August 23, 2023 • 27 mins
Ready to unravel the enigma of corporate giants and their colossal market values? Get ready to unravel the mystery as we look at gatekeepers like McDonald's, Amazon, and Apple, and their unfathomable financial worth. We dissect their massive market values and take a peek at the whopping paychecks of their CEOs. And it's not all about the Benjamins as we transition into the fitness realm and dissect the ups and downs of bodyweight exercises.
Ever wondered about the ripple effects of those 'easy' online returns on businesses? Or curious about the evolution of fuel products and the true value of your favorite Ready-To-Drink beverage? As we navigate the labyrinth of cash flow and returns, we also dive into the murky waters of pension complaints. And as we close out, we tackle the ever-present challenge of maintaining a healthy diet while on vacation. From the irresistible allure of buffets to the bitter reality of going up a clothing size, we explore it all. Prepare to be enlightened and possibly entertained as we journey through finance, fitness, and everything in between.
Free budgeting spreadsheet below.
Stay well, stay motivated and most of all stay educated.
https://www.sanfp.co.uk/
Recording Equipment
📘 Our Book
🎙 Podfollow
❓ Also want to see how you'd score on our mortgage preparedness questionnaire click here
🏠 The mortgage Course
📰 Budgeting Spreadsheet
I hope you guys enjoy this podcast and find it helpful. If you love this podcast, please be sure to check out our videos on our youtube channel. Please make sure to like and subscribe to our channel for more videos and ring the notification bell 🔔 so you can be notified of all future content. Don’t forget to share with your friends and family. I would love to hear your opinions, so comment down below. Thank you for watching.
👉Subscribe Here
Suggested Videos:
✅ Work Place Pension:
Link: https://youtu.be/ojizsp5YfuQ
✅ Priorities, Pension Or Amazon:
Link: https://youtu.be/07muaDOcBW8
✅ The Importance Of Pensions:
...
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome.
This is going to be my lastpodcast.
Well, for two weeks I'm goingto be away.
So today we're going to chatabout the valuable companies of
the world, the FTSE chiefs andtheir massive pay rises, hul
pension complaints and, lastly,how Rishi is going to manage to
(00:21):
pay the state pension when thebig kick kicks in again next
April.
So sit back, grab some drinksand relax.
I feel my age today.
(00:43):
I've been doing, you know, I'mdoing my, my, my exercise, and
I've been doing a lot of thisbody weight.
I think I'm fitter than I wasat 25.
Now I'm 45.
Um geez, the inside workings.
They just feel all sore.
Speaker 2 (00:58):
Do you actually generally think you're fitter
than you were at 25?
Speaker 1 (01:00):
Yeah, yeah, I don't think I'd be able to run faster,
because I'm not on the minute.
Naturally, I think there'sabout two people in the world
that don't know that I had anAchilles injury a few years ago.
Speaker 2 (01:10):
Um, the seven days.
But I do think past episodes,so full of that yeah.
Speaker 1 (01:16):
I do think I'm more, more, I'm more physically fitter
, but I don't think I've is thatmore than cause.
Speaker 2 (01:22):
like you're, you're an average gym goer.
I do seven days a week Five.
You train the weekends, don'tyou?
Yeah, but in my shed.
So my shed so exercise sevendays a week.
Speaker 1 (01:32):
Yeah, yeah, I can.
Speaker 2 (01:34):
Uh, get your body moving.
So since you've changed changedinto a body weight routine,
does that mean you've beenfitter than the stuff you were
doing before that, Like thechest and biceps workout you
were doing.
You'll be each weight.
So yeah, yeah, yeah.
Speaker 1 (01:50):
Do you know what I do think?
So, because I think it it makesyou get overall fit everywhere
else Bloody horrible.
Do you know it?
Just when you look at whatpotentially you're gonna, if you
find a session to do and you go, how the hell are you going to
get through that?
But you do.
But I do think it's.
It's exactly like you say ifyou go into the gym without a
(02:11):
plan, it's a bit like what we doin the world of money.
Speaker 2 (02:13):
You're following a program, then yeah.
Speaker 1 (02:14):
And if you go into there and you don't have a plan,
the first thing he goes what'sfree and most men will go for
something that's free weightsand most women I know
generalizing it is going over toto to push something up and
it's a natural way ofgeneralization.
Yeah, I've going over and justgetting the free weights and
lifting, you know, and tricepsand chest and all that Chest and
(02:37):
biceps and get away from all ofthat.
So yeah, I do think I fit,although I think I need three
and one oil in all the jointsbecause they all feel sore at
the moment.
But that's because I wascarrying more weight, you see,
and you're pushing heavierweight.
It's a kind of contradictionbecause you're pushing heavier
weights when you, when you startthese body weight exercises and
technically, as you go on,you're pushing less weight
(02:58):
because you're potentiallygetting fitter.
Speaker 2 (03:01):
But I don't think you're pushing less weight
because you're transferring moremuscle, which is heavier than
fat, isn't it?
I think this is not that you'llfind.
I still think there's a bit offat there Still.
Speaker 1 (03:09):
anyways, talking about fat right, 50 are the most
valuable companies in the worldin 2023.
You know I like to go intothese things.
Well, 50 are we?
God?
No, I know.
Market cap McDonald's right isvalued at $208 billion.
(03:31):
And there's.
You know how far do you have todrive or walk to see another
McDonald's?
Speaker 2 (03:38):
They are literally everywhere, aren't they?
Speaker 1 (03:40):
They're even in Russia.
I don't need to serve themanymore, but they are.
They are all over the worldLike you kind of.
Speaker 2 (03:46):
you generally see the golden arches wherever you go.
Speaker 1 (03:50):
Or smell them from a bit further away.
Speaker 2 (03:52):
Airports.
Speaker 1 (03:54):
Are they airports.
Speaker 2 (03:55):
I think they are Um service stations.
Speaker 1 (03:58):
Yeah.
Speaker 2 (03:59):
They're all major cities, towns, and I'm just
thinking like I think inConfidia Lone we got potentially
three of we.
Speaker 1 (04:07):
I'd say there's at least 45,000 within the UK alone
.
I could be totally wrong withthe numbers.
But you know in every smallvillage, and you multiply that
by all of the countries you knowin America, then the bigger,
bigger countries in China, thatthere must be tens of thousands.
I'll tell you now.
Speaker 2 (04:27):
So as of July 2023, there was 1396 McDonald's
restaurants in the UK.
Speaker 1 (04:32):
Is that all?
Speaker 2 (04:33):
Yeah, the location of the UK is the country with the
most number of McDonald'slocation in the UK is England,
with 1182.
Yeah, which is 85% of allMcDonald's restaurants in the UK
.
Wow.
Speaker 1 (04:48):
I thought there'd be more than that.
Fair enough, maybe we just havebeen to a lot of them.
Speaker 2 (04:53):
That's not a lot of mine, I thought there was more
to do.
Speaker 1 (04:56):
Well, if you consider between, you know where we are
recording this now you could,within 15 minutes, you could end
up in 10, 12 of them.
So you know the geography ofthe UK being a lot bigger.
Yeah, I was expecting a biggernumber, but it is what it is.
But it was just interesting.
Market cap $208 billion, andyou know they're everywhere
(05:19):
Amazon.
Speaker 2 (05:19):
So that's the market values yeah, the the company
yeah, for now and future worth.
Speaker 1 (05:27):
Amazon, so McDonald's that we see everywhere.
208 billion dollars Amazon 208billion, billion.
Yeah, so it's not a smallnumber Amazon 1.4 trillion.
Well and then you go Apple 2.8trillion dollars, Just mind
(05:50):
blowing.
You know McDonald's is this bigand you're just trying kind of
put in the share value.
Yeah, it's huge, it'sabsolutely huge.
And these boys get paid.
Well, you know, I'm runningthem.
Speaker 2 (06:00):
But, like I guess, if you look at Apple, the market
is full of Apple products, isn'tit?
Yes, yeah more than 1300locations?
I don't think.
Speaker 1 (06:10):
Apple will be listening to this.
It's a great way If you're intown.
We went into Cardiff last week,we last weekend me and the
little man and we were in therea few weeks ago and he went.
We go to the Apple shop, so yougo into the Apple shop and just
go, just have a little browseright, free games in there half
an hour 45 minutes we can playon the yeah, don't tell anyone,
(06:32):
though that's.
That's a little bit of a gift toeveryone there now.
Yeah, go in play the computergames, say nothing because
you're not loading Smith'sanymore.
Speaker 2 (06:43):
Scooty card Scooty card's fed up.
A following around.
Speaker 1 (06:46):
You know you don't have to buy anything in there.
No, apple have a lot of mymoney with a lot of products.
So I'm you know I do like them.
But you can go in and you cantest the the games, but it was
in the zone I playing three ofthem at once.
Speaker 2 (06:58):
Yeah, I was busy the Apple stores.
Yeah, people just browsing whatthey actually know they are.
Speaker 1 (07:03):
They're all always buying and then when you see
them guys are good at sellingand they're upselling, you know.
Tell them how rubbish the stuff, the stuff that they have, is.
It's great at Apple, but I'venever been bothered with the
whole.
Speaker 2 (07:13):
You want a new phone.
When a new phone comes out, Igenerally go two generations
below because I know it's gonnabe cheaper by the brand new up
to date.
When yours is about sevengenerations below in there,
don't think they even make yours.
Speaker 1 (07:25):
They don't, and, and I only Can't I only?
Want to change mine becauseit's nice and small.
I don't want the big ones andI'm gonna have to change
eventually at some stage, but sobe it.
Yours is like the firstgeneration.
Mine is fine.
It does what I needed to do aparty and the anything that
isn't great.
I was taking calls.
Speaker 2 (07:44):
So brilliant calculate, actually the
calculate hands then it'sshocking.
Speaker 1 (07:49):
I was gonna say something else.
Do you know, talking aboutcompanies and all that they I
read the other day the top thefutsy 100?
Ceos know that pay rises theygive themselves the back at.
Oh wow.
Well, you know, we hear and wewe disagree with it that does
this cost of living crisis.
These guys are living.
Guys and ladies are living on adifferent planet.
(08:10):
Average Pay rise for themselves.
I'd love to know how to get itsorted.
500,000 pounds average pay rise.
Speaker 2 (08:20):
Well, it's the board that decide.
Shame on your board's.
The executive board decide whatthe pay rise is gonna be, isn't
it?
Speaker 1 (08:26):
The guy and runs AstraZeneca.
I can't even pronounce his name, sir Pascal, I'm not even gonna
try there, cuz I get somebodybrave me 15.32 million pounds
pay.
Now I know that might be madeup of shares and future shares.
I don't care how it's made up,it's still.
That's the package.
Speaker 2 (08:44):
That's 15 million.
This is salary.
Speaker 1 (08:46):
Well, maybe not salary, maybe made up of your
face.
Yeah, you know, 1.2 million,1.4 million a month.
Speaker 2 (08:55):
I know I could be.
Speaker 1 (08:57):
I didn't get his pay rise, but the average was 500k
over across the board.
Speaker 2 (09:02):
Probably gonna have 10%, isn't he 1.5 million?
Speaker 1 (09:06):
hmm, nice, I'm nice little number.
Speaker 2 (09:09):
Wow.
Speaker 1 (09:10):
They, they said from world in a different world.
They don't need to worry aboutthe price of gas going up.
Speaker 2 (09:16):
They don't need to worry relative, though, isn't it
, because I can't imagine helives in a two up, two down kind
of terraced house and drivesaround in a tester three.
He probably has a free to carsholiday homes.
So unless he's like an avidsaver, he probably spends all
(09:37):
that.
Speaker 1 (09:37):
Could well do.
Speaker 2 (09:38):
I know there's a point where I think sometimes
you can't spend it all kind ofdiscreet sometimes, but he's
probably living to thatlifestyle.
Speaker 1 (09:48):
That's a good lifestyle.
There's a good life cost in it.
Speaker 2 (09:51):
Yeah, well, he could be.
He could be hiring a yacht forthe weekend, which might cost
him the best part of a quarter amillion for a weekend, because
that's generally what I cost Ithink a year or two ago I might
have we look to do that yeah.
Speaker 1 (10:06):
Um Footballers.
I don't know why I have thelikes of Messi and Ronaldo in my
brain, that they rented a yachtor something, city like that,
or two footballers that kneweach other, and it was a crazy
price for a week.
Speaker 2 (10:18):
Yeah, yeah, crazy about a million for a week.
Speaker 1 (10:20):
Probably Some of these big yachts, you, which I
kind of rented out, the bigsuper yachts, somebody wrote in
the paper last week that thebetter way to get richer Isn't
more hard work, it is smarterwork.
So you know, when you'retalking about that guy from
AstraZeneca, that I think that'sa lot of bull, that statement.
Because how rich is rich?
(10:42):
You know, if you don't knowwhat makes you happy or what you
like, you're not gonna know howmuch it costs.
So you don't know how muchmoney you need.
So you don't know how hard hardto work, as in more hours now I
know it's not just about thehours but if you know what makes
you happy, you can actuallystructure your life Better, and
we talk about that all the time.
Speaker 2 (11:01):
So I think that's the biggest problem with people,
isn't it at the moment Is thatpeople don't know what make them
happy.
Yeah, people perceive, orsocial media tells them should
make them happy.
Yeah, but isn't what reallymakes them happy?
Yeah?
Speaker 1 (11:14):
they're constantly following the Joneses and and
trying to buy happiness throughAmazon or through Some websites.
Speaker 2 (11:21):
It's the dopamine effect isn't it and that, and
that's the danger, where you canbe fricking through a social
media and selling pops of night,then it you look, you look and
go oh, wow, that is brilliant.
Actually, all I'm beingTargeted or marketing wise the
moment is CRM systems, becausewe've been looking at a new CRM
systems.
That's all I get targeted onsocial media at the moment, but
(11:42):
it has made me click on them andgo actually, that's a good one.
So now we end up with endlessdemos of different CRM softwares
, but that's a little bit kindof different.
But if you're constantlyLooking at clothing, shoes, bags
, cars, you're gonna beretargeted those things, yeah,
and it's then gonna make you, IGuess, kind of think you want it
(12:03):
, but actually do you reallyknow why you want that?
Is I actually gonna make youany happier by having that
product?
They don't get me wrong, itmight well too.
Speaker 1 (12:09):
Well, will they ping you the email in a few weeks
time.
Gone watch, you've looked at usnow 6% less in cost.
We thought you'd you'd like toknow, and then you know some of
them will like, so some of themhave.
Speaker 2 (12:21):
You know great systems.
They retarget you with adverts.
Your we used to do and we areclothing brands.
You know the retargeting wasbrilliant.
You'd have different kind of adsets which would have discount
codes on them which would drivepeople in.
They worked.
Speaker 1 (12:32):
I know you've got.
If people could see this nowwhat I'm gonna say to you just
gonna roll your eyes Because I'mgonna win holidays next week.
I got a code for some clothingcompany and I ordered the other
day.
I got a 10% discount.
Speaker 2 (12:47):
I got this goes back on YouTube.
I got rolling my eye, got eightitems Okay you're like a reed
your online retails.
Speaker 1 (12:54):
Night me I repacked the the bag last night so I just
got a drop it off to an everynow cuz I'm how many you
actually taking of those itemsof the eight?
Zero.
Speaker 2 (13:07):
So it's an interesting fact.
Okay, so when we ran theclothing brand which we had, we
Back oh go, quite a few yearsago, we were, we were looking
for investors and we sat downwith one of the investors and
they were telling us about whatsort of markets we could break
into and how soon markets work.
They actually talked about theGerman market.
(13:28):
So German mark only comes on aretail and somebody's probably
gonna correct me on this, right,but this is what I was told by
someone who was very senior in alarge clothing brand, actually
had been at non-exec level InGermany they will order.
So if you're 34 inch waist,deliver order of 32 a 34, 36
(13:50):
inch short, medium and long leg,right, okay, because they'll
want to check is the right sizefor them, and then they'll send
it back.
So it's expected Also, then,that the return is free, and if
they don't, they probably won'tbuy from you.
So it's an interesting market.
So that was one of theconversations when, if you want
(14:11):
to push into that type of market, we've got to be mindful it's
going to cost us a lot of money.
So we've really got to decidewhether we want to or not.
Speaker 1 (14:17):
So the cash flow of selling six items at 30 quid a
pop is 100, and 80 quid.
Will they all come back.
It's going to cost you 15 quidto post out, because we do, and
10 quid to come back.
Speaker 2 (14:28):
We used to have free returns.
You go on the website.
It was linked to Royal Mail.
You'd put in your parcel number, hit it and it'd print your
return label.
Now that would cost us then, sowe would get charged.
Now we didn't get a huge amountof returns, but when you used
to get it, sometimes you'd sendit.
You might send out a packagewhich might have cost you 10
quid to send out and that wasincluded because it was free
(14:49):
post and packaging over acertain value.
We come back.
So it could cost us 20 quid andwe never made a sale.
Plus, on top of that it's stafftime to pack the items.
It was also the advert whichmight have brought them in, so
that might have cost you 30 quid.
Speaker 1 (15:04):
You just lost that yeah.
Speaker 2 (15:06):
Yeah, so, yeah, so it's kind of, but that's going a
little bit off tangent.
But if it's there to do, at theend of the day you've bought
these things because you want totry them.
Speaker 1 (15:15):
It's no different.
God knows why you sent them allback mind.
To me, I know it's no differentthan going into town, paying a
five at a park, up and trying onthings and going.
No, I don't feel that I have aduty to go Because I've ordered
them online.
I have to hold one of them.
I didn't want any of them, infact, I don't know why.
Speaker 2 (15:32):
I ordered two of them .
Why did you order them?
Speaker 1 (15:35):
In fact two of the items I just looked like last
night.
I went I don't even know why Iordered this and I didn't even
unpack them, I just went.
They're going to straight back.
Anyway, never mind about goingback Outside there, that will
never go back.
There's two containers or twoboxes of fuel.
Speaker 2 (15:50):
Do you see the numbers in them?
Speaker 1 (15:51):
Yeah, fuel, they're flying at the moment.
They've never been rewarded forthat.
Do you remember the originalfuel?
Which one was?
The one that was sand?
Do you remember the one thatwas absolutely horrible?
Speaker 2 (16:02):
Strawberry with strawberry and cream.
One.
Speaker 1 (16:04):
No, the strawberry and cream one was okay, the
berry one.
Speaker 2 (16:06):
Yeah, that was very nice.
The berry one was really kindof watery, wasn't it?
Speaker 1 (16:10):
It was.
Speaker 2 (16:10):
It was really good.
It was my go-to is chocolateand salty caramel.
I guess they'll go withstrawberry and cream one, but
they seem to be.
Speaker 1 (16:18):
Have they thickened that up, though?
I haven't got one in a while.
Speaker 2 (16:21):
I didn't know.
It was on the shelves in StPetersburg.
Speaker 1 (16:23):
Yeah, not cheap, but they're adapting, a bit like the
iOS and Apple.
When you look back and you seethe original first version that
crappy, sandy one they're justevolving and evolving Because I
saw the last day they're lookingfor yeah, feed back in there.
They sold.
They're even tasters, yeahimagine 300 million meals they
sold in the year to July 2022.
Speaker 2 (16:44):
Well, I hope they've improved those.
Speaker 1 (16:46):
Well, I presume the meals include oh, I presume it's
included, all of them, you know?
In other words, you had hotwater too.
Yeah, they're horrible.
They're like a pond noodle.
Speaker 2 (16:53):
Yeah, yeah yeah, horrible is a bit strong.
Speaker 1 (16:56):
An understatement.
Speaker 2 (16:58):
Yeah, they weren't the best.
Speaker 1 (16:59):
They were brutal.
Speaker 2 (17:00):
I tried them all as well.
Speaker 1 (17:02):
Yeah, yeah, but they never give you that samples, do
they?
They're just gonna you buy themor you don't buy them.
It is what it is.
Speaker 2 (17:09):
Yeah, like so that the RTT, as they call them,
ready to drink.
We'll see what that's supposedto answer.
They're really, really good.
The bars they do are not thatgood.
They're brutal.
Carbord they make.
They do yourself far too sweet,I find, but the rate of drinks
(17:31):
they're superb.
Yeah, I'd say my goal that'sperfect for what I have for
breakfast 400 calories, nogluten, no dairy, vegan,
friendly for our vegan followersout there.
It's, yeah, he, nutriciouslygood value.
People probably argue, the fullof sugar and stuff.
But hey, oh, you know me, Iprobably could put worse in my
(17:54):
body, could go around to cars,burgers and sticker sausage and
Wrong with that, but I ain'tgonna be good for me, is it?
Speaker 1 (18:04):
do you know what is there value to 440 million and
considering they're not goingthat?
Speaker 2 (18:08):
long Wow, and and we're talking about a billion-
values we're talking earlier onabout the.
Speaker 1 (18:14):
McDonald's at 2.208 billion.
I know it's a fact, but they'regoing what?
30, 40 years?
440 million in a couple ofyears time?
Speaker 2 (18:23):
Yeah, I don't know because we go since the 70s, no
idea.
Speaker 1 (18:27):
There's something on Netflix about McDonald's the
founder.
Yeah, you know, seen thatbefore.
No, no.
Speaker 2 (18:32):
It's been a view that is a brilliant for watch it.
Speaker 1 (18:34):
No, I've been.
I've been too busy on genuinelywatch it.
You like that the MarkCavendish, the Tour de France.
Speaker 2 (18:42):
I'm better than all of those, lance.
Speaker 1 (18:43):
Armstrong's film.
No, I'll get to it eventually.
Eventually.
Too busy, too busy in the gym,pension complaints, right crap
servicing levels and a lot ofyou caveat this first and a lot
of people being unable to accesstheir pensions.
Speaker 2 (19:05):
So this is the providers we're talking about.
Speaker 1 (19:07):
Yes, Complaints to Foss, the albus man only from
advices from advice and I'veread this directly to Foss from
People seeing that there's theservice levels of certain
companies and trying to getaccess to their pension when the
date comes, either through theage or a death benefit and stuff
(19:31):
like that.
Three of the, the top culprits,don't mind saying them Scottish
widows, reassure and Phoenix.
Speaker 2 (19:42):
Just was trying to deal direct.
Speaker 1 (19:43):
Yeah, and if I know, we talk about.
Speaker 2 (19:47):
Yeah, because they remain sure about I understand
with Phoenix and reassurebecause all they read I was
consolidating design.
They did not really pensioncompanies.
Speaker 1 (19:54):
Everyone talks about pensions, of what growth does it
make, what are the charges andwhat are the flexibility?
Maybe, but what they lack isunderstanding or asking about
the service, the service.
Speaker 2 (20:07):
That's the reason why we chose the absolute.
Speaker 1 (20:09):
We have the service is only an issue.
At the point that the servicebecomes the issue, I, I need my
money now.
Somebody has died, it's thereactive thing and people you
know.
It's not given advice here, butif you have any one of those
three pension plans, you need tohave a serious look, because it
might all be rosy now andyou're putting the statements
(20:31):
into a Box or something, but thedate that you come to start
wanting that, that's when allthe troubles are hard to deal
with from an advisor point ofview, with any other path We've
got a few still kind of we'vepicked up on there which we've
got a Kind of look out now.
Speaker 2 (20:46):
But yeah, the service is pretty good.
I don't know that.
Speaker 1 (20:50):
I think they said there's going to be over a
thousand complaints in a yearfor some of them on service.
Let's take the time to complainand the service level is.
Nothing got to do with charges,nothing got to do with the, the
fund performances in it, it'sjust the accessibility of it.
Yeah but do you know what peoplewant me to write, as the other
day some came up on that I wasreading about Rishi Sunak has
(21:13):
said they stayed pension andhe's gonna honor the triple lock
again.
So it's neck is.
It's the, the September numbers, so for all benefits in here,
yeah.
September numbers of wagegrowth inflation, or 2.5% on the
September, it kicks in thefollowing April.
So you're gonna have all of theM, the I was gonna say all day
(21:33):
pensioners, but they're notanymore.
Those are age.
Speaker 2 (21:37):
They will stay pension honest and the state
benefits it's gonna be it'sgonna cost a small fortune again
from a plan again next year.
Speaker 1 (21:45):
Billions again.
Speaker 2 (21:46):
You can't, you can't really where they make you this
money.
Speaker 1 (21:49):
Well, didn't they say it wasn't this?
Make him out that.
But what's the?
The actuaries for lots, the bigcompanies for the DB schemes
body, boddington, canada name,they said, based on the numbers,
now on the calculation state,not state pension, on the
calculation of DB schemes, theyhave excess and they're looking
(22:12):
at taking that money out.
And this is where the nextshe's going to hit the fan,
because you're taking a snapshottoday, based on the actuarial
figures that can change on aregular basis, hence why they
have to re-evaluate the CETVCash equivalent transfer value
every 12 weeks.
They're looking now at takingmoney out of these DB schemes to
(22:33):
use.
So I don't know, does is reallygone?
Well, they might invest thatmoney somewhere else and we may
be able to get tax on that.
You can just see a car crashhappening again.
We don't learn, do we now, onthe slightest, we did this
before and some repeats oh, mygoodness me.
Speaker 2 (22:49):
It's there'd be no state pension for us when we
come to retire will be a verydifferent thing at this rate,
because they won't be any money.
Speaker 1 (22:55):
I still maintain there will be, but I think the
age is going to go up and it'llbe in the 70s, even though it's
60 something now.
I think it'll be in some way.
However, they do some sort ofmeans tested.
Speaker 2 (23:09):
I wonder whether it'll be that element to it.
We shall be a bit of a kick inthe goodies Because you've still
paid into the system.
Why should you be Negative infact much you have, just because
you've saved a bit more moneythan others?
I think it's just because pointsaving is a.
Speaker 1 (23:24):
They'll just say well , look you're, it's not a lot
You're not saving into theyou're in I it contributions not
going into a pot for you.
It's paying for today's peopleand the people living longer,
there's less people working.
So they're not going to be ableto afford it.
So that is the crap we'll haveto deal with.
But hey, how they're.
There are the issues of the day.
Speaker 2 (23:46):
No, really, it's the way the world.
Speaker 1 (23:49):
It's just a little come round.
Have you had your heel yet nowor do it?
Will we sign on my heel?
I was gonna say it will besigned on the heel before my
knee to.
Speaker 2 (23:58):
I have.
I'll actually have proper lunchin a bit from freezer.
One of my frozen Pre-made meals, semi myself not bought.
Speaker 1 (24:08):
See, I think there's something to be said about I
made my muffins this week.
They didn't taste like I'mbanana and Card muffins, but we
get there, oh.
Speaker 2 (24:16):
so what they meant to taste that's what I meant to
taste like.
Yeah, I can't.
I can't eat anything withgluten in, as we know.
Speaker 1 (24:22):
I'll make gluten-free ones the next day.
Oh, good luck with that.
Speaker 2 (24:24):
They'll be dense as you can.
They'll be extremely dense.
You know what I did literallygot to follow those recipes to
the tee, right, becauseotherwise they will literally my
one, I didn't.
York's putting three tried tomake the other day.
Speaker 1 (24:38):
Do you remember the guy from?
Speaker 2 (24:40):
they break a window.
Speaker 1 (24:42):
The Muppets.
They're the chef in the Muppets.
Do you know what?
He's Do-do-do-do big here?
Where's the big chef had?
Naturally would, as a chef, buthe just throw stuff in.
That's how I was making mymuffins the last day.
The recipe was there to use asa guiding light.
Speaker 2 (24:57):
Not as a sat.
I'm a bit like that and it justlike I mean a Satay sauce on
the weekend and I kind of lookedat that I'm.
This is how I generally do alot of.
I'll have a look at the recipeand go You're okay, let me do it
my way and just substitutethings out and, in fairness, it
was superb.
Speaker 1 (25:16):
We better let people go home and have some food.
Speaker 2 (25:19):
Me myself hungry.
Speaker 1 (25:22):
You know all the healthy banana and carrot
muffins and satay, satay chicken, satay chicken.
I might not be here next week.
I might be on holiday.
You might have to do something.
Speaker 2 (25:30):
Oh, my good solo yeah .
Speaker 1 (25:31):
Yeah, yeah, oh, where are you?
Speaker 2 (25:34):
Oh, I am a cruise.
Spea (25:35):
Do-do-do-do-do-do-do-do-do .
Yeah, see if anyone knows howto survive Disney cruise and For
our sleep today.
Speaker 2 (25:45):
You'd be alright, you'd be.
You'll be able to see Mickeyand Minnie, and I'll tell you
what I won't be doing.
Speaker 1 (25:50):
There won't be any.
You'll there.
It'll be the full-on oh.
Speaker 2 (25:56):
Smash the buffet on a room.
So the last cruise I went on.
Speaker 1 (26:01):
I thought we're gonna stop talking about food.
Speaker 2 (26:02):
We are, but it was a P&O cruise.
I was in the Caribbean andevery lunchtime they did a
different sponge pudding.
Now anyone who knows me so Iknow I'm a big fan of a sponge
pudding.
This is before the days ofwhere I couldn't have gluten and
I used to every lunchtime wouldhave a sponge encusted,
literally like heaven Do youknow when you go on holidays To
(26:23):
be honest, like, literally, likeyou're on a massive come-in
there when you come home?
Speaker 1 (26:26):
Oh, I'm dreading it Two weeks of it.
Do you know when you go onholidays and you have a big
breakfast at usually about nineo'clock or?
Speaker 2 (26:32):
three course breakfast.
Speaker 1 (26:35):
And then by 11, if you're in a resort, something
you can smell the chips orsomething by the pool you go.
I'll eat again.
Speaker 2 (26:41):
All the cruise is usually got like a barbecue
going with the burgers.
Speaker 1 (26:43):
You want to eat them now and a half and go on your
sat by a pool.
Speaker 2 (26:46):
You'll have your burger at 11 from the little
thing, and then at 1.30 you'llgo and have another buffet and
then you'll have a little snackthen later on and then you'll be
into your seven course eveningmeal or whatever it is.
Speaker 1 (26:57):
I think this is why I needed to buy the eight pieces
of clothing the other day,because I needed a small, medium
and large, or sorry, a medium,large and extra large for the
different days Just on the walkaround the ship a few times.
Enjoy next week.
I'll be listening in.
Thank you 9.
Welcome.
This is going to be my lastpodcast.
Well, for two weeks I'm goingto be away.
So today we're going to chatabout the valuable companies of
the world, the FTSE chiefs andtheir massive pay rises, hul
pension complaints and, lastly,how Rishi is going to manage to
(00:21):
pay the state pension when thebig kick kicks in again next
April.
So sit back, grab some drinksand relax.
I feel my age today.
(00:43):
I've been doing, you know, I'mdoing my, my, my exercise, and
I've been doing a lot of thisbody weight.
I think I'm fitter than I wasat 25.
Now I'm 45.
Um geez, the inside workings.
They just feel all sore.
Speaker 2 (00:58):
Do you actually generally think you're fitter
than you were at 25?
Speaker 1 (01:00):
Yeah, yeah, I don't think I'd be able to run faster,
because I'm not on the minute.
Naturally, I think there'sabout two people in the world
that don't know that I had anAchilles injury a few years ago.
Speaker 2 (01:10):
Um, the seven days.
But I do think past episodes,so full of that yeah.
Speaker 1 (01:16):
I do think I'm more, more, I'm more physically fitter
, but I don't think I've is thatmore than cause.
Speaker 2 (01:22):
like you're, you're an average gym goer.
I do seven days a week Five.
You train the weekends, don'tyou?
Yeah, but in my shed.
So my shed so exercise sevendays a week.
Speaker 1 (01:32):
Yeah, yeah, I can.
Speaker 2 (01:34):
Uh, get your body moving.
So since you've changed changedinto a body weight routine,
does that mean you've beenfitter than the stuff you were
doing before that, Like thechest and biceps workout you
were doing.
You'll be each weight.
So yeah, yeah, yeah.
Speaker 1 (01:50):
Do you know what I do think?
So, because I think it it makesyou get overall fit everywhere
else Bloody horrible.
Do you know it?
Just when you look at whatpotentially you're gonna, if you
find a session to do and you go, how the hell are you going to
get through that?
But you do.
But I do think it's.
It's exactly like you say ifyou go into the gym without a
(02:11):
plan, it's a bit like what we doin the world of money.
Speaker 2 (02:13):
You're following a program, then yeah.
Speaker 1 (02:14):
And if you go into there and you don't have a plan,
the first thing he goes what'sfree and most men will go for
something that's free weightsand most women I know
generalizing it is going over toto to push something up and
it's a natural way ofgeneralization.
Yeah, I've going over and justgetting the free weights and
lifting, you know, and tricepsand chest and all that Chest and
(02:37):
biceps and get away from all ofthat.
So yeah, I do think I fit,although I think I need three
and one oil in all the jointsbecause they all feel sore at
the moment.
But that's because I wascarrying more weight, you see,
and you're pushing heavierweight.
It's a kind of contradictionbecause you're pushing heavier
weights when you, when you startthese body weight exercises and
technically, as you go on,you're pushing less weight
(02:58):
because you're potentiallygetting fitter.
Speaker 2 (03:01):
But I don't think you're pushing less weight
because you're transferring moremuscle, which is heavier than
fat, isn't it?
I think this is not that you'llfind.
I still think there's a bit offat there Still.
Speaker 1 (03:09):
anyways, talking about fat right, 50 are the most
valuable companies in the worldin 2023.
You know I like to go intothese things.
Well, 50 are we?
God?
No, I know.
Market cap McDonald's right isvalued at $208 billion.
(03:31):
And there's.
You know how far do you have todrive or walk to see another
McDonald's?
Speaker 2 (03:38):
They are literally everywhere, aren't they?
Speaker 1 (03:40):
They're even in Russia.
I don't need to serve themanymore, but they are.
They are all over the worldLike you kind of.
Speaker 2 (03:46):
you generally see the golden arches wherever you go.
Speaker 1 (03:50):
Or smell them from a bit further away.
Speaker 2 (03:52):
Airports.
Speaker 1 (03:54):
Are they airports.
Speaker 2 (03:55):
I think they are Um service stations.
Speaker 1 (03:58):
Yeah.
Speaker 2 (03:59):
They're all major cities, towns, and I'm just
thinking like I think inConfidia Lone we got potentially
three of we.
Speaker 1 (04:07):
I'd say there's at least 45,000 within the UK alone
.
I could be totally wrong withthe numbers.
But you know in every smallvillage, and you multiply that
by all of the countries you knowin America, then the bigger,
bigger countries in China, thatthere must be tens of thousands.
I'll tell you now.
Speaker 2 (04:27):
So as of July 2023, there was 1396 McDonald's
restaurants in the UK.
Speaker 1 (04:32):
Is that all?
Speaker 2 (04:33):
Yeah, the location of the UK is the country with the
most number of McDonald'slocation in the UK is England,
with 1182.
Yeah, which is 85% of allMcDonald's restaurants in the UK
.
Wow.
Speaker 1 (04:48):
I thought there'd be more than that.
Fair enough, maybe we just havebeen to a lot of them.
Speaker 2 (04:53):
That's not a lot of mine, I thought there was more
to do.
Speaker 1 (04:56):
Well, if you consider between, you know where we are
recording this now you could,within 15 minutes, you could end
up in 10, 12 of them.
So you know the geography ofthe UK being a lot bigger.
Yeah, I was expecting a biggernumber, but it is what it is.
But it was just interesting.
Market cap $208 billion, andyou know they're everywhere
(05:19):
Amazon.
Speaker 2 (05:19):
So that's the market values yeah, the the company
yeah, for now and future worth.
Speaker 1 (05:27):
Amazon, so McDonald's that we see everywhere.
208 billion dollars Amazon 208billion, billion.
Yeah, so it's not a smallnumber Amazon 1.4 trillion.
Well and then you go Apple 2.8trillion dollars, Just mind
(05:50):
blowing.
You know McDonald's is this bigand you're just trying kind of
put in the share value.
Yeah, it's huge, it'sabsolutely huge.
And these boys get paid.
Well, you know, I'm runningthem.
Speaker 2 (06:00):
But, like I guess, if you look at Apple, the market
is full of Apple products, isn'tit?
Yes, yeah more than 1300locations?
I don't think.
Speaker 1 (06:10):
Apple will be listening to this.
It's a great way If you're intown.
We went into Cardiff last week,we last weekend me and the
little man and we were in therea few weeks ago and he went.
We go to the Apple shop, so yougo into the Apple shop and just
go, just have a little browseright, free games in there half
an hour 45 minutes we can playon the yeah, don't tell anyone,
(06:32):
though that's.
That's a little bit of a gift toeveryone there now.
Yeah, go in play the computergames, say nothing because
you're not loading Smith'sanymore.
Speaker 2 (06:43):
Scooty card Scooty card's fed up.
A following around.
Speaker 1 (06:46):
You know you don't have to buy anything in there.
No, apple have a lot of mymoney with a lot of products.
So I'm you know I do like them.
But you can go in and you cantest the the games, but it was
in the zone I playing three ofthem at once.
Speaker 2 (06:58):
Yeah, I was busy the Apple stores.
Yeah, people just browsing whatthey actually know they are.
Speaker 1 (07:03):
They're all always buying and then when you see
them guys are good at sellingand they're upselling, you know.
Tell them how rubbish the stuff, the stuff that they have, is.
It's great at Apple, but I'venever been bothered with the
whole.
Speaker 2 (07:13):
You want a new phone.
When a new phone comes out, Igenerally go two generations
below because I know it's gonnabe cheaper by the brand new up
to date.
When yours is about sevengenerations below in there,
don't think they even make yours.
Speaker 1 (07:25):
They don't, and, and I only Can't I only?
Want to change mine becauseit's nice and small.
I don't want the big ones andI'm gonna have to change
eventually at some stage, but sobe it.
Yours is like the firstgeneration.
Mine is fine.
It does what I needed to do aparty and the anything that
isn't great.
I was taking calls.
Speaker 2 (07:44):
So brilliant calculate, actually the
calculate hands then it'sshocking.
Speaker 1 (07:49):
I was gonna say something else.
Do you know, talking aboutcompanies and all that they I
read the other day the top thefutsy 100?
Ceos know that pay rises theygive themselves the back at.
Oh wow.
Well, you know, we hear and wewe disagree with it that does
this cost of living crisis.
These guys are living.
Guys and ladies are living on adifferent planet.
(08:10):
Average Pay rise for themselves.
I'd love to know how to get itsorted.
500,000 pounds average pay rise.
Speaker 2 (08:20):
Well, it's the board that decide.
Shame on your board's.
The executive board decide whatthe pay rise is gonna be, isn't
it?
Speaker 1 (08:26):
The guy and runs AstraZeneca.
I can't even pronounce his name, sir Pascal, I'm not even gonna
try there, cuz I get somebodybrave me 15.32 million pounds
pay.
Now I know that might be madeup of shares and future shares.
I don't care how it's made up,it's still.
That's the package.
Speaker 2 (08:44):
That's 15 million.
This is salary.
Speaker 1 (08:46):
Well, maybe not salary, maybe made up of your
face.
Yeah, you know, 1.2 million,1.4 million a month.
Speaker 2 (08:55):
I know I could be.
Speaker 1 (08:57):
I didn't get his pay rise, but the average was 500k
over across the board.
Speaker 2 (09:02):
Probably gonna have 10%, isn't he 1.5 million?
Speaker 1 (09:06):
hmm, nice, I'm nice little number.
Speaker 2 (09:09):
Wow.
Speaker 1 (09:10):
They, they said from world in a different world.
They don't need to worry aboutthe price of gas going up.
Speaker 2 (09:16):
They don't need to worry relative, though, isn't it
, because I can't imagine helives in a two up, two down kind
of terraced house and drivesaround in a tester three.
He probably has a free to carsholiday homes.
So unless he's like an avidsaver, he probably spends all
(09:37):
that.
Speaker 1 (09:37):
Could well do.
Speaker 2 (09:38):
I know there's a point where I think sometimes
you can't spend it all kind ofdiscreet sometimes, but he's
probably living to thatlifestyle.
Speaker 1 (09:48):
That's a good lifestyle.
There's a good life cost in it.
Speaker 2 (09:51):
Yeah, well, he could be.
He could be hiring a yacht forthe weekend, which might cost
him the best part of a quarter amillion for a weekend, because
that's generally what I cost Ithink a year or two ago I might
have we look to do that yeah.
Speaker 1 (10:06):
Um Footballers.
I don't know why I have thelikes of Messi and Ronaldo in my
brain, that they rented a yachtor something, city like that,
or two footballers that kneweach other, and it was a crazy
price for a week.
Speaker 2 (10:18):
Yeah, yeah, crazy about a million for a week.
Speaker 1 (10:20):
Probably Some of these big yachts, you, which I
kind of rented out, the bigsuper yachts, somebody wrote in
the paper last week that thebetter way to get richer Isn't
more hard work, it is smarterwork.
So you know, when you'retalking about that guy from
AstraZeneca, that I think that'sa lot of bull, that statement.
Because how rich is rich?
(10:42):
You know, if you don't knowwhat makes you happy or what you
like, you're not gonna know howmuch it costs.
So you don't know how muchmoney you need.
So you don't know how hard hardto work, as in more hours now I
know it's not just about thehours but if you know what makes
you happy, you can actuallystructure your life Better, and
we talk about that all the time.
Speaker 2 (11:01):
So I think that's the biggest problem with people,
isn't it at the moment Is thatpeople don't know what make them
happy.
Yeah, people perceive, orsocial media tells them should
make them happy.
Yeah, but isn't what reallymakes them happy?
Yeah?
Speaker 1 (11:14):
they're constantly following the Joneses and and
trying to buy happiness throughAmazon or through Some websites.
Speaker 2 (11:21):
It's the dopamine effect isn't it and that, and
that's the danger, where you canbe fricking through a social
media and selling pops of night,then it you look, you look and
go oh, wow, that is brilliant.
Actually, all I'm beingTargeted or marketing wise the
moment is CRM systems, becausewe've been looking at a new CRM
systems.
That's all I get targeted onsocial media at the moment, but
(11:42):
it has made me click on them andgo actually, that's a good one.
So now we end up with endlessdemos of different CRM softwares
, but that's a little bit kindof different.
But if you're constantlyLooking at clothing, shoes, bags
, cars, you're gonna beretargeted those things, yeah,
and it's then gonna make you, IGuess, kind of think you want it
(12:03):
, but actually do you reallyknow why you want that?
Is I actually gonna make youany happier by having that
product?
They don't get me wrong, itmight well too.
Speaker 1 (12:09):
Well, will they ping you the email in a few weeks
time.
Gone watch, you've looked at usnow 6% less in cost.
We thought you'd you'd like toknow, and then you know some of
them will like, so some of themhave.
Speaker 2 (12:21):
You know great systems.
They retarget you with adverts.
Your we used to do and we areclothing brands.
You know the retargeting wasbrilliant.
You'd have different kind of adsets which would have discount
codes on them which would drivepeople in.
They worked.
Speaker 1 (12:32):
I know you've got.
If people could see this nowwhat I'm gonna say to you just
gonna roll your eyes Because I'mgonna win holidays next week.
I got a code for some clothingcompany and I ordered the other
day.
I got a 10% discount.
Speaker 2 (12:47):
I got this goes back on YouTube.
I got rolling my eye, got eightitems Okay you're like a reed
your online retails.
Speaker 1 (12:54):
Night me I repacked the the bag last night so I just
got a drop it off to an everynow cuz I'm how many you
actually taking of those itemsof the eight?
Zero.
Speaker 2 (13:07):
So it's an interesting fact.
Okay, so when we ran theclothing brand which we had, we
Back oh go, quite a few yearsago, we were, we were looking
for investors and we sat downwith one of the investors and
they were telling us about whatsort of markets we could break
into and how soon markets work.
They actually talked about theGerman market.
(13:28):
So German mark only comes on aretail and somebody's probably
gonna correct me on this, right,but this is what I was told by
someone who was very senior in alarge clothing brand, actually
had been at non-exec level InGermany they will order.
So if you're 34 inch waist,deliver order of 32 a 34, 36
(13:50):
inch short, medium and long leg,right, okay, because they'll
want to check is the right sizefor them, and then they'll send
it back.
So it's expected Also, then,that the return is free, and if
they don't, they probably won'tbuy from you.
So it's an interesting market.
So that was one of theconversations when, if you want
(14:11):
to push into that type of market, we've got to be mindful it's
going to cost us a lot of money.
So we've really got to decidewhether we want to or not.
Speaker 1 (14:17):
So the cash flow of selling six items at 30 quid a
pop is 100, and 80 quid.
Will they all come back.
It's going to cost you 15 quidto post out, because we do, and
10 quid to come back.
Speaker 2 (14:28):
We used to have free returns.
You go on the website.
It was linked to Royal Mail.
You'd put in your parcel number, hit it and it'd print your
return label.
Now that would cost us then, sowe would get charged.
Now we didn't get a huge amountof returns, but when you used
to get it, sometimes you'd sendit.
You might send out a packagewhich might have cost you 10
quid to send out and that wasincluded because it was free
(14:49):
post and packaging over acertain value.
We come back.
So it could cost us 20 quid andwe never made a sale.
Plus, on top of that it's stafftime to pack the items.
It was also the advert whichmight have brought them in, so
that might have cost you 30 quid.
Speaker 1 (15:04):
You just lost that yeah.
Speaker 2 (15:06):
Yeah, so, yeah, so it's kind of, but that's going a
little bit off tangent.
But if it's there to do, at theend of the day you've bought
these things because you want totry them.
Speaker 1 (15:15):
It's no different.
God knows why you sent them allback mind.
To me, I know it's no differentthan going into town, paying a
five at a park, up and trying onthings and going.
No, I don't feel that I have aduty to go Because I've ordered
them online.
I have to hold one of them.
I didn't want any of them, infact, I don't know why.
Speaker 2 (15:32):
I ordered two of them .
Why did you order them?
Speaker 1 (15:35):
In fact two of the items I just looked like last
night.
I went I don't even know why Iordered this and I didn't even
unpack them, I just went.
They're going to straight back.
Anyway, never mind about goingback Outside there, that will
never go back.
There's two containers or twoboxes of fuel.
Speaker 2 (15:50):
Do you see the numbers in them?
Speaker 1 (15:51):
Yeah, fuel, they're flying at the moment.
They've never been rewarded forthat.
Do you remember the originalfuel?
Which one was?
The one that was sand?
Do you remember the one thatwas absolutely horrible?
Speaker 2 (16:02):
Strawberry with strawberry and cream.
One.
Speaker 1 (16:04):
No, the strawberry and cream one was okay, the
berry one.
Speaker 2 (16:06):
Yeah, that was very nice.
The berry one was really kindof watery, wasn't it?
Speaker 1 (16:10):
It was.
Speaker 2 (16:10):
It was really good.
It was my go-to is chocolateand salty caramel.
I guess they'll go withstrawberry and cream one, but
they seem to be.
Speaker 1 (16:18):
Have they thickened that up, though?
I haven't got one in a while.
Speaker 2 (16:21):
I didn't know.
It was on the shelves in StPetersburg.
Speaker 1 (16:23):
Yeah, not cheap, but they're adapting, a bit like the
iOS and Apple.
When you look back and you seethe original first version that
crappy, sandy one they're justevolving and evolving Because I
saw the last day they're lookingfor yeah, feed back in there.
They sold.
They're even tasters, yeahimagine 300 million meals they
sold in the year to July 2022.
Speaker 2 (16:44):
Well, I hope they've improved those.
Speaker 1 (16:46):
Well, I presume the meals include oh, I presume it's
included, all of them, you know?
In other words, you had hotwater too.
Yeah, they're horrible.
They're like a pond noodle.
Speaker 2 (16:53):
Yeah, yeah yeah, horrible is a bit strong.
Speaker 1 (16:56):
An understatement.
Speaker 2 (16:58):
Yeah, they weren't the best.
Speaker 1 (16:59):
They were brutal.
Speaker 2 (17:00):
I tried them all as well.
Speaker 1 (17:02):
Yeah, yeah, but they never give you that samples, do
they?
They're just gonna you buy themor you don't buy them.
It is what it is.
Speaker 2 (17:09):
Yeah, like so that the RTT, as they call them,
ready to drink.
We'll see what that's supposedto answer.
They're really, really good.
The bars they do are not thatgood.
They're brutal.
Carbord they make.
They do yourself far too sweet,I find, but the rate of drinks
(17:31):
they're superb.
Yeah, I'd say my goal that'sperfect for what I have for
breakfast 400 calories, nogluten, no dairy, vegan,
friendly for our vegan followersout there.
It's, yeah, he, nutriciouslygood value.
People probably argue, the fullof sugar and stuff.
But hey, oh, you know me, Iprobably could put worse in my
(17:54):
body, could go around to cars,burgers and sticker sausage and
Wrong with that, but I ain'tgonna be good for me, is it?
Speaker 1 (18:04):
do you know what is there value to 440 million and
considering they're not goingthat?
Speaker 2 (18:08):
long Wow, and and we're talking about a billion-
values we're talking earlier onabout the.
Speaker 1 (18:14):
McDonald's at 2.208 billion.
I know it's a fact, but they'regoing what?
30, 40 years?
440 million in a couple ofyears time?
Speaker 2 (18:23):
Yeah, I don't know because we go since the 70s, no
idea.
Speaker 1 (18:27):
There's something on Netflix about McDonald's the
founder.
Yeah, you know, seen thatbefore.
No, no.
Speaker 2 (18:32):
It's been a view that is a brilliant for watch it.
Speaker 1 (18:34):
No, I've been.
I've been too busy on genuinelywatch it.
You like that the MarkCavendish, the Tour de France.
Speaker 2 (18:42):
I'm better than all of those, lance.
Speaker 1 (18:43):
Armstrong's film.
No, I'll get to it eventually.
Eventually.
Too busy, too busy in the gym,pension complaints, right crap
servicing levels and a lot ofyou caveat this first and a lot
of people being unable to accesstheir pensions.
Speaker 2 (19:05):
So this is the providers we're talking about.
Speaker 1 (19:07):
Yes, Complaints to Foss, the albus man only from
advices from advice and I'veread this directly to Foss from
People seeing that there's theservice levels of certain
companies and trying to getaccess to their pension when the
date comes, either through theage or a death benefit and stuff
(19:31):
like that.
Three of the, the top culprits,don't mind saying them Scottish
widows, reassure and Phoenix.
Speaker 2 (19:42):
Just was trying to deal direct.
Speaker 1 (19:43):
Yeah, and if I know, we talk about.
Speaker 2 (19:47):
Yeah, because they remain sure about I understand
with Phoenix and reassurebecause all they read I was
consolidating design.
They did not really pensioncompanies.
Speaker 1 (19:54):
Everyone talks about pensions, of what growth does it
make, what are the charges andwhat are the flexibility?
Maybe, but what they lack isunderstanding or asking about
the service, the service.
Speaker 2 (20:07):
That's the reason why we chose the absolute.
Speaker 1 (20:09):
We have the service is only an issue.
At the point that the servicebecomes the issue, I, I need my
money now.
Somebody has died, it's thereactive thing and people you
know.
It's not given advice here, butif you have any one of those
three pension plans, you need tohave a serious look, because it
might all be rosy now andyou're putting the statements
(20:31):
into a Box or something, but thedate that you come to start
wanting that, that's when allthe troubles are hard to deal
with from an advisor point ofview, with any other path We've
got a few still kind of we'vepicked up on there which we've
got a Kind of look out now.
Speaker 2 (20:46):
But yeah, the service is pretty good.
I don't know that.
Speaker 1 (20:50):
I think they said there's going to be over a
thousand complaints in a yearfor some of them on service.
Let's take the time to complainand the service level is.
Nothing got to do with charges,nothing got to do with the, the
fund performances in it, it'sjust the accessibility of it.
Yeah but do you know what peoplewant me to write, as the other
day some came up on that I wasreading about Rishi Sunak has
(21:13):
said they stayed pension andhe's gonna honor the triple lock
again.
So it's neck is.
It's the, the September numbers, so for all benefits in here,
yeah.
September numbers of wagegrowth inflation, or 2.5% on the
September, it kicks in thefollowing April.
So you're gonna have all of theM, the I was gonna say all day
(21:33):
pensioners, but they're notanymore.
Those are age.
Speaker 2 (21:37):
They will stay pension honest and the state
benefits it's gonna be it'sgonna cost a small fortune again
from a plan again next year.
Speaker 1 (21:45):
Billions again.
Speaker 2 (21:46):
You can't, you can't really where they make you this
money.
Speaker 1 (21:49):
Well, didn't they say it wasn't this?
Make him out that.
But what's the?
The actuaries for lots, the bigcompanies for the DB schemes
body, boddington, canada name,they said, based on the numbers,
now on the calculation state,not state pension, on the
calculation of DB schemes, theyhave excess and they're looking
(22:12):
at taking that money out.
And this is where the nextshe's going to hit the fan,
because you're taking a snapshottoday, based on the actuarial
figures that can change on aregular basis, hence why they
have to re-evaluate the CETVCash equivalent transfer value
every 12 weeks.
They're looking now at takingmoney out of these DB schemes to
(22:33):
use.
So I don't know, does is reallygone?
Well, they might invest thatmoney somewhere else and we may
be able to get tax on that.
You can just see a car crashhappening again.
We don't learn, do we now, onthe slightest, we did this
before and some repeats oh, mygoodness me.
Speaker 2 (22:49):
It's there'd be no state pension for us when we
come to retire will be a verydifferent thing at this rate,
because they won't be any money.
Speaker 1 (22:55):
I still maintain there will be, but I think the
age is going to go up and it'llbe in the 70s, even though it's
60 something now.
I think it'll be in some way.
However, they do some sort ofmeans tested.
Speaker 2 (23:09):
I wonder whether it'll be that element to it.
We shall be a bit of a kick inthe goodies Because you've still
paid into the system.
Why should you be Negative infact much you have, just because
you've saved a bit more moneythan others?
I think it's just because pointsaving is a.
Speaker 1 (23:24):
They'll just say well , look you're, it's not a lot
You're not saving into theyou're in I it contributions not
going into a pot for you.
It's paying for today's peopleand the people living longer,
there's less people working.
So they're not going to be ableto afford it.
So that is the crap we'll haveto deal with.
But hey, how they're.
There are the issues of the day.
Speaker 2 (23:46):
No, really, it's the way the world.
Speaker 1 (23:49):
It's just a little come round.
Have you had your heel yet nowor do it?
Will we sign on my heel?
I was gonna say it will besigned on the heel before my
knee to.
Speaker 2 (23:58):
I have.
I'll actually have proper lunchin a bit from freezer.
One of my frozen Pre-made meals, semi myself not bought.
Speaker 1 (24:08):
See, I think there's something to be said about I
made my muffins this week.
They didn't taste like I'mbanana and Card muffins, but we
get there, oh.
Speaker 2 (24:16):
so what they meant to taste that's what I meant to
taste like.
Yeah, I can't.
I can't eat anything withgluten in, as we know.
Speaker 1 (24:22):
I'll make gluten-free ones the next day.
Oh, good luck with that.
Speaker 2 (24:24):
They'll be dense as you can.
They'll be extremely dense.
You know what I did literallygot to follow those recipes to
the tee, right, becauseotherwise they will literally my
one, I didn't.
York's putting three tried tomake the other day.
Speaker 1 (24:38):
Do you remember the guy from?
Speaker 2 (24:40):
they break a window.
Speaker 1 (24:42):
The Muppets.
They're the chef in the Muppets.
Do you know what?
He's Do-do-do-do big here?
Where's the big chef had?
Naturally would, as a chef, buthe just throw stuff in.
That's how I was making mymuffins the last day.
The recipe was there to use asa guiding light.
Speaker 2 (24:57):
Not as a sat.
I'm a bit like that and it justlike I mean a Satay sauce on
the weekend and I kind of lookedat that I'm.
This is how I generally do alot of.
I'll have a look at the recipeand go You're okay, let me do it
my way and just substitutethings out and, in fairness, it
was superb.
Speaker 1 (25:16):
We better let people go home and have some food.
Speaker 2 (25:19):
Me myself hungry.
Speaker 1 (25:22):
You know all the healthy banana and carrot
muffins and satay, satay chicken, satay chicken.
I might not be here next week.
I might be on holiday.
You might have to do something.
Speaker 2 (25:30):
Oh, my good solo yeah .
Speaker 1 (25:31):
Yeah, yeah, oh, where are you?
Speaker 2 (25:34):
Oh, I am a cruise.
Spea (25:35):
Do-do-do-do-do-do-do-do-do .
Yeah, see if anyone knows howto survive Disney cruise and For
our sleep today.
Speaker 2 (25:45):
You'd be alright, you'd be.
You'll be able to see Mickeyand Minnie, and I'll tell you
what I won't be doing.
Speaker 1 (25:50):
There won't be any.
You'll there.
It'll be the full-on oh.
Speaker 2 (25:56):
Smash the buffet on a room.
So the last cruise I went on.
Speaker 1 (26:01):
I thought we're gonna stop talking about food.
Speaker 2 (26:02):
We are, but it was a P&O cruise.
I was in the Caribbean andevery lunchtime they did a
different sponge pudding.
Now anyone who knows me so Iknow I'm a big fan of a sponge
pudding.
This is before the days ofwhere I couldn't have gluten and
I used to every lunchtime wouldhave a sponge encusted,
literally like heaven Do youknow when you go on holidays To
(26:23):
be honest, like, literally, likeyou're on a massive come-in
there when you come home?
Speaker 1 (26:26):
Oh, I'm dreading it Two weeks of it.
Do you know when you go onholidays and you have a big
breakfast at usually about nineo'clock or?
Speaker 2 (26:32):
three course breakfast.
Speaker 1 (26:35):
And then by 11, if you're in a resort, something
you can smell the chips orsomething by the pool you go.
I'll eat again.
Speaker 2 (26:41):
All the cruise is usually got like a barbecue
going with the burgers.
Speaker 1 (26:43):
You want to eat them now and a half and go on your
sat by a pool.
Speaker 2 (26:46):
You'll have your burger at 11 from the little
thing, and then at 1.30 you'llgo and have another buffet and
then you'll have a little snackthen later on and then you'll be
into your seven course eveningmeal or whatever it is.
Speaker 1 (26:57):
I think this is why I needed to buy the eight pieces
of clothing the other day,because I needed a small, medium
and large, or sorry, a medium,large and extra large for the
different days Just on the walkaround the ship a few times.
Enjoy next week.
I'll be listening in.
Thank you 9.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Law & Order: Criminal Justice System - Season 1 & Season 2
Season Two Out Now! Law & Order: Criminal Justice System tells the real stories behind the landmark cases that have shaped how the most dangerous and influential criminals in America are prosecuted. In its second season, the series tackles the threat of terrorism in the United States. From the rise of extremist political groups in the 60s to domestic lone wolves in the modern day, we explore how organizations like the FBI and Joint Terrorism Take Force have evolved to fight back against a multitude of terrorist threats.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com