Podcasts about isas

In this Meaningful Money Q&A episode, Pete Matthew and Roger Weeks answer real listener questions on UK pensions, retirement planning, tax and ISAs. They cover pension contributions for a spouse, starting a career in financial planning, reducing workplace pension fees with a SIPP, navigating the 60% tax trap, retiring abroad with UK pensions, and upcoming ISA rule changes from April 2027. A practical episode for UK savers, investors and future retirees looking to make clearer, more confident financial decisions. Shownotes: https://meaningfulmoney.tv/QA55    01:26  Question 1 Thanks Roger and Pete for the wealth of information you share and all the time you put in to share on finance and pensions. I have listened to a lot of your podcasts on my treks to and from work and finally took the plunge to retire early at 52 to enjoy life and get away from the desk for 8-9 hours a day. I had a DB pension which allowed me to take early whilst my wife has various pensions from previous jobs but all have the rule to take from 57 onwards. So my question is to help 4-5 years down the line. Could I put £300 a month (or the equivalent of 300 minus government contribution) into my wife's pension to continue to take account of government contributions and take the opportunity of her being on below the £12k tax threshold after giving up work? Is this possible or would this be classed as pension recycling as the government would presume the cash invested is from the lump sum I got from my defined benefit pension or is there a way to prove the money is from pay before I retired? Many thanks for your advice and support giving many people greater confidence with pensions and finances. Wayne 04:10  Question 2 Hello Pete & Roger, Thanks for all the great content and information - you are both much better than any AI chatbots! Apologies for the long back story but here goes: My name is Michael, 33 and I live in central Scotland. I have worked in a tech startup for the last 6 years but felt like a change around 18 months ago so I began sitting my CII exams. To date I have passed RO1 - RO5 and also recently passed CF6. I am sitting RO6 in April this year - wish me luck! I have recently secured an opportunity to work self employed for a specialist mortgage firm and start in early May as a trainee mortgage advisor. I have been offered a set monthly payment for 6 months then a 70/30 split after that. I would hope to have achieved CAS within that 6 month period. If I pass RO6 in April, I will have my diploma. My goal is to work as a financial planner but since I've done self study, I don't have any real experience of the financial services industry. I am very ambitious but also trying to be realistic about how to sensibly map out a route to being a successful financial planner relatively quickly. To throw a spanner in the works, a family friend who is a 62 year old IFA with £30m aum is interested in discussing me joining him and eventually taking over the business. It sounds exciting but also a little scary to me. He is only a one man band. For now I've accepted the mortgage trainee position but not sure if I am doing the right thing. The owner of the mortgage company now lives in Dubai and is looking to also remove himself from his business - he has 8 admin staff who WFH from across Scotland and he is the main adviser, specialising in BTL, bridging and commercial finance. They are only authorised for mortgages by the FCA. After that dissertation, my questions are: 1. From your experience and perspective, are mortgages a decent place to start or can you end up getting stuck there? 2. Since I have no real industry experience, only exams - is my head in the clouds thinking I could be a full fledged financial planner within 2 years? 3. If I started with the mortgage firm and got CAS as a self employed mortgage advisor, could I then also be an appointed representative for a different financial planning firm at the same time or is that not actually feasible in the real world? Once again, sorry for the huge essay but I guess context is needed. Once again thanks for all that you do, not much good content out there around these topics so keep up the good work! Regards, Michael   12:36  Question 3 Hi Pete & Roger, Firstly a very big thank you for all that you do for this community. I am learning lots from you guys and feel more confident with my finances. I'm 46 years old and currently have two pensions. My first pension is in a defined benefit plan from my steelwork apprenticeship days whereby I only paid into it for approx 6 years before moving jobs. I was able to track this down late last year and was pleasantly surprised to see that this had gone from an annual amount of £2650 in July 2007 to £4400 as of October 2025. I have been told to leave this as it is as it will grow over time with inflation. My other pension is a defined contribution plan with Royal London (RL). I am a higher rate tax payer and currently pay 10% of my £58,000 annual salary into this fund and my employer pays 5%. I would like to finish at 58 given I had a serious neck injury at 41 and don't know how long my body is going to work for me)! This pot is currently worth £105,000 and I am deliberating whether to increase my contributions in order to achieve my retirement age goal. I also have a stocks and shares ISA which is currently worth £36,000. I pay £250 a month into this but don't know if it would be more tax efficient to put this £250 into my pension instead? However, I am also mindful that the pension age may increase so by having a pot of money invested in the stocks and shares ISA I can draw this down when I like and also not bear any tax implications. Having looked into the fees which RL charge (0.71% for our employers scheme) I believe I would be able to achieve my goal quicker were I to move this into a SIPP and invest in a global ETF. I have discussed this with my employer and have asked if they would consider offering an alternative SIPP option. I feel I am meeting some resistance with this and don't believe a decision will be made anytime soon. In the interim, my compounding is being eaten away by the fees which I am currently being charged and my goal is moving further away from me. I found a pension fee calculator online and at the current rate I am investing I stand to lose approx £50,000 if I keep this with RL. I am aware that I can partially transfer my RL pension. However, to keep the employer contribution I would need to keep the RL pension open with a minimum amount of funds and then transfer the employer contribution across to my SIPP.  What is the best way to go about this to make it the most fee/tax efficient?  Should I transfer the employer contribution as soon as it is paid to RL, or would it be no different to do it on an annual basis?  I am assuming the longer I have money in the SIPP the more growth it will obtain therefore the former would be the sensible default. Am I approaching this correctly? Is there something else which I could consider? Thank you kindly, Paul   20:30 Question 4 Hi Pete and Rog - great show and love the books (but not finished them yet). Thanks for demystifying the complex world of personal finance and financial planning. I'm in the fortunate position where my projected salary and bonus will increase again for tax year 2026/27 and will take me well over the £125k tax threshold before adjustments. My 'problem' so to speak is that even after using my current year maximum pension allowance and previous years unused maximum pension allowance I can only get my adjusted income to be around £115k. Tough life I know! I can either make a large Gift Aid donation to get below £100k or use less of my unused maximum pension allowance to keep above £125k. Am I missing any other income adjustment options? What is the actual impact of not being able to hit the £100k adjusted income, and being in the £125k additional tax bracket, from a tax payment perspective in real money terms? I have some small cash savings and stocks outside of ISAs as we put most of these in my wife's name as she is a basic rate tax payer. We don't need the childcare tax scheme and not aware of any other reason to keep under £100k except to save tax and avoid the 60% effective tax rate between £100k and £125k. Don't want to let the tax tail wag the dog, and happy to give to charity, but in real terms is there actually much difference in the tax payment amount in pounds and pence (as long as I kept out of the £100k - £125k range)? Many thanks, Simon   25:33 Question 5 Hi, Fairly new listener to the podcasts, been binge watching them recently, ended up here via the meaningful money YouTube channel. Both are thoroughly enjoyable to watch and are teaching me a lot about the financial world - along with 2 other YouTube channels I like Damien talks money and James shack. Anyway my question if you have time and it's selected would be about retiring abroad. My current situation - male, 42, living north east England, working full time for NHS and will have 2 NHS db scheme pensions in retirement (1 in 2008 scheme at 65 and 1 in 2015 care scheme at state pension age).  I have 2 stocks and shares ISAs,  with about £95000 between them, 1 stocks and shares Lisa with about £4500 in it (for retirement not house purchase), about £21000 in premium bonds which I use as an emergency fund. Our house is paid off so no mortgage payments so at the minute can add to these savings at £500+ a month comfortable. My wife is 34 and here on spouse visa and hopefully will be eligible for indefinite leave to remain and citizenship soon (it will save us a lot in visa fees and stuff when it happens).  She currently works a part time job 16hr per week at minimum wage to fit around child care for our 2year old son. 1st question is would this part time work count as a qualifying year for the state pension as it's below the personal tax allowance? We have a rough plan of retiring early hopefully once our son is grown up and finished with schooling and university and moving back to my wife's home country in Asia for the better weather and lower cost of living.  As a rough plan we think when I'm 60 and wife 52 but could move later depending on family commitments. Now if I stay in NHS all that time I should have 10 years in the 2008 NHS scheme and 24 years in 2015 scheme and with conservative planning on spreadsheets will get £8000 per year from 2008 scheme and £14000 from the 2015 scheme taking at the normal pension age for these schemes.  My wife will benefit from a spouse's pension for length if I die 1st of roughly 1/3 of these figures.  I have the option of exchanging some of this pension for tax free lump sum up to 25% and the calculation is for every £1 I reduce the pension by I get £12 lump sum. Question 2 - everyone at work always talks about you got to take the maximum lump sum to avoid paying tax, but I'm not so sure as the pensions linked to inflation over the long run there could end up being a big gap between your pension with and without the lump sum.  What's your thoughts on this, if I didn't need a large amount  of cash for a specific thing surely it's better to go for the larger pension even if you end up paying for tax or am I wrong . When we move I will have a full NI record for the state pension but my wife won't and depending on your answer to the 1st question might have 20 years contribution say. Question 3 - if we move abroad before she has a full record can we make voluntary payments for extra year's while resident in another country? I see you can pay about £900 for a year in this country but I'm not so sure if where already living abroad. Assuming my savings continue to grow and the stock market doesn't complete collapse, I will use these savings to bridge the gap from 60 to 65 and then the state pension age.  And fund the move with the sale of our house which will also give us a cash buffer hopefully too. Question 4 - when moving abroad can I keep my stocks and shares ISA - I know you can't contribute more to it, but keeping it open to grow, receive dividends, withdraw money, the government website says you can but a lot of the provider websites are vague and some say they don't allow it.  Is it a case when the time comes I'll have to transfer my isas to 1 of the more expensive providers say who are more likely to allow this? Now I already know that the country I'm moving to doesn't have a reciprocal agreement so our state pension will be frozen at the level that we claim it and have based all our plans and number crunching on this. And that the country I move to may charge tax on money I draw out of my ISA when I transfer it over, and on my pension (although with the double taxation treaty hopefully not) and will seek advice of accountants over there nearer the time as currently there is some work arounds involving spouses but these may not be there in 20 years time. My last question -  would be about if I die 1st probably more likely me being older and male, is more for my wife inheriting my UK based assets - the bank accounts and isas, NHS pension.  The NHS pension should be easy she's already my nominee on record and will go through with her the forms and website for claiming it.  But the isas and bank accounts are the main worry - will it be easy for her to transfer them over to her (I'm assuming the joint accounts will be pretty much automatic) but will the single accounts be easy? Can she keep the money in the ISA still in an ISA but in her name? Would having her own ISA make this transfer easier? And most importantly is this something you think can be done online/over the phone from abroad or will it involve a trip back to the UK and back and forward to branches assuming they haven't all been shut. Thank you for taking the time to read this email, sorry it's so long, and no worries if it doesn't get chosen for the podcast. Keep up the good work Kind regards, Mark 38:15  Question 6 Change to ISA rules from April 2027. Audio question from Holly.  

In this episode of The UK Flooring Podcast, Tom is joined by Harrison Smith, Managing Director of Azalea Wealth Management, for a straight-talking conversation about money, pensions, protection and long-term planning for flooring business owners.A lot of people spend years building a business, growing turnover, managing staff, chasing jobs and solving problems, but never properly turn that hard work into personal wealth. Harrison explains why that happens, what business owners often overlook, and why starting small is usually better than waiting for the “perfect” time.Tom and Harrison discuss why pensions are not just about retirement, but can also be one of the most tax-efficient ways for business owners to take money out of their company for their own future benefit. They also cover the temptation to play the short game, why cash flow still has to come first, and why advice should always fit the circumstances of the business rather than follow a one-size-fits-all approach.The conversation also touches on ISAs, short-term savings, commercial premises, SIPP and SSAS pensions, business protection, insurance, and the common mistake of doing nothing because you are too busy working in the business.This episode is especially relevant if you own a flooring shop, run a fitting business, are building a team, or simply know you should be doing more with the money you are making.In this episode, Tom and Harrison discuss:Why many business owners fail to turn business success into personal wealthHow pensions can help business owners plan for the future in a tax-efficient wayWhy starting with £500 a month can still be a serious first stepThe power of compound growth and why time mattersWhen cash might be more sensible than investingWhy short-term investing can be risky if you need access to the money soonHow ISAs can be used as part of a long-term planBuying commercial premises through pension structures such as SIPP or SSASWhy insurance and protection should not be ignoredThe danger of doing nothing because you are too busyWhy good advice starts with where you are now and where you want to get toA reminder: this episode is for general information only and should not be taken as personal financial advice. Always speak to a qualified adviser about your own circumstances.Guest:Harrison Smith, Managing Director of Azalea Wealth ManagementUseful links:Azalea Wealth Management website:https://www.azaleawm.co.uk/Harrison Smith profile:https://www.azaleawm.co.uk/partner/azaleawmBook a financial planning consultation:https://calendly.com/azaleawm/financial-planning-consultationContact Azalea Wealth Management:https://www.azaleawm.co.uk/contactAdvice for business owners:https://www.azaleawm.co.uk/specialist-advice/business-ownersCorporate services:https://www.azaleawm.co.uk/advice-and-services/corporate-servicesAzalea Wealth Management on LinkedIn:https://uk.linkedin.com/company/azalea-wealth-managementHarrison Smith on LinkedIn:https://uk.linkedin.com/in/harrisonsmith3713Azalea Wealth Management on Instagram:https://www.instagram.com/azaleawealth/Harrison Smith on VouchedFor:https://www.vouchedfor.co.uk/financial-advisor-ifa/hartlepool/067376-harrison-smith Hosted on Acast. See acast.com/privacy for more information.

In this Meaningful Money Q&A episode, Pete Matthew and Roger Weeks answer listener questions on key UK personal finance topics, including long mortgage terms, pension contributions, ISAs, investing property sale proceeds and planning for retirement with confidence. They explore flexible ISAs, SIPPs, Junior SIPPs, Gift Aid, money market funds and the £100k tax trap, with practical guidance for UK savers and investors. The episode also looks at financial literacy, how to teach money skills, and how to balance pensions, ISAs and accessible savings when building long-term financial security.   Shownotes: https://meaningfulmoney.tv/QA54    01:23  Question 1 Hi Pete & Roger, I'm a chartered management accountant so maybe I should know this but clearly not. I'm wondering is there a financial disadvantage of just taking the longest mortgage deal you can (i.e. 40yrs for example) & then each time it's up for renewal don't worry too much about reducing the term. As long as the mortgage interest rate is lower than the average long term return you'd expect on the stock market (say min 6%), is it not just best to pay lower monthly mortgage payments each month and keep the spare money invested? On a pound vs pound basis aren't you better off? I understand the stock market can go up and down but over the long term I'm struggling to see what the disadvantage is of this strategy, apart from the apparent freedom of being mortgage free. Thanks Jamie   06:45  Question 2 Hi, Why are these things not widely known or discussed? Flexible ISA's. SIPP contributions when retired. £2880+ Rebate. Junior SIPP when worried about Junior ISA end date. I have heard that Parents/Family/Grand parents don't want to pay in to an ISA when you don't know how the child will react to suddenly having control of this ISA money at 18. A SIPP may be a better option. Also one to watch, if you are retired and contributing to charities and tick "Gift Aid" then HMRC may back charge you if you are not paying tax. Emergency fund in Money Market Fund. Regards, Gary   13:00  Question 3 Dear Butch and Sundance   Long time listener, first time caller. Thanks for all you do, filling in the gaps in our financial education that should (but doesn't) start in school.   I'm 56 and looking at my later career options, something that contributes back and can supplement my (early) retirement income. I enjoyed the episodes you did on becoming a financial planner and if I were younger I may well have gone down that route. Instead I would like to help educate people on basic financial good practice. I'm particularly thinking about schools and young people. What options exist in this space, and if they don't exist and I want to create them, what sort of financial qualification would give me a good grounding so that I am not just an enthusiastic amateur.   I'm writing this in February, so if it makes it on to the podcast Merry Christmas everyone! Keep doing what you're doing, it's working. Nick   18:40 Question 4 Hello guys I have been an avid listener for many years, really enjoy the content. I finally have a question of my own. I am about to sell a property which I own outright and would like some advice on where to invest the money going forward, ie bonds, etf's, pensions, ive even considered premium bonds... I would rather spread the money into different pots rather than one product. I understand a pension would be the most tax efficient and I plan to put a small portion into my sipp and max out my s&s Isa however I'd rather be invested in something more flexible I don't intend to utilise the money anytime soon so I want to maximise its potential. I already have been investing in index funds for many years and built up a nice portfolio through s&s isa's. Any advice would be great appreciated Thanks, Paul   22:09 Question 5 Hello Peter and Roger! Thank you for the excellent videos. I listen to them on my daily walks and while cooking, and I always come away having learned something new—so thank you for all the insight you share! I have a question about planning my finances using the Die With Zero approach, especially as I have no children or spouse. I'm 52 this year and hope to hand in my notice in October 2026. I've always been a saver (largely out of insecurity!), so I'd really appreciate your thoughts on whether I have "enough," and—if so—how I can become a more confident spender in the next stage of my life. Here's a brief summary of my situation: I have around £300k across my ISA, general investment account, Premium bonds and cash savings. The allocation is roughly 20% equities / 60% UK gilts / 20% cash. This pot is intended to bridge the gap until my DB pension starts at 60. My DB pension is currently valued at about £18k per year (today's terms) and is inflation‑linked. I also have a SIPP worth around £500k, invested 85% in equities and 15% in money market funds. I have no debts. A small investment property brings in about £1000 a month. My spending target in retirement is about £2,500 per month after tax. ChatGPT has told me that I likely have enough to retire, but I still worry about worst‑case scenarios—war, high inflation, very low future returns for the next 20-30 years (e.g., below 3%), or needing long‑term care since I don't have family support. I value your thoughts before I finally hand in my notice lol. Thanks again for all the work you do. Abi   32:20  Question 6 Hi Pete and Roger, I'm a long time and regular listener and can even remember the time BR (Before Roger) although the modern era partnership has been some of the most entertaining content on the channel. THE CONTEXT I'm 41, married with kids (all out of nursery so no childcare free hours), we have a house with a mortgage. I'm employed full time, putting 19% of salary into my DC pension. I maxed my employer contribution of 8% (with 6% from me) back in 2019 and have steadily increased my contribution each year up to the current 11% (19% total). Currently the pot is worth ~£140k with monthly contributions of ~ £1,550. I'm in the very fortunate position that my salary growth has outpaced inflation and I am now teetering on the edge of the £100k mark. We also receive a variable annual bonus which is targeted at 10%. Pre Covid, we started a stocks and shares ISA, contributing £300/mo but when my wife was furloughed and subsequently made redundant, we had to stop those contributions. Still, that ISA pot has grown to ~£17k. I'd like to build up the ISA to give us flexibility on draw down in retirement but struggling to find the spare cash. Also mindful of creeping over the £100k threshold and reducing my tax free allowance so considering options like sacrificing part of my bonus this year into pension. THE QUESTION So the question, is it worth continuing to increase my pension contribution to 20% and beyond at this stage or start to focus more on building up ISA contributions. Congrats on the success of the Meaningful Money podcast, it is always top of my weekly listening queue and continues to educate and inspire me. Best wishes, Ben

Today on the show - Jemma Slingo is here to explain some important changes to ISAs due to arrive next year. We answer investors questions - including whether there will be tax to pay on assets that can currently grow free from UK tax. You can read Jemma article on upcoming ISA changes here. How ISAs will change in 2027Ed Monk is joined by Jemma Slingo to provide a well-balanced take on the latest financial developments together with expert insights to help you grow your capital, manage your investment portfolio and make the most of the money markets. Popular for its jargon-free approach, clear analysis and fresh perspective, The Personal Investor podcast helps shine a light on the latest market developments for the savvy UK investor.See omnystudio.com/listener for privacy information.

In this episode of the AJ Bell Money and Markets podcast, Charlene Young and Sarah Coles discuss the dash for cash ISAs ahead of allowance changes, what Andy Burnham could mean for your money, the financial side of marriage amid rumours around Taylor Swift and Travis Kelce, why July matters for the self-employed, and JISA performance data. Meanwhile, 16-year old Tilly joins them to share her perspective on what should be done about lost Child Trust Funds. Dan Coatsworth rounds up the week's market news, including updates on Associated British Foods, Sainsbury's and gold, and speaks to Paul Niven from F&C Investment Trust about what recent market movements mean for investors.   [00:09] Intro [01:29] Associated British Foods results [02:48] Sainsburys Update [03:54] Gold loses its shine [05:03] Interview Paul Niven, manager of the F&C Investment Trust [12:43] What Andy Burnham's approach means for your money [19:52] The dash for cash ISAs continues [24:02] July deadline for self-employed [27:12] Taylor Swift and the benefits of marriage [35:06] Tooth Fairy inflation [38:13] Junior ISA performance [42:14] Lost child trust funds

For many British expats in America, the idea of moving back to the UK can start as a distant possibility, then quickly become a serious life decision. But repatriation is rarely simple, especially when your wealth, tax position, pensions and long-term plans are split across two countries.  In this From the Trenches episode of Expat Wealth, Richard Taylor, Chartered Financial Planner and founder of Plan First Wealth, and business partner James Boyle are joined by guest Miles Sharp of Fawley Wealth to discuss why more Brits in America are thinking about returning home and what they need to understand before making the move.  Together, they explore the emotional pull of the UK, the changing political and financial climate in the US, and why expat life is often more changeable than people expect.  Richard, James and Miles discuss why many people arrive in America thinking they will only stay for a few years, only to find themselves decades later with UK pensions, ISAs, US retirement accounts, green cards, property and tax obligations that now need careful cross-border planning.  The conversation also looks at some of the biggest financial planning risks facing British expats and internationally mobile families, including green card exit tax exposure, PFIC issues, neglected UK pensions, ISA problems, annuities, trusts and the challenges of returning to the UK as a US citizen.  Richard, James and Miles also discuss the cultural differences between British and American attitudes to work, investing, retirement and advice from America's risk-on mindset and strong work ethic, to the British instinct to delay decisions or rely on property and how those differences can shape long-term financial outcomes.  Whether you are a Brit living in America, planning a move back to the UK, managing pensions and investments across borders, or simply trying to build a financial plan that reflects an international life, this episode offers a candid look at the realities, risks and opportunities of cross-border wealth planning.    --    Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management.    https://planfirstwealth.com/    --    Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.     Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.   

Political turmoil is shaking the UK as the nation awaits a new prime minister. Danni Hewson and Dan Coatsworth break down what an Andy Burnham victory could mean for markets, your investments and your money – plus the potential next Chancellor. We also cover falling oil prices, tech stock volatility, SpaceX's wild IPO ride, and big moves from takeover target EasyJet. In personal finance, Rachel Vahey explains major tax-related changes to ISAs and plans for a new First Time Buyer ISA, while Ruffer's Ian Rees joins us to debate whether the classic 60/40 portfolio still works. Burnham PM? Markets, chancellor contenders & your money [0:01:36] Oil plunges as US–Iran talks progress [0:12:31] Tech stocks hit – should you worry? [0:15:43] SpaceX IPO chaos: shares swing wildly [0:20:33] EasyJet rejects takeover bid [0:25:31] Cash ISA changes explained [0:30:46] New ISA for first-time buyers? [0:35:05] Is 60/40 dead? Ruffer's Ian Rees weighs in [0:38:08] Heatwave winners and losers: who is in the frame? [0:55:08]

Another one bites the dust. Sir Keir Starmer has resigned just two years in to being Prime Minister.This latest rotation of Britain's PM merry-go-round comes despite Starmer having done nothing particularly wrong. It wasn't scandal that brought down the Prime Minister, dramatic events, a vote of confidence, or a proper leadership challenge, just his party seemingly deciding it ws fed up with the man who won Labour a huge election majority.Andy Burnham is almost certainly set for a coronation as Prime Minister rather than a leadership contest, so what could that mean for tax, our personal finances and the economy.- and have Starmer and Rachel Reeves left us in a better state than when they took over?Georgie Frost, Helen Crane and Simon Lambert discuss what's happened and what could come next on this episode of the This is Money Podcast.Plus, tax will be charged on Isas for the first time as Reeves tries to block savers and investors from using a stocks and shares Isa loophole to avoid the new lower cash Isa limit. But is this yet more meddling that just makes things worse?And Lee talks to the lady who signs some of our bank notes. The Bank of England's chief cashier Victoria Cleland about new banknotes and why cash is still important.And finally, how much does a full green makeover add to your home's value?Follow us on Instagram @dmgnewmedia.Follow us on TikTok @dmgnewmediaFollow us on X @dmgnewmediaEmail us hello@dmgmedia.co.ukText us 020 7938 6000.Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen CraneProducer: Georgie Frost Hosted on Acast. See acast.com/privacy for more information.

In this Meaningful Money Q&A episode, Pete Matthew and Roger Weeks answer six listener questions on UK personal finance - from gifting money to children using the 'normal expenditure out of income' rules to whether ISA withdrawals can support one-off big spends. They also cover pension consolidation and FSCS protection, investing while living abroad, how DB pension accrual affects SIPP annual allowance, and how to bridge the gap to State Pension without over-relying on AVCs. Finally, they tackle the practical steps to opening a Stocks and Shares ISA - and how to get started with confidence. Practical, jargon-free guidance for UK savers and investors navigating pensions, ISAs, tax and retirement planning. Shownotes: https://meaningfulmoney.tv/QA53  02:35  Question 1 Hi Pete and Roger, I have followed meaningful money for around 6 years now and it has been an invaluable source of sensible advice which I have followed. This has left my wife and I in a very good situation for retirement as you will see below. You deserve an MBE at least!. Love the double act with Roger as well. I am 62 and my wife is 60 years young. Our total pensions will be around 35K a year which is all we need for our basic living cost and general going out etc. We have a house worth £750K with no mortgage and no debts. I have a DC pension around £920K and my wife around £650K and our two boys have just moved out of our house and so we are now retiring and relearning life B.C. (Before Children). I have begun looking into gifting them money out of excess income. I like the idea of giving with warm hands - and strangely so do my boys! Putting our scenario into google gemini, using UFPLS with regular drawdowns and keeping within the current 20% tax band we could each have around 50K income after tax over the next 30 years. Really cannot see us spending more than 40K/year travelling and this will certainly reduce in time as we get older and so will give the increasing excess to our kids. To keep HMRC documentation simple (hmm) we plan to use our joint account to give gifts to the boys but I am guessing that we will need to prove to HMRC that we have equal income to do this? So my wife will take 8.5K less from her DC pension than I from mine. I hope this all makes sense. I presume if our incomes were not balanced we would have to pay out from our individual accounts and document both for HMRC purposes? In addition I have 200K and my wife around £150K in ISAs and savings . I know we can each gift 3000/year from the ISA as well as using excess income from our pension. Again, I asked google gemini about this and apparently I can use the ISA for certain capital payments. Eg a) to buy a new car b) redo bathroom/bedroom c) a large holiday  Not sure what would be the position if we said our largest holiday each year is paid from an ISA and any other holidays are from our pension income and we still gift excess to the kids? - seems a very grey area. I am sure in time HMRC will look closer into this area. So I think it will be sensible to still use the ISA in the next few years and not take everything from the pension and possibly change to funds from accumulation to income as well? One last thought as all this is based on the current tax rates. The IHT rate NRB has not changed since 2009 and would be worth around £530K today and I am presuming there will be increasing pressure to raise this given house price growth and especially after 2027 when pensions are included in the estate for IHT? Best Regards, Bill   09:37  Question 2 Dear Pete and Roger, I can't thank you enough for the excellent free content you put out into the world. I recently got diagnosed with a degenerative condition which will affect me and my family down the line. Your podcast has inspired me to take control of my finances including putting the right protections (insurances) in place and using investing to help navigate a more uncertain future - THANK YOU! The information is accessible and you guys make me chuckle as I go about my day! My question... I am keen to make my life easy when it comes to managing my finances but I have hit a wrinkle in my plan. My preference would be to consolidate my pension into as few pension accounts and underlying funds as possible.  To me the levels of protection available through the FSCS seem too low to be compatible with keeping a pension all with one provider. Am I missing something? How do you think about balancing this risk, without ending up with lots of pension accounts with different providers? Additionally, I have been selecting the same low cost All-World tracker ETF across my family's ISAs and SIPPs, is this inherently risky too and should I aim to use different fund providers (perhaps that aim to achieve the same investment objective). Anyway, I may be being overcautious here or be misunderstanding the level risk but any reassurance would be greatly appreciated. Thank you again Andy   18:24  Question 3 Hi Roger and Pete, I'm 32 and I've been listening the podcast for a few years and the advice (particularly about investing) has helped me immensely. I have a question about investment portfolios when moving abroad. I moved away from the UK 2.5 years ago, at which point I stopped investing into Vanguard and moved to Interactive Brokers. I still have a decent amount invested in Vanguard, but I'm not sure whether it makes sense to consolidate everything into one platform or keep it split over two. I don't have any immediate plans to return to the UK, although I imagine I will eventually. Do you think it makes any difference in how the investments are split, or am I worrying about nothing? Thanks for sharing any of your *thoughts* and perhaps clearing this up for me. Keep up the amazing podcast, Michael (originally from Cornwall!)   21:23 Question 4 Hi Pete and Roger I recently discovered your podcast and am working my way though the back catalogue! I am finding it extremely informative and it is helping me demystify a subject I have found confusing for a long time, so thank you. My question is how do I calculate the amount I can contribute annually to my SIPP whilst also contributing to a DB pension and AVCs (£200/month)? My annual gross salary is £25744. I opened the SIPP to give me flexibility to retire earlier than 67 when I intend to access my DB pensions (as well as my current local government DB pension I have a deferred University DB pension from previous employment), ideally between 60-62, and access the SIPP along with my S&S ISA to bridge the gap. Thanks, Melanie   27:28 Question 5 Hello Pete & Roger, I'm a long time listener and as a result in far better financial shape than I was for many years, thank you. In work I am often akin to the Shawshank Redemption character Andy Dufresne as I find myself offering financial or pension scheme advice to colleagues. This advice ends with recommending your good selves and the knowledge repository that is the Meaningful Money archive and books! I am 56 and just over 4 years from my planned early retirement at 61,  when I will have 36 years contributing into a company DB pension. I plan on taking this in a stepped format (with PCLS) to offer a higher initial payment until my state pension starts 6 years later at 67. To maintain basic rate income tax, I am paying my maximum matched pension contributions plus AVC's through salary sacrifice (until 2029) to keep just under the 40% tax limits. My wife will be solely reliant on her (full) State Pension having not contributed to a personal pension, she will receive this when I am 64, meaning our combined funding danger zone will be around 3 years during which we may need funds to top up our income either from the PCLS pot or ISA savings to this final combined total, "our figure". So my question: You repeatedly talk about retiring with options such as having pensions, ISA's and savings etc. but I am concerned my pension and AVC fund will be totally concentrated with little else. After maximising the pension and AVC contributions it looks likely I will not contribute enough to fund a savings pot that could comfortably cover the 3 year danger zone. Will this pension / AVC concentration matter? Should I continue paying the AVC's to avoid higher rate tax on my income and recovering tax rebate into the AVC pot? To me this makes sense, but would funding a savings pot give us flexibility to fund our pension gap somehow that I am missing, and do I need to target an ISA or other savings pot in my remaining working years. This prospect would feel like not living for today, but retirement is in touching distance so might it be worthwhile? Many thanks & best regards, Tim   34:52  Question 6 To the Bruce Springsteen and Little Steven of the financial world! Hi guys my name is Cam, I'd just like to say you guys are absolutely fantastic at what you do, the knowledge you provide is genuinely incredible and immensely helpful. I think I speak for all your listeners when I say without your podcast there would be a lot of people struggling with personal finance! Keep up the good work Pete and Rog! I am 27 years old, 17 months ago I quit my 9-5 and started my own dog walking business, I have since trained to become a dog trainer too. My business has gone from strength to strength and I'm very proud. However the change from going from a wage structure to a varied income per month has been a tough adjustment especially when saving and wanting to invest and so on. I contribute to my pension each month, I pay into a LISA each month (for a first time home) the only thing I don't do is pay into a stocks and shares ISA. Firstly how do I open one? I have listened to your podcast for well over 2 years now and have listened to the majority of the back catalogue, I feel like I know what to do but it's a genuine fear that's stopping me from opening one. I don't know how to explain it - it's almost like my head is telling me 'don't open one you'll mess it up.' Is it literally as simple as sign up to a provider, open an account, add money in each month? I feel stupid saying I'm fearful of opening one but I genuinely am! The last part of my question is simply is there anything else I should be doing that I'm currently not?  Insurance wise I have income protection and the necessary insurances for my business. Thanks once again you absolute legends! Cam Boring Money ISA Comparison: https://www.boringmoney.co.uk/compare/stocks-and-shares-isas/ 

YOU'RE NOT BAD WITH MONEYInvesting is one of those things most people know they should be doing.But somewhere between ISAs, index funds, inflation, pensions and "financial advice", many people end up doing nothing at all.In this episode, we sit down with personal finance educator Lisa Meller to talk about why investing feels so confusing, why so many people leave money sitting in cash, and how building wealth is often much simpler than we've been led to believe.We also explore why the UK is still so risk-averse when it comes to investing, the psychology behind financial decision-making, and why understanding money shouldn't be reserved for finance professionals.If you've ever thought "I know I should invest but I don't know where to start", this episode is for you.Connect with Lisa:Instagram: @personal_finance_movementChapters00:00 Intro01:22 Meet Lisa Meller03:00 How Lisa Got Into Investing06:10 Why Financial Education Is Missing07:30 Why Most People Don't Invest08:40 UK vs US Money Mindsets12:00 Saving vs Investing18:00 Understanding Risk24:00 Stocks & Shares ISAs31:00 Compounding Explained39:00 Common Investing Mistakes47:00 Building Wealth Long Term55:00 Final ThoughtsWhat We Cover• Why investing still feels intimidating for many people• The surprising gap in financial education• Why smart people often know very little about money• The difference between saving and investing• How inflation quietly impacts your wealth• What a Stocks & Shares ISA actually is• Why consistency matters more than timing the market• The habits that help build long-term wealthKeywordsInvesting for beginners, personal finance UK, financial education, stocks and shares ISA, index funds, compound growth, money mindset, wealth building, passive investing, UK investing, financial freedom, women and money, long-term investing, personal finance podcast.

In this bonus episode, we hear from PensionBee customer Nigel. Now 76 and retired, he spent decades commuting into Central London, raising two children, and telling himself he'd sort his pension "someday". A bad experience with an active fund manager and an IFA changed all that - and a tip from his son led him to PensionBee. We unpack Nigel's pension journey with pensions expert Dani Skerrett from PensionBee, covering the tax benefits of saving into a pension, when a financial adviser is (and isn't) worth it, how to think about how much you actually need in retirement, and what life in drawdown really looks like day-to-day.   Episode breakdown 00:48 Meet Nigel 03:19 The tax benefits of saving into a pension 06:47 Should you use a financial adviser? 12:11 How much do you actually need for retirement? 16:12 Nigel's life in retirement   Further reading and listening  To learn more about the topics discussed in this bonus episode, check out these articles and podcasts from PensionBee: E43: Who wants to be a pension millionaire? (Podcast) E37: The easiest way to retire with more money (Podcast) 4 smart ways to use your ISAs in retirement (Blog) Independent Financial Adviser fees on pensions (Article) What is a crystallised pension? (Article) What is flexi-access drawdown? (Article) What is the 4% rule for withdrawals in retirement? (Article)   Other useful resources Pension Calculator (PensionBee) Retirement Living Standards (Pensions UK) Taking money from your pension just got simpler with Automatic withdrawals (PensionBee) The new State Pension (GOV.UK)   Catch up on the latest news, read our transcripts or watch on YouTube: The Pension Confident Podcast The Pension Confident Podcast on YouTube Follow PensionBee (@PensionBee) on TikTok, YouTube, Instagram, LinkedIn, Facebook, X and Threads. Enjoying the podcast? Tell us what you think below and give us a review or rating. As always we'd love to hear your suggestions and feedback. Send us an email: podcast@pensionbee.com.

In this UK personal finance Q&A, Pete and Roger tackle six listener questions covering pensions, investing, tax and money mindset. We discuss whether high earners should ever consider opting out of the NHS pension due to annual allowance tax, how to handle family gifts during divorce, and what to do about ERI on accumulating ETFs in a GIA. You'll also hear guidance on rebalancing after strong fund gains, rebuilding finances after an IVA, and investing a £350k inheritance with ISAs, SIPPs and premium bonds. Shownotes: https://meaningfulmoney.tv/QA52    01:34  Question 1 Dear Pete and Roger, Could you provide an opinion on if and when it would be worth at least considering leaving the NHS pension scheme due to tax reasons?  I can sense immediate puckering and this is not something I ask on a whim - I am aware of the comparative value of public sector DB pensions versus other retirement savings methods and indeed encourage the staff I work with to pay in.  I am a senior doctor in my 40s with high NHS earnings and rental income on top. I am one of those affected by Annual Allowance tapering and have significant AA tax bills every year with no end in sight. My projections are that I will have an annual AA tax charge of ~£30k every year going forwards as my income is pretty stable. The annual AA tax charge is up to 40% of the annual capital benefits accrued in any year (i.e. LTA calc of 20 times pension plus 3 times lump sum).  I pay this via scheme pays but the scheme pays loan docked from benefits at retirement is inflated at CPI+1.7% against pension benefits growth of CPI+1.5% from my own research. I don't expect much sympathy as a high earner but no-one wants to pay more tax than they have to and I never hear my situation talked about other than snippets in the depths of Reddit forums.  My plan is to keep ploughing on and engage a full-scale planning review when I turn 50 leaving up to 10 years to consider aversive action once my wife and I have 'enough' pension. Many thanks for your thoughts. David. 09:23  Question 2 Dear Pete and Roger, I want to say a big thank you for all of the guidance you provide, there really is nothing else like it and has been hugely beneficial in organising my finances. My question for you is how to structure gifts to someone who is going through the early stages of a divorce. My sibling is sadly in this situation and our mother is looking to make a sizeable gift to us following the death of our father. How should we be thinking about this and are there any vehicles or structures such as trusts that we could be using to avoid my siblings spouse from being entitled to half of the gift? Grateful for any guidance you can provide in this matter. Best regards, Alfred 13:12  Question 3 Hi, I have held several GIA accounts for many years and I hold accumulating ETFs within the GIAs. Occasionally, I have had to pay CGT through my self assessment when I have sold these ETFs. Mostly, I have always been a basic rate tax payer. I have recently discovered that HMRC requires Excess Reportable Income (ERI) to be declared on accumulating ETFs. In the case of ETFs which receive company dividends, this means I need to take note of the Reporting date of each ETF and add up all notional dividends as if they were paid on the distribution date (6 months later) and if over £500, I should have paid dividend tax on the excess. Also, in the case of some MMF ETFs I hold, these may have an ERI notional interest payment and this would count as being potentially subject to income tax. Since I have sold many of these ETFs and I have not subtracted the ERI amounts from my total gain, I have probably overpaid tax (CGT) rather than underpaid as a basic rate tax payer. However, if I was a higher rate tax payer, I would probably have been underpaying tax if I have not accounted for ERI. This is because the higher rate dividend tax is much higher than the CGT rate. I now understand that to avoid having to calculate ERI on accumulating ETFs each year and keep a running total for each one, most people simply buy distributing ETFs inside a GIA rather than accumulating ETFs and I am in the process of ensuring all my ETFs are the distributing kind inside my GIAs. Should I be concerned about ERI on my accumulating ETFs? Do accountants calculate ERI for their clients on all the accumulating ETFs they hold? If so, how do they do it as there does not seem to be any easy way? Do HMRC ever check that the ERI on accumulating ETFs has been declared (my guess is that they would only bother for high rate taxpayers with large ETF holdings)? How would HMRC even know that you hold large amounts of accumulating ETFs on which you should be declaring ERI? Why is it that hardly anyone seems to know about ERI on accumulating ETFs? 19:14 Question 4 Good morning both, I would like to start by thanking you for all your hard work over the past decade or so. I am a mid 40's year old woman who had no financial knowledge until about 2 years ago. I had a cancer diagnosis which led me to leave a very time consuming and stressful job and take over the family finances which had been neglected for the best part of 20 years. We are now in a much better position; we have filled our ISA's and that of our children, put more money into SIPP's (and opened one in my case) and opened junior SIPP's for the kids. Our mortgage is paid off too. I have listened to all your back catalogue and in some cases relistened to episodes which have been especially useful to our situation! Thank you. My question relates to funds that have done particularly well and what is best to do with them. Some of my earlier fund choices are showing gains of around 50%. This seems extraordinary to me and I am very happy with the return. My Dad (much more experienced who has been doing this for 50 odd years) tells me the best thing to do with these funds is to take out 50% of the gain and reinvest in a different fund. What would your advice be? Take out the whole lot and re-invest? Take out 50% and re-invest that as recommended by my Dad or leave the whole lot in and hope it continues to grow? For background, I am very happy with the gains but we are very much on a catchup programme as we have started so late. The sums involved are still quite small! The ultimate aim is for my husband to retire early. I hope to work again too at some point once all treatment is finished but only part time. I am so grateful for everything you have done and always wait eagerly for the next episode to drop. With very best wishes, Agnes 26:02 Question 5 Hi, Hope you are well and can help a Cornish lass! I am 35 and have never been able to budget or manage finances. In fact I have always buried my head in the sand.  Unfortunately, when lockdown and maternity leave hit at the same time, we could not afford our debt repayments (we had purchased a house in January of 2020 too). We had no choice but to take out an IVA. We are now in the 6th year of this as it was extended as we couldn't release equity from our home. This is due to end in November of this year and I have been doing my best to learn about budgeting and managing finances ready for when this ends.  I have started a spreadsheet to start tracking expenses and aim to start an emergency fund plus a pot for putting some money away for Christmas/birthdays. I have been discussing this with my husband and he thinks we should get an overdraft as soon as the IVA finishes to start building our credit rating, whereas I think we should get a small credit card that we pay off each time we use it. What do you think we should do as our first few steps coming out of the IVA to build more security for our future?  Thank you in advance. Kindest regards Lisa 33:12  Question 6 Salutations, Roger, Pete, My question is on what to do with a lump sum inheritance-y thing as a younger guy. My parents have been very financially successful in business and incredibly generous to my brother and I, and gifted us each an apartment a few years ago, to make use of the "first property" exemptions and the 7 year gift rule. Now that I'm mature enough to understand the opportunity, I've taken control of the management of mine. While I understand it's an incredible income generating asset, I'm not a fan of real estate, and am much more comfortable selling the property and investing in index funds within the variety of wrappers available in the UK. After fees and taxes, should I go through with the sale, I will net approx £350k. My plan is as follows: - £47k into premium bonds (I currently have £3k) - £40k into my SIPP (limited by current salary) - £40k held in cash, to be invested into my SIPP in tax year 2, potentially up to £52k as my salary rises - Remainder into GIA - All invested in Vanguard index tracking funds I'm 26, working as an Officer in the military, so I have an incredibly low cost of living (subsidised accommodation and no utilities), and a non contributory DB pension plan, so no need to allocate money there, and am able to max out my S&S ISA yearly just with my salary. I know these steps are good, but having the best part of £220k in a GIA, paying CGT on the other end of that makes me a little unhappy, especially if I hold it for multiple decades. I'm aware this is a real champagne problem but do either of you have any recommendations on improvements to my plan and mindset, or are you able to poke any holes in my approach? Should I hold more in cash to later invest into my SIPP? Bed and ISA/ SIPP over time? Spend some of it, even? I know it's an aggressive approach, but I'm sort of an "all or nothing" sort of guy, even with investing as is referenced in my 70+% savings rate, but balance has always been hard for me to find. My goal is to be Financially Independent by 36. I'll likely keep working but I like the security of that idea, and the saltily coined term "F-you money". Whatever you both think, I will deeply ponder over and analyse for many hours. Thank you both for the many episodes of top tier information. I would apologise for the lack of brevity, but I know you love it really. Thanks guys, you're both rockstars! Nick

Most people assume that earning a high income automatically leads to financial security.In reality, many high earners still feel stuck.In this episode, financial planner Lawrence Bearman explains why income alone isn't enough, and how successful professionals can turn earnings into long-term wealth.We discuss tax efficiency, pensions, ISAs, property decisions, cashflow planning, and the common mistakes that prevent high earners from building real financial freedom.Whether you're deciding between investing or paying off your mortgage, wondering how much you need for retirement, or simply trying to make smarter financial decisions, this conversation offers a practical framework for thinking about money.Topics include:Why high earners still worry about moneyThe hidden impact of tax on wealth creationInvesting vs paying off your mortgageHow to use cashflow modelling to plan your futureProperty, pensions and long-term financial planningThe difference between a high income and real wealth

In this Meaningful Money Q&A episode, Pete and Roger answer six listener questions on pensions, retirement planning and tax for a UK audience. We cover whether to put life insurance into trust, how to reduce the 60% marginal tax trap around £100k income, and whether taking a defined benefit pension early can make sense when health is a factor. Plus, we explain the Royal Mail Collective Defined Contribution (CDC) pension, share practical guidance on dealing with overseas pensions, and discuss when to take 25% tax-free cash for the best outcome. Shownotes: https://meaningfulmoney.tv/QA51    01:36  Question 1 Hi both, I have a question relating to discretionary trusts for life insurance policies. I'm from Scotland, 37, married with 2 young children and have a life assurance policy with Vitality which is currently not in trust. I was considering putting into a trust for the benefits associated to inheritance tax but was looking to get your opinion on whether it was necessary or not, and what the pros/cons are. Thanks, Marc 05:46  Question 2 Hi Pete and Roger I am a relatively latecomer to the podcast - its been a year or so now but your work makes the complications of planning for retirement so much more understandable so thank you for bringing clarity to a very difficult subject. I have two first world questions if I may.  Neither are time critical. I am in a fortunate position.  DB pensions will kick in over the next 2 years (I am 63) totalling circa £75K pa and with the state pension at 67 it won't be very long - if tax thresholds and rates don't change - before I will be hitting the 60% effective rate.  So to delay the inevitable, I am thinking I will need to contribute to a DC pension!  As I understand it, if I have a DC scheme for three tax years and presumably contribute to such a scheme each year (say £100?) in the year I hit the £100K income, I will be able to contribute gross £3600 x 4 (so £2160 pa or £8640 in total, less any annual contributions along the way) in the first year or with care spreading that amount over 2-3 years to ease the tax burden.  I realise when the money is withdrawn it will still be taxed at my marginal rate, but maybe the 60% marginal rate will have been removed by then - I can hope!  Is that right?  Have I missed anything or are there any other techniques generally available? I am also in a position that when my wife and I both die, unless carehome fees have eaten into the estate, there will be inheritance tax to pay as our combined wealth is well over £1m and we have already given away what we reasonably can to our children.  As I understand it, inheritance tax is payable 6 months after death but all being well probate will be granted well before that so our bank accounts can be used to pay the tax (our children have financial and health powers of attorney but they are irrelevant on death).  Apart from incredibly expensive life assurance or a lifetime gift of cash for this purpose, is there anything else we can do to facilitate payment (the nature of our affairs means there's not much more we can do to mitigate the liability itself, ie the vast majority of the value is in the family home!) Many thanks, David   11:46  Question 3 Hi Roger and Pete,   First of all thank you for all the content you provide, it has been incredibly useful as I start to really take the idea of early retirement seriously.   I am 49 and looking to retire as early as financially possible as I have medical issues that mean my life expectancy is somewhat curtailed - though I plan on defying the inevitable for as long as possible.   I have a DC pension which I plan to access as soon as I stop working in hopefully 10 years' time. I also have an index-linked deferred DB pension which provides a 50% widows pension as one of the benefits.   I am torn between accessing this 6 years early (with a 25% reduction) as I start drawing from my DC pension, or delaying so that my wife is better taken care of later in life. Whatever I choose, all the projections seem to stack up that my DC pension should last into my 90s, but I'm acutely aware that I will probably want to go a bit overboard when I first retire and try to maximise travel and experiences.   My question is, am I missing something in the DB trade off?  Assuming I live a while after retiring, accessing the pension early will take a decent amount of time before we're financially worse off than we would have been if we'd waited (~13 years). However the combined loss of my state pension and the smaller DB income could leave my wife short of funds.   I would really appreciate your perspective on this scenario and anything else you think I might want to consider, many thanks again for all of your words of wisdom, Dan Meaningful Academy Retirement Planning: https://meaningfulacademy.com/retirementplanning  19:40 Question 4 Hi Pete and Roger! My partner works for Royal Mail, she is under the new starters contract and started in 2022, at which point the pension scheme was a typical defined contribution scheme with very generous contribution levels from the employer of 10% with a 6% contribution from the employee. This was 'easy' to make assumptions on for compound calculations to plan for our very far away retirement as we are both currently 27 years of age. Now this brings me to today's pension scheme, which is known as a Collective Defined Contribution plan. I'm struggling to find any information on this type of scheme as it seems to be the first of its kind in the UK, and seems to have been used for a while in the Netherlands. Now the wording of the scheme seems to be worded as if it's a Defined Benefit scheme with a lump sum being paid at retirement age and a 'Guaranteed income for life' amount being paid each month, however it has the caveat that the payout per month may decrease if investments do not perform as expected for better or for worse, so this is not a guaranteed amount at all in reality. The issue I have with this is that with a standard DC scheme like my own, if I was to die either before or during retirement, the remaining money in the pot would be inherited by my surviving spouse or if she was to pass away before I do, it would go to the next nominated beneficiary. With the Collective DC scheme, it's worded that if my partner was to die before she claimed it then I would receive the 'income for life' portion at a reduced rate of 50% and lose out on the lump sum entirely or if she was to pass away after claiming it then she would clearly receive the lump sum and I would remain to collect 50% income for life for as long as I remain alive. This seems to be very unfavourable for anyone receiving the benefit of this scheme on the whole. Now with some calculations, not using exact figures but somewhere close, I've just done some comparisons as the new Collective DC plan was sold as far and away a better option than the old DC Plan, but I cannot find a way for it to make sense. It's hard to see how this new scheme is better in any way compared to the old scheme, even if the contributions from the employer look more generous on paper. Is there something I am completely missing or misunderstanding with this new type of pension scheme? I have not seen much content online about it at all and would love for this to be featured in a podcast episode or video or even just for a chat on this matter as I feel very underwater with this. I can't seem to find a good way to factor this pension into our plan as we do plan to retire before the age of 67, this is just the age stated on the CDC scheme for payout so this is the assumption I am working with. There is an option to opt out of the CDC plan and join a regular NEST DC plan instead but this only has 4% employer contributions on top of the 5% employee giving a yearly contribution of x per year. I suppose my main gripe would be how much you would lose out on if the worst was to happen as traditionally this would remain as a pot for next of kin to inherit, however if my partner and I both passed away at age 70 (I certainly hope not!) and didn't have kids under the age of 18, the entire amount of money would be lost. This is the part I'm struggling to wrestle and the NEST pot even looks appealing with this in mind. I know the future is uncertain and we could live to 100, but the chances are relatively low. Apologies this got a bit long and ranty, I would appreciate any feedback. Keep up the amazing work and I have learned loads from your content over the years. Many Thanks, Joe 29:56 Question 5 Hi Pete and Rodger, Like many people these days, I spent part of my career working overseas. I'm now 52 and have been thinking about how best to deal with personal pensions I accrued while working abroad, in my case, in Japan and the United States (both broadly equivalent to 401(k)-type schemes). While working overseas, I didn't accrue sufficient qualifying years to receive any state pension benefits, but I did build up some company personal pension entitlements. The amounts are relatively small (less than £100k in total), which makes me question whether it's worth the time and cost of seeking formal financial advice. My UK-based pensions and ISAs are relatively straightforward and well organised, but these overseas pots feel more cumbersome by comparison. I imagine there must be many people in a similar position, holding small overseas pension pots and unsure what the most sensible approach is. From an administrative perspective, it feels as though the simplest option may be to access these pensions as soon as I reach the relevant retirement ages, rather than continuing to manage them long term. That said, I'd welcome any general thoughts or guidance on typical approaches people take in this situation, and any obvious pitfalls to be aware of. Many thanks, Lawrence Perceptive Planning - https://www.perceptiveplanning.co.uk     34:20  Question 6 58 now and both thinking of retiring at 61 with no mortgage and kids self sufficient. At age 61 we will have around £300k in savings (inc stocks n shares ISAs, cash ISAs, Premium Bonds and Bank Accounts) and between us will have around £450k in Pensions at age 67 and the wife will get a £7k a year NHS DB pension. Our idea is to live off the cash first from age 61 till age 67 to let the pension pot grow to its absolute max and then draw down the 25% tax free to add to state pension at age 67 then live off the rest at about 4% per year BUT others say take the tax free 25% before 67 because if do it at 67 it will add to the state pension taking you over the personal allowance! We want to let the pot grow more for actual retirement age of 67 onwards and leave more for the kids inheritance long term if we don't use it all so unsure what to do. For clarity, it's our intention to lump sum some money in to our pensions and ISAs in April with some of our 'available cash' and may also lump sum in to my Stocks n Shares ISA to leave it growing for say between 8 to 15 years until we need it. Any advice welcome, Steven. James Shack video on Withdrawal Strategy  https://www.youtube.com/watch?v=d4MDvcEcHXI   

This week on Cash Chats, host Steve Alderton and Editor of BeCleverWithYourCash.com James Andrews talk about the £12 billon that savers moved in to Cash ISAs in April. Where has that money come from, why the shift in saving habits and where you can get the best ISA rate. For links and further reading head to becleverwithyourcash.com/cashchats ABOUT CASH CHATS Cash Chats is the award-winning podcast brought to you by the team of money geeks at Be Clever With Your Cash, sharing the latest updates from the world of personal finance and helping you to navigate the everyday money challenges we all face. Show notes can be found at becleverwithyourcash.com/podcast. BE CLEVER WITH YOUR CASH ON SOCIAL twitter.com/BeCleverCash instagram.com/becleverwithyourcash   youtube.com/@becleverwithyourcash   GET OUR WEEKLY NEWSLETTER You'll also get a free Quidco bonus for signing up https://becleverwithyourcash.com/newsletter/ MUSIC The music is Easter Island by Lonely Punk and provided on a creative commons licence 

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Many real estate teams try to build an appointment-fed model with ISAs serving agents ready-to-go opportunities. This can work - it can create efficient production.But when Ryan Crighton and Danny Rinaldi tried it, they discovered it wasn't building agents who were as strong and well-rounded as they wanted.Learn how the shift from appointment-fed to well-rounded happened, including what prompted it, what it took, and what it produced for their 23-agent team serving clients in Las Vegas, Henderson, and Boulder City.Learn the accountability structure that's enforced more by the environment than by team leaders and the vibe-first recruiting approach that attracts new agents who exceed performance standards before anyone asks them to.And learn how Danny evolved from ISA to coach to sales manager, what that role looks like day to day, and how he and Ryan complement each other in a partnership that lets each of them operate in their strongest area.Watch or listen for Danny's and Ryan's insights into:0:00 Intro and welcome1:22 Being in the weeds as the must-have characteristic — and why agents watch what you do more than they ask what to do2:08 The difference between vibe and culture — and why vibe is what actually drives performance and retention4:11 How Ryan built from REO listings in the 2008 downturn to a 23-agent brokerage team, and how Danny went from Brooklyn phone sales to Las Vegas sales manager10:00 Why new agents book appointments before they know anything about real estate — and why knowledge without attitude slows them down16:17 Why Danny leads recruiting conversations with vibe, not accountability — and how accountability reveals itself before the agent ever joins17:34 How the Creighton Rinaldi accountability system enforces itself. No manager required.19:06 How the peer accountability pod model (inspired by Brett Jennings, Ep 98) turned Danny into a facilitator — with agents coaching each other for most of the hour26:59 Why Danny makes phone calls side-by-side with every new agent within 24 hours of joining — and what that did to prospecting adoption29:32 How Nevada's two-month gap between passing the real estate exam and receiving a license became a training opportunity32:37 Why handing agents ready-made appointments produced weaker agents — and what happened when they stopped37:25 Why too much focus on market stats gives agents an excuse not to prospect — especially in one of the most volatile real estate markets in the U.S.40:23 Why the team model is the only structure built to meet what today's real estate clients actually expect41:51 At the end, Danny gives an impossible-to-follow team story and a sought-after spreadsheet and Ryan reveals a frivolous ride and a timely sports team.Related episodes→ Peer Accountability Pods with Brett Jennings→ Leadership Structure with Ryan Rodenbeck and Johnny McCarthyBook mentioned in this episode→ The War of Art by Steven PressfieldConnect with The Crighton Rinaldi Team→ Ryan at CRHomeTeam dot com / 702 217-1048→ Danny at CRHomeTeam dot com / 347 598-0913→ https://www.instagram.com/dannyrinaldi/→ https://www.instagram.com/crightonrinalditeam/→ https://www.crightonrinalditeam.com/team-pageConnect with Real Estate Team OS→ https://www.realestateteamos.com→ https://linktr.ee/realestateteamos→ https://www.instagram.com/realestateteamos/

Hosts Merryn Somerset Webb and John Stepek take another listener question, this time around the pros and cons of ISAs, LISAs, and SIPPs. They debate the most tax-efficient method of saving depending on one's circumstances and why savers need to be aware of the withdrawal rules to avoid any nasty surprises.See omnystudio.com/listener for privacy information.

What do you make of this new '22% tax on uninvested cash in Stocks & Shares ISAs'?To be transparent and up front, the full details are still not known. Once we do know the full and final details, I will release another episode. But I still think it's worth putting this out to make you aware of this coming change and so you have as much time as possible to take any potential actions that you need to. -----------------------------------------

What do you make of this new '22% tax on uninvested cash in Stocks & Shares ISAs'?To be transparent and up front, the full details are still not known. Once we do know the full and final details, I will release another episode. But I still think it's worth putting this out to make you aware of this coming change and so you have as much time as possible to take any potential actions that you need to. -----------------------------------------

In this UK personal finance Q&A episode, Pete Matthew and Roger Weeks answer six listener questions covering pensions, retirement planning, investing, and mortgages. You will hear practical guidance on topics like using UFPLS and ISAs for gifting, whether dividend income is a sensible retirement strategy, and what to consider before consolidating multiple pensions into one provider. The episode also tackles planning priorities, including how to sense-check your annual financial review, when it is worth switching to a higher-equity pension fund, and how to balance pension contributions versus ISA funding and mortgage overpayments. If you are looking for clear, jargon-free retirement and wealth-building advice in a UK context, this one is packed with real-world considerations and next-step thinking. Shownotes: https://meaningfulmoney.tv/QA50    02:24  Question 1 Hello gents, My wife and I are hopefully about 5 years off retirement starting at 60, and thinking about options for gifting. We are both planning to stay within the basic band, but if plans go well we hope to support our kids while we're still alive with help towards a house deposit or similar. Am wary that a large withdrawal from a DC pot would likely take us into high rate tax. This would be mainly on me as we'd plan to spend my wifes smaller DC pot down during 60-67 to max personal allowance before state pension kicks in. Is there any downside if I immediately draw UFPLS from my DC up to the top of the basic rate threshold, and putting excess into a cash or S&S ISA? That would then build up tax free and be used to fund family gifts (or perhaps replacing a car). my thinking is - the portion we move to ISA is still effectively part of the retirement portfolio - just held in a different wrapper. thanks for your priceless information (for education and information only not guidance!) over the years. long may it continue! cheers, Richard   07:15  Question 2 Hello Pete and Rog, Loving the Podcast having only found it recently.  You're doing great work. I've bought and read your retirement book, signed-up for an intro call with Pete and am thinking about doing your course. In the meantime, and I know this is greedy, I have three questions.  I think they'll be interesting to your listeners, though, so here we go... First, what are your thoughts on funding retirement income completely or mostly from dividends / coupon payments, rather than capital withdrawal?  For me it seems very attractive because I can draw-down the income on a quarterly basis while not touching the capital.  That makes me feel safer from having to sell in a down-market.  I can also expect the capital to grow a bit over time, at least the equity generating dividend element.  That said, I've seen one of the other retirement finance podcasters say that technically it doesn't matter whether you take income or capital. Second, if I adopt an UFPLS approach to my pension and, rather than take a large tax free sum one-off, I take the 25% of each withdrawal as tax free, how does that work in the future in two respects.  First, can the government later change the rules and say that I can no longer take 25% as tax free?  I assume they can, which would be worrying.  Second, does the lifetime £268k limit for tax free cash still apply cumulatively over-time i.e. can I only continue to take 25% of my withdrawals as tax free up until they cumulatively sum to £268k?  Or, am I allowed to take 25% of each withdrawal, even as the fund might grow in value and then the total of these 25%s over say 10-15 years eventually exceeds £268k? Third, I'm aware the age at which you can take your pension is changing from 55 to 57.  I will be 55 in March 2027, so can access my pension under current rules.  But I will not be 57 when the change kicks-in in April 2028, so am I going to then lose access to my pension for a number of months until I then turn 57 in Mar 2029?  I've heard someone say that there might be an exception for people who have already accessed their pension.  I've also heard it depends on whether there are certain protections/terms around the individual pension fund.  Any advice on whether this would be true would be very helpful. Looking forward to hearing your thoughts on any or all of the above. Best of luck with the pod. cheers, Steve 14:52  Question 3 Hi Pete & Roger, Thanks for the advice (go on, name that film) over 2025 and the podcasts. There is a ton of material on you tube covering why pension consolidation is a good thing. How it simplifies the admin. How it makes it easier to track what you have and how it is performing etc. Why wouldn't I want to consolidate all my pensions and what could be the disadvantages of consolidation? Recently I've met with my IFA and for a year now I have been investing heavily into my SIPP. As the IFA he charges for the service he provides and I am happy with that (for now). The charges are low with this provider (Quilter) and it performs well as a medium risk opportunity. My IFA, rightly in my opinion, suggests avoiding keeping my Octopus (previously Virgin) pension as this doesn't offer flexi drawdown and is higher risk than my Quilter SIPP but with only slightly better performance. I have four pensions (SIPP) in total. Now my IFA would of course benefit from me moving all funds to Quilter as he receives a percentage fee on a larger chunk of funds. So that is a warning sign for me as he cannot really be impartial. At the moment I can track my pensions online and I do this almost daily, they all have the relatively same performance and together average about 9.6% over the past 12 months. They are all broadly within a single percentage point of each other. I can see the following arguments to avoid consolidation altogether. 1. Tracking multiple pension funds is not actually hard to do. 2. Maybe when it comes to flexi access draw down it gets a bit more complex to get the tax free elements right to be as tax efficient over the long term but the pension companies track the percentages taken so I cannot see this as a big problem either. 3. Having multiple SIPPS allows me see how they perform against each other. Sometimes one is a little more volatile than the others but in actual fact I'd like to see more volatility on one over the other. Makes things more interesting. Of course that might change in later life so I may choose to draw more heavily on the well performing fund with more risk as I reach later life years. 4. Multiple SIPPS allow me to have funds with different levels of risk associated with the investments, so I might choose one fund to have medium risk and another quite high.  5. The big one for me though. Why, why, why would anyone trust a single SIPP provider with all their future wealth? No matter how well it is managed today and the regulations which are in place and the FSCS protection etc, I just cannot stomach the risk in a single point of failure. Why? So the IT platform could collapse making the funds inaccessible either for a short time or for months. Rogue actors inside or outside the company could arguably sabotage the platform. Yes this is highly unlikely but it can happen. Spreading the risk mitigates this. There is a very real concern. Poor management of the funds could lead to a serious downturn in the investments whether that be short term or longer term. Now the underlying funds might underperform but if that is your key worry then you'd simply change the SIPP investments. When I research reviews on the web for anything I look for the pros and cons and decide which opinions seem most sensible to reach a balanced view. However in the case of pension consolidation everyone seems to recommending consolidation, not one article about keeping them separate. Yippee cay aye (same film) and best regards, Andrew   25:05 Question 4 Hi Pete and Roger, Love the podcast. I have just completed my annual review (thanks for the checklist from earlier seasons) and was wondering if you can suggest if there is anything else I should consider or am missing to help position me better financially. For context I am 37 and married with two children under 5. Pension - I contribute to my workplace pension which is 4% and the company contributes 8% (their max). S&S ISA - I invest 5% of take home pay into two vanguard funds monthly. Children S&S ISA - I invest a small sum monthly into each child's S&S ISA, both vanguard target retirement funds for when they turn 21. Emergency Fund - I have 4 months expenses in a cash isa. Life cover - I have a private policy and 8x salary death in service benefit. Critical illness cover - I have both a private and work policy. Income protection cover - Again I have both a private and work policy, work policy is limited to 36months and private policy is to age 65. Mortgage over payments - I overpay the mortgage monthly with aim of reducing LTV and length of term when current fixed rate ends Debt - I have no major debt I think I am in a good position, but wanted to sense check in case I am missing something. Thanks and keep up the good work. Marc Annual Review: https://meaningfulmoney.tv/2023/03/01/simplify-your-annual-review/  28:22 Question 5 Hello to you both, I just wanted to say I really enjoy your podcast and your YouTube channel. My question relates to my Workplace pension. I want to move from the default lifestyled fund into a 100% global equity fund. I also have a SIPP and an ISA that are fully invested in the same global equity fund and I wanted to bring them all into line. I have a salary sacrifice scheme with a 5% employer match and I wanted to take full advantage of that by paying into a better fund. I can't fully transfer without losing the match so I have left it for too long. I am debt free including the mortgage and I have redirected my mortgage payment into my SIPP. My question is, at 47 3/4, is it too late to switch from the default fund? I'd welcome your take on that. Keep up the good work Kind regards, Matt   31:02  Question 6 Hello Pete and Roger, Really enjoy your podcast and find your advice really insightful, many thanks for what you do. My question is about pension planning and specifically about getting the balance right between pension contributions, ISAs and reducing my mortgage. I'm 46 and have saved from an early working age to build up a total pension pot amount of £510k as of today. I have prioritised my pension over other kinds of investments given the tax related attractiveness of pensions and use salary sacrifice as a way of keeping under £100k income - something important for us as a family in terms of qualifying for child nursery support, plus of course in maintaining my personal allowance. I find my job quite stressful and would like to be able to retire in 10 years at 57, or at least take on a lower paid (maybe even minimum wage) or part time role at that time for a few years until retiring fully. My assumption is that to be able to make this a reality it would be wise to build up my ISA, (which as of today totals only £15k), as a tax efficient bridge until nearer state pension age, and to minimise the need to drawdown excessively on my private pension in the early years. Assuming you concur, my question is would I be best to reduce my pension contributions to enable me to put more in my ISA?  Of course this would mean potentially losing/ reducing my personal allowance. The other factor in play here is my mortgage which is higher than I'd like at £380k. Ideally I'd like to increase my level of mortgage overpayments significantly in order to try to reduce the balance as much as possible over the next decade whilst working full time but again this will see me going over the £100k income level in order to do so.  I know I could probably clear whatever mortgage is remaining in 10 years from my tax-free pension amount but I'd like to minimise taking the tax free money in order to help the pot compound as much as possible to take me through to old age but also help support our two girls who are currently just 8 and 3 in their early lives. Your thoughts and advice would be gratefully received. Many thanks in advance and please do keep up the great work you do! Kind regards, Lee

Is renting really a waste of money?In this clip, we break down the modern property debate, discussing why renting isn't always a bad financial decision and why buying a house isn't always the smartest move either.We discuss mortgages, investing, savings, ISAs, property prices, financial flexibility and the psychology behind owning a home. We also explore why more young people are questioning traditional advice around buying property and whether investing money elsewhere can sometimes make more sense.A powerful conversation around modern wealth, financial freedom and the realities of renting vs buying in today's economy.

Geopolitics is back in the driving seat for markets as Middle East tensions shake energy prices, government borrowing costs climb and investors revisit whether ‘quality' shares are due a comeback. We cover the latest updates from Next, Novo Nordisk, HSBC and Diageo, and we speak to Hugh Yarrow of Evenlode Income on why sticking with quality businesses can pay off. Plus on the personal finance side: why cash ISA deposits keep rising, and the everyday luxuries people refuse to give up.   Timestamps: [01:19] Geopolitics and markets: Iran/Middle East developments  [03:44] Government borrowing costs: what's driving yields higher  [06:29] Next's latest results [09:56] Novo Nordisk and weight-loss drugs  [11:50] HSBC's profits fall  [13:17] Diageo's World Cup boost  [17:27] Interview: Hugh Yarrow (Evenlode Income) on investing in quality companies  [33:08] Fuel watch: the impact of oil-market tensions  [36:57] Cash ISAs soar in popularity [44:23] Cost-of-living: the ‘luxuries' people won't give up

Sean Standerwick opens up about building a wealth management business from £20 million to over £260 million, and the lessons learned along the way about money, discipline, and long-term thinking. What started as a traditional, hands-off advisory firm evolved into a modern, high-touch service built around ongoing relationships, smarter investing, and helping clients actually understand how to build real wealth. At its core, it's not just about numbers - it's about financial peace of mind, structure, and making better decisions early.But behind the growth is a much bigger conversation around the realities of money in the UK today. From rising taxes and shrinking allowances to the pressure on business owners and high earners, Sean breaks down how the landscape has shifted - and why so many people are unknowingly leaving money on the table. Simple habits like using ISAs, pensions, and tax-efficient strategies become the difference between stagnation and serious long-term wealth.Alongside this is a deeply personal journey - navigating a complex family management buyout, balancing business with life, and dealing with the emotional weight of taking over something built by a parent. What followed was a year and a half of intense negotiation, pressure, and growth - ultimately reshaping not just the business, but relationships and perspective.Now, Sean focuses on helping entrepreneurs and founders build wealth the right way - starting early, thinking long-term, and avoiding the common mistakes that cost people years. It's a grounded look at money, business, and the habits that quietly separate those who build lasting wealth from those who don't.This is the eventful life of Sean Standerwick. If you're a Founder and would like to come on the podcast then you can apply on the link here

In this podcast we discuss the decision by the major retailer John Lewis to withdraw from developing thousands of residential properties. Meanwhile, as thousands of small private lands quit the buy-to-let property, private equity firms and hedge funds continue to invest billions of pounds into the housing market. Watch full video: https://youtu.be/m5Aoqr4hquU New Tax Rise For Landlords In another blow long suffering UK landlords, Chancellor Rachel Reeves has announced a new higher rate of tax surcharge on rental income profits in her budget, which will see the tax burden rise to record levels. Buy-to-let landlords will pay a tax rate two percentage points higher than the basic and higher rates of tax from April 2027. Frozen threshold bands until 2030 means most of us will pay more tax due to ‘fiscal drag'. This is in addition to the hike in the stamp duty surcharge on second property purchases to 5%, which is having a detrimental effect on property development and flipping. Watch full video here - https://youtu.be/O38dvXPp22k Although successive governments seem to be doing their best to encourage the big corporate landlords and drive small landlords out of business (Section 24, licensing, increased red tape etc), they still need the estimated 2.8 million private buy-to-let property landlords. See interview with Chartered Accountant and Tax Specialist - https://youtu.be/aMuGs_ek17s What This Means for You These tax changes could reshape property investing, retirement planning, and asset strategies. If you're a landlord, investor, or homeowner, now is the time to review your capital gains exposure, inheritance planning, and use of ISAs before the 26 November Budget drops. #johnlewisproperty #propertyinvestment #section24landlordtax #moneytips #buytoletlandlord

Time for another Q&A episode where Roger & Pete answer questions on retirement planning, passing assets to children. SIPP vs ISA and much more! Shownotes: https://meaningfulmoney.tv/QA47  01:42  Question 1 Hi Pete, Roger, and Nick, Thank you for the podcast - I've been listening for a while but fell behind and just binged about 15 Q&A episodes over the last fortnight! There's nothing like listening to the podcast to get me fired up about my finances! I have a question about the upcoming change to minimum retirement age, and a question about how to use my SIPP versus S&S ISA post-55/57. I was born in February 1972 and so by my reckoning should be ok to access my SIPP at 55. However, I heard somewhere that access could be removed at the date the law changes, because I wouldn't be 57 by that date. Can you shed any light please? It doesn't make sense to me to grant access then take it away. The reason I'm asking is because I'm thinking that in the next year I should favour putting money into my SIPP for the tax relief instead of into my S&S ISA, since I can access it within a short time anyway if I really needed to. Once I'm 55, does it still make sense to put money in the ISA at all, given the SIPP will continue to have tax relief so long as I'm working? All the best and looking forward to the videos coming out! Chris 07:04  Question 2 Hi Pete & Rodger, My wife & I are both aged 55 & I plan to retire aged 60 possibly a little earlier my wife isn't sure exactly when she will stop at the moment. I currently have a work place Scottish Widows default pension lifestyle turned off £225,000 I pay in 31%, company pays in 4%, salary sacrifice I then occasionally move funds to my 100% equities SIPP low cost global index fund £442000. My wife has a small DB pension and 45,000 in a SIPP again all in equities. My plan is to retire at 60ish on the SW pension to bridge the gap to state pension age 67. Leaving the SIPPS invested in equities both in low cost global index funds. Possibly adding some bonds a few years out from state pension age. Currently 20k emergency fund cash isa and my liquid assets whisky collection. Do you feel I could improve my plan or is it reasonably sound? Kind regards, Lee.   12:48  Question 3 Hi Pete & Roger, I have a deferred DB pension which in 2018 (when it closed) I was told my annual pension at age 62 would be £18270. The pension is capped at CPI or 2.5% annually, whichever is lower. As such it is getting deflated by high inflation. As of today it's £21840. (With CPI it would be £23830 or even £26050 with RPI). I have a decent DC scheme to top it up but what can I do mitigate this decline with transfer out values currently quite low? Thanks for your advice. Richard   18:08 Question 4 Hello Pete and Roger, Firstly, thank you for your brilliant podcast - it really is absolutely fantastic. Since discovering it early in 2024, I've listened to almost every show! I love the way you both make complicated concepts easy to understand and often have me chuckling along at the same time! I have a question to you both about inheritance tax and a potential way to reduce, or even eliminate, its effects. I don't believe you have covered this particular strategy, so I'm very interested to hear your thoughts. Here's what I am thinking. My wife and I are both 43 and have two lovely children aged 7 and 9. We both work full-time in well-paid jobs and save a good amount into our pensions and ISAs, whilst also ensuring we 'live for today' by going on regular holidays and spending as much time as possible with the children (whilst they still like spending time with us!). Our rough combined financial position is as follows: - £1m in company DC pensions, contributing at a rate of about £85k gross per year - £350k in stocks & shares ISAs, contributing at a rate of £40k per year - For each child – £40k in Junior SIPP contributing at a rate of £3600 gross per year, and £10k in Junior ISA with no significant annual contributions - A house that is worth about £700k with £400k still to pay on the mortgage (remaining term 15 years) I am aware that it's very early to think about inheritance tax, and I know that rules in the future will very likely change. However, it's very conceivable to me that our children will incur a very significant IHT bill when we both shuffle off (to use Pete's phrase!). My "solution" to this is as follows. When our children reach the age of 18, rather than paying £40k per year in our ISAs, we will pay it directly into their ISAs. We will fund this either through earnings (I still love my job and envisage working well into my 60s), and/or from one or both of our pensions. When we are retired, we plan to take regular payments from our pensions up to point where we would start paying higher rate tax; this will hopefully allow us to live comfortably whilst also contributing to our children's ISAs. Any shortfall will be covered by our own ISAs. We will give this money to our children on the basis that it is still our money if we ever need it (e.g., care homes, massive holiday, Lamborghinis, etc). In other words, we will tell them that we will continue paying them £20k a year each provided that they do not touch it and have it available for us if we ever need it. With a bit of luck, we will never need it, and both our children will ultimately receive a substantial sum of 'inheritance' without paying any IHT. I appreciate there are some risks associated with this strategy. The two that I can think of are as follows. Firstly, there's a risk that we fall out with our children and lose control of the money. Secondly, if one our children marries, then divorces, then half of the money we've given them may disappear to someone else. This is definitely a concern. However, provided we are both comfortable with these risks, do you think this is a sensible method of transferring wealth to our children, and can you think of anything other considerations we need to think about? I'm probably missing something really important so it'd be great to hear your thoughts! Thanks again for your amazing podcast – I really do love tuning in every week! Thanks, Martin 28:19 Question 5 Hello gents, My question is this : if someone is looking to retire pre-state pension, and bridging that gap, what are the primary options available?  I've been looking at for example - fixed term annuity if rates are good; bond ladder (feel a bit overwhelmed on this); money market fund; bung it in a cash savings account. I'm assuming I want minimum volatility - is that the right approach to take? Richard. 32:18  Question 6 Hi Pete, Roger and Nick I have become an avid listener in the last three months, having just taken Voluntary Redundancy at age 63. I have benefitted hugely from your expertise and listenable style. Many thanks. I'm imagining that if you include this question in your podcast you might mention a tax tail wagging the dog. However, I don't want my dog to miss out on performing tax tricks. My question concerns whether I can take taxable income from my SIPP whilst leaving my tax-free lump sum untouched. I would then like to take the tax free lump sum at a future date to fund a home relocation. Is this possible?  The background is as follows: My DB (£40k) pension will kick-in at 65 (18 months to go) when I will also take a lump sum which I will place into my and my wife's ISAs. I have to do this at 65 due to scheme rules. So in the meantime we're living on my £100k redundancy pay which is sizeable enough to also fill our ISA allowances for 25/26 financial year. I will avoid higher rate income tax on this VR payment via a SIPP contribution. This means that our current and future 2 financial years ISA contributions will be full and I will also have a SIPP bumped up to £250k. However, it will also mean most of my VR pay will then be in SIPP and ISAs leaving us short on spendable income next year! But next financial year, being un-salaried, I will have the opportunity to take £50270 from my SIPP whilst limiting my income tax to 20%. This will then fill next years income gap. (Once I start receiving my DB pension I will find it harder to get the remaining SIPP funds out without paying 40% income tax as the state pension plus DB will then take me over £50270). I don't want the tax-free lump sum next year as I don't have a need for it until age 65 when we plan to relocate and I can't put it in ISAs because I've already filled them. So can I start taking taxable income but leave the tax-free lump sum in the SIPP where it currently performs the function of an ISA (ie tax-free growth). Alternatively, am I just being a bit silly and making life overly complicated? Your wise observations will be eagerly received. I have done my own cash-flow modelling in detail and this is just a simplified summary of the main facts. Once I am in the new routine post-65 then it'll become a lot easier, but these few steps in the dance over the next couple of years require a great deal of thought. Kind regards, Tom

Choosing your first stocks and shares Isa can be overwhelming. There are apps, brokerages and dozens of providers, all claiming to be the best. In this episode of Women and Wealth, funds editor Val Cipriani and personal finance editor Holly McKechnie walk you through how to choose the right one for you, whether you're investing for the first time or moving beyond cash savings.They explain everything from what beginners should look for, which fees really matter, the differences between providers and the common mistakes to avoid. This episode will get you started on the path of investing, with Investors' Chronicle your handy guide as you grow your portfolio.*At the time of recording, AJ Bell charged a trading fee for regular investing. The provider has since announced that this will be scrapped from May.Women and Wealth is the monthly podcast series from Investors' Chronicle. You can listen to and watch the episodes, alongside our other podcasts, on Apple, Spotify and YouTube.Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times. Hosted on Acast. See acast.com/privacy for more information.

In this Meaningful Money Q&A episode (QA46), Pete Matthew and Roger Weeks answer six listener questions on the financial decisions many UK households are wrestling with right now. We cover bridging the gap to the State Pension with fixed-term annuities, strategies for staying under £100,000 adjusted net income (and avoiding the 60% tax trap), and how LGPS "CARE" pensions work including whether salary sacrifice can reduce student loan repayments. There's also practical guidance for self-employed listeners facing a tough year and needing to cut costs, plus how to think about funding private school fees without derailing long-term plans. Finally, we discuss how to decide whether to take the maximum tax-free lump sum from a defined benefit pension, including the trade-offs and how to model the impact. Shownotes: https://meaningfulmoney.tv/QA46  02:18  Question 1 Hi Pete & Roger, I am a long-time fan of your podcasts, and I often sneak off during the day for some peaceful R&R and listen to your latest release or even go back on old shows. My wife and I are in the fortunate position that we have both retired but still have a number of years before the state pension will commence (6 years / 2 years). Our long-term plan was to build up our private pensions so that we would have a comfortable retirement but also be able to leave our two children a reasonable inheritance which has meant we have been reluctant to dip into our DC pensions too early. With the proposed changes to IHT bringing in the unused pension pots on 2nd death into the estate and on current projection we have in excess of £1m in DC pensions which unfortunately are heavily weighted in my favour to 80/20 and we both have a DB scheme each (circa 5K) which have been activated. My questions relate to fixed term annuity. To bridge the gap between retirement and receiving the state pension for my wife circa 6 years, I was considering looking at one of these to cover sufficient income to take her up to the personal tax allowance limit bearing in mind the annual DB income. My dilemma is where or how best to fund this. Can we or do we use our personal savings? Do we use my wife's DC pension in part? Can I use my own DC pension, but any withdrawal would be subject to 20% tax rate so not a preference even if allowed? As part of my look into these fixed term annuities, there also seems to be an option to have guaranteed cash return at the end of term.  Is there any sense in considering this as it would require a bigger investment or withdrawal?  Would this cash also be tax free or would it be income and added to your existing income stream? It would seem to me that if I wanted to reduce the pension pot differential but ensuring the tax payable was only 20%, then I could either max my withdrawal requirement annually or consider the annuity route but this could be complicated with my state pension commencing 2027? Should I be hung up on the pension pot differential values between us and does the IHT rule of the couple's tax-free limit being £650,000 nil rate ignore where the money originates.  This pension pot differential must be quite common, do you have any other comment or suggestions that would be helpful. I, like many of your listeners enjoy your banter and how you impart knowledge to the wider audience for their better good – a big thank you for this. Best Regards Brett. Meaningful Academy Retirement Planning 11:04  Question 2 Hi Pete & Roger, I'm a big fan of the podcast — thanks for all the clear and practical advice you share each week. My base salary is about £76k, but with shift allowance and a car allowance my total package is closer to £90k. On top of that, I can earn overtime (which is unpredictable) and I also get a discretionary bonus of up to 20% of base salary. The challenge is that we don't find out the actual bonus figure until the end of March, but if we want to waive it into pension we have to decide in advance — so it's guesswork. Without any planning, the bonus can push my adjusted net income over £100k, which means I start to lose my personal allowance and fall into the so‑called "60% tax trap" between £100k and £125k. At the moment, I already have several salary sacrifices in place: – Pension, Holiday purchase, Share Incentive Plan (SIP). I'm now considering adding an electric vehicle through salary sacrifice, which would reduce my taxable pay by about £10.5k a year. That would keep my adjusted net income below £100k, but it obviously reduces my monthly take‑home. I'm 29, so I don't mind putting a bit extra into my pension for the long term, but I don't want to over‑commit too early and lose too much cash flow now. In the next year or so, my wife and I are also planning to have children — which adds another layer, because if my income goes over £100k we'd also lose access to childcare perks. I know there are worse problems to have, but I'd really like to maximise my take‑home pay without losing benefits and while staying as tax‑efficient as possible. So my question is: how should someone in my position — with variable overtime, an uncertain bonus, existing salary sacrifices, and family planning on the horizon — think about the £100k threshold, the 60% tax trap, and the personal allowance taper? And more broadly, how should PAYE employees balance lower monthly net pay against the tax efficiency, taper protection, and childcare benefit eligibility that salary sacrifice schemes can provide? Many thanks. Lewis. 19:48  Question 3 Hi Pete and Rog I'm 28 and my fiancé is 26 so we're at the early stages of building our empire. The knowledge and insight I've picked up from listening to you over the past 12 months has been a massive help, so thank you! My financial situation is fairly run of the mill: a  Salary Sacrifice DB pension with a 6% employer match, early days Stocks & Shares ISA, emergency fund etc. However my Fiancé works for our local council and has a DC pension titled "CARE". From what I can understand, this means every year she works, she builds up an amount, that yearly amount tracks inflation up to retirement, then at retirement all those revalued yearly amounts are added together to give her a guaranteed annual income for life. To my question! Firstly, is my understanding correct, or is there anything I'm missing? And secondly, is there a way of playing with her percentage pension contribution to lower the amount of student loan she has to pay back? Bonus question: I've just finished Q&A Ep31 and caught wind Pete had a beer - what's your tipple of choice? Always thankful for each episode and video you provide! Thanks, Tom   24:23 Question 4 Hi Pete and Rog Long time Facebook group, podcast and you tube fan, asking a question that I haven't heard answered yet. I am self employed, and have been for 12 years now. 2025 has been an unexpectedly difficult one in my industry with corporate customers cancelling projects and budget cuts, and individual clients feeling uncertainty. How can I make hard decisions about cutting back on my business and personal expenses, whilst also staying as positive as possible about the future? My turnover is down about 30%, with a knock on effect on my income. I've stopped investing in my pension as the business isn't making enough profit to do so, and am now looking at cutting back on business expenses like the subcontractors I book to work with me and marketing (which I've held off doing hoping income will recover). Meanwhile I took on many personal expenses that feel very hard to cancel like private health cover for my family, income protection insurance, gym membership, kids sports clubs and their  orthodontist treatments - all totalling £6-800 pounds per month. I'm not sure where to start! Thanks for considering my question. Best Wishes, Lara   31:40 Question 5 Dear Pete and Roger, Loving your podcast. I can honestly say listening to it has transformed my relationship with money and investing. My husband used to do all the money management alone and seems thrilled I've finally shown an interest... Short version: - She 39, he 44 - Her - late starter due to Uni and maternity - now profits of £60pa self emp - He has £50k pa accrued in DB scheme plus AVCs - maxing contributions - He sacrifices to stay below £100k - ISAs - they don't say how much As the children are approaching secondary age and with some SEND issues in the mix we are looking at all the options including fee-paying independent schools. Luckily with the age gaps we have we will only be paying for two kids at any one time and grandparents are stepping in for eldest. This is costly, but I think doable for us as we're quite frugal people anyway. I'm now working out how best to fund this. If we reduce our pension contributions we will lose huge amounts to tax and student loan deductions (in my case) - 62%/47% (him) and 51% (me) will be deducted and we'll lose the childcare funding for our toddler which will be a massive blow. Would it be mad/bad to release some equity from the house, enjoy this money now and pay this off with a pension lump sum when we can access it? I feel that it would be absolutely mad to retire with far more than we need, whilst our children missed out but also mad to miss out on the tax relief. I'm really interested in your thoughts and if there are other ideas? We have just a few years to prepare and ideally I'd like some flex or contingency in any plan. Could an offset mortgage be useful here? I could go full time but I don't want to miss out on raising the kids so this would be the last resort. It just feels like a cash flow issue that needs some planning for. HELP! Thank you for reading, fingers crossed I've got all the vernacular right and haven't caused any confusion. Take care and best wishes, Annie   36:58  Question 6 Hi Nick…Roger…and the other guy!  I'm an avid new listener having read and loved Pete's retirement book and binged on your podcasts. I'm loving what you do and how you do it, and have recommended you widely.  My question relates to how I judge the amount of tax free lump sum to take from a DB scheme. It feels wrong to convert inflation-protected DB pension into a lump sum, but I'm thinking of taking the maximum and wonder if I'm being foolish. I could take my £40k DB in 18 months or could reduce this to £26k for £190k lump sum with a commutation factor of 14. The spouses pension is maintained at 50% of the unreduced pension (ie £20k) even if I take a lump sum. Nice! My wife will also have a £6k DB at same retirement date. We will both receive max state pensions 2 years later. We also have SIPPS and some ISAs and I am confident that these non-DB funds will see us through to state pension age with good margin. My budget shows we will need up to £60k PA spend for very comfortable retirement. £40k PA to cover basics. If I didn't take a lump sum then we have £40k (DB) + £6k (wife DB) + £24k (SP) = £70k income. This works. But as I say, I actually think I should take a max £190k lump sum… This would mean £26k (DB) + £6k (wife DB) + £24k (SP) = £56k total index linked, which works out at £49k after tax.  The additional £11k PA will be easy to provide from the  invested lump sum. But the real reason to take the max lump sum is to manage the risk of me being first death. If/when that happens then my wife has £20k (spouse DB)+ £6k (her DB) + £12k (SP) = £38k index-linked income, or £33k after tax. I think she'll need to find £15-£20k PA from the invested lump sum to stay comfortable. This feels more borderline, especially as she has little natural affinity for investing and may be better buying an annuity.  It seems to me that I would be wise to take the full lump sum to best provide for my wife should I die first (statistically the most likely). This matters a lot to me. Is this reasonable thinking? Or is there a way of judging an in-between lump sum? With kind regards, Tim  

Energy bills are in the news and this may be a crucial moment. In this podcast Martin explains the Energy Price Cap, and the firms offering fixes cheaper than the Price Cap.It's a new tax year, and that means all UK adults have a new £20,000 tax-free ISA allowance to use. Martin runs through your options of where to put your money.Martin explains why a change on council tax debt collection which will mean vulnerable people will have more time and support to settle their outstanding council tax bills has put him in a good mood.Listeners Tell Us about financial mistakes that turned out to be a good move.And will Adrian get this week's Money Mastermind? This week the question is about savings interest.If you want to ask Martin a question, you now can! His Question Time podcast lets you ask Martin absolutely anything and everything (within reason!) – so if you've always wanted to know what colour his eyes are, what he's planning to do in his eventual retirement, or have a very complicated question about your personal finances, email it to MartinLewisPodcast@bbc.co.uk.

In this episode of the MeaningfulMoney Q&A, Pete and Roger answer six listener questions covering a wide range of personal finance topics. We tackle a tricky inheritance tax situation involving a property bought in children's names, look at pension and ISA options for a daughter likely to spend her career working outside the UK, and offer some perspective on balancing financial sensibility with life's genuine passions. We also cover whether a minimal LISA contribution strategy actually works, how to manage the transition from 100% equities to a retirement asset allocation in the years before you stop work, and what income protection options exist for a young professional wanting to guard against long-term illness or injury. Shownotes: https://meaningfulmoney.tv/QA45  02:20  Question 1 Hello Peter and Roger (without a D) I am so pleased I discovered your podcast a few months ago, since then your words of wisdom accompany me on my daily dog walks and I have become the annoying older colleague in the office telling the younger colleagues about the power of compounding and contributing to the pension scheme. I have a rather unusual query I would really appreciate your view on and maybe the potential pitfalls we are experiencing would be of interest to other listeners as I have read lots of questions on-line about potential benefits of putting property in children's names. My parents retired to Spain 25 years ago, they cash-purchased a UK flat for when they come back 10 years ago. In a bid to avoid inheritance tax they bought this in mine and 3 siblings names (all in our late 40/early 50s). They did not seek professional  advice, just assuming it was the right thing to do, which could be the morale of the story. Sadly my Dad recently died and as executor of his will I have been looking into the UK assets. I realise now that this cunning plan does not work, as they regularly stay in the flat without paying rent. Therefore, it is classed as gift with reserved benefits and still included in the estate. However this is not an issue as they are well below the IHT threshold. The question I have relates to the future financial position that I think they have inadvertently created. My mum wants to sell up in Spain buy a house in the UK and then either rent the flat for some more income or potential sell it. But how does this work if the property is in our names? Can she legitimately take rent (with our permission) without it having income tax implications on us (I am higher rate so do not want this!). If she wants to sell it I assume it will be sales to us siblings so we will pay capital gains (but what rate? we are a mix of tax brackets and one of my sisters doesn't own another house.) She says she might be best just transferring into her name, but I don't think it will be that easy and we will still be liable for capital gains as it will effectively be a sale to her. Is there something we have missed here and is it something we should be concerned about? Or is it OK to leave as is and let her keep to draw down income. Could it be the right thing to do and having the property in our names be simpler to resolve when she dies? I am hoping your soothing Yorkshire/Cornish tones can reassure me all will be OK. Vicky a faithful listener.   11:24  Question 2 Hi Pete and Rog I only discovered the podcast fairly recently, but have been following your web-based lessons on Meaningful Money for a while (and have read the books). I am really loving the podcast - so many back episodes to listen to! Super-informative, and your dulcet tones are also very soothing! My question is to do with advice for an adult child who is likely to spend her career working outside the UK. My husband and I are both late 50s and technically have reached FIRE (years of finance-nerdery despite relatively low incomes) but I am still doing consultancy because I quite enjoy it. Our older three children are all getting established in their careers, and I've brainwashed/ educated them in the ways of financial sensibleness, so they're all set up with emergency funds/S&S ISAs/employer pensions/SIPPS. Our youngest daughter is studying at university in Poland (the kids and I all have dual Polish/UK citizenship, as my mum was Polish). This means my daughter can work anywhere in the EU, and although she will always have strong ties to the UK, it's looking as if she is more likely to work outside the UK once she graduates in summer 2026. This opens up a whole new world of options in terms of setting her on a path to financial security, and there's quite a lot of conflicting information  - I would really appreciate some input on what are likely to be the best options for someone in this situation. At the moment she's 'ordinarily resident' in the UK, on the electoral roll etc., but doesn't have any UK income. Can she make pension contributions in the UK even if she's working elsewhere? I assume she still has an ISA allowance if she's a UK citizen working abroad, but a LISA would make less sense if she's not likely to buy a UK property? I am self-employed via a limited company and she has occasionally done bits of tech support for me, so she could register as self-employed in the UK and bill me for that - would that count as UK employment? My accountant is super-scrupulous, so I'm not interested in anything that might be sailing even vaguely close to the wind in HMRC terms. I would appreciate any thoughts on this perhaps slightly non-standard situation, although I assume there must be quite a few other people out there with dual UK/EU citizenship who might be facing similar questions? Many thanks, Felicia 19:06  Question 3 Dear Pete and Roger. I listen to your podcast all the time and it keeps me right. It has really helped me navigate my financial literacy or lack thereof. I am now in a situation where I have much better understanding of what I need to be doing with my money, and have made sense of all financial decisions such as paying into my workplace pension, owning my own home, and I have a recently paid job and some side projects which earn me a little. My question is, I think, a search for a validation of my life choices! Basically, despite having a good job and owning my own home outright, I am still struggling to budget every month. This is because I have made a terrible financial decision of owning two horses. These horses are my pride and joy, but the financial strain of it does make me feel guilty in terms of the distribution of spending between me and my husband. I spent about 600 a month on the horses, give or take a bit each month. Do you have any words of wisdom about how to balance being sensible with money Vs 'investing' in my life passions? I don't think I'll ever give up the horses, so it's more about whether I continue to stress about it or not. Many thanks for your wisdom as always Josie   25:20 Question 4 Thank you for all the great content! I have a LISA question for the podcast in relation to my 25 year old son? He currently lives with me in SW London and is saving to buy his own place. I love having him stay and I am in no rush for him to move out. He/we decided not to go with a LISA because he is likely to buy a property in or around London and we are concerned about the £450K cap which I believe has remained fixed since 2017. He is very motivated, ambitious and hard working and has already had several promotions with an opportunity to work in the US next year. He has already saved £50K for a deposit and I intend helping him too. He is not in a rush to buy as it feels like the property market is no longer running away from him.  He told me he thinks it makes more sense to enter the property market on the second rung of the ladder rather than the first as it costs so much to move with stamp duty, fees etc. So perhaps a 2 bed in a nice(ish) area rather than a starter home (and renting the second bedroom to a friend). I think I agree with him, especially if he ends up working in the US for an unknown period of time.  A 2 bed in a nice(ish) area where he actually wants to live would cost more than the £450K cap which is why we are reluctant to use the LISA for saving for his first home (I understand it can also be a pension investment but he is already contributing to his workplace pension). However, I have in my head a bug that says he can put minimal contributions into a LISA each year (say £5) which he could top up retrospectively if he changes his mind and does find somewhere to buy for under £450K. Am I correct? Your thoughts would be much appreciated. Michelle 29:04 Question 5 Hi Pete and Roger Thanks so much for all the work you do, I've only found the podcast recently but already enjoying learning more and thinking about things differently. My question relates to saving for retirement and specifically the period leading up to retiring.  Nearly all of our (mine and my husband's) pensions are in SIPPs where we have been happy to be 100% equity, in global index funds. We are now maybe 7-10 years from the point where we could retire, and I've been able to research withdrawal strategies to the point where I'm confident managing that when we get there.  We have determined our target asset allocation split between equities / bond funds / individual gilts and money market funds for the start point of retirement. I haven't been able to find much information about the period of transition from 100% equity to the asset allocation we want in place for the start of retirement.  Obviously it's a balance between reducing exposure to volatility as we approach retirement and accepting a drag on the portfolio caused by the increasing allocation to cash and bonds and my instinctive (but not evidence-based!) approach would be to gradually move from one to the other over a number of years. So my question is this - is there a better approach than just a straightline shift from one to the other?  How far out from retirement is it appropriate to start making the transition?  The best advice I can find online is just to pick whatever makes you feel comfortable and do that but surely there must be some more robust guidance out there?  I appreciate it might not be a one size fits all answer but would appreciate your thoughts on how to approach this. The one piece of advice I do seem to have found is that however we decide to do it, to stick to a predetermined schedule to avoid temptation to try to time the market - does that sound sensible or have I missed the mark on that? Thanks so much for any help you can give. Fran   35:26  Question 6 Hey Pete & Roger, Thank you for the great podcast! I have a question about income protection insurance. I'm quite young (25 - probably among your youngest listeners!), no dependents, renting with my partner, and am fortunate enough to have a well paid job and a promising future career. I recognise that my biggest asset is my future earning potential and would like to protect that in case of the worst. I have a 6 month emergency fund, healthy amounts (for my age) invested across ISAs and pensions, and my work offers 50% loss of income protection for accident or illness for 3 years, which is all great. My question is - to what extent should I think about trying to protect against the tail risk of not being able to work for >3 years, possibly till pension age? This is of course quite unlikely, but would be very detrimental if it were to occur - the exact sort of place where insurance would make sense. However I can't seem to find any insurance policies with such a long deferral period and I can't "double up" by having a shorter referral period. So, do such products exist, and if not are there any alternatives other than just accepting that risk and re-evaluating if and when my circumstances change? Is this even a reasonable risk to be thinking about, or is it overkill? Is there anything I should think about that I may be missing? Many thanks, Sarah *Affiliate - https://meaningfulmoney.tv/lifesearch 

With NASA's Artemis II mission sending humans around the Moon for the first time since the 70s, we're bringing back one of our favorite episodes from 2024. The Krewe sat down with Dr. Kate Kitagawa of JAXA for a fascinating look at Japan's role in the global space race: from SLIM's pinpoint lunar landing to Japan's partnership in the Artemis program and beyond. If the Moon is on your mind right now, this one's for you. ++++++ OG Show Notes ++++++ Prepare for lift off as the Krewe sits down with returning guest Dr. Kate Kitagawa of JAXA to look deep into the past, present, and future of Japan's space program! From pencil rockets & SLIM landers to international collaborative efforts, discover Japan's role in exploring the far reaches of outer space. ------ About the Krewe ------ The Krewe of Japan Podcast is a weekly episodic podcast sponsored by the Japan Society of New Orleans. Check them out every Friday afternoon around noon CST on Apple, Google, Spotify, Amazon, Stitcher, or wherever you get your podcasts.  Want to share your experiences with the Krewe? Or perhaps you have ideas for episodes, feedback, comments, or questions? Let the Krewe know by e-mail at kreweofjapanpodcast@gmail.com or on social media (Twitter: @kreweofjapan, Instagram: @kreweofjapanpodcast, Facebook: Krewe of Japan Podcast Page, TikTok: @kreweofjapanpodcast, LinkedIn: Krewe of Japan LinkedIn Page, Blue Sky Social: @kreweofjapan.bsky.social, Threads: @kreweofjapanpodcast & the Krewe of Japan Youtube Channel). Until next time, enjoy! ------ Support the Krewe! Offer Links for Affiliates ------ Use the referral links below & our promo code from the episode! Support your favorite NFL Team AND podcast! Shop NFLShop to gear up for football season! Zencastr Offer Link - Use my special link to save 30% off your 1st month of any Zencastr paid plan!  ------ Past Episodes with Dr. Kate Kitagawa ------ The Age of Lady Samurai (S01E12) ------ Links about JAXA & Dr. Kate Kitagawa ------ JAXA (English) on Twitter JAXA (Japanese) on Twitter JAXA on Instagram JAXA (English) on Facebook JAXA (Japanese) on Facebook JAXA Website (Japanese) JAXA Website (English) ISAS (English) on Twitter ISAS (Japanese) on Twitter ISAS on Instagram JAXA on YouTube JAXA Space Education Center Website (English) MMX Game Lunarcraft Game SLIM The Pinpoint Moon Landing Game Kate's Book "The Secret Lives of Numbers" Kate's Website ------ JSNO Upcoming Events ------ JSNO Event Calendar Join JSNO Today!

Dan Lane, lead analyst at Robinhood UK, joins us for a wide-ranging conversation on markets, money, and the future of investing in Britain.We open with the big macro picture, examining what the latest volatility in the Middle East means for equities and how investors should think about interest rates and inflation in an uncertain geopolitical environment.From there, we turn to the UK investing environment. Dan gives his honest take on whether Britain has a cultural problem with investing, how younger generations are approaching the stock market differently, and what still needs to change.We dig into ISAs and why so many people leave their annual allowance untouched, the most damaging myths Dan hears regularly, and his verdict on whether government policy will actually shift behaviour.We finish with a look at how AI is transforming what retail investors can do today versus five years ago, and the most exciting applications Dan has seen emerging in the space.We close on UK-listed companies. We ask whether Dan is optimistic or pessimistic right now, and if he had fresh money to put to work in one corner of the UK market today, where would it go? Hosted on Acast. See acast.com/privacy for more information.

The financial guillotine is falling on April 6th, and if you haven't moved your money, you are essentially handing a tip to the taxman.  In this high-stakes breakdown, Rob reveals the urgent "Save and Never Touch" strategies used by the elite to shield their wealth within the UK's complex financial system. From maximising your £20,000 ISA allowance to exploiting the massive £60,000 pension tax break, this episode is a tactical masterclass in compounding your way to millionaire status while ruthlessly cutting bad debt and ghost subscriptions.  Don't let the new tax year catch you empty-handed! It's time to audit your life, pay yourself first, and turn the system's rules into your ultimate unfair advantage. BEST MOMENTS "The one rule for compounding is never interrupt it. If you have to keep paying your taxes, that would essentially erode the amount of money that's compounding." "Most people, they pay Netflix first, and their gym membership first, and the taxman first... and them last. You need to change that and you need to pay yourself first." "One day, you'll be able to turn on the income and potentially live off the income just from your ISAs... the point to 'Save and Never Touch' is you never touch the capital, and then one day, you just live off the income." Exclusive community & resources:   For more EXCLUSIVE & unfiltered content to make, manage & multiply more money, join our private online education platform: Money.School → https://money.school   And if you'd like to meet 7 & 8 figure entrepreneurs, & scale to 6, 7 or 8 figures in your business or personal income, join us at our in-person Money Maker Summit Event (including EXCLUSIVE millionaire guests/masterminds sessions)  → https://robmoore.live/mms 

UK Dentists: Collect your verifiable CPD for this episode here >>> https://courses.dentistswhoinvest.com/smart-money-members-club———————————————————————Interest rates have spooked a lot of dentists into hitting pause on practice ownership, but that pause can quietly become a habit. We talk through a calmer way to think about buying your first dental practice in the UK, using the lens lenders actually use: long-term serviceability, realistic stress-testing, and the underlying performance of the practice itself rather than a single base-rate snapshot.Kevin, a specialist dental finance broker, shares what he has seen in the market over the last few years, including why first-time buyers all but disappeared when rates rose and why goodwill values softened at the same time. We dig into the idea that a practice purchase is usually a 15 to 25 year commitment, so “waiting for the perfect rate” can be the wrong game. If the numbers work today, banks typically model affordability at higher rates anyway, and the real question becomes whether the practice can fund the debt and still pay you what you need.We also get honest about what new owners struggle with most. It's often staff, leadership, and the first-year reality that you may earn less while you stabilise and grow the business. From there we move into practical funding detail: longer goodwill terms, renewed bank appetite, and when 100% finance is possible, including how loan term choices can matter more than small rate differences. We finish with what lenders look for in your personal finances, CV, and “background assets” like property, ISAs, pensions, or cash, plus what changes when you buy a second practice and how you split your time.If you found this useful, subscribe for more UK dentist finance and practice ownership conversations, share it with a colleague who's thinking about buying, and leave a review with the one question you want answered next.———————————————————————Disclaimer: All content on this channel is for education purposes only and does not constitute an investment recommendation or individual financial advice. For that, you should speak to a regulated, independent professional. The value of investments and the income from them can go down as well as up, so you may get back less than you invest. The views expressed on this channel may no longer be current. The information provided is not a personal recommendation for any particular investment. Tax treatment depends on individual circumstances and all tax rules may change in the future. If you are unsure about the suitability of an investment, you should speak to a regulated, independent professional. Investment figures quoted refer to simulated past performance and that past performance is not a reliable indicator of future results/performance.Send us Fan Mail

In this podcast Martin explains everything you've ever wanted to know about ISAs but were afraid to ask. Cash ISAs, shares ISAs, how to transfer, how much you can put in, best buys for cash, and top picks for investments.Chartered Financial Planner Ed Marshall also joins Martin to help with stocks and shares ISAs.There is an update on the potential energy bills crisis brought on by the conflict in the middle east.The Tell Us is asking about the best £1 you've ever spent.And there's Money Mastermind, this question is all about savings interest.If you want to ask Martin a question, you now can! His Question Time podcast lets you ask Martin absolutely anything and everything (within reason!) – so if you've always wanted to know what colour his eyes are, what he's planning to do in his eventual retirement, or have a very complicated question about your personal finances, email it to MartinLewisPodcast@bbc.co.uk.

Pete Matthew and Roger Weeks cover self-employed saving rates, inheritance tax and estate planning, and how dividends are treated inside pension drawdown (including SIPPs). They also discuss salary sacrifice and contribution limits, the pros and cons of recycling tax-free cash, and whether to overpay your mortgage or invest via a Stocks & Shares ISA. Shownotes: https://meaningfulmoney.tv/QA42  01:07  Question 1 Hi Pete and Roger, Thank you for your amazing podcast! My question is about budgeting & savings percentages: Should you aim for a % of your gross pay or your net pay when it comes to aiming for a savings percentage? e.g. Invest 20% of gross or net? I'm self employed and work contract to contract. From each contract payment I have to give 25% to agents and lawyers. Then I get paid the rest and have to put aside some of the money ready for the Tax man. When planning for how much I should save / invest from each contract payment should I be putting aside: 20% of the original contract amount? (which would be prior to the agents taking their cut and prior to the tax man taking his cut?) 20% of the amount left after the agents but prior to the tax man? Or 20% after both the agent cut and tax man cut? Thank you! Isabel 05:50  Question 2 I am a 70 year old widow with no children.  My current net worth is about £2 million. This is made of of a house (£500,000), savings and investments (£1,150,000) and a drawdown pension pot of £350,000 which I inherited from my husband.  My husband died aged 68 so the pension pot is currently tax free. I plan to leave our inheritance tax free allowances of £650,000 to family, mostly nephews and nieces and the reminder to charities.  The drawdown pension will also go to named family members until the rules change in 2027 after which this will also go to charity.   I understand that this would mean my estate wouldn't be subject to inheritance tax.  Am I right about this? Is there anything I might not have thought about or any flaws in my thinking? Thank you for your very informative podcast, Susan 08:24  Question 3 Hi Pete and Roger,  I'm still catching up on the back catalogue and am still loving the show, the listener questions are a great alternative, absolutely brilliant :) My mind has been wandering as it usually does, and this time thinking about my retirement plan and what dividends will look like at retirement. I have some queries I would love you to clarify please if possible. As it stands I have a combination of SIPP and stocks & shares ISAs all globally diversified with various stocks and ETFs etc and also a NHS DB pension.  I'm about to turn 49 and planning on a retirement at around 60. I'm trying to plan in the most tax efficient way (obviously this may change with future governments). For now though I am trying to max out my ISAs regularly for the tax free benefits and in particular focussing on a goal of using global ETF high yield dividends as income  annually at retirement. I have a Vanguard SIPP with 3 ETFs. I plan to take the 25% tax free amount from this when I retire. The rest (75%) I plan to leave as is, in the same ETFs and as they will hopefully still be paying dividends, I am a little confused as to how these will be regarded, such as for tax purposes? My assumption is the dividends will be added as cash to my now 75% remaining pot and then if I start to drawdown on this then I guess I will be taxed as normal depending on my tax status at the time only on what I drawdown as income. However when the dividends are added to my drawdown (75%) portfolio will this be part of my annual tax free (currently £500) dividend allowance OR will they not count as they are in my "pension pot" (and not classed as income) as is the case currently pre-retirement? At the present should I actually be adding the dividends that I currently receive in my pension pot to my annual tax free allowance (£500 for me)? (I assumed dividends in a SIPP don't need declaring/adding up towards your annual tax free dividend allowance). I hope that all makes sense? Thanks for all your work with the podcasts and Listener Questions too, you guys are awesome! Cheers lads, Jon 13:22 Question 4 Dear Pete and Roger, I've just turned off lifestyling on my pension thanks to your excellent podcast and videos. You may have saved me thousands so many thanks! I now have a cunning plan! I work for a university and have a hybrid pension with the Universities Superannuation Scheme (USS). Payments for my regular defined benefit (DB) pension are made via salary sacrifice. I'm also making additional voluntary contributions to the defined contribution (DC) part of USS, also by salary sacrifice. I've increased these DC payments to a level where my reduced effective pay is just above the level of the National Living Wage. As all my USS contributions, DB and DC, are made by salary sacrifice, they count as employer contributions. As I understand it, I am also allowed to make employee pension contributions to an entirely separate SIPP up to the full level of my Relevant Earnings, which in my case is my salary alone. Is that correct? If so, am I allowed to make employee contributions up to the level of my original salary (before salary sacrifice reductions)? Or am I only allowed to make employee contributions up to the level or my reduced salary (after salary sacrifice), just above the level of the National Living Wage? Is my plan a sound one or is it a cunning plan worthy of Baldrick? I'm 54 years old and a basic rate tax payer with a salary of about £37,000 per annum. I do not expect to be promoted. Simon 17:56  Question 5 Hi Pete and Roger, Long time listener and watcher on YouTube and think it is absolutely wonderful all the free good advice you put out there. I hope you give yourselves a pat on the back for helping so many people build their wealth and no doubt have a better future in their latter years than they would have had without you. As I reach a certain age I am pondering a strategy and was wondering if you could advise if this is a flawed approach, letting the tax tail wag the dog or perfectly valid. I've never heard anyone suggest it and can't believe that I have an idea that experts haven't thought of. It involves recycling tax free lump sums from an existing DC pension. My understanding is that you have to "break" ALL the conditions to breach the recycling rules and the one I am considering not breaking is "tax free lump sum is less than £7,500 in any 12 month period". The idea is this: - Crystalise 30K. £22.5K into a drawdown pot and left untouched so as to not trigger the MPAA. £7.5K tax free cash withdrawn - Take the £7.5K tax free cash and recycle it into a new SIPP - Benefit from 40% tax relief to gain an additional £5K - Do the same a year later and repeat until actual retirement If I did this for the 10 years between first accessing my DC pension and retiring from employment at state pension age that's an extra £50K "free". The only downside I can see is that by crystalising you remove a portion of your existing DC pot from being able to have a 25% tax free slice of a bigger pie in the future. However I would have thought by putting the tax relief and tax free cash into a new SIPP, plus 25% of that total being tax free second time around when withdrawn, it would outweigh the downside, particularly if you think you're going to be a lower rate tax payer in actual retirement. Any thoughts gratefully received. Keep up the great work and fantastic content. Kind Regards, Tom 24:40  Question 6 Hi Rodge & Pete Love the energy of the show, both educational and also very funny one of my favourite financial podcasts! I recently purchased my first home solo at 35 on a 39 year mortgage term which takes me above the standard retirement age and I do hope I am not working full time by the age of 74. I went with the longer mortgage term to keep monthly costs down initially with the plan to possibly review this when my fixed term comes to end in 2030. I contribute monthly to my S&S ISA currently £200 with the plan to double this in 2026 but should I be diverting some of these funds instead to overpay the mortgage? I'm conflicted about this as I believe I will get better returns on the S&S ISA over the 39 year period vs saving interest on the mortgage. I currently contribute to my employer DC pension and also have a fully funded 3 month emergency fund so any spare cash can be put to work for my future. Thanks, Chantelle  

Markets have been rocky, energy prices are moving, and the tax year end is approaching fast. In this week's Money & Markets podcast, we break down the latest market news, what's happening in the Middle East and energy markets, and why ISA season could be more important than ever for investors.  We also look at Persimmon's results and why Domino's might offer a rare bright spot, plus practical tips on staying calm when markets are volatile. And with the tax year deadline approaching, we answer your most common ISA questions – from lump sum investing to flexible ISAs and avoiding last-minute mistakes.  You'll also hear where ISA millionaires are investing right now, and a quickfire round of ISA myths vs facts to help you make smarter decisions before the deadline.  If you enjoy this episode, please like and subscribe.     01:22 Middle East tensions & energy market moves  06:51 Persimmon results - UK housebuilders update   09:22 Domino's results – volumes fall on tough conditions  12:02 Inside the latest issue of Shares magazine  14:38 How investors can stay calm in volatile markets  20:26 Personal finance implications of market turbulence  23:40 Dividend tax changes from 6 April explained  25:44 ISA millionaires – where they're investing now  31:35 ISA Q&A: your questions answered  41:54 What's coming up next week 

Today on the show - Jemma Slingo joins Ed Monk to discuss what each of them are putting in their ISAs this year. Ed Monk is joined by Tom Stevenson to provide a well-balanced take on the latest financial developments together with expert insights to help you grow your capital, manage your investment portfolio and make the most of the money markets. Popular for its jargon-free approach, clear analysis and fresh perspective, The Personal Investor podcast helps shine a light on the latest market developments for the savvy UK investor.See omnystudio.com/listener for privacy information.

In this Meaningful Money Q&A, Pete Matthew and Roger Weeks answer listener questions on UK personal finance, focusing on pensions, tax, and planning ahead. Topics include SIPP vs Lifetime ISA, retirement drawdown and which accounts to spend from first, Junior SIPPs, gifting company shares (IHT and CGT), and UFPLS vs drawdown.   Shownotes: https://meaningfulmoney.tv/QA41    01:47  Question 1 Hello Pete, Roger and team. I'd first like to say thank you for all the wonderful information you provide, it has been a great aid for increasing my financial intelligence and helping me secure my family's financial future. My question is regarding the benefits of a SIPP vs a LISA in terms of retirement. My understanding is they both benefit loosely from the same boost. 25% Boost for LISA and in effect 25% boost to a SIPP due to the 20% tax relief as a basic rate tax payer? They are both locked away for a long period and are both released early if I was to suffer from any serious ill health or death? Due to this is there any benefit I am overlooking in terms of a SIPP over a LISA invested in a world wide fund? Other than age of access? I am currently 36 and due to the increasing demands of public finances it would be logical to assume a possibility of the state pension age being raised above 70 (above 60 if taken early) or becoming restricted to who can collect (means tested) before I am to reach pension age. Whereas I would be able to claim a LISA at 60 regardless with the added benefit of it not being subject to tax? I have a generous company pension of 6% personal and 13.7% company contributions with an additional 1% matched salary sacrifice. I also put in an additional unmatched personal 3% contribution.  As well as a small military pension. so I would not be without a pension at retirement. Due to this is it worth hedging my bets by maxing my LISA contributions rather than a SIPP to cover potential future scenarios? Apologies for the long winded question and I hope it makes sense. Thank you, Adam   08:42  Question 2 Hello Pete and Roger! Thank you for your wonderful podcast, I started listening several years ago and have found your advice incredibly useful. I am here to ask a question about planning a future for a disabled child. My husband and I are in are late 30s and we have a 5 year old daughter who is autistic and has profound learning difficulties. The challenge we have is how to plan for her future care and our future careers with so much unknown.  We both work full time and are currently both basic rate taxpayers (although we are both getting close to that boundary). We receive child benefit and some DLA for our daughter. When our daughter was born we started saving small amounts regularly into a JISA for her, but as her disabilities became clear we switched and started saving money for her within our own S&S ISAs. We still put money into her JISA when she gets gifts from grandparents etc as it seems disingenuous to keep that money under our names. We have an emergency fund, workplace pensions and are saving regularly into S&S ISAs, as well as mortgage that will last until we are about 60.  Is there anything we should be thinking about or trying to plan for our daughter's future. At this stage, it is difficult to determine how much she will understand about money and investing or whether she would have the capability to work or live independently. It may be that she will be under our care for the rest of our lives. It is also possible that one of us may need to reduce working hours or stop working when she turns 18 and needs care after she leaves school. Is there anything you think we should consider or advice on how to navigate the unknown? We are in the process of putting together a will and in the event of something happening to both of us, the care of our daughter would be covered by my husband's sister, but unsure how to navigate the financials. I appreciate that there are several questions within this question but any advice or areas that we can research on ourselves would be appreciated. Thank you so much, Laura Centurion (specialist IFA for people with children with special needs) https://centurioncfp.co.uk/special-needs/  Scope https://www.scope.org.uk/advice-and-support    16:34  Question 3 Hello First of all, thank you both for your wonderful podcast. I have learned so much. I have a question about the order in which to spend in retirement and how to hold our various investments. We have worked out a cashflow ladder using cash, short-term money markets funds, a defensive mixed asset fund, a 60:40 mixed asset fund and a 100% equity fund. But we also need to think about our various wrappers- about half of our investments are in DC pensions (mine and my husband's), a quarter in ISAs and a quarter unwrapped (which we can gradually move into ISAs). Is there a rule of thumb for how much of each investment should be in each wrapper? I'm also not sure about what we should be spending first- assuming no disasters we are hoping to give some money to our children before too long for IHT purposes. But if we take a large sum out of our pensions to do this, we'll pay 45% income tax on it which makes the IHT saving a bit pointless. So should we be making any gifts from our ISAs and using the pensions first ourselves (taking care to stay within the basic rate)? Any advice would be appreciated. Thank you Elizabeth Meaningful Academy Retirement Planning - https://meaningfulacademy.com/retirementplanning    For a discount, use coupon code: PODCAST 24:03 Question 4 Hi Roger (and Pete!), Firstly, thank you from the bottom of my heart for the education you provide to me and so many others. You've really helped me sharpen my financial tools. After spending the last 12 years self-employed, I didn't take my personal finances too seriously. Now that I have a steady, "grown-up" job, I've been able to get organised. I have a workplace pension, a private pension, a Stocks & Shares ISA, and a Lifetime ISA, all thanks to what I've learned from you both. My question is about Junior SIPPs. I often come across opinions suggesting that these should be the last thing you do, only after every other financial base is covered. I didn't receive a financial education growing up, and there's no pot of gold or property waiting for me down the inheritance road. That's why I'm motivated to change the course of my children's future — even if the benefit is far down the line. For a relatively modest target amount £15,000 each at age 18 (they are currently 1 and 4), I believe my children could have a very strong footing in later life due to the extensive length of compounding available, even without continuing contributions beyond that point, or perhaps with me matching their own contributions as an incentive in adulthood. I believe this will take some of the pressure off them which I currently find myself in having to aggressively play catch up on my retirement plan. They also have Junior ISAs, which I contribute to each month, to give them more flexible money when they turn 18. Their future stability would mean the world to me, even if I won't be here at that point to see them enjoy it! I'd love to hear your opinion on Junior SIPPs, as I don't think this topic is discussed enough — and it sometimes feels dismissed altogether. Thank you, Steven   29:15  Question 5 Dear Pete and Roger, You do marvellous work in educating us all. Thank you. I am a company director with 9 alphabet shares. 5 for me, 2 for my wife and one each for my adult independent children. I have substantial IHT liability so want to gift my shares to my children. The company has seven figures invested in the stock market. Can I gift the shares? How do I go about? Will that help reduce my IHT liability if I survive 7 years after gifting? Will there be a CGT liability on the gift? The company still trades but is unlikely to qualify for BADR (Business Asset Disposal Relief) as majority of assets are in investments. Thanking you, Narendra   36:35  Question 6 Hi Pete and Rog, Firstly, thanks for all that you do, your podcasts, videos and the Academy have really changed mine and my family's life for the better. A pensions drawdown question: If you plan to use all of your tax free allowance on retirement. Am I right that there are no benefits to using UFPLS over drawdown? I think there used to be a benefit with the lifetime allowance but I can't see any other benefits now. Thanks for all that you do, James

In this episode we answer listener questions covering emergency funds for higher and additional rate taxpayers, and inheritance tax considerations around beneficiary SIPPs. We also discuss whether couples should rebalance pension contributions, the key steps to take before retiring abroad, and what to know about DB pension transfers. Finally, we look at cross-border pension taxation using the UK–Denmark double taxation treaty as an example. Shownotes: https://meaningfulmoney.tv/QA40    01:20  Question 1 Hi Pete & Roger, Thanks for all your helpful and easy to understand information. I have only been on my financial wellbeing journey for a year.  I work in the NHS and am in a higher tax bracket. I am fully enrolled in the NHS pension, more out of previous disinterest than any actual action on my part. I am single and currently saving up for a down payment on a house in about 4/5yrs. I maxed out my ISA last year and expect to do the same this year; this includes money for the down payment. I also took out a SIPP which I only recalled last year; I took it out 20+ years ago. However I am still waiting for a statement from the pension office before my accountant can work out how much more I can add to the SIPP.  In the interim I have my emergency fund in a premium bond (20k) but am worried it's being eroded by inflation. I expect to be an additional tax payer in the next few years. Where should I keep my excess cash? More in premium bonds with no tax but erosion by inflation; or open GIA or more in high interest savings account and pay the tax? Or is there another option you would recommend? Btw I have £600 in crypto (Coinbase and Etherium) but don't plan to put more than £400 more in then plan to forget about it. It's a tiny fraction of what I put in my ISA. Thanks, Joy   04:46  Question 2 Dear Pete and Roger. Love the podcast. I think it is essential listening for those wanting to elevate their knowledge of the incredibly important subject of financial planning and it also highlights the value add that financial professionals can provide. My mother is 79 and has a comfortable guaranteed inflation linked income via state and civil service pension, which is supplemented by savings (maxed premium bonds & healthy cash savings) and investments held in ISAs and a beneficiary SIPP from my late father who passed before 75yrs old (therefore the assets are income and CGT free). My mother is keen to minimise the IHT on the estate both her and my father worked so hard to create. Despite her comfortable situation, I still have to encourage her to spend and use your very helpful '40% off sticker' analogy on a regular basis. It is my understanding that SIPPs will be subject to IHT and income tax from 2027. As my sister and I are both additional rate taxpayers, we will potentially be subject to 67% tax on any assets remaining in the SIPP if the estate is above £1m IHT threshold. While the '67% off sticker' analogy is even more helpful to encourage her spending, it has triggered some planning. We are drawing down the beneficiary SIPP to fund ISA each year for my mum – keeping the income and CGT tax benefits for my mum while removing it from the double income and IHT tax on death. As part of the IHT planning we are now considering regular gifts from surplus income. When combined with her guaranteed income, the assets in the beneficiary SIPP are more than sufficient so sustain her lifestyle until her age would be well into three figures. Based on my reading, it appears any drawdown from SIPPs are considered 'income' for gifting purposes, regardless of if they come from capital or income. Therefore she could start to draw more 'income' from the SIPP and gift this surplus which could be considered IHT free. Are there any limits to how much or how quickly she could reasonably drawdown from a SIPP so that it would no longer be considered 'income' by HMRC for IHT purposes? i.e could she empty the SIPP over a 5 yr period, gift that as excess income, then reduce the gifts to reflect a different income and or expenditure? While all the drawdown from SIPPs is considered 'income' for IHT purposes, the treatment of withdrawals from ISAs or other investments are distinguished between whether they are actually capital or income. Therefore, we have the added complication of needing to balance the 'income' drawdown from the beneficiary SIPP to make sure she doesn't eat into 'capital' of the ISAs and savings which would then mean the gifts from regular surplus income would then be considered part of the estate again. Our circumstances mean my mum feels slightly trapped between keeping the SIPP (so it is considered income for gifts from regular income but gets IHT taxed at 67%), continuing to use the beneficiary SIPP to fund ISAs (reduce IHT liability but lose flexibility to gift it as income), maybe change the investment engine of the ISAs from a lower yielding balanced solution to something with a higher natural yield, or do something else altogether (lump sum gifts and hope to survive 3yrs for taper or 7yrs). Any thoughts or suggestion would be appreciated. While there are some relatively niche circumstances, I think it covers two more broadly applicable IHT planning considerations SIPPs v ISAs under the new rules and regular gifts from surplus income. Thanks in advance Stephen   17:06  Question 3 Hi Pete and Roger Thank you both for your continued help in navigating the financial maze and I am enjoying the listener questions. My wife works part time and is a basic rate tax payer. She pays into her workplace pension and contributes an additional 15%. Her pension provider receives 20% tax relief on these contributions. I am a higher rate tax payer and I make contributions to a SIPP. My pension provider receives 20% tax relief and I claim an additional 20% directly from HMRC. As a couple, we could stop making the additional contributions to my wife's pension and instead make them into my SIPP. This would give us an additional 40%, rather than 20%. Mathematically this makes sense. We haven't done this so far, as I like the idea that we are equally contributing to both of our pensions, for the future. It also helps keep things simple. I am mindful that one day, we may kick ourselves for not making this simple switch which may leave us with a significantly bigger pot, when we need it. What options would you consider in this decision of splitting pension contributions. Many thanks, Rob 20:17 Question 4 Dear Pete & Rog, I just wanted to say a heartfelt thank you for your podcast and the incredibly valuable information you share. Your conversations are not only insightful but also reassuring as I start to think more seriously about my own retirement planning! One of the things I'm considering is retiring abroad (somewhere sunny!) Spain most likely, and I wondered if you might explain the process you go through with such clients. Specifically, do you have a checklist, or a list of key questions, that you typically ask clients to work through before moving overseas? For example, I've learned that ISAs are not recognised in many EU countries (so it may be better to sell before leaving), and I imagine there are similar considerations around SIPPs/UK DC pensions and other investments. Do you also tend to liaise with financial planners or accountants based in the EU when helping clients prepare for such a move? I would be very grateful for any wisdom you could share. Thanks again for all the work you put into the podcast, it really does make a difference. Warm regards, Chloe 24:55  Question 5 Hi Pete, Love the podcast.  Very informative and user friendly. I have a question, once popular but maybe not so much now and one that will make advisers sweat again! I'm a sophisticated investor (so to speak!), I manage my own SIPP etc and I'm an accountant so I guess I have a head start over most people.  I have a net worth excluding my house of circa £2.5m spread across a SIPP, ISA, FIC and GIA. I also have an old DB pension.  I'm 59.  It pays out circa £6,500 from the age of 65.  My dad died aged 63.  Given my circumstances I want to transfer the DB scheme into my SIPP.  I have two children so would like them to get it rather than die with me so to speak.  The last transfer value I got was pre covid at circa £100k which I know isn't a brilliant multiple but I'm happy with that.  I'm fit and healthy but I'm not relying on the guaranteed pension given my other pension provisions. So, firstly is it likely the transfer value would have gone up or down given the increase in interest rates and secondly do you think I could get a positive recommendation from an adviser? Thanks, Oscar 31:35  Question 6 Dear Pete and Roger, Love the podcast. I'm a bit more of an adventurous investor than you usually caution, but you provide a certain "passive-tracker-Yin" to my "property-investment-Yang". Given your backlog I'm going to ask you a pension question that I probably don't have to think about for 20 years, so you have time to get to it. I worked in Denmark for several years and paid into a pension scheme while I was there. I believe it is structured similarly to a UK DB pension scheme. There is an initial lump sum plus an income for life.  This pension fund is not covered by QROPS, so there is no transferring my way out of this complexity. The Danish pension fund thinks I'll be paying Danish income tax (presently 37-38%), Chat GPT is adamant that I'll be paying UK Tax. Who's right? If taxed in the UK I can imagine getting the tax free cash allowance right might be complicated. Is there anything else I should be considering? Best Wishes, James

The Falcon system to deliver guidance and success.The tech hub to unify multiple lines of business.The merged calls to save deals.A mortgage expert who's since grown a 100-person organization delivering integrated real estate services, Jordan Vreeland's constantly building the playbook.Go inside his athletics-informed philosophy and approach to developing people, unifying teams, leveraging tech, and improving client experience.Watch or listen for Jordan's insights into:Two reminders and resets when you step onto the courtBuilding winners, not just winning gamesWhen and why a mortgage expert started a now-70-agents real estate brokerageGetting turned onto tech, marketing and lead generationChoosing to start independent rather than with another brand or brokerageThe concepts behind their integrated tech stackJordan's role in the organizationExample of solving a problem by creating a role that elevates team membersWhat more real estate professionals should know about mortgage and how to get thereHow he built a team of overseas ISAs that's become the defense system and the “lifeblood of the business,” and part of the family - with tips for you to do the sameEnhanced client visibility and better client conversations with Zillow ProGetting what you give and not falling prey to the sickness of chasing numbersAt the end, learn about three winning basketball teams, lawless psychopaths, friends he's never met, and family getaways.Connect with Vreeland Real Estate:→ https://www.instagram.com/vreelandrealestate/→ https://www.facebook.com/vreelandrealestate/Connect with Real Estate Team OS→ https://www.realestateteamos.com→ https://linktr.ee/realestateteamos→ https://www.instagram.com/realestateteamos/

 Join an active community of RE investors here: https://linktr.ee/gabepetersen

Pete and Roger answer six listener questions covering Coast FIRE strategies with GIAs, US 401(k) tax implications in the UK, record keeping for IHT-exempt gifts, Australian pension taxation for UK residents, pension contributions to avoid the £100k tax trap, and managing a £2M portfolio as Power of Attorney. Shownotes: https://meaningfulmoney.tv/QA39    01:17  Question 1 Hi Pete and Roger, I'm 29 and working towards Coast FIRE within the next 2–3 years so I can begin a digital nomad lifestyle — working remotely while knowing my long-term retirement is taken care of. Right now, I've got: - £45k in a Stocks & Shares ISA - £25k in a workplace pension (via salary sacrifice) - A Lifetime ISA for a future house deposit (or later retirement) - A fully funded emergency fund I've already maxed out my ISA for this tax year and plan to continue doing that every year. But I have more money to invest now, and I know that to reach Coast FIRE on my timeline, I need to start using a General Investment Account (GIA). Here's where I'm stuck: I want to keep things simple and tax-efficient, but I feel a bit nervous about GIAs. I keep hearing about the "bed and ISA" strategy but don't really understand how it works in practice or how to implement it over time. Could you explain: - How best to use a GIA alongside an ISA when working towards FIRE? - How to manage capital gains and dividend tax efficiently? - And how the bed and ISA approach actually works — especially for someone trying to keep things simple? Thank you both so much — your podcast has been an incredible resource and a big part of why I've been able to take control of my finances. Warmly, Pauline 12:22  Question 2 Hello Pete & Roger I am very late convert to the podcast but have been ploughing through the Q&A for a few days now. I think I only have another 592 episodes to get through so should be up to date by the end of the week !! I am not sure whether this has been covered or not. I have a 401K plan that has been hibernating in the USA for 20 years. I have only recently started looking at it and now need to understand the tax implications. I have tried to read HMRC guidelines on tax treaties etc but get even more confused than before. My current belief is that the provider will pay this money out by means of US issued cheque (not a problem) but withhold 30% tax (a problem). How will HMRC treat this? The usual sources http://unbiased.co.uk for one run for the hills on finding information about this, is this an area you can provide guidance, but obviously not advice as I know you cannot through the podcast. Regards, Stephen 16:10  Question 3 Hi Pete & Roger, Like so many people I am really impressed, not just with your knowledge and great communication skills, but that you put out such life changing content. You're providing us with the means to help ourselves in this financial world as well as letting us know when to seek professional help. On to my question: we're (wife and I) retired (late-60s) and are lucky enough to have more than enough to comfortably live on, thanks to DB & state pensions, house price inflation etc. Not really through any financial planning but just having been born at the right time! So we do now have an IHT liability. We have a joint second death Whole Of Life policy (in trust) in place for potential IHT and have given help with house deposits for our children. We also are gifting to the kids out of our excess income and would like your thoughts on the type of record keeping needed for this. We have letters stating the intention to give the gifts, recording who to etc. We keep completed IHT403 forms which we update annually. We also have a monthly/annual spreadsheet of income/expenses which demonstrates our surplus and keep track of expenses with the MeMo transaction tracker (thanks for that). These are all in our 'WID' file (again thanks to you for that). What we're not sure about is any documentation that might be needed to evidence the figures. Income is straightforward with P60s, statements of interest/dividends. However, what is required for expenses? Can't really keep all supermarket receipts etc and even bank/credit card statements would be quite bulky over several years. Not sure if we're overthinking but don't want to leave a difficult task for our kids when we're gone. Thank you both again for all the good you are doing Simon 20:33 Question 4 Brian (in Australia) Thank you for all your podcasts and videos but I think I may have to sign up to the academy to fully get my head around all the UK rules. We are looking to move to the UK from Australia - we have no UK govt pension entitlements but are retired with personal Australian private superannuation account pensions. The pension income payments and withdrawals are all tax free in Australia but will the UK government apply a tax on these pension payments once we are UK residents?   Thanks again for all your useful information. Regards, Brian 22:55  Question 5 Hi Roger (and Pete), I had a question which is boiling my brain far more than it should and I was hoping you could include it in one of your Q&A episodes. I'm in the fortunate position of being caught by the £100k 'tax trap' due to being paid a bonus for the first time in a number of years. This particular first-world problem is being made all the worse because my daughter will start nursery next year so in addition to the 60% tax charge on my bonus, we would also lose the 30 free hours of childcare we currently have access to. I currently salary sacrifice roughly £5,000 of salary into my pension (which my employer matches) and this holds my income at £99,000. However there is no option for me to do any kind of 'bonus sacrifice'. My only choice is to receive the bonus payment net of tax & NI through PAYE and then make a payment into my personal pension (a Vanguard, low cost multi-asset fund, just like you taught us!). I think I'm right in saying my pension provider will claim back the basic rate tax automatically for me, and I can then claim back the other 20% via my tax return with HMRC paying this extra 20% back to me directly. So far so easy, but what I can't work out is just how much I have to pay in to my pension in order to take all of the bonus payment out of my taxable income. Presumably its not the net amount extra that gets paid into my bank account on the month my bonus is paid because this will also be net of NI, meaning I wouldn't have paid enough in to avoid the £100k trap. Assuming my bonus payment was £10,000 (I don't know the exact figure yet but its likely to be around this amount), could you talk through how to calculate the net payment I need to make into a personal pension to achieve the desired result? As a follow up to this, if HMRC send me a cheque (very 1990's) for say £2000 of refunded higher rate tax, do I need to pay this into my pension in the next tax year to avoid having it counted towards my taxable income in that financial year? Please keep up the great work that you both do, you've really helped me get my financial life in order after an extremely difficult period in my life. Thank you both! Jimmy 27:29  Question 6 Hi Pete and Rog, Firstly, a huge thank you for all the insight and support you continue to offer. The impact of the Meaningful Money Podcast is immense—I've personally benefited so much from your free content over the years. I'll keep this as brief as I can: My great aunt (now 84) has built a substantial portfolio over decades—about £2 million across ~60 individual company shares, with approx. £1.3 million in a GIA and the rest in S&S ISAs. She also holds £400k in fixed-term bonds, savings accounts, and premium bonds. Sadly, she was diagnosed last year with dementia and Alzheimer's and now resides in a care home. I am her Power of Attorney and want to act in her best interests—simplifying her affairs and ensuring tax efficiency, especially regarding her legacy. She has no spouse or children but wishes to leave money to nieces, nephews, and charities. Here's my working plan: - Offset gains in the GIA by selling loss-making investments (totalling £30k–£40k) alongside some of the profit making investments to reduce market exposure without incurring CGT costs.     - Liquidate all shares in her S&S ISAs and transfer funds into cash ISAs with decent interest rates - Leave most of the GIA portfolio untouched to benefit from the CGT uplift on death Am I broadly on the right track for tax efficiency and sensible financial planning? Should I seek formal advice to ensure I'm doing the best by her? Thanks again for all you do—it really matters. Best regards, Josh  

Do you need an ISA? When? How do you comp them? What if they want to be agents? What if they're overseas?Should your team follow scripts? How closely? Where are the non-negotiables and where do you find room to stay human?How do we uncover motivation and handle objections in a helpful way that improves client experience?Nikki Pais is here to address all that and more. She brings years of experience as an EA, ISA, and Director of Inside Sales, as well as years of experience coaching ISAs, agents, and team leaders across North America on better conversations, effective nurturing, and more closings.Watch or listen for Nikki's insights into:Why to apply what you learn without waiting, without tweaks, and without doubtsThe most common problem among the teams she's coaching: exceptions (plus when to turn an exception into a tier)The difference between coaching and training - and how to figure out what you needTop signs that you'd benefit from an ISAWho makes a great ISA (domestic vs international, aspiring real estate agents, current agents)How to comp ISAsManaging handoffs and the division of labor between agents and ISAsWhy to treat every new lead as a buyer (yes, even sellers)How to uncover motivation in a meaningful wayThe right way to use scriptsThe difference between objections and conditions - and how best to handle objectionsTaking notes vs relying on AI summariesFacing the challenge of sales skepticismLeveraging AI calls and texts for the right reasonsAt the end, learn about an inherited team, soaps you don't like, well-traveled boxes, and 50 audiobooks for 50 ideas to apply immediately.Other episodes you'll enjoy:→ More Deals from Your Database With (or Without) an ISA with Travis Halverson https://www.realestateteamos.com/episode/travis-halverson-deals-database-isa-inside-sales→ From ISA to Director of Opportunities with Lisa Ryan https://www.realestateteamos.com/episode/inside-sales-manager-isa-real-estate-opportunities-lisa-ryan→ How to Drive Per-Agent Productivity with Jonathan Campbell https://www.realestateteamos.com/episode/how-to-drive-per-agent-productivity-jonathan-campbellConnect with Nikki Pais:→ https://www.facebook.com/nikki.shanelle.pais→https://www.ezdials.com/shut-up-and-dialConnect with Real Estate Team OS→ https://www.realestateteamos.com→ https://linktr.ee/realestateteamos→ https://www.instagram.com/realestateteamos/

In one of the rawest and most inspiring episodes yet, James and Keith sit down with Jeffery Mcgonigle, co-founder of Power Real Estate Group. From crying in his car to closing 560 deals and leading a 160-agent team, Jeffery shares how grit, structure, and clarity fueled his rise—and why "feelings aren't real" might be your new mantra.   They go deep on: The 3-2-1 method that every agent should be using Why most agents live in a fog of activity (and how to clear it) How he scaled with virtual assistants, ISAs, and dashboards Why clarity, not complexity, drives accountability The power of ambition and choosing the harder path on purpose   Whether you're brand new or running a big team, this episode will leave you fired up and focused on what matters.   Give your clients the competitive edge with Zillow's Showcase. Discover how this exclusive, immersive media experience featuring stunning photography, video, virtual staging, and SkyTour helps agents drive more views, saves, and shares. Agents using Showcase on the majority of their listings on Zillow list 30% more homes than similar non-Showcase agents. Learn how to stand out and become the agent sellers choose. https://bit.ly/4jIetOp   Zillow Zeitgeist 2025 https://www.zillow.com/learn/zeitgeist-2025/   Connect with Jeffery on LinkedIn.   Learn more about Power Real Estate Group on YouTube - Instagram - LinkedIn - Facebook or online at powerreteam.com.   Subscribe to Real Estate Insiders Unfiltered on YouTube! https://www.youtube.com/@RealEstateInsidersUnfiltered?sub_confirmation=1   To learn more about becoming a sponsor of the show, send us an email: jessica@inman.com You asked for it. We delivered. Check out our new merch! https://merch.realestateinsidersunfiltered.com/   Follow Real Estate Insiders Unfiltered Podcast on Instagram - YouTube, Facebook - TikTok. Visit us online at realestateinsidersunfiltered.com.   Link to Facebook Page: https://www.facebook.com/RealEstateInsidersUnfiltered Link to Instagram Page: https://www.instagram.com/realestateinsiderspod/ Link to YouTube Page: https://www.youtube.com/@RealEstateInsidersUnfiltered Link to TikTok Page: https://www.tiktok.com/@realestateinsiderspod Link to website: https://realestateinsidersunfiltered.com This podcast is produced by Two Brothers Creative. https://twobrotherscreative.com/contact/  

Top-producing real estate agent and team leader Corinne DeFilippis returns to the REDX Podcast to break down a smarter, more scalable way to use ISAs without burning out or losing control of your business. With over $100M in closed production and a business built primarily on outbound prospecting, Corinne reveals how she uses an ISA to pre-qualify expired listings so she can focus exclusively on high-level conversations and conversions. In this pre-recorded episode, agents will learn how to design an ISA system that protects time, increases quality conversations, and creates real leverage, whether you're a solo agent or building a team.Here's what you will discover in this episode…How to use an ISA to qualify expired listings so you speak with more motivated sellers in less time.Why agents must master outbound prospecting themselves before delegating if they want consistent results.How to scale from solo agent to team leader by aligning systems, roles, and personal capacity.JUMP TO THESE TOPICS

In this episode, Sara and Heather-Ravelworks kick things off with real talk before diving into one of the most misunderstood parts of real estate operations: Inside Sales Agents (ISAs) and Virtual Assistants (VAs). As hosts of the “F-word” podcast focused on real estate trends, they unpack what actually works—and what doesn't—when it comes to building and managing support teams. They share real client stories that highlight the importance of accountability, tracking outcomes, and setting clear expectations. From failed high-volume call strategies to overwhelmed agents drowning in leads, Sara and Heather explain why systems, SOPs, and intentional follow-up matter more than sheer activity. The conversation also explores client fit, boundary-setting, purposeful appointment setting, and how to treat ISAs as revenue partners—not task robots. Packed with practical frameworks, mindset shifts, and leadership insights, this episode is a must-listen for agents looking to scale sustainably, avoid burnout, and get real results from their ISA and VA teams.

It's another Meaningful Money Q&A, taking in the £100k tax trap, splitting pensions on divorce, safely switching investment platforms and much more! Shownotes: https://meaningfulmoney.tv/QA38    01:59  Question 1 Hi Roger and Pete, Long time listener, first time questioner. My wife and I have both earned in excess of £100k for a few years now, meaning I am acquiring a peculiar set of skills on the various ways to use pension contributions, rollover allowances, gift aids, etc to keep us both below the (entirely bananas) £100k cliff-edge each year. My question is on the £60k pension annual allowance. Does it only apply to the amount of pension savings in a given year which can be made without paying a tax charge, or does it also count as the maximum amount of pension deduction which can be taken to calculate net adjusted income as part of completing our tax returns? The (slightly over-simplified) situation in my mind is that if I earned £160,500 in a given year, I would prefer to pay £61k into a pension, thereby reducing my net adjusted income to £99,500 to stay below the cliff-edge, even if I had to pay 40% tax on the extra £1000 above the pension annual allowance. As a fun aside, I asked this to my preferred AI - and I leave a link to see if you agree with it's answer or not  - https://g.co/gemini/share/8c23e91cb658 Stephen 07:58  Question 2 Hello Pete & Roger Listen and enjoy all your podcasts regularly but every now and again you get one that addresses specific points to the individual listener. For me it was Podcast QA18. A really great podcast. 1. The 2015 changes to pensions made  significant differences to pensions and most financial experts have rightly advised using your pension as one of the best places to put savings. It does seem unfair that you plan your savings and pensions well in advance for retirement based on government rules. and then you you find you are likely to have a sizeable IHT bill. At 78 it is difficult to turn the ship around quickly. Many more people will be affected by this over the next decade. The main reason however for my question relates to ways to reducing the effects of this IHT change. The general allowances and the 7 year rule are all clear. However the main exemption that could help is the little used Gifts form Excess Income. I have read up as much as I can and the whole system seems rather vague and many things open to interpretation, even by financial experts. There is no clear and precise set of rules whereby you can be certain something is capital or income. Your executor will have to understand all this and have all the back up documentation to convince HMRC that the gifts are justified.  I do have excess income and spent significant time over the past weeks analysing all our expenditure and income sources ending up totally confused and with a severe migraine. Any advice on how best to handle this can of worms would be appreciated. 2) So many of us these days have children living in different countries with their families. All with different citizenship and residency situations in different countries. There seems to be very little information about  IHT and general tax issues in relation to gifts and inheritance of money and pensions for children and grandchildren in this situation.  Best regards, Peter   16:52  Question 3 Hello Roger and Pete, Thanks for a great series of podcasts. Some of them confirm what I already know and some give me insights, ideas and an understanding I didn't have. You provide a great service. My wife and I are 54 and 55. We are getting divorced. The divorce is amicable and we want to share everything evenly. I take home £5k/month and she takes home £2.3k. We will split this evenly as long as we both work. Our pension funds are not of equal value. I have DCs and SIPPs worth £800k and ISAs worth £100k. I also have a small DB pension that will pay out about £3k/year in today's money at age 67. My wife has a DC pension worth £210k and ISAs worth £220k. She has a DC pension that will pay about £2.5k/year in today's money at age 67. As you can see, the majority is in my name. This makes sense as I have worked whereas she has taken time off to raise our children. We have equal claim to the money in my mind. I think the ISAs are straight forward. We can balance the value by selling some of hers and investing more in my name. The DC pensions are more difficult. By right I should give her £295k to make them of equal value but how do we do this? We want to avoid expensive solicitors and accountants but are not sure if we can DIY this. Please share any advice you can give. Regards, Jay   25:43  Question 4 Hi Pete and Roger, Thanks so much for what you do with the podcast. It's completely changed my approach to my finances, especially over the last year which has felt even more important after the birth of my son. I have a question about investment platforms. I currently have about £70,000 invested in passive world index trackers via a platform. I estimate my total annual fees including fund and platform fees to be about 0.66% pa. I don't think this is terrible but I think it could be less. I'm considering transferring my investments (which is a mixture of stocks and shares ISA, LISA and (very small) SIPP) to a cheaper platform. Do you have an advice on the transfer process, especially in whether to transfer all the funds in one go or is there a strategy you'd recommend to avoid falling foul of market fluctuations? Thanks, Jack 30:47  Question 5 Hi Pete and Roger, You guys are the best. You've given me my only financial education. Never underestimate what a difference you are making to ordinary people's lives. THANK YOU. I am 42 years old saving into my workplace DC pension. I have a bit of a gap because I started late and then freelanced for a few years, so playing catch up, but thanks to you both, seeing the positives in this, rather than beating myself up. I am basing the 'gap' on not quite having 3x salary saved by age 42 - is that a decent rule of thumb? As you both say, arming people with knowledge can be a good thing and a bad thing, because armed with this new knowledge we can go off and overcomplicate things. I decided to pull my pension from the default fund and pick 6 funds. What's the best route for working out if I am paying too much in fees, if I have got too much crossover across funds, and if the more pricey ones are worth it?  Do I need to get financial advice or could I do this myself (being a complete layman obvs)?  Do you have any tips on the process of comparing, finding inefficiencies and consolidating? What's a reasonable number of funds would you say? 3? 1?  BTW I've done the same thing with my ISAs since they let us have more than one. How do you just pick one and stick with it, and not get distracted by the new shiny providers? It seems like newer, better products and platforms come out all the time. Or am I worrying unnecessarily and might it be ok to have fingers in many pies? Thanks again for all you do. Hayley 37:47  Question 6 Thanks for all the content, I listen to every episode and often share the pod with others to share the good word! My partner will soon be able to get her NHS pension. While we were looking at the numbers, I began to wonder whether there is any benefit in taking the maximum lump sum and investing it outside of the pension. My thinking was that she would probably be able to generate the same amount of income from investing it in the stock market, but that when she dies she will be able to pass the capital on, whereas her pension will just stop paying out. I think the maximum she can take is about £70k. Presumably she could put this in a GIA and feed it into an ISA over a few years, accepting that any gains in the GIA would be subject to tax. I just wondered if there were any other tax implications that I hadn't considered? If not, then presumably it's just a case of comparing the drop in the annual pension payment against the expected returns (after tax) from investing outside the pension? Would love to know your thoughts on this. Thanks again, and keep up the good work. Tim

Probate real estate leads respond better when your business follows a clear path instead of a mix of unfinished setups. If your leads keep coming in but your system to handle them still feels halfway built, this call helps you see what a complete structure can look like.This session walks through three clear paths for a probate business, the numbers behind a full partnership model, and what happens when a pipeline runs long enough to compound. You will hear how agents  and investors  can plug in their own data, how old lists can still support early months, and what changes around month six when systems, coaching, and lead flow all point in the same direction.This call fits you if...➡️ If you already have probate real estate leads and no clear follow through, then you need a simple way to see where each contact stands.➡️ If you keep going back and forth between building alone or joining a partnership, then you need to hear the economics explained in clear terms.➡️  If you want a business that can keep moving even when you are not prospecting at full speed, then you need to see how ISAs, mail, and resource packages support that outcome.Highlights and Hot Takes: 1:19 Three paths to running a probate business and how each one handles time, money, and support22:20 Using your existing data inside the system and what needs to be true about those leads26:08 Pipeline on autopilot, how calls, mail, and resources keep probate leads moving toward you39:15 Monthly economics for a full partnership and what that looks like in practical numbers46:00 Options for partners who stay beyond six months and how expenses can shift as results grow48:28 Split structure for investors who move deals through this model49:54 What happens if you decide to end mentorship or partnership once systems are in place53:14 Paths for running a lighter version of this setup when you want lower spend1:07:22 Expected outcomes once these systems are implemented and given time to workWhen this matches where you are with your probate real estate leads, watch the call with your own market in mind and decide which path you want to commit to next.

Welcome to the first podcast of 2026 where Roger and Pete answer more of your varied and interesting questions, covering everything from what to do when you've maxed out your pension and ISA, to whether you should borrow on your mortgage to invest! Shownotes: https://meaningfulmoney.tv/QA37   01:30  Question 1 Hello to Roger and his trusty sidekick Pete, Only kidding Pete, but it will make Roger feel good briefly. I must credit the pair of you for your continued dedication and commitment to educating the wider population on all things financial.  I have gone from strength to strength in planning my retirement with the guidance and abundance of free information you have provided, the books you have written Pete, as well as signing up to the Meaningful Academy Retirement Planning and now planning to retire several years earlier than originally intended. Using the information provided and learnt, I have got my finances in order but more importantly, that decision is to align my future life (and that of my wife) to the finances we need and when our needs are likely to be met, hence the realisation retirement is not as far away as we had originally perceived, so I really appreciate what you have done for me and my family. My question maybe very simple, but it was sparked during a previous Q&A session Listener Question – episode 20 - 30th July – Question 2 – The question surrounded company Shares. I am employed by BAE and I purchase company shares each month, partially as a sensible Tax saving being a higher rate tax payer (purchase them pre Tax) but also for the first £75 worth each month I buy each month, the company will match, so effectively £150 worth of shares which technically costs less than £50 in real money each month.  Now whilst I do sell some shares along the way (after the 5-year maturity to avoid tax payment), I continue to have a reasonable amount invested (£35k subject to tax relief period on some). A statement you made during the above session was "as a sideline issue we tend to say to people that investing in shares for the company you work for is a bad idea at any scale, thus to avoid backing one horse and it's not a good idea to hold onto shares for a company you work for." Now I thought I was onto a winner and being tax efficient and building an amount of money which I tap into on an occasional basis as well as additional source of income once retired, but are you implying, as you did to that listener, I might consider cashing some in and transferring the money else where? Perhaps in this instance it is suffice leaving it there, as the examples you gave were for smaller companies (in comparison) that folded, whereas BAE one of the larger Defence industry companies, doesn't appear to be going anywhere soon?  I do have a Royal Naval DB pension already paying out, as well as a part DB and part DC pension with BAE (continuing to build), so I'm not reliant upon the money, which is another factor why I've not considered moving them away or am I doing myself a bad deal, id value your opinions (not advice ha ha)? Thank you for your time Regards, John 08:02  Question 2 I'm 39, a basic rate taxpayer and I have a Lifetime ISA and a SIPP with HL. Can I save for retirement in my Lifetime ISA and invest in the same funds as my Pension after receiving the 25% bonus to achieve similar growth. Then at age 60, withdraw all that money tax free and pay it into my pension (up to my allowances and possibly using previous years) to gain the 20% tax relief just before I draw the pension? I would also save some money on platform fees as the LISA is 0.25% vs the SIPP at 0.45%. I know I can get cheaper platforms elsewhere but I find HL easy, intuitive, and feel like I can trust them with my money, which really encourages me to save in the first place. Thanks, Robert 13:40  Question 3 Hi Pete and Roger, Longtime fan and listener, thanks for all the great work you do! I'm 40 years old and a member of the LGPS DB pension scheme, which I've been paying into since my early 20s. My partner is also in a DB scheme (Central Government). We have no debt other than our mortgage. We currently live in a modest home we bought for £89k, but are thinking about upgrading to a bigger property for more space and comfort (no plans to have children). That said, we've enjoyed the low cost of living here. We've built up around £160k in savings, split roughly 40% in a Stocks & Shares ISA and 60% in Premium Bonds and cash. I've tried to keep the ISA intact as a form of flexibility/security around retirement, potentially to retire early or reduce hours in the future. The dilemma is: 1. Do we spend most of the savings on a better house and accept working longer? 2. Or do we stay where we are, keep our financial flexibility, and potentially one of us works less or retires earlier? 3. Or is there a sensible middle ground, spending some of the cash to improve our living situation while still preserving part of our financial cushion for future flexibility? We're just trying to balance quality of life now with freedom and options later, and would love to hear your take on it. Is there anything else we haven't thought about? Thanks so much for your thoughts! Gez   19:25  Question 4 Hi Pete and Rog, big fan of the show and I appreciate the helpful topics you cover. I am currently going through a remortgage and am extracting equity from our house to invest. The new mortgage rate is around 4% and our LTV will be around 80%. The additional monthly costs are within our budget too. My strategy is to invest the extracted amount in a stocks and shares ISA with my wife, utilising the £20k allowance each per tax year. This will be invested into globally diversified index funds. I have ran calculations on how much I will be paying in additional interest vs how much is probable from stock market returns. Over 25 years, the additional interest paid on £50k extracted at 4% is £29k Over 25 years, having invested £50k, I would need to return 1.84% to break even from this deal. This is due to the way mortgages are amortised via repayment vs the investments compounding positively. With conservative returns of 7% used, this will net £236k of interest. Am I missing anything here? Keep up the great work and I'm very interested to hear whether you have done this in the past. Stephen 26:40  Question 5 Hi Pete and Roger, Recent discoverer and now big fan of the show here - I have now caught up on all the Q&A episodes and am continuing to work my way through the back catalogue: a lot of material! My questions centre on tax-efficient options once ISAs and pensions are maxed out, and how to "bridge" savings if retiring before pension-age. I am 36, married and have 2 young daughters who are the apple of my eye. We have a very manageable mortgage and I benefit from a very well paid job. However, an extremely stressful period last year sent me on the track of better understanding personal finance (and ultimately finding you) in order to achieve financial independence and not need to tolerate that kind of situation ever again, as well as be free to dedicate my time and energy to things without worrying about how much money they pay. 1) I am trying to get to functional financial independence (i.e. paid work is entirely optional) as soon as possible - I now max out my annual pension and ISA allowance each year and am likely to continue to in the future. Are there any other normal vehicles I can use for additional saving and investing? Giving money to my wife to use her ISA allowance? Anything else? I don't want to overpay the mortgage for the next several years as we managed to get a fixed rate that is below the current rate of inflation. 2) I have a good understanding of our essential and discretionary spending, and with a conservative annualised rate of return I could theoretically stop contributing to my pension pot in the next 7ish years and compounding would mean it would be big enough to fully support us once we can access it. My question is - is there a good rule of thumb or approach for working out how much I need to save outside the pension if I wanted to stop working for money before 57? Is it just a case of working out # years x expenses or is there anything more sophisticated to it? 3) bonus question - feel free to cut if it doesn't fit: I'm familiar with the idea of asset allocation and rebalancing to "smooth the ride" for my portfolio. Most things I've read or listened to have focused on equities vs. bonds. When I was looking at a number of bond indexes recently the returns have been pretty flat, often 4% from a cash ISA, what's the point of the bonds? Am I missing something? Thanks so much for all the knowledge you put into the world, giving people the tools to look after themselves. The chat is pretty great too! Kind regards, Martin 37:18  Question 6 Hello Pete & Roger Thank you for your fantastic materials, so well explained. We're 62. We already have a standard pension pot Annuity and we have around £300,000 in savings in building society accounts. (We value peace of mind over the potential for big gains, so we're not really considering stocks and shares). We're wondering whether, rather than rely entirely on savings accounts, it would make sense to use a Purchase Life Annuity. With current annuity rates, it looks like that's a Yes, so we're curious what your expert view is on this. We're aware of the downside: that it leaves us without much of a savings pot for any unexpected very large need. Have watched the Annuities: Back from the dead? video - https://www.youtube.com/watch?v=alTTzrd2NbY -  which talked about buying an annuity with pension, but in our case it would be Purchase Life Annuity, so does that make a difference when purchasing an annuity? Thank you again! Moira