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The Meaningful Money Personal Finance Podcast

ByPete Matthew
574 episodes

Podcast Summary

Pete Matthew discusses and explains all aspects of your personal finances in simple, everyday language. Personal finance, investing, insurance, pensions and getting financial advice can all seem daunting, but with the right knowledge and easy-to-follow action steps, Pete will help you to get your money matters in order. Each show is in two segments: Firstly, everything you need to KNOW, and secondly, everything you need to DO to move forward on the subject of that episode. This podcast will appeal to listeners of MoneyBox Live, Wake Up To Money, Listen to Lucy, Which? Money and The Property Podcast. To leave feedback or ask a question, go to http://meaningfulmoney.tv/askpete Archived episodes can be found at http://meaningfulmoney.tv/mmpodcast

#1

Listener Questions Episode 15

Another mixed bag of questions this week, including pension tax free cash, salary sacrifice for electric cars, de-risking a pension and buying gilts! Join us as we answer your most pressing questions! Shownotes: 01:05 Question 1 Love the show, and whilst not all relevant to my own circumstances, find it all very interesting and enjoyable. Question :-You regularly discuss taking the 25% tax free and what to do with the rest (annuity or drawdown) but need advice as I have 4 different pension pots, 3 frozen and 1 existing employer. I am looking to take the 25% from one of the frozen ones to pay off mortgage but not clear on the below: - Can I keep the remaining 75% in the pension scheme and not take either drawdown or annuity until a later date (when I take early retirement)? - More importantly, I am sure I have read that once you start to take your pension, the amount you can contribute is capped. How does this work if it is a frozen pension I am taking the 25% out of and would this impact on my current employer pension contributions? Thanks as always Paul 05:19 Question 2 Hi Pete and Roger, Absolutely love the show, after listening to yourself for a number of years, I'm 30 and would even go to say I'm financially savvy as a result of everything I've learned over the years I'm wondering if you could help me with a question? My retired dad was looking for an electric car and as I've got a salary sacrifice scheme with work it seemed the best way to get an electric car for him. My father said that he would give me the equivalent of the total rental amount in cash as I pay for the car via Salary sacrifice on a monthly basis. I'm obviously the policy holder, with the responsibility for it but my father would be named as a driver (unsure if this is relevant). This amount is around £35k, and I'm wondering if the worst was to happen (father kicking the bucket under 7 years) how would this be treated for tax purposes? As the money is in effect to pay for a good or service, ...

2025-06-04•33mins
#2

Listener Questions, Episode 14

Welcome to another MM Q&A, taking in budgeting rules of thumb, pension tax relief and offshore worker pension contributions, and lots more besides! Shownotes: 01:57 Question 1 Hi Pete, I’ve been a long-time follower of your podcast and hope to be retiring or entering my ‘renaissance’ in the next five years or so. I’d like to know if you think the 50, 30, 20 rule is still a good rule of thumb, or is there a better one? About a year ago, I decided to give a presentation on pensions to the new starters at my workplace. As I prepared, I realised that while I could explain the mechanics and importance of pensions, the bigger challenge would be addressing the feeling many have that they "can’t afford" to contribute due to financial pressures—especially for younger people. Reflecting on my own experiences during university and early work life, I noticed a pattern: no matter how much I earned, I always seemed to end up with zero by the end of the term or month. Earning more didn’t make me happier, and I was going out less compared to when I had very little. A detailed review of my spending revealed I was wasting money on unnecessary things—like buying three CDs instead of two, upgrading to a large coffee when a medium would do, or adding extras to my car that weren’t needed. It was only when I learnt to pay myself first that everything changed overnight. Recently, I’ve been listening to podcasts about retirement that emphasise health, purpose, and happiness. One by Dr. Chatterjee introduced the concept of core happiness versus junk happiness. Core happiness comes from meaningful, lasting fulfilment, while junk happiness provides short-term pleasure through things like sugar, smoking, alcohol, social media, or shopping. Looking back, much of my unnecessary spending was driven by junk happiness. While paying myself first helped control this, understanding the why behind it made a big difference. This led me to realise that my presentation shouldn’t just focus on the mechan...

2025-05-21•46mins
#3

Listener Questions - Episode 13

This week's MMQ&A covered questions on whether you need an emergency fund in retirement, starting late and the mechanics of the residence nil rate band, among other things! Shownotes: Questions Asked 01:03 Question 1 Hello Pete n Rog Thank you for the brilliant podcast which has turned my money management around in four months. I love your banter as much as your expertise. My question is: Do people need an emergency fund in retirement, and if so how big should it be? With DB pensions coming my way I’ll have a guaranteed income so how important is it? Many thanks and keep up the great work Caroline 04:21 Question 2 Hi guys, I’m probably not your usual demographic so I’m not sure if this will be of enough use to your listeners but… Having grown up in what may be classed as modern day poverty (raised on state benefits, single parent family) I had zero financial literacy. This meant that when I started my career as a teacher I opted out of the pension because I “couldn’t afford” to pay into it… yes I know now that was a bad move! I eventually opted back in, but then took big chunks [of time?] out to travel and have children. I divorced and had to leave my career to raise my own children. I’m now 47 and staring into a huge financial hole (as I suspect are many mothers/divorcees). Now it’s not all doom and gloom as I have made a few intuitive moves. I own a large family home and a second property (these are mortgaged), but my worry is actual cash. State pension won’t touch the sides of what I’ll need. What would be your suggestion on how to start accumulating at this late stage? I’ve opened a vanguard pension and make personal and company contributions (I have a tuition business now) but it feels like too little too late as I’ve missed the opportunity for exponential compounding. I can’t work out how to figure out what I’ll need and then reverse engineer the numbers to see if I’ll make it! I have a high tolerance to risk, but Is it just pour as much as possible into th...

2025-05-14•22mins
#4

The Meaningful Money Retirement Guide - Launch episode!

Join Roger as he interviews Pete to celebrate the launch of The Meaningful Money Retirement Guide, asking the questions you want answered! Order The Meaningful Money Retirement Guide: Shownotes: 02:10 Congrats on the new book, Pete - how was it writing this one, compared with the first? 05:39 Why write this book NOW? 07:10 What isn’t in the book that you wish you’d included? Or probably more difficult to answer, is there something that (having completed the audiobook after writing) that you felt it didn’t need? 10:00 How difficult did you find setting out concepts without going too in depth to potentially “lose people” or too simple to make the book not interesting enough? 13:07 How different do you find it writing "evergreen" content in your books vs more topical content for YouTube, and to a lesser degree for the podcast? 16:20 After reading the New retirement book, will it provide knowledge to go alone in retirement without seeking expensive financial advice? 20:05 Does the book help with a ‘soft’ retirement or is it just for those that want to completely stop work on a particular date? 25:00 What will the book offer the reader that I can’t get elsewhere? Is it worth paying for the Academy if I read the book? 28:38 What’s the best thing you would tell your 20yo self? 31:03 Would you lobby government to have PROPER financial teaching delivered to kids in school? How would you package your knowledge for teenagers? 33:22 Pete talks about a new podcast - Bank of Dad - which daughter Kate will host. 35:25 A few people asked: What are Pete’s plans for retirement? Did ‘die with zero’ change them? 38:00 Pete talks about Dave Ramsey and how he brought in different personalities. 41:35 Pete talks about practicing what he preaches.

2025-05-07•44mins
#5

Listener Questions Episode 12 - PENSIONS!

This week we devote an episode of the MMQ&A to pensions of all flavours, answering questions on public sector schemes, partial transfers, fund choices and much more! Shownotes: 00:52 Question 1 Hi Chaps! I only recently got into podcasts and am frantically trying to listen to as many pension ones as I can. Yours are the most useful I’ve come across and now I can’t stop listening to them all! A small question I hope you can clarify for me please: I am 48 and a few years away from possibly an early retirement (hopefully 58) but trying to plan ahead. I have both a DB pension through work (NHS) and a personal Vanguard SIPP pension I also add to monthly and am of the understanding that you can take 25% tax free (up to the set limit) from your pensions overall and therefore my question is- could I take all the 25% tax free amount from my SIPP and leave the rest of my SIPP and all my DB pension pot to pay me a pension from. In example (arbitrary figures): my DB and SIPP are each worth £100000, totalling £200000. Therefore, under current rules, could I take £50000 tax free from the SIPP (the overall 25%) and the other £100000 in DB and £50000 left in my SIPP to pay me a pension monthly. Or is this not possible at all as they are different schemes, ie DB and DC? Many thanks Jon, from Norfolk 05:30 Question 2 Hi Guys, Firstly, a massive thank you for all the information you provide, it really has completely transformed my personal finances. I still have a long way to go until retirement (I've just turned 30) but thanks to you, I'm confident it won't have to be the state pension age! My question is – I work in Local Government and, whilst the salary is distinctly average (37k) it does come with the benefit of a DB pension scheme. I'm now considering making some additional contributions but there are two options available and I'm struggling to find any useful information online… – Make AVCs into what I understand to be a separate pension scheme more akin to a DC pension – Ma...

2025-04-30•37mins
#6

Listener Questions 11 - Capital Gains

This week we answer questions on the loose theme of capital gains tax and investing via General Investment Accounts (GIAs). Spoiler alert - nothing’s as simple as it might seem! Shownotes: 01:06 Question 1 Whenever a question comes up in our Facebook group about Capital Gains and GIAs (General Investment Accounts) I get a sinking feeling as I do not know much about that type of account, and I don’t have one myself. I am not alone. I have gathered questions from our listeners about capital gains, so in this episode Pete & Roger can tell us all about Capital Gains, Dividends, and anything else we need to know about using a GIA, and other situations which involve capital gains tax. 19:03 Question 2 Hi both, I've recently discovered your podcast and have thoroughly enjoyed my commutes listening to you. Personable and informative. I have a question about selling my buy-to-let property that is in my personal name. My mortgage term is ending in June 2026 and I'd like to sell it for one of better quality that has less issues. I'm currently a higher-rate taxpayer but we're planning to start a family in the next year, meaning I'll be on maternity leave for 12 months which will push my salary down to basic-rate. Impossible to plan when I'll get pregnant but it would be useful to know how HMRC calculates my salary (and over what time period) so that I pay basic-rate CGT when selling my buy-to-let? Apologies for a very wordy question! Thanks a lot and best wishes, Winnie 22:17 Question 3 Hi Pete, I hope you're doing well! I’ve been really enjoying the Meaningful Money podcast and had a question I’d love to hear your thoughts on the show: In a general investment account (GIA), is it's better to use an income fund to avoid triggering CGT if income is needed (assuming the dividends covers the needs in the short term)? Thanks so much for your wisdom! And keep up the great work on the podcast! :) Best regards, Chloe 26:53 Question 4 Hi Pete, Roger (and Nick who I assume is reading...

2025-04-23•52mins
#7

What (not) to do when markets are volatile

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

2025-04-16•39mins
#8

Listener Questions Episode 10

As usual, we cover lots of ground in this week’s Q&A, including tax-free cash recycling, private medical insurance and Lifetime ISAs. Shownotes: 00:57 Question 1 Dear Pete & Roger. I'm a long-time listener and love the podcast, especially more so since Roger joined back in season 21. I'm an additional rate taxpayer with income below the threshold for the tapered annual allowance. I have been contributing £45k to my workplace defined contribution pension via salary sacrifice for the last couple of years, and my effective tax relief rate on contributions is 47%. This coming April (2025) I will turn 55 and will be able to access my pension. I am considering increasing my salary sacrifice contributions by £14,000 per year and funding this by taking just under £7,500 PCLS (i.e. tax-free cash) from my pension. Having watched the MeaningfulMoney video on Tax-Free Cash Recycling and checked the HMRC web site, I know this is not considered tax-free cash recycling because the PCLS withdrawals will be below £7,500 per year. However, I don't know if sacrificing £7,500 of tax-free cash in return for £14,000 of new contributions will have any unintended consequences. In retirement I plan to withdraw money via UFPLS and use tax-free cash to minimise my effective tax rate and have no plans to use it to fund large purchases. Have I missed anything? Simon. 04:01 Question 2 Hi Pete, I hope you're doing well! I’ve been really enjoying the Meaningful Money podcast and had a question I’d love to hear your thoughts on the show: With the long waiting times on the NHS, is having private health insurance a new 'must have' protection or still a 'nice to have'? Thanks so much for your wisdom! And keep up the great work on the podcast! :) Best regards, Chloe 07:05 Question 3 Hi guys - thanks for all you do with this podcast. I've been incredibly fortunate to find you in my 20's and absorb so much useful knowledge. My question is surrounding LISA's. My fiancé and I currently live separately b...

2025-04-02•28mins

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#9

Listener Questions, Episode 9

Welcome to another Q&A show - this week we cover tax free cash from DB pensions, annuities vs drawdown and whether you should pay down a buy to let mortgage or invest. Plus quite a bit more! Shownotes: Questions 00:41 Question 1 Hi Pete and Roger. Thanks for your wisdom over the years. My question came about from an answer you gave on a previous Q&A about AVCs and tax free cash. You mentioned it was possible (sometimes) to use AVCs as tax free cash to preserve the maximum DB benefit. I have some follow up questions that relate to - A small DB pension that doesn’t appear to offer tax free cash. - A small DB pension that does offer tax free cash, but I have left that job so can no longer contribute to that pension (AVCs or otherwise) I don’t have AVCs in these pensions, but I do have a DC pot separately. Would I be able to use take tax free money from my DC pension if I took it at the same time I took the DB pension sort of in lieu of the tax free component of my overall pension? I suspect this is clutching at straws, but thought it worth checking. Many thanks. Loyal listener, Mark 03:11 Question 2 Hi Pete & Roger! I hail from Northern Ireland and enjoy your Podcast to keep my mind active and up to date in all things financial - Top job. I have been looking at having a go at Voyant after various spreadsheets of my own as a way to play with the numbers so was considering a meaningful academy course - question is which course is right for me? I am in mid 40's and financially secure so in theory wealth all ready built? Mortgage paid, multiple residential and commercial properties owned debt free and an sizeable equity portfolio and so should I be looking at the retirement or wealth course? John 05:30 Question 3 Great podcast and been an avid listener for the last year. I have a question which, I think I know the answer but I'd be curious on your perspective. Background: - I divorced in 2021 and as part of that agreed to transfer the house over to my ex-wife and a char...

2025-03-26•25mins
#10

Listener Questions, Episode 8

It’s another Q&A, and this week’ we’re talking Lifetime ISA withdrawals, whether you need life insurance and the NHS pensions scheme, among other things! Shownotes: 01:08 Question 1 I just wanted to start by thanking you so much for your podcast. I'm probably one of your younger listeners, having started listening to you when I was 26. I feel very fortunate to have discovered your podcast at such a young age, as it means I will hopefully have years, if not decades, to put your excellent advice into practice. I have a quick question that I was hoping you could help me with. I currently have a LISA that I was planning to use as a deposit for a house. However, I am now planning to move to Australia permanently with my Aussie fiancée. I have separate savings that I can use for a deposit now, but since ISAs are not recognised in Australia while UK SIPPs are, would it be wise to take the 25% hit by withdrawing the money from my LISA and transferring it into a SIPP to benefit from higher rate tax relief and continued tax advantages? I understand you cannot offer specific advice, but I would be interested to hear if there are any general pitfalls or advantages in this plan that I should be aware of. Many thanks! Simon 04:40 Question 2 Will try to keep this brief but is challenging. Do we need life insurance? If I die whilst employed my wife gets a lump sum which will cover our only debt the mortgage through my DB pension scheme. If I retire aged 60-65 my lump sum will cover any mortgage remaining if still have one. My wife has no such pension / cover if she were to die (currently between jobs). I have emergency fund / Overpay into pension for tax relief & child benefit purposes / and recently opened stocks and shares ISA for myself and 2 children. Age 39 trying to build for future but started late :) Many thanks Lee 09:55 Question 3 Many thanks for all the ongoing information and discussion, I’ve been listening for years, but still learning and trying to put into practic...

2025-03-19•29mins
#11

Listener Questions, Episode 7

Welcome to another Q&A show. This week we cover moving abroad, inheritance tax and paying into a pension while drawing from another, and lots more besides! Shownotes: 01:16 Question 1 I’ve been a long time listener for my entire working career and your podcast has been invaluable to getting me to the great position I’m in now. I have recently been offered a very exciting job opportunity abroad (specifically Luxembourg) and I’m thinking about financial issues I might want to cover. I am 29 and have a mid-five figure sum in each of my ISA, LISA, and DC pension in the UK. I hope to save and invest heavily abroad with a FIRE sort of philosophy. I wonder if there are any big things to think about in preparation for a move, or things to do while in the EU that will make a move back easier. I realise this is probably a complex question, and maybe too niche for a podcast episode. I’ve considered getting a one-off consultation with a financial advisor before my move, do you think this would be worthwhile, and if so what sort of service or green flags should I be looking for? (Assuming Jackson’s is not a specialist in this area!) Thank you again! Stuart 06:24 Question 2 Hi Pete, Hi Roger, May I ask a question about pensions now being subject to IHT. My father in law’s strategy for passing on his wealth was to pass on an unused pension, previously protected from IHT, and he had also invested in AIM shares, again also previously exempt from IHT but now subject to 20% tax. He is nearly 82. What options might you suggest for him to consider on either of those points, but in particular the pension point. Draw the pension and gift it? Thank you very much. Love the pod and religious listener! Jo 13:00 Question 3 Hi Pete and Roger, A great many thanks for all that you do towards simplifying personal finance principles. It is with thanks to your guidance that I am living within my means and on a budget with clear financial objectives. My question today is on behalf of a family memb...

2025-03-12•43mins
#12

Listener Questions - Episode 6

In this episode we answer questions about RSU’s, the Cashflow Ladder, Pension vs LISA and a whole lot more! Shownotes: 01:42 Question 1 Hello Pete and Roger. Recently discovered this and am listening to every single episode. Brilliant. I've read a fair amount about the % balance of Equities, Bonds/Gilts and Cash I should have in my retirement pot, based on my age (61). Somewhere in the 40%s for Equities, perhaps. What I am not finding advice on is whether I should include my DB pension in this equation and, if so, how? Do I consider it to be cash? And if so do I use the transfer value or use the predicted annual pension pay-out in some kind of calculation? Thanks for any clues! Best wishes, Phil 11:14 Question 2 I enjoy listening to your podcasts whilst running and I read your book, recommended to me by a financial advisor friend. I’m 37, and early next year I am likely to get around £220k from some shares I hold in the company I work at. If capital gains tax rises, I guess I’ll see, at best, £150k. Any advice on the best place to keep it / invest it for up to 5 years? We plan to then use it to relocate abroad and perhaps set up a lifestyle business such as a B&B. I read about setting up a 'dividend-paying company' which could be useful as it’s often accepted as ‘passive income’ when moving to another country (potentially Portugal or Cyprus). This holding company could pay out whilst growing the savings through managed investing. Is this a potential option for my money? Many thanks, Faye. 19:14 Question 3 Your recent podcast on Helpful Basics: Self-employment and Side Hustles got me thinking about retirement saving vehicles. Specifically, what is the best investment vehicle for a self-employed basic rate taxpayer; a pension or a stocks & shares LISA for retirement purposes? Personally, I am 44 years old and started a LISA from its inception. I am a homeowner. Is it best to maximise LISA contributions until I am 50 years old, then focus on pension contributions? I...

2025-03-05•45mins
#13

YOU CAN Set And Stick To A Budget

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

2025-02-26•48mins
#14

Seven Myths About Money, with Rob Dix

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

2025-02-19•31mins
#15

Listener Questions - Episode 5

We’re back with another Q&A show, with a bit of a DB Pension tilt this time, though we even get into a question on equity release. We cover lots of ground, as always - hope it’s useful! Shownotes: 00:55 As you made a request for questions I thought I'd pose this (apologies in advance for the length, feel free to trim as required): I am single, mid-forties, with no dependents (I do have some family I plan to pass wealth on to, but when they need it rather than leaving it in my estate). I'm aiming for the mystical die with zero. As a home owner, and given I'm not worried about passing it on, would it be a good idea to start drawing on the capital locked up in my home via drawdown equity release (using say home reversion) before the investments in my pension and ISAs given this is the most illiquid and concentrated of my assets? Downsizing isn't really an option to release capital (it's a two-bed semi so property doesn't get much smaller). That said equity release looks to offer rates well below the market value (apparently they want to make a profit), certainly if you're on the younger end of the eligibility spectrum. It's far from the case of selling 50% of the house and getting that amount, even spread over a number of years. I could sell the house myself and rent instead, using the released money to pay the rent (and if the money is invested, provided my rent doesn't rise egregiously, it might even stay ahead of that cost). Though there are potential issues with that approach, certainly over the long term. Are there any other ways to unlock the capital tied up in my property? Regards, Lee 10:20 Hello Pete and Roger. I work in public sector and have a decent DB pension, larger part being final salary and lesser part CARE. I will be able to commute up to 25% with a commutation factor of about 24:1. Which will give me about £180,000 depending on when I leave. Upon retirement I will seek to move most into a 100% equities investment wrapper, I’m fairly happy with pro...

2025-02-12•43mins
#16

YOU CAN be financially prepared for life events

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

2025-02-05•56mins
#17

YOU CAN Learn To Invest

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

2025-01-29•1hr 1mins
#18

YOU CAN Be Good With Money

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

2025-01-22•51mins
#19

Questions & Answers, Episode 4

It’s another Q&A show, and this week we cover managing finances under an LPA, Maternity pay, and what to do with a big windfall, plus lots more besides! Shownotes: 00:58 Big fan of the show. Really appreciate your work. Dad is 92 with rapidly declining health (Dementia and mobility issues). He is still living at home with Mum (80) who is caring for him with family help. At the moment, it is about manageable. I am managing their finances. We have moved the majority of savings into my mum's accounts. I have used up mum's entire ISA allowance for this year. There is still around £38k of savings sitting in a no interest paying Barclays account. Due to their ages, I do not want to tie up the cash for too long, though at this point in time, they do not need to use this money as they are still able to live off my Dad's pension. Can you suggest how I might manage this chunk of cash? Possibly a simple savings account, but I am aware that the interest rates are not exactly brilliant, and I wonder about moving into a GIA instead (I have moderate experience buying/selling shares in my own SIPP and ISA, though I am personally high on the risk curve with investments heavily in MSTR and TSLA). Any advice would be appreciated. Cheers, Rich 05:08 Love the podcast (obviously!), it’s genuinely very helpful and has really helped me get my stuff together!!! Not sure if this is something you’d know about but, do you think you would be able to explain to me in your very listenable way, how to work out maternity pay, as in how it’s actually calculated and how to plan to make up the difference etc plus anything else that might be helpful that I don’t even know that I don’t know!! I can’t really find what I’m looking for anywhere else so just thought I’d ask as I find your explanations of things easy to understand (and could listen to you chat about anything tbh)!! Thank you! Jess 12:16 Thanks so much for your brilliant podcasts. I love the idea of the question and answer ones! I have a f...

2025-01-15•33mins
#20

Questions & Answers, Episode 3

Good to be back with another Q&A show to kick off the new year. This week we cover, ETFs, Pension contributions for high earners, tax relief for non-earners and lots more besides. Shownotes: 02:21 First of all I have to thank you for the many years of enlightening listening that I have enjoyed. I thought it was excellent when Pete created the content, however it only improved with the addition of Rog. Yours is by far the best personal finance podcast that I listen to, and long may it continue. My question revolves around index funds & ETF’s. Many of the American podcasts cite the advantages of ETF’s over traditional index funds (unit trusts) however from what I understand this is due to tax considerations which apply in the US & not here. Please could you confirm if this is the case. I use a Vanguard index fund (unit trust) and wish to continue doing so, however am I missing out on not using ETF’s? Thanks again for all that you do for us, your listeners. Best wishes, Steve Horton 07:32 Love the podcast! I’m trying to understand what I can pay into my workplace pension. I’m close to £180k on my P60 & have no other income. My firm pay 6% into my pension, I then pay 6% which they also match. In addition I contribute another 2% so 20% in total, approx. £27k for a Pension Input Period. Feels like I have a relatively simple setup but I’m worried about breaching any limits around the £60k. Do I really need advice as I feel like I should be able to work this out myself! Thanks Steve D 11:26 I am 38 and 4 years ago came into a large sum of money (£600k). My wife and I were in decent shape with a manageable mortgage, life/CI insurance, decent pension balances. I opted to not employ a financial advisor, mainly because I was wary of fees. I am now questioning my decision. I have slowly been putting the money into my SIPP and ISA, keeping the rest in a GIA (invested in global index - Vanguard), paying the tax on dividends and, with time, capital gains. Also been using my wife...

2025-01-08•38mins
#21

Helpful Basics -Combining Pensions

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

2024-11-27•37mins
#22

Helpful Basics: The Financial Advice Process

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

2024-11-20•55mins
#23

Listener Questions - Episode 2

It's time for another listener Q&A! This time we cover paying off student loans, old pensions, alternative to pensions and ISAs and much more. Shownotes: 00:40 Sophie - My question is that I am about to start earning a lot more than I thought I was as a graduate. I have always been told to ignore my student loans by my parents as it's essentially a tax, but looking at some calculators I would pay it all off in 25 years before it gets cleared and pay more than double the £45,600 in interest. I'm thinking of trying to overpay it off more quickly than that as it seems very big to have especially with 7.3% interest rate. I'm not sure if I should prioritize this, as I could start now, but as I'm starting work I'm still very uncertain of what to save and how I should treat this debt. Or should I not worry about it this early on? 06:55 Ellie - My partner recently traced a pension from an old employer. When he contacted the company they told him the pension was all paid out to him when he left the company, 9 years ago. He was 28 at the time. Is that possible? I believed it wasn't possible to access pensions until 10 years before state pension age. The exceptions I'm aware of (certain types of job/illness) aren't relevant here. I can't believe this pension would have had particularly special properties. It was while he was working for Experian. He doesn't remember receiving a lump sum, and is checking with his bank (it's too far back to see online). Did the person he spoke to just make a mistake? He is reluctant to go back to them without anything concrete, and it is hard to trust what they say. Any advice on what to do next? 12:15 Joanne - I am a higher rate tax payer and contribute to a SIPP on top of my employer pension (very generous DB scheme) to keep my earnings underneath £100k so that I can benefit from free childcare hours and about the 60% tax trap bracket between £100-£125k. However, I am now breaching the annual £60k pension allowance and so end up paying sign...

2024-11-13•29mins

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#24

Helpful Basics: How to be intentional

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

2024-11-06•41mins
#25

Helpful Basics: Pension vs ISA

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

2024-10-30•46mins
#26

Helpful Basics: Self-employment and side hustles

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

2024-10-23•42mins
#27

Helpful Basics: Credit Files and Credit Scores explained

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

2024-10-16•35mins
#28

Helpful Basics: Behaviour Is Everything

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

2024-10-09•55mins
#29

Listener Questions - Episode 1

It’s our first dedicated Q&A show! Roger and Pete answer six great questions from YOU - the listening audience. Shownotes:

2024-10-02•39mins
#30

Helpful Basics: The State Pension

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

2024-09-25•37mins
#31

Helpful Basics: Choosing Your First Investment

Today in our Helpful Basics season, we’re going to talk about choosing your first investment. Lots to cover, but should be fun! Shownotes:

2024-09-18•1hr 0mins
#32

Helpful Basics: What you need to know when you start work

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

2024-09-11•1hr 9mins
#33

Bridging the Advice Gap, with Alastair Ford

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

2024-08-21•37mins
#34

Health, Wealth and Happiness with Dave Algeo

Today I’m joined by my friend Dave Algeo a mid-life health coach to talk about the link between health and wealth and lots more besides. Shownotes: Dave’s Daily Sprout email:

2024-08-14•46mins
#35

Big Mistakes: Worrying About Care Fees

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

2024-08-07•49mins
#36

Big MIstakes: Not Spending Enough

Today, in the penultimate episode of this series, we’re talking about the Big Mistake of Not Spending Enough, which might surprise some people! Shownotes:

2024-07-31•39mins
#37

Big Mistakes: Neglecting Reviews

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

2024-07-24•35mins
#38

Big Mistakes: Waiting Until...

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

2024-07-17•28mins
#39

Big Mistakes: Behaving Badly

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

2024-07-10•43mins
#40

Big Mistakes: Ignoring Later Life Planning

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

2024-07-03•52mins
#41

Big Mistakes: Taking Too Little Risk

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

2024-06-26•41mins
#42

Big Mistakes: Ignoring Costs

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

2024-06-19•37mins
#43

Big Mistakes: Starting Late

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

2024-06-05•37mins
#44

Big Mistakes: Listening To The Wrong People

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

2024-05-29•38mins
#45

The Four Cornerstones of Financial Wellbeing, with Chris Budd

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

2024-04-10•50mins
#46

Big Ideas: Do you need advice?

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

2024-04-03•50mins
#47

Big Ideas: PIPSIO - The Order Of Financial Priorities

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

2024-03-27•38mins
#48

Big Ideas - Time IN The Market

Today we’re covering a classic piece of financial advice - definitely a Big Idea of investing: Time IN the market, not timing the market! Shownotes:

2024-03-20•35mins
#49

Big Ideas: Planning Over Products

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

2024-03-13•46mins
#50

Big Ideas: Prioritising Today

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

2024-03-06•29mins

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Download herd and enjoy uninterrupted, high-quality podcasts without the wait.

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