We’re here to challenge some standard ideas about money. In this episode, Chris and David are joined by Producer and 29 year old Chartered Financial Planner Tom Morris. Adding to the (already palpable) excitement, this episode was recorded on the due date of Tom’s first child. At 06:45, he receives a call from his wife…
Featuring “The first time ever that Chris Budd tells a joke that makes everybody laugh”, the conversation, as ever, is wide-ranging. The three discuss Chris’ Dry January at 1:10, the importance of acquiring consent before hugging trees at 0:35, and at 3:25 we have our tweets to @FinWellbeing. Tweets from @gavinpcox on our attitude toward possessions and from @imstevewilson on pensions (revisited at 14:20) start us off nicely. Later on in the episode, tweets from @dontdelay, @martinbamford and @postcardrohan discuss ‘ISA Season’, Nursing homes and Estate Agent In-house Mortgage advisers – starting at 25:19.
At 5:33, we discuss whether or not money can really make you happy.
At 7:25, Tom Morris talks about financial peer pressure among his age group, and Chris discusses how this still occasionally effects him.
At 10:00, the discussion veers toward the fundamental principle of “Know Thyself”.
At 10:40, Oliver Burkeman’s wonderful book “The Antidote” is mentioned, as it has been in previous Podcasts.
At 12:05, The two sides of Insurance.
12:55, MYTH: Life insurance is expensive in your 20s.
13:15, MYTH: One should make decisions before engaging a Financial Planner.
14:20, Pensions and how they can help.
16:22, MYTH: Public sector Pensions.
17:37, Einstein’s eighth wonder of the world.
18:39, Benefits of engaging a Financial Planner.
18:55, MYTH: Property – ‘My home is my pension.’
19:55, MYTH: Why property isn’t necessarily the best investment you’ll ever make.
20:07, MYTH: Property market will only ever go up.
21:25, Is the Property market a bubble ready to burst?
21:40, Conflicting interests between Generation X & Generation Y on property prices.
22:53, MYTH: ‘Renting is dead money’.
23:45, Japanese culture on housing.
23:25, MYTH: ‘ISA Season’.
26:02, MYTH: Nursing Care – ‘Hide my house and the council will pay for a state of the art nursing home’.
28:38, MYTH: You need to use the estate agent’s in-house Mortgage Adviser.