The Meaningful Money Personal Finance Podcast

Most of us leave our retirement savings later than we should. The best way is to start saving as early as possible, but how many 20 year olds do you know who are planning for their retirement?! But if you have left it late, all is not lost, and in this session I’ll be giving you some top retirement savings tips to help you catch up…   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 Retirement savings tips for late starters So, you’ve hit your 40s, or even your 50s and you realise with a gulp that you haven’t taken your retirement savings very seriously thus far. It’s time to take action, and while it might seem like you have a mountain to climb, there’s no better time to set off climbing than right now. You’ll need to strap in though, and get serious. But you can do that. After all, it’s your future on the line. So, as usual, I’ll cover a couple of mindset things you need to know first, and then spend the rest of the time looking at some practical things you can do to achieve you goal of retiring before you hit age 85. In this session, you'll discover: That it's never too late, but that the right time to start is NOW! That you are the only person who really cares about your own future comfort The biggest hurdle to jump BEFORE you can save effectively towards retirement How to make savings increase over time, on auto-pilot The power of reducing outgoings, and where to do that first That you can find money in all sorts of places you can put towards your future How to get free money towards your retirement The biggest factor working against your savings success I’ll say it again: it is never too late to make strides towards funding your retirement. The later you have left it, the more sacrifices you’ll need to make, but this is your future comfort we’re talking about, and the retirement savings tips discussed in this show are worth following up. You don’t have to live like a monk now, but I am reminded of Dave Ramsey’s favourite saying: Live like no-one else, so that later, you can live like no-one else. If you’re concerned about anything, leave a comment below. Resources mentioned in this show Video: Pay off debt quickly with the Debt Snowball Podcast: Making More Money Podcast: Direct Investment Platforms Podcast: How much do I need to retire, with Todd Tresidder Website: FinancialMentor.com (Todd's site) As ever, a full transcript is available - just click the enormous 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 late in starting saving for your retirement? What steps are you taking to catch-up? Share the love Hugs and kisses to ACSWL, Lawrence Pease and davidnicholas59 for their reviews this week - much appreciated folks! 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 have pensions or investments, what if your provider fails? Do you lose everything? What protections are there in place? In this week’s show, I’ll be looking at what happens when it all goes wrong. 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 What if your provider fails? Today’s financial landscape is more complex than it has ever been. We’ve got platforms, wrappers, funds, trusts, and lots of different levels of investment. You might hold some shares within a fund, within an ISA held on a platform. That’s four levels of custodianship! But what happens if one or other of those providers goes belly up? While unlikely, it cannot be discounted, as the financial crisis of 2007/8/9 taught us. Prior to that, this ‘what happens if’ question was largely theoretical. But then people started losing money in Icelandic banks, and stuff got real. So we need to understand what protections are in place for investors - UK investors of course - and look at some principles for making sure you’re as protected as possible, wherever you live. In this session, you'll discover: How the Financial Services Compensation Scheme works, and its limitations Why it's important to understand who owns what? The simplest way to make sure your investments are always protected Why two different banks are not always two different banks Why you shouldn't lose too much sleep The one thing you definitely shouldn't do in a bid to protect your money I think that as with all things to do with worst-case scenarios, you should be knowledgable, but not let any of it drive your actions too much. It can be pretty hairy, handing over your hard-earned dosh to someone else to look after, but we do live in a developed part of the world with various protections in place. You must exercise caution and do your research, and then, to a certain extent, trust the system to look after you, as it has for countless people before you. If you’re concerned about anything - either email me or  leave a comment below.

In any sphere of life, there are things which are big news one day, then fade away the next, and then there are the timeless things which stand the test of time. This follows in personal finance too, and today I’ll be looking at some financial fads and fashions, as well as some timeless truths for those looking to increase their wealth. 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 In this session: There is so much marketing in personal finance, and so many conflicting voices telling you what you need to know and what you need to do, ahem, that it can be hard to know what is true and permanent. You want to avoid these short-term financial fads and fashions, and I’m here to look at some examples and show the timeless alternatives which have stood the test of time, and crucially, how to tell the difference. In this session, you'll discover about financial fads and fashions, and: What constitutes a 'hot' investment and why they come and go We we often fall for these marketing messages The difference between a legitimate tax-saving scheme, and one which will be scrutinised by HMRC My pet-hate funds of the moment and why they're not delivering on their promises The two common-sense rules of thumb which will help you avoid being taken in Why it is essential that you know what you're really invested in You are responsible for your own wealth. You might hire an adviser - a good idea - to help you make big decisions, but it’s your money at the end of the day and you have to take ownership. Do your homework and take you time with all decisions. If you’re concerned about anything - either email me or  leave a comment below.   Join the conversation I love to read and respond to your comments, so please do join in and share.  Question: Have you invested in any of the fads and fashions I talk about this week?

It’s a New Year, a time for taking stock, planning ahead and getting motivated. Today I have eight questions for you to ask yourself at the head of the year. Questions to help you focus you attention on your financial health this year. 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 In this session: Back in New Year 2014 (when I had also just moved house, co-incidentally) I did a session on goal setting. Obviously it is the time of year to do sessions like that, and that session is worth going back over, but this year I want to do something a little different and give you some questions to ask yourself to get you thinking about what you want to achieve this year and how you might go about it. Here are the eight questions: What is going to be important to me this year? How am I going to prioritise these things each day/week/month? What was important to me last year, and did I succeed in prioritising these things? What can I learn from 2015 that I can apply in 2016? What are my financial goals right now? Can I stretch these goals more than I already am? How can I earn more money in 2016? How can I give more in 2016? So, just a few questions to start the year off in the right frame of mind and to set yourself on a track to financial success and abundance this year. I’d love to know how you have answered these for yourselves, so do leave a comment below: ***A full transcript will be available shortly - check back soon (Out of routine for the New Year, sorry!)*** Resources mentioned in this show Podcast: Session 42 - New Year Goals: Set them and stick to them Podcast: Session 137 - Making More Money Join the conversation I love to read and respond to your comments, so please do join in and share. Question: How have you answered these questions for yourself? What have you decided as a result?

For the month of November I conducted a survey of you, my excellent listeners and readers, to find out more about you and about how I can serve you better. In this week’s show, I’m going to take a look at those results and let you know what they mean for this show and the site in 2016.   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 In this session: OK. The survey took on average two and a half minutes to complete, so you may wonder just how much information I can glean from such a short survey. But, I have been reading, folks. And those questions were very carefully chosen for maximum effect, so let’s look at the stuff I got to KNOW about you, my lovely audience, and then we’ll look at what I’m going to DO with that information. In this session, you'll discover: The age range of my listeners How much you're worth!! Where in the world you are based Your employment status The stage in your financial lives that most of you are at right now What I plan to do with the MeaningfulMoney content next year The courses I'm aiming to produce BIG news for would-be investors Resources mentioned in this show Course: Learn How To Budget on Udemy Register your interest: 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 do you want to read/hear/learn about in 2016. Let me know and I'll do my best to cover it! Share the love Hugs and kisses to JackNassisBaby, Steege77 and ap_in_dc for their reviews this week - much appreciated folks! 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:

This week, I answer a listener question about preparing for self-employment. You may also recall the session from a couple of weeks ago about adding a sideline income - this week’s show will help with that too…   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 In this session: Regular listener Andy wants to know what he might need to put in place before going self employed, particularly bearing in mind that he may not be able to draw a regular monthly income at least in the early stages of his business. In this session, you'll discover: The easiest thing to forget when you're preparing for self-employment The one thing you'll need to to do to survive as a self-employed person Why it might be best to start with some money behind you One big decision which will dictate your tax situation Why it is so important to keep good records form the start Some things you should be sure of if you're working from home The insurance you should think about What you need to know about pensions, and... Why you need to register with NICO. Resources mentioned in this show Book: Emyth Revisited - Michael Gerber Accounting software: FreeAgent Accounting software: Xero Podcast: Auto-enrolment Website: Gov.uk - registering as self-employed Join the conversation I love to read and respond to your comments, so please do join in and share. Question: Are you preparing for self-employment? If so, what steps have you taken? Share the love No reviews this week due to recording a couple of shows in quick succession. 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:

I will always bang the drum for advice, and while I obviously have a vested interest in doing so, I’m absolutely convinced that a good adviser will cover his or her fees many times over by adding value to the relationship in many ways. You could call this Adviser Alpha, and that’s what my guest and I are talking about today…

I’ve talked lots on this podcast about budgeting and money management. I’ve encapsulated this one of the three steps to financial freedom: spend less than you earn. But there are two ways of thinking that little sentence. What if, instead of spending less than you earn, you earn more than you spend? In today’s show I’ll look at some ways for making more money… In this session you will discover: My response to the biggest objection most people will have to the premise of this session Why I think there has never been a better time to make a sideline income How to make more money for doing the same amount of work as you're doing now How to save money on stuff you're already buying How to harness the sharing economy to make a passive sideline income What the sharing economy actually is(!) How to sell your expertise to willing buyers A stack load of resources to help you get started

If you have more than one end goal for your investing, it can confuse your plans a little. Should you have separate investment pots for each goal? Different portfolio risk strategies? How to go about setting multiple goals is a question I was asked by one of the respondents to my 2015 listener survey, so I thought I’d strike while the proverbial iron is hot, and answer this one right away… 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 In this session you will discover: Which variables you should bear in mind and which you should ignore when setting goals Why it's important only to think in today's money Why overthinking your goals setting is counterproductive How to separate long term from short term goals Which tax wrappers will best serve what kinds of goals How to build the underlying portfolio including asset allocation suggestions The one thing you shouldn't do when working to achieve your goals   Resources mentioned in this show Podcast: Session 111 - Setting Targets Podcast: Session 106 - Risk & Returns MeaningfulMoney 2015 Survey Finally, I have put together a cheatsheet which gives you an idea about the kinds of asset allocations you can use for different risk profiles and different timescales. Join the conversation I love to read and respond to your comments, so please do join in and share. Question: How have you managed different goals and timescales? What have you learned in the process? Share the love My thanks to AussieBoyUK and Simon Poulter for their reviews this week! 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:

State Pensions are changing. Again. In this podcast I’ll cover all you need to know about the State Pension changes in 2016, and show you how to make sure you have maximised your entitlement to this important state benefit… 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 In this session you will discover: What the new State Pension will look like in 2016 The impact National Insurance contributions has on the your pension entitlement Why "contracting out" will reduce the pension you get one day How to get a State Pension forecast How to top-up in the special window of opportunity between now and April 2017 How to buy extra qualifying years through voluntary NI contributions How to consider the State Pension Changes in 2016 in the context of your wider retirement planning I realise that this subject will only be immediately relevant to a smallish proportion of my listeners, but it’s impossible to have every episode serve everyone listening. If this does affect you and you have any questions, then do let me know. Otherwise, remember that retirement is a very, very long holiday with lots and lots of free time to fill. That’ll cost you, so you need to get things in place to enjoy it to the full.   Join the conversation I love to read and respond to your comments, so please do join in and share. Question: Are you affected by the State Pension changes in 2016? If so, how? And what are you doing about it? Share the love My thanks to MonsoonGold for her review this week! 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: