In this conversation, Russ and Tom discuss the often-taboo subject of money, emphasising the importance of open dialogue about financial matters.

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They explore the complex relationship between money and happiness, the pitfalls of lifestyle inflation, and the necessity of planning for the future, especially for tradespeople. Tom shares his journey from banking to financial advising, highlighting the unique financial challenges faced by self-employed individuals. The discussion culminates in practical advice for tradespeople on managing their finances and planning for retirement, underscoring that it's never too late to start investing in one's future.

In this conversation, Tom delves into the intricacies of pensions, emphasising their importance as a savings account for retirement. He explains the tax benefits associated with pension contributions and the necessity of viewing pensions as part of overall financial planning. The discussion transitions into the significance of early contributions and the impact of compound growth over time. Tom also addresses concerns about market fluctuations and inflation, providing insights into investment strategies.

Finally, the conversation explores alternative investments, particularly in property, and the challenges associated with them in the current economic climate. In this conversation, we explore the evolving landscape of property investment, the advantages of pensions and equities, and the complexities of cryptocurrency. The discussion emphasizes the importance of diversifying investments and protecting one's income, especially for those in the construction industry. The conversation concludes with a call to action for individuals to seek financial advice and engage in discussions about money to improve their financial well-being.

Thank you to our guest Merch sponsors

The Funky Peach