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In episode 146 of Informed Choice Radio, Martin reviews Dave Ramsey's seven baby steps to financial freedom.

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

Dave Ramsey's Seven Baby Steps

Dave Ramsey is an American personal finance guru, author, radio host, TV personality and motivational speaker. He has a syndicated radio programme and YouTube show, The Dave Ramsey Show, and has written several New York Times bestsellers.

He likes to use financial rules of thumb to get his followers to take action, and his seven baby steps are all about simple steps for taking control of your money.

In this episode, Martin runs through Dave Ramsey's seven baby steps and explains how you can apply them to improve your own personal finances.

Personal finance news update

-Over a third of Brits are very or fairly concerned about being able to meet their financial commitments in 2017.

-The Financial Conduct Authority is urging over 55s to undertake the necessary checks when investing in financial products.

-Final salary pension schemes face a ‘tough’ year ahead in 2017, with many simple ‘treading water’.

-Two charities have been fined over data protection breaches, because they secretly screened the wealth of potential donors.

-The European Central Bank has extended its programme of quantitative easing until December 2017, albeit at a slower pace.

 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.icradio.co.uk/voicemail to leave an online voice message.

Our latest iTunes review

I heard about the Informed Choice podcast through the Meaningful Money podcast and have not been disappointed. In the last few months I’ve worked my way through around 125 episodes and have nearly caught up to the current episode. Packed with top quality interviews, personal finance news updates and a nice light hearted peak behind the scenes of Informed Choice.

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 by using the social media buttons on this page.

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.

 


My guest for this episode of Informed Choice Radio is Adam Piplica.

Adam made a career change into financial planning after spending years studying investment and financial planning in his spare time. His original career was in market research and data analysis.

Now a Diploma qualified Paraplanner at a firm of Chartered Financial Planners in York, Adam is organising Money Life Live. This a life-changing event for people who may not have ever considered meeting with a financial planner before, but want more out life.

To make Money Life Live a reality, Adam has brought together a number of financial experts and coaches, along with every-day people with extraordinary stories.

In this episode of Informed Choice Radio, I speak to Adam about the role of a Paraplanner, what inspired him to organise Money Life Live, the future of personal finance, priorities when it comes to personal financial planning, and much more.

Welcome to Money Life Live with Adam Piplica, in episode 145 of Informed Choice Radio.

Some questions I ask

-What is the role of a Paraplanner and how does this differ from a Financial Planner?

-What can people expect from Money Life Live?

-Who will be speaking at the event?

-Is financial jargon making it harder for people outside of the finance sector to engage with our services?

-What are some of the main financial priorities you come across?

Useful links mentioned in this episode

Money Life Live

Magical Penny

Adam on Twitter

Thank you for listening!

To get new episodes of Informed Choice Radio sent directly to your device as soon as they are published, you can subscribe on iTunes or Stitcher

Your reviews on iTunes are incredibly helpful and really appreciated. We get notified about each one; please leave a note of your name and website URL so we can mention you in a future episode.

Direct download: ICR145_Adam_Piplica_Money_Life_Live-MP3_for_Audio_Podcasting.mp3
Category:investing -- posted at: 1:00am UTC

My guest for this episode of Informed Choice Radio is Michael Fotis.

Mike is a man on a mission.  He’s the founder of Smart Money People, a business seeking to deliver real change in financial services by leveraging the power of its unique customer insight.

His clients include retail banks, building societies, insurers, alternative finance providers and trade associations.

Mike has written about financial services for a number of publications, including The Spectator, The Money Advice Service and ResPublica. He’s spoken at events including the ABI’s Big Data conference.

In this episode of Informed Choice Radio, I speak to Mike about whether the boring reputation of financial services results in swerving scrutiny about their customer experience, what the rise in FinTech means for customer service in financial services, if customer reviews can be manipulated by the firms seeking them, and much more.

Welcome to Smart Money People with Michael Fotis, in episode 144 of Informed Choice Radio.

Some questions I ask

-Why do banks have such a poor reputation for customer service and for trust?

-Why do you think there’s that disconnect between someone’s individual experience with their bank or insurance company or fund manager, whoever it might be, and a collective reputation of the sector?

-How do you work with banks and other financial services companies to improve their reputation or help them improve their reputations?

-Talk to me about transparency. What role does that play when we’re trusting a large organisation?

-With all of this growth in Fintech do you think that’s going to force the established players to up their game a bit?

Thank you for listening!

To get new episodes of Informed Choice Radio sent directly to your device as soon as they are published, you can subscribe on iTunes or Stitcher

Your reviews on iTunes are incredibly helpful and really appreciated. We get notified about each one; please leave a note of your name and website URL so we can mention you in a future episode.

Direct download: ICR144_Mike_Fotis-MP3_for_Audio_Podcasting.mp3
Category:investing -- posted at: 12:30am UTC

In episode 143 of Informed Choice Radio, Martin is searching for the Santa Rally and explaining why investors should pay it no attention at all.

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

Searching for the Santa Rally

Stock markets often have a pretty good time of it in December.

This is known as the Santa Rally or December Effect. It was first recorded by Yale Hirsch in his Stock Traders Almanac back in 1972, and since then it’s been frequently observed by investors and analysts.

New research by Schroders has found stockmarkets are more likely to rise in December than during any other month. The research looked at nearly three decades worth of data before confirming the existence of a Santa Rally.

In this episode of Informed Choice Radio, Martin is searching for the Santa Rally before explaining why investors should ignore it.

Personal finance news update

-House price growth has slowed to its lowest rate since January.

-Bank of England governor Mark Carney has issued a warning about high levels of household debt.

-For nearly three in ten women, the inability to support themselves or their families financially is their greatest financial fear.

-The Organization of the Petroleum Exporting Countries (Opec) have agreed to cut output.

-An influential committee of MPs have criticised HM Revenue & Customs over its lack of scrutiny on whether tax reliefs are being used effectively.

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.icradio.co.uk/voicemail to leave an online voice message.

Direct download: ICR143_Searching_for_the_Santa_Rally.mp3
Category:investing -- posted at: 12:57pm UTC

My guest for this episode of Informed Choice Radio is James Rickards.

Jim is the Editor of Strategic Intelligence, a financial newsletter, and Director of The James Rickards Project, an inquiry into the complex dynamics of geopolitics and global capital.

He is the author of The Road to Ruin (2016) and The New Case for Gold (2016), and two New York Times best sellers, The Death of Money (2014), and Currency Wars (2011).

James is a portfolio manager, lawyer, and economist, and has held senior positions at Citibank, Long-Term Capital Management, and Caxton Associates.

In 1998, he was the principal negotiator of the rescue of LTCM sponsored by the Federal Reserve.

He is an adviser on capital markets to the U.S. intelligence community, and the Office of the Secretary of Defense, and is on the Advisory Board of the Center on Sanctions & Illicit Finance in Washington DC. He served as facilitator of the first-ever financial war games conducted by the Pentagon.

In his new book, The Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis, Jim shares his thoughts on how investors can prepare for the next financial panic and why it’s coming sooner than you think.

In this episode of Informed Choice Radio, I speak to Jim about why he believes the collapse of the global monetary system is inevitable, the possible triggers for the collapse, the role the International Monetary Fund could play, some steps we can all take to protect our wealth, and the role China is playing with massive stockpiling of gold reserves.

Welcome to The Road to Ruin with James Rickards, in episode 142 of Informed Choice Radio.

Some questions I ask

-What inspired you to write this series of books?

-What's going to be the trigger for the next financial collapse?

-What will the collapse look like for the ordinary citizen? How are we going to feel it in our everyday lives?

-Are there any strategies investors can follow to deal with the short and long-term impact of the global monetary system collapsing?

-Does China play a role with its stockpiling of gold?

Thank you for listening!

To get new episodes of Informed Choice Radio sent directly to your device as soon as they are published, you can subscribe on iTunes or Stitcher

Your reviews on iTunes are incredibly helpful and really appreciated. We get notified about each one; please leave a note of your name and website URL so we can mention you in a future episode.

Direct download: ICR142_James_Rickards_The_Road_to_Ruin.mp3
Category:investing -- posted at: 1:30am UTC

My guest for this episode of Informed Choice Radio is Gary Antonacci.

Gary has over 40 years’ experience as an investment professional, focusing on underexploited investment opportunities.

Since receiving his MBA from Harvard, Gary has concentrated on researching, developing and applying innovative investment strategies that have their basis in academic research.

His research on momentum investing was the first place winner in 2012 of the prestigious Wagner Awards for Advances in Active Investment Management, an annual award from the National Association of Active Investment Managers.

Gary’s research introduced the investment world to dual momentum; this combines relative strength price momentum with trend following absolute momentum.

Gary is the author of Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk.

The book is based on Gary’s award-winning work and presents an easy-to-understand, straightforward model that transforms momentum concepts into an actionable investing strategy called Global Equity Momentum.

By combining relative-strength momentum and absolute momentum, the book explains a proven methodology to help investors take advantage of intramarket trends while avoiding large drawdowns.

In this episode of Informed Choice Radio, I speak to Gary about how momentum investing works, what his research into dual momentum investing found, the reasons why all investors don’t follow momentum strategies, and what happens in a market where asset prices are closely correlated.

Welcome to Dual Momentum Investing with Gary Antonacci, in episode 141 of Informed Choice Radio.

Episode sponsor

Today’s episode of Informed Choice Radio is sponsored by audible.com – get a FREE audiobook download and 30 day free trial at audibletrial.com/informedchoice. There’s over 180,000 titles to choose from for your iPhone or Kindle.

A title I personally recommend is How to Live a Good Life by Jonathan Fields. This is an excellent and very practical book, a modern-day manual for the life well-lived.

Narrated by Fields himself, the book walks you through 30 days of fun, yet powerful mini-challenges. These are designed to rekindle deep, loving, and compassionate relationships; cultivate vitality, radiance, and graceful ease; and leave you feeling lit up by the way you contribute to the world.

To download your free audiobook today go to audibletrial.com/informedchoice, and download How to Live a Good Life or another free audiobook of your choice.

Some questions I ask

-Can you explain in simple terms how momentum investing works?

-Does momentum investing come with any guarantees, or can future performance vary?

-What happens when the two main styles of momentum investing are combined?

-Why aren’t all fund managers and investors following momentum strategies?

-Can momentum investing be applied using active management as well as passive approaches?

Thank you for listening!

 

To get new episodes of Informed Choice Radio sent directly to your device as soon as they are published, you can subscribe on iTunes or Stitcher

Your reviews on iTunes are incredibly helpful and really appreciated. We get notified about each one; please leave a note of your name and website URL so we can mention you in a future episode.

Direct download: ICR141_Gary_Antonacci_Dual_Momentum_Investing.mp3
Category:investing -- posted at: 1:00am UTC

In this episode of Informed Choice Radio, Martin explains what you really need to know about the Autumn Statement.

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

What you really need to know about the Autumn Statement

On Wednesday, the new Chancellor Philip Hammond delivered his first Autumn Statement to the House of Commons.

Despite being fairly light on new policies, this was an important Autumn Statement; it’s the first proper assessment of the UK economy we have seen since the EU Referendum in June.

In a nutshell, we heard from Hammond that economic growth is forecast to slow down. As a result, the national debt is forecast to rise. There was however some good news for the lowest paid in society and those now referred to as JAMs; the "just about managing".

In this episode of Informed Choice Radio, Martin talks you through some of the main features of the Autumn Statement, as they apply to your personal finances.

1 – £122bn worse off because of Brexit

2 – Salary sacrifice is sacrificed

3 – Money Purchase Annual Allowance slashed

4 – Plans to tackle pension scammers

5 – Market-leading savings bond to be offered

6 – Hammond’s final Autumn Statement

What did you think about Philip Hammond’s first and last Autumn Statement? We would love to hear from you.

Personal finance news update

-The maximum compensation limit for bank customers is being returned to its previous level of £85,000.

-New figures from HM Revenue & Customs show the sale of homes in the UK stayed sluggish during the autumn.

-Brits plan to spend nearly £1,500 each this festive season.

-Nearly a quarter of over-50s plan to cash in their pension after withdrawing their tax-free lump sum, according to a new a survey from Retirement Advantage.

-New research by SunLife has found that 82% of over 50s don’t want a hymn at their funeral and that Always look on the bright side of life from Monty Python’s Life of Brian is the song most would choose to have played instead.

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.icradio.co.uk/voicemail to leave an online voice message.

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 by using the social media buttons on this page.

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: ICR140-MP3_for_Audio_Podcasting.mp3
Category:investing -- posted at: 12:30am UTC

My guest for this episode of Informed Choice Radio is Stewart Cowley.

Stewart has worked in financial markets in New York and London since the 1980s. He has written columns for many of the world’s leading business publications including the Sunday Telegraph and the financial publisher Citywire.

Stewart is a regular guest on BBC’s Newsnight, Radio 4 and Sky News.

His new book is Man vs. Money: Understanding the Curious Economics that Power Our World.

In Man vs. Money, Stewart distills the complexities of the economy and provides an essential guide to modern-day money and our relationship with it.

Along the way he explains how the statistics that govern our world are based on guesswork, why stock markets are like a wandering drunken man, what you need to live like a millionaire and why cooking has made man the dominant species on the planet.

Man vs Money shows you how understanding a little more economics can improve your life.

In this episode of Informed Choice Radio, I speak to Stewart about how debt has become a way of life, why Donald Trump and Jeremy Corbyn are in fact joined at the hip, why Mark Carney will never raise interest rates at the Bank of England, how Bitcoin is breaking banking models, and how business, like love, will find a way when it comes to Brexit.

Welcome to Man vs. Money with Stewart Cowley, in episode 139 of Informed Choice Radio.

Win a copy of Man vs Money

I’ve got a copy of Man vs Money by Stewart Cowley to give away to one lucky listener.

Here’s how you can win. Leave an honest review of the Informed Choice Radio podcast on iTunes or Stitcher.

You can find us on iTunes by visiting icradio.co.uk/itunes and on Stitcher at icradio.co.uk/stitcher.

Once you’ve left your review, let us know about it and we will put your name in the hat to win a copy of Man vs Money by Stewart Cowley.

Drop me an email to martin@icfp.co.uk or tweet me at @martinbamford to let me know you’ve left a review.

I’ll announce the winner in episode 143 of Informed Choice Radio, next Friday, 2nd December 2016, so leave your review and get in touch please by midday on Wednesday 30th November.

Thank you for listening!

To get new episodes of Informed Choice Radio sent directly to your device as soon as they are published, you can subscribe on iTunes or Stitcher

Your reviews on iTunes are incredibly helpful and really appreciated. We get notified about each one; please leave a note of your name and website URL so we can mention you in a future episode.

Direct download: ICR139_Stewart_Cowley-MP3_for_Audio_Podcasting.mp3
Category:investing -- posted at: 12:30am UTC

My guest for this episode of Informed Choice Radio is James Mee.

James is an investment manager at Waverton Investment Management.

He joined the company in September 2012 as an Assistant Portfolio Manager for the Managed Portfolio Service Team. He is now the lead manager of the Waverton Cautious Income Fund and sits on the Macro Research Team contributing macro analysis and reports to the Asset Allocation Committee.

James graduated from Bristol University in 2012 with a degree in Law and is a CFA charterholder. In May 2016 he won the WealthBriefing European Rising Star Award.

In this episode of Informed Choice Radio, I speak to James about the challenges investors face generating a reasonable level of income from their portfolios, why income investing still has a future, the first steps in building an income portfolio, how diversification works for investors and why 2017 could be a repeat of 2016.

Because we’re talking about investing money in this episode, a couple of important reminders. This podcast does not represent a personal recommendation or advice. You should speak to an independent financial adviser before making any investment decisions. The value of your investments can go down as well as up. Past performance is not a guide to future performance.

With that said, welcome to Income Investing with James Mee, in episode 138 of Informed Choice Radio.

Episode sponsor

Today’s episode of Informed Choice Radio is sponsored by audible.com – get a FREE audiobook download and 30 day free trial at audibletrial.com/informedchoice. There’s over 180,000 titles to choose from for your iPhone or Kindle.

A title I personally recommend is The Antidote: Happiness for People Who Can’t Stand Positive Thinking, written and narrated by Oliver Burkeman.

I finished this one just last week and it’s a fascinating new book, which Burkeman narrates himself. He argues that “positive thinking” and relentless optimism aren’t the solution to the happiness dilemma, but part of the problem. In The Antidote, Burkeman sets out an alternative path to contentment and success that involves embracing the things we spend our lives trying to avoid – uncertainty, insecurity, pessimism, and failure.

To download your free audiobook today go to audibletrial.com/informedchoice, and download The Antidote or another free audiobook of your choice.

Some questions I ask

-What are the challenges that investors currently face around generating a realistic income level from their portfolios?

-So what’s the life of an income investor like today? Is it still something that people are actively pursuing?

-Is there a balance that can be struck between maintaining an acceptable level of income from your portfolio and ensuring that it’s sustainable – it’s not eroding the capital. What should investors be considering if they are chasing that high yield?

-For an investor looking to start an income portfolio, what would be the first steps? How would they start building that portfolio? What would they look for to include within that type of portfolio?

-Do you think that portfolios are going to need to change as a result of Brexit as a result of president Trump?

-Do income investment tragedies need to change as we get older as we enter retirement?

Useful links mentioned in this episode

Waverton Investment Management

Insights article from Waverton

Waverton Cautious Income Fund

Thank you for listening!

To get new episodes of Informed Choice Radio sent directly to your device as soon as they are published, you can subscribe on iTunes or Stitcher

Your reviews on iTunes are incredibly helpful and really appreciated. We get notified about each one; please leave a note of your name and website URL so we can mention you in a future episode.


In this episode of Informed Choice Radio, Martin talks about solving the biggest problem with living longer.

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

How to Solve the Biggest Problems With Living Longer

Earlier this week Martin gave a presentation at the Cranleigh Chamber of Commerce breakfast meeting. This episode includes a re-recording of that presentation.

Martin talks about a remarkable French lady and the deal she did with a property lawyer, the state of longevity in the UK today, what is on the cards for the State Pension, how reform of funding adult social care was watered down, and why many older people feel they are second-class citizens.

He finishes with five ideas to address the challenges of an ageing population and helping people live well in later life.

1 – Become a Dementia Friend

2 – Become more accessible to older customers

3 – Invest in your old age today

4 – Talk to your kids about the future

5 – Re-rethink retirement

Personal finance news update

-The Financial Conduct Authority has warned some consumers might not fully understand the new Lifetime ISAs which are due to launch next April.

-Unemployment in the UK has fallen to reach an 11-year low, according to new figures.

-Early exit penalties for people withdrawing money from their pension pots are set to be capped at 1%.

-Teenagers are ill-prepared for the financial realities of adulthood, according to the Money Advice Service.

-Grandparents are gearing up to spoil their grandchildren to the tune of £1.4bn this Christmas according to research by Saga Money.

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.icradio.co.uk/voicemail to leave an online voice message.

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 by using the social media buttons on this page.

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: ICR137_How_To_Solve_The_Biggest_Problems_With_Living_Longer.mp3
Category:investing -- posted at: 12:30am UTC