Tony Talks Wealth Podcast

Welcome to the 100th episode of Tony Talks Wealth! Listen to Tony talk to wealth experts from many of his recently published podcasts and share their wisdom on the question that Tony asks all his guests ; What does wealth mean to you? 
Sign Up Now For These Exclusive Podcasts and MORE Tony Talks Wealth Content at https://www.patreon.com/TTWealth  

GUESTS

• Steve Conley
• Bev Jones
• Kristina Wise
• Fanny Snaith
• Angel Ribo
• Jim Meulhhausen
• Rick Heyland
• Joseph Wilkins
• Dr Clemen Chiangmai
• EA Csolkovits

BEST MOMENTS
‘The three kinds of wealth, financial wealth, health, and social wealth. Entrepreneurs are terrible about two of those three! They are! They work too much, they don’t have work-life balance.’
‘Work hard is the secret ingredient that surpasses everything from your I.Q. to your E.Q. to your family background if you are willing to work hard.’ 
‘It’s balanced and successful in all areas of my life and focusing on the most important things, whether it be spiritual, my health and fitness, my relationships or my work and finances. Those are the four buckets that I generally think about.’ 
‘I am a multi-millionaire when it comes to my life. Really, I am. When it comes to the most amazing family, the most amazing friends. I’m so fortunate that I’ve got good health, and my family has got good health.
VALUABLE RESOURCES
Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  
Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  
ABOUT THE HOST
Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  
“Live For Today, Invest For Tomorrow”
CONTACT METHOD
Tony’s official website: https://ttwealth.co.uk/
Facebook: https://www.facebook.com/TonyThomas.IFA/
LinkedIn: https://www.linkedin.com/in/tonythomas2/

This show was brought to you by Progressive Media

Hosted on Acast. See acast.com/privacy for more information.

Individual Savings Accounts (ISA) are a great way of saving and minimising the amount of tax you have to pay on your investment returns. Tony talks about the different kinds, how they work and how they can benefit you and your Investment Plan.
KEY TAKEAWAYS

• Some ISA’s give you instant access to your money and can be used to plan your finances in the short term. You can also invest in an ISA for the future.
• If you are a UK resident over the age of 18 you can open up one of each kind of ISA over the tax year. Cash ISAs do not invest in the stock market and the investment relies on interest rates. It can act as an emergency access fund for expenses.
• Stocks and Shares ISAs is a tax efficient investment that allows you to invest your money in shares, government bonds or property with the assurance that you won't pay any capital gains tax or income tax on the proceeds. 
• The Innovative Finance ISA. It allows you to lend money through peer to peer lending platforms to allow you to receive tax free interest and capital gains.

BEST MOMENTS
‘In the current tax year 2022/23 you can put £20,000 into your tax efficient ISA before the end of the financial year on the 5th April.’
‘The main factors to consider when choosing between a cash ISA and a stocks and shares ISA are the length of time you’ll be saving or investing.’ 
‘Peer to peer lending is a higher risk form of investing and your capital is completely at risk as there is no protection from the Financial Services Compensation Scheme.’ 
VALUABLE RESOURCES
Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  
Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  
ABOUT THE HOST
Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  
“Live For Today, Invest For Tomorrow”
CONTACT
Tony’s official website: https://ttwealth.co.uk/
Facebook: https://www.facebook.com/TonyThomas.IFA/
LinkedIn: https://www.linkedin.com/in/tonythomas2/

This show was brought to you by Progressive Media

Hosted on Acast. See acast.com/privacy for more information.

Risk tolerance is one of the biggest factors in your investment decision process. Tony talks about how to decide how much risk to take depending on your circumstances, goals and individual comfort level when it comes to risk.
KEY TAKEAWAYS

• Consider how you would feel if your investments lost money in the short term. If this makes you anxious, you may be significantly risk averse. If you are comfortable with this circumstance, however, you may be able to take on more risk.
• Understanding if you are comfortable with volatility or stability and slower growth will help you decide which investments to make and over what time period.
• There is no such thing as a no risk investment but manage it by diversifying over the long term.

BEST MOMENTS
‘Your potential returns available from different kinds of investment and the risk involved change over time as a result of economic, political and regulatory developments.’
‘Volatility is a measure of how much prices fluctuate over time. Investments that are more volatile have bigger ups and downs in value, while less volatile investments will have slower steadier price increases.’
‘An interest rate risk is a particular risk for bond holders. We all have our own individual risk tolerance, and it's important to establish what that is.’
VALUABLE RESOURCES
Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  
Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  
ABOUT THE HOST
Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales. 
“Live For Today, Invest For Tomorrow”
CONTACT
Tony’s official website: https://ttwealth.co.uk/
Facebook: https://www.facebook.com/TonyThomas.IFA/
LinkedIn: https://www.linkedin.com/in/tonythomas2/

This show was brought to you by Progressive Media

Hosted on Acast. See acast.com/privacy for more information.

Investing can be a very complicated and confusing process, especially for those who are new to it. There are so many options and strategies out there and it can be difficult to know where to start. Having a clear understanding of what you are hoping to achieve and your current finances is essential before you start to decide how you are to move forward toward your goal. Tony talks about how you can achieve this.

KEY TAKEAWAYS

• Cash Flow Modelling (CFM) is a powerful tool that can help you take control of your finances and move toward your investment objectives.
• With CFM you can clearly understand your financial situation, identify any areas where you may be overspending, discover opportunities to save, make more informed decisions about investments and set realistic goals.
• CFM provides a detailed picture of your investments, debts, income and expenditure.
• This system creates different scenarios based on future decisions you may make and illustrates the effect they will have on your finances.
• You will need periodic checks to ensure that your plan is on track and make any necessary alterations.

BEST MOMENTS

‘By creating a model of your income and expenditure you can see exactly where your money is going and make informed decisions on how best to manage your resources.’

‘The process shows your current position relative to your preferred position and your goals by assessing your current and forecast wealth along with income inflows and expenditure outflow.’

‘A snapshot in time is taken of your finances with calculated rates of growth, income, tax and so on.’

VALUABLE RESOURCES

Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  

Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  

ABOUT THE HOST

Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, and Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  

“Live For Today, Invest For Tomorrow”

CONTACT

Tony’s official website: https://ttwealth.co.uk/

Facebook: https://www.facebook.com/TonyThomas.IFA/

LinkedIn

This show was brought to you by Progressive Media

Hosted on Acast. See acast.com/privacy for more information.

Goals based investing is a great way to make wise financial decisions when you are overwhelmed by the choice in investment options. Tony talks about how to navigate the myriad of investment products available today by clarifying what you are really aiming for in the future.
KEY TAKEAWAYS

• A variety of financial goals such as retirement, home purchases or saving for a child’s education can be specified specifically to make choices on investments.
• Focus on the long term. You are less likely to make impulsive, short term decisions.
• Have a disciplined approach to investing to avoid spoiling your progress with spending sprees and costs.
• When you have a concrete set goal you have increased motivation. Set yourself realistic goals. 

BEST MOMENTS
‘Goals should be clear, concise, detailed and written down because, remember, unwritten goals are just wishes.’
‘In order to achieve all of your goals you will need a plan. Starting from assets you already have available, you will need to determine how much more you will need to accumulate and when you will require it.’
‘Decide what you want to achieve. This may seem obvious but it is important to take the time to really think about your goals.’ 
‘Give yourself realistic deadlines.’ 
VALUABLE RESOURCES
Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  
Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  
ABOUT THE HOST
Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  
“Live For Today, Invest For Tomorrow”
CONTACT
Tony’s official website: https://ttwealth.co.uk/
Facebook: https://www.facebook.com/TonyThomas.IFA/
LinkedIn: https://www.linkedin.com/in/tonythomas2/

This show was brought to you by Progressive Media

Hosted on Acast. See acast.com/privacy for more information.

Tony talks about how to make the most of your pension pot so you can get back to dreaming about your retirement and not dreading it. Many people are feeling financial pressure at the moment, and it can be difficult to consider the future, but even with current conditions there are ways you can maximise your pension opportunities. 

KEY TAKEAWAYS

• When offered the opportunity to join a workplace pension it is always a good idea to do so due to the contributions they make. 
• You also get extra money from the government in your tax payments on any contributions you make. 
• The state pension will not cover everything. 
• Keep on track of all your pension plans. It is important to have a retirement lifestyle in mind so you have an idea of how much money you will require. 

BEST MOMENTS

‘Your employer's contribution on top of that which at the very least must be equivalent to three percent of your earnings.’ 

‘Each time you defer paying into a pension plan you miss out on the extra boost of tax relief from the government.’ 

‘It’s important to remember that the state pension won’t be available until your late sixties.’ 

VALUABLE RESOURCES

Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  

Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  

ABOUT THE HOST

Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  

“Live For Today, Invest For Tomorrow”

CONTACT

Tony’s official website: https://ttwealth.co.uk/

Facebook: https://www.facebook.com/TonyThomas.IFA/

LinkedIn: https://www.linkedin.com/in/tonythomas2/

This show was brought to you by Progressive Media

Hosted on Acast. See acast.com/privacy for more information.

The key to a robust retirement is having a good idea of the plans that you have for when you reach your chosen age. To keep up your lifestyle in your golden years you need to be sure of your pension and financial situation. Tony talks about what you need to know when working on your future.

KEY TAKEAWAYS

• Retain a professional Financial Advisor to achieve the retirement that you want.
• Currently only half of those with assets over £100,000 to £500,000 excluding property are planning to take professional financial advice.

BEST MOMENTS

‘With so much going on in your life, from family and work, to pursuing your passion, retirement planning may not have been your priority, but now you want to make sure your pension and overall financial situation will allow you to keep up your current lifestyle and enjoy your golden years.’

‘Only 39% of pension holders are planning on taking financial advice when they retire, with 31% planning a do-it-yourself retirement.’

‘These are just a few of the questions your professional Financial Advisor will be able to help you with.’

VALUABLE RESOURCES

Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  

Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  

ABOUT THE HOST

Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  

“Live For Today, Invest For Tomorrow”

CONTACT

Tony’s official website: https://ttwealth.co.uk/

Facebook: https://www.facebook.com/TonyThomas.IFA/

LinkedIn: https://www.linkedin.com/in/tonythomas2/

This show was brought to you by Progressive Media

Hosted on Acast. See acast.com/privacy for more information.

Tony talks about the erosion that occurs in your savings with the current inflation rates and how you can benefit from tax relief in the coming year.

KEY TAKEAWAYS

• Tax efficiency is a key consideration when investing because it can make such an enormous difference to your wealth and quality of life.
• One way to avoid tax is to contribute to an individual savings account (ISA) and take advantage of up to £20,000 tax free with a stocks and shares ISA.
• A cash ISA allows you to earn interest on your savings without having to pay any tax on interest earned.
• Junior ISA are for those under 18 without a trust fund account. Up to £9000 can be put in a Junior ISA and can be used for a wide range of purposes such as education or training costs.

BEST MOMENTS

‘The type of investment and tax efficiency that you should be looking at will depend firstly on whether your priority is to save a lump sum for the future or to draw an income today.’ 

‘Not only will your investment grow tax efficiently, you’ll also benefit from the potential for capital gains.

‘Another option is a Lifetime ISA or LISA. If you are looking to save for retirement or to buy your first home you may also want to consider opening a LISA. With a LISA you can save up to £4000 in the current tax year. The government will add out to 25% to any savings held in a LISA up to a maximum of £1000 a year.’ 

‘If you earn over £100,000 making personal pension contributions can be highly advantageous.’

VALUABLE RESOURCES

Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  

Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  

ABOUT THE HOST

Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  

“Live For Today, Invest For Tomorrow”

CONTACT

Tony’s official website: https://ttwealth.co.uk/

Facebook: https://www.facebook.com/TonyThomas.IFA/

LinkedIn: https://www.linkedin.com/in/tonythomas2/

This show was brought to you by Progressive Media

Hosted on Acast. See acast.com/privacy for more information.

In this episode Tony talks about the difference between individuals' personal plans towards retirement and some of the extra challenges previous generations of savers never had to worry about.

KEY TAKEAWAYS

• Life expectancy is longer than ever before which means you need your money to last much longer. 
• More companies are moving away from Defined Benefit Pensions which guarantee you a certain amount of money in your retirement. Defined Contribution Plans are much more subject to the ups and downs of the market.
• A mixture of various investments further individualises many peoples approach to retirement planning.
• Six tips to consider using if you have a Money purchase Pension or Defined Contribution Pension are ; use pay rises as an excuse to pay more. Pay in more when a regular spend ends. Maximise any possible employer contributions. Invest any lump sums you receive. Put off breaking into your pension pot. Be cautious about your investment choices.

BEST MOMENTS

‘One question I get asked every single day is how much money will I actually need when I eventually retire?’ 

‘Some people are unprepared for retirement due to high debt levels at the end of their working lives, or because they were not saving enough during their lifetime.’

‘Being aware of the options available to you can help you prepare for your future in an effective way.’

VALUABLE RESOURCES

Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  

Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  

ABOUT THE HOST

Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  

“Live For Today, Invest For Tomorrow”

CONTACT

Tony’s official website: https://ttwealth.co.uk/

Facebook: https://www.facebook.com/TonyThomas.IFA/

LinkedIn: https://www.linkedin.com/in/tonythomas2/

This show was brought to you by Progressive Media

Hosted on Acast. See acast.com/privacy for more information.

Tony talks about the requirements of withdrawing your pension and the five things you need to carefully consider before doing so. Currently you can access your pension from the age of 55, changing soon to 57 unless you have a protected pension age, so if you are approaching these birthdays it's worth checking out Tony’s advice.

KEY TAKEAWAYS

• Pension Freedoms. Consider your pensions accessibility arrangements.
• Savings Requirements. How much will you need each month to maintain your lifestyle?
• Future costs. You need to consider care needs and inheritance planning.
• Health and Life Expectancy of both you and your partner. 
• Obtain professional advice to make sense of the complications of the financial decisions of retirement. 

BEST MOMENTS

‘There’s a lot to think about when you withdraw money from your pensions because it’s a huge decision as it has major implications on how long that money lasts for throughout your retirement.’

‘We often vastly underestimated this but evidence shows that we are mostly living longer.’

‘How long will I need my money to last? How long do I want to keep working? How much tax might I pay?’  

VALUABLE RESOURCES

Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  

Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  

ABOUT THE HOST

Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  

“Live For Today, Invest For Tomorrow”

CONTACT

Tony’s official website: https://ttwealth.co.uk/

Facebook: https://www.facebook.com/TonyThomas.IFA/

LinkedIn: https://www.linkedin.com/in/tonythomas2/

This show was brought to you by Progressive Media

Hosted on Acast. See acast.com/privacy for more information.