Well done on expluaing UK pensions in just over 10 minutes.

@kryptoniteee

2 жыл бұрын

Nice profile pic Mike.

@tonychan8558

Жыл бұрын

@@MaroonedInDub (This is a joke, obviously....) People really should check their emoji orientation before they click the send button lol

@MaroonedInDub

Жыл бұрын

@@tonychan8558 I made you cry

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

@Fatihu-nq

Күн бұрын

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

@Essien-ij

Күн бұрын

@@Fatihu-nq However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments

@Fatihu-nq

Күн бұрын

@@Essien-ij Oh please I’d love that. Thanks!

@Essien-ij

Күн бұрын

@@Fatihu-nq Clementina Abate Russo is her name

@Essien-ij

Күн бұрын

Lookup with her name on the webpage.

Free money, I agree, but the government will do its best to take it back. We get taxed on our income, taxed on our savings, taxed on our pensions. In essence, it's legalized theft! Thanks for the video. I absolutely agree that too few people know about the best ways they can achieve financial security.

With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $275k bond/stock portfolio

@lailaalfaddil7389

10 ай бұрын

You can make a quick internet research with her name *ROCH DUNGCA-SCHREIBER* . The rest of the information is there for you to read and get in touch

@denizpaull

5 ай бұрын

I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $300,000. ' John Steven Barr' is among the most accomplished portfolio managers in the industry, widely acknowledged for his outstanding work. I highly recommend taking a closer look at his impressive portfolio.

Thank you..I really needed this explaining as we approach retirement and have various pots. I finally understand it now.

Thank You! I pay into a DB scheme and didn't understand it as I thought all pensions behave like DC schemes but this short video has cleared up so much confusion for me. Very clear and very concise.

This is the kind of advice that I wish I'd had from pensions and savings advisers 30 years ago when all the jargon just went right over my head. Thanks for this much simpler explanation which I can now finally understand!

Oh wow! I'm so glad I come across this. Pensions have always left me confused. Thank you!

Great Video, I am an advisor from South Africa about to start work in the UK so these videos are super helpful. Thank you.

Just found this video. Has to be the clearest explanation I've ever come across for Pensions in the Uk. Thanks

Loved this. Thank you. I'm looking how to combine my other pensions. Not sure how to go about it at the moment but I'm keen on trying to secure some fininacial stability for my family.

Amazingly helpful video! Thank you so much for making this I have been struggling for years to understand my pension and this really helped

i'm currently training to work for a pension company and this is super helpful, thank you for explaining it so clearly!

What a great video, just wished I had watched it 1st of all, very clearly explained thank you

Brilliant video and so clearly explained. I think I learned more in this 12 minutes than I did when I sat for 2 hours in a pensions briefing at work a couple of years ago. You have a new subscriber 👍🏼😉

Best pension descriptions I've ever heard. So, so useful

@MeaningfulMoney

2 жыл бұрын

Thank you, LC!

Super informative pension video uncle Pete, thanx for producing.

Smashing video. You have a great style that makes potentially boring topics interesting and easy to watch. Cheers.

@MeaningfulMoney

2 жыл бұрын

Thank you, VP - you’re very kind!

Excellent video... I think it's a discrace (having paid into a pension) the government then turn around and keep raising the age you can draw on it... Its OUR money! France was recently sticking as the their State pension was being raised from 60 - 64 years old. Us Brits really need to grow some Cahoniez.

@kennethchin278

9 ай бұрын

Agreed, that is a very valid point, I work in finance for over 25 years, I think pensions are very much misunderstood, and the current Government and previous decided to raise the retirement age it is disgraceful (we know why, people are living longer), plus one will be taxed either at the start of the process - when you work (via National Income/TAX) or at the end of the process when you come to withdraw your hard earned cash from the pension. One should look at pensions as part of a good retirement plan with other types of assets or investments. The days of Golden pensions are long gone for most of us. Check out the HMRC Pensions Tax Manual. for example of limp sum commutation examples. I fear future governments will try to raise the age yet again.

This is possibly the most informative video ever created....

Love this series. I wish I knew all this 20 years ago!!!

@Kitiwake

Жыл бұрын

You weren't interested in it 20 years ago.

Very clear, thank you so much for taking the time to put this together and sharing it.

@MeaningfulMoney

Жыл бұрын

Thank you Stephen - glad it was useful!

This is the best video and explanation on how pensions work put in simple terms. Thank you and well done. I have subscribed to this channel. 10/10

@MeaningfulMoney

Жыл бұрын

Thanks very much - I’m delighted it was helpful for you! And thanks for the sub 👊🏻👍🏻

Thank you for making it so simple ! 🙏

Really great video for explaining the basics. Do you have a video explaining how pensions work for people who have ill health and are unlikely to make it to those 60's and 70's?

This is the best explanation of Pensions I ever come across, and should be taught at school and shared by employers. Great job! Thanks

@MeaningfulMoney

2 жыл бұрын

Very kind, Pablo, thank you! 🙏🏻

@omadlom

Жыл бұрын

Absolutely agree with this, fantastic and thank you

@jayp123

Жыл бұрын

Schools would rather teach religious education and pshe

Alongside salary sacrifice pension arrangements, my employer also does a salary sacrifice for car leasing electric vehicles, but this can affect your pension detrimentally, would like a Meaningful Money explaining this complex issue!

Very simple explanation on DC. Thank you!

Great video. I worked for a very large and well known company and have recently become a pension rep. Its a voluntary role but I'm passionate that all employees, particularly the younger ones, get educated to know their options available. The company only offers DC now to new members but its pretty generous at 8+12 but some newer joiners are still in the auto enrollment level. Fine that everyone's situation is different when it comes to what they can or want to save but I just like to make sure they are aware if all the options and figures. I'm really enjoying it.

@MeaningfulMoney

Жыл бұрын

This is really important work, JD. I’ve heard countless time from people who were encouraged by older colleagues to join the workplace pension, and they always so glad they did, down the line. Brilliant work - keep going! 👊🏻👍🏻

Am 59, first time I understood what a defined benefit is! Am an oral learner, ur voice, choice words made it so sonically fluid that it seeped into my synapses. There is no other way of saying thank you, then elaborating on how succinct your video is

I have no idea why this information isn’t more widely known. Brilliant explanation and has helped my understanding. What is boggling my mind though, who on Earth are the people who gave this a thumbs down???

@MeaningfulMoney

2 жыл бұрын

Ha! There are always some. And thank you - I appreciate the encouraging words...

Finally something that is explained in terms I can understand, thank you 🙏

@MeaningfulMoney

3 ай бұрын

You're very welcome - glad it was helpful!

Good stuff ! Very informative. I worked in the financial services industry for around 8 years leaving around 1994. I then went work for a good company that had 1/60th scheme and AVC contribution got this down to 56th scheme (22years service) This year it folded because the final salary scheme costs a fortune to maintain so I am now in a DC scheme ! Because my employer closed the DB scheme they are giving us an £8000 x2 bonus into the DC scheme. I am 58 now and tend to bail out in 2 years at age 60. My only concerns at going at 60 is I will have to mantain my NI contributions ! Draw down all the way. Taking benefits from DB scheme ! I could pass away and my kids wouldn't get a penny unless I elected for this hence reducing my pension. Thanks for sharing

great explanation...i'm going to use this videos advice in my job interview in the hope I can get a job working with pensions.

VERY SIMPLE WAY TO EXPLAIN. THANK YOU

Thanks again. Another good video. Your explanation is so easy to understand. I would recommend this channel. Thanks

@MeaningfulMoney

2 жыл бұрын

Thanks Chris - really appreciate that! 🙏🏻👍🏻

Really good video, you explained the concept very clearly. The illustrations are really good.

@MeaningfulMoney

2 жыл бұрын

Thank you Shree!

Finally, after more than 10 years, I understand how pensions work.

@MeaningfulMoney

2 жыл бұрын

I'll take that, Samuel - thank you!

Great clear intro. Thanks

Very well explained. Thank you. ::))) very good!!

Love this channel. Great video as always thank you 🙂👍

@MeaningfulMoney

2 жыл бұрын

You’re very kind, thank you 👍🏻🙏🏻

Great videos and great channel! Your videos have helped me change the way I think about my finances and budgeting. Would you consider doing a video explaining the NHS pension?

@MeaningfulMoney

2 жыл бұрын

I did a podcast on that subject with an expert, Oliver: meaningfulmoney.tv/2021/09/08/the-nhs-pension-scheme-explained/

I do love a pension video, thanks! I think I saw some content you did on salary sacrifice a while back which was really helpful too, I've just learnt that salary sacrifice is limited by the minimum wage which I wasn't aware of before. Given the upcoming N.I increase I think more people will be looking at their salary sacrifice schemes in the hope of recouping some of that cost.

@MeaningfulMoney

2 жыл бұрын

You could well be right…

Hi Pete, love the videos! A quick question for you... can you pay the maximum (100% of relevant earnings, only £5k inc tax relief) into a PP then take an Ufpls payment which will trigger the MPAA and then pay in £4k inc tax relief in the same tax year if you have no further earnings after the trigger date?

Great video. I'm in my 30s but I am now planning for retirement (although I should've started in my 20s). New subscriber here!

@jaleelaslam7341

2 ай бұрын

At 30 we should be living our prime not thinking about enjoying retirement. Our life's are in reverse, not how it should be.

@NinatoMamikaze

2 ай бұрын

​@@jaleelaslam7341you have a poor mindset buddy

Thanks for the basic explanation. I, like many have always struggled to understand ‘Pensions’. I fully understood your video. Subscribed as a result.

@albertoneill6065

2 жыл бұрын

Great why of explaining pension...

This was SO valuable you have no idea...

@MeaningfulMoney

2 ай бұрын

I’m glad - thanks for watching!

I am so glad that I came across this channel! The wealth of financial knowledge in your videos is astounding, I genuinely don't know how I'm not surrounded by millionaires with information like this being so accessible.

@jayturner3397

Жыл бұрын

Yes, subbed

Great video! Informative & engaging!

Great videos thanks. I was hoping to reduce CT from my limited company by paying in employer contributions to my SIPP. I’m now told that as I drew £6k from my SIPP back in 2016 I am only now allowed to pay in £10k per year which sounds crazy and somewhat unfair. 😢

Very well explained in quick and short video.

@MeaningfulMoney

2 жыл бұрын

Thank you Sandeep! 🙏🏻

Great video Pete I wish I knew all this in my 20’s 😮

Very useful and clearcut video thanks 😊 👍

Very clear explanation, thanks.

Absolutely brilliant video, easy to understand even for a thicko like me, thanks

@MeaningfulMoney

Жыл бұрын

You’re certainly not a thicko! No one is born knowing this stuff!

Thanks so much - this video was super helpful!

@MeaningfulMoney

Жыл бұрын

I’m glad, Timera - thanks for watching!

I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me, retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income-generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45

@danieljamal3709

Жыл бұрын

Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving

@veramonique1724

Жыл бұрын

Having an investment adviser is the best way to go about the market right now, especially for near-retirees, I've been in touch with a coach for a while now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I netted over $220K during this dip, that made it clear there's more to the market that we avg joes don't know

@veramonique1724

Жыл бұрын

credits to *MARTHA ALONSO HARA* , one of the best portfolio managers out there. she's well known, you should look her up

@stuartjames1862

Жыл бұрын

I just checked her out and I have sent her an email. I hope she gets back to me soon.

@leah38521

9 ай бұрын

45 would still be a very early age to retire!

Really well presented and very helpful! Thank you

@MeaningfulMoney

Жыл бұрын

Cheers Dav - glad it was helpful

Great video! I have a SIPP as well as my employer's DC pension. As well as consolidating my old pensions to the SIPP, I like the flexibility of being able to add contributions on the fly (which payroll contributions don't do so well)

@goodlifeliving1667

Жыл бұрын

How does that work regarding taxation and contributions..not sure if my employer is matching my contribution or how well invested my work place pension is.

@rogerandout808

Жыл бұрын

@@goodlifeliving1667 If you're in the UK and auto enrolled there is likely some level of matching. I've never had to worry too much about hitting contribution limits though. For taxation, 20% relief is applied by the broker, if you are a higher rate payer you put extra on a self assessment or I expect there is another form to claim with.

Thanks for the knowledge!

I think this also applies to some other countries too~~! thank u~~!!

Hi Pete, can you claim the higher rate tax relief on a workplace pension? Great work 👍

Subscribed,,,! Bring it on..

very insightful and I really admire your energy

@pamelad6774

2 жыл бұрын

Did you know Bitcoin officially becomes legal tender in El Salvador. The predominant cryptocurrency btc hits $100k by Dec.Buy bitcoin with PayPal now and save for the future financial freedom.

Nice clear explanation.

I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways

@Aziz__0

Жыл бұрын

Indeed, the recent market downturn serves as evidence that a vast majority of individuals lacked a sufficient understanding of the underlying financial dynamics at play.

@rickertcoles

Жыл бұрын

Given that we are not accustomed to such uncertain markets, the fact that the US stock market has been on its longest bull run ever makes the widespread anxiety and excitement comprehensible. There are opportunities if you know where to go, as you noted that it wasn't difficult for me to earn more than $780k in the previous 10 months. Since I was aware that I would need a reliable and strong plan to get through these tough times, I engaged a portfolio advisor.

@Blitcliffe

Жыл бұрын

@@rickertcoles My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.

@rickertcoles

Жыл бұрын

@@Blitcliffe My advisor “NICOLE DESIREE SIMON” is highly qualified and experienced in the financial market.She has extensive knowledge of portfolio diversity and is considered an expert in the field.

@Blitcliffe

Жыл бұрын

@@rickertcoles I just Googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes. Thanks

Great video on pension and investment. I just came across your channel and I have subscribed immediately. I really need educating on investment and pension. Thank you

@MeaningfulMoney

Жыл бұрын

Great to have you here, Tola! 👊🏻

Solid video Pete! 👍

very helpful video, thankyou so much

This is so informative, thank you!

@MeaningfulMoney

Жыл бұрын

Glad it was helpful!

Brilliant. Thank you

Thank you, great video. Kinda simple ;-)

Very helpful! Thank you.

@MeaningfulMoney

2 жыл бұрын

Really glad, Aidan - cheers!

As other commentors have said - that was very well explained. Thanks.

Thanks for the nice explanation. From what I understood, it seem better to invest in properties and rent it than going into the DC. Rent income is pretty much like DB.

@MeaningfulMoney

Жыл бұрын

Different, not better. Property is a great asset class, but very tax-inefficient and illiquid. Fine if you have tenants, but income drops to zero if you don’t. If possible try to get to the point where you have multiple strings to your bow - property AND pensions?!

Thanks so much Mathew for the good work. You have taught me so much. I have learnt so much in 3 day watching your channel than I did in 30years. I have a question, I work with the NHS, I want to know is it possible for me to have another private pension outside my NHS pension? Secondly will that affect my ISA account which I invested in S&P index with vanguard? Thanks, looking forward to hear from you.

Many thanks... really useful

Great job best explanation

One of the very best explanations of pension basics I have ever come across. This should be compulsory viewing for everyone.

Good video. Am I right in saying a pension is almost always better than an ISA because you wouldn't pay any tax (income or NIC), assuming you draw down less than the basic tax rate amount per year during your retirement?

Thank you so much for this clear video, I have one question pls - in case of a personal pension, why is employer obligated to contribute equal amount? In my case my employer already provides pension as part of compensation benefit but I am thinking of opening a separate personal pension account

Thank you very much. This is very useful.

@MeaningfulMoney

Жыл бұрын

I’m glad, Carole - thanks for watching!

Great video - thanks. When I started working for myself 24 years ago I was advised to take out a Stakeholder pension with Scottish Widows. Wish I hadn't. The last 3 years it has lost around 25% of its value despite me paying in £3600 per year. They continue to take their "management" fee. Luckily I have another pension from my former Employer which is doing very nicely. Minefield.

@XORTION

Жыл бұрын

Yeh the stock markets down..

@mariebrooks5704

Жыл бұрын

Hi Colin, I had the same predicament a few years ago. I looked into merging my Scottish Widows pension with my workplace pension, which was with Standard life. I had been paying two hefty management fees. The professional advice I received was invaluable and led me to decide to merge my pensions. Standard life did all the work, and I've not regretted my decision.

@ninawoods5985

5 ай бұрын

Hargreaves and Scottish Widows(under Lloyds) are criminals

You didn't mention state pension, I know it's not much, but surely worth mentioning. Still a very useful video. I wish I knew more... Off to watch more videos 😊👍🏼thanks

@MeaningfulMoney

8 ай бұрын

Tons of content on the state pension on this channel. Thanks for watching!

Hi Chris, great explainer video, now subscribed, I worked in construction for the first half of my working life, I moved from company to company as was the norm, is there a way to back-trace any pension contribution I may have made in these years?. TIA.

I have a question, my accumulated pension pot appears to be about 50% of what they are calling a terminal bonus. its a private personal pension which I could have accessed at 55. is aged 55 the terminal bonus windfall?

10mins 21secs, thats the bit that concerns me! when i mentioned this to my pension company they flatly refused to offer me anything!! stating that it was too early!!

great video. I’ve been watching and listening to the podcast for around 6 months now i’ve become slightly obsessed with investing and saving my money. I’m 21 and have set up monthly direct debits to my Vanguard personal pension, contribute 6.5% into my workplace DC pension, my Fidelity ISA and my Hargreaves Lansdown LISA. I’m very happy and grateful that i found out about investing at my age and have been telling all my friends about investing and now they all have direct debits into their ISAs and pensions. Thank you Pete

@mikeroyce8926

2 жыл бұрын

Wow, you are doing brilliantly. Dont forget to grow an instant access emergency fund (possibly mostly un premium bonds) of 3 to 6 months expenditure - its crucial to have this so that you ding gave to sell shares when the market is down. When the market falls it often coincides with when people need to fall back on some savings. Meanwhile to encourage you ghost your doing the right thing this video from some US financial planners will blow your socks off. kzread.info/dash/bejne/on-Vy6SHcZmoXaw.html

@MeaningfulMoney

2 жыл бұрын

Brilliant stuff, FRANK! 👊🏻

@McStoolio

2 жыл бұрын

Sensible lad. You’ll go far 👍

@kw8757

2 жыл бұрын

I admire your desire to provide for yourself, too many people these days look to the state to provide for them. It's better to be obsessed with your financial future than uninterested and blasé. I wish I had been more interested when I was your age. Luckily I had a great father and the best advice he gave me at 22 was to open a private pension, as at the time I didn't have a workplace pension. I now have a workplace DB pension and the pot I accumulated in my private pension.

@amnansahotra123

2 жыл бұрын

What’s the name of podcast

Basic aged pension is $500 pw plus many gov concessions and rent subsidy if renting private housing up to $50 pw

Hi mate, I'm 56 years old a physiotherapist who worked with Nhs for about 3 years and also worked as a locum pt for a couple of years with Nhs. Last 9 years worked abroad. Now I'm back in the UK his can I find out how much I awe the government to get retired? Will be happy if you advise me, please

Great video thank you for explanation of pension in the UK. I wonder one question you might know that do l need to be an Uk citizen for retirement even if l work in UK ? You can assume, l pay my taxes and everything to UK government. Thanks again for the video l subscribed to your channel 👍🏻

Very helpful thanks

Thanks for a great explanation of this. I still struggle to understand though what happens to all the money, say in the 2015 NHS scheme which is DB. The amount contributed by employee and employer always seems to be so much more than the 1/54th promised for each contribution year? Anyone explain the maths here?

Wonderful!

What is the COPE on the pension forecast . Is that the amount the state pension has taken out of it or what the contracted out pension is calculated to pay. . A bit of background I was in the Armed Forces ( 1987-2012 ) and thus contracted out . On leaving I’m in receipt of a pension which is frozen until I reach 55.

where is the best place to start to find out first what you are eligible for? I am living in Canada and worked in The UK since sept 1979 to Nov 2003 and my wife did not work as much but she was apartner in my busines for some time...

Thank you for the video , do you advice someone foreigner coming to UK to work to participate in the pension scheme ? I mean usually foreigners at young age don't know if they will continue there life in UK till retirement

Thank you so much - so is a DC pension risky at all? As it’s being invested; can you lose it? Or is protected somehow?

Took me 30 years to understand how this works. God bless you.😂

Amazing thanks