January 31, 2023

Will I be able to afford to retire? How to plan for a financially secure retirement (even if it’s years away) - with Pete Matthew of Meaningful Money

48 minutes

Questions? Comments? Episode suggestions? Send us a text message!

#149 - Pete Matthew is a Chartered Financial Planner and the host of Meaningful Money. He explains the different types of pensions, the best places to put your money for retirement and how to build up a pension pot for when you’re ready to retire.

What you'll learn

[2:25] How the pandemic has changed the way people think about their finances.
[5:40] The two different types of pensions and how they differ from each other.
[9:19] Why defined benefit pensions are likely to be phased out.
[10:48] How the 2008 crash changed annuities and the idea of a ‘guaranteed income for life’.
[14:44] Whether state pensions in the UK have a future.
[17:22] The increase of gradual retirement and reducing your hours before retiring completely.
[22:37] How to know if you’re ready to retire.
[27:37] How much money you should spend when you first retire.
[31:25] How to figure out what you need to retire.
[35:25] Where to put your money for retirement.
[39:00] What to do if you haven’t started a pension yet.

Resources mentioned in this episode (some of these are affiliate links and we may get a commission in the event that you make a purchase - this helps us to cover our expenses and is at no additional cost to you):

Episode 27: Money matters: how to finance a career change – with Pete Matthew of Meaningful Money
Beyond the 4% Rule, Abraham Okusanya
Changing Gear, Jan Hall and Jon Stokes
Episode 82: What are you earning for anyway? The role of money and wealth in achieving life harmony - with Joseph Kuo of Abundance Wealth Planning

For the show notes for this episode, including a full transcript and links to all the resources mentioned, visit:

https://changeworklife.com/will-i-be-able-to-afford-to-retire-how-to-plan-for-a-financially-secure-retirement-even-if-its-years-away/

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By Jeremy Cline

2323 ratings

January 31, 2023

Will I be able to afford to retire? How to plan for a financially secure retirement (even if it’s years away) - with Pete Matthew of Meaningful Money

48 minutes

Questions? Comments? Episode suggestions? Send us a text message!

[2:25] How the pandemic has changed the way people think about their finances.
[5:40] The two different types of pensions and how they differ from each other.
[9:19] Why defined benefit pensions are likely to be phased out.
[10:48] How the 2008 crash changed annuities and the idea of a ‘guaranteed income for life’.
[14:44] Whether state pensions in the UK have a future.
[17:22] The increase of gradual retirement and reducing your hours before retiring completely.
[22:37] How to know if you’re ready to retire.
[27:37] How much money you should spend when you first retire.
[31:25] How to figure out what you need to retire.
[35:25] Where to put your money for retirement.
[39:00] What to do if you haven’t started a pension yet.

Episode 27: Money matters: how to finance a career change – with Pete Matthew of Meaningful Money
Beyond the 4% Rule, Abraham Okusanya
Changing Gear, Jan Hall and Jon Stokes
Episode 82: What are you earning for anyway? The role of money and wealth in achieving life harmony - with Joseph Kuo of Abundance Wealth Planning