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With a new year rolling in, there's never been a better time to take more control of your financial life. With this in mind, Tony is here to talk to you about why these plans are so important, and the ten best ways in which you can structure your own. KEY TAKEAWAYS Review your expenses regularly and look for ways, large and small, to cut back. Freeing up extra cash is a great way to get ahead, and allows you to face any unexpected challenges. Tax really matters! Make sure you seek professional guidance and take advantage of any discounts, breaks or allowances that can work to your benefit. Don't be afraid to speculate from time to time. Wise investments can provide you with a good income throughout life, so take guidance and invest wisely. BEST MOMENTS 'Knowing where to begin - that's the key' 'Markets move through stages of growth, slowing down and speeding up!' 'You need to take some risks in order to generate a return' ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://pensionsandretirement.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

This time, Tony examines two topics - blending your retirement options, and the importance of having a retirement wealth check in place. KEY TAKEAWAYS Blending your retirement options is about having the right balance between flexibility and security to suit your circumstances. Review your spending habits and consider if you have the scope to save a little more each month. This will help you to enjoy the retirement that you want. Make sure you don't miss out on having the full state pension if it's possible. It's a crucial area to get right as you could save lots of money. BEST MOMENTS 'Remember that with any option, tax benefits are subject to change' 'Which combination is right for you will depend on a number of factors' 'Everybody's circumstances are different' VALUABLE RESOURCES Government State Pension - https://www.gov.uk/check-state-pension ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

In this week's show, Tony covers to vital topics - how to access small cash sums from your pension pot, and how to cash out your pension entirely if you wish to do so. KEY TAKEAWAYS For each cash withdrawal, the first 25% is tax-free. The rest comes as a taxable income. Be aware that each withdrawal may involve a charge. Once you take money out of your pension pot, any growth in its value is taxable. Lump sums could reduce your entitlement to benefits. If you're planning to put the money you've taken into savings or other investments, you should always compare and consider inheritance tax BEST MOMENTS 'Most people underestimate how long their retirement is going to last for' 'Without very careful planning, you could run the money and have nothing to live on' ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://pensionsandretirement.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

This week, Tony looks at the ever-more important topic of pension freedoms, with a particular focus upon the decisions you need to make in order to access your pension pots. KEY TAKEAWAYS Those aged over 55 now have a far greater freedom of choice in how they use their pension pots to fund their retirement years. As ever, it is always wise to take professional, independent advice before attempting to access pension funds. Informed decisions are crucial. You may now take your entire pension pot in one cash lump sum if you desire, but this could lead to a huge income tax bill, meaning less money during retirement. BEST MOMENTS  'The secret to happiness is freedom!' 'Pension freedoms have made it much easier for people to access their pension pots' 'It's essential to obtain professional advice before you make any major decisions! ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://pensionsandretirement.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Today Tony talks about delaying retirement, and why many have now considered working for much longer than they previously hoped.   KEY TAKEAWAYS   The pandemic has forced a nationwide rethink of finance in general, and how we manage our money. As a result, many over the age of 50 have delayed plans to retire. While some will choose to work for longer, the key consideration is that the pandemic has affected plans, rather than personal choice. There are five key positive reasons to delay taking your pension: Your pension has longer to grow Maximise your savings potential Your employer will keep topping up your pension Tax relief until the age of 75 Delaying state pension can boost your pension payments   BEST MOMENTS   'These figures are significantly higher for the over-50s’ ‘People have been forced to rethink retirement plans because of the financial impact’   ABOUT THE HOST   Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT   Tony’s official website: https://pensionsandretirement.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Flexible retirement income is becoming an increasingly popular way of ensuring your money works for you in your retirement. In this week's edition, Tony talks you through how it works, and why it might be the financial answer you've been looking for.   KEY TAKEAWAYS   Flexible retirement income involves reinvesting your pension funds, with the aim of giving you a regular taxable income throughout retirement. Users set the income they want, although this may change on a regular basis depending on the performance of your investments. You must manage this carefully as it is not guaranteed for life. Always take advice. Bear in mind that large withdrawals may take you into a higher tax band. If the value of your pension savings is above a certain threshold, then further tax charges might apply.   BEST MOMENTS   'This can help you pay the bills and live your life!' 'This is always going to be personal to you as everyone is different'   ABOUT THE HOST   Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT   Tony’s official website: https://pensionsandretirement.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Everyone wants to make the most of the money they have for retirement, and to generate more income from the investments and schemes they’ve chosen. In this week’s show, Tony talks you through the best ways to approach investments once that you’ve stopped earning a salary.   KEY TAKEAWAYS   Retirement is seen as a way of releasing the stresses of working life, and moving towards a new chapter. With rising living costs, however, the right strategy must be adhered to in order to maximise our accumulated wealth. An assessment of our current investments and savings must be undertaken in order to first see if the accrued amount is sufficient, and secondly to establish the amount of income we may withdraw, and how often, and whether this sun is suitable for our needs. A common mistake is to view our retirement funds with an element of finality. This leads to being too risk-averse. Retirement funds, if handled correctly, should generate more income.   BEST MOMENTS   ’The right strategy can help make sure that your retirement savings last’ ’The longer the time spent in retirement, the harder it becomes to be certain about the amount of assets you need’ ’The key is to enjoy this time of your life’   ABOUT THE HOST   Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT   Tony’s official website: https://pensionsandretirement.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Staggered retirement is becoming an increasingly popular option for people who aren’t quite ready to leave the world of work, or who may not yet be in a position to do so. But how can we ensure we make the most of this option when the time comes?   In this week’s show, Tony discusses staggered retirement, and why it might well be the perfect option for your retirement planning.   KEY TAKEAWAYS   Flexible working suits many of retirement age, especially if they are caring for others, or have health issues of their own. Retirement can often be an unsettling period. After working for the majority of our lives in a full time capacity, many suffer emotionally at suddenly removing this large component of their lives. Of retirees polled, 12% rely on income from property investments made in life, meaning that it is a large portion of much retirement income.   BEST MOMENTS   ‘For many people of retirement age, continuing to work, at least on a part-time basis, is an option they are now considering’ ‘It’s important that pensions are required to last as long as possible’ ‘It’s really important to make sure that pensions work past retirement age'   ABOUT THE HOST   Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT   Tony’s official website: https://pensionsandretirement.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

With many financial planning prospects now uncertain, Tony examines retirement planning; how it has been affected by COVID-19, and what you can do to make sure your future is better secured.   KEY TAKEAWAYS   The impulse to protect what we have, and secure the future for ourselves is understandably strong, especially with the radical financial shake-up caused by COVID-19 and its effects upon our society. The key as we approach retirement is to keep close track of our pension contributions so that we know if we’re closing in on our annual pension limits, or if we have scope to pay more into it. Be flexible and make sure you’re able to adapt, if and when required, to changes in our circumstances. This may require contribution adjustment, or re-evaluating the age at which we retire from working.   BEST MOMENTS   ‘A well-planned retirement is a happy and secure one’ ’The coronavirus pandemic has changed our concept of retirement forever’ ’The secret to happiness is freedom’   ABOUT THE HOST   Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT   Tony’s official website: https://pensionsandretirement.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Tony talks to author, speaker and wealth coach, Karen Newton, a specialist in helping clients to turn their dreams into reality through building businesses, investing in property and share markets, and protecting wealth by using bullion.   Karen discusses her incredible journey to success, the proven strategies that have energised her clients’ finances, and the the crucial role that resilience has played in her story.   KEY TAKEAWAYS   The compounding strategy - monthly dividend shares - is one that Karen teaches to all her clients. It allows far more profit to be made in the long term. Property investment requires creative thinking, hard work and resilience. A rocky property journey does not denote failure. Rather, it awards us with a valuable set of lessons. There are many ways of investing, but when we filter them down to their essence, they all fall into four categories: business, property, digital/paper and cash. Financial education is not always a simple case of improving knowledge. It is about adjusting the mind-set. It is about implementing a belief in one’s self, so that we believe that anything is possible. It is about removing doubt.   BEST MOMENTS   ’The compounding effect became a real to key to my investing strategies’ ‘Our strategy was that it needed four walls and a roof!’ ‘I just look at the deals that are out there and if it’s good, I’ll go for it' ‘It’s not so much the skills, but more the mind-set of people'   VALUABLE RESOURCES   Karen Newton - http://karennewton.co.uk Karen Newton Twitter - https://twitter.com/newydd105?lang=en   ABOUT THE HOST   Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT   Tony’s official website: https://pensionsandretirement.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

In this episode, Tony talks to business adviser, Helen Phillips, a specialist in helping businesses to achieve sustainable growth, about the ways in which her engineering background has enabled her to super-charge her financial career, why the role of business adviser carries with a huge responsibility, and the steps needed in order to re-evaluate the business world in the new working landscape.   KEY TAKEAWAYS   Coming from an engineering background has meant that Helen’s ability to compartmentalise issues and processes, working on each in turn. This has been of huge benefit to Helen’s clients, whose businesses may have multiple challenges at once. Information about most subjects is abundant and freely available. The skill comes in translating this information and applying it correctly. The first step to aiding a business owner is to re-examine the reasons for the founding of the business in the first place. Creating a vision and culture comes next, as well as learning how to delegate effectively. The lockdown has seen many downsides, but it has also allowed many to step back and reconsider their business journey, altering in some cases, the path along which they are travelling.   BEST MOMENTS   ‘It applies just as well to a rolling mill as it does to a business’ ‘You have to have a burning desire to help’ ’The things that make your business more valuable are also the things that give you more time’ ‘It’s an opportunity to create that new path that you want to travel'   VALUABLE RESOURCES   Mustard Advisers - https://mustardadvisers.com/team_members/helen-phillips/ Helen Phillips LInkedIn - https://www.linkedin.com/in/helen-phillips-a7999a8/?originalSubdomain=uk   ABOUT THE HOST   Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT   Tony’s official website: https://pensionsandretirement.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Welcome to the Tony Talks Wealth Podcast!   Tony interviews real people about their money journey, their challenges, and how they overcame them. You will learn personal finance and practical money management tips to help you get your finances in order as well as your money mind set. He also discusses how to invest and plan for an early retirement and financial freedom in simple, easy to understand language. It’s time to plan your finances and create your own ‘GAME Plan’.   ‘If you fail to plan, you are planning to fail’ – Benjamin Franklin   In today’s episode, Tony talks to Bev Jones, an author, speaker, and founder of Awaken Coaching, helping business owners to find clarity and vision through mentoring and coaching.   Bev discusses the importance of self-care in the business world, and why it’s okay to put ourselves first, and the surprising opportunities that can sometimes be found in the darker moments of life.   KEY TAKEAWAYS   Burnout and anxiety are certainly more prevalent in business nowadays. This ia mainly due to the more open nature of business life. People feel comfortable in discussing their mental health needs in the workplace, and are encouraged to do so. Do not have regrets about the world as it was. It has changed, but it has dealt a blow to the practices in society that perhaps needed to be swept away. The world is filled with new opportunities. Redundancy, or a shift in career paths can be fearful. But it can also provide us with a chance to gain new perspective about out lives, and whether or not we are truly happy with our current situation. Seeking the help of professionals, especially in the financial world, will often open up new and more creative ways to achieve financial freedom.   BEST MOMENTS   ‘Life in general is moving at a faster pace than ever’ ’To change you need to something about it ‘It’s okay - change happens’ ’The two most important days in your life are the day you’re born, and the day you find out why'   VALUABLE RESOURCES   Awaken Coaching - https://www.awakencoaching.co.uk Bev Jones LinkedIn - https://www.linkedin.com/in/beverley-jones/?originalSubdomain=uk Time To Change Wales - https://www.timetochangewales.org.uk/en/   ABOUT THE HOST   Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT   Tony’s official website: https://pensionsandretirement.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Welcome to the Tony Talks Wealth Podcast!   Tony interviews real people about their money journey, their challenges, and how they overcame them. You will learn personal finance and practical money management tips to help you get your finances in order as well as your money mind set. He also discusses how to invest and plan for an early retirement and financial freedom in simple, easy to understand language. It’s time to plan your finances and create your own ‘GAME Plan’.   ‘If you fail to plan, you are planning to fail’ – Benjamin Franklin   In this episode, Tony talks to Steve Conley, the author of ‘Your Money Or Your Life’, and the founder of The Academy Of Life Planning, about the changing face of global banking, the importance of financial education, and how you can begin to create wealth through pure financial planning.   KEY TAKEAWAYS   In the UK market there is a large problem with the advice gap, caused by the lack of trust in financial institutions. Surveys show that this image is changing slowly, but there is still work to do. Products are designed to manage wealth, run it, or reserve it, but no product can create It’s the client who creates wealth. We can aid them by creating a plan. It is here that we add the most value. The financial industry has, for the longest time, been designed around the industry taking a cut of your earnings, holding it, and returning what’s left at the end of your life. This system does not work. 95% of retirees have less than 100k when they retire.  First we must plan goals and actions with our clients. Goals must affect each element of life including mind and body, heart and spirit. Action plans are project plans, looking at money and the financial architecture required in order to support the life plan.   BEST MOMENTS   ’There are no products that can create wealth' ‘It was an opportunity that was really missed by the banks’ ‘As a pure financial planner, you educate your clients so they make informed decisions’ ‘It’s a great social benefit from pure financial planning'   VALUABLE RESOURCES   Your Money Or Your Life by Steve Conley (Amazon) The Academy Of Life Planning - https://www.academyoflifeplanning.com/about-us/ Steve Conley LInkedIn - https://www.linkedin.com/in/stephenjamesconley/?originalSubdomain=uk   ABOUT THE GUEST   In essence, Steve, following a very successful career in the city wrote a book called Your Money or Your Life, worked as a Financial Adviser became disillusioned and broke, then set up the Academy of Life Planning. The academy helps other financial planners become life planners with ongoing support and also helps direct clients to create wealth and leave a legacy without providing regulated advice that is done by a traditional financial adviser.   ABOUT THE HOST   Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT   Tony’s official website: https://pensionsandretirement.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.

Welcome to the Tony Talks Wealth Podcast!   Tony interviews real people about their money journey, their challenges, and how they overcame them. You will learn personal finance and practical money management tips to help you get your finances in order as well as your money mind set. He also discusses how to invest and plan for an early retirement and financial freedom in simple, easy to understand language. It’s time to plan your finances and create your own ‘GAME Plan’.   ‘If you fail to plan, you are planning to fail’ – Benjamin Franklin   In this episode, Tony tells you all about the mission behind the podcast, why now might be a better time than ever before to think about your place in the financial world, and how to recognise and examine the key areas in your financial life that need work.   KEY TAKEAWAYS   Even with a solid financial plan in place, we must revisit often in order to reflect any changes in the world around us.  Consolidate your debt by examining in detail, your outgoings and levels of interest. Once you have your monthly outgoing figure, work out if a debt consolidation loan may be a cheaper way to pay things off early. Effective budgeting allows you to track progress and identify spending errors before they become disastrous. This practice will make you far more mindful of your spending choices each day. Focus on your goals. Failing to plan is planning to fail! Goals are not finite. We need to set goals, and then re-examine them as we move through life. Do they need altering now that our position is different? Set short, medium and long-term goals and revisit often.   BEST MOMENTS   ‘A tighter grip on finances is key’ ‘Your budget will make sure that you are telling your money what to do, and not the other way around’ ‘You’re no longer just along for the ride on a financial rollercoaster’ ‘Failing to plan is planning to fail'   ABOUT THE HOST   Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.   “Live For Today, Invest For Tomorrow”   CONTACT   Tony’s official website: https://pensionsandretirement.co.uk/ Facebook: https://www.facebook.com/TonyThomas.IFA/ LinkedIn: https://www.linkedin.com/in/tonythomas2/See omnystudio.com/listener for privacy information.