Headsup On Money

This episode covers the classic investing mistakes that money novices make. How many are you guilty of? Benjamin covers topics such as erroneously timing the markets, failing to keep an eye on your costs and worrying too much about taxes. 1-10 will be covered in this week's episode, with 11-20 covered next week. Here's the resource mentioned in this episode.  Join Benjamin Mitchell (them...

Would you rather have a minimum, moderate or comfortable standard of living in retirement? Silly question? The strangest thing however is so few of us actually start planning with the end in mind. Have you ever actually considered 'how much' you'll need in retirement or are you saving blindly every month and hoping for the best?! Here's the research mentioned in this episode. I...

We're entering a phase of increased noise and distraction in the UK at the moment.  But what do you need to be thinking about as we near our next general election?  In this episode Benjamin explains why politics should be regarded completely separate to your financial plan.  We can become engrossed in short-termism and home country bias.  This episode will help you to take a necessary step ba...

This episode concludes our 'mini-series' on risks to be aware of in retirement.  Longevity risk is the risk that your investments won't last as long as you live.  So what does that mean for your financial plan?  In this episode Benjamin explains the real risk is the risk of 'low returns' and if you are to have any chance of combatting longevity risk then you need to stay t...

In last week's episode Benjamin explained that the risk of running out of money doesn't just come down to market risk. You need to understand something called 'sequencing risk'.  Fear not, it's not as complicated as it sounds. It is however a tricky issue to navigate in any retirement plan, so arming yourself with the fundamentals is key.  Fortunately this episode helps yo...

So you've worked hard all your life to build up a healthy level of investments and pensions. Naturally, the biggest worry you'll then have is how to make sure your wealth lasts for life. How can you avoid running out of money when there are so many unknowns?  You don't know how long you will live You don't know how markets are going to perform You don't know how inflation...

In this episode we take attention away from the good practises, behaviours and actions you should adopt with your financial planning and instead take a big step back to ask what is it all for? Have you asked yourself these important questions?  If not, then now is the time.  If not today then when?  Join Benjamin Mitchell (themoneyscot), serial hater of financial jargon, as he helps make your fina...

In this episode Benjamin explains what is meant by investing in gold and why doing so could be a costly distraction to you securing long term financial independence. As you'll see, gold doesn't glitter quite as much as you may think it would...  Join Benjamin Mitchell (themoneyscot), serial hater of financial jargon, as he helps make your finances clearer and ensures you never make anoth...

One of the most common questions my clients ask me is: 'should I invest more in property?' Property is a solid inflation hedge, can offer rental income and capital appreciation and can nicely diversify your stocks and shares portfolio... BUT. Are you aware of the drawbacks before you embark on this potentially costly and hassle heavy strategy?  Benjamin explains everything you need to kn...

Taxes, taxes taxes. Nobody likes paying them, but they're an inevitable part of any good financial plan.  In this episode Benjamin explains why focusing solely on taxes can be detrimental to your plan and why there are more important ingredients for success.  What are they? This episode explains all.  Join Benjamin Mitchell (themoneyscot), serial hater of financial jargon, as he helps make yo...

Time is money.  Timing the market beats time in the market.  Want to know how 5 years can cost you £119k?  This is the episode for you.  Don't procrastinate and say you'll listen to this tomorrow. Act now!  Join Benjamin Mitchell (themoneyscot), serial hater of financial jargon, as he helps make your finances clearer and ensures you never make another financial mistake. Getting on top of...

You've heard of 'funds' before but how confident are you on what it actually means?  Funds are vital building blocks for your long-term financial plan, but you need to understand what they are and which funds are suitable for you.  In this episode Benjamin shares the summary in a classic no-nonsense, no-waffle way . By the end you'll be far more confident about what to do next....

The Money Purchase Annual Allowance (MPAA) is one of the more bizarre rules and common trip hazards when it comes to our pensions.  You need to understand what it is before you take any pension benefits from a pension.  Why? Because triggering the MPAA can result in costly complications and hefty tax charges.  Fear not though, it's not as complicated or dull as it may seem.  Benjamin explains...

Pension lifestyling is an investment strategy that automatically moves your pension out of 'higher risk' assets into 'lower risk' assets as you reach pension age.  It makes sense doesn't it?  In this episode Benjamin explains why you need to go into this strategy with your eyes open and how a simple tick-box could end up costing you thousands over your investment lifetime....

The child benefit system is changing for the better.  In this episode Benjamin explains what child benefit is and the nasty 'high income child benefit charge' that often arises.  Are you aware of the changes coming into effect and what this might mean for your family?  Consider this your official no-nonsense debrief.  Join Benjamin Mitchell (themoneyscot), serial hater of financial jargo...

Shares are great for building long-term wealth and beating the Terminator of Wealth that is inflation.  But they also have quite a few drawbacks too, which can cost you.  Luckily there is a solution.  Benjamin explains what that is in this episode.  Join Benjamin Mitchell (themoneyscot), serial hater of financial jargon, as he helps make your finances clearer and ensures you never make another fin...

How do you make sure that your loved ones get their hands on your pension in the most tax-efficient way?  This is so easy to do but yet so many of us just aren't aware of it.  Your pension doesn't fall under your Will, so you need to be aware of this.  Listen for the only summary you need to know, as always sans financial BS!  Join Benjamin Mitchell (themoneyscot), serial hater of financ...

It's the most important time of the year when it comes to personal finances. The new tax year is almost upon us. Are you aware of the freebies and allowances you'll lose come the 6th of April? Act now before it's too late (well... perhaps listen to this episode first!) Warning - this episode contains horrific singing.  Join Benjamin Mitchell (themoneyscot), serial hater of financial...

There is a lot of  bull**** out there in financial services that is aimed at capturing your short term interest and taking hefty fees for the privilege.  Our industry is 95% marketing!  Keeping it simple can be incredibly hard when you want short-term rewards.  But you need to avoid these distractions at all costs. Your long-term financial life plan depends on it.  Join Benjamin Mitchell (themoney...

The humble cash ISA is one of the most misunderstood financial products out there.  If you don't really understand what an ISA is, let alone whether it's beneficial for you, then this is the episode for you.  You can expect Benjamin's usual approach of binning the jargon and telling you what you truly need to know.  Join Benjamin Mitchell (themoneyscot), serial hater of financial ja...

In this episode Benjamin talks about the importance of making good decisions when it comes to your money.  But with an infinite number of possibilities, how do you know which path to take?  Benjamin brings this to life with help from Oliver Burkeman's bestselling book 'Four Thousand Weeks'.  What if, what if, what if ...  Join Benjamin Mitchell (themoneyscot), serial hater of financ...

This probably seems to good to be true and you're wondering what the catch is...  Benjamin explains all in under 10 minutes. As you'll see, the headline 67% return isn't a fairytale, it's perfectly within your grasp.  Join Benjamin Mitchell (themoneyscot), serial hater of financial jargon, as he helps make your finances clearer and ensures you never make another financial mista...

If you have a pension through your work, then you need to know how it's set up. You could be missing out on free money from the government and potentially saving £000s on your tax bill every year. In under 20 minutes you'll know the fundamentals and how you can take this forward to save yourself money. Here's the link I referred to at the end of this show.  Join Benjamin Mitchell (t...

You'll no doubt have heard of the FTSE or 'footsie'.  It's important to know what it is, but you also need to understand it's limitations and why worrying about 'what level the FTSE is at' is a pointless strategy.  Learn all you need to know in 10 minutes.  Who said finance needs to be complicated? Join Benjamin Mitchell (themoneyscot), serial hater of financial...

Financial life lessons from the late, great Charlie Munger.  Charlie died with a fortune of over $2 billion. But what were the secrets to his success?  Did he think he could time financial markets? Nope.  Was he smarter than everyone else in the room? Nope.  Was he just trying to be 'consistently not stupid' ?  Tune in to find out.  Join Benjamin Mitchell (themoneyscot), serial hater of...