Making sense of Money, with Pete Matthew. In these bite-size financial videos, I explain the basics of financial planning in easy-to-understand language. Money is not difficult to understand, but most people switch off to it. Hopefully I can help you first understand, and then use money to help you achieve your life's aims.
Some of the old videos need updating, so always check before you take action, and remember, nothing on here consitutes advice, OK?
Check out meaningfulmoney.tv for loads more, including an award-winning podcast.
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Leave UK if you can it will be hell in 10/15 years time
But my Ai account was shut down
Isn't a married couples pension less than your individual pensions put together ?
I have watched all of these tax planning videos after 13 years of publication. I want to thank you for making a contribution in my learning.
Hi Pete, whats your view on the government limiting the tax free allowance either as a percentage or a specific value? I am hearing that some people are taking all of their tax free allowance now ahead of any announcement of governments plan and filling up their ISAs and other tax efficient investments (what ever they are). I'm with you on the likelihood of the inclusion of SIPPs in the value of estates - my only question would be the passing on to spouses at nil rate. I would also be interested to see if there will be changes to gifting rules - maybe a lifetime allowance. All the best M
Great insights on retirement planning! For those looking to optimize their investment strategy, I offer expert account management services tailored to UK retirement plans. With a focus on maximizing returns and managing risk, I can help you achieve your financial goals. Feel free to reach out if you're interested in a personalized consultation!
In my humble opinion: ENOUGH means a roof over your head and 2 meals a day! ❤
Is it to late to get a personal pention at 55 ?
Pete - your videos and podcasts are great. I really appreciate your guidance.
Pete, what is your opinion on a short fixed term overseas annuity? My plan is to have a stop gap between when i retire at 60 and my state pension, so a 7 year plan. Not using all my pot, but a considerable fraction of it. I also will have a forces pension at age 60.
There is never enough. Find a way to have income until the very last moments.
When we retire we all should receive the same pension.
You can also change your location, SE Asia for example, the cost of living is 2 - 4 times less.
Your average UK working class person earning less than £25k will have to rely on his state pension after retiring unless he can save a bit each month... Tony cuenca
Retirement is not a great event. Dont retire, keep busy with whatever skill you have. If yoj dong have skills, start a youtube channel to just talk about your life. Never ever retire. Keep earning to meet expenses. That way your pension will last more.
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Natalie Strayer
I'm surprised that you just mentioned Natalie Strayer here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
Natalie Strayer has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
I'm new at this, please how can I reach her?
After I raised up to 125k trading with her I bought a new House and a car here in the states also paid for my son's surgery Glory to God shalom.
Scary podcast. Inflation going up, pensions doomed. Argh. Is he legit or just trying to sell his fund?
Really Interesting, I prefer ISA as I thought as you said if I have more to withdraw in the end It would be better to have it tax free. Thank you for your calculations and video. I guess really it probably is better to have a mix of both. Then again, I am not sure I really want to retire . Thank you again.
My wife (54) does not have a pension and does not earn enough income to pay tax. She recently inherited £400k. After paying into ISAs, and setting some aside in savings, does it make sense to put a lump some into a pension? How much can she pay in ? Does the £60k tax limit apply?
My wife (54) doesn’t have a pension and recently inherited £400k. Should she use this to start a pension? It’s putting most of it into the pension immediately a good idea…or does it only make sense to spread it and pay in the £60k tax limit per year. As you can tell, i am not money savvy!
You can theoretically achieve 4% income from dividends and interest while still keeping pace with inflation. Ideally, ISA wrapped so it's tax free. So fag packeting the concept, if your targeted annual shortfall from other sources - pensions, etc - is £20k, you'd need £800k in yielding investments to generate it while leaving the capital untouched. Either to pass on - after death duties of course - or to dip into for special spending. The notion is based in the idea that a sensible income portfolio can increase by 7% per year - 4% income and 3% capital increase (the latter countering inflation). It also presumes that the asset's income distribution keeps pace with inflation.
thank you for the explanation... i just got a job and have been dreaming to invest in unit trust... just wanted to confirm what is multi asset.. thanks
You work for a 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a bitcion coin for just fe months and now they are multimillionaires thanks to Charlotte Grace Miller
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.
I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
80% equities 20% cash. I plan to take advantage of the s&p 500 as leading indicators predict above 10% rise by this year, my only issue is how to properly allocate a large stock/bond portfolio for substantial gains at minimum risk.
It’s important to do your own research and consult with a financial advisor before making any investment decisions.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $850,000 with the help of my advisor from an initial $150,000 investment.
Who is this person guiding you and how can i reach he/she?
I'm pleased with the advisor's prompt and knowledgeable assistance. Their professionalism instills confidence. Looking forward to further discussions.
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.
Agreed! this is why I work with one. My $520k portfolio is well-matched for every market season yielding 85% rise from early last year to date. I and my advsor are working on more figures for this year. IMO, financial advisors are the most sought-after professionals after doctors.
Pls who is this coach that guides you? I’m in dire need of one, my stock portfolio is declining rapidly
Her name is ‘Melissa Jean Talingdan’ Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I'm pleased with the advisor's prompt and knowledgeable assistance. Their professionalism instills confidence. Looking forward to further discussions.
Learn to be happy with less. That’s all there is to know.
Would steer clear of Aviva! They charge you more if you take non advice and are very restrictive in the way you can take drawdown. They pretty much force you down taking advice and all the lovely costs that involves. Disgusting.
What’s it to do with the WEF? Nobody elected them, why are they sticking their beaks in our business?
I was put into Nest, without being consulted or informed, in 2022. When I saw the first deduction on my payslip I took immediate steps to opt out. It took them five weeks to close my account and stop deducting contributions. I asked then if I could have the money back and was told I would need to apply for it after I had retired. Having retired, I phoned Nest and they claimed they had sent the money back to my employer when the account was closed. The employer rebuffed this, but Nest still insist that their version is true. I worked in construction and have never held a fiduciary position, but I don't lie or steal. Somewhere along the line I have been lied to and robbed. I think that it is disgraceful that people supposedly honest enough to be trusted in a fiscal role should show themselves so unworthy; and my heart goes out to all the poor people who will have been taken in by smoothly spoken lies by representatives of Nest and their competitors, and so lost all the savings that they'd laid their retirement plans on My consolation is that I didn't trust them from the start, having heard countless horror stories on phone-in programmes from people who couldn't access their pension for various reasons. I hope that this goes some way to shaking people's confidence enough to save one or two of them from falling into the trap; and hope that the criminals involved in these scams will remember me when their working lives draw to a close and they make ready for their well earned leisure.
With reference to what the gentleman in the video explained about how the pension accounts work, unless a person is very rich they have no business getting involved in ‘risky’ investments; and to be charged for the privilege is scandalous. I really think the whole business of private pensions should be made illegal. Our government’s adoption of the opposite stance shows how little politicians really care about the electorate.
@@prairiewolfo9274 On past performances it wouldn't be surprising if they started conscripting our youth to go and fight agains Putin in Ukraine's war. It's about time that one came round again. Never mind: the Sunak contingent won't have to go!
And very soon we will all be gifting our private pension money.....to the new Labour govt.
Pensions have largely disappeared in the United States
Great explanation. So many of these kind of videos always presume the person has a family to leave money too. Singletons advice is very rare
In the 1990s I sold pensions on the strenght that the tax free lump sum would pay off most if not all of the mortgage and leave the investor with a pension for life. Most were over a 40 year term plus, I was not alone.
The approach of selling pensions with the promise that a tax-free lump sum would pay off mortgages and provide a lifelong pension was common in the 1990s. However, many factors can affect the outcome, including changes in the housing market and interest rates. It's crucial for investors to seek personalized advice and consider diversified financial strategies to ensure long-term financial stability.
it's vital for investors to seek personalized advice and adopt diversified financial strategies. Working with a knowledgeable financial adviser is crucial for achieving long-term financial stability and freedom
I've experimented with a few over the past years, but I've stuck with ‘’Nicole Anastasia Plumlee” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
In the 1990s I sold pensions on the strenght that the tax free lump sum would pay off most if not all of the mortgage and leave the investor with a pension for life. Most were over a 40 year term plus, I was not alone.
The approach of selling pensions with the promise that a tax-free lump sum would pay off mortgages and provide a lifelong pension was common in the 1990s. However, many factors can affect the outcome, including changes in the housing market and interest rates. It's crucial for investors to seek personalized advice and consider diversified financial strategies to ensure long-term financial stability.
it's vital for investors to seek personalized advice and adopt diversified financial strategies. Working with a knowledgeable financial adviser is crucial for achieving long-term financial stability and freedom
I've experimented with a few over the past years, but I've stuck with ‘’Nicole Anastasia Plumlee” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
So many scammers posting in here. Pretending their adviser saved them from impoverishment. Can you delete them please? Us boomers are a target for them!
We really try - it’s all done by bots, and it’s impossible to keep up!
Hi Pete. I haven’t saved enough in pensions and want to retire in about 4 years time, but have saved about 400k in cash isa’s. What I really want to know is,can I pay lump sums into my pension in the meantime? And is it worth it? Thanks.
Yes and yes. You can pay in up to 100% of your gross relevant earnings into your pension. Defo worth it because you save tax now
Well
Well indeed.
In your model , am I correct in thinking you are living off the growth in your investments and that the base value remains the same ?. Surely you also want to use this base figure as well otherwise you are leaving it to someone else after you die .
I've been purchasing stocks since the beginning of the year, but nothing has changed. However, I've been reading articles about people who are still in the same market who have made over $350,000 in just a few months. What am I doing incorrectly?
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@FernandoBowen-78 That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@RoseSmith-v7g My advisor is VICTORIA CARMEN SANTAELLA;
You can look her up online
Nah I Can't say I can relate, VICTORIA CARMEN SANTAELLA charge is one-off and pretty reasonable when compared to what I benefit in returns.
ISAs are tax free. For how. Let’s face it Labour have just robbed pensioners of £300 so they’ll hit ISAs at some point when they start running out of our money to spend on their mates in public sector and sending it abroad to help with climate change.
Would be nice for more AT RETIREMENT videos. Fees play a big part in overall "take home" from funds. Would be great to see some good examples of implementation - e.g. x years easy access cash, longer term investments. How to use drawdown effectively. Too many vids out there explaining the options but none really go into how you would implement and manage going forward in retirement. I think it's great to get all this financial education out there to ensure folks understand what they need to do to build up their wealth pre-retirement. Please let's do more at-retirement vids.
Plenty of that on the channel, Brian, including how to invest in retirement
I have two questions. Isn’t the taxable pension income tax free for the first 12.7k ? So in the example the tax would be approximately 2.66k instead of 4k? If I have a SIPP can I just withdraw dividends once a month via UPFLS and would that be taxed with 13.2k tax free (12.7k tax free + .5k dividend tax fee) and rest with 8.75%
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Tracy Annette Webb is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
guys don't forget about inflation. your money lose %5 value every year approx
When you pay in you het a little i mean a little tax relief and yoyr employer pays into as well booooom heres the end result you pay 20% on every penny from your pension when its paid to you fact .if you go over its 40% tax fact this isiot wont tell you the facts and get to the point
You pay income tax on 75% of your pension, not all of it. And you still get personal allowance etc so if you don’t have any other income, perhaps before your state pension kicks in, then more of it could be tax free. You don’t get a little bit of tax relief, you get it on all of your contributions at your highest rate. I did a video called pension vs ISA and I’ll be revisiting it shortly - short version: Pensions ALWAYS win, unless you’re a higher rate taxpayer in retirement.
Good advice never stop paying into a pension good advice don't start paying from the beginning biggest financial scams ever in human history
Whilst it is great to give us examples and helpful too, I would be surprised if lots of those watching would have such generous levels of cash funds. All three are right at lifetime allowance level and I would think most people with personal pension funds are not at such levels. I appreciate this is in your own time and you cannot go through every possible scenario but doing more of a spread of funds would have been good. That said it is appreciated you taking time to post this.
Best explanation to date!
Unusually good video! Thanks mate. I think that I'm pretty financially savvy and have worked out a whole range of scenarios (aiming at retiring at 60), but there's no such thing as 'too much information'! Good vids, appreciate it.