The Meaningful Money Personal Finance Podcast

What if you want to invest according to the principles I’ve talked about over the past few weeks but you can’t be bothered with all the research and reviewing that this takes? This week we’re going to talk about off-the-shelf investing; the lazy person’s guide to investing well! Podcast: Subscribe in iTunes | Play in new window | Download Sponsor Message This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I’m doing, trying to get decent, easy-to-understand financial information out to the world. I’m very grateful to them for their support. You can see what they’re up to at 7im.co.uk The lazy person's guide to investing I make no apology for admitting that in some areas of my life, I am a bit lazy. Don’t get me wrong, I work hard, and I hardly ever watch TV, but I don’t like spending time on things that don’t interest me. And despite what you might think for someone who preaches on this show about investing every week, I’m not even remotely interested in managing my own investments. I know that some people are, and that’s why I love to give out information, including LHTI, to help those folks. But what if you’re like me? What if you want to take the path of least resistance and still invest according to the best practice of things like asset allocation, managed volatility and all that jazz? This show gives you the lazy person's guide to investing... In this session, you'll discover: How to tap into economies of scale What it is you're really buying when you go off-the-shelf How and why to keep the costs down The first thing you need to do when investing this way Which investment sectors to look in for these types of funds How to find the right funds The main measure to filter the available funds Resources mentioned in this week's show Risk Measurement: myrisktolerance.com Video: Active vs Passive Investing Podcasts: Season 2, Episode 2, and Season 2, Episode 3 And of course, there's a full transcript of the show available by clicking the big blue button below!  Join the conversation I love to read and respond to your comments, so please do join in and share. Question: Are you a keen investor or a lazy investor?! Share the love If this show is of any use to you, it would help me massively if you would take the time to leave me a review on iTunes. This has a huge impact on keeping me near the top of the rankings, which in turns helps more people to find the show and to subscribe. Just click the button below:

If you build a portfolio right at outset, it should - I believe - largely look after itself. But you should still keep an eye on it of course. In this week’s show I’m going to be covering the basics of how to review your portfolio as the years go by, to ensure it still serves the purposes you set for it.   Podcast: Subscribe in iTunes | Play in new window | Download Sponsor Message This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I’m doing, trying to get decent, easy-to-understand financial information out to the world. I’m very grateful to them for their support. You can see what they’re up to at 7im.co.uk How to review your portfolio Reviewing a portfolio has the potential to be a bit like annually clearing out the garden shed - not a job you look forward to, and maybe one you keep putting off. Perhaps you haven’t cleared out the shed in a very long time… But while reviewing your investments is important, I also want to downplay it a little bit. A lot depends on your interest in matters of investing, and how hands-on you want to be. Fortunately, there are options for everyone, so let's look at how to review your portfolio... In this session, you'll discover: The difference between a portfolio and a financial plan What I think about benchmarks Why your definition of success is the only one that matters How often you should review a portfolio and when you should conduct ad-hoc reviews Why context is so important when reviewing your portfolio That rebalancing is a key discipline That it is vital to have good decision-making structures in place Resources mentioned in this week's show Podcasts: Sessions 154, 155 and 156 - all about building Net Worth Podcasts: Sessions 108, 109 and 118 - all about making good financial decisions Other shows: Money To The Masses and Informed Choice Radio   Join the conversation I love to read and respond to your comments, so please do join in and share. Question: When was the last time you reviewed your portfolio? Be honest! Share the love If this show is of any use to you, it would help me massively if you would take the time to leave me a review on iTunes. This has a huge impact on keeping me near the top of the rankings, which in turns helps more people to find the show and to subscribe. Just click the button below:

Last week we looked at choosing a platform, and I said that a platform was essentially just an admin system which allows you to hold different kinds of accounts . But which tax wrapper is best for which situations? This week we're looking at choosing the right account... Podcast: Subscribe in iTunes | Play in new window | Download Sponsor Message This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I’m doing, trying to get decent, easy-to-understand financial information out to the world. I’m very grateful to them for their support. You can see what they’re up to at 7im.co.uk Choosing the right account I’ve said countless times on this show that simple is best. I come across clients with lots of different tax wrappers with loads of different providers, and with no cohesive strategy for how these disparate plans are intended to achieve their aims. Most people need two kinds of accounts, or tax wrappers: one for medium term savings, and one for longer term. Let’s dig into that now, and look at everything you need to KNOW and everything you need to DO, to choose the correct tax wrapper for the job… In this session, you'll discover: That different accounts serve different purposes That tax is an important factor in the choice Why compounding is possibly the most important factor of all That timescale is an easy factor to make a high-level choice Which investment limits to look out for Why it isn't always necessary to choose  one account over another Resources mentioned in this week's show Podcast: Season One, Session 80 - Pension or ISA?     Try Audible for Free Free email course - Learn How To Invest   Join the conversation I love to read and respond to your comments, so please do join in and share. Question: Which account(s) are you saving into?  Why did you choose one over the other? Share the love If this show is of any use to you, it would help me massively if you would take the time to leave me a review on iTunes. This has a huge impact on keeping me near the top of the rankings, which in turns helps more people to find the show and to subscribe. Just click the button below:

Last week we talked about asset allocation and choosing the right kinds of assets and funds to invest for your future. These days, most people invest via something called a platform. This week I’ll be looking at why that is the case, whether or not that approach is right for you, and what criteria you should look at when choosing a platform.   Podcast: Subscribe in iTunes | Play in new window | Download Sponsor Message This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I’m doing, trying to get decent, easy-to-understand financial information out to the world. I’m very grateful to them for their support. You can see what they’re up to at 7im.co.uk Choosing a platform Now I have looked at platforms before in Season One of this show. Listen back to Sessions 11 and 75. These will give you some more depth if you want to add to today’s session. But by the end of today’s episode, you should be have everything you need to know and everything you need to do to when choosing a platform. In this session, you'll discover: What a platform really is How to choose one over the other (hint: it's pretty subjective) The key differences between adviser platforms and direct to consumer (D2C) platforms Why you should do your homework before choosing your platform The charges you need to look out for Why it's OK to dip your toes in and try a platform out... Resources mentioned in this week's show Podcast: Season 1, Session 11 - Platforms, Wrappers and Funds Podcast: Season 1, Session 75 - Direct Investment Platforms with Mark Polson Podcast: Season 1, Session 125 - The Rise of the Robo-Adviser, with Al Rush Download: Pricing guide to direct platforms, from The Lang Cat Previous episodes in this season Podcast: Season 2, Episode 1 - Why Invest? Podcast: Season 2 Episode 2 - Risk, Volatility & Timescale Podcast: Season 2 Episode 3 - Know Yourself: Risk Tolerance & Risk Capacity Podcast: Season 2 Episode 4 - Practical Asset Allocation Try Audible for Free Free email course - Learn How To Invest   And of course, there is a full transcript available by clicking the big blue button below: Join the conversation I love to read and respond to your comments, so please do join in and share. Question: Have you chosen a platform? What made up your mind which to use? Share the love If this show is of any use to you, it would help me massively if you would take the time to leave me a review on iTunes. This has a huge impact on keeping me near the top of the rankings, which in turns helps more people to find the show and to subscribe. Just click the button below:

Asset allocation is a subject we’ve covered at various times here on MeaningfulMoney as it is a core tenet of successful investing. But how do you apply it in real life to your investments? Is there such a thing as a ‘correct’ asset allocation? Let’s find out…   Sponsor Message This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I’m doing, trying to get decent, easy-to-understand financial information out to the world. I’m very grateful to them for their support. You can see what they’re up to at 7im.co.uk Practical Asset Allocation Last week we talked about risk tolerance and risk capacity, and I suggested that you should maybe get your own risk tolerance measured over at myrisktolerance.com and then  conduct a couple of thought experiments to see where you might sit. That’s entirely theoretical though, and it may be the case that only once you have some skin in the game, i.e. some real money invested, that you’ll really know how you will cope with the inherent risk that comes wth investing. But how do you apply the theoretical to the real world? Let’s try to give you a start… In this session, you'll discover: What Asset Allocation is, and how it works The difference between Strategic and Tactical Asset Allocation, and why you should embrace one and ignore the other That there's no such thing as an optimal asset allocation Why you should start simple and build up carefully What kinds of funds you should actually buy to populate your asset allocation The off-the-shelf solution which will save you a load of work Resources mentioned in this week's show Risk Profiling: myrisktolerance.com Podcast: Season 2, Episode 1 - Why Invest? Podcast: Season 2 Episode 2 - Risk, Volatility & Timescale Podcast: Season 2 Episode 3 - Know Yourself: Risk Tolerance & Risk Capacity Try Audible for Free Previous Posts on Asset Allocation Podcast: Asset Classes, or stuff you can invest in Podcast: Investment Masterclass: Asset Allocation Videos on each asset class Cash    Gilts    Corporate Bonds    Shares    Property    Commodities     Gold    Hedge Funds    The Rest Free email course - Learn How To Invest   And of course, there is a full transcript available by clicking the big blue button below: TRANSCRIPT COMING SOON! Join the conversation I love to read and respond to your comments, so please do join in and share. Question: How have you set up your asset allocation? Share the love If this show is of any use to you, it would help me massively if you would take the time to leave me a review on iTunes. This has a huge impact on keeping me near the top of the rankings, which in turns helps more people to find the show and to subscribe. Just click the button below:

Last week we talked about risk and how it relates to the timescale of your investments and the underlying volatility of the portfolio you build. Today I want to clear up, once and for all, some confusion about risk tolerance and risk capacity. This is essential to your investing success, so tune in…   Podcast: Subscribe in iTunes | Play in new window | Download Sponsor Message This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I’m doing, trying to get decent, easy-to-understand financial information out to the world. I’m very grateful to them for their support. You can see what they’re up to at 7im.co.uk Risk Tolerance & Risk Capacity For novice investors, risk can sound exciting, because they have heard that rewards accompany risky investments. For those in later life, perhaps with some investing miles under their tyres, risk is something to be wary of, if not avoided entirely. There are two major factors you need to consider when thinking about the risk you should take with your investments, and that’s what I’m carefully going to go through with you today. This might be the most important episode in this season, so pay close attention. In this session, you'll discover: That Risk Tolerance and Risk Capacity are two very different things One is your emotional ability to cope with investment loss, and The other is your financial ability to cope with investment loss. When a loss is not really a loss The best place to get your own risk tolerance measured A thought experiment to determine how you might react in certain circumstances Resources mentioned in this week's show Risk Profiling: myrisktolerance.com Podcast: Season 2, Episode 1 - Why Invest? Podcast: Season 2 Episode 2 - Risk, Volatility & Timescale Try Audible for Free Free email course - Learn How To Invest     Join the conversation I love to read and respond to your comments, so please do join in and share. Question: What was your risk tolerance? Were you surprised with the result of the test? Share the love If this show is of any use to you, it would help me massively if you would take the time to leave me a review on iTunes. This has a huge impact on keeping me near the top of the rankings, which in turns helps more people to find the show and to subscribe. Just click the button below:

Investing can be scary, not least because of the frequent use of words like risk and volatility. But these are just mechanisms to be explained and understood, just like anything else. If you understand them, you can harness them to your advantage. And that’s what I’m going to help you to do today.   Podcast: Subscribe in iTunes | Play in new window | Download Sponsor Message This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I’m doing, trying to get decent, easy-to-understand financial information out to the world. I’m very grateful to them for their support. You can see what they’re up to at 7im.co.uk Risk, Volatility and Timescale Last week I said that one of the differences between saving and investing is risk. Money saved in a bank account is essentially risk-free. You know that the money will always be there, unless the bank itself goes under, which doesn’t happen that often. Investments, by contrast, have converted cash into real assets like shares, bonds, gold and property. Those things always carry an element of risk, and we need to understand how this works so that we can make the most of the opportunities which always accompany risk… So, as usual, let’s look at what you need to KNOW first, then what you need to DO… In this session, you'll discover: The four main risks when it comes to investing Why volatility is not the same as risk Why you should be very wary of averages Why timescale is a key factor when deciding risks How to smooth out risk (to some degree) with cost-averaging The three key methods for managing risk Resources mentioned in this week's show Podcast: Why Invest?   Try Audible for Free Free email course - Learn How To Invest     Join the conversation I love to read and respond to your comments, so please do join in and share. Question: Have you had any bad experiences when investing - what went wrong? Share the love If this show is of any use to you, it would help me massively if you would take the time to leave me a review on iTunes. This has a huge impact on keeping me near the top of the rankings, which in turns helps more people to find the show and to subscribe. Just click the button below:

Here in the UK we’re in the aftermath of the referendum vote to leave the EU, and stock markets are very volatile. Headlines are screaming about billions wiped off the stock market. The pound is suffering compared with other currencies. With all these concerns, isn’t it better to keep your money where it is safe, say under the mattress or in a high-interest savings account? Why invest at all? Today I’m going to answer that question... Podcast: Subscribe in iTunes | Play in new window | Download Sponsor Message This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I’m doing, trying to get decent, easy-to-understand financial information out to the world. I’m very grateful to them for their support. You can see what they’re up to at 7im.co.uk Why invest? It seems to be assumed that investing is THE way to become wealthy. There are far more column inches dedicated to choosing the right funds or tax wrappers than there are listing the best high-interest accounts. Probably because there are no really high-interest accounts these days. But why invest at all? As usual, I’m going to look at what you need to KNOW first, followed by what you need to DO, assuming you decide that you should consider investing some of your heard-earned cash. In this session, you'll discover: Why the current unprecedented times are heralding a new normal The difference between saving and investing, and why it matters The relationship between risk and reward Why you must have a why (for investing) The importance of educating yourself Some books, podcasts and websites you can use to do just that How much you should invest Resources mentioned in this week's show Book: Money, Master the Game, by Tony Robbins Book: The Automatic Millionaire by David Bach Podcast: Money To The Masses, with Damien Fahy Website: FinancialMentor.com Free email course - Learn How To Invest   Join the conversation I love to read and respond to your comments, so please do join in and share. Question: Do you have any concerns or questions about investing? Share them in the comments section below... Share the love If this show is of any use to you, it would help me massively if you would take the time to leave me a review on iTunes. This has a huge impact on keeping me near the top of the rankings, which in turns helps more people to find the show and to subscribe. Just click the button below:

So, the UK voted leave the European Union. Whatever your view on this, we are where we are. But what does it mean for your pensions and investments? That’s what I’m going to attempt to cover in this week’s show. Podcast: Subscribe in iTunes | Play in new window | Download Sponsor Message This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I’m doing, trying to get decent, easy-to-understand financial information out to the world. I’m very grateful to them for their support. You can see what they’re up to at 7im.co.uk Brexit - what next? I’ve been intentionally quiet on my views about Brexit. For what it's worth, I voted to Remain and am disappointed by the vote. I’m not wallowing in self-pity though - it’s time to move on. It remains to be seen what our leaders will do. Will they pull their fingers out, put aside their personal agendas and grasp the nettle? We’ll see. I want to look at what we know about the future, and what we don’t but more important what you should and shouldn’t do in light of the decision to leave the EU. In this session, you'll discover: Why I'm still pretty bullish about the UK economy - we're coming from a pretty good place That there's a world of value to be had for investors outside the UK Why I hate the media's reporting, particularly of market movements Why diversification is still the best strategy Why you should hold your nerve That there may even be opportunities in the volatility, if you have money you're prepared to lose. Why you should always focus on the long term Why you should review your portfolio, and what might trigger you to change things. You know that Ill never sugar-coat what I think is happening. Too many of you are tuning in, and too many of you know where I live for me ever to tell you anything other than what I perceive to be true. Finally remember that unlike the journalists touting scare-stories all over the media, I have to sit at my clients’ kitchen table and look them in the eye wheel I tell them that their portfolios have dropped in value. I also get the joy of telling them that their dreams need not be parked for the foreseeable future because we have planned for the volatility. I am doing this day in, day out, watching the markets, reassuring clients who trust me with £120 million or so of their money. Resources mentioned in this week's show Course: Learn How To Invest - sign up here to be notified when the next course is launched Work with Pete: Click here to find out more about how you and I can work together directly