The Savvy Wallet with Ato Jay

In this episode we have Pete Matthew a 27-year veteran Chartered Financial Planner and the creator of Meaningful Money where he has developed over 600 videos and 550 podcast episodes, helping countless people understand how money works and how to make it work for them and he’s the author of “The Meaningful Money Handbook”.

In this episode we discuss:

– Stocks and Shares ISA vs Workplace Pensions v SIPPs

– How to much money you need in your pension to retire

– What to invest in your pension

– Living now vs investing in your pension

– How to avoid the UK Pension crisis and much more

Connect with Pete:

https://www.youtube.com/@MeaningfulMoney

https://meaningfulmoney.tv/

📩 Sign up to my mailing list to be the first to know about upcoming events:

http://eepurl.com/hJEcLL

🤝 Sponsor

Yesim – Get €5 off any plan with my code: savvy5

https://bit.ly/41OAO6i

Tide – Earn 3.81% AER Variable on your business savings here:

https://glnk.io/91954/ato8fr

You’ll get a free £100 when you use the code ‘SAVVYWALLETQ1’ and fund the Instant Savings Account with £5,000 within the first 30 days. Ts&C’s apply.

New Tide members receive a 0.77% AER boost on the standard 3.04% AER on unlimited balances until 01/06/25, after that the standard rate applies with no interest earned on balances over £75,000. Rates correct as of 06/02/2025. Terms and conditions apply. Visit tide.co/savings for up to date rates.

Invoice Home – Create a FREE invoice with hundreds of templates here:

https://invoicehome.com/to/savvy-wallet-audio

➡️ Follow Savvy Wallet on:

Instagram: https://www.instagram.com/savvywallet

TikTok: https://www.tiktok.com/@savvywallet

🤝Partners

Check out our partners who offer Stocks and Shares ISA and more:

⚡️Trading 212⚡️(The investing platform I use)

Get a FREE fractional share worth up to £100 when you open an ISA or invest account and deposit at least £1, using my link: https://www.trading212.com/join/SAVVY

If you don’t get the free share automatically after depositing £1. Use the code “SAVVY” in the promo code box. You can use this code for up to 10 days after opening the account.

When investing, your capital is at risk. Tax treatment depends on your individual circumstances and regulations which may change. Other fees may apply.

⚡️Hargreaves Lansdown ⚡️

http://hl.7eer.net/B0mz50

Capital at risk

⚡️Interactive Investor ⚡️

https://prf.hn/click/camref:1101l3RTLM/ar:SW

Capital at risk

Some of the links are affiliate links which means that we will receive a small commission if you make a purchase, however there will be no additional charge to you.

00:00 – Preview

01:19 – Intro

01:55 – Meet Chartered Financial Planner Pete Matthews

05:44 – Money advice that changed my life 

10:56 – Yesim Ad

12:01 – Why pensions are so powerful

18:30 – How does money in a pension grow

21:51 – Tide Ad

23:16 – Cons of putting money into a pension 

27:53 – What’s the difference between a stocks and shares ISA and Pensions

30:08 – The amount you can put into a pension without getting taxed

34:57 – Invoice Home ad

35:57 – What’s a Self Invested Personal Pensions (SIPP) ? 

38:08 – This is the problem with a workplace pension…

39:10 – Why you need to contribute to your pensions

39:59 – What investments should you have in your pension?

48:39 – How does your investing strategy change approaching retirement?

58:20 – Example: How much pension would A 35 year old with a £37k salary get?

01:05:25 – How to figure out how much you need when retired?

01:08:39 – How to reduce tax with a pension if you’re self-employed 

01:12:06 – Why is it important to invest early in your pension 

01:15:54 – How to balance living for now vs investing in your pension

01:18:58 – How to minimise your pensions fees 

01:22:26 – You don’t need more than one pension pot

01:25:38 – UK Pension Crisis

01:30:30 – What to consider aside from pension

01:37:46 – Budget changes for the pension

01:42:22 – Pete’s Pension book

01:44:26 – Final Words

Learn more about your ad choices. Visit megaphone.fm/adchoices