The Retirement Café Podcast

Last week we discussed annuities, what they are and when you may decide to buy one. In 2015 new legislation - The Pension Schemes Act 2015 - took the pensions market by storm. Known as 'pension freedoms', the new rules gave you more options as to how to take your pension savings. Billy Burrows returns to the podcast this week to talk us through pension freedoms and what this means to you. We discu...

When the time comes to decide what to do with your retirement savings, you may face the difficult choice of either buying an annuity or entering into drawdown. Annuities have fallen out of favour since pension freedoms came into force in 2015, as many retirees took advantage of being able to access their pension funds in the way they wanted. But do annuities still have a place in the retirement in...

Did you know that you don't have to take your State Pension when you reach the State Pension age? There have been numerous changes to how you qualify for the full State Pension and when you will be able to draw on this valuable benefit. In this episode of the podcast, Justin chats with Rian Timmins, Trainee Financial Planner at MFP Wealth Management, who explains all the rules. This includes how t...

Dr. Noel Collins has learned that most distress for people with dementia doesn't come from the absence of some magic bullet. It comes from the challenges associated with care. As an older adult psychiatrist, Dr Collins has vast experience in the field of dementia as a specialism within gerontology. Gerontology is the study of ageing. We think about ageing as being a purely biological process. Actu...

Vanguard is an investment company not quite like any other. Vanguard was founded in the United States in 1975 on a simple but revolutionary idea: that an investment company should manage the funds it offers in the sole interest of its clients. This would lead to a fairer, lower cost investing model. 40 years and $3 trillion later, Jack Bogle's vision remains strong and the firm continues to change...

Paying for care is thought to be the second biggest financial commitment that we make during our lifetime, after taking our a mortgage. Navigating the care market is, however, a minefield, so this adds to the financial pressure people feel. Jacqueline Berry set up My Care Consultant to help people find the services they need, understand the funding available and secure any funding and, importantly...

Planning a funeral can be overwhelming, especially when you're grieving the death of a loved one. There are a number of details to take care of, from deciding what type of funeral you want, who you want to arrange it, to arranging funeral transport and choosing music and readings for the service.  Simon Head and his family firm, Head and Wheble, have been there to support countless families over t...

In the world of financial advice, George Kinder is known as the Father of the Life Planning movement. For over 30 years, George has trained thousands of financial advisers from 30 countries in life planning, which enables them to develop the listening and questioning skills that allow rich, meaningful conversations with their clients. Delivering people into freedom is central to the life planning...

The Mental Capacity Act states that a person lacks capacity if they are 'unable to make a specific decision, at a specific time, because of an impairment of, or disturbance, in the functioning of mind or brain'. If you think that an individual lacks capacity, you need to be able to demonstrate it. You should be able to show that it is more likely than not – ie, a balance of probability – that the...

The transition into retirement can be a hugely positive experience, but for some it can also be a challenge. Freelance journalist and author, Celia Dodd, spent months interviewing retirees to understand what makes a successful retirement. In our interview, Celia shares her findings. For many people, retirement is the first time they can do something that really matters to them. But finding your pu...

David Jones returns for part 2 of our conversation on investing and how Dimensional Fund Advisors can play a part.  We discuss how retirees can implement a successful investment strategy. David explains that clarifying goals is the first step, which enables us to establish the rate of return needed on your investments to achieve your goals. It's then important to select the most appropriate assets...

Thirty years ago when David Jones started out in financial services, he became acutely aware about the prevalence of high fund management costs and investment solutions that let investors down time after time. He transformed the business he was running to a fee-based practice and discovered Dimensional Fund Advisors . David is now Vice President and Head of Financial Adviser Services EMEA. He expl...

This week I share some of the latest goings on in the financial world and my thoughts on what this could mean to you. The topics covered include: The introduction of tougher rules for peer-to-peer platforms (those that offer loans to small firms using cash garnered from investors), and what this really means How a crackdown on banking overdraft fees will likely result in an end to free banking in...

As a dementia specialist, Mary's experience of death and the final stage of life became quite vast. By chance, she met Judy Carole Kauffmann, a specialist in end of life management, and together they wrote the award-winning book 'The End of Life: The Essential Guide to Caring'. Mary sees that everyone's experience of death and grief is different. When somebody dies, you're in shock. Even if you've...

This episode is a little different from most of my podcast episodes in that I don't have a guest with me today. In fact, this is the first in a series of episodes where I will answer the questions I'm asked most often about investing and the elements of investing where the most confusion tends to lie. My aim is to make what can be complex financial jargon into something we can all understand. Firs...

Charitable giving should bring great joy and fulfilment. It should make you feel empowered and excited about the good you can do in the world. Many of us donate to charity, but do we do it intentionally? Lauren Janus has spent more than 15 years working in the charitable sector and is the founder of  Thoughtful Philanthropy , a charitable giving advisory service, helping individuals and families b...

In this episode I welcome back Ken West MBE. Ken appeared on episode 2 discussing the world of natural burials. This time Ken chats about what makes for a successful retirement. Whilst not overly keen to retire, Ken's wife Ann suggested it was time, so at age 60 after 45 years in bereavement services, for which he was awarded an MBE, Ken made the transition. As a keen horticulturist, Ken planned t...

Mary believes that dementia wouldn't be so difficult if society dealt with it better. We tend to distance people with dementia, out of fear or a lack of knowledge of how to deal with people. If they were made to feel a continued part of society, maybe people with dementia would live a happier life? Mary Jordan has worked in the dementia field for many years, initially as a Dementia Support Worker...

Most people don't hire a financial planner in retirement because they can't work out what to do themselves, given the time and inclination. You hire a financial planner because they're not you . We all have our blind spots. And it's a real challenge for anyone to be able to manage money successfully themselves without becoming emotionally attached to it. You struggle to move forward because you pu...

At the age of 50, Edwina Brocklesby decided to run her first half marathon. Until that point, she'd done little running, and her exercise regime consisted of little more than chauffeuring her children to their own sports clubs. After that event, and following the loss of her husband of thirty years to cancer, she completed a marathon. Now, 76 years old, the past twenty years has seen Eddie take pa...

I was delighted to meet Professor Dimson at the Science of Retirement Conference earlier this year as I have had his book 'The Triumph of the Optimists' on bookshelf for many years. Elroy Dimson is Emeritus Professor of Finance at the London Business School. His research focuses on investing for the long term, and he has become well known for their studies of the investment performance since 1900...

Age defines us. Simple. That's how it's always been, but it's a belief system that George Lee is setting out to challenge. With her organisation  The Age of No Retirement , George and co-founder Jonathan aim to create a world where our age does not define us, by shattering age barriers and ageist stereotypes to create an inclusive future. George shares research findings and fascinating insights in...

After 18 years running the financial planning business he founded, Chris Budd was ready for a change of direction. Recognising he needed a new purpose and a way to exit his business, Chris stumbled across an organisation called the Employee Ownership Association. There, he found both. The solution to Chris selling his business so that it could continue to flourish – via an Employee Ownership Trust...

Only 7% of the UK population currently has a Power of Attorney in place. The rest of us are running the risk of having to resort to the services of the Court of Protection, if we find ourselves lacking mental capacity and not able to make our own decisions. Unfortunately, this happens too often. Your relative who seemed, until recently, to just be suffering from a few mild dementia symptoms, is no...

At 73-years old, Anne is one of the most active retirees I know. She is also my mother-in-law. Anne has experienced all manner of highs and lows since taking early retirement at age 57, something she never planned to do. Anne's motto is 'live the day'. In our interview she explains how her positive outlook has enabled her to deal with cancer, care for her husband of 50 years through heart failure,...