The Meaningful Money Personal Finance Podcast

New rules governing pension death benefits which came into force in April 2015 have led to a large number of enquiries from people in deferred final salary pensions looking to transfer their benefits elsewhere. But final salary, or defined benefit pensions are considered the gold standard of retirement planning, so why would these people want to transfer out, and are they crazy even to consider it? In today’s show we’ll look at all the ins and outs of this very thorny issue. This is an important one… 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: Why the new pensions freedoms rules have led to lots of enquiries about transferring final salary pensions The reasons people are giving for exploring transferring out The mechanics of how transfers work The factors you should consider if you're thinking about doing this What the risks are in transferring out your defined benefit scheme The essential steps you should take before proceeding The ultimate reason for NOT proceeding with a final salary scheme transfer After listening to this session, you may get the impression that I’m absolutely not in favour of transferring DB schemes. That’s not true, but for the vast majority of people the guarantees of DB schemes are worth their weight in gold and when compared to the many risks involved in transferring, 999 out of 1000 schemes will be best left where they are. Please think very carefully about making the decisions to transfer and do seek competent advice. Join the conversation I love to read and respond to your comments, so please do join in and share. Question: Are you looking into transferring your final salary pension scheme? If so, what are your reasons? Share the love My thanks to AmyInMorden 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:

For years now I’ve been preaching here that money management is simple, and I do hold to that. But, while it may be simple, that doesn’t mean it is EASY. Financial success takes time, sometimes a long time, and it can be difficult to keep the faith and stick to it for a long time. In today’s show, we’re going to talk about how to keep going when the voice in your head when they tell you to quit…  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: How goals keep you focused The best way to stay excited about your future plans That sometimes it's OK to go easy on yourself Why you should talk to yourself, not listen to yourself A great strategy for drowning out the negative inner voice One key practice for staying on track Inspiration is just as important as financial knowledge. I hope to bring some more inspiring stories to you over the coming weeks. There’s a wealth of information here, and I’ll keep going with that too, don’t worry. But I want this show to become more rounded as it matures. Always interested to hear what you think of that, so do let me know in the comments.   Resources mentioned in this show MeaningfulMoney Goal- setting podcast: Session 42 MeaningfulMoney Mid-year goals update podcast: Session 68 Daily practice: Five Minute Journal Podcast: The Property Podcast Podcast: Money To The Masses Podcast: The Informed Choice Podcast MeaningfulMoney Podcast: The Power of Cashflow with J. Massey MeaningfulMoney Podcast: Session 107, Budget to win with Martin O Book: Getting Things Done MeaningfulMoney Podcast: Session 46 - How to organise financial paperwork Join the conversation I love to read and respond to your comments, so please do join in and share. Question: What resources do you use to keep on track when times are tough?

Today’s guest is a financial powerhouse who has transformed his life and that fortunes of his family through embracing the teachings of Robert Kiyosaki, the author of the seminal work, Rich Dad, Poor Dad. In this interview, we get an insight into the mind of J. Massey and into the power of Cashflow…   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: How J. created significant wealth in a short period of time using property investment J's strategy for creating wealth using other people's money His three fundamental lessons he has learned through his investing career ...and three things he suggests we avoid at all costs What J. would say to his 20 year-old self How J's investing also helps him fulfil his big-picture life aims J. Massey is an inspiring guy. You can find out a lot more about him at the links below, but I definitely will be checking out the Cashflow board game, which looks really interesting; I'll try it out on my kids and get back to you! I'll also be re-reading the Rich Dad Poor Dad book that started it all. As always, a full transcript is available by clicking the mahoosive blue button below: [Insert Leadbox script here] Resources mentioned in this show Website: cashflowdiary.com Podcast: Cashflow Diary Book: Rich Dad, Poor Dad Join the conversation I love to read and respond to your comments, so please do join in and share. Question: Have you read Rich Dad, Poor Dad? If so, what did you learn? Share the love My thanks to £ Greggor £ for his 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.   

The mortgage application process got more difficult last year, and right now, I’m experiencing this first hand. Today I talk to leading mortgage broker Andrew Montlake of Coreco, and he’s going to tell us what we need to KNOW, and what we need to DO when applying for a mortgage. 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 mortgage application process involves How the Mortgage Market Review has made applying for a mortgage more difficult Why affordability is a bigger deal than income multiples when working out how much you can borrow How to make your life easier when applying for a mortgage The advantages of using a mortgage broker over going direct Since recording this session, my mortgage has been agreed, thankfully! But the whole mortgage application process has really got me thinking and I'll be putting together a blog post about it very soon. in the meantime, there is tons of value in this conversation with Monty - enjoy!

Peer to peer lending is one of those things in life while there have been versions of it around for years, its popularity has exploded thanks to the internet. I am getting more and more enquiries and comments about it, so I thought we’d have a good look at it 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 In this session you will discover: How P2P lending works and how it is raining on the banks' parade The benefits and limitations of P2P The big news which will catapult P2P into the mainstream How you should move forward with incorporating P2P into your portfolio The considerations you should bear in mind when determining how much to invest

Celebrity Fund Managers are highly paid poster boys and girls for their respective companies, and their performance and personalities are used in marketing messages which attract millions and even billions into their funds. But are they worth their huge salaries and bonuses or should you avoid them at all costs? In this session you will discover: What fund managers are actually trying to do The levels of (in)consistency among fund managers What makes a celebrity fund manager, a celebrity fund manager What it costs you to choose an active manager The other factor you should look for in a fund manager, in addition to consistency Why it is important to rebalance How much, if any, of your portfolio you should devote to active fund management

Interest rates have been really low for a really long time. Great if you’re a mortgage borrower; not so good if you’re a saver. It’s these latter folks I want to give you some thoughts on what to do to get a better return than you’re getting in the bank, but what that might cost you in peace of mind and in pounds and pence.    

This week I’m going to look at two important changes announced recently which might affect your planning. Neither one really warrants its own half-hour show, so I thought I’d lump them together here. Stay tuned...

Let’s say you have some extra money available each month. Should you pay down your mortgage more quickly, or invest that surplus? Or maybe you have an inheritance coming - should you pay off your mortgage or invest it? It’s a question which isn’t easily answered, because maths and emotion are often at odds.  

There’s a hot topic in adviser circles right now, and it’s the rise of the robo-adviser. But what on earth is a robo-adviser and what does it mean for the man or woman on the street, looking to use online tools for their personal finances. Today I’m joined by fellow human adviser Al Rush, who is just the man to help us understand this new world…