains. BEST MOMENTS ‘Keeping your plan on track means evaluating the progress on a regular ongoing basis.’ ‘If you invest early and make a loss you have more time to make up for that loss on your investments.’ ‘This simple example might be splitting 10,000 pound between shares in FTSE 100 companies and shares in small companies, government bonds or corporate bonds.’ ‘Keep calm where possible and carry on building up your investments. History has shown that over long enough time periods no matter what the challenges, markets recover from significant downturns.’ VALUABLE RESOURCES Pension calculator - Pension Calculator | TT Wealth | Pension Specialist, Cardiff Savings calculator - Free Savings Calculator | TT Wealth Cardiff Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Tony talks about how essential it is to take a regular overview of your finances and investments to identify if progress is continuing in line with your plan and your expectations. KEY TAKEAWAYS Having a financial review is a great way of taking a fresh look at your situation to see if circumstances have altered your money or, indeed, your own requirements and expectations. Examine your investments, assets, individual funds, shares, changes in risk and altered investment goals in detail. Consider your overall financial situation, your desired length of investment, your investment plan, investment diversity and available tax allowances. BEST MOMENTS ‘It will enable you to talk through your long term financial objectives and consider a way forward to deliver your plan on how to achieve them.’ ‘With short term goals most investments need at least a five year commitment but there are other options if you don’t want to invest for this long.’ ‘Some types of tax efficient accounts mean you can keep more of your returns you make and less goes to the taxman.’ VALUABLE RESOURCES Pension calculator - Pension Calculator | TT Wealth | Pension Specialist, Cardiff Savings calculator - Free Savings Calculator | TT Wealth Cardiff Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

We know that no two people have identical financial circumstances, which is why it’s essential you have a tailored financial planning solution in place and take real action on it. During times of market volatility it's important to resist backing out of the markets altogether, it is rarely the right thing to do. Tony details how a comprehensive financial plan can provide you with a focused design based on you and the life you want to live. KEY TAKEAWAYS Goal based financial planning enables investors to act in a systematic and disciplined manner to achieve their set of goals. It allows them to act with focus in volatile markets. A broad knowledge of everything ranging from complex retirement investment products to risk management and tax laws is very difficult to acquire. A financial roadmap provided by an expert Financial Advisor should provide clarity in adverse conditions in the future. Setting financial goals is essential to your success. It helps you stay confident you are heading in the right direction. BEST MOMENTS ‘Building wealth takes time and effort. Like any activity, be it growing a business or learning a new skill, you need to decide early on what your long term objectives are.’ ‘Procrastination is something we all do battle with from time to time. However, when you set goals in life it helps you understand that procrastination is dangerous. It is a waste of time.’ ‘Can I sleep comfortably knowing I’ll have enough money for my future? Do I have the security of knowing where I’m heading financially? Am I going to be able to maintain my current lifestyle once I stop working? Do I feel empowered to financially deliver the life I want today and also tomorrow? Have I made sufficient financial plans to live the life I want and not run out of money? Do I have a complete understanding of my financial position? What is my number to make my current and future lifestyle a reality and also financially secure?’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Whether you have a particular investment goal in mind or you are simply growing a retirement fund, it is important to understand risk. The likelihood of losing some or all of your original investment should be fully understood, as well as your tolerance for the level of risk you are willing to undertake. Tony talks about planning your investments while fully comprehending the risks involved. KEY TAKEAWAYS Higher risk investments often have greater returns but there is more chance of you losing your money. By using investment funds, which pool your funds with other investors which are spread across a range of investments, you can reduce your risk. Investments in shares can circumvent the negative effect of inflation on your savings accounts but there is always the possibility that the value of those shares are low when you come to sell. Property and bonds can also fall in value. Currency risk is when you lose money due to fluctuating exchange rates in the currency markets. BEST MOMENTS ‘Risk 'means different things to different people. What you feel about it depends on your individual circumstances and even your personality.’ ‘There is no such thing as a no risk investment. You are always taking on some risk when you invest, but the amount varies between different types of investments.’ ‘What about liquidity risk? You are unable to access your money when you want to because liquidity can be a real risk if you hold assets such as property directly, and also in the bond market where the pool of people who want to buy and sell bonds can dry up.’ ‘Lastly there are interest rates. Changes in interest rates affect your returns on savings investments even with a fixed rate.’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth Risk Questionnaire: Assess your attitude to risk | Investments | Standard Life ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Tony addresses questions on the current inflation situation and what to do when inflation soars. Is now the time to look for long term alternatives to cash? KEY TAKEAWAYS Inflation over time can be detrimental to those keeping large sums in cash, attracting interest at a low or zero rate. Savers with large amounts of cash should not be lulled into a false sense of security even if interest rates rise. The high inflation will definitely write off any benefit that could be gained from this. Invest any money you have over and above your emergency fund. This offers real potential for inflation beating returns. BEST MOMENTS 'The damaging effect of high and rising inflation will likely more than wipe out any uplift that higher interest rates will give to the value of cash savings.’ ‘As the economy continues to recover from the pandemic we are experiencing a sharp rise in the cost of living and many people are struggling this year, and will continue to struggle throughout the rest of this year.’ ‘Now could be the time to look for long term alternatives to cash.’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

When investing in the stock market. Tony talks about how a long term view of the market, including holding a more diversified portfolio for a longer period of time, can create dividends even in the face of market volatility. Market corrections can be healthy and can result in even stronger returns in the future. KEY TAKEAWAYS It’s time invested in the market and not the timing of the market that dictates long term returns. If you drop out of investment during a crisis you can often miss out on opportunities offered at low prices. Media likes drama. Reporting will use phrasing that will make fluctuations sound alarming, so its important to not let the news affect your level head. BEST MOMENTS 'The relentless and continual rise in value over the very long term is typically punctured by falls, so it is important not to let global uncertainties affect your investment strategies.’ ‘This is one of the biggest costs of market timing, being out when the market unexpectedly surges upward.’ ‘Be aware of the psychological affect this type of volatility has on you as an investor and resist the urge to be reactive. Easier said than done, I know, but its all about discipline when it comes to investing.’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Planning of your investment goals is essential if you are going to stand a chance of achieving them. Gain an understanding of what you can afford now and what you hope to achieve in the future. Tony sets out what needs to be clear and precise for you to be able to reach the financial position you are aiming for. KEY TAKEAWAYS Consider factors such as your income, age and the future needs that you are addressing. When investing you are allocating your funds to an asset that you hope will grow over time so it is important to consider your investment strategy. The type of account you should consider depends on when you wish to access your money and the amount of risk you are willing to take. You might consider mixing your risk types and take into consideration being tax efficient. BEST MOMENTS 'The wealth you create can be used for a variety of objectives such as meeting shortfalls in income, saving up for retirement, or fulfilling certain specific obligations such as repayment of mortgages, loans, debt, school fees or university fees or payment of any assets that are important to you.’ ‘What will you actually get back?’ ‘Review. Review. Review. Make time to review your investments on a regular basis to check they are on track to meet your goals.’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Depending very much on your financial situation, the decision to consolidate or transfer your pension funds can appear complex. Currently it is possible for people to have many pension at a time and you may want to simplify into one manageable arrangement. Tony details the factors you should be aware of before you make your decision. KEY TAKEAWAYS What kind of pensions do you currently have? Your current may have benefits that you could lose if you transfer out of the scheme. You may want to consider moving to a scheme that has less risk and consolidating into one pension scheme make it more manageable for you as its important that you review your pension on a regular basis. Some arrangements offer you online access to your pension information. The UK Government insist you take professional financial advice from a regulated advisor before doing this and the benefits are worth more than 30,000 pounds. BEST MOMENTS 'By the time we have been working for a decade or two, its not uncommon for us to have accumulated many different pension schemes.’ ‘In addition, some people might benefit from moving their money to a new pension that offers funds with less risk which may not have been available to you before.’ ‘Consolidating pensions can remove the hassle and paperwork of managing lots of different plans as well as cutting charges and giving you access to a wider range of investments.’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Many do not consider securing the services of a financial adviser but as Tony discusses in this week's show, planning for the future is far easier with the help of a professional. KEY TAKEAWAYS The reason we want to work with a financial adviser is so that we have professional guidance, and the best advice possible when it comes to our future. Many people find that they hit roadblocks or challenges when planning for their financial future. However, with the help of an expert, these can be avoided. Experts are armed with far more knowledge when it comes to the financial marketplace, allowing you to make far more informed decisions. BEST MOMENTS 'A financial adviser is one of the best investments you will ever make' 'We can assist you in avoiding common traps' 'We can spot opportunities much easier for you' VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

As another tax year closes, it's important that we finalise our plans in order to make sure we reduce our tax bill where possible. In this episode, Tony talks you through the twelve ways in which you can make sure your affairs are in order. KEY TAKEAWAYS Reviewing your tax affairs at the beginning of the year will allow you the breathing space to make any allowable deductions available in order to minimise and mitigate your tax bill. Identify any tax planning opportunities. Personal circumstances differ, so it's always best to seek the help of an expert where possible. Transfer part of your personal allowance to your spouse. Married couples and civil partners are permitted to share ten percent of their personal allowances between them. BEST MOMENTS 'Protect your family, Protect your wealth. Protect your future' 'Live for today, invest for tomorrow' VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

It's the new year, and there's no better time to begin planning for your financial year ahead. With this in mind, Tony is here this week to share his eight step plan for creating your very own personal financial plan! KEY TAKEAWAYS When considering your financial wellbeing, it is crucial to have a clear sense of what you want from life, and use this to create a comprehensive financial plan. Creating a budget can seem daunting, but can act as a vital signpost for your financial year ahead. Building your emergency savings fund is vital. The best way to ensure that emergencies can be tackled is to start saving today! Aim for around three months' of living expenses. BEST MOMENTS 'This is a great time to look at your finances' 'A comprehensive financial plan helps you to achieve your goals' 'Emergency savings make a great way to cover unexpected costs' VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Tony discusses cashflows - why it's vital that you manage them effectively - and how they can help you to create a picture of your finances, now and in the future. KEY TAKEAWAYS Cashflow modelling is used to calculate how your income, expenditure, investments and savings may be distributed over time. The detailed picture of your assets should include your investments, liabilities, income and expenditure, which are projected forward year-by-year using calculated rates of growth, inflation, income and interest rates. BEST MOMENTS 'You need clarity over your financial and lifestyle goals' 'Cashflow modelling shows your current position relevant to your preferred position' VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

This week, Tony discusses the importance of visualising the future you wish to lead, so that you can live the life of your dreams and pass on your wealth successfully, leaving a legacy for those you love. KEY TAKEAWAYS Financial challenges can come in the form of unnecessary fears and worries about what might happen next. They can stop us from achieving happiness. Visualisation allows us the luxury of seeing the things we desire most. Financial wellbeing comes from reaching a sense of security and independence. Your retirement needs will depend greatly upon the lifestyle you plan to lead, as well as when this will take place. It is therefore crucial to accurately visualise what that picture looks like. BEST MOMENTS 'Many of those who who seek to change their lives and move forward, find that they encounter roadblocks' 'Financial wellbeing comes from achieving financial security and independence' 'It's important to prioritise each of your lifestyle and financial goals' VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

As the new year approaches, it might be time to start a whole new way of thinking when it comes to your investments. In this episode, Tony talks you through some of the resolutions you could consider in order to make sure that 2022 is as profitable for you as possible. KEY TAKEAWAYS You must not just set resolutions but stick to them! Make decisions now and adhere to the outcomes you're hoping to achieve. A personal lifestyle financial plan is now more important than ever. In difficult economic times, people need to understand how better to manage their money. It's always wise to consider what you are investing for - what is your ultimate goal? Planning takes time but the benefits are endless. BEST MOMENTS 'You need to figure out how to make your resolutions a reality' 'It's never too early to start a plan' 'A solid personal financial plan will keep your finances on track' VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

In this week's show, Tony explores the topic of phased retirement, a course of action being considered by many in the wake of the pandemic and its effects upon our financial futures, and talks about why it may be a viable option for you. KEY TAKEAWAYS Retirement often arrives in people's lives suddenly, and can create a sense of disorientation. After all, many have been working every week for decades. Many are now taking flexible retirement or continuing to work on a part time basis. Some are even considering not retiring at all and simply continuing their working lives. BEST MOMENTS 'When you picture yourself in your golden years, are you sitting on a beach?' 'Few people benefit from the sudden transition from working five days a week to not working at all' 'Pensions need to last for as a long as possible' VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

This week, Tony take the opportunity to bust a number of myths surrounding pensions - myths that may be holding you back from making informed decisions - so as to help you make more robust plans for the future ahead of you. KEY TAKEAWAYS The state pension is topped up by the additional state pension, which requires you to have at least 35 years on your national insurance records or contribution history. When it comes to employer pensions, your employer is usually required to pay a minimum of 3% of your salary into your pension, and you must also pay a minimum of 5% into the pension, too. A common myth is that annuities are outdated. However, annuities are still very much active, and can be a perfect solution for some based upon their current circumstances. BEST MOMENTS 'Pension legislation is extremely complex and it's not realistic to expect everyone to understand it completely' 'It's vitally important for you to put aside a portion of your earnings to create a pension pot' VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

In response to listener queries, Tony this week talks about early retirement - the impacts that the pandemic has had upon early retirement, and why early retirement might not be the dream scenario that many believe. KEY TAKEAWAYS An increasing number of people have been forced into early retirement due to the economic impact of the pandemic. Due to retiring early, pension pots have been accessed by a significant percentage of people looking to make ends meet. Create a budget for your retirement spending. Make sure to include any additional future costs you're aware of, putting away extra for costs as yet unseen. BEST MOMENTS 'Because of the pandemic, we are currently in a challenging economic period' 'Early retirement might sound like a dream come true, but it can be a ticking time bomb' 'You work hard for your money so you should be able to enjoy it' VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

In this episode, Tony discusses retirement options made possible by pension freedoms - how the process has changed, and the potential benefits of taking part or all of your pension pot in order to better secure your future. KEY TAKEAWAYS When you reach the age of 55, you can access your pension pot. You can take some, or all. Some will be tax-free, but the rest will be taxable. Some use parts of their savings to purchase annuities, which can then be used to cover certain essentials, such as mortgage payments, rent or household bills. These days, we are mainly living longer. You must ensure that no matter what route you take, that you and any partners are provided for. BEST MOMENTS 'Pension freedoms have given retirees a whole host of new options' 'Flexibility is the main attraction' 'Familiarise yourself with your pension freedoms' VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

This week, Tony talks about the lifetime allowance, and explains how you can gain more assurance about the savings you've been accruing throughout your life so far. KEY TAKEAWAYS If you've been saving into a pension throughout your life, you should be allowed to feel confident about the future you've been saving for. The government will maintain the current lifetime allowance until April 2026, removing the usual annual incremental rises. The lifetime allowance is a limit on the amount you can withdraw in pension benefits in your lifetime before you trigger an additional tax charge. BEST MOMENTS 'The best savers sometimes find themselves breaching their lifetime allowance' 'The answers are intended to help you avoid this tax charge' VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

While retirement may be a time of anxiety for many, as Tony explains in this week's episode, we should be upbeat, and look at the many positives, including tax reliefs and lifetime limits. KEY TAKEAWAYS Pensions enable you to grow your retirement savings largely free of tax, as well as providing tax relief on the contributions you make. All of your pensions, including workplace pensions, count towards your lifetime allowance with the exception of the state pension and overseas pensions. BEST MOMENTS 'Saving into a pension is one of the most tax efficient ways to plan for your retirement' 'Carry-forward is a way of increasing your pension allowance' VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

In his continuing look at the ways in which retirement plans are set to change, Tony discusses how best to ensure that your future is taken care of, and how to ensure that our financial future is assured. KEY TAKEAWAYS When looking to retire, the most important factor is to consider whether you have enough money to live comfortably. Retirements can often last for around 30 years. It's vital to look at he reserves we have along with any income, and ensure we're well taken care of. Always keep track of any pensions from jobs you have held in the past. You can track them by using your date of birth or national insurance number. BEST MOMENTS 'The run up to your retirement may seem overwhelming' 'It's important to consider that your retirement could last for 30 years or more' 'Think about reviewing your contributions!' VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth Sign Up Today For Access TT Wealth's Bi Monthly Money Guides & Tips at https://ttwealth.co.uk/latest-newsletter/ Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.