The Meaningful Money Personal Finance Podcast Podcast Por Pete Matthew arte de portada

The Meaningful Money Personal Finance Podcast

The Meaningful Money Personal Finance Podcast

De: Pete Matthew
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Pete Matthew discusses and explains all aspects of your personal finances in simple, everyday language. Personal finance, investing, insurance, pensions and getting financial advice can all seem daunting, but with the right knowledge and easy-to-follow action steps, Pete will help you to get your money matters in order. Each show is in two segments: Firstly, everything you need to KNOW, and secondly, everything you need to DO to move forward on the subject of that episode. This podcast will appeal to listeners of MoneyBox Live, Wake Up To Money, Listen to Lucy, Which? Money and The Property Podcast. To leave feedback or ask a question, go to http://meaningfulmoney.tv/askpete Archived episodes can be found at http://meaningfulmoney.tv/mmpodcastMeaningfulMoney Ltd Economía Finanzas Personales
Episodios
  • Listener Questions - Episode 27

    Listener Questions - Episode 27
    Sep 24 2025
    This week, we have questions about planning property purchases together as a soon-to-be-married couple, investing an inheritance, balancing an age gap between spouses and much more besides! Shownotes: https://meaningfulmoney.tv/QA27 00:52 Question 1 Hi Pete and Rog, I’ve been listening to the show since 2020, and I absolutely love it. It keeps me grounded in a generation that frivolously spends for the sake of Instagram. Thank you for offering such helpful advice for free. I’m in my early 30s, I have no bad debt, regularly contribute to my workplace pension, and have been saving for a 2–3 bedroom house over the past three years. In 2 months I’ll have the 10% deposit (the minimum I want to put down) saved in my LISA. I'm currently renting a really affordable flat with a great landlord. I started saving when I was single, but I met my lovely boyfriend almost two years ago. We’re serious and are planning to get married and move in together in the next 12 to 18 months. Here’s my question: Should I delay buying a house for a year or so until I'm married, or should I buy now and plan to keep it for at least five years—even if, during that time, my boyfriend and I buy a different house and I end up renting this one out? Many thanks, Leah 07:50 Question 2 Love the Podcast guys My Question is about what to do with an unexpected inheritance (likely to be around £150,000 from the sale of my late parents' house) a year before remortgaging. For context; both my Wife and I have recently become Additional Rate tax payers with a defined benefit NHS pension. We can max out ISA contributions for a few years (including LISA for the next 6yrs) but with no personal saving allowance and only being able to effectively get savings rates of <3% in GIAs we are drawn to an Offset mortgage (current mortgage 21yrs to run ~£330k remaining LTV 40%) but these don't seem to be popular and don't get mentioned much. I estimate within 5yrs we'd be paying 0% interest and could start drawing down from the offset savings pot. This seems like a hedge against uncertainty (and allows us access to the funds cf to paying off the mortgage) and would be effectively paying us whatever the mortgage rate would be (>4%). Would welcome your thoughts on this Gareth + Helen 12:27 Question 3 Hi Pete and Roger, I've been following your channel for over a year now, and I’m really grateful for the practical insights—wish I’d discovered you years ago! Your guidance has helped me make some much-needed improvements to my financial planning. My question is: Could you provide any guidance for couples with an age gap on balancing pension contributions and withdrawals, as well as utilising ISAs, to effectively phase-in their retirements together? My Civil Partner and I have an 8-year age gap, which didn’t matter in our 20s and 30s, but 20 years later, with some middle-aged aches and pains! We want to align our plans better to enjoy more time together, rather than one of us retiring much later or sooner than the other. We underutilised pensions, unfortunately, but hold equity in two properties and decent cash savings. We are now mortgage free and plan to boost our pensions. Within 10 years, we might buy a small flat in Malaysia (his home country) and downsize our UK home from Manchester to Scotland (my 'home country'!). We hope to split time between the UK and Malaysia or possibly settle over there, drawn by the affordable living and our fondness for the country. Best wishes, James 18:53 Question 4 Love the show, you guys accompany me on walks when I have a break from work. I have two questions but this may be a bit much so I have broken them down I have possibly an easy question for you but one that I can’t find the answer to online. My wife is a teacher with a final salary pension estimate of £23.5k p/a. We’re unsure whether or not this will provide for a comfortable retirement, so we are considering making additional savings for retirement. My wife is a basic rate taxpayer and currently 39 so my question is whether it is better to invest the money in a lifetime ISA and effectively get the tax relief through government top up, as when she comes to retirement the additional income that would come from the LISA would be tax-free and not subject to income tax, or invest in a SIPP but this would incur income tax when accessed? To me it seems a no brainer as the tax benefit on the way in is effectively the same but there is no tax burden on the way out of LISA versus a pension am I being dim or is this the right way to go? I am a higher rate taxpayer so I know that to get the most tax efficiency it should go in my pension but there’s a possibility I would be a higher rate taxpayer in retirement too so not sure it’s sensible to have it all in my name (also mindful of lifetime allowance being reinstated) Other question is more complicated and around planning for me. I’m 38, a higher rate TP recently earning £90k p...
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    43 m
  • Listener Questions - Episode 26

    Listener Questions - Episode 26
    Sep 17 2025
    Some great questions this week about planning for the loss of the personal allowance, investing in GIAs, persuading an aunt to write a will, and much more besides! Shownotes: https://meaningfulmoney.tv/QA26 01:11 Question 1 Dear Roger and Pete, I enjoy listening to your show driving to work. You are both down to earth and humble with your opinions. I read a lot on finance and have been investing in stocks and share ISA since 2004 and VCTs since 2017. I have built a healthy portfolio of nearly 300k in VCT, 400k in Stocks and share ISA. I also have a healthy DC pension of roughly 700k and DB pension worth around 10k per year from age 60. I am approaching 50th birthday this year and so decided to use up some of my cash savings which is in excess of my target investment of 20k in ISA and 50 k in VCT(as unable to go over 10k in pension (due to annual allowance threshold). I know I am fortunate and I also live frugally as that's my nature and don't have too many wants. The question is if I have roughly 80k in mortgage and I have the ability to clear it, should I invest that 80k in VCT on top of my regular VCT allocation of 50k and get the 30% tax benefit(as I am unable to get much tax benefit from my pension) or clear my mortgage as the mortgage is coming up for renewal and likely interest rate will be 4-4.5%. I am torn as I understand in my head that 80 k invested is better than clearing the mortgage over a 20-30 year time frame, but as I am going to be 50 and would like to clear the mortgage and have freedom to decide if I want to enter a life of FIRE or have the ability to FIRE if I get bored. However, I have kids in school and so unlikely I will FIRE until they go to university. Sorry about the long question. Thank you, Fred. 06:25 Question 2 Hello Pete / Roger, Great podcast! I hope karma holds true and all the good you give out back comes back to you both! Question: I am a higher rate taxpayer who maximises their pension, stocks & shares ISA and other best tax sheltered places so need to also build wealth in a taxable GIA. What is best strategy for a higher rate tax payer to do this... dividend / income generating stocks or accumulating (non dividend paying) investments and pay CGT at some stage (regularly)? Thanks, appreciated as ever and hope may help others Ivana 10:43 Question 3 Hi, Nick (who I assume will read this first), Pete and Roger, I'm not sure if this is a suitable question for the podcast but here goes. How can we persuade an aged aunt that she needs to write a will, as us knowing what her wishes are is not sufficient. I have an aunt who has no children but she has said she wants her estate split equally between her 8 nieces and nephews but she refuses to make a will. The problem is that if she dies intestate there is an estranged brother who would be a beneficiary as far as we understand and so what she wants to happen won't happen. Richard J 15:50 Question 4 Hi Pete and Rog My husband and I have been MM diehards for many years. We think It’s a sad reflection of the state of nation when David Beckham gets considered for a gong before Pete does! I wanted to ask you about UK T-Bills because they are rarely (if ever) mentioned in your discussion of financial instruments. We are at retirement age I have a few DB pensions and a SIPP with Interactive Investor of approx. £300k. About ½ is sitting in Cash (including short term money market funds) because we want to draw out our 25% tax free allowance within the next 2 years and we want to minimise risk until that time arrives. I still want to diversify my low risk investments as much as possible into bonds but my experience of bond funds is that they can also drop significantly with economic conditions whereas we want something to deliver us a (near as possible) guaranteed return. Our platform (ii) allows us to purchase bonds on the primary market however they are too long-term for us to see them through to maturity given our timescales. The platform has started to release UK T-Bills which seem typically much shorter term (3 or 6 months) and therefore appear to give us what we are looking for (guaranteed rate at a decent %) and very low risk. I know the % return is determined by the ‘auction’ but it currently looks to be around 4.5% on average (especially the 3-month ones). We plan to apply the bond ladder concept and buy these T-bills over the next few years on a rolling basis. As they are very short term, if rates drop we can change our strategy mid-plan so I think it also gives us a degree of flexibility too. Have we overlooked something obvious as it seems to fit our needs perfectly for the next couple of years? We are very hands-on on the platform so we don’t mind getting stuck into the action process (which looks straightforward). I’d be interested if you had any additional insight / comment on T-Bills being used for this or other strategies. Regards, Gilly 22:55 Question 5 Hi Pete, Roger, Thank you for ...
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    33 m
  • Listener Questions - Episode 25

    Listener Questions - Episode 25
    Sep 10 2025
    It’s another packed and mixed bag of questions here on Meaningful Money. Today we deal with Seafarer’s pension contributions, tax-free cash on DB pension schemes and annual allowance calculations. Plus we give some thought to the evolution of the show… Shownotes: https://meaningfulmoney.tv/QA25 01:10 Question 1 Hi Pete and Roger Many thanks for all that you do. I am a long time podcast listener and happy client of Jacksons. I am currently playing catch up on the current series and have a couple of thoughts on points raised in two episodes. In episode 3 - there was a question on pensions and the answer included the point that when making contributions to a scheme they are generally paid net and the scheme reclaims basic rate tax from HMRC. Just to say that this is not always the case. My employer recently moved its scheme to an Aviva master trust. I wanted to make a lump sum co tribute. Ahead of the tax year end. However I found that the scheme could only accept gross contributions and I would have to reclaim the tax myself. As it was quite a decent sum and I preferred not to wait for the tax I made the contribution into a different scheme. In episode 7 you had a question about moving abroad. The point we made that you can’t continue to contribute to UK tax favoured schemes when abroad which is correct. However there is another watch out in that ISAs in particular may be subject to income tax in the new country of residence - as they were when j lived in the US. It is therefore critical to get advice so you can make the right choices when moving abroad All the best, Richard 05:06 Question 2 I have been listening to your podcast for the last 5 or 6 months. Like so many of your listeners, I have spent many hours catching up on your early episodes, no longer do I watch movies or drama series or wildlife programmes. I listen to Pete. Your advice has been priceless. However, I do have a question that I seemingly cannot find the answer to. Perhaps, I already know the answer, but am putting my head in the sand because I do not like it. I know that the pension tax free lump sum is limited to £268,275 and I believe that this applies to the total taken from multiple pensions. I retired from the police in 2013 as a chief inspector. I took the maximum lump sum available at the time which was £206,000. I started a new job with the NHS and am paying into the NHS 2015 scheme. My projection on retirement from the NHS at age 67 suggests that I can expect a lump sum that combined with my police pension lump sum will take me well beyond £268,275. I have seen some articles on line about lump sum protected allowances, but do not know if this is something I can access. Clearly, if all I can take from my NHS pension is £62,275 I will be paying 40% on a greater proportion of my pension in payment. I suspect there may be others like me that maxed our their lump sum when first retiring and have gone on to further employment and have built up a tidy pension that has the potential to pay out another handsome lump sum. Your advice is gratefully appreciated. Kind regards, John 11:25 Question 3 Hi Pete and Rog Always a delight when a new episode comes out – I hope Rog is getting fairly compensated for his efforts! I have been a keen listener for a number of years though until recently had lived outside of the UK, so while not everything was applicable (ISAs or pension contribution limits etc), the podcast has always been a valuable tool as I improve my personal finances I have a question I was hoping you could clarify for me which relates to questions you answered on previous podcast Q&A. Trying to keep it short but failing: On a couple of occasions when talking about pensions there seems to be an assumption that your income will fall in retirement and so income tax on the way out of the pension is less relevant. You recently had a question around moving money from a Lifetime ISA to a SIPP for a higher rate tax payer who was moving abroad and the calculation / discussion went something like: Invested 4k, got the extra 1k but have to take a 25% penalty when taking the money out so down to 3.75k. Then when investing that back into a SIPP you get tax relief so back up to 4.7k or even 6.25 with higher rate relief. Then the discussion seemed to suggest in such a case you might even be better off than if you had left it in the LISA. However, doesn’t this depend on what your tax rate is on retirement / withdrawal? Now on to my question: Similarly, you had someone who had maxed out their annual pension contribution limit and they were trying to decide whether to pay more in to their pension (foregoing the tax relief) or to put it in to a GIA. This is a situation I find myself in and the Q&A discussion seemed to suggest it doesn’t make much difference. There were comments that an ISA would be better than a GIA but assuming the ISA allowance was already fully used then there was little difference...
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    33 m
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