Returning from Sabbatical: Deep Dives into Finance, Property, and Life Updates

WEBVTT
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And just like that we're back.
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It's been a while.
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What date?
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13th of April, the last one went out, live, live went out.
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I've done my time.
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I'm back out on remand.
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Can't say that you wouldn't be back out on remand.
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You'd go on remand, sorry, yeah, yeah.
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You'd be watching those police, 24-7 in custody.
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You're new again.
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Absolutely Loads them Along with Bargain Brits, bargain Loving Brits abroad.
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I like that.
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Bargain Loving Brits by the season.
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Bargain Loving Brits abroad.
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They live in the caravans out there.
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And the ones that look to go on by the houses abroad.
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You know, mary, and Don.
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There's a new one of those on at the moment.
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It's a family business have you seen that yes.
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Mary and Don are looking for a five bed, four bath with, you know, overlooking a sea view, and they've got 87 and a half thousand pounds to spend.
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Yeah, they want to write in the prime of Marbe, the one on the Marbe, what I'm trying to work out is do you apply for these?
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Do channel four or whoever Send you over there and put you up?
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And then, because no one ever buys, well, we all be paid for.
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So have you had a chance to think about this?
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Yeah, we love House Three and we're going to go back now and we're going to speak to the family.
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What do you need to speak to them from?
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I've just got a free holiday for four days out of here.
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I'm going to know that many of those actually go through.
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They should do one of those follow up programs like they do with the Dragons Den, which ones actually went anyway, absolutely, because we know they don't all go to.
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We, we know that.
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We know that very well.
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And now Not that we've been on Dragons Den.
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Now, since everyone that voted out of Brexit, isn't the new changes happening?
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Well, it's a 90 day and 180 rolling now that you can only live in places like that and you have to be very careful.
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And from September, is it?
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You're going to have to start paying a visa to go to these countries Really?
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Or September 24 for not Offers?
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Good England, okay, anyone, any, any, any non European people will have to pay a European tax to get into Europe.
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So we have to pay to actually get into Europe.
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You go to Spain next year, you're paying.
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I think it's a seven quid a pop, but it's an online registration and all that.
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It's 28 quid.
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So it's literally like going inside the congestion zone in London.
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Now is it?
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You got to pay.
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Yeah.
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Well, actually everywhere in it.
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You got to pay a new port a new.
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Bristol bath, new ports.
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I don't want to go there.
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Anyway, I can say that's from there.
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It's been a while since we've been Well 33.
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How?
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long is that now May?
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June, July.
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Well, well, we back for good though.
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This is where we put the bit of take.
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The longest probably break we've had.
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In three years.
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It was about it was 2020.
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Yeah, we started April 20th, april 2020.
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We started, yeah, yeah.
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I only know that because I don't like it it's not couple of episodes.
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Yeah, be someone on that.
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One cross all podcasts well.
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I will.
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We are back and it's gonna be a little bit more the same, but we're gonna give away a lot more stuff this time, a lot more what's inside our brains, what's inside our heads about business is the main financial planning.
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You said money the last day, didn't somebody?
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say you were rugby.
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You're one of the two guys that do the podcast.
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You had a wedding the last day, weren't you?
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Yeah, and somebody mentioned it.
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Yeah, people listen people listen thank you for the three things recently.
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Thank you for three people.
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I mean a few things recently where they've kind of said you bring the podcast back, and so I thought let's get the band back together yeah, absolutely it's a small band, it's a two piece there's a one-man band as well we've done a few solo ones on me yeah, you probably more than me yes, yes, don't.
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You don't enjoy them.
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There isn't as much fun.
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You know it's a monologue and people, people don't even want to listen to me.
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You know, here, in a joint episode, in a joint episode, how they put up with me and I'm on a well, he's never listen to us talk about rugby.
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This time around, yeah, because we're not doing rugby.
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I'll be back soon because we got games coming up now in the summer next, next week, I think.
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I don't want to watch it?
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Would you go to France if you got a ticket?
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Would you go to France for a game, all expenses?
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no, after what you just told me, now you have to pay to get in.
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I think it's.
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I think it's next year oh, is it okay I know, I know the good, bad and rugby boys are doing a cruise.
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How much fun would that be.
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Four or five days, two games been taken in oh yeah, with all the booze and beer.
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Yeah, because, because we do a lot of drinking these days excuse me, can I, can I have a very diluted Chandi please?
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what he told you totally but it that would be a lot of fun.
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It isn't cheap.
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I saw that the numbers, but I don't know if they is a commandeering, a full cruise.
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That would be a lot of people well, I can't imagine they're on one of those pedals no, I can imagine on a cruise with a load of over over 50s on their retiree holidays.
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So half is for them, half is for the good, the bad and the right.
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Because you imagine that how school the speedos?
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they've done some very good ads for it and they've done the the Titanic and that and you've got the two boys you know in the the songs now.
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But it would be, it would be lots of fun going on and I put just see how many will actually go on.
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That it'd be interesting.
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I think it's like a marathon.
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I think you have to do a lot of training in advance for that and I have no training done, I think I think I'd be, you know, substitute one night, and I'd be right, but after that I'd have stayed in bed.
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But and two games involved in that, but I don't know what games there are.
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But so what's been happening, then?
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you've been playing a lot of golf, haven't you any better than.
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I played golf this morning in the rain and now this afternoon it is a bright.
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Golf is a game of it's it's.
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70 emotions emotions, it's 72.
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Well, not for me it's a hundred and a hundred games in itself, because each shot is a game and you can't let emotion get the better of you.
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And I give you an example.
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Today I was speaking, I was playing with a guy we know, josh and I was pouring down and my three would.
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I pinged it and it went from right to left.
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It bounced and waited on the fairway.
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I measured it, it was lovely, it was 247 yards.
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Granted, it was downhill.
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I'm strutting down like a peacock.
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I'm going.
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Oh, you know, I am the best golf from the world.
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Now I've got 200 and something like 11 yards to go on the par 5.
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I've already hit a 247.
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I hit shot 2, shot 3, shot 4.
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So remember, I have 211 yards to go on my fifth shot.
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I've got 207 years ago.
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So, michael, that is, you can get in a trio.
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So you're just.
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I could not hit it one shot today.
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Now, if anyone plays golf, try this.
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I've never done it before.
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I try to knock the spots off the golf ball today.
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You know, when you try hard and I know I shouldn't have so smooth, smooth as fast yeah, and I hit the ball.
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Don't know how I hit it.
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The club followed through just an an arc, exactly as you would normally, and the ball hit my left shin, which is 90 degrees away, and I'm I've.
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No, that's how the.
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So when you ask, how is the golf going?
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Shockingly bad, but it doesn't matter.
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It poured rain, I got soaked, but I'm out golfing.
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I can't play in the wet, I must full-on fear weather player it was superb.
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It was superb.
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As you know, I've just come off a call there getting an invite for tomorrow and I just can't do it.
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I'm getting the bug now.
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I'm not playing well at all, but I don't care.
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But there's some good shots.
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But yeah, summertime superb.
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Winter time I'm not.
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I'm not a fan of being wrapped up to the end degree.
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Your, your, your.
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Movement is restricted, um so, no interest.
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Like me, when we played the other day like with that water who go down, which wasn't a coffin, I couldn't move my arms properly in it to swing the thing.
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So you've got to have the right kit as well the normal to do at the moment is a lot of this body weight exercise, and I was of the opinion before yeah, this is, this is so easy, you know.
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Do you know?
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10 of these, 15 of these, 12 of these, take a 30 second break.
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It's not like lifting weight, oh my lord.
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It is so bloody hard to do, but it's lots of fun.
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Got a.
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I've got 1.3 kilos off in three weeks my shoulders as well I'm trying to put.
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I want to put some naan, not take it off well, that's easy.
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I can help you with that.
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Have some of mine so can johnny greg across the road yeah, that's the problem, and luckily we don't go there, so we moved offices moved offices nice big, bright, cold um offices.
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Well, it's all right in this weather, don't it?
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It's cold, it doesn't get like, don't need a acorn, it's nice, um nice, but it's not told by the carpet, it's gonna.
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It's gonna bug me for the rest of the year we'll have to put some picture on social media.
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Yeah, we I think we're gonna put some newspaper down over the um, the stains on the carpet which is here, from where we got it from, it was an hour carpet.
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It's what came with the building.
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We've managed to decorate it.
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We're probably at about 90% decoration there.
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We're just waiting for our branding on the walls to be sorted, aren't we?
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yeah, it's gonna.
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It's gonna look nice.
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It is a lot bigger, um we're gonna do some events here, aren't we?
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yes shame on the pool table, the swimming pool, the spa.
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It's cozy, I dartboard.
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I'm thinking I was speaking to joff today and and in between the bad golf shots he mentioned.
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Um, there's a new placing card.
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If opened, remember jjb on queen street yes, it's got.
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It's got darts, shuffleboard, all that stuff and that's shuffleboard.
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That's what he was trying to explain.
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I went yeah, I've looked at them.
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He said they're brilliant.
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I said they're shuffleboard, the one we played in that one underground six.
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I said six and a half grand for it and you gotta for a shuffleboard.
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Shuffleboard, but you can make one.
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I think my dad could make one absolutely he gives out.
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Yeah, there you go.
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Yeah, it's the oil that you the cost of fortune as well but he can do that there you go.
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Yeah, we'll.
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We'll go somewhere um.
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We'll have an event on.
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We'll go somewhere, we'll take a lot of pictures oh, it's again off the internet for him.
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You're fine, bring the you're probably measuring tape on on tinderweb, you'll uh, you'll probably find some sort of um diagram of how you can make one.
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Maybe if I'm in there, if I'm in there, can I could he make it in three weeks, do you know what he'd be?
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In his element.
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Yeah, he's not gonna win, really that.
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That would be superb, do you?
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Know what if you want to out pick a little I'm gonna say they're about three, three and a half four foot tall, but probably at a 15 foot long, something like I don't know where you're gonna put that, though, when she's, when she's done with it 15 foot well, I'm six foot playing an egg, right okay?
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yeah, they are long, um, and I and I'm saying it could even be longer than that, um I guess you can make it so it can be folded up and folded down from the edges um an impact on the, the slidiness, then I don't know yeah, I've never seen one of them before, um, until recently, and they do look superb.
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They just it's a bit like golf.
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I've seen guys play it.
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It's really really horrible, because it it's.
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It sounds difficult to get it.
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Yeah, it's gotta be shiny the right.
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You just stick to that board pool table.
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But yeah, um a few, a few events happening then, hopefully over the next, yeah, in the office go room.
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We've got a area where we can do some events and invite people down.
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Make it a little bit different.
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We'll uh, we'll do some online events again I think and I keep harping on about it a lot on more.
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So, linkedin this cost of living crisis, of which there is nothing we've we've done it before it's costalized.
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I'd like to go back and do some very basic, maybe not advising more, so maybe educational pieces on money and almost the the.
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Do you think people care?
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I do, I think they do, but I think they are frightened of trying to understand, because I think everyone thinks A question with anyone really cares.
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Yeah, I think they do.
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I think there's a lot of berry in the heads in the sand.
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I think it is that 100%.
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I think people only come and look at that when it's bloody crisis, I mean when actually should be a bit of forethought.
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I spoke to a guy a few weeks ago who runs coaching and stuff like that and he said a lot of people are coming to me when the event happens and they need help.
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You know the reactor rather than product I think that's the way people are taking the money at the moment is you know they'll worry about it when it happens.
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Where People now are concerned that they're not having the holidays in the new car now, they're not worried about what the future holds for them, and I kind of get that.
00:14:12.113 --> 00:14:16.860
But also, you know, the future is going to come upon you very, very quickly.
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I'm in the UK 20 years, since January, and it doesn't feel like half a dozen years.
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Time flies as you get older, and that's some of the things we need to talk about people planning for retirement and planning for the future and what are they going to do?
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Because I don't think people are saving enough.
00:14:35.269 --> 00:14:44.511
But if you are not saving enough, there's going to be this generation who are going to have to work until they die, unless they get a lot of inheritance.
00:14:45.586 --> 00:14:52.759
But that's what happened for the history of human beings up until the last maybe two, two and a half generations.
00:14:52.759 --> 00:14:59.477
So you know back in what 1940 or people probably worked up until they died.
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Yeah, but they didn't live that long either did they?
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So they probably wouldn't go much past 50 odd anyway, were they?
00:15:06.529 --> 00:15:07.975
But we are technically living longer.
00:15:08.035 --> 00:15:21.217
So people got to have things in place, because if you're going to be living through your 80s, 90s, if you retire at 60 years of age and you've been working since you were 20.
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You're going to be nearly retired as long as you've been bloody working.
00:15:24.874 --> 00:15:32.514
So for people to think I can just save 5% of my pension, it'll be alright, just sell my house.
00:15:32.514 --> 00:15:34.190
Who are you going to sell your house to?
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The other people who are trying to sell the house?
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I'll wait until my parents die.
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Well, you miserable bastard, you're not even thinking.
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You know the emotions out of it.
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You just want cash or they don't like you.
00:15:45.004 --> 00:15:51.865
But the problem you're going to have, though, I think, is going to be generations, where generations are going to have to refinance their houses to use in retirement.
00:15:51.865 --> 00:15:56.817
So therefore, there's going to be no money from there for their kids, because they can have to use their pension pots too.
00:15:56.817 --> 00:16:02.865
They have the value of their house via some sort of equity release to pay for retirement.
00:16:02.865 --> 00:16:05.392
Therefore, there won't be as much then for retirement.
00:16:05.653 --> 00:16:18.773
It's a vicious circle, you know people that are in their 30s, maybe 40s, have seen their parents finish at maybe 55.
00:16:18.773 --> 00:16:24.865
And gold plated inflation linked pensions, which now no longer exist.
00:16:24.865 --> 00:16:28.414
A generation prior to that people probably.
00:16:28.414 --> 00:16:31.865
Life expectancy was probably maybe 70s if you were looking.
00:16:31.865 --> 00:16:34.201
So people retired maybe at 60.
00:16:34.201 --> 00:16:34.865
They had 10 years.
00:16:35.549 --> 00:16:36.576
People still want to retire at 60 now.
00:16:38.711 --> 00:16:43.835
In fact, a lot of people want to go in their mid 50s and life expectancy is longer.
00:16:43.835 --> 00:16:50.865
So, as you say, the time scale of in retirement is gone from maybe 10 to 12 years to potentially 36 years.
00:16:50.865 --> 00:16:56.852
It's troubled and people are not putting anything aside for it and they're burying their heads in their sand.
00:16:56.852 --> 00:17:03.818
And that is down to naivety, misunderstanding, not educated correctly.
00:17:03.818 --> 00:17:09.721
Amazon, netflix, sky cinemas, you know All of these things.
00:17:09.721 --> 00:17:14.173
That is our priority and people think is the people up with the Joneses.
00:17:14.980 --> 00:17:24.487
They think it's the priority now and they class that as a cost of living crisis because some of them might have to Cancel sky sports and sky cinema.
00:17:25.601 --> 00:17:28.968
It's all quite interesting though, because Inflation hasn't really slowed down as it.
00:17:28.968 --> 00:17:35.334
I know obviously it's come down a little bit this month, but I'm not convinced that's gonna last and it's all a bit artificial, isn't it thing?
00:17:35.334 --> 00:17:46.993
Rob more said today said you should take the inflationary rate and Add 50%, because that's the 50% he said the government are hiding that we don't really see is being spent.
00:17:46.993 --> 00:17:49.286
So actually, inflation is higher than it was.
00:17:49.286 --> 00:17:50.509
I probably got to agree with that.
00:17:50.509 --> 00:17:56.349
But Even though they've been banging interest rates up, people are still buying stuff.
00:17:56.349 --> 00:18:07.339
People still is not really slowing anything down, and I've never been a big fan of Wacking interest rates up to try and stem inflation, because I don't really think it works.
00:18:07.339 --> 00:18:15.545
I mean, I know you might have economists out there who'll argue with me, but People will still spend if they want to.
00:18:16.207 --> 00:18:17.309
I was sticking on credit cards.
00:18:17.309 --> 00:18:18.532
Oh, you're not gonna stop it.
00:18:19.101 --> 00:18:25.693
We know somebody works in finance who is, you know in between bits of his opinion rent with a credit card.
00:18:26.721 --> 00:18:27.865
Yes, it's like.
00:18:28.740 --> 00:18:41.259
I spoke to a woman in the gym yesterday and her daughter said her daughter and her son in future son-in-law are Professionals and they can't afford to buy now because they said this thing that's happening with x amount of salaries and all that.
00:18:41.259 --> 00:18:43.648
You know she didn't get it with the mortgage and you go.
00:18:43.648 --> 00:18:47.630
I think they'll be living with us forever because they don't want to.
00:18:47.630 --> 00:18:51.826
The rent is Nearly two thousand pounds a month and you kind of go.
00:18:52.086 --> 00:18:54.813
Well, it must be a big place if it's near or in around Cardiff.
00:18:54.813 --> 00:19:03.544
But you know that's the generation that the rich in a nice way of getting richer and those that have cash Are buying more and more property.
00:19:03.624 --> 00:19:06.612
Yeah, the the, the gap is widening, isn't it?
00:19:06.612 --> 00:19:12.799
I mean, this is, the rich are definitely getting richer because they can capitalize on what's going on.
00:19:13.000 --> 00:19:20.529
But you go out on Friday night or Saturday night and find you love the same kind of age group that will like ourselves when now, when you were in your 20s and that.
00:19:20.529 --> 00:19:24.948
But the restaurants will still be busy, the takeaways will still be busy.
00:19:24.988 --> 00:19:27.497
I wonder if the clubs and bars are as busy as they were.
00:19:27.497 --> 00:19:29.201
Like the restaurants Definitely are.
00:19:29.201 --> 00:19:38.997
Because you try and get into a restaurant in Cardiff last minute on a Friday or Saturday you ain't got hope and if you can get in you've got to wonder whether actually the food's any good.
00:19:38.997 --> 00:19:40.884
The rug, that's my yeah.
00:19:41.420 --> 00:19:43.405
Football is starting again in two or three weeks.
00:19:43.405 --> 00:19:45.531
You know stadiums will be full again.
00:19:45.531 --> 00:19:48.567
Rugby pre World Cup almost.
00:19:48.607 --> 00:19:49.852
Yeah, and then we got the World Cup.
00:19:49.873 --> 00:19:58.902
You're gonna watch in that people will go to the World Cup and I know some of them are probably a bit like the Lions tours will may have saved for the last four years or so For something like that.
00:19:58.902 --> 00:19:59.765
So I get that.
00:19:59.765 --> 00:20:07.348
But I know, I know on so many people that are just, you know, packing up and going to France for August.
00:20:07.348 --> 00:20:08.852
I know one.
00:20:08.852 --> 00:20:12.865
One guy Said to me some weeks ago in the gym.
00:20:12.865 --> 00:20:14.469
He said I'm on camp on the weekend.
00:20:14.469 --> 00:20:20.940
Okay, I said I'm Got a camper van, so where you going West Wales, testing out sort of right?
00:20:20.940 --> 00:20:28.512
I'm going to France for three weeks in August, so you renting over there?
00:20:28.512 --> 00:20:30.042
No, no camper van.
00:20:30.042 --> 00:20:32.626
And I went outside and saw and he bought a VW camper van.
00:20:32.626 --> 00:20:33.909
Oh, how much was that?
00:20:33.909 --> 00:20:34.691
45?
00:20:34.691 --> 00:20:36.133
And it nah 60.
00:20:36.133 --> 00:20:39.026
And I said You've ever been camping before?
00:20:39.026 --> 00:20:40.490
There's no tour of sharing those ones.
00:20:40.612 --> 00:20:45.554
They know, because they literally out the van, like my van yeah even don't like camper, but do you know what it was?
00:20:45.574 --> 00:20:46.880
just I couldn't be bothered.
00:20:48.285 --> 00:20:49.971
To be even a hotel after the first few days.
00:20:49.971 --> 00:20:59.185
I couldn't be bothered renting one for a few days, just bought it as you've been in there with no a con, 60 grand, the sun, the sun in Europe, with a minute for them, for them in a full for.
00:21:00.421 --> 00:21:00.902
Don't get me wrong.
00:21:00.902 --> 00:21:02.547
I'd have one of those big like Winnebago.
00:21:02.547 --> 00:21:08.976
Things look like a bus with Everything in, but like it's my sister-in-law, she's goes.
00:21:08.976 --> 00:21:10.381
She's in France now, I think.
00:21:10.381 --> 00:21:12.210
I think they've gone, they take the car.
00:21:12.210 --> 00:21:19.410
They got a proper caravan, though, and it's a big one as a Double wheelbase one, great on everything, but they're at the three weeks down, I think next summer.
00:21:19.410 --> 00:21:24.605
They tend to go for longer, you know, but they love it, I mean.
00:21:25.902 --> 00:21:29.200
No but he's quite a big caravan though, and it's also got a big warning with it.
00:21:29.560 --> 00:21:31.489
No, actually kind of no, I'm not bought it, I'm not.
00:21:31.489 --> 00:21:34.507
No, no, that's what hotels were like one of those.
00:21:34.688 --> 00:21:39.545
I would like one of those drive proper driving camper vans with the proper beds, and I'm not there.
00:21:40.240 --> 00:21:50.863
The little ones might need to have a toilet and a shower, like the lad that when covert happened is the formula one Driver who spent was a hunt 200 grand on it and the sides push out and they Some button.
00:21:51.284 --> 00:21:53.523
No, got a 1.2 million.
00:21:53.604 --> 00:21:54.365
It's another guy.
00:21:54.365 --> 00:21:56.711
I can't remember who he was, but it's short and he lived in that.
00:21:56.711 --> 00:21:58.463
It's like maybe that.
00:21:58.463 --> 00:21:59.005
But do you know what?
00:21:59.005 --> 00:22:00.308
That's why they invented hotels.
00:22:00.308 --> 00:22:05.700
Don't eat, you don't need to be traveling in things like that small, condensed areas now.
00:22:05.700 --> 00:22:09.038
So he says he's just gone on a cruise.
00:22:09.057 --> 00:22:13.351
In a few weeks it's gonna say don't waste spoiling if you go on the rooms in the windows as well.
00:22:14.301 --> 00:22:17.182
No, we got two windows yeah your portal of you.
00:22:17.182 --> 00:22:20.150
We got one portal and one fake portal.
00:22:20.310 --> 00:22:20.971
You got balcony.
00:22:21.333 --> 00:22:21.393
No.
00:22:22.481 --> 00:22:23.566
No, you chose not to happen.
00:22:24.980 --> 00:22:28.308
The, the health and safety officer chose not to have a balcony.
00:22:28.348 --> 00:22:32.740
Yes, I agree with actually, because Some of them literally do we look over and I strain the sea.
00:22:33.342 --> 00:22:33.963
Ah, what's the worst?
00:22:34.023 --> 00:22:35.829
again happen you drop, shouldn't see.
00:22:35.829 --> 00:22:40.025
But you can't swim, can you?
00:22:40.386 --> 00:22:41.349
I wouldn't go in the balcony then.
00:22:41.349 --> 00:22:53.528
Just to the window, lovely balcony one of the two portals might you guess, we blow yet the portals, and one of them is a TV, so it shows the picture of what it's like outside.
00:22:53.528 --> 00:22:55.813
Really, what's the point in that?
00:22:55.813 --> 00:22:59.569
How much more is that gonna cost than a normal window?
00:22:59.569 --> 00:23:03.991
Oh, that's right, so you got to turn it off at night, then I have no idea.
00:23:03.991 --> 00:23:07.067
I'll take some videos on Disney cruise.
00:23:08.519 --> 00:23:13.569
Yeah, yeah, I'll be funny, so so sold my left kidney for now.
00:23:13.569 --> 00:23:14.982
Well, yeah.
00:23:17.280 --> 00:23:18.967
I've all said it's a costal lifestyle crisis.
00:23:18.967 --> 00:23:21.785
I'm not, I'm, I'm not ashamed to say that.
00:23:21.885 --> 00:23:25.160
I'm convinced this, this cruise is gonna have all like the disney characters on there.
00:23:25.279 --> 00:23:28.875
Yeah, I hope so, otherwise there's gonna be somebody very, very upset in our house.
00:23:28.875 --> 00:23:31.365
Yeah and that ain't me, I'm.
00:23:31.365 --> 00:23:44.859
I'm only imagining that there's going to be loads of drugs on there as well, because I can't imagine the parents being able to get through four days of non-sleeping because of the kids' excitement, without any sort of narcotics.
00:23:45.040 --> 00:23:45.561
Where am I?
00:23:46.404 --> 00:23:47.828
It's impossible, you know.
00:23:47.828 --> 00:23:55.872
11 o'clock in the night kids are going to be running around the place, parents are going to be absolutely exhausted and there's no way off.
00:23:55.872 --> 00:23:57.845
You can't, especially for us.
00:23:57.845 --> 00:23:58.670
We've got no more balcony.
00:23:58.670 --> 00:23:59.173
You can't jump.
00:23:59.173 --> 00:24:00.119
There's no way out.
00:24:01.605 --> 00:24:02.346
Well, fair.
00:24:02.346 --> 00:24:04.935
So what are people going to expect from the new podcast?
00:24:04.935 --> 00:24:05.096
Then?
00:24:05.096 --> 00:24:07.703
New podcast for the carry follow-on of the podcast.
00:24:07.703 --> 00:24:09.568
Well, I have to change the name as well.
00:24:10.310 --> 00:24:11.031
That's another story.
00:24:11.240 --> 00:24:12.061
That's another story.
00:24:12.061 --> 00:24:13.845
We'll keep you updated on that one.
00:24:16.269 --> 00:24:19.863
Yeah, I'd love to say something, but let's keep that quiet.
00:24:19.863 --> 00:24:30.310
I think there's a need for people, for I'm going to say re-education, because I think people understand certain things, but maybe just giving a bit back.
00:24:32.382 --> 00:24:33.327
Who's going to give a lot back?
00:24:33.327 --> 00:24:35.421
We're going to give a lot back this time, not more than we've ever given.
00:24:35.441 --> 00:24:38.571
I'm going to try and all for free as well.
00:24:38.592 --> 00:24:39.777
I'm going to try and troll.
00:24:39.777 --> 00:24:41.340
You're going to troll people.
00:24:41.401 --> 00:25:01.671
True, that's difficult to say as an Irish person that's trolled through any sort of papers, media and then each week and just find some crap that people are coming out with just to kind of put the world right in terms of what you're saying You'll have to do that because I don't watch the news or read the newspapers, as you well know.
00:25:01.671 --> 00:25:04.422
Well, we'll talk about me reading newspapers.
00:25:04.422 --> 00:25:09.980
But I kind of get a bit switched off after about 9.7 seconds of reading stuff.
00:25:09.980 --> 00:25:12.547
But that's for another podcast.
00:25:13.328 --> 00:25:19.515
Yeah, and we're going to have a couple of listeners throw client questions at the end as well, some common things that come up.
00:25:19.515 --> 00:25:21.041
We're going to do that at the end of every podcast.
00:25:21.041 --> 00:25:22.246
We'll actually do some today as well.
00:25:22.306 --> 00:25:23.690
We might bring a few guests on as well.
00:25:24.141 --> 00:25:25.324
Oh, we definitely get some guests on.
00:25:25.324 --> 00:25:32.423
I think we got a couple potentially lined up and we'll see where we can go with that.
00:25:32.423 --> 00:25:33.528
I quite enjoy doing guests.
00:25:34.974 --> 00:25:37.364
Yeah, Do you know what I've realized when we've gone on a few more of them?
00:25:37.364 --> 00:25:42.859
When you start in 2020, it seemed what are we going to talk about?
00:25:42.859 --> 00:25:45.009
Are we going to be able to talk when you go on as a guest?
00:25:45.009 --> 00:25:55.272
It's bloody horrible because they're in control, they dictate where it goes to and they ask the questions, Whereas when you're in control here, you can just ask whatever you want to people they can tell you to.
00:25:55.272 --> 00:25:56.839
I'm not going to answer that.
00:25:56.839 --> 00:26:00.032
You know, a bit like remember one of the first few episodes we had, Mr Haskell.
00:26:00.054 --> 00:26:02.344
Oh, yeah, yeah, Ask where you want.
00:26:02.344 --> 00:26:03.426
It, just won't answer it.
00:26:03.426 --> 00:26:03.788
Did you read?
00:26:03.807 --> 00:26:04.308
the questions.
00:26:04.308 --> 00:26:05.652
James, Did I?
00:26:05.652 --> 00:26:10.055
You know I'm not going to answer the questions if I don't want to, Okay.
00:26:10.576 --> 00:26:12.462
I don't think as many questions you won't answer, though.
00:26:12.462 --> 00:26:14.307
No, that's very true, in fairness.
00:26:14.307 --> 00:26:16.992
But yeah, so happy days.
00:26:16.992 --> 00:26:20.106
Let's just roll on with the question then.
00:26:20.106 --> 00:26:20.567
Shall we Do.
00:26:20.587 --> 00:26:21.108
I have a question.
00:26:21.108 --> 00:26:22.681
Do I have a got two One?
00:26:22.681 --> 00:26:25.789
All right, I hope you're not asking me to answer them.
00:26:25.789 --> 00:26:29.263
It was in relation to finance and probably useless on it.
00:26:29.284 --> 00:26:29.444
Right.
00:26:29.444 --> 00:26:40.923
So this is one that I've seen a lot of forums kind of knocking around right Property forums, anything to do with property or finance and stuff where members of the public are on there.
00:26:40.923 --> 00:26:46.760
And you see this one Can somebody who's a broker give me some nice bite?
00:26:46.760 --> 00:26:48.547
A let rate search are available at the moment.
00:26:48.547 --> 00:26:53.423
There's a pretty simple answer that no, it's not that straightforward.
00:26:53.423 --> 00:26:57.857
People actually do go on and say can I just give me some?
00:26:57.857 --> 00:27:00.326
Could someone give me an idea of what rates I'm going to be having?
00:27:00.326 --> 00:27:01.329
No, it doesn't work like that.
00:27:02.160 --> 00:27:04.128
Yeah, between five and 25%.
00:27:05.779 --> 00:27:10.059
But yeah, it could be anywhere from two to whatever percent, depends on your circumstances.
00:27:10.059 --> 00:27:13.868
Where you're buying, you're buying, you know commercial bite a let.
00:27:13.868 --> 00:27:14.088
Is it.
00:27:14.088 --> 00:27:15.772
Family bite a let.
00:27:15.772 --> 00:27:17.280
Is it vital?
00:27:17.280 --> 00:27:17.823
Is it no?
00:27:17.823 --> 00:27:19.365
By what is a HMO?
00:27:19.365 --> 00:27:22.173
You know, and do you work, don't you work?
00:27:23.701 --> 00:27:24.665
It's 3.4%.
00:27:24.665 --> 00:27:27.099
No, no, wait a minute, they've just changed 3.95.
00:27:27.340 --> 00:27:28.664
Yeah, well, I suppose, like the moment, wait a minute.
00:27:28.766 --> 00:27:29.587
No, it's 4.7.
00:27:29.828 --> 00:27:30.190
No no, no.
00:27:30.190 --> 00:27:34.167
So I think there's a couple of things with that.
00:27:34.167 --> 00:27:37.023
Really, I would probably say is that was 5.7.
00:27:37.865 --> 00:27:46.490
Yeah, exactly One is you can't ask questions like on a general form, because if anyone gives you an answer it's never going to be right because they don't know your circumstances.
00:27:46.490 --> 00:27:51.193
But you can't get an answer from down the pub.
00:27:51.193 --> 00:27:53.462
You certainly shouldn't get an answer off just the internet.
00:27:53.462 --> 00:27:55.088
You need to speak to somebody.
00:27:55.088 --> 00:28:00.700
I wouldn't say go and speak to the banks, because they're very limited and actually if you're looking to buy a, let they don't really do them.
00:28:00.700 --> 00:28:02.103
Anyway, it's very specialist.
00:28:02.103 --> 00:28:06.192
You can speak to a professional who can give you those answers.
00:28:06.380 --> 00:28:06.881
Do you know?
00:28:06.881 --> 00:28:08.986
What does it impact on?
00:28:08.986 --> 00:28:25.880
You know, when you go on to a Santander, lloyd's, nat West, any sort of thing, it shows how much can you borrow or work out your rate, and it allows you to put in the I'm borrowing this, it's over 25 years and the interest you can type in the interest rate.
00:28:25.880 --> 00:28:27.505
So aren't people going.
00:28:27.505 --> 00:28:36.098
Then, if you can get me a deal I've just looked online and I've got 50 grand deposit that I wanted over 20 odd years Can you get me a deal where I'm paying?
00:28:36.098 --> 00:28:38.386
It's going to be 800 quid, that's 3.95%.
00:28:38.386 --> 00:28:39.390
I can afford that.
00:28:39.390 --> 00:28:40.413
Can you go and find me?
00:28:40.413 --> 00:28:43.444
That doesn't work like that but but.
00:28:43.545 --> 00:28:46.657
But those calculators are, but the funny thing is like that's the problem.
00:28:46.679 --> 00:28:58.681
So if you go on to somebody's calculators, right, now we've had this numerous times and clients will come to you and say I found this rate on many savings export, whatever it might be, can you, can you get this rate?
00:28:58.681 --> 00:29:00.326
And you're like, yeah, we can get our rate.
00:29:00.326 --> 00:29:03.817
And you say, okay, so do you?
00:29:03.817 --> 00:29:05.481
Do you live in Mansfield?
00:29:05.481 --> 00:29:07.866
No, no, I live in Cardiff.
00:29:07.866 --> 00:29:13.522
Okay, well, that's only available if you live in Mansfield or in a certain postcode area and they might come with another one.
00:29:13.522 --> 00:29:14.965
Okay, that's great.
00:29:14.965 --> 00:29:16.450
Do you private bank with Coots?
00:29:16.450 --> 00:29:17.893
No, no, I don't.
00:29:17.893 --> 00:29:19.567
It's not available to do that.
00:29:20.029 --> 00:29:21.660
The problem is these websites are generic.
00:29:21.660 --> 00:29:28.394
I would say on 99.99% of occasions people have ever come to me with those rates they found on the internet.
00:29:28.394 --> 00:29:29.603
They're always the lowest ones.
00:29:29.603 --> 00:29:31.268
They're not exactly what they think they are.
00:29:31.268 --> 00:29:34.606
And the thing is, even I've had people come me with discount rates.
00:29:34.606 --> 00:29:38.868
Or they've got this rate, it's it's a 3.45% fixed.
00:29:38.868 --> 00:29:42.319
No, it's nice, discounted was I mean, what is discount on some of the rates?
00:29:42.319 --> 00:29:47.865
So they more for you can go up and down, and they're like, oh right, I thought it said fixed.
00:29:47.865 --> 00:29:49.068
No, it's fixed anyway.
00:29:49.088 --> 00:29:57.532
It actually doesn't really see anything of what what it is, and that's the danger and I think then you're not good enough because you can't get the same deal as you they can get as a generic thing online.
00:29:57.753 --> 00:29:58.800
She's frustrated, that's.
00:29:58.800 --> 00:30:04.222
The problem is that there's so much information on the internet which is Not accurate.
00:30:04.222 --> 00:30:05.186
True true.
00:30:05.186 --> 00:30:07.741
Question two.
00:30:08.304 --> 00:30:09.548
Bum, bum, bum.
00:30:09.548 --> 00:30:10.411
It's like mastermind.
00:30:12.339 --> 00:30:18.028
Now I see I've been asked this many times Should I paint on my work pension?
00:30:19.540 --> 00:30:20.765
No, absolutely not.
00:30:20.765 --> 00:30:21.709
Put it all in crypto.
00:30:21.709 --> 00:30:26.730
That's not advice and I'm being what's the word I'm looking for?
00:30:26.730 --> 00:30:28.112
Sarcastic, sarcastic.
00:30:28.973 --> 00:30:32.307
Yeah, should he pay into your works pension?
00:30:32.307 --> 00:30:42.586
Well, put it this way if you pay 80 pounds in, potentially or let's say a hundred pounds, and your standard rate taxpayer, the government give you an extra 25 quid on top of that.
00:30:42.586 --> 00:30:47.890
And then, on top of that, your boss, your employer, might add in money.
00:30:47.890 --> 00:30:58.090
Let's say they put another hundred quid in and so, all of a sudden, before even any of this growth or interest rate, you put a hundred quid in and now it's worth 225 pounds.
00:30:58.090 --> 00:31:05.566
Now go and find anything on this planet that will give you that sort of uplift immediately.
00:31:05.566 --> 00:31:06.867
And then you are.
00:31:06.867 --> 00:31:12.424
You impact on the effect of compound interest over 10, 20, 30 odd years.
00:31:12.424 --> 00:31:14.983
It is phenomenal.
00:31:14.983 --> 00:31:28.800
So, yes, you should pay into your pension how much, as much as you can bloody afford, and a bit more, and as much at least that your boss can match, because it's free Money.
00:31:29.303 --> 00:31:32.130
Stop worrying about you know I can't access it.
00:31:32.130 --> 00:31:36.286
Access it until Ex-amount of years, doesn't matter.
00:31:36.286 --> 00:31:36.847
Still your money.
00:31:36.847 --> 00:31:37.730
What have I died?
00:31:37.730 --> 00:31:38.854
It's still your money.
00:31:38.854 --> 00:31:40.920
It'll go to the family is a tax-free lump sum.
00:31:40.920 --> 00:31:43.305
I want to spend another money.
00:31:43.305 --> 00:31:45.730
No, it's a cost of a lifestyle crisis.
00:31:45.730 --> 00:31:47.292
You need to plan for the future.
00:31:47.292 --> 00:31:50.249
There's no excuses, just get it done.
00:31:50.249 --> 00:31:52.796
I suppose that let's not even go into the.
00:31:52.796 --> 00:31:54.019
Where shall I invest it?
00:31:54.622 --> 00:31:55.023
Oh, we'll do that.
00:31:55.023 --> 00:31:58.429
Another upside I think we'll actually cover off this in another kind of podcast.
00:31:58.429 --> 00:32:05.920
We'll talk about Workpaid pensions and actually how we think you should actually invest in those, because I think, that's a problem, because it's, but you know.
00:32:06.461 --> 00:32:09.590
But what you don't do is just go with the default option that they're giving you.
00:32:09.590 --> 00:32:20.329
There's a lot more you can kind of do that, but you've got to do it because Effectively you could have a good hundred percent uplift straight away from day one, while you're putting in by what your employer puts in and where you get from tax relief.
00:32:20.840 --> 00:32:23.871
You know, let's come come back to this in another in a few weeks time.
00:32:23.871 --> 00:32:30.798
Default is lifestyle, lifestyle strategy, which defaults as you put a date when do you want to retire?
00:32:30.798 --> 00:32:31.742
60, what age, you know?
00:32:31.742 --> 00:32:34.019
55, I don't want any risk.
00:32:34.019 --> 00:32:40.953
It automatically puts it into cash or bonds, and bonds in some forms have gone down by 50% in the last three years.
00:32:40.953 --> 00:32:45.632
So you've lost half of your money in a time when you you are looking to start drawing an income in the future.
00:32:45.632 --> 00:32:50.481
So this concept of risk is just totally, totally Upside down.
00:32:50.521 --> 00:32:51.525
People don't understand it.
00:32:51.525 --> 00:32:56.224
They don't understand risk and they understand Most words of two meanings.
00:32:56.224 --> 00:32:57.609
You know, as in I don't know.
00:32:57.609 --> 00:33:00.325
Let's say, give me an example.
00:33:00.325 --> 00:33:04.990
I can't think of one right now and I'm lost.
00:33:04.990 --> 00:33:08.160
But some words will have a double meaning, even though they sound the same.
00:33:08.160 --> 00:33:09.002
They're spelled the same.
00:33:09.002 --> 00:33:17.127
But risk everyone just sees as one thing loss of money, and high risk is the high of the worst thing and low risk is is you never lose?
00:33:17.127 --> 00:33:19.055
That's, that's gone out the window.
00:33:19.055 --> 00:33:22.547
People need to be educated correctly, but yeah we come back to that another day.
00:33:23.028 --> 00:33:23.189
Yeah.
00:33:24.603 --> 00:33:25.184
Your expansion.
00:33:25.721 --> 00:33:28.960
Yeah, not pain to it and do not do what you hear a lot of people doing.
00:33:28.960 --> 00:33:34.603
I'm not gonna start now, I'm gonna start it next year because I got a few things I want to pay off.
00:33:34.603 --> 00:33:38.651
You're never gonna pay them off to start and you're never gonna start that pension.
00:33:38.651 --> 00:33:43.855
Before you know, at five, six years down the line, you've lost it on that couple hundred quid a month you would have had compounded.
00:33:43.855 --> 00:33:44.804
You know you've.
00:33:44.923 --> 00:33:51.250
You've lost it on a lot of money if somebody sends me in the bank statement, I bet you I can find 60 quid a month on savings them.
00:33:51.250 --> 00:33:54.169
You know Netflix, you never used that.
00:33:54.169 --> 00:33:56.377
Amazon Prime you've got two of them in the house.
00:33:56.377 --> 00:33:58.806
You know I'm pet pet cover.
00:33:58.806 --> 00:34:00.210
Your pet died last year.
00:34:00.210 --> 00:34:03.266
Phone insurance that you already have.
00:34:03.286 --> 00:34:04.569
We were that's another episode.
00:34:04.569 --> 00:34:11.365
That is the amount of people who pay pet insurance but don't insure themselves or their family or their kids Unbelievable I.
00:34:12.800 --> 00:34:16.990
Think we've probably offended as many of the listeners as we could in the first episode.
00:34:16.990 --> 00:34:17.733
It's a good effort.
00:34:19.440 --> 00:34:24.699
Yeah, we're trying well, we probably will do more of that, but people need to wake up and hear these things.
00:34:26.005 --> 00:34:27.804
So we're back.
00:34:29.242 --> 00:34:29.784
Back together.
00:34:31.992 --> 00:34:33.362
That was loud, yeah, yeah.
00:34:35.880 --> 00:34:36.945
So it's good to be back actually.
00:34:36.945 --> 00:34:40.219
Yes, and we don't have not, I don't talk to you every day anyway.
00:34:40.684 --> 00:34:42.719
And we don't have to do the YouTube version at the moment.
00:34:42.719 --> 00:34:47.512
So, people, people can't see my, my pinstriped three people can't see the fact.
00:34:47.621 --> 00:34:56.849
I spilled food down the front of my t-shirt today as well and with my daughter with a greasy fingers has greased up my t-shirt, so didn't realize this morning till I actually going to work.
00:34:56.849 --> 00:34:57.994
But most people don't know his bike.
00:34:58.039 --> 00:35:06.820
I can't until next week, stay safe, spend loads of money, feel happy Investing crypto and all those things that people just don't listen to anyone else about.
00:35:09.043 --> 00:35:10.605
Don't do any of those again.
00:35:10.684 --> 00:35:12.788
Yes, that was taking the mickey.