Financial advice is all over the internet, but can it be trusted? Watch out for these red flags

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With just a computer, internet connection, and the right skills, individuals can create ... make money online quicklyHow to make money online right now ...

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Listener Questions – Episode 42

Questions Asked

• Question 1
  Hi Pete and Roger,

  Thank you for your amazing podcast!
  My question is about budgeting & savings percentages:
  Should you aim for a % of your gross pay or your net pay when it comes to aiming for a savings percentage? e.g. Invest 20% of gross or net?

  I'm self employed and work contract to contract. From each contract payment I have to give 25% to agents and lawyers. Then I get paid the rest and have to put aside some of the money ready for the Tax man.

  When planning for how much I should save / invest from each contract payment should I be putting aside:
  20% of the original contract amount? (which would be prior to the agents taking their cut and prior to the tax man taking his cut?)
  20% of the amount left after the agents but prior to the tax man?
  Or 20% after both the agent cut and tax man cut?
  Thank you! Isabel

• Question 2
  I am a 70 year old widow with no children.  My current net worth is about £2 million. This is made of of a house (£500,000), savings and investments (£1,150,000) and a drawdown pension pot of £350,000 which I inherited from my husband.  My husband died aged 68 so the pension pot is currently tax free.

  I plan to leave our inheritance tax free allowances of £650,000 to family, mostly nephews and nieces and the reminder to charities.  The drawdown pension will also go to named family members until the rules change in 2027 after which this will also go to charity.   I understand that this would mean my estate wouldn’t be subject to inheritance tax.  Am I right about this? Is there anything I might not have thought about or any flaws in my thinking?

  Thank you for your very informative podcast,
  Susan

• Question 3
  Hi Pete and Roger,

  I’m still catching up on the back catalogue and am still loving the show, the listener questions are a great alternative, absolutely brilliant

  My mind has been wandering as it usually does, and this time thinking about my retirement plan and what dividends will look like at retirement. I have some queries I would love you to clarify please if possible.

  As it stands I have a combination of SIPP and stocks & shares ISAs all globally diversified with various stocks and ETFs etc and also a NHS DB pension. I’m about to turn 49 and planning on a retirement at around 60. I’m trying to plan in the most tax efficient way (obviously this may change with future governments). For now though I am trying to max out my ISAs regularly for the tax free benefits and in particular focussing on a goal of using global ETF high yield dividends as income annually at retirement. I have a Vanguard SIPP with 3 ETFs. I plan to take the 25% tax free amount from this when I retire. The rest (75%) I plan to leave as is, in the same ETFs and as they will hopefully still be paying dividends, I am a little confused as to how these will be regarded, such as for tax purposes? My assumption is the dividends will be added as cash to my now 75% remaining pot and then if I start to drawdown on this then I guess I will be taxed as normal depending on my tax status at the time only on what I drawdown as income. However when the dividends are added to my drawdown (75%) portfolio will this be part of my annual tax free (currently £500) dividend allowance OR will they not count as they are in my “pension pot” (and not classed as income) as is the case currently pre-retirement?

  At the present should I actually be adding the dividends that I currently receive in my pension pot to my annual tax free allowance (£500 for me)? (I assumed dividends in a SIPP don’t need declaring/adding up towards your annual tax free dividend allowance).

  I hope that all makes sense?
  Thanks for all your work with the podcasts and Listener Questions too, you guys are awesome!

  Cheers lads,
  Jon

• Question 4
  Dear Pete and Roger,

  I've just turned off lifestyling on my pension thanks to your excellent podcast and videos. You may have saved me thousands so many thanks!

  I now have a cunning plan!
  I work for a university and have a hybrid pension with the Universities Superannuation Scheme (USS).

  Payments for my regular defined benefit (DB) pension are made via salary sacrifice. I'm also making additional voluntary contributions to the defined contribution (DC) part of USS, also by salary sacrifice. I've increased these DC payments to a level where my reduced effective pay is just above the level of the National Living Wage.

  As all my USS contributions, DB and DC, are made by salary sacrifice, they count as employer contributions. As I understand it, I am also allowed to make employee pension contributions to an entirely separate SIPP up to the full level of my Relevant Earnings, which in my case is my salary alone. Is that correct? If so, am I allowed to make employee contributions up to the level of my original salary (before salary sacrifice reductions)? Or am I only allowed to make employee contributions up to the level or my reduced salary (after salary sacrifice), just above the level of the National Living Wage?

  Is my plan a sound one or is it a cunning plan worthy of Baldrick?
  I'm 54 years old and a basic rate tax payer with a salary of about £37,000 per annum. I do not expect to be promoted.

  Simon

• Question 5
  Hi Pete and Roger,

  Long time listener and watcher on YouTube and think it is absolutely wonderful all the free good advice you put out there. I hope you give yourselves a pat on the back for helping so many people build their wealth and no doubt have a better future in their latter years than they would have had without you.

  As I reach a certain age I am pondering a strategy and was wondering if you could advise if this is a flawed approach, letting the tax tail wag the dog or perfectly valid. I've never heard anyone suggest it and can't believe that I have an idea that experts haven't thought of.

  It involves recycling tax free lump sums from an existing DC pension. My understanding is that you have to “break” ALL the conditions to breach the recycling rules and the one I am considering not breaking is “tax free lump sum is less than £7,500 in any 12 month period”.

  The idea is this:
  – Crystalise 30K. £22.5K into a drawdown pot and left untouched so as to not trigger the MPAA. £7.5K tax free cash withdrawn
  – Take the £7.5K tax free cash and recycle it into a new SIPP
  – Benefit from 40% tax relief to gain an additional £5K
  – Do the same a year later and repeat until actual retirement

  If I did this for the 10 years between first accessing my DC pension and retiring from employment at state pension age that's an extra £50K “free”. The only downside I can see is that by crystalising you remove a portion of your existing DC pot from being able to have a 25% tax free slice of a bigger pie in the future. However I would have thought by putting the tax relief and tax free cash into a new SIPP, plus 25% of that total being tax free second time around when withdrawn, it would outweigh the downside, particularly if you think you're going to be a lower rate tax payer in actual retirement. Any thoughts gratefully received.

  Keep up the great work and fantastic content.

  Kind Regards, Tom

• Question 6
  Hi Rodge & Pete
  Love the energy of the show, both educational and also very funny one of my favourite financial podcasts!

  I recently purchased my first home solo at 35 on a 39 year mortgage term which takes me above the standard retirement age and I do hope I am not working full time by the age of 74. I went with the longer mortgage term to keep monthly costs down initially with the plan to possibly review this when my fixed term comes to end in 2030.

  I contribute monthly to my S&S ISA currently £200 with the plan to double this in 2026 but should I be diverting some of these funds instead to overpay the mortgage? I’m conflicted about this as I believe I will get better returns on the S&S ISA over the 39 year period vs saving interest on the mortgage.

  I currently contribute to my employer DC pension and also have a fully funded 3 month emergency fund so any spare cash can be put to work for my future.

  Thanks, Chantelle

Send Us Your Listener Question

We’re going to spin out the listener questions into a separate Q&A show which we’ll drop into the feed every 2-3 weeks or so. These will be in addition to the main feed, most likely, but they’re easier for us to produce because they require less writing! Send your questions to hello@meaningfulmoney.tv Subject line: Podcast Question

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The post Listener Questions – Episode 42 appeared first on Meaningful Money – Making sense of Money with Pete Matthew | Financial FAQ.

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The Regulated Dollar: A Deep Dive into Circle Internet Group's (CRCL) Post-IPO Surge

Founded in 2013 by serial entrepreneurs Jeremy Allaire and Sean Neville, Circle began with a vision to make money work like the internet—open, global, ...

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No Bullsh*t Money with Andy Hart

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War, Markets and What’s REALLY Important

In this episode we talk about why markets always seem to be facing a “crisis”, from geopolitical tension and wars to inflation scares and economic uncertainty, and why that is not new. We break down how financial markets tend to price bad news faster than most investors can process it, and why emotional reactions often do the real damage. If you’re investing in the UK and feeling shaken by the current headlines, this video will help you keep perspective, avoid costly mistakes, and stay focused on long‑term wealth building.

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Listener Questions – Episode 41

Questions Asked

• Question 1
  Hello Pete, Roger and team.

  I'd first like to say thank you for all the wonderful information you provide, it has been a great aid for increasing my financial intelligence and helping me secure my family’s financial future.

  My question is regarding the benefits of a SIPP vs a LISA in terms of retirement.

  My understanding is they both benefit loosely from the same boost. 25% Boost for LISA and in effect 25% boost to a SIPP due to the 20% tax relief as a basic rate tax payer? They are both locked away for a long period and are both released early if I was to suffer from any serious ill health or death?

  Due to this is there any benefit I am overlooking in terms of a SIPP over a LISA invested in a world wide fund? Other than age of access?

  I am currently 36 and due to the increasing demands of public finances it would be logical to assume a possibility of the state pension age being raised above 70 (above 60 if taken early) or becoming restricted to who can collect (means tested) before I am to reach pension age. Whereas I would be able to claim a LISA at 60 regardless with the added benefit of it not being subject to tax?

  I have a generous company pension of 6% personal and 13.7% company contributions with an additional 1% matched salary sacrifice. I also put in an additional unmatched personal 3% contribution.  As well as a small military pension. so I would not be without a pension at retirement.

  Due to this is it worth hedging my bets by maxing my LISA contributions rather than a SIPP to cover potential future scenarios?

  Apologies for the long winded question and I hope it makes sense.
  Thank you, Adam

• Question 2
  Hello Pete and Roger!

  Thank you for your wonderful podcast, I started listening several years ago and have found your advice incredibly useful.

  I am here to ask a question about planning a future for a disabled child. My husband and I are in are late 30s and we have a 5 year old daughter who is autistic and has profound learning difficulties. The challenge we have is how to plan for her future care and our future careers with so much unknown.
  We both work full time and are currently both basic rate taxpayers (although we are both getting close to that boundary). We receive child benefit and some DLA for our daughter. When our daughter was born we started saving small amounts regularly into a JISA for her, but as her disabilities became clear we switched and started saving money for her within our own S&S ISAs. We still put money into her JISA when she gets gifts from grandparents etc as it seems disingenuous to keep that money under our names. We have an emergency fund, workplace pensions and are saving regularly into S&S ISAs, as well as mortgage that will last until we are about 60.

  Is there anything we should be thinking about or trying to plan for our daughter's future. At this stage, it is difficult to determine how much she will understand about money and investing or whether she would have the capability to work or live independently. It may be that she will be under our care for the rest of our lives. It is also possible that one of us may need to reduce working hours or stop working when she turns 18 and needs care after she leaves school. Is there anything you think we should consider or advice on how to navigate the unknown? We are in the process of putting together a will and in the event of something happening to both of us, the care of our daughter would be covered by my husband's sister, but unsure how to navigate the financials.

  I appreciate that there are several questions within this question but any advice or areas that we can research on ourselves would be appreciated.
  Thank you so much, Laura

• Question 3
  Hello

  First of all, thank you both for your wonderful podcast. I have learned so much.

  I have a question about the order in which to spend in retirement and how to hold our various investments. We have worked out a cashflow ladder using cash, short-term money markets funds, a defensive mixed asset fund, a 60:40 mixed asset fund and a 100% equity fund. But we also need to think about our various wrappers- about half of our investments are in DC pensions (mine and my husband's), a quarter in ISAs and a quarter unwrapped (which we can gradually move into ISAs).

  Is there a rule of thumb for how much of each investment should be in each wrapper? I'm also not sure about what we should be spending first- assuming no disasters we are hoping to give some money to our children before too long for IHT purposes. But if we take a large sum out of our pensions to do this, we'll pay 45% income tax on it which makes the IHT saving a bit pointless. So should we be making any gifts from our ISAs and using the pensions first ourselves (taking care to stay within the basic rate)? Any advice would be appreciated.

  Thank you
  Elizabeth

• Question 4
  Hi Roger (and Pete!),

  Firstly, thank you from the bottom of my heart for the education you provide to me and so many others. You’ve really helped me sharpen my financial tools. After spending the last 12 years self-employed, I didn’t take my personal finances too seriously. Now that I have a steady, “grown-up” job, I’ve been able to get organised. I have a workplace pension, a private pension, a Stocks & Shares ISA, and a Lifetime ISA, all thanks to what I’ve learned from you both.

  My question is about Junior SIPPs. I often come across opinions suggesting that these should be the last thing you do, only after every other financial base is covered.

  I didn’t receive a financial education growing up, and there’s no pot of gold or property waiting for me down the inheritance road. That’s why I’m motivated to change the course of my children’s future — even if the benefit is far down the line. For a relatively modest target amount £15,000 each at age 18 (they are currently 1 and 4), I believe my children could have a very strong footing in later life due to the extensive length of compounding available, even without continuing contributions beyond that point, or perhaps with me matching their own contributions as an incentive in adulthood.

  I believe this will take some of the pressure off them which I currently find myself in having to aggressively play catch up on my retirement plan. They also have Junior ISAs, which I contribute to each month, to give them more flexible money when they turn 18.

  Their future stability would mean the world to me, even if I won’t be here at that point to see them enjoy it!

  I’d love to hear your opinion on Junior SIPPs, as I don’t think this topic is discussed enough — and it sometimes feels dismissed altogether.

  Thank you, Steven

• Question 5
  Dear Pete and Roger,

  You do marvellous work in educating us all. Thank you.

  I am a company director with 9 alphabet shares. 5 for me, 2 for my wife and one each for my adult independent children.

  I have substantial IHT liability so want to gift my shares to my children. The company has seven figures invested in the stock market.

  Can I gift the shares? How do I go about?

  Will that help reduce my IHT liability if I survive 7 years after gifting? Will there be a CGT liability on the gift?

  The company still trades but is unlikely to qualify for BADR (Business Asset Disposal Relief) as majority of assets are in investments.
  Thanking you, Narendra

• Question 6
  Hi Pete and Rog,

  Firstly, thanks for all that you do, your podcasts, videos and the Academy have really changed mine and my family’s life for the better.

  A pensions drawdown question: If you plan to use all of your tax free allowance on retirement. Am I right that there are no benefits to using UFPLS over drawdown?

  I think there used to be a benefit with the lifetime allowance but I can’t see any other benefits now.

  Thanks for all that you do, James

Send Us Your Listener Question

We’re going to spin out the listener questions into a separate Q&A show which we’ll drop into the feed every 2-3 weeks or so. These will be in addition to the main feed, most likely, but they’re easier for us to produce because they require less writing! Send your questions to hello@meaningfulmoney.tv Subject line: Podcast Question

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The Most Expensive Investing Mistake

Take the Behaviour Gap test and in the PDF that gives your results, there’s a special link to Meaningful Academy with a very special discount.

Behavioural Bias
1 .Performance chasing and recency bias
2. Loss Aversion
3. Overconfidence
4. Action Bias

Morningstar Mind The Gap US report – link to study

Morningstar Mind The Gap report – summary article

DALBAR Quantitative Analysis of Investor Behaviour (QAIB) study – press release

Barber & Odean – Trading Is Hazardous To Your Wealth

FCA Occasional Paper OP66 – Playing the market: a behavioural data analysis of digital engagement practices and investment outcomes

Vanguard Research: The value of personalised advice
in the UK

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Can You Really Make Money Online in 2026? The internet has created countless opportunities to earn from anywhere in the world—but is making money ...

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If you're looking into how to make money through online poker and gambling in India, you've come to the right place. The world of online betting is ...

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Circle Internet Group(NYSE: CRCL), the issuer of the USD Coin ... How does Circle make money? Circle's USD Coin, a cryptocurrency pegged ...

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Don't forget, gambling is entertainment, not a guaranteed way to make money, but hey — with some luck, everything's possible. Автор: Robert ...

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