How To Sort Your Financial Life Out This Year

[@MakingMoneyPodcast]

Hello! We’ve put something together for you - a free guide for beginners that shows 80% of what you need to know about personal finance on 2 pages. You can get it here: makingmoney.email/80-guide-video

[@HaZa-bz1xy]

Lisa is absolutely brilliant. I have listened to her first appearance on your show several times and am listening to the current show for the second time, no doubt I'll keep coming back to it a few more times. Please bring Lisa back as a regular guest. Thank you.

[@samf8074]

Thank you guys for this channel, I now have a SIPP (in addition to my public sector pension) an ISA, I’m 22… my family don’t do it… and I have enough money to move out, without any financial backing from anyone! But I’m not doing that yet, because I’m not silly!

[@matthewpye6186]

Yes 💪 you are on a road to success. Good for you mate

[@Bluearmy76]

Frankly amazing for 22. However, would you maybe be better off with a LISA than a SIPP? You have retirement covered with the Public Sector Pension already. A LISA gives you the option to buy a house and access the money earlier (when ready obvs) which a SIPP doesnt. If you dont need it for a house, acts as a SIPP for retirement anyway??

[@samf8074]

@@Bluearmy76 I also have a Lisa for my first house, not for my pension fund. I’ve been paying into that since, early 2019, so have come to a stage where I do not need to put as much in as I once did. Eventually, the SIPP works out better for me because I will be in the higher tax brackets.

[@Bluearmy76]

@@samf8074 fair enough. No arguments then. Wish i had your mindset at 22. 🤯

[@benjaminheginbotham7927]

Get a lifetime ISA mate. You can use it to buy your first house. Save UP TO £4K a year and get £1k free from the government

[@ADHDNurse79]

I could listen to her for hours! Another fab listen

[@MakingMoneyPodcast]

Thanks so much!

[@DB25k]

New suit, repeat guest, and chair swapping... This really positive for 2024,.. Again this great information that we all need to be aware of.. You guys are doing a fantastic job of making us of aware of different financial goals and understanding it. Keep keep doing it.... Thank you..and thank you Lisa.

[@MakingMoneyPodcast]

Thanks for the kind words 🙌

[@UKGeezer]

Thanks so much for this Damian, Lisa's knowledge is awsome - as is yours. It hits hard when you're in your early fifties and realise your workplace pension could be so much better if only you had taken the time to educate yourself a bit earlier. It's shocking how badly it's performed. Your last video gave me the kick up the arse I needed to sell the damn thing and invest 100% in an MCSI world fund index. Still got at least 10-15 years work in me (hopefully) so still time, and will gradually move over to bonds nearing retirement. Also have a S&S ISA which I'll keep investing in long after I retire. Fortunately I've always been a good saver, so built up quite a bit in cash to invest, but sooo wish I knew this stuff earlier in my life.

[@richsmart321]

The story of the lady in her 40s resonates with me 100%. My pensions over 20 years have grown by a paltry amount, because I had simply left them in default funds. Am absolutely furious with myself for not knowing more about this and means I'm going to need to work a lot longer than I would have done had I taken interest in my pensions

[@MakingMoneyPodcast]

You're not alone Rich, and you're now on the right track which is what is most important.

[@minimad8793]

Lisa back on the show, awesome font of knowledge this girl. great guys for getting her back to get us all thinking of financial wellbeing

[@MakingMoneyPodcast]

It has been an honour to have her on the podcast twice

[@vanessakellow2957]

Absolutely stunning advice. Incredibly grateful to you all. ❤❤❤

[@TheRealMerl]

I like to think that I learnt how to manage/budget my money (don't mistake this with investing though), purely because I never had any :( So I've been running an expenses spreadsheet since 2011 and still going, to help me keep track of everything. But I honestly have to give huge thanks to you guys for opening my eyes 9 months ago and setting up ISA and a SIPP. Damo, T and the whole crew - you're awesome! And also, so great to see Lisa back!

[@TheTheoutlawjf]

I would love to hear more from Lisa, but especially for those of us that are older. I’m late 40s and have only been in full time employment for the last few years, as I had caring responsibilities and needed to work multiple part time jobs to juggle life/home. I know there are lots of women in similar situations with hardly any pensions and are now facing what looks like a bleak retirement (if any!). What can people like me do?

[@Tristonian.fx.]

I just want to say thank you for what you do! You and your channels have changed my life forever! Thank you Damien, you are a legend!

[@DamienTalksMoney]

My please! Thank you so much

[@eheld27]

Thanks for this channel boys now got over 2k in my stocks and shares isa S&P 500 etc etc Set up my first sons junior isa Sorted my pension out and now got more savings then ever.

[@MakingMoneyPodcast]

Love to hear it! Congratulations

[@mattsennett]

A great show boys with a top guest. Lisa has that friendly way about her which makes listening to what she has to say very easy. Brick by brick / one step at a time over many years equals something special come the end 👍🏻

[@Sandy83]

Love this episode! Cant wait till the next one!

[@Brown969]

Was quoting Lisa to my dad over the Christmas break. Glad to see her back on the show. T is looking fresh with the suit jacket 😎

[@MakingMoneyPodcast]

We love the suit too 😎

[@adamwestrip7422]

Hey Damo, brilliant podcast with great content. A quick question, when it comes to depositing funds into an ISA, is it better to put £20k in at the start of the financial year and take advantage of the compounding interest of that amount? Or should I spend the £20k out over 12 months to take advantage of pound cost averaging?

[@richard_2672]

Another great video. Thank you!! I am looking for some advanced cashflow modelling software to help plan my retirement. Apart from Voyant which is excellent (I am looking for something similar to this) is there any other software which is either free or at a reasonable cost? I will try Aviva which was mentioned but often when I check pension calculators online they are simply too basic. Any suggestions will be very helpful? Thanks.

[@NewFemtex]

Another fantastic podcast! I missed the MENSA question this time around though 😂

[@leticiabueno3761]

38 years to start having health issues? Guys, let's work on our sleep quality and days-steps :) Dr Huberman's podcast is actually a great one to complement our finance planning - with Health planning

[@julianpilkington4990]

great chat and really helpful!

[@Abdul_Rahman86]

Best saving plan is what works best for yourself and what’s realistic. For me, the moment my pay cheque comes in. I put a minimum into a SIPP. Then I force myself to enjoy what’s left after bills 😂

[@Flat-Five]

Good to see her back, enjoyed the first one 👍

[@MakingMoneyPodcast]

Glad you enjoyed it

[@mkdons22]

Love both channels damo u flippin legend. T is sound as well ofc funny dude

[@MakingMoneyPodcast]

🙌

[@HoppyDrifter]

Just gonna whip this in there. If you're lucky enough to find a job you enjoy. Your mindset massively flips. T said 3 years ago he wanted to retire early, exactly like me. Now if i have too many days off, i feel like I could be working to earn some more on the side. Too many of my friends are stuck in jobs they dont like and dont actively look for new jobs :/

[@Brown969]

Can you get The Psychology of Money author Morgan Housel on the show? You guys would do great together. 👍

[@MakingMoneyPodcast]

👌

[@davidboulton7383]

Great podcast. In your opinion, would you advise having a pension fund that is 100% equities at the age of 32? I invest 25% of my salary which includes employers contribution, this is invested 96% in a Blackrock overseas equity ex UK and 4% in UK all shares. I also have a stocks and shares isa which is invested throughout an all world etf, s&p 500 and emerging markets (the latter two is 10% each). Any advice would be appreciated. Thanks

[@kangaprime]

Amazing ❤

[@pilkers745]

I love you Lisa

[@CompaqP920]

Yeah. Just keep giving me £4000 a year, so I can top it up with a £1000. Thanks by the way. 😂

[@pilkers745]

Great episode

[@MakingMoneyPodcast]

Thanks 🙌

[@abarnybox]

Slightly off topic for the main podcast but Damien mentioned how they had spoken to entrepreneurs etc. that have that mindset of "I can make as much money as I want" and I just wonder whether it's easy to look at those people and think "ahhh I wish I was more like that, I should take a few more risks etc. etc." - but you're only talking to the success stories, you're talking to the people who HAVE made millions or made a name for themselves, not the millions of people who haven't... It would be interesting to talk to some people who are on the opposite side of that coin...although they may well be somewhat harder to find! millions may be an exaggeration I don't have any numbers...just thinking out loud really :)

[@jonathanclarkewater]

Subscribed 👍🏻

[@MakingMoneyPodcast]

Great to have you on board 👊

[@JohnFord-c5l]

Lovely lass..please have her back on soon..very smart cookie

[@curtisparker3349]

I’m also a sucker for Greggs, pasty 😂

[@MakingMoneyPodcast]

Damo's biggest weakness

[@Dr.JubairsFinance]

Thought this was a lifetime ISA video

[@DJN1012]

😂😂

[@EamonCoyle]

I think if you take into account the compounding of interest over the period of saving your pension that does lead to a snowball of accumulation over time but 13.5x sounds like a big amount of savings when you consider it !!

[@Josh-Beeton]

Pulled some data out of my nest account and after some excel maths I think my pension has seen 5% growth over the last 3 years. (Current value against total of all contributions) Is that good?

[@withwilk7473]

Better than alot of pensions, but 3 years is not enough data, and everything has gone up to all time highs, so that would be expected.

[@jesusrevus8017]

I had mine in a global equities fund and the last 5 years have done- starting 2019- 27% 20% 14% -7% 10%. The blackrock world excluding UK equity fund has done over 200% in 10’years. So 5% is not good compared to what funds other funds are achieving.

[@Cherpontcarp]

I switched off when leftie Lisa started her leftie talk 🤣

[@pedazodetorpedo]

I'm only 35 now so I don't expect to retire until I'm 70 and probably won't receive any State Pension either. I estimate that I will need a pension pot worth £1 million in 2058, so I better get saving.

[@kinggeoffrey3801]

That's not depressing at all.😂

[@louisemmett1999]

Is the half your age as a percent rule inclusive of employer contributions

[@DKNW62]

Scuuuussseeee me when Im old at 60 !!😢😂😂

[@pedazodetorpedo]

If you look pasty, you probably eat too many pasties

[@goober-ll1wx]

Lifestyling should be banned, the amount of time they move to cash for is costing people bigtime!

[@etypiccolo]

There must be a joke somewhere about getting a bonus episode with LISA...

[@theguy9067]

Bonus? 😂 Surely this guy can get higher quality guests on

[@Brown969]

for every 4 episodes, you get a free episode from the govt 😉 (if that's what you meant?)

[@cameronmmj9291]

First 😂