August 2, 2023 • 35 mins
Ready to embark on a thrilling journey with us? We're back from our sabbatical, armed with riveting conversations about business and finance, and the latest giveaways you won't want to miss. We reminisce about personal experiences, including a recently attended wedding and touch on the new visa requirements for non-European travelers. As we dip our toes back into the podcasting world, we also discuss a heartwarming family show on Channel 4.
Ever wondered how a cruise with the Good, Bad, and Rugby Boys would be? We spill the beans on that, and engage in some light-hearted banter about the highs and lows of golf, body weight exercises, and our recent office move. Fair warning though, our carpet woes might tickle your funny bones as we lay out the saga of the never-ending carpet issue.
But it's not all laughs and lighter moments. We venture into the serious territory of financial planning, specifically retirement. The landscape of retirement is morphing, and we share our concerns about inadequate savings, the impact of inflation, the growing wealth gap, and the challenges of acquiring property today. We further delve into the intricacies of finance like finding the right loan rates. So, join us as we unravel these complex issues and remember, being informed is being empowered.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:11):
And just like that we're back.
Speaker 2 (00:13):
It's been a while.
Speaker 1 (00:15):
What date?
Speaker 2 (00:17):
13th of April, the last one went out, live, live
went out.
Speaker 1 (00:22):
I've done my time.
I'm back out on remand.
Speaker 2 (00:26):
Can't say that you wouldn't be back out on remand.
Speaker 1 (00:30):
You'd go on remand, sorry, yeah, yeah.
Speaker 2 (00:33):
You'd be watching those police, 24-7 in custody.
You're new again.
Speaker 1 (00:36):
Absolutely Loads them Along with Bargain Brits,
bargain Loving Brits abroad.
Speaker 2 (00:42):
I like that.
Bargain Loving Brits by theseason.
Bargain Loving Brits abroad.
They live in the caravans outthere.
Speaker 1 (00:49):
And the ones that look to go on by the houses
abroad.
You know, mary, and Don.
Speaker 2 (00:53):
There's a new one of those on at the moment.
It's a family business have youseen that yes.
Speaker 1 (00:59):
Mary and Don are looking for a five bed, four
bath with, you know, overlookinga sea view, and they've got 87
and a half thousand pounds tospend.
Speaker 2 (01:10):
Yeah, they want to write in the prime of Marbe, the
one on the Marbe, what I'mtrying to work out is do you
apply for these?
Speaker 1 (01:19):
Do channel four or whoever Send you over there and
put you up?
And then, because no one everbuys, well, we all be paid for.
So have you had a chance tothink about this?
Yeah, we love House Three andwe're going to go back now and
we're going to speak to thefamily.
What do you need to speak tothem from?
I've just got a free holidayfor four days out of here.
Speaker 2 (01:37):
I'm going to know that many of those actually go
through.
They should do one of thosefollow up programs like they do
with the Dragons Den, which onesactually went anyway,
absolutely, because we know theydon't all go to.
We, we know that.
We know that very well.
And now Not that we've been onDragons Den.
Speaker 1 (01:51):
Now, since everyone that voted out of Brexit, isn't
the new changes happening?
Well, it's a 90 day and 180rolling now that you can only
live in places like that and youhave to be very careful.
And from September, is it?
You're going to have to startpaying a visa to go to these
(02:11):
countries Really?
Or September 24 for not Offers?
Good England, okay, anyone, any, any, any non European people
will have to pay a European taxto get into Europe.
Speaker 2 (02:30):
So we have to pay to actually get into Europe.
Speaker 1 (02:32):
You go to Spain next year, you're paying.
I think it's a seven quid a pop, but it's an online
registration and all that.
It's 28 quid.
Speaker 2 (02:40):
So it's literally like going inside the congestion
zone in London.
Now is it?
You got to pay.
Speaker 1 (02:43):
Yeah.
Speaker 2 (02:44):
Well, actually everywhere in it.
You got to pay a new port a new.
Bristol bath, new ports.
I don't want to go there.
Anyway, I can say that's fromthere.
Speaker 1 (02:56):
It's been a while since we've been Well 33.
How?
Speaker 2 (02:58):
long is that now May?
Speaker 1 (02:59):
June, July.
Speaker 2 (03:01):
Well, well, we back for good though.
Speaker 1 (03:07):
This is where we put the bit of take.
Speaker 2 (03:08):
The longest probably break we've had.
Speaker 1 (03:14):
In three years.
It was about it was 2020.
Speaker 2 (03:17):
Yeah, we started April 20th, april 2020.
We started, yeah, yeah.
Speaker 1 (03:25):
I only know that because I don't like it it's not
couple of episodes.
Speaker 2 (03:29):
Yeah, be someone on that.
One cross all podcasts well.
I will.
We are back and it's gonna be alittle bit more the same, but
we're gonna give away a lot morestuff this time, a lot more
what's inside our brains, what'sinside our heads about business
(03:50):
is the main financial planning.
Speaker 1 (03:52):
You said money the last day, didn't somebody?
Speaker 2 (03:55):
say you were rugby.
Speaker 1 (03:56):
You're one of the two guys that do the podcast.
You had a wedding the last day,weren't you?
Yeah, and somebody mentioned it.
Yeah, people listen peoplelisten thank you for the three
things recently.
Speaker 2 (04:05):
Thank you for three people.
I mean a few things recentlywhere they've kind of said you
bring the podcast back, and so Ithought let's get the band back
together yeah, absolutely it'sa small band, it's a two piece
there's a one-man band as wellwe've done a few solo ones on me
yeah, you probably more than meyes, yes, don't.
Speaker 1 (04:26):
You don't enjoy them.
There isn't as much fun.
You know it's a monologue andpeople, people don't even want
to listen to me.
You know, here, in a jointepisode, in a joint episode, how
they put up with me and I'm ona well, he's never listen to us
talk about rugby.
Speaker 2 (04:37):
This time around, yeah, because we're not doing
rugby.
I'll be back soon because wegot games coming up now in the
summer next, next week, I think.
Speaker 1 (04:45):
I don't want to watch it?
Would you go to France if yougot a ticket?
Would you go to France for agame, all expenses?
Speaker 2 (04:52):
no, after what you just told me, now you have to
pay to get in.
Speaker 1 (04:54):
I think it's.
I think it's next year oh, isit okay I know, I know the good,
bad and rugby boys are doing acruise.
How much fun would that be.
Four or five days, two gamesbeen taken in oh yeah, with all
the booze and beer.
Yeah, because, because we do alot of drinking these days
(05:15):
excuse me, can I, can I have avery diluted Chandi please?
what he told you totally but itthat would be a lot of fun.
It isn't cheap.
I saw that the numbers, but Idon't know if they is a
commandeering, a full cruise.
Speaker 2 (05:28):
That would be a lot of people well, I can't imagine
they're on one of those pedalsno, I can imagine on a cruise
with a load of over over 50s ontheir retiree holidays.
So half is for them, half isfor the good, the bad and the
right.
Because you imagine that howschool the speedos?
Speaker 1 (05:47):
they've done some very good ads for it and they've
done the the Titanic and thatand you've got the two boys you
know in the the songs now.
But it would be, it would belots of fun going on and I put
just see how many will actuallygo on.
Speaker 2 (05:59):
That it'd be interesting.
I think it's like a marathon.
Speaker 1 (06:01):
I think you have to do a lot of training in advance
for that and I have no trainingdone, I think I think I'd be,
you know, substitute one night,and I'd be right, but after that
I'd have stayed in bed.
But and two games involved inthat, but I don't know what
games there are.
Speaker 2 (06:15):
But so what's been happening, then?
Speaker 1 (06:18):
you've been playing a lot of golf, haven't you any
better than.
I played golf this morning inthe rain and now this afternoon
it is a bright.
Golf is a game of it's it's.
70 emotions emotions, it's 72.
(06:38):
Well, not for me it's a hundredand a hundred games in itself,
because each shot is a game andyou can't let emotion get the
better of you.
And I give you an example.
Today I was speaking, I wasplaying with a guy we know, josh
and I was pouring down and mythree would.
I pinged it and it went fromright to left.
(07:01):
It bounced and waited on thefairway.
I measured it, it was lovely,it was 247 yards.
Granted, it was downhill.
I'm strutting down like apeacock.
I'm going.
Oh, you know, I am the bestgolf from the world.
Now I've got 200 and somethinglike 11 yards to go on the par 5
.
I've already hit a 247.
(07:22):
I hit shot 2, shot 3, shot 4.
So remember, I have 211 yardsto go on my fifth shot.
I've got 207 years ago.
Speaker 2 (07:34):
So, michael, that is, you can get in a trio.
Speaker 1 (07:37):
So you're just.
I could not hit it one shottoday.
Now, if anyone plays golf, trythis.
I've never done it before.
I try to knock the spots offthe golf ball today.
You know, when you try hard andI know I shouldn't have so
smooth, smooth as fast yeah, andI hit the ball.
Don't know how I hit it.
The club followed through justan an arc, exactly as you would
(07:59):
normally, and the ball hit myleft shin, which is 90 degrees
away, and I'm I've.
No, that's how the.
So when you ask, how is thegolf going?
Shockingly bad, but it doesn'tmatter.
It poured rain, I got soaked,but I'm out golfing.
Speaker 2 (08:18):
I can't play in the wet, I must full-on fear weather
player it was superb.
Speaker 1 (08:23):
It was superb.
As you know, I've just come offa call there getting an invite
for tomorrow and I just can't doit.
I'm getting the bug now.
I'm not playing well at all,but I don't care.
But there's some good shots.
But yeah, summertime superb.
Winter time I'm not.
I'm not a fan of being wrappedup to the end degree.
(08:43):
Your, your, your.
Movement is restricted, um so,no interest.
Speaker 2 (08:48):
Like me, when we played the other day like with
that water who go down, whichwasn't a coffin, I couldn't move
my arms properly in it to swingthe thing.
Speaker 1 (08:57):
So you've got to have the right kit as well the
normal to do at the moment is alot of this body weight exercise
, and I was of the opinionbefore yeah, this is, this is so
easy, you know.
Do you know?
10 of these, 15 of these, 12 ofthese, take a 30 second break.
It's not like lifting weight,oh my lord.
It is so bloody hard to do, butit's lots of fun.
(09:20):
Got a.
I've got 1.3 kilos off in threeweeks my shoulders as well I'm
trying to put.
I want to put some naan, nottake it off well, that's easy.
Speaker 2 (09:29):
I can help you with that.
Have some of mine so can johnnygreg across the road yeah,
that's the problem, and luckilywe don't go there, so we moved
offices moved offices nice big,bright, cold um offices.
Well, it's all right in thisweather, don't it?
It's cold, it doesn't get like,don't need a acorn, it's nice,
(09:49):
um nice, but it's not told bythe carpet, it's gonna.
It's gonna bug me for the restof the year we'll have to put
some picture on social media.
Yeah, we I think we're gonna putsome newspaper down over the um
, the stains on the carpet whichis here, from where we got it
from, it was an hour carpet.
It's what came with thebuilding.
We've managed to decorate it.
We're probably at about 90%decoration there.
We're just waiting for ourbranding on the walls to be
(10:14):
sorted, aren't we?
Speaker 1 (10:15):
yeah, it's gonna.
It's gonna look nice.
It is a lot bigger, um we'regonna do some events here,
aren't we?
Speaker 2 (10:21):
yes shame on the pool table, the swimming pool, the
spa.
It's cozy, I dartboard.
Speaker 1 (10:29):
I'm thinking I was speaking to joff today and and
in between the bad golf shots hementioned.
Um, there's a new placing card.
If opened, remember jjb onqueen street yes, it's got.
Speaker 2 (10:40):
It's got darts, shuffleboard, all that stuff and
that's shuffleboard.
Speaker 1 (10:43):
That's what he was trying to explain.
I went yeah, I've looked atthem.
He said they're brilliant.
Speaker 2 (10:46):
I said they're shuffleboard, the one we played
in that one underground six.
Speaker 1 (10:50):
I said six and a half grand for it and you gotta for
a shuffleboard.
Speaker 2 (10:54):
Shuffleboard, but you can make one.
I think my dad could make oneabsolutely he gives out.
Yeah, there you go.
Speaker 1 (11:01):
Yeah, it's the oil that you the cost of fortune as
well but he can do that thereyou go.
Yeah, we'll.
We'll go somewhere um.
We'll have an event on.
We'll go somewhere, we'll takea lot of pictures oh, it's again
off the internet for him.
Speaker 2 (11:13):
You're fine, bring the you're probably measuring
tape on on tinderweb, you'll uh,you'll probably find some sort
of um diagram of how you canmake one.
Maybe if I'm in there, if I'min there, can I could he make it
in three weeks, do you knowwhat he'd be?
In his element.
Yeah, he's not gonna win,really that.
Speaker 1 (11:31):
That would be superb, do you?
Know what if you want to outpick a little I'm gonna say
they're about three, three and ahalf four foot tall, but
probably at a 15 foot long,something like I don't know
where you're gonna put that,though, when she's, when she's
done with it 15 foot well, I'msix foot playing an egg, right
(11:54):
okay?
yeah, they are long, um, and Iand I'm saying it could even be
longer than that, um I guess youcan make it so it can be folded
up and folded down from theedges um an impact on the, the
slidiness, then I don't knowyeah, I've never seen one of
them before, um, until recently,and they do look superb.
(12:16):
They just it's a bit like golf.
I've seen guys play it.
It's really really horrible,because it it's.
It sounds difficult to get it.
Speaker 2 (12:24):
Yeah, it's gotta be shiny the right.
You just stick to that boardpool table.
Speaker 1 (12:30):
But yeah, um a few, a few events happening then,
hopefully over the next, yeah,in the office go room.
Speaker 2 (12:37):
We've got a area where we can do some events and
invite people down.
Make it a little bit different.
Speaker 1 (12:44):
We'll uh, we'll do some online events again I think
and I keep harping on about ita lot on more.
So, linkedin this cost ofliving crisis, of which there is
nothing we've we've done itbefore it's costalized.
I'd like to go back and do somevery basic, maybe not advising
(13:10):
more, so maybe educationalpieces on money and almost the
the.
Do you think people care?
I do, I think they do, but Ithink they are frightened of
trying to understand, because Ithink everyone thinks A question
with anyone really cares.
Yeah, I think they do.
I think there's a lot of berryin the heads in the sand.
I think it is that 100%.
Speaker 2 (13:31):
I think people only come and look at that when it's
bloody crisis, I mean whenactually should be a bit of
forethought.
Speaker 1 (13:39):
I spoke to a guy a few weeks ago who runs coaching
and stuff like that and he saida lot of people are coming to me
when the event happens and theyneed help.
You know the reactor ratherthan product I think that's the
way people are taking the moneyat the moment is you know
they'll worry about it when ithappens.
Where People now are concernedthat they're not having the
(14:06):
holidays in the new car now,they're not worried about what
the future holds for them, and Ikind of get that.
But also, you know, the futureis going to come upon you very,
very quickly.
I'm in the UK 20 years, sinceJanuary, and it doesn't feel
like half a dozen years.
Speaker 2 (14:24):
Time flies as you get older, and that's some of the
things we need to talk aboutpeople planning for retirement
and planning for the future andwhat are they going to do?
Because I don't think peopleare saving enough.
But if you are not savingenough, there's going to be this
generation who are going tohave to work until they die,
unless they get a lot ofinheritance.
Speaker 1 (14:45):
But that's what happened for the history of
human beings up until the lastmaybe two, two and a half
generations.
So you know back in what 1940or people probably worked up
until they died.
Speaker 2 (14:59):
Yeah, but they didn't live that long either did they?
So they probably wouldn't gomuch past 50 odd anyway, were
they?
Speaker 1 (15:06):
But we are technically living longer.
Speaker 2 (15:08):
So people got to have things in place, because if
you're going to be livingthrough your 80s, 90s, if you
retire at 60 years of age andyou've been working since you
were 20.
You're going to be nearlyretired as long as you've been
bloody working.
So for people to think I canjust save 5% of my pension,
(15:30):
it'll be alright, just sell myhouse.
Who are you going to sell yourhouse to?
The other people who are tryingto sell the house?
Speaker 1 (15:37):
I'll wait until my parents die.
Well, you miserable bastard,you're not even thinking.
You know the emotions out of it.
You just want cash or theydon't like you.
Speaker 2 (15:45):
But the problem you're going to have, though, I
think, is going to begenerations, where generations
are going to have to refinancetheir houses to use in
retirement.
So therefore, there's going tobe no money from there for their
kids, because they can have touse their pension pots too.
They have the value of theirhouse via some sort of equity
release to pay for retirement.
Therefore, there won't be asmuch then for retirement.
Speaker 1 (16:05):
It's a vicious circle , you know people that are in
their 30s, maybe 40s, have seentheir parents finish at maybe 55
.
And gold plated inflationlinked pensions, which now no
longer exist.
A generation prior to thatpeople probably.
(16:28):
Life expectancy was probablymaybe 70s if you were looking.
So people retired maybe at 60.
They had 10 years.
Speaker 2 (16:35):
People still want to retire at 60 now.
Speaker 1 (16:38):
In fact, a lot of people want to go in their mid
50s and life expectancy islonger.
So, as you say, the time scaleof in retirement is gone from
maybe 10 to 12 years topotentially 36 years.
It's troubled and people arenot putting anything aside for
it and they're burying theirheads in their sand.
And that is down to naivety,misunderstanding, not educated
(17:03):
correctly.
Amazon, netflix, sky cinemas,you know All of these things.
That is our priority and peoplethink is the people up with the
Joneses.
They think it's the priority nowand they class that as a cost
of living crisis because some ofthem might have to Cancel sky
(17:23):
sports and sky cinema.
Speaker 2 (17:25):
It's all quite interesting though, because
Inflation hasn't really sloweddown as it.
I know obviously it's come downa little bit this month, but
I'm not convinced that's gonnalast and it's all a bit
artificial, isn't it thing?
Rob more said today said youshould take the inflationary
rate and Add 50%, because that'sthe 50% he said the government
are hiding that we don't reallysee is being spent.
(17:46):
So actually, inflation ishigher than it was.
I probably got to agree withthat.
But Even though they've beenbanging interest rates up,
people are still buying stuff.
People still is not reallyslowing anything down, and I've
never been a big fan of Wackinginterest rates up to try and
stem inflation, because I don'treally think it works.
(18:07):
I mean, I know you might haveeconomists out there who'll
argue with me, but People willstill spend if they want to.
I was sticking on credit cards.
Oh, you're not gonna stop it.
Speaker 1 (18:19):
We know somebody works in finance who is, you
know in between bits of hisopinion rent with a credit card.
Speaker 2 (18:26):
Yes, it's like.
Speaker 1 (18:28):
I spoke to a woman in the gym yesterday and her
daughter said her daughter andher son in future son-in-law are
Professionals and they can'tafford to buy now because they
said this thing that's happeningwith x amount of salaries and
all that.
You know she didn't get it withthe mortgage and you go.
I think they'll be living withus forever because they don't
want to.
The rent is Nearly two thousandpounds a month and you kind of
(18:51):
go.
Well, it must be a big place ifit's near or in around Cardiff.
But you know that's thegeneration that the rich in a
nice way of getting richer andthose that have cash Are buying
more and more property.
Speaker 2 (19:03):
Yeah, the the, the gap is widening, isn't it?
I mean, this is, the rich aredefinitely getting richer
because they can capitalize onwhat's going on.
Speaker 1 (19:13):
But you go out on Friday night or Saturday night
and find you love the same kindof age group that will like
ourselves when now, when youwere in your 20s and that.
But the restaurants will stillbe busy, the takeaways will
still be busy.
Speaker 2 (19:24):
I wonder if the clubs and bars are as busy as they
were.
Like the restaurants Definitelyare.
Because you try and get into arestaurant in Cardiff last
minute on a Friday or Saturdayyou ain't got hope and if you
can get in you've got to wonderwhether actually the food's any
good.
The rug, that's my yeah.
Speaker 1 (19:41):
Football is starting again in two or three weeks.
You know stadiums will be fullagain.
Rugby pre World Cup almost.
Speaker 2 (19:48):
Yeah, and then we got the World Cup.
Speaker 1 (19:49):
You're gonna watch in that people will go to the
World Cup and I know some ofthem are probably a bit like the
Lions tours will may have savedfor the last four years or so
For something like that.
So I get that.
But I know, I know on so manypeople that are just, you know,
packing up and going to Francefor August.
I know one.
One guy Said to me some weeksago in the gym.
(20:12):
He said I'm on camp on theweekend.
Okay, I said I'm Got a campervan, so where you going West
Wales, testing out sort of right?
I'm going to France for threeweeks in August, so you renting
over there?
No, no camper van.
And I went outside and saw andhe bought a VW camper van.
Oh, how much was that?
(20:33):
45?
And it nah 60.
And I said You've ever beencamping before?
There's no tour of sharingthose ones.
Speaker 2 (20:40):
They know, because they literally out the van, like
my van yeah even don't likecamper, but do you know what it
was?
Speaker 1 (20:45):
just I couldn't be bothered.
Speaker 2 (20:48):
To be even a hotel after the first few days.
I couldn't be bothered rentingone for a few days, just bought
it as you've been in there withno a con, 60 grand, the sun, the
sun in Europe, with a minutefor them, for them in a full for
.
Don't get me wrong.
I'd have one of those big likeWinnebago.
Things look like a bus withEverything in, but like it's my
sister-in-law, she's goes.
(21:08):
She's in France now, I think.
I think they've gone, they takethe car.
They got a proper caravan,though, and it's a big one as a
Double wheelbase one, great oneverything, but they're at the
three weeks down, I think nextsummer.
They tend to go for longer, youknow, but they love it, I mean.
No but he's quite a big caravanthough, and it's also got a big
warning with it.
Speaker 1 (21:29):
No, actually kind of no, I'm not bought it, I'm not.
No, no, that's what hotels werelike one of those.
Speaker 2 (21:34):
I would like one of those drive proper driving
camper vans with the proper beds, and I'm not there.
Speaker 1 (21:40):
The little ones might need to have a toilet and a
shower, like the lad that whencovert happened is the formula
one Driver who spent was a hunt200 grand on it and the sides
push out and they Some button.
Speaker 2 (21:51):
No, got a 1.2 million .
Speaker 1 (21:53):
It's another guy.
I can't remember who he was,but it's short and he lived in
that.
It's like maybe that.
But do you know what?
That's why they invented hotels.
Don't eat, you don't need to betraveling in things like that
small, condensed areas now.
So he says he's just gone on acruise.
Speaker 2 (22:09):
In a few weeks it's gonna say don't waste spoiling
if you go on the rooms in thewindows as well.
Speaker 1 (22:14):
No, we got two windows yeah your portal of you.
We got one portal and one fakeportal.
Speaker 2 (22:20):
You got balcony.
Speaker 1 (22:21):
No.
Speaker 2 (22:22):
No, you chose not to happen.
Speaker 1 (22:24):
The, the health and safety officer chose not to have
a balcony.
Speaker 2 (22:28):
Yes, I agree with actually, because Some of them
literally do we look over and Istrain the sea.
Speaker 1 (22:33):
Ah, what's the worst?
Speaker 2 (22:34):
again happen you drop , shouldn't see.
But you can't swim, can you?
Speaker 1 (22:40):
I wouldn't go in the balcony then.
Just to the window, lovelybalcony one of the two portals
might you guess, we blow yet theportals, and one of them is a
TV, so it shows the picture ofwhat it's like outside.
Really, what's the point inthat?
How much more is that gonnacost than a normal window?
Oh, that's right, so you got toturn it off at night, then I
(23:03):
have no idea.
I'll take some videos on Disneycruise.
Speaker 2 (23:08):
Yeah, yeah, I'll be funny, so so sold my left kidney
for now.
Well, yeah.
Speaker 1 (23:17):
I've all said it's a costal lifestyle crisis.
I'm not, I'm, I'm not ashamedto say that.
Speaker 2 (23:21):
I'm convinced this, this cruise is gonna have all
like the disney characters onthere.
Speaker 1 (23:25):
Yeah, I hope so, otherwise there's gonna be
somebody very, very upset in ourhouse.
Yeah and that ain't me, I'm.
I'm only imagining that there'sgoing to be loads of drugs on
there as well, because I can'timagine the parents being able
to get through four days ofnon-sleeping because of the
kids' excitement, without anysort of narcotics.
Speaker 2 (23:45):
Where am I?
Speaker 1 (23:46):
It's impossible, you know.
11 o'clock in the night kidsare going to be running around
the place, parents are going tobe absolutely exhausted and
there's no way off.
You can't, especially for us.
We've got no more balcony.
You can't jump.
There's no way out.
Speaker 2 (24:01):
Well, fair.
So what are people going toexpect from the new podcast?
Then?
New podcast for the carryfollow-on of the podcast.
Well, I have to change the nameas well.
Speaker 1 (24:10):
That's another story.
Speaker 2 (24:11):
That's another story.
We'll keep you updated on thatone.
Speaker 1 (24:16):
Yeah, I'd love to say something, but let's keep that
quiet.
I think there's a need forpeople, for I'm going to say
re-education, because I thinkpeople understand certain things
, but maybe just giving a bitback.
Speaker 2 (24:32):
Who's going to give a lot back?
We're going to give a lot backthis time, not more than we've
ever given.
Speaker 1 (24:35):
I'm going to try and all for free as well.
Speaker 2 (24:38):
I'm going to try and troll.
You're going to troll people.
Speaker 1 (24:41):
True, that's difficult to say as an Irish
person that's trolled throughany sort of papers, media and
then each week and just findsome crap that people are coming
out with just to kind of putthe world right in terms of what
you're saying You'll have to dothat because I don't watch the
news or read the newspapers, asyou well know.
(25:01):
Well, we'll talk about mereading newspapers.
But I kind of get a bitswitched off after about 9.7
seconds of reading stuff.
But that's for another podcast.
Speaker 2 (25:13):
Yeah, and we're going to have a couple of listeners
throw client questions at theend as well, some common things
that come up.
We're going to do that at theend of every podcast.
We'll actually do some today aswell.
Speaker 1 (25:22):
We might bring a few guests on as well.
Speaker 2 (25:24):
Oh, we definitely get some guests on.
I think we got a couplepotentially lined up and we'll
see where we can go with that.
I quite enjoy doing guests.
Speaker 1 (25:34):
Yeah, Do you know what I've realized when we've
gone on a few more of them?
When you start in 2020, itseemed what are we going to talk
about?
Are we going to be able to talkwhen you go on as a guest?
It's bloody horrible becausethey're in control, they dictate
where it goes to and they askthe questions, Whereas when
you're in control here, you canjust ask whatever you want to
people they can tell you to.
(25:55):
I'm not going to answer that.
You know, a bit like rememberone of the first few episodes we
had, Mr Haskell.
Speaker 2 (26:00):
Oh, yeah, yeah, Ask where you want.
It, just won't answer it.
Did you read?
Speaker 1 (26:03):
the questions.
James, Did I?
You know I'm not going toanswer the questions if I don't
want to, Okay.
Speaker 2 (26:10):
I don't think as many questions you won't answer,
though.
No, that's very true, infairness.
But yeah, so happy days.
Let's just roll on with thequestion then.
Shall we Do.
Speaker 1 (26:20):
I have a question.
Do I have a got two One?
All right, I hope you're notasking me to answer them.
It was in relation to financeand probably useless on it.
Speaker 2 (26:29):
Right.
So this is one that I've seen alot of forums kind of knocking
around right Property forums,anything to do with property or
finance and stuff where membersof the public are on there.
And you see this one Cansomebody who's a broker give me
some nice bite?
A let rate search are availableat the moment.
There's a pretty simple answerthat no, it's not that
(26:52):
straightforward.
People actually do go on andsay can I just give me some?
Could someone give me an ideaof what rates I'm going to be
having?
No, it doesn't work like that.
Speaker 1 (27:02):
Yeah, between five and 25%.
Speaker 2 (27:05):
But yeah, it could be anywhere from two to whatever
percent, depends on yourcircumstances.
Where you're buying, you'rebuying, you know commercial bite
a let.
Is it.
Family bite a let.
Is it vital?
Is it no?
By what is a HMO?
You know, and do you work,don't you work?
Speaker 1 (27:23):
It's 3.4%.
No, no, wait a minute, they'vejust changed 3.95.
Speaker 2 (27:27):
Yeah, well, I suppose , like the moment, wait a minute
.
Speaker 1 (27:28):
No, it's 4.7.
Speaker 2 (27:29):
No no, no.
So I think there's a couple ofthings with that.
Really, I would probably say isthat was 5.7.
Yeah, exactly One is you can'task questions like on a general
form, because if anyone givesyou an answer it's never going
to be right because they don'tknow your circumstances.
But you can't get an answerfrom down the pub.
(27:51):
You certainly shouldn't get ananswer off just the internet.
You need to speak to somebody.
I wouldn't say go and speak tothe banks, because they're very
limited and actually if you'relooking to buy a, let they don't
really do them.
Anyway, it's very specialist.
You can speak to a professionalwho can give you those answers.
Speaker 1 (28:06):
Do you know?
What does it impact on?
You know, when you go on to aSantander, lloyd's, nat West,
any sort of thing, it shows howmuch can you borrow or work out
your rate, and it allows you toput in the I'm borrowing this,
it's over 25 years and theinterest you can type in the
interest rate.
So aren't people going.
(28:27):
Then, if you can get me a dealI've just looked online and I've
got 50 grand deposit that Iwanted over 20 odd years Can you
get me a deal where I'm paying?
It's going to be 800 quid,that's 3.95%.
I can afford that.
Can you go and find me?
That doesn't work like that butbut.
Speaker 2 (28:43):
But those calculators are, but the funny thing is
like that's the problem.
So if you go on to somebody'scalculators, right, now we've
had this numerous times andclients will come to you and say
I found this rate on manysavings export, whatever it
might be, can you, can you getthis rate?
And you're like, yeah, we canget our rate.
And you say, okay, so do you?
(29:03):
Do you live in Mansfield?
No, no, I live in Cardiff.
Okay, well, that's onlyavailable if you live in
Mansfield or in a certainpostcode area and they might
come with another one.
Okay, that's great.
Do you private bank with Coots?
No, no, I don't.
It's not available to do that.
The problem is these websitesare generic.
I would say on 99.99% ofoccasions people have ever come
(29:26):
to me with those rates theyfound on the internet.
They're always the lowest ones.
They're not exactly what theythink they are.
And the thing is, even I've hadpeople come me with discount
rates.
Or they've got this rate, it'sit's a 3.45% fixed.
No, it's nice, discounted was Imean, what is discount on some
of the rates?
So they more for you can go upand down, and they're like, oh
right, I thought it said fixed.
(29:47):
No, it's fixed anyway.
Speaker 1 (29:49):
It actually doesn't really see anything of what what
it is, and that's the dangerand I think then you're not good
enough because you can't getthe same deal as you they can
get as a generic thing online.
Speaker 2 (29:57):
She's frustrated, that's.
The problem is that there's somuch information on the internet
which is Not accurate.
True true.
Question two.
Speaker 1 (30:08):
Bum, bum, bum.
It's like mastermind.
Speaker 2 (30:12):
Now I see I've been asked this many times Should I
paint on my work pension?
Speaker 1 (30:19):
No, absolutely not.
Put it all in crypto.
That's not advice and I'm beingwhat's the word I'm looking for
?
Sarcastic, sarcastic.
Yeah, should he pay into yourworks pension?
Well, put it this way if youpay 80 pounds in, potentially or
let's say a hundred pounds, andyour standard rate taxpayer,
(30:40):
the government give you an extra25 quid on top of that.
And then, on top of that, yourboss, your employer, might add
in money.
Let's say they put anotherhundred quid in and so, all of a
sudden, before even any of thisgrowth or interest rate, you
put a hundred quid in and nowit's worth 225 pounds.
Now go and find anything onthis planet that will give you
(31:03):
that sort of uplift immediately.
And then you are.
You impact on the effect ofcompound interest over 10, 20,
30 odd years.
It is phenomenal.
So, yes, you should pay intoyour pension how much, as much
as you can bloody afford, and abit more, and as much at least
(31:24):
that your boss can match,because it's free Money.
Stop worrying about you know Ican't access it.
Access it until Ex-amount ofyears, doesn't matter.
Still your money.
What have I died?
It's still your money.
It'll go to the family is atax-free lump sum.
I want to spend another money.
No, it's a cost of a lifestylecrisis.
(31:45):
You need to plan for the future.
There's no excuses, just get itdone.
I suppose that let's not evengo into the.
Where shall I invest it?
Speaker 2 (31:54):
Oh, we'll do that.
Another upside I think we'llactually cover off this in
another kind of podcast.
We'll talk about Workpaidpensions and actually how we
think you should actually investin those, because I think,
that's a problem, because it's,but you know.
But what you don't do is just gowith the default option that
they're giving you.
There's a lot more you can kindof do that, but you've got to
do it because Effectively youcould have a good hundred
(32:14):
percent uplift straight awayfrom day one, while you're
putting in by what your employerputs in and where you get from
tax relief.
Speaker 1 (32:20):
You know, let's come come back to this in another in
a few weeks time.
Default is lifestyle, lifestylestrategy, which defaults as you
put a date when do you want toretire?
60, what age, you know?
55, I don't want any risk.
It automatically puts it intocash or bonds, and bonds in some
forms have gone down by 50% inthe last three years.
(32:40):
So you've lost half of yourmoney in a time when you you are
looking to start drawing anincome in the future.
So this concept of risk is justtotally, totally Upside down.
People don't understand it.
They don't understand risk andthey understand Most words of
two meanings.
You know, as in I don't know.
Let's say, give me an example.
I can't think of one right nowand I'm lost.
(33:04):
But some words will have adouble meaning, even though they
sound the same.
They're spelled the same.
But risk everyone just sees asone thing loss of money, and
high risk is the high of theworst thing and low risk is is
you never lose?
That's, that's gone out thewindow.
People need to be educatedcorrectly, but yeah we come back
to that another day.
Speaker 2 (33:23):
Yeah.
Speaker 1 (33:24):
Your expansion.
Speaker 2 (33:25):
Yeah, not pain to it and do not do what you hear a
lot of people doing.
I'm not gonna start now, I'mgonna start it next year because
I got a few things I want topay off.
You're never gonna pay them offto start and you're never gonna
start that pension.
Before you know, at five, sixyears down the line, you've lost
it on that couple hundred quida month you would have had
compounded.
You know you've.
Speaker 1 (33:44):
You've lost it on a lot of money if somebody sends
me in the bank statement, I betyou I can find 60 quid a month
on savings them.
You know Netflix, you neverused that.
Amazon Prime you've got two ofthem in the house.
You know I'm pet pet cover.
Your pet died last year.
Phone insurance that youalready have.
Speaker 2 (34:03):
We were that's another episode.
That is the amount of peoplewho pay pet insurance but don't
insure themselves or theirfamily or their kids
Unbelievable I.
Speaker 1 (34:12):
Think we've probably offended as many of the
listeners as we could in thefirst episode.
It's a good effort.
Speaker 2 (34:19):
Yeah, we're trying well, we probably will do more
of that, but people need to wakeup and hear these things.
Speaker 1 (34:26):
So we're back.
Speaker 2 (34:29):
Back together.
Speaker 1 (34:31):
That was loud, yeah, yeah.
Speaker 2 (34:35):
So it's good to be back actually.
Yes, and we don't have not, Idon't talk to you every day
anyway.
Speaker 1 (34:40):
And we don't have to do the YouTube version at the
moment.
So, people, people can't see my, my pinstriped three people
can't see the fact.
Speaker 2 (34:47):
I spilled food down the front of my t-shirt today as
well and with my daughter witha greasy fingers has greased up
my t-shirt, so didn't realizethis morning till I actually
going to work.
But most people don't know hisbike.
Speaker 1 (34:58):
I can't until next week, stay safe, spend loads of
money, feel happy Investingcrypto and all those things that
people just don't listen toanyone else about.
Speaker 2 (35:09):
Don't do any of those again.
Speaker 1 (35:10):
Yes, that was taking the mickey.
And just like that we're back.
Speaker 2 (00:13):
It's been a while.
Speaker 1 (00:15):
What date?
Speaker 2 (00:17):
13th of April, the last one went out, live, live
went out.
Speaker 1 (00:22):
I've done my time.
I'm back out on remand.
Speaker 2 (00:26):
Can't say that you wouldn't be back out on remand.
Speaker 1 (00:30):
You'd go on remand, sorry, yeah, yeah.
Speaker 2 (00:33):
You'd be watching those police, 24-7 in custody.
You're new again.
Speaker 1 (00:36):
Absolutely Loads them Along with Bargain Brits,
bargain Loving Brits abroad.
Speaker 2 (00:42):
I like that.
Bargain Loving Brits by theseason.
Bargain Loving Brits abroad.
They live in the caravans outthere.
Speaker 1 (00:49):
And the ones that look to go on by the houses
abroad.
You know, mary, and Don.
Speaker 2 (00:53):
There's a new one of those on at the moment.
It's a family business have youseen that yes.
Speaker 1 (00:59):
Mary and Don are looking for a five bed, four
bath with, you know, overlookinga sea view, and they've got 87
and a half thousand pounds tospend.
Speaker 2 (01:10):
Yeah, they want to write in the prime of Marbe, the
one on the Marbe, what I'mtrying to work out is do you
apply for these?
Speaker 1 (01:19):
Do channel four or whoever Send you over there and
put you up?
And then, because no one everbuys, well, we all be paid for.
So have you had a chance tothink about this?
Yeah, we love House Three andwe're going to go back now and
we're going to speak to thefamily.
What do you need to speak tothem from?
I've just got a free holidayfor four days out of here.
Speaker 2 (01:37):
I'm going to know that many of those actually go
through.
They should do one of thosefollow up programs like they do
with the Dragons Den, which onesactually went anyway,
absolutely, because we know theydon't all go to.
We, we know that.
We know that very well.
And now Not that we've been onDragons Den.
Speaker 1 (01:51):
Now, since everyone that voted out of Brexit, isn't
the new changes happening?
Well, it's a 90 day and 180rolling now that you can only
live in places like that and youhave to be very careful.
And from September, is it?
You're going to have to startpaying a visa to go to these
(02:11):
countries Really?
Or September 24 for not Offers?
Good England, okay, anyone, any, any, any non European people
will have to pay a European taxto get into Europe.
Speaker 2 (02:30):
So we have to pay to actually get into Europe.
Speaker 1 (02:32):
You go to Spain next year, you're paying.
I think it's a seven quid a pop, but it's an online
registration and all that.
It's 28 quid.
Speaker 2 (02:40):
So it's literally like going inside the congestion
zone in London.
Now is it?
You got to pay.
Speaker 1 (02:43):
Yeah.
Speaker 2 (02:44):
Well, actually everywhere in it.
You got to pay a new port a new.
Bristol bath, new ports.
I don't want to go there.
Anyway, I can say that's fromthere.
Speaker 1 (02:56):
It's been a while since we've been Well 33.
How?
Speaker 2 (02:58):
long is that now May?
Speaker 1 (02:59):
June, July.
Speaker 2 (03:01):
Well, well, we back for good though.
Speaker 1 (03:07):
This is where we put the bit of take.
Speaker 2 (03:08):
The longest probably break we've had.
Speaker 1 (03:14):
In three years.
It was about it was 2020.
Speaker 2 (03:17):
Yeah, we started April 20th, april 2020.
We started, yeah, yeah.
Speaker 1 (03:25):
I only know that because I don't like it it's not
couple of episodes.
Speaker 2 (03:29):
Yeah, be someone on that.
One cross all podcasts well.
I will.
We are back and it's gonna be alittle bit more the same, but
we're gonna give away a lot morestuff this time, a lot more
what's inside our brains, what'sinside our heads about business
(03:50):
is the main financial planning.
Speaker 1 (03:52):
You said money the last day, didn't somebody?
Speaker 2 (03:55):
say you were rugby.
Speaker 1 (03:56):
You're one of the two guys that do the podcast.
You had a wedding the last day,weren't you?
Yeah, and somebody mentioned it.
Yeah, people listen peoplelisten thank you for the three
things recently.
Speaker 2 (04:05):
Thank you for three people.
I mean a few things recentlywhere they've kind of said you
bring the podcast back, and so Ithought let's get the band back
together yeah, absolutely it'sa small band, it's a two piece
there's a one-man band as wellwe've done a few solo ones on me
yeah, you probably more than meyes, yes, don't.
Speaker 1 (04:26):
You don't enjoy them.
There isn't as much fun.
You know it's a monologue andpeople, people don't even want
to listen to me.
You know, here, in a jointepisode, in a joint episode, how
they put up with me and I'm ona well, he's never listen to us
talk about rugby.
Speaker 2 (04:37):
This time around, yeah, because we're not doing
rugby.
I'll be back soon because wegot games coming up now in the
summer next, next week, I think.
Speaker 1 (04:45):
I don't want to watch it?
Would you go to France if yougot a ticket?
Would you go to France for agame, all expenses?
Speaker 2 (04:52):
no, after what you just told me, now you have to
pay to get in.
Speaker 1 (04:54):
I think it's.
I think it's next year oh, isit okay I know, I know the good,
bad and rugby boys are doing acruise.
How much fun would that be.
Four or five days, two gamesbeen taken in oh yeah, with all
the booze and beer.
Yeah, because, because we do alot of drinking these days
(05:15):
excuse me, can I, can I have avery diluted Chandi please?
what he told you totally but itthat would be a lot of fun.
It isn't cheap.
I saw that the numbers, but Idon't know if they is a
commandeering, a full cruise.
Speaker 2 (05:28):
That would be a lot of people well, I can't imagine
they're on one of those pedalsno, I can imagine on a cruise
with a load of over over 50s ontheir retiree holidays.
So half is for them, half isfor the good, the bad and the
right.
Because you imagine that howschool the speedos?
Speaker 1 (05:47):
they've done some very good ads for it and they've
done the the Titanic and thatand you've got the two boys you
know in the the songs now.
But it would be, it would belots of fun going on and I put
just see how many will actuallygo on.
Speaker 2 (05:59):
That it'd be interesting.
I think it's like a marathon.
Speaker 1 (06:01):
I think you have to do a lot of training in advance
for that and I have no trainingdone, I think I think I'd be,
you know, substitute one night,and I'd be right, but after that
I'd have stayed in bed.
But and two games involved inthat, but I don't know what
games there are.
Speaker 2 (06:15):
But so what's been happening, then?
Speaker 1 (06:18):
you've been playing a lot of golf, haven't you any
better than.
I played golf this morning inthe rain and now this afternoon
it is a bright.
Golf is a game of it's it's.
70 emotions emotions, it's 72.
(06:38):
Well, not for me it's a hundredand a hundred games in itself,
because each shot is a game andyou can't let emotion get the
better of you.
And I give you an example.
Today I was speaking, I wasplaying with a guy we know, josh
and I was pouring down and mythree would.
I pinged it and it went fromright to left.
(07:01):
It bounced and waited on thefairway.
I measured it, it was lovely,it was 247 yards.
Granted, it was downhill.
I'm strutting down like apeacock.
I'm going.
Oh, you know, I am the bestgolf from the world.
Now I've got 200 and somethinglike 11 yards to go on the par 5
.
I've already hit a 247.
(07:22):
I hit shot 2, shot 3, shot 4.
So remember, I have 211 yardsto go on my fifth shot.
I've got 207 years ago.
Speaker 2 (07:34):
So, michael, that is, you can get in a trio.
Speaker 1 (07:37):
So you're just.
I could not hit it one shottoday.
Now, if anyone plays golf, trythis.
I've never done it before.
I try to knock the spots offthe golf ball today.
You know, when you try hard andI know I shouldn't have so
smooth, smooth as fast yeah, andI hit the ball.
Don't know how I hit it.
The club followed through justan an arc, exactly as you would
(07:59):
normally, and the ball hit myleft shin, which is 90 degrees
away, and I'm I've.
No, that's how the.
So when you ask, how is thegolf going?
Shockingly bad, but it doesn'tmatter.
It poured rain, I got soaked,but I'm out golfing.
Speaker 2 (08:18):
I can't play in the wet, I must full-on fear weather
player it was superb.
Speaker 1 (08:23):
It was superb.
As you know, I've just come offa call there getting an invite
for tomorrow and I just can't doit.
I'm getting the bug now.
I'm not playing well at all,but I don't care.
But there's some good shots.
But yeah, summertime superb.
Winter time I'm not.
I'm not a fan of being wrappedup to the end degree.
(08:43):
Your, your, your.
Movement is restricted, um so,no interest.
Speaker 2 (08:48):
Like me, when we played the other day like with
that water who go down, whichwasn't a coffin, I couldn't move
my arms properly in it to swingthe thing.
Speaker 1 (08:57):
So you've got to have the right kit as well the
normal to do at the moment is alot of this body weight exercise
, and I was of the opinionbefore yeah, this is, this is so
easy, you know.
Do you know?
10 of these, 15 of these, 12 ofthese, take a 30 second break.
It's not like lifting weight,oh my lord.
It is so bloody hard to do, butit's lots of fun.
(09:20):
Got a.
I've got 1.3 kilos off in threeweeks my shoulders as well I'm
trying to put.
I want to put some naan, nottake it off well, that's easy.
Speaker 2 (09:29):
I can help you with that.
Have some of mine so can johnnygreg across the road yeah,
that's the problem, and luckilywe don't go there, so we moved
offices moved offices nice big,bright, cold um offices.
Well, it's all right in thisweather, don't it?
It's cold, it doesn't get like,don't need a acorn, it's nice,
(09:49):
um nice, but it's not told bythe carpet, it's gonna.
It's gonna bug me for the restof the year we'll have to put
some picture on social media.
Yeah, we I think we're gonna putsome newspaper down over the um
, the stains on the carpet whichis here, from where we got it
from, it was an hour carpet.
It's what came with thebuilding.
We've managed to decorate it.
We're probably at about 90%decoration there.
We're just waiting for ourbranding on the walls to be
(10:14):
sorted, aren't we?
Speaker 1 (10:15):
yeah, it's gonna.
It's gonna look nice.
It is a lot bigger, um we'regonna do some events here,
aren't we?
Speaker 2 (10:21):
yes shame on the pool table, the swimming pool, the
spa.
It's cozy, I dartboard.
Speaker 1 (10:29):
I'm thinking I was speaking to joff today and and
in between the bad golf shots hementioned.
Um, there's a new placing card.
If opened, remember jjb onqueen street yes, it's got.
Speaker 2 (10:40):
It's got darts, shuffleboard, all that stuff and
that's shuffleboard.
Speaker 1 (10:43):
That's what he was trying to explain.
I went yeah, I've looked atthem.
He said they're brilliant.
Speaker 2 (10:46):
I said they're shuffleboard, the one we played
in that one underground six.
Speaker 1 (10:50):
I said six and a half grand for it and you gotta for
a shuffleboard.
Speaker 2 (10:54):
Shuffleboard, but you can make one.
I think my dad could make oneabsolutely he gives out.
Yeah, there you go.
Speaker 1 (11:01):
Yeah, it's the oil that you the cost of fortune as
well but he can do that thereyou go.
Yeah, we'll.
We'll go somewhere um.
We'll have an event on.
We'll go somewhere, we'll takea lot of pictures oh, it's again
off the internet for him.
Speaker 2 (11:13):
You're fine, bring the you're probably measuring
tape on on tinderweb, you'll uh,you'll probably find some sort
of um diagram of how you canmake one.
Maybe if I'm in there, if I'min there, can I could he make it
in three weeks, do you knowwhat he'd be?
In his element.
Yeah, he's not gonna win,really that.
Speaker 1 (11:31):
That would be superb, do you?
Know what if you want to outpick a little I'm gonna say
they're about three, three and ahalf four foot tall, but
probably at a 15 foot long,something like I don't know
where you're gonna put that,though, when she's, when she's
done with it 15 foot well, I'msix foot playing an egg, right
(11:54):
okay?
yeah, they are long, um, and Iand I'm saying it could even be
longer than that, um I guess youcan make it so it can be folded
up and folded down from theedges um an impact on the, the
slidiness, then I don't knowyeah, I've never seen one of
them before, um, until recently,and they do look superb.
(12:16):
They just it's a bit like golf.
I've seen guys play it.
It's really really horrible,because it it's.
It sounds difficult to get it.
Speaker 2 (12:24):
Yeah, it's gotta be shiny the right.
You just stick to that boardpool table.
Speaker 1 (12:30):
But yeah, um a few, a few events happening then,
hopefully over the next, yeah,in the office go room.
Speaker 2 (12:37):
We've got a area where we can do some events and
invite people down.
Make it a little bit different.
Speaker 1 (12:44):
We'll uh, we'll do some online events again I think
and I keep harping on about ita lot on more.
So, linkedin this cost ofliving crisis, of which there is
nothing we've we've done itbefore it's costalized.
I'd like to go back and do somevery basic, maybe not advising
(13:10):
more, so maybe educationalpieces on money and almost the
the.
Do you think people care?
I do, I think they do, but Ithink they are frightened of
trying to understand, because Ithink everyone thinks A question
with anyone really cares.
Yeah, I think they do.
I think there's a lot of berryin the heads in the sand.
I think it is that 100%.
Speaker 2 (13:31):
I think people only come and look at that when it's
bloody crisis, I mean whenactually should be a bit of
forethought.
Speaker 1 (13:39):
I spoke to a guy a few weeks ago who runs coaching
and stuff like that and he saida lot of people are coming to me
when the event happens and theyneed help.
You know the reactor ratherthan product I think that's the
way people are taking the moneyat the moment is you know
they'll worry about it when ithappens.
Where People now are concernedthat they're not having the
(14:06):
holidays in the new car now,they're not worried about what
the future holds for them, and Ikind of get that.
But also, you know, the futureis going to come upon you very,
very quickly.
I'm in the UK 20 years, sinceJanuary, and it doesn't feel
like half a dozen years.
Speaker 2 (14:24):
Time flies as you get older, and that's some of the
things we need to talk aboutpeople planning for retirement
and planning for the future andwhat are they going to do?
Because I don't think peopleare saving enough.
But if you are not savingenough, there's going to be this
generation who are going tohave to work until they die,
unless they get a lot ofinheritance.
Speaker 1 (14:45):
But that's what happened for the history of
human beings up until the lastmaybe two, two and a half
generations.
So you know back in what 1940or people probably worked up
until they died.
Speaker 2 (14:59):
Yeah, but they didn't live that long either did they?
So they probably wouldn't gomuch past 50 odd anyway, were
they?
Speaker 1 (15:06):
But we are technically living longer.
Speaker 2 (15:08):
So people got to have things in place, because if
you're going to be livingthrough your 80s, 90s, if you
retire at 60 years of age andyou've been working since you
were 20.
You're going to be nearlyretired as long as you've been
bloody working.
So for people to think I canjust save 5% of my pension,
(15:30):
it'll be alright, just sell myhouse.
Who are you going to sell yourhouse to?
The other people who are tryingto sell the house?
Speaker 1 (15:37):
I'll wait until my parents die.
Well, you miserable bastard,you're not even thinking.
You know the emotions out of it.
You just want cash or theydon't like you.
Speaker 2 (15:45):
But the problem you're going to have, though, I
think, is going to begenerations, where generations
are going to have to refinancetheir houses to use in
retirement.
So therefore, there's going tobe no money from there for their
kids, because they can have touse their pension pots too.
They have the value of theirhouse via some sort of equity
release to pay for retirement.
Therefore, there won't be asmuch then for retirement.
Speaker 1 (16:05):
It's a vicious circle , you know people that are in
their 30s, maybe 40s, have seentheir parents finish at maybe 55
.
And gold plated inflationlinked pensions, which now no
longer exist.
A generation prior to thatpeople probably.
(16:28):
Life expectancy was probablymaybe 70s if you were looking.
So people retired maybe at 60.
They had 10 years.
Speaker 2 (16:35):
People still want to retire at 60 now.
Speaker 1 (16:38):
In fact, a lot of people want to go in their mid
50s and life expectancy islonger.
So, as you say, the time scaleof in retirement is gone from
maybe 10 to 12 years topotentially 36 years.
It's troubled and people arenot putting anything aside for
it and they're burying theirheads in their sand.
And that is down to naivety,misunderstanding, not educated
(17:03):
correctly.
Amazon, netflix, sky cinemas,you know All of these things.
That is our priority and peoplethink is the people up with the
Joneses.
They think it's the priority nowand they class that as a cost
of living crisis because some ofthem might have to Cancel sky
(17:23):
sports and sky cinema.
Speaker 2 (17:25):
It's all quite interesting though, because
Inflation hasn't really sloweddown as it.
I know obviously it's come downa little bit this month, but
I'm not convinced that's gonnalast and it's all a bit
artificial, isn't it thing?
Rob more said today said youshould take the inflationary
rate and Add 50%, because that'sthe 50% he said the government
are hiding that we don't reallysee is being spent.
(17:46):
So actually, inflation ishigher than it was.
I probably got to agree withthat.
But Even though they've beenbanging interest rates up,
people are still buying stuff.
People still is not reallyslowing anything down, and I've
never been a big fan of Wackinginterest rates up to try and
stem inflation, because I don'treally think it works.
(18:07):
I mean, I know you might haveeconomists out there who'll
argue with me, but People willstill spend if they want to.
I was sticking on credit cards.
Oh, you're not gonna stop it.
Speaker 1 (18:19):
We know somebody works in finance who is, you
know in between bits of hisopinion rent with a credit card.
Speaker 2 (18:26):
Yes, it's like.
Speaker 1 (18:28):
I spoke to a woman in the gym yesterday and her
daughter said her daughter andher son in future son-in-law are
Professionals and they can'tafford to buy now because they
said this thing that's happeningwith x amount of salaries and
all that.
You know she didn't get it withthe mortgage and you go.
I think they'll be living withus forever because they don't
want to.
The rent is Nearly two thousandpounds a month and you kind of
(18:51):
go.
Well, it must be a big place ifit's near or in around Cardiff.
But you know that's thegeneration that the rich in a
nice way of getting richer andthose that have cash Are buying
more and more property.
Speaker 2 (19:03):
Yeah, the the, the gap is widening, isn't it?
I mean, this is, the rich aredefinitely getting richer
because they can capitalize onwhat's going on.
Speaker 1 (19:13):
But you go out on Friday night or Saturday night
and find you love the same kindof age group that will like
ourselves when now, when youwere in your 20s and that.
But the restaurants will stillbe busy, the takeaways will
still be busy.
Speaker 2 (19:24):
I wonder if the clubs and bars are as busy as they
were.
Like the restaurants Definitelyare.
Because you try and get into arestaurant in Cardiff last
minute on a Friday or Saturdayyou ain't got hope and if you
can get in you've got to wonderwhether actually the food's any
good.
The rug, that's my yeah.
Speaker 1 (19:41):
Football is starting again in two or three weeks.
You know stadiums will be fullagain.
Rugby pre World Cup almost.
Speaker 2 (19:48):
Yeah, and then we got the World Cup.
Speaker 1 (19:49):
You're gonna watch in that people will go to the
World Cup and I know some ofthem are probably a bit like the
Lions tours will may have savedfor the last four years or so
For something like that.
So I get that.
But I know, I know on so manypeople that are just, you know,
packing up and going to Francefor August.
I know one.
One guy Said to me some weeksago in the gym.
(20:12):
He said I'm on camp on theweekend.
Okay, I said I'm Got a campervan, so where you going West
Wales, testing out sort of right?
I'm going to France for threeweeks in August, so you renting
over there?
No, no camper van.
And I went outside and saw andhe bought a VW camper van.
Oh, how much was that?
(20:33):
45?
And it nah 60.
And I said You've ever beencamping before?
There's no tour of sharingthose ones.
Speaker 2 (20:40):
They know, because they literally out the van, like
my van yeah even don't likecamper, but do you know what it
was?
Speaker 1 (20:45):
just I couldn't be bothered.
Speaker 2 (20:48):
To be even a hotel after the first few days.
I couldn't be bothered rentingone for a few days, just bought
it as you've been in there withno a con, 60 grand, the sun, the
sun in Europe, with a minutefor them, for them in a full for
.
Don't get me wrong.
I'd have one of those big likeWinnebago.
Things look like a bus withEverything in, but like it's my
sister-in-law, she's goes.
(21:08):
She's in France now, I think.
I think they've gone, they takethe car.
They got a proper caravan,though, and it's a big one as a
Double wheelbase one, great oneverything, but they're at the
three weeks down, I think nextsummer.
They tend to go for longer, youknow, but they love it, I mean.
No but he's quite a big caravanthough, and it's also got a big
warning with it.
Speaker 1 (21:29):
No, actually kind of no, I'm not bought it, I'm not.
No, no, that's what hotels werelike one of those.
Speaker 2 (21:34):
I would like one of those drive proper driving
camper vans with the proper beds, and I'm not there.
Speaker 1 (21:40):
The little ones might need to have a toilet and a
shower, like the lad that whencovert happened is the formula
one Driver who spent was a hunt200 grand on it and the sides
push out and they Some button.
Speaker 2 (21:51):
No, got a 1.2 million .
Speaker 1 (21:53):
It's another guy.
I can't remember who he was,but it's short and he lived in
that.
It's like maybe that.
But do you know what?
That's why they invented hotels.
Don't eat, you don't need to betraveling in things like that
small, condensed areas now.
So he says he's just gone on acruise.
Speaker 2 (22:09):
In a few weeks it's gonna say don't waste spoiling
if you go on the rooms in thewindows as well.
Speaker 1 (22:14):
No, we got two windows yeah your portal of you.
We got one portal and one fakeportal.
Speaker 2 (22:20):
You got balcony.
Speaker 1 (22:21):
No.
Speaker 2 (22:22):
No, you chose not to happen.
Speaker 1 (22:24):
The, the health and safety officer chose not to have
a balcony.
Speaker 2 (22:28):
Yes, I agree with actually, because Some of them
literally do we look over and Istrain the sea.
Speaker 1 (22:33):
Ah, what's the worst?
Speaker 2 (22:34):
again happen you drop , shouldn't see.
But you can't swim, can you?
Speaker 1 (22:40):
I wouldn't go in the balcony then.
Just to the window, lovelybalcony one of the two portals
might you guess, we blow yet theportals, and one of them is a
TV, so it shows the picture ofwhat it's like outside.
Really, what's the point inthat?
How much more is that gonnacost than a normal window?
Oh, that's right, so you got toturn it off at night, then I
(23:03):
have no idea.
I'll take some videos on Disneycruise.
Speaker 2 (23:08):
Yeah, yeah, I'll be funny, so so sold my left kidney
for now.
Well, yeah.
Speaker 1 (23:17):
I've all said it's a costal lifestyle crisis.
I'm not, I'm, I'm not ashamedto say that.
Speaker 2 (23:21):
I'm convinced this, this cruise is gonna have all
like the disney characters onthere.
Speaker 1 (23:25):
Yeah, I hope so, otherwise there's gonna be
somebody very, very upset in ourhouse.
Yeah and that ain't me, I'm.
I'm only imagining that there'sgoing to be loads of drugs on
there as well, because I can'timagine the parents being able
to get through four days ofnon-sleeping because of the
kids' excitement, without anysort of narcotics.
Speaker 2 (23:45):
Where am I?
Speaker 1 (23:46):
It's impossible, you know.
11 o'clock in the night kidsare going to be running around
the place, parents are going tobe absolutely exhausted and
there's no way off.
You can't, especially for us.
We've got no more balcony.
You can't jump.
There's no way out.
Speaker 2 (24:01):
Well, fair.
So what are people going toexpect from the new podcast?
Then?
New podcast for the carryfollow-on of the podcast.
Well, I have to change the nameas well.
Speaker 1 (24:10):
That's another story.
Speaker 2 (24:11):
That's another story.
We'll keep you updated on thatone.
Speaker 1 (24:16):
Yeah, I'd love to say something, but let's keep that
quiet.
I think there's a need forpeople, for I'm going to say
re-education, because I thinkpeople understand certain things
, but maybe just giving a bitback.
Speaker 2 (24:32):
Who's going to give a lot back?
We're going to give a lot backthis time, not more than we've
ever given.
Speaker 1 (24:35):
I'm going to try and all for free as well.
Speaker 2 (24:38):
I'm going to try and troll.
You're going to troll people.
Speaker 1 (24:41):
True, that's difficult to say as an Irish
person that's trolled throughany sort of papers, media and
then each week and just findsome crap that people are coming
out with just to kind of putthe world right in terms of what
you're saying You'll have to dothat because I don't watch the
news or read the newspapers, asyou well know.
(25:01):
Well, we'll talk about mereading newspapers.
But I kind of get a bitswitched off after about 9.7
seconds of reading stuff.
But that's for another podcast.
Speaker 2 (25:13):
Yeah, and we're going to have a couple of listeners
throw client questions at theend as well, some common things
that come up.
We're going to do that at theend of every podcast.
We'll actually do some today aswell.
Speaker 1 (25:22):
We might bring a few guests on as well.
Speaker 2 (25:24):
Oh, we definitely get some guests on.
I think we got a couplepotentially lined up and we'll
see where we can go with that.
I quite enjoy doing guests.
Speaker 1 (25:34):
Yeah, Do you know what I've realized when we've
gone on a few more of them?
When you start in 2020, itseemed what are we going to talk
about?
Are we going to be able to talkwhen you go on as a guest?
It's bloody horrible becausethey're in control, they dictate
where it goes to and they askthe questions, Whereas when
you're in control here, you canjust ask whatever you want to
people they can tell you to.
(25:55):
I'm not going to answer that.
You know, a bit like rememberone of the first few episodes we
had, Mr Haskell.
Speaker 2 (26:00):
Oh, yeah, yeah, Ask where you want.
It, just won't answer it.
Did you read?
Speaker 1 (26:03):
the questions.
James, Did I?
You know I'm not going toanswer the questions if I don't
want to, Okay.
Speaker 2 (26:10):
I don't think as many questions you won't answer,
though.
No, that's very true, infairness.
But yeah, so happy days.
Let's just roll on with thequestion then.
Shall we Do.
Speaker 1 (26:20):
I have a question.
Do I have a got two One?
All right, I hope you're notasking me to answer them.
It was in relation to financeand probably useless on it.
Speaker 2 (26:29):
Right.
So this is one that I've seen alot of forums kind of knocking
around right Property forums,anything to do with property or
finance and stuff where membersof the public are on there.
And you see this one Cansomebody who's a broker give me
some nice bite?
A let rate search are availableat the moment.
There's a pretty simple answerthat no, it's not that
(26:52):
straightforward.
People actually do go on andsay can I just give me some?
Could someone give me an ideaof what rates I'm going to be
having?
No, it doesn't work like that.
Speaker 1 (27:02):
Yeah, between five and 25%.
Speaker 2 (27:05):
But yeah, it could be anywhere from two to whatever
percent, depends on yourcircumstances.
Where you're buying, you'rebuying, you know commercial bite
a let.
Is it.
Family bite a let.
Is it vital?
Is it no?
By what is a HMO?
You know, and do you work,don't you work?
Speaker 1 (27:23):
It's 3.4%.
No, no, wait a minute, they'vejust changed 3.95.
Speaker 2 (27:27):
Yeah, well, I suppose , like the moment, wait a minute
.
Speaker 1 (27:28):
No, it's 4.7.
Speaker 2 (27:29):
No no, no.
So I think there's a couple ofthings with that.
Really, I would probably say isthat was 5.7.
Yeah, exactly One is you can'task questions like on a general
form, because if anyone givesyou an answer it's never going
to be right because they don'tknow your circumstances.
But you can't get an answerfrom down the pub.
(27:51):
You certainly shouldn't get ananswer off just the internet.
You need to speak to somebody.
I wouldn't say go and speak tothe banks, because they're very
limited and actually if you'relooking to buy a, let they don't
really do them.
Anyway, it's very specialist.
You can speak to a professionalwho can give you those answers.
Speaker 1 (28:06):
Do you know?
What does it impact on?
You know, when you go on to aSantander, lloyd's, nat West,
any sort of thing, it shows howmuch can you borrow or work out
your rate, and it allows you toput in the I'm borrowing this,
it's over 25 years and theinterest you can type in the
interest rate.
So aren't people going.
(28:27):
Then, if you can get me a dealI've just looked online and I've
got 50 grand deposit that Iwanted over 20 odd years Can you
get me a deal where I'm paying?
It's going to be 800 quid,that's 3.95%.
I can afford that.
Can you go and find me?
That doesn't work like that butbut.
Speaker 2 (28:43):
But those calculators are, but the funny thing is
like that's the problem.
So if you go on to somebody'scalculators, right, now we've
had this numerous times andclients will come to you and say
I found this rate on manysavings export, whatever it
might be, can you, can you getthis rate?
And you're like, yeah, we canget our rate.
And you say, okay, so do you?
(29:03):
Do you live in Mansfield?
No, no, I live in Cardiff.
Okay, well, that's onlyavailable if you live in
Mansfield or in a certainpostcode area and they might
come with another one.
Okay, that's great.
Do you private bank with Coots?
No, no, I don't.
It's not available to do that.
The problem is these websitesare generic.
I would say on 99.99% ofoccasions people have ever come
(29:26):
to me with those rates theyfound on the internet.
They're always the lowest ones.
They're not exactly what theythink they are.
And the thing is, even I've hadpeople come me with discount
rates.
Or they've got this rate, it'sit's a 3.45% fixed.
No, it's nice, discounted was Imean, what is discount on some
of the rates?
So they more for you can go upand down, and they're like, oh
right, I thought it said fixed.
(29:47):
No, it's fixed anyway.
Speaker 1 (29:49):
It actually doesn't really see anything of what what
it is, and that's the dangerand I think then you're not good
enough because you can't getthe same deal as you they can
get as a generic thing online.
Speaker 2 (29:57):
She's frustrated, that's.
The problem is that there's somuch information on the internet
which is Not accurate.
True true.
Question two.
Speaker 1 (30:08):
Bum, bum, bum.
It's like mastermind.
Speaker 2 (30:12):
Now I see I've been asked this many times Should I
paint on my work pension?
Speaker 1 (30:19):
No, absolutely not.
Put it all in crypto.
That's not advice and I'm beingwhat's the word I'm looking for
?
Sarcastic, sarcastic.
Yeah, should he pay into yourworks pension?
Well, put it this way if youpay 80 pounds in, potentially or
let's say a hundred pounds, andyour standard rate taxpayer,
(30:40):
the government give you an extra25 quid on top of that.
And then, on top of that, yourboss, your employer, might add
in money.
Let's say they put anotherhundred quid in and so, all of a
sudden, before even any of thisgrowth or interest rate, you
put a hundred quid in and nowit's worth 225 pounds.
Now go and find anything onthis planet that will give you
(31:03):
that sort of uplift immediately.
And then you are.
You impact on the effect ofcompound interest over 10, 20,
30 odd years.
It is phenomenal.
So, yes, you should pay intoyour pension how much, as much
as you can bloody afford, and abit more, and as much at least
(31:24):
that your boss can match,because it's free Money.
Stop worrying about you know Ican't access it.
Access it until Ex-amount ofyears, doesn't matter.
Still your money.
What have I died?
It's still your money.
It'll go to the family is atax-free lump sum.
I want to spend another money.
No, it's a cost of a lifestylecrisis.
(31:45):
You need to plan for the future.
There's no excuses, just get itdone.
I suppose that let's not evengo into the.
Where shall I invest it?
Speaker 2 (31:54):
Oh, we'll do that.
Another upside I think we'llactually cover off this in
another kind of podcast.
We'll talk about Workpaidpensions and actually how we
think you should actually investin those, because I think,
that's a problem, because it's,but you know.
But what you don't do is just gowith the default option that
they're giving you.
There's a lot more you can kindof do that, but you've got to
do it because Effectively youcould have a good hundred
(32:14):
percent uplift straight awayfrom day one, while you're
putting in by what your employerputs in and where you get from
tax relief.
Speaker 1 (32:20):
You know, let's come come back to this in another in
a few weeks time.
Default is lifestyle, lifestylestrategy, which defaults as you
put a date when do you want toretire?
60, what age, you know?
55, I don't want any risk.
It automatically puts it intocash or bonds, and bonds in some
forms have gone down by 50% inthe last three years.
(32:40):
So you've lost half of yourmoney in a time when you you are
looking to start drawing anincome in the future.
So this concept of risk is justtotally, totally Upside down.
People don't understand it.
They don't understand risk andthey understand Most words of
two meanings.
You know, as in I don't know.
Let's say, give me an example.
I can't think of one right nowand I'm lost.
(33:04):
But some words will have adouble meaning, even though they
sound the same.
They're spelled the same.
But risk everyone just sees asone thing loss of money, and
high risk is the high of theworst thing and low risk is is
you never lose?
That's, that's gone out thewindow.
People need to be educatedcorrectly, but yeah we come back
to that another day.
Speaker 2 (33:23):
Yeah.
Speaker 1 (33:24):
Your expansion.
Speaker 2 (33:25):
Yeah, not pain to it and do not do what you hear a
lot of people doing.
I'm not gonna start now, I'mgonna start it next year because
I got a few things I want topay off.
You're never gonna pay them offto start and you're never gonna
start that pension.
Before you know, at five, sixyears down the line, you've lost
it on that couple hundred quida month you would have had
compounded.
You know you've.
Speaker 1 (33:44):
You've lost it on a lot of money if somebody sends
me in the bank statement, I betyou I can find 60 quid a month
on savings them.
You know Netflix, you neverused that.
Amazon Prime you've got two ofthem in the house.
You know I'm pet pet cover.
Your pet died last year.
Phone insurance that youalready have.
Speaker 2 (34:03):
We were that's another episode.
That is the amount of peoplewho pay pet insurance but don't
insure themselves or theirfamily or their kids
Unbelievable I.
Speaker 1 (34:12):
Think we've probably offended as many of the
listeners as we could in thefirst episode.
It's a good effort.
Speaker 2 (34:19):
Yeah, we're trying well, we probably will do more
of that, but people need to wakeup and hear these things.
Speaker 1 (34:26):
So we're back.
Speaker 2 (34:29):
Back together.
Speaker 1 (34:31):
That was loud, yeah, yeah.
Speaker 2 (34:35):
So it's good to be back actually.
Yes, and we don't have not, Idon't talk to you every day
anyway.
Speaker 1 (34:40):
And we don't have to do the YouTube version at the
moment.
So, people, people can't see my, my pinstriped three people
can't see the fact.
Speaker 2 (34:47):
I spilled food down the front of my t-shirt today as
well and with my daughter witha greasy fingers has greased up
my t-shirt, so didn't realizethis morning till I actually
going to work.
But most people don't know hisbike.
Speaker 1 (34:58):
I can't until next week, stay safe, spend loads of
money, feel happy Investingcrypto and all those things that
people just don't listen toanyone else about.
Speaker 2 (35:09):
Don't do any of those again.
Speaker 1 (35:10):
Yes, that was taking the mickey.
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