Tony Talks Wealth Podcast

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

• Some ISA’s give you instant access to your money and can be used to plan your finances in the short term. You can also invest in an ISA for the future.
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Risk tolerance is one of the biggest factors in your investment decision process. Tony talks about how to decide how much risk to take depending on your circumstances, goals and individual comfort level when it comes to risk.
KEY TAKEAWAYS

• Consider how you would feel if your investments lost money in the short term. If this makes you anxious, you may be significantly risk averse. If you are comfortable with...

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

KEY TAKEAWAYS

• Ca...

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

• A variety of financial goals such as retirement, home purchases or saving for a child’s education can be specified specif...

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

KEY TAKEAWAYS

• When offered the opportunity to join a workplace pension it is alw...

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

KEY TAKEAWAYS

• Retain a professional Financial Advisor to achieve the retirement that you want.
• Currentl...

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

KEY TAKEAWAYS

• Tax efficiency is a key consideration when investing because it can make such an enormous difference to your wealth and quality of life.
• One way to avoid tax is to contribute to an individual savings account (ISA) and take advantag...

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

KEY TAKEAWAYS

• Life expectancy is longer than ever before which means you need your money to last much longer. 
• More companies are moving away from Defined Benefit Pensions which guarantee you a certain ...

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

KEY TAKEAWAYS

• Pension Freedoms. Consider your pensions accessibility arrangements.
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With many people living longer expectations of retirement are being reshaped and there is no longer a one size fits all approach to retirement planning. Tony talks about the many choices and options available to you in your retirement bearing these changes in mind. 

KEY TAKEAWAYS

• It's important to consider loved ones over the course of one's retirement. 
• Find out if your pension will cover yo...

Many savers believe that inflation will have no impact on their savings or even leave them better off. In this episode Tony spells out the real effect that inflation can have on your savings and what to do about it.

KEY TAKEAWAYS

• The total cost of saver inaction, if inflation continues over the next five years, could amount to 18 billion pounds.
• Work out how much of your savings you need to p...

Investing is one of the most important things you can do to secure your financial future. Tony shares the10 principles that should be applied when choosing and managing your investments.   

KEY TAKEAWAYS

• Set investment goals.
• Plan on living a long time and saving more for it.
• Cash is rarely king, inflation can erode your purchasing power.
• Start early and re...

So when is the right time to retire? There's no one size fits all answer to this question, because it very much depends on your personal circumstances. However, there are a few things to consider that may help you to decide when the time is right for you. Tony details what information and circumstances you should be looking out for to know the right time has arrived.

KEY TAKEAWAYS

• Do you have enough saved up t...

When investing, market volatility can often cause rash decisions that can often be unnecessary and harm your long term outlook while trying to achieve short term peace of mind. This is why it's important to take a 10 year or more view to enable cool-headed rational responses to sharp financial movement in either direction.

KEY TAKEAWAYS

• Trying to second guess events and make bets on them rarely pays off and de...

Tony explains the six key principles to ensuring your financial prosperity for a secure future. Understanding your targets, preferred investment types and tolerated risk level is essential before you embark on a well rounded investment plan, but what should you keep in mind as you move forward towards your goals?

KEY TAKEAWAYS

• Have a strategy and stick to it.
• Think twice before putting all of your money in cash.
• Diversify and con...

We know that rising inflation and increases in taxes are set to leave millions worse off in 2022 and beyond. Households are already grappling with the worst cost of living crisis in a generation. Budgets have been further squeezed by a raft of price and tax rises, and inflation is the highest it has been for 30 years. Tony offers ten tips to help you manage through this difficult period.

KEY TAKEAWAYS

• Save money on your energy ...

For very many couples divorce is a sad outcome, emotionally and financially. However, there are many things you can do to make the process easier should this unfortunate situation occur.

KEY TAKEAWAYS

• Since April 2022 a ‘no fault' divorce came into effect in England and Wales. This finally removes a need for blame as a basis for divorce. The respondent to a divorce is also no longer able to contest ...

There are many factors that can influence when someone decides to retire, which Tony will explore in more detail in this episode. For some, it might be based on health reasons, while others may want to take advantage of government benefits or simply enjoy a more relaxed lifestyle. However one of the most common factors that determines when people choose to retire is definitely their age. So with that in mind, what is the most popul...

In the last in his series on estate planning Tony explains the use of Lifetime Transfers to decrease the eventual tax liability left to your inheritors by giving away funds before your passing. However, there are still liabilities payable depending on when you pass.

KEY TAKEAWAYS

• Inheritance tax exemptions can be achieved by means of making certain exempt transfers which apply in a number of cases, including wedding g...