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Syndication

In this episode of Informed Choice Radio, Martin talks about 10 ways to improve your financial resilience.

There is also a roundup of the latest personal finance news and an update from the world of Informed Choice.

10 ways to improve your financial resilience

This week on Informed Choice Radio, Martin shares his ten tips for improving your financial resilience.

This topic was prompted by a couple of things; the news that the German government is thinking about making it mandatory for citizens to stockpile food and water in case of a terrorist attack; and a conversation Martin had this week with fellow personal finance podcast David Stein.

We started by asking the people of Cranleigh how they would cope in case of a national emergency or the collapse of the banking system.

Martin shared the following ten tips for improving your financial resilience and explained the practical importance of each one:

Tip #1 – build a cash emergency fund
Tip #2 – diversify your investments
Tip #3 – deal with your debt
Tip #4 – insure the essentials
Tip #5 – control your expenditure
Tip #6 – live simply
Tip #7 – create multiple streams of income
Tip #8 – get in better shape
Tip #9 – plan ahead for the future
Tip #10 – stockpile the essentials

We would love to hear what you think. Are you financially resilient? How would you cope with a collapse of the financial system?

Personal finance news update

-Gender pay inequality has widened, according to the latest figures from the Institute for Fiscal Studies.

-More than 1.6 million families in the UK are living with ‘extreme problem debt’.

-Oil prices fell this week, after an unexpectedly large inventory build in the US renewed fears about an oversupply.

-More money was withdrawn from investment funds distributed in the UK in July than in the past three years.

-Help to Buy ISAs have faced criticism this week after the revelation that the government will withhold adding its bonus until after the completion of the property purchase.

-People taking money out of their pension pots using the new pension freedoms are being hit with unexpected tax bills.

Get answers to your personal finance questions

Do you have a personal finance or investing question for Martin?

Email martin@icfp.co.uk or ask on Twitter @martinbamford.

You can call our dedicated podcast voicemail line on 020 8144 2745 with your question or visit www.speakpipe.com/InformedChoicePodcast to leave an online voicemail.


In this episode of Informed Choice Radio, I speak to Brad Baldridge.

Brad is a Certified Financial Planner based in Milwaukee, Wisconsin.

He is a College Funding Consultant specializing in late stage college funding planning and the chief podcaster of Taming The High Cost Of College.

Brad provides customised planning using the latest financial aid, tax, cash flow and academic strategies. With these strategies Brad helps families save a significant amount of money on their college expenses and make a student’s college dream a reality.

Over the past 10 years, Brad has directly helped hundreds of families plan and pay for college. He has provided in-depth college plans resulting in increased financial aid, scholarships, identification of the right schools at the right price, and better loans.

In this episode of Informed Choice Radio, I speak to Brad about the pressure families’ face to balance their retirement funding with the cost of higher education for their children. We chat about how coaching helps to prioritise these different objectives.

We also cover Brad’s work with business owners and his views on the upcoming presidential election.

Welcome to Taming the Cost of College with Brad Baldridge, in episode 107 of Informed Choice Radio.

Some questions I ask

-How do financial priorities change at different stages of life?

-Do you feel that families in America are under huge pressure and stress to save money not only for their children's education but also to save enough for their later life?

-How has the regulatory environment affected financial services in America? 

-You are also a co-author of a book; Strictly Business: Planning Strategies for Privately Owned Businesses, a book written to educate business owners on financial topics. Could you tell us a little bit about the book and what were your motives behind helping to write it?

-The US presidential election is coming up, Trump or Clinton? What does the next four years look like in terms of politics for the US?


In this episode of Informed Choice Radio, Martin talks about making sensible withdrawals from your pension pot.

There is also a roundup of the latest personal finance news and an update from the world of Informed Choice.

Sensible pension pot withdrawals

Earlier this week, the Association of British Insurers, the ABI, published the first full year of data since pension freedoms began in April 2015.

These figures show that most people are being sensible about pension withdrawals.

They found that over half of people withdrawing money from their pots in the first three months of 2016 took out 1% or less of their value.

However, more than 3,000 people took out more than 10% of the value of their pension pots during this time.

In this episode of the podcast, we hear from Nick Bamford of Informed Choice, Jamie Jenkins of Standard Life, and Fiona Tait of Royal London to get their views on these new ABI pension freedom figures.

Personal finance news update

-Retail sales were up by 5.9% in July compared with the same month last year, boosted by warmer weather.

-Accountants and advisers face new tougher fines for helping their clients bend tax rules to gain a tax advantage.

-Regulated rail fares in England and Scotland will rise by 1.9% next year, following the publication of the latest price inflation figures.

-Savers face lower returns after one of the most competitive savings accounts slashed its interest rate in half.

-New official figures show house price inflation was up by 8.7% in the year to June.

Get answers to your personal finance questions

Do you have a personal finance or investing question for Martin?

Email martin@icfp.co.uk or ask on Twitter @martinbamford.

You can call our dedicated podcast voicemail line on 020 8144 2745 with your question or visit www.speakpipe.com/InformedChoicePodcast to leave an online voicemail.

Direct download: ICR106-ICR106_Sensible_Pension_Pot_Withdrawal.mp3
Category:investing -- posted at: 2:00am UTC

In this episode of Informed Choice Radio, I speak to Jordan Goodman.

Jordan E. Goodman is “America’s Money Answers Man” and a nationally recognised expert on personal finance.

He is a regular guest on numerous radio and television call-in shows across the United States, answering questions on personal financial topics.

Jordan appears frequently on The View, Fox News Network, Fox Business Network, CNN, CNBC and CBS evening news.

He is the author or co-author of 13 best-selling books on personal finance including Master Your Debt, Fast Profits in Hard Times, Everyone’s Money Book, Master Your Money Type, Barron’s Dictionary of Finance and Investment Terms, and Barron’s Finance and Investment Handbook.

In this episode of Informed Choice Radio, I speak to Jordan about his background and experience over the past 35 years as America’s Money Answers Man. We chat about his favourite book, some of the biggest personal finance issues he comes across and several interesting solutions to these.

Jordan shares a number of interesting website links in this podcast and I need to remind listeners that these are for information purposes only. As always, Informed Choice Radio does not offer financial advice and you should seek professional independent financial advice before making important financial decisions.

Welcome to America's Money Answers Man with Jordan Goodman, in episode 105 of Informed Choice Radio.

Direct download: ICR105-MP3_for_Audio_Podcasting.mp3
Category:investing -- posted at: 2:00am UTC

In this episode of Informed Choice Radio, Martin talks about how to avoid inheritance tax like the Duke of Westminster.

There is also a roundup of the latest personal finance news and an update from the world of Informed Choice.

Avoid inheritance tax like the Duke of Westminster

Gerald Cavendish Grosvenor, the Duke of Westminster, died this week of a heart attack, at 64 years old.

The duke was the third richest person in Britain and his passing has prompted a debate about inheritance tax.

By all accounts, Gerald Grosvenor was a remarkable man.

He became the sixth Duke of Westminster in 1979, and is described on the Grosvenor Estate website as : “…a passionate country man, committed soldier, an excellent shot, a true entrepreneur and, importantly, he went out of his way to be courteous and humorous with all people, regardless of status or wealth.”

Following his death, his son Hugh Grosvenor, previously known by the honorary title Earl Grosvenor, has inherited an estate worth £9bn.

Despite the substantial inheritance, the new Duke of Westminster is expected to pay very little inheritance tax.

In this episode of Informed Choice Radio, Martin talks about the use of trusts, business property relief and agricultural relief to avoid inheritance tax.

Personal finance news update

-UK government bonds have offered negative yields for the first time ever.

-Life assurance company Aegon has confirmed a £140m acquisition of fund supermarket Cofunds.

-The Royal Mint has reported a surge in demand for gold bars and coins, following the Bank of England interest rate cut earlier this month.

-The UK housing market took a pause for breath in July, following the referendum result.

-A study for the charity Shelter has found one in three families in England would not be able to pay their rent or mortgage for more than a month if they lost their job.

Direct download: ICR104-ICR104-Avoid-Inheritance-Tax-Duke-Westminster.mp3
Category:investing -- posted at: 4:58pm UTC

Higher education is an expensive business.

Tuition fees, the cost of accommodation and lost earnings potential all take their toll, often resulting in a lifetime of student debt.

In the United States, the cost of college is even higher than it is in the UK, as my guest on this episode of the podcast will explain.

In this episode of Informed Choice Radio, I speak to Adam Bauer.

Adam is Financial Literacy Program Director at Wayne State University in Detroit, Michigan.

Adam describes his role as developing WSU’s financial literacy program. He says: Sometimes I teach. Sometimes I coach. Rarely, I sleep.

A former English teacher, Adam is passionate about using his MBA in finances to improve financial literacy for college age students.

In this episode, we talk about how college in the US differs from the UK. I ask Adam about the financial fundamentals students typically lack and whether higher education is still worth its high cost.

Welcome to Cost of College with Adam Bauer, in episode 103 of Informed Choice Radio.

Some questions I ask

-How did you get involved in financial literacy?

-What are the different types of colleges in the US and how do their fee structures differ?

-Do many students drop out of college because they struggle with financial literacy issues?

-What financial fundamentals do students typically lack?

-With such high tuition costs, is going to University still worth the money?

Subscribe in iTunes | Click to listen now | Right click to download episode

Direct download: ICR103-MP320for20Audio20Podcasting.mp3
Category:investing -- posted at: 2:00am UTC

In this episode of Informed Choice Radio, Martin talks about the Bank of England cutting interest rates and what it means for your personal finances.

There is also a roundup of the latest personal finance news and an update from the world of Informed Choice.

They've only gone & cut interest rates!

UK interest rates have been cut from 0.5% to 0.25%. This is a new record low for interest rates in the UK and the first rate cut since 2009.

Announcing the rate cut, which was a unanimous decision, the Monetary Policy Committee at the Bank of England also signalled that interest rates could go lower still if the British economy worsens.

The Bank announced extra measures to stimulate UK economic growth. This included a £100bn scheme forcing banks to pass on the low interest rate to households and businesses. There will also be an extension to the Bank’s programme of quantitative easing, buying £60bn of UK government bonds and £10bn of corporate bonds.

What does this interest rate cut and extra QE mean for your mortgage payments, cash savings, retirement planning or investment portfolio?

In this episode, Martin shares the views of a range of personal finance experts to help you figure it out.

Personal finance news update

-Home ownership is falling in England, with the sharpest falls recorded in large cities.

-One of the fund managers who penalised investors withdrawing money from their commercial property fund following the referendum result has eased restrictions for investors.

-A deadline for making claims for payment protection insurance mis-selling could be introduced.

-The state pension ‘triple lock’ could have a limited shelf life, with two former pensions ministers disagreeing about its future.

-The world’s first ever “masala” or rupee-denominated bond issued outside of India by an Indian company was listed on the London Stock Exchange earlier this week.

Get answers to your personal finance questions

Do you have a personal finance or investing question for Martin?

Email martin@icfp.co.uk or ask on Twitter @martinbamford.

You can call our dedicated podcast voicemail line on 020 8144 2745 with your question or visit www.speakpipe.com/InformedChoicePodcast to leave an online voicemail.

Help us spread the word!

Thank you for listening to this episode of Informed Choice Radio. Please email martin@icfp.co.uk with any feedback you have.

If you enjoyed this episode, please share it with a friend or on social media.

If you enjoy the show, please subscribe in iTunes and write us a review! Reviews really help us stand out from the crowd and reach more listeners.

 

Direct download: ICR102-ICR102.mp3
Category:investing -- posted at: 2:00am UTC

Surrey is often considered to be an affluent county.

Yet 27,000 young people and children are living in poverty in Surrey, and more than 108,000 people are providing unpaid care.

In this episode of Informed Choice Radio, I speak to Laura Thurlow.

Laura is Deputy Director at Community Foundation for Surrey, working closely with donors to manage their funds and supporting them in awarding grants.

The Community Foundation for Surrey is an independent charitable trust established in 2005 to inspire local giving for local needs.

They work with donors who want to give something back to their local communities and voluntary groups providing vital services for local people and disadvantaged individuals.

In this episode of Informed Choice Radio, we talk about how philanthropy can fit within the overall framework of Financial Planning.

We look at Hidden Surrey and what constitutes poverty in the county. We also talk about how you can get involved and support the Community Foundation for Surrey in their work.

Welcome to Love of Humanity with Laura Thurlow, in episode 101 of Informed Choice Radio.

Some questions I ask

- How does philanthropy differ from charity?

- Do you have to be wealthy to get started with philanthropy, or can anyone get involved?

- Do you find that a lot of people are unaware of these issues that need to be tackled?

- What does the future hold for the Community Foundation for Surrey?

Useful links mentioned in this episode

-Community Foundation for Surrey

-@CFSurrey on Twitter

-@ThurlowLaura on Twitter

Help us spread the word!

Thank you for listening to this episode of Informed Choice Radio. Please use the comments section below to share any feedback you have.

If you enjoyed this episode, please share it with a friend or send a tweet.

If you enjoy the show, please subscribe in iTunes and write us a review! Reviews really help us stand out from the crowd and reach more listeners.

Direct download: ICR101-Laura-Thurlow-Love-Humanity.mp3
Category:investing -- posted at: 2:00am UTC

In this episode of Informed Choice Radio, Martin looks back over the past 100 episodes and we hear from some past guests on the show.

He interviews someone very close to home, Nick Bamford, executive director and founder at Informed Choice.

And then they look to the future, for both this podcast and the business itself.

There is also a roundup of the latest personal finance news and an update from the world of Informed Choice.

The Live Episode

This was a very special episode of Informed Choice Radio, celebrating the milestone of 100 episodes.

It was broadcast live on Blab.im, with Martin hosting the show along with Nick, who he interviewed briefly.

Martin and Nick also played messages from past guests Chris Budd, Pete Matthew, Michelle Hoskin, Simonne Gnessen, Michelle McGagh and Keith Richards.

Fellow podcast Roger Edwards popped in to say hello too!

Personal finance news update

-Lloyds Bank is closing another 200 branches and cutting 3,000 more jobs, despite reporting a £2.5bn pre-tax profit for the half year to the end of June.

-More than six million people have now been automatically enrolled in a workplace pension scheme. 

-Credit card providers are doing too little to address persistent debt, according to the Financial Conduct Authority. 

-The average house price in the UK has exceeded £205,000 on average for the first time. 

-Despite appearing confident about their short-term finances, a fundamental shift in priorities is causing 30 year old women to grow increasingly concerned about their financial future. 

Direct download: Episode_100-MP3_for_Audio_Podcasting.mp3
Category:investing -- posted at: 2:00am UTC

Pensions have become increasingly political in recent years.

They rarely seem to be out of the headlines and the recent appointment of a new Prime Minister has created fresh debate around the importance of pensions policy in government.

In this episode of Informed Choice Radio, I speak to Steve Webb.

Steve is formerly Minister of State for Pensions, in David Cameron’s coalition government from 2010 to 2015.

He is now Director of Policy and External Communications at the insurance giant Royal London.

In this episode of Informed Choice Radio, we cover a lot of ground, talking about the importance of the pension portfolio in government and what it means to move this to a more junior ministerial role.

We also talk about Steve’s big three achievements as Pensions Minister and what he ran out of time to do.

Steve was famously quoted saying he would be relaxed in pensioners used their new freedoms to buy a Lamborghini with their pensions pots, and fall back on the state pension in later life.

We talk about that and how responsible pensioners have been since the introduction of new pension freedoms.

There are also questions about the challenges faced by new retirees who receive a flat-rate state pension, a possible solution to the Women Against State Pension Inequality, or WASPI, campaign; and why a growing number of people are making their homes their pensions.

Welcome to Politics of Pensions with Steve Webb, in episode 099 of Informed Choice Radio.

Some questions I ask

-How important is it for Pensions Minister to be a senior role in government?

-What were your biggest achievements as Pensions Minister?

-Did people rush out to buy a new Lamborghini as a result of pension freedoms?

-What will the new flat-rate state pension mean for future generations of pensioners?

-Can you give any advice to younger people who are being told to work longer and save more for retirement?

-What is your stance on the WASPI campaign? Is there a solution which satisfies everyone?

-Should people rely on their property to fund their retirement?

Help us spread the word!

Thank you for listening to this episode of Informed Choice Radio.

If you enjoyed this episode, please share it with a friend or on social media.

If you enjoy the show, please subscribe in iTunes and write us a review! Reviews really help us stand out from the crowd and reach more listeners.

Direct download: ICR099-MP3_for_Audio_Podcasting.mp3
Category:investing -- posted at: 2:00am UTC