retirement income

On this week’s podcast Martin explains how you can buy voluntary National Insurance years to boost your state pension and why it is one of the most lucrative things many can do with their money. TELL US is about if listeners have ever taken money from their childrens accounts to help the household finance, or broken their piggybanks. Later in the pod, Martin shares his latest money-saving tips and Nihal attempts another tricky Mastermind question.

This week we discuss Cardi B declaring her love for FDR on the 'Hot Ones' podcast, thousands of teenage boys being preyed upon by "sexting scams", the Diploma Divide, Aaron Rodgers makes a joke about Travis Kelce calling him "Mr. Pfizer", the Arizona Governor cancelling the Saudi Water deal in their state, Senator Menendez Wife's history of killing a man while driving, and James Li looks at the health issues with "Food Preservation" at big corporations.

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Martin explains how to get a free solicitor-drafted will and Nihal’s rap career showcases the importance of having a pension. He also looks at the importance of having a power of attorney, he answers your questions and has some tips on where to find cheap toys and cheap make up. 02:21 Tell Us 03:55 How to get a free solicitor drafted Will 14:51 Brown Trouser phone in 23:25 More Tell Us 29:18 Mastermind 38:08 Podcast-only tips

The government has just extended the deadline to April 2025 for people to top up their National Insurance contributions. For many people approaching retirement, especially women, it offers a fantastic opportunity for them to increase their state pension by thousands of pounds by paying in only a few extra hundred. As you can imagine, the demand is huge, and has jammed the government pensions hotline. Money Clinic host Claer Barrett speaks to Sir Steve Webb, the former pensions minister and now a partner at consultancy Lane Clark & Peacock. He fields questions from FT readers and listeners about who should apply (and who should not), how to apply, and what kind of a deal to expect.

The episode features a clip from the Martin Lewis Podcast on BBC Radio 5 Live.

Want more?

Deadline to plug UK state pension gap extended until April 2025

Find out more about voluntary National Insurance contributions

See your State Pension forecast and find any gaps in your National Insurance record

Check your State Pension age

If you live or plan to retire abroad, click here for the the UK’s International Pension Centre

If you would like to talk to Claer on a future episode, please email the Money Clinic team at money@ft.com with a short description of your problem, and how you would like us to help.  

Say hello on social media: you can follow Claer on Twitter and Instagram @Claerb, and Claer’s guest Sir Steve Webb is @stevewebb1

Presented by Claer Barrett. Produced by Laurence Knight. Our executive producer is Manuela Saragosa. Sound design is by Breen Turner, with original music from Metaphor Music. 

Read a transcript of this episode on FT.com

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Fresh data from the U.S. government on Wednesday showed that inflation was still climbing at a rapid pace, prompting President Biden to say that controlling the rising prices was his “top domestic priority.”

But not everybody experiences inflation equally. Why is that?

Guest: Ben Casselman, an economics and business reporter for The New York Times.

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Background reading: 

• What’s your rate of inflation? You can answer seven questions to estimate your personal inflation rate here.
• Rising prices could hurt Democrats in the midterms, and Mr. Biden has sought to turn the debate over the economy against his opponents.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. 

You would think that the mainstream media would understand the cost of living and what you would need to retire: but Rob believes they have got it completely wrong! Listen in to this episode to find out why and what you actually need in order to retire.

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KEY TAKEAWAYS 

• Rob believes you need a lot more than 50k a year to retire on as a couple as stated in a recent BBC article. Rob calculates that you would need 10 million capital to retire because of the increase of living expenses.
• It’s important for people to be prepared for their retirement and to do this they need all the facts and be told the reality.

BEST MOMENTS 

“I think you need minimum 100-150 grand net to retire”

“There needs to be better information out there”

[Business, mindset, entrepreneur, disruptors]

VALUABLE RESOURCES

https://robmoore.com/

bit.ly/Robsupporter  

https://robmoore.com/podbooks

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ABOUT THE HOST

Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “Disruptors”

“If you don't risk anything, you risk everything”

CONTACT METHOD

Rob’s official website: https://robmoore.com/

Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs

LinkedIn: https://uk.linkedin.com/in/robmoore1979

disruptive, disruptors, entreprenuer, business, social media, marketing, money, growth, scale, scale up, risk, property: http://www.robmoore.com

Rob D is flying solo on Ask Rob & Rob today whilst Rob B is enjoying his holiday.

So this week we’ve got two very interesting questions - and one is on a topic we’ve never covered before. That almost never happens!

First up is Marcus: He’s in full time employment and paying into a company pension scheme. He isn’t satisfied with how his pension pot is looking for when he retires so is looking at turning his hand to buy to let property.

After doing some research, Marcus found out that he could get 40% tax relief on any extra money he puts into his pension. So is he better off investing in property or putting the extra money into his pension fund?

Rob D completely agrees that pension tax relief schemes are fantastic and even better if your company matches your contribution. However, if you’re thinking of retiring early you won’t be able to access this cash, so you’ll need a back up plan.

He’s no tax expert so you definitely should speak to the professionals, but have a listen to what else Rob D has to say about pensions.

The second question comes from James - he’s found a flat that he likes the look of. It’s two years old and in a new development but it has a commonhold tenure. So, what is a commonhold tenure and what should James do? Tune in to find out.

Do you have a buy to let or property investment related question for Rob & Rob? You could feature on the next episode by giving us a call on013 808 00035 and leaving a messagewith your name and question (normal UK call rates apply).

Or if you prefer, click here to leave a recording via your computer instead.

The next question on Ask Rob & Rob could be yours.

Have you joined us over on the Property Hub Forumyet? Our online community is friendly, informative, and the members are waiting to welcome you with open arms. So get yourself over and introduce yourself.

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This week on Ask Rob & Rob, Ed asked: What will happen to mortgage availability as you get older? The answer touched upon the fact that the trend is leaning more and more towards people getting mortgages later in life. This is for a couple of major reasons: firstly the change in pension reforms that have […]

The post ASK44: What will happen to mortgage availability as you get older? appeared first on The Property Hub.

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