Making Money

Amy bravely shares her journey of losing nearly £20,000 in investments. She reflects on her working-class upbringing and initial forays into investing. Experiencing the emotional rollercoaster of her portfolio's rise and fall during COVID, she reveals the regret that came from panic-selling. Turning to online communities for support, Amy discusses the dangers of influencer-driven investing and the impact of social reassurance on risk-taking. Ultimately, she advocates for a cautious, educated approach to rebuilding her financial strategy.

William J. Bernstein, an influential author and investment theorist, shares his journey into investing and the importance of a scientific approach. He highlights behavioral biases as the greatest investment risk, offers practical advice for young investors, and compares TIPS with annuities for retirement. Bernstein argues for broad global indexing to maximize gains and emphasizes that investing should focus on avoiding poverty rather than seeking wealth. He also discusses the risks of cryptocurrency and offers insights on market psychology.

In this engaging discussion, Andrew Craig, a personal finance author and investment advisor, shares insights from his latest book tailored for younger readers. He highlights the transformative power of compounding and the importance of understanding money. Craig stresses the need for a balanced investment strategy, particularly the 100-minus-your-age rule. He also delves into capitalism's role in problem-solving and critiques the impacts of ETFs on market dynamics. His concrete proposal for revitalizing the UK capital markets could spark significant change.

In this discussion, Helen Miller, Director at the Institute for Fiscal Studies, shares her insights on the recent budget's implications. She analyzes the winners and losers, highlighting families benefiting from changes while others face tax hikes. Helen critiques the government's unclear growth narrative and the challenges facing public services. She also warns about the complexities of tax reforms and the impact of fiscal drag. Finally, she emphasizes the need for systemic reform and encourages citizens to engage in policy discussions.

Get ready for insights as a special budget discussion unfolds! The Director for the Institute of Fiscal Studies, Helen Miller, joins to break down the latest financial strategies. Expect a deep dive into budgeting essentials and how fiscal policies impact your wallet. Stay tuned for this eye-opening conversation that promises to equip you with practical money tips!

In this discussion, financial planner Tom Ashworth shares valuable insights on self-employment. He provides practical advice on when to set up a limited company, covering key factors like profit retention and tax efficiency. Tom also tackles budgeting for fluctuating incomes and explains the importance of understanding business expenses. He highlights strategies for withdrawing funds from a company while maintaining compliance. Finally, Tom compares pensions and ISAs for self-employed individuals, making complex topics accessible and actionable.

Torsten Bell, the Pensions Minister and former think-tank director, discusses the urgent need for reform in the UK pension system. He highlights that nearly 45% of working-age individuals save nothing for retirement. Bell advocates for the revival of the Pensions Commission to address gaps in current policies. He raises concerns over the challenges facing self-employed savers and the importance of diversifying pension investments. The conversation emphasizes enhancing retirement income security while navigating evolving state pension ages and long-term sustainability.

Tom McPhail, a pensions expert known for his insights on UK retirement policy, delves into the current pension crisis. He reveals how demographic changes and low private savings are straining the system. McPhail discusses the reluctance of governments to make tough long-term decisions and the potential for a depoliticized pensions commission. He also explores innovative ideas for incentivizing investments, increasing the state pension age, and reforming tax relief to ensure a sustainable future for retirees. This engaging discussion sheds light on the challenges ahead.

Toby Newbatt, a personal finance YouTuber known for his investing insights, joins the discussion on market bubbles and valuations. He dives into why fears of an AI or ‘everything’ bubble are emerging. Toby emphasizes the importance of long-term investing, despite market noise, and explains the Shiller CAPE and its limitations. The conversation also covers why diversifying investments is key, the risks in tech concentration, and how emotional pitfalls can affect trading decisions. Toby stresses that understanding personal risk tolerance is crucial in today's uncertain market.

Nobel Prize-winning economist Joseph Stiglitz, known for his insights on market failures and inequality, dives deep into issues surrounding freedom and exploitation. He critiques neoliberalism for diminishing freedom while benefiting a few. Stiglitz discusses the balance between public safety and personal liberties, highlighting the legitimacy of wealth versus exploitative practices. He advocates for reforms like a global minimum wealth tax and emphasizes the importance of public goods in expanding freedom. Hope rests in political pushback and the engagement of youth in democracy.