Why you don't feel as wealthy as you should.

Tommy goes through why you may not be feeling as rich as you think you should be.
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This channel is for education purposes only and does not constitute financial advice and tax allowances and rates are subject to change.

[@emmacoombe9864]

Consultants have been on strike and are also on a pay dispute! Can you do us a youtube focused on family finances please? The cliff edge at £100k where you lose tax-free childcare. How should you save for your kids futures etc?

[@MedicsMoney]

Yeah we recorded it a while ago and seemingly successfully predicted the future that consultants would also strike😉 We'll definitely do a family finances on KZbin but in the meantime this will help you with the Tax Free childcare trap www.medicsmoney.co.uk/your-marginal-tax-rate/ and this podcast series www.medicsmoney.co.uk/ep-87-family-finances-how-to-teach-your-kids-about-money-with-will-rainey/

[@vinodkumar-ve9wz]

Brilliant, thank you

[@bookeaterintube]

This is brilliant, very helpful and clear! Particularly about pay cut due to taxation and income erosion due to inflation. It is shocking that you can take home £17 only out of £100 earned. Only thing I'd say £7.50 lunch would be quite extravagant in hospital canteen. Usually sandwich meal deal goes for about £3.50 to £5 and i found really difficult to make good lunch cheaper at home. However I brew my own coffee at home every day and it saves loads money!

[@robbiekerry4500]

Always well worth a watch! Quick Q on LISA (not for me, too old 😢 but my offspring might benefit....): Does a LISA have to be only one type (eg cash) or could you have a LISA that is part cash, part well diversified passive investment funds? Thanks very much!

[@HenryCrosland]

You can hold cash in a stocks and shares and invest in cash-like instruments such as short dated government paper or money market funds.

[@kimo255868]

6:45 Consultant rage! Jokes aside. I totally hate the term "junior" as well.

[@MedicsMoney]

We agree, awful term!!