Informed Choice Radio - Personal Finance Peace Of Mind With Martin Bamford

Anyone who has learned a financial lesson the hard way has probably thought, "I wish I knew that sooner". We've all got financial regrets, some big and some small. My guest on the podcast today wants people to have access to the right financial information at the right time, before they do the wrong thing. Sten Morgan is a Certified Financial Planner and founded Legacy Investment Planning as an alternative to traditional financial advisers. He's on a mission to bring creativity back to the financial industry and to help as many people as possible avoid the financial regrets that come from wishing they would have known sooner. In our conversation today, we discuss the importance of focusing on the big financial decisions, why the cash emergency fund needs an urgent rethink, and how the pandemic has influenced our financial decision making. Here’s my conversation with Sten Morgan, author of Wish I Knew That Sooner, in episode 557 of Informed Choice Radio.

Crypto is always in the headlines, with a growing number of people speculating on Bitcoin, Ethereum and other tokens. But, along with the rest of the financial industry, scams are rife. Thousands of people lost billions of dollars in the OneCoin scam, masterminded by the now infamous Missing Cryptoqueen, called 'one of the biggest scams in history'. How can you protect yourself from losing out? My guest on the podcast today is Erica Stanford, a crypto expert and educator. Erica is author of Crypto Wars: Faked Deaths, Missing Billions & Industry Disruption, highlighting the real stories behind some of the biggest crypto scams in the world. She's founder of crypto networking and events organisation the Crypto Curry Club, and a lecturer at Warwick Business School. In this conversation, I chat with Erica about distinguishing between the use case for crypto and the scam element of the industry, what some of the crypto scams look like, and the things you need to watch out for to avoid being scammed. Here's my c

What has the pandemic taught us about wealth and what my guests today refer to as 'funded contentment'? I'm delighted to welcome back to Informed Choice Radio two of my favourite people from the world of behavioural finance. Brian Portnoy is one of the world’s leading experts on the psychology of money.   He has written multiple bestselling books, including The Geometry of Wealth, and has 20+ years of experience as investor and educator in the hedge fund and mutual fund industries.  He is a CFA Charterholder and earned a PhD at the University of Chicago.  Neil Bage is an expert at bridging complex behavioral science with practical, tech-enabled application. He has served as a Chief Behavioral Officer for a UK-based financial planning firm and was the founder of an award-winning behavioral technology business. Neil has presented to thousands of business professionals around the world on human evolution, human biology, and behavioral psychology. As experts in psychology, finance, technology, and learning, Brian

The recent high-profile ITV documentary ‘Kate Garraway: Finding Derek’ highlighted the severe issue of losing mental capacity. This documentary is about Kate’s struggle to support her Husband Derek, in a year-long battle with Covid-19, has been only complicated by the lack of legal protections. Kate has been unable to manage her husband’s care or manage his finances. She did not even have the right to see his medical information. But what happens when you or a loved one loses mental capacity, and you can’t make financial or healthcare decisions on their behalf? There is an effective legal tool available, the Lasting Power of Attorney, that can prevent a great deal of stress and cost at what is already a challenging time. My guest on the podcast today is Emily Taylor, Partner at BDB Pitmans. Emily specialises in tax planning, trusts, estate administration and drafting of wills and powers of attorney. She has a wealth of experience dealing with a wide range of private client matters in particular high net worth

Businesses in England could stimulate the economy by as much as £61 billion by 2025, if they proactively develop new wellbeing strategies and improve underperforming ones. With many employees thinking about a return to the workplace in the coming months, wellbeing will be front of mind during this critical transition. My guest on the podcast today is Vicky Walker, Head of People at Westfield Health. Vicky has more than 25 years’ experience in HR. She believes it is the role of HR to act as the conscience of an organisation and the voice of its employees in the boardroom. In this episode, we discuss the findings of the new report, Coping with Covid: The Hidden Cost to Businesses (and their People), which takes a look at business attitudes towards wellbeing and its role in the workplace. Here’s my conversation with Vicky Walker, Head of People at Westfield Health, in episode 553 of Informed Choice Radio.

4 in 10 women struggle with their financial wellbeing as a result of a focus on short-term finances. According to the latest Aegon Financial Wellbeing Index, women wait until later in life than men to determine what they truly want from their finances. In this episode of Talking Money, Martin and Hannah discuss why women's financial wellbeing is suffering because of a focus on short-term finances. They also look at the new rules being introduced by the FCA to stamp out the systematic scam of insurer price walking, and they talk about new research that suggests we are counting our inheritance chickens before they hatch. Welcome to episode 20 of Talking Money, with Martin Bamford and Hannah Godfrey. In each episode of Talking Money, we take a topical look at the big money stories of the week, putting our personal spin on the news.

My guest on the podcast today found himself deeply in debt, despite earning significant amounts of money in his career. He came to realise that what he didn't understand about money was really hurting him. It was the right time to get a strong financial education. Dave Mason is the author of The Cash Machine, a novel that charts the rollercoaster relationship of characters Amber and Dylan, teaching the reader hundreds of money lessons along the way. In our conversation today, we talk about the importance of money in relationships, why you need a clear purpose before seeking financial independence, and the secret to finding the answers you already know. Here's my conversation with Dave Mason, author of The Cash Machine, in episode 551 of Informed Choice Radio.

The absence of a renewed economic strategy in the UK risks creating a relative decline in the coming years. That's according to a new report from the Resolution Foundation, The UK's Decisive Decade. In this episode of Talking Money, Martin and Hannah discuss the five seismic changes to our society and economy that require a clear strategy to avoid disaster. Also in this episode, why the latest official payroll data looks good but hides some worrying numbers, and how one business is measuring the carbon footprint of its staff who are working from home. Welcome to episode 19 of Talking Money, with Martin Bamford and Hannah Godfrey. In each episode of Talking Money, we take a topical look at the big money stories of the week, putting our personal spin on the news.

The pandemic has forced a huge number of people to work from home. In some cases, this enforced change in our working practice has been a revelation; life became instantly better overnight, with distractions removed and hours each day saved in commuting time. For others, working from home is a living nightmare, and they can’t wait to get back to the office. My guest on the podcast today has written the book about working from home productively. Cynthia Spraggs is a nomadic traveller who got her Masters degree in telecommuting in the mid-90s, when remote working was still an alternative approach. She has worked remotely exclusively since 1993, from all over the world. As President and CEO of Virtira, she leads a team that implements processes, standardised tools and facilitators to make sure that everyone, no matter where they are, stays on track and accountable. In our conversation today, Cynthia explains why some people are suited to remote working and why others are most definitely not; we talk about Zoom f

The post-pandemic rental market outlook is clouded by economic uncertainty and shifts in housing preferences. In this episode of Talking Money, Martin and Hannah discuss new figures showing a decline in the private rented sector, following almost two decades of rapid expansion. Also in this episode, why the new Breathing Space scheme for those in problem debt comes at the perfect time, and the jobs outlook for older workers as the furlough scheme comes to an end. Welcome to episode 18 of Talking Money, with Martin Bamford and Hannah Godfrey. In each episode of Talking Money, we take a topical look at the big money stories of the week, putting our personal spin on the news.

Our global economic system is broken. The experience of the past 12 months, living through an unprecedented global pandemic, has illustrated the need to find a new way. My guest on the podcast today is Peter Vanham, co-author of Stakeholder Capitalism, written with his World Economic Forum colleague Professor Klaus Schwab. Stakeholder Capitalism explores why things need to change and how we can create a global economy that works for progress, people and the planet. It’s all about eliminating rising income equality (a problem that has become dramatically worse throughout the pandemic), and also reducing the dampening effect of monopoly market power wielded by large corporations on innovation and productivity gains. This manifesto for change also addresses the short-sighted exploitation of natural resources; something that is corroding the environment and affecting the lives of many for the worse. Peter is Head of Communications, Chairman’s Office at the World Economic Forum. He’s an economist, entrepreneur and

The UK property market is red hot right now, with the latest data from property portal Rightmove showing a record high for asking prices and a rapid turnaround for property sales. Does the launch of low-deposit mortgages this week add more fuel to the property fire? Also in this episode of Talking Money, Martin and Hannah discuss a looming price war in the financial advice market, thanks to Vanguard introducing a digital advice service for users of its platform, and why the government is planning to compensate investors in the failed mini-bond scheme from London Capital & Finance. Welcome to episode 17 of Talking Money, with Martin Bamford and Hannah Godfrey. In each episode of Talking Money, we take a topical look at the big money stories of the week, putting our personal spin on the news.

It's been a funny old year for investments. As investors shifted their attention to high-growth tech stocks, perhaps better suited to our new way of life during the pandemic, and central banks unleashed a 'wall of cash', more traditional, so-called cyclical stocks were left behind. But could that all be about to change, as the global vaccination programme roll-out gathers pace, and we contemplate a return to a new normal? My guest on the podcast today is Alasdair McKinnon, Manager of the high-conviction, global contrarian Scottish Investment Trust. The Scottish’s team recently made some meaningful changes to the portfolio which reflect their contrarian view that investors are deeply underestimating the potential for certain stocks to benefit from the economic recovery. Alasdair sees this as “the start of a multi-year turnaround” for some investments that have been overlooked in recent years and that have been temporarily impacted by the pandemic. In our conversation today, we cover a lot of ground, including

We’ve saved an average of £1,744 each since last March, spending 65% less overall on typical day-to-day expenses. But what would happen if we invested these lockdown savings for the future? Also in this episode of Talking Money, why first-time buyers are better off than renters to the tune of £800 this year, and the surprising financial and mental resilience demonstrated by the over-50s during the pandemic. Welcome to episode 16 of Talking Money, with Martin Bamford and Hannah Godfrey. In each episode of Talking Money, we take a topical look at the big money stories of the week, putting our personal spin on the news.

What does it take to live with purpose and retire with confidence? Our lives have changed dramatically, with the steady employment and affluence enjoyed by the post-war baby boomer generation replaced by a more transient approach to work today. My guest on the podcast today is Patrick Rush, who shares in his new book Gain Big and Give Back the simple, age-old, established rules for saving and investing. Patrick has worked across different parts of the financial services profession and now runs his own independent wealth management firm. He shares his playbook for becoming wealthy and using that wealth to live with purpose. In our conversation today, we cover the importance of making a financial plan to understand how much you can afford to give, why open conversations with your family are so important, and what to look for when working with a professional adviser. Here's my conversation with Patrick Rush, author of Gain Big and Give Back in episode 543 of Informed Choice Radio.

With the one-year anniversary of the first national lockdown, it’s a time for reflection. In this episode of Talking Money, we look at new research into how our shopping, spending and television viewing habits have changed in the past 12 months. We also discuss the revelation that some analysts at investment bank Goldman Sachs are working 95 hour weeks, with a detrimental impact on their physical and mental wellbeing. And new research has shown that Gen Z and millennial generations have been forced to borrow thousands and seen their lives set back years as a result of the COVID-19 pandemic. Welcome to episode 15 of Talking Money, with Martin Bamford and Hannah Godfrey. In each episode of Talking Money, we take a topical look at the big money stories of the week, putting our personal spin on the news.

Do you want to live a fulfilled and purposeful life? Are you unsure how to create the fulfilled life that you’re seeking? My guest on the podcast today is Jonathan Gibson, a Chartered Financial Planner, Chartered Wealth Manager and Certified Financial Planner professional. Jonathan is the author of Purposeful Wealth, where he shares the key financial and wealth planning strategies you need to focus on. At the heart of Jonathan’s work as a Financial Planner is a belief that real wealth is about much more than money and possessions. In this conversation, we discuss the importance of placing purpose ahead of money, what our enforced lifestyles during the pandemic can teach us about what we most value, and why authentic investing is the best approach to support a purposeful life. Here’s my conversation with Jonathan Gibson, author of Purposeful Wealth, in episode 541 of Informed Choice Radio.

Inflation basket changes can have a big impact on your finances. Here’s what you need to know about why these changes are happening and how they may affect your personal experience of price inflation in 2021. We also talk about why the pandemic has pushed our spending closer to home and how nearly half of defined benefit pension schemes closed to future accrual in the past year - with significant consequences for those building an income in retirement. Welcome to episode 14 of Talking Money, with Martin Bamford and Hannah Godfrey. In each episode of Talking Money, we take a topical look at the big money stories of the week, putting our personal spin on the news.

In this episode of Talking Money from Informed Choice Radio, why women need to find an additional £100,000 in time for retirement, to match what men typically save. We also discuss the latest 5-year forecast for rising house prices across the UK and why the future of working is likely to be a hybrid arrangement, with some time working from home and a few days each week at the office. Welcome to episode 13 of Talking Money, with Martin Bamford and Hannah Godfrey. In each episode of Talking Money, we take a topical look at the big money stories of the week, putting our personal spin on the news.

In this episode of Talking Money from Informed Choice Radio, we look at the Budget. The good, the bad and the bits that it will take more time to understand! We cover everything from extended furlough, more self-employed income support, sneaky stealth taxes through frozen thresholds, a longer stamp duty holiday, government backing for low-deposit mortgages, a corporation tax hike, and freeports. Welcome to episode 12 of Talking Money, with Martin Bamford and Hannah Godfrey.