This is Money Podcast

This is Money's pensions guru Steve Webb racked up his 300th column answering readers' questions this week.Over the past six years, Steve, with the help of pension and investing editor Tanya Jefferies, has been guiding readers through the retirement maze - with his column regularly among the most popular stories of the week.To celebrate his 300th column, Steve joins Tanya, Georgie Frost and Simon Lambert for a special podcast episode to answer your questions.It's a dive into much of what you need to know about pensions, ranging from saving for retirement, to investing in your pension years and, of course, the state pension and triple lock.Among the questions on the agenda are:Is it better to put money into my pension or pay my house off quicker?Why do people retiring under the new post-2016 system get higher payments than me?My 41-year-old son has started a new job on a four year contract but there is no pension scheme, is that legal?My pension was valued at £94,000 last year now its worth £74,000 - and I was about to take my 25% lump sum , what can I do?I paid £692 into my work pension last month and within ten days my fund had lost over £800, am I throwing good money after bad?Steve and the This is Money podcast team answer all these questions and more and discuss the issues involved. Hosted on Acast. See acast.com/privacy for more information.

Belts are already being tightened but as bills head even higher more people will look to save where they can.But are there some things that you should avoid doing or cutting back on at all costs?Campaigns to get people not to pay their bills have obvious flaws, but what about only paying for the energy you use, diverting your pension saving elsewhere or cutting back on ditching saving or investing.Some are at breaking point and will have little choice but to do some of these things, but what about those who are still heading off on holidays, going out for dinner and drinks, or getting takeways in - should they hammer down on discretionary spending before stopping saving?In his column this week, Simon Lambert came up with his five false economies to avoid, but was he right to pick them? Simon, Georgie Frost and Lee Boyce discuss them on this podcast episode.Also this week's episode, are buy-to-let landlords all bad or a crucial part of the property market, will an electric car still save you money after the energy price cap hike, and how high will savings rates go as the best buys come in thick and fast. Hosted on Acast. See acast.com/privacy for more information.

Inflation is soaring and if predictions are correct, it would result in the Consumer Prices Index measure hitting 13 per cent this autumn.That could result in a state pension rise of around £1,000 a year to £10,900 while even at the current level of 10.1 per cent it would be upped to £10,600.However, last year, the triple lock was scrapped. Would a new Prime Minister dare do the same this time around? Lee Boyce, Tanya Jefferies and Georgie Frost discuss.Inflation is hitting those with pensions in different ways, we explain how and Tanya unearths yet more errors at the DWP.She explains why – if you, or someone you know, was refused a state pension or given an unexpectedly low award when you turned 66 – it could be worth challenging. Data also suggests that some workers are opting out of private pensions or reducing contributions thanks to the rise in the cost-of-living. Is that a wise decision?Outside of pensions, we had calculations this week that inflation predictions are undercooked and could actually peak at 18.6 per cent early next year, with base rate having to reach 7 per cent to stop it. It comes as the energy price cap is now forecast to reach £5,500 in April 2023. And finally… the number of homes available to rent has halved in two years pushing prices through the roof.According to research, tenants are effectively losing a bedroom if they spend the same amount of money today on a property compared to two years ago. What next for the rental market? Hosted on Acast. See acast.com/privacy for more information.

 Inflation is up again with CPI now measured at 10.1 per cent, the highest since February 1982, when Margaret Thatcher was Prime Minister. How does this bout of inflation compare to then?Lee Boyce, Helen Crane and Georgie Frost discuss the higher than forecast inflation rate and what is driving it.With that rate of inflation soaring, a majority of economists believe another 0.5 percentage point increase in base rate is on the cards next month.But what would a base rate of 3, 5 or 7 per cent do to mortgage rates and property prices?Britons are estimated to have billions 'lost' in pension, investment and bank accounts – how do you go about tracking it down?And with thousands of students opening their A Level results this week, Lee reveals how he has already built a £10,000 investment pot for his three-year-old, in case she decides to go into further education. Hosted on Acast. See acast.com/privacy for more information.

Rising bills and the cost-of-living crisis are forcing many to dip into savings pots, if they have one to begin with.At the same time, with base rate rising to try and curb inflation, savings deals have become far better than they have been in the last decade.This week, Georgie Frost and Lee Boyce are joined by a special guest: James Blower, AKA The Savings Guru, who gives his take on where savings rates are heading next.With lesser known challengers paying the best rates, how do you know they’re any good? And should you fix now or wait?He explains how savings rates set, why big banks are slow to pass on base rate movements and with savings deals improving, James explains why a cash Isa might be a good home for your money once more.Elsewhere, times are tough with plenty of misery on the horizon thanks to rising energy bills. Latest predictions suggest the price cap could land somewhere between £4,000 and £5,000 a year.Much has been said this week about households, but what about businesses which are slowly being crushed under the weight of rising costs?Not protected by an energy cap, some hospitality bosses are said to be considering closing down due to unprecedented energy bills while three quarters are thinking about reduced opening hours.And with household prices set to soar, a Don’t Pay UK movement has grown suggesting cancelling direct debits – but is that a wise idea? Hosted on Acast. See acast.com/privacy for more information.

The idea of the Bank of England raising base rate by 0.5 percentage points at the same time as warning about a long and painful recession would have been unthinkable a year ago.But things have dramatically changed and central banks are desperately trying to get a grip on runway inflation that just seems to keeo getting worse.Base rate has risen from 0.1 per cent in December to 1.75 per cent now and is set to keep climbing, but why trigger a recession to get inflation driven by outside forces under control.On this podcast, Georgie Frost, Tanya Jefferies and Simon Lambert discuss the rate rise and potential recession and what it means for borrowers, savers, the economy and our financial near future.Also on this episode, how can you prepare for the mortgage crunch as rate rises hit homeowners and Simon gives his tip on how to take the temperature of the property market... by looking at what's not selling.And Tanya gives an update on two important pensions issues: women's lower retirement savings and how to keep more of your pension pot out of the taxman's clutches. Hosted on Acast. See acast.com/privacy for more information.

This summer has seen travel demand rebound and for many, it could be their first overseas jaunt since before the pandemic.For that reason, there may be some rusty holidaymakers out there. But fear not, Lee Boyce, Helen Crane and Georgie Frost are at hand to help get you in the holiday mood (kind of).They talk about what you need to think about before a trip, from sorting out your passport with plenty of time to why it is imperative to have good quality insurance. It may not be sexy, but it is vital.Then, while you're away, what to think about in terms of spending money and little tips and tricks to save cash.We also ask if the days of cheap flights are over thanks to fuel price rises, whether chickenpox just before you go away means an automatic refund and more pearls of wisdom from decades of travel experience.Elsewhere, there are dire pension warnings linked to inflation. A new study believes that fewer than two in five households will be on course for a decent retirement due to the soaring cost of living. What can be done about it?And a large factor of that soaring cost of living is energy bills. Next month, we'll fully know just how high the price cap will head.Many are facing bill rises that they simply cannot afford. One part of the cost that is a real bugbear for many are standing charges. What are they and why can they not simply be cut? Hosted on Acast. See acast.com/privacy for more information.

Barney Whiter, an expert in financial independence, shares his journey to retire at 43. He discusses earning more, spending less, and wise investing for financial independence. The podcast explores challenges of relying on savings, criticisms of the FIRE movement, and finding balance between frugality and enjoying life.

Financial independence and retiring early sounds great, but could you sacrifice enough of your spending to get there?The so-called Fire movement involves living a frugal live, saving as much of your income as possible – 50 per cent or more – and investing to build a pot to retire early on.Ideally, this needs to be 25 times your annual spending requirements, so that you can follow the 4 per cent rule on how much of your pot you spend each year.Advocates of financial independence will tell you that this requires giving up much of our modern-day consumer lifestyle but that it’s worth it in the end, as they can then live their lives on their own terms.Could you do this and would the This is Money podcast’s Georgie Frost, Lee Boyce and Simon Lambert be able to stomach the hardcore budgeting and saving it requires?On this podcast, the team discuss financial independence, its attractions and the drawbacks of getting there.And don't miss our second special bonus podcast this week, where Simon speaks Barney Whiter, of The Escape Artist blog, who helps others to try to achieve the same financial independence he has.Also, on this week’s podcast, inheritance tax is catching more people in its net, what can you do about that and is it time for the tax to change?Plus, why inflation is causing problems for the national debt and should a reader use a £60,000 sum sitting in a low rate cash Isa to pay off some of their mortgage? Hosted on Acast. See acast.com/privacy for more information.

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