What can history teach us about investing? Is there a right way? Russell Napier—financial historian, author of The Anatomy of the Bear, and founder of the Library of Mistakes—shares what centuries of market behavior reveal about asset allocation, financial repression, and why even the smartest investors get it wrong.

📖 Here’s my free investing course if you don’t fancy reading all the books

https://makingmoney.email/investing-course-audio

🎉Sponsors

Odoo - try their Sign app for free: https://www.odoo.com/r/MM

Vanta - Get your company secure and compliant, with $1k off: https://vanta.com/makingmoney

Tide - Get up to 4.22% AER (variable) on your business savings. Use this link https://www.tide.co/offers/makingmoney or the code 'MAKINGMONEY'. You'll also get £100 if you fund your account with £5,000 in the first 30 days. Ts&Cs apply. 

The more you save, the higher the rate—up to 4.22% AER (variable) on balances over £1M. New Tide members receive these rates free for 6 months, then your Tide plan’s savings rate and thresholds apply. Visit https://tide.co/savings for full terms and conditions.

📈 Investment platforms we use:

Trading 212

Watch this video where Damo explains how to get the most from it: https://youtu.be/BVVZhrM0LVQ

Get a free share worth up to £100 when you sign up for a new Invest or ISA account and deposit at least £1.

Use the code ‘MM’ or this link: https://www.trading212.com/join/MM

InvestEngine 

Get up to a £50 bonus when you invest at least £100.

https://investengine.pxf.io/daOD2Q

Vanguard

Minimum investment of £500 or £100/month.

https://www.vanguardinvestor.co.uk/

–

If you purchase a product or service using one of the links above, we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.

This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.

Living standards have stalled — you're worse off than 20 years ago. How do we fix it? David Willetts is a Conservative Member of the House of Lords and President of the Resolution Foundation, where he looks at intergenerational fairness, the theme of his book The Pinch. One of the foundation’s more controversial ideas? Capping ISAs at £100k. 

🤝 Want help planning your future from a financial advisor?

Get personal support from an advisor we rate: https://makingmoney.email/financial-advisors-audio

🎉 Sponsors

Odoo - test their Sign app for free: ⁠⁠⁠https://www.odoo.com/r/MM⁠⁠

Vanta - Get your company secure and compliant, with $1k off: ⁠https://vanta.com/makingmoney⁠

Tide - Get up to 4.22% AER (variable) on your business savings. Use this link https://www.tide.co/offers/makingmoney or the code 'MAKINGMONEY'. You'll also get £100 if you fund your account with £5,000 in the first 30 days. Ts&Cs apply. 

The more you save, the higher the rate—up to 4.22% AER (variable) on balances over £1M. New Tide members receive these rates free for 6 months, then your Tide plan’s savings rate and thresholds apply. Visit https://tide.co/savings for full terms and conditions.

📈 Investment platforms we use:

Trading 212

Watch this video where Damo explains how to get the most from it: https://youtu.be/BVVZhrM0LVQ

Get a free share worth up to £100 when you sign up for a new Invest or ISA account and deposit at least £1.

Use the code ‘MM’ or this link: https://www.trading212.com/join/MM

InvestEngine 

Get up to a £50 bonus when you invest at least £100.

https://investengine.pxf.io/daOD2Q

Vanguard

Minimum investment of £500 or £100/month.

https://www.vanguardinvestor.co.uk/

–

If you purchase a product or service using one of the links above, we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.

This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.

What are annuities and are they worth it in 2025? With interest rates rising, annuities, which give you a guaranteed retirement income, have been making a comeback. Mark Ormston from Retirement Line, one of the UK’s leading annuity brokers, explains how they work, what returns you can expect and whether they make sense for your pension strategy.

🤝 Make the most of your money with a financial adviser

Get professional support 1:1 with your finances: https://makingmoney.email/financial-advisors-audio

⛑️ Free guides, courses and financial health check

Learn how to build long-term wealth in the UK: https://linktr.ee/makingmoneypod

🎉 Sponsors

Odoo - test their Sign app for free: https://www.odoo.com/r/MM

Vanta - Get your company secure and compliant, with $1k off: https://vanta.com/makingmoney

Tide - Get up to 4.22% AER (variable) on your business savings. Use this link https://www.tide.co/offers/makingmoney or the code 'MAKINGMONEY'. You'll also get £100 if you fund your account with £5,000 in the first 30 days. Ts&Cs apply. 

The more you save, the higher the rate—up to 4.22% AER (variable) on balances over £1M. New Tide members receive these rates free for 6 months, then your Tide plan’s savings rate and thresholds apply. Visit https://tide.co/savings for full terms and conditions.

📈 Investment platforms we use:

Trading 212

Watch this video where Damo explains how to get the most from it:⁠ https://youtu.be/BVVZhrM0LVQ⁠

Get a free share worth up to £100 when you sign up for a new Invest or ISA account and deposit at least £1.

Use the code ‘MM’ or this link:⁠ https://www.trading212.com/join/MM⁠

InvestEngine 

Get up to a £50 bonus when you invest at least £100.

⁠https://investengine.pxf.io/daOD2Q⁠

Vanguard

Minimum investment of £500 or £100/month.

⁠https://www.vanguardinvestor.co.uk/

–

If you purchase a product or service using one of the links above (including Retirement Line), we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.

This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.

Why isn’t the UK growing — and can it be fixed? Venture capitalist Jon Moynihan, appointed to the House of Lords by Liz Truss, lays out his case for what’s holding Britain back. In his two-volume work Return to Growth: How to Fix the Economy, he argues the UK needs lower taxes, less regulation, and a smaller state to return to prosperity.

🤝 Make the most of your money with a financial adviser

Get a financial plan checked by a professional: ⁠https://makingmoney.email/financial-advisors-audio⁠

⛑️ Free guides, courses and financial health check

Learn how to build long-term wealth in the UK: ⁠https://linktr.ee/makingmoneypod⁠

🎉 Sponsors

Odoo - test their Sign app for free: ⁠https://www.odoo.com/r/MM⁠

Vanta - Get your company secure and compliant, with $1k off: ⁠https://vanta.com/makingmoney⁠

Tide - Get up to 4.22% AER (variable) on your business savings. Use this link ⁠https://www.tide.co/offers/makingmoney⁠ or the code 'MAKINGMONEY'. You'll also get £100 if you fund your account with £5,000 in the first 30 days. Ts&Cs apply. 

The more you save, the higher the rate—up to 4.22% AER (variable) on balances over £1M. New Tide members receive these rates free for 6 months, then your Tide plan’s savings rate and thresholds apply. Visit ⁠https://tide.co/savings⁠ for full terms and conditions.

📈 Investment platforms we use:

Trading 212

Watch this video where Damo explains how to get the most from it:⁠⁠ https://youtu.be/BVVZhrM0LVQ⁠⁠

Get a free share worth up to £100 when you sign up for a new Invest or ISA account and deposit at least £1.

Use the code ‘MM’ or this link:⁠⁠ https://www.trading212.com/join/MM⁠⁠

InvestEngine 

Get up to a £50 bonus when you invest at least £100.

⁠⁠https://investengine.pxf.io/daOD2Q⁠⁠

Vanguard

Minimum investment of £500 or £100/month.

⁠⁠https://www.vanguardinvestor.co.uk/

–

If you purchase a product or service using one of the links above, we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.

This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.

What if the market crashes or a recession hits just as you stop working — could you afford it? Financial planner George Agan breaks down the risks many people overlook when planning for retirement. We discuss how much you might really need, why rules of thumb like the 4% rule can fall short, and what to do if returns don’t go as expected.

🗝️ Want George's help planning your retirement?

You can email him here: [email protected]

This is his firm: https://fcadvice.co.uk/about-us/meet-the-team/george-agan/

⛑️ Free guides, courses and financial health check

Learn how to build long-term wealth in the UK: ⁠https://linktr.ee/makingmoneypod⁠

🎉 Sponsors

Odoo - test their Sign app for free: ⁠https://www.odoo.com/r/MM⁠

Vanta - Get your company secure and compliant, with $1k off: ⁠https://vanta.com/makingmoney⁠

Tide - Get up to 4.22% AER (variable) on your business savings. Use this link ⁠https://www.tide.co/offers/makingmoney⁠ or the code 'MAKINGMONEY'. You'll also get £100 if you fund your account with £5,000 in the first 30 days. Ts&Cs apply. 

The more you save, the higher the rate—up to 4.22% AER (variable) on balances over £1M. New Tide members receive these rates free for 6 months, then your Tide plan’s savings rate and thresholds apply. Visit ⁠https://tide.co/savings⁠ for full terms and conditions.

–

If you purchase a product or service using one of the links above (including George's firm), we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.

This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.

We answer some of your top investing questions. We’ve seen massive drops this year—are we in for another crash? What should you do when the market is volatile? What’s the easiest way to invest in gold? How should you approach investing vs saving?

Damo's free course on investing in index funds 📨 

⁠https://makingmoney.email/investing-course-audio

Our free webinar on how to invest a lump sum💰  

https://makingmoney.email/lump-sum-recording

🤝 Make the most of your money with a financial adviser

Get professional support 1:1 with your finances: ⁠https://makingmoney.email/financial-advisors-audio⁠

⛑️ Free guides, courses and financial health check

Learn how to build long-term wealth in the UK: ⁠https://linktr.ee/makingmoneypod⁠

🎉 Sponsors

Odoo - test their Sign app for free: ⁠https://www.odoo.com/r/MM⁠

Vanta - Get your company secure and compliant, with $1k off: ⁠https://vanta.com/makingmoney⁠

Tide - Get up to 4.22% AER (variable) on your business savings. Use this link ⁠https://www.tide.co/offers/makingmoney⁠ or the code 'MAKINGMONEY'. You'll also get £100 if you fund your account with £5,000 in the first 30 days. Ts&Cs apply. 

The more you save, the higher the rate—up to 4.22% AER (variable) on balances over £1M. New Tide members receive these rates free for 6 months, then your Tide plan’s savings rate and thresholds apply. Visit ⁠https://tide.co/savings⁠ for full terms and conditions.

📈 Investment platforms we use:

Trading 212

Watch this video where Damo explains how to get the most from it:⁠⁠ https://youtu.be/BVVZhrM0LVQ⁠⁠

Get a free share worth up to £100 when you sign up for a new Invest or ISA account and deposit at least £1.

Use the code ‘MM’ or this link:⁠⁠ https://www.trading212.com/join/MM⁠⁠

InvestEngine 

Get up to a £50 bonus when you invest at least £100.

⁠⁠https://investengine.pxf.io/daOD2Q⁠⁠

Vanguard

Minimum investment of £500 or £100/month.

⁠⁠https://www.vanguardinvestor.co.uk/

–

If you purchase a product or service using one of the links above, we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.

This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.

What is going on with the world's economy? It all started way before 2025 says Ha-Joon Chang, one of the world’s leading economists. He joins us to unpack the deeper causes of today’s instability and inequality. With over 2.5 million books sold worldwide — including 23 Things They Don’t Tell You About Capitalism and Edible Economics— Chang argues that the dominant economic theory of the last 40 years, neoliberalism, has failed the many while enriching the few. Get Edible Economics here: https://shorturl.at/kZM7f

🤝 Make the most of your money with a financial adviser

Get professional support 1:1 with your finances: ⁠https://makingmoney.email/financial-advisors-audio⁠

⛑️ Free guides, courses and financial health check

Learn how to build long-term wealth in the UK: ⁠https://linktr.ee/makingmoneypod⁠

🎉 Sponsors

Odoo - test their Sign app for free: ⁠https://www.odoo.com/r/MM⁠

Vanta - Get your company secure and compliant, with $1k off: ⁠https://vanta.com/makingmoney⁠

Tide - Get up to 4.22% AER (variable) on your business savings. Use this link ⁠https://www.tide.co/offers/makingmoney⁠ or the code 'MAKINGMONEY'. You'll also get £100 if you fund your account with £5,000 in the first 30 days. Ts&Cs apply. 

The more you save, the higher the rate—up to 4.22% AER (variable) on balances over £1M. New Tide members receive these rates free for 6 months, then your Tide plan’s savings rate and thresholds apply. Visit ⁠https://tide.co/savings⁠ for full terms and conditions.

📈 Investment platforms we use:

Trading 212

Watch this video where Damo explains how to get the most from it:⁠⁠ https://youtu.be/BVVZhrM0LVQ⁠⁠

Get a free share worth up to £100 when you sign up for a new Invest or ISA account and deposit at least £1.

Use the code ‘MM’ or this link:⁠⁠ https://www.trading212.com/join/MM⁠⁠

InvestEngine 

Get up to a £50 bonus when you invest at least £100.

⁠⁠https://investengine.pxf.io/daOD2Q⁠⁠

Vanguard

Minimum investment of £500 or £100/month.

⁠⁠https://www.vanguardinvestor.co.uk/

–

If you purchase a product or service using one of the links above, we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.

This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.

*This episode was published in December 2023*

It feels like we pay a lot of tax in the UK but is that really true? Where do our taxes actually go? Are they wasted? And are we going to have to pay more in the future? Paul Johnson is the Director of the insanely well respected Institute for Fiscal Studies and in this episode he explains how we’ve got into this pickle, how we can get out of it - and why our feelings about paying too much tax might not be rooted in reality. 

Paul’s book Follow The Money: https://amzn.to/41aOqXa

🤝 Make the most of your money with a financial adviser

Get professional support 1:1 with your finances: ⁠https://makingmoney.email/financial-advisors-audio⁠

⛑️ Free guides, courses and financial health check

Learn how to build long-term wealth in the UK: ⁠https://linktr.ee/makingmoneypod⁠

🎉 Sponsors

Odoo - test their Sign app for free: ⁠https://www.odoo.com/r/MM⁠

Vanta - Get your company secure and compliant, with $1k off: ⁠https://vanta.com/makingmoney⁠

Tide - Get up to 4.22% AER (variable) on your business savings. Use this link ⁠https://www.tide.co/offers/makingmoney⁠ or the code 'MAKINGMONEY'. You'll also get £100 if you fund your account with £5,000 in the first 30 days. Ts&Cs apply. 

The more you save, the higher the rate—up to 4.22% AER (variable) on balances over £1M. New Tide members receive these rates free for 6 months, then your Tide plan’s savings rate and thresholds apply. Visit ⁠https://tide.co/savings⁠ for full terms and conditions.

📈 Investment platforms we use:

Trading 212

Watch this video where Damo explains how to get the most from it:⁠⁠ https://youtu.be/BVVZhrM0LVQ⁠⁠

Get a free share worth up to £100 when you sign up for a new Invest or ISA account and deposit at least £1.

Use the code ‘MM’ or this link:⁠⁠ https://www.trading212.com/join/MM⁠⁠

InvestEngine 

Get up to a £50 bonus when you invest at least £100.

⁠⁠https://investengine.pxf.io/daOD2Q⁠⁠

Vanguard

Minimum investment of £500 or £100/month.

⁠⁠https://www.vanguardinvestor.co.uk/

–

If you purchase a product or service using one of the links above, we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.

This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.

What happens if you die tomorrow? Do you have a will? 60% of people don’t — creating legal and emotional chaos. Meanwhile, 1 in 3 Brits are relying on inheritance to fund their future. It’s no surprise inheritance disputes are rising fast. Martin Holdsworth, a lawyer with 20 years' experience, explains why — and how to avoid them.

Martin's firm is IDR Law: https://idrlaw.co.uk/

🤝 Make the most of your money with a financial adviser

Get professional support 1:1 with your finances: ⁠https://makingmoney.email/financial-advisors-audio⁠

⛑️ Free guides, courses and financial health check

Learn how to build long-term wealth in the UK: ⁠https://linktr.ee/makingmoneypod⁠

🎉 Sponsors

Odoo - test their Sign app for free: ⁠https://www.odoo.com/r/MM⁠

Vanta - Get your company secure and compliant, with $1k off: ⁠https://vanta.com/makingmoney⁠

Tide - Get up to 4.22% AER (variable) on your business savings. Use this link ⁠https://www.tide.co/offers/makingmoney⁠ or the code 'MAKINGMONEY'. You'll also get £100 if you fund your account with £5,000 in the first 30 days. Ts&Cs apply. 

The more you save, the higher the rate—up to 4.22% AER (variable) on balances over £1M. New Tide members receive these rates free for 6 months, then your Tide plan’s savings rate and thresholds apply. Visit ⁠https://tide.co/savings⁠ for full terms and conditions.

📈 Investment platforms we use:

Trading 212

Watch this video where Damo explains how to get the most from it:⁠⁠ https://youtu.be/BVVZhrM0LVQ⁠⁠

Get a free share worth up to £100 when you sign up for a new Invest or ISA account and deposit at least £1.

Use the code ‘MM’ or this link:⁠⁠ https://www.trading212.com/join/MM⁠⁠

InvestEngine 

Get up to a £50 bonus when you invest at least £100.

⁠⁠https://investengine.pxf.io/daOD2Q⁠⁠

Vanguard

Minimum investment of £500 or £100/month.

⁠⁠https://www.vanguardinvestor.co.uk/

–

If you purchase a product or service using one of the links above (including Martin's firm IDR Law), we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.

This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.

Do you think you're paid fairly? Yota Trom says you're probably not, but how do you get a pay rise? Yota's a career coach who's built a system that's already helped over 500 people climb the ladder - including taking one client from £35k to £150k in 2.5 years. Here's how you can do it too.

🤝Want help from Yota getting what you’re worth?

Apply for 1:1 coaching: https://www.yotatrom.com/mm-coaching

Join her accelerator (group coaching): https://www.yotatrom.com/mm-rise

Free workbook to figure out your real value: https://paywhatimworth.com/

📈 Get a free email summary so you can do what Yota suggested

https://makingmoney.email/yota-newsletter

😜 Do T a flavour and follow his Insta: @t_is_makingmoney

https://www.instagram.com/t_is_making_money/

⛑️ Free guides, courses and financial health check

Learn how to build long-term wealth in the UK: ⁠https://linktr.ee/makingmoneypod⁠

🎉 Sponsors

Odoo - test their Sign app for free: ⁠https://www.odoo.com/r/MM⁠

Vanta - Get your company secure and compliant, with $1k off: ⁠https://vanta.com/makingmoney⁠

Tide - Get up to 4.22% AER (variable) on your business savings. Use this link ⁠https://www.tide.co/offers/makingmoney⁠ or the code 'MAKINGMONEY'. You'll also get £100 if you fund your account with £5,000 in the first 30 days. Ts&Cs apply. 

The more you save, the higher the rate—up to 4.22% AER (variable) on balances over £1M. New Tide members receive these rates free for 6 months, then your Tide plan’s savings rate and thresholds apply. Visit ⁠https://tide.co/savings⁠ for full terms and conditions.

–

If you purchase a product or service using one of the links above (including Yota's company), we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.

This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.