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Simplify Your Behaviour

The Meaningful Money Personal Finance Podcast

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Understanding Insurance Bonds and Taxes

The hosts answer a listener's question about insurance bonds, discussing the annual charge, tax implications, cashing in options, and advantages of insurance bonds. They clarify that investment bonds fall under the income tax regime rather than capital gains tax, and highlight their benefits for individuals in lower tax brackets. The chapter provides insights on getting money out from an investment bond, the 5% withdrawal rule, and potential tax implications.

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