Tony Talks Wealth Podcast

Welcome to the 100th episode of Tony Talks Wealth! Listen to Tony talk to wealth experts from many of his recently published podcasts and share their wisdom on the question that Tony asks all his guests ; What does wealth mean to you? Sign Up Now For These Exclusive Podcasts and MORE Tony Talks Wealth Content at https://www.patreon.com/TTWealth  GUESTSSteve ConleyBev JonesKristina WiseFanny SnaithAngel RiboJim MeulhhausenRick HeylandJoseph WilkinsDr Clemen ChiangmaiEA CsolkovitsBEST MOMENTS‘The three kinds of wealth, financial wealth, health, and social wealth. Entrepreneurs are terrible about two of those three! They are! They work too much, they don’t have work-life balance.’‘Work hard is the secret ingredient that surpasses everything from your I.Q. to your E.Q. to your family background if you are willing to work hard.’ ‘It’s balanced and successful in all areas of my life and focusing on the most important things, whether it be spiritual, my health and fitness, my relationships or my work and finances. Those are the four buckets that I generally think about.’ ‘I am a multi-millionaire when it comes to my life. Really, I am. When it comes to the most amazing family, the most amazing friends. I’m so fortunate that I’ve got good health, and my family has got good health.VALUABLE RESOURCESTony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  ABOUT THE HOSTTony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  “Live For Today, Invest For Tomorrow”CONTACT METHODTony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/This show was brought to you by Progressive Media Hosted on Acast. See acast.com/privacy for more information.

Individual Savings Accounts (ISA) are a great way of saving and minimising the amount of tax you have to pay on your investment returns. Tony talks about the different kinds, how they work and how they can benefit you and your Investment Plan.KEY TAKEAWAYSSome ISA’s give you instant access to your money and can be used to plan your finances in the short term. You can also invest in an ISA for the future.If you are a UK resident over the age of 18 you can open up one of each kind of ISA over the tax year. Cash ISAs do not invest in the stock market and the investment relies on interest rates. It can act as an emergency access fund for expenses.Stocks and Shares ISAs is a tax efficient investment that allows you to invest your money in shares, government bonds or property with the assurance that you won't pay any capital gains tax or income tax on the proceeds. The Innovative Finance ISA. It allows you to lend money through peer to peer lending platforms to allow you to receive tax free interest and capital gains.BEST MOMENTS‘In the current tax year 2022/23 you can put £20,000 into your tax efficient ISA before the end of the financial year on the 5th April.’‘The main factors to consider when choosing between a cash ISA and a stocks and shares ISA are the length of time you’ll be saving or investing.’ ‘Peer to peer lending is a higher risk form of investing and your capital is completely at risk as there is no protection from the Financial Services Compensation Scheme.’ VALUABLE RESOURCESTony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  ABOUT THE HOSTTony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  “Live For Today, Invest For Tomorrow”CONTACTTony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/This show was brought to you by Progressive Media Hosted on Acast. See acast.com/privacy for more information.

Risk tolerance is one of the biggest factors in your investment decision process. Tony talks about how to decide how much risk to take depending on your circumstances, goals and individual comfort level when it comes to risk.KEY TAKEAWAYSConsider how you would feel if your investments lost money in the short term. If this makes you anxious, you may be significantly risk averse. If you are comfortable with this circumstance, however, you may be able to take on more risk.Understanding if you are comfortable with volatility or stability and slower growth will help you decide which investments to make and over what time period.There is no such thing as a no risk investment but manage it by diversifying over the long term.BEST MOMENTS‘Your potential returns available from different kinds of investment and the risk involved change over time as a result of economic, political and regulatory developments.’ ‘Volatility is a measure of how much prices fluctuate over time. Investments that are more volatile have bigger ups and downs in value, while less volatile investments will have slower steadier price increases.’‘An interest rate risk is a particular risk for bond holders. We all have our own individual risk tolerance, and it's important to establish what that is.’VALUABLE RESOURCESTony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  ABOUT THE HOSTTony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  “Live For Today, Invest For Tomorrow”CONTACTTony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/This show was brought to you by Progressive Media Hosted on Acast. See acast.com/privacy for more information.

Investing can be a very complicated and confusing process, especially for those who are new to it. There are so many options and strategies out there and it can be difficult to know where to start. Having a clear understanding of what you are hoping to achieve and your current finances is essential before you start to decide how you are to move forward toward your goal. Tony talks about how you can achieve this. KEY TAKEAWAYSCash Flow Modelling (CFM) is a powerful tool that can help you take control of your finances and move toward your investment objectives.With CFM you can clearly understand your financial situation, identify any areas where you may be overspending, discover opportunities to save, make more informed decisions about investments and set realistic goals.CFM provides a detailed picture of your investments, debts, income and expenditure.This system creates different scenarios based on future decisions you may make and illustrates the effect they will have on your finances.You will need periodic checks to ensure that your plan is on track and make any necessary alterations.BEST MOMENTS‘By creating a model of your income and expenditure you can see exactly where your money is going and make informed decisions on how best to manage your resources.’‘The process shows your current position relative to your preferred position and your goals by assessing your current and forecast wealth along with income inflows and expenditure outflow.’‘A snapshot in time is taken of your finances with calculated rates of growth, income, tax and so on.’ VALUABLE RESOURCES Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth   ABOUT THE HOST Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, and Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  “Live For Today, Invest For Tomorrow” CONTACT Tony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedInThis show was brought to you by Progressive Media Hosted on Acast. See acast.com/privacy for more information.

Goals based investing is a great way to make wise financial decisions when you are overwhelmed by the choice in investment options. Tony talks about how to navigate the myriad of investment products available today by clarifying what you are really aiming for in the future.KEY TAKEAWAYSA variety of financial goals such as retirement, home purchases or saving for a child’s education can be specified specifically to make choices on investments.Focus on the long term. You are less likely to make impulsive, short term decisions.Have a disciplined approach to investing to avoid spoiling your progress with spending sprees and costs.When you have a concrete set goal you have increased motivation. Set yourself realistic goals. BEST MOMENTS‘Goals should be clear, concise, detailed and written down because, remember, unwritten goals are just wishes.’‘In order to achieve all of your goals you will need a plan. Starting from assets you already have available, you will need to determine how much more you will need to accumulate and when you will require it.’‘Decide what you want to achieve. This may seem obvious but it is important to take the time to really think about your goals.’ ‘Give yourself realistic deadlines.’ VALUABLE RESOURCESTony Talks Wealth - https://omny.fm/shows/tony-talks-wealth  Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth  ABOUT THE HOSTTony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  “Live For Today, Invest For Tomorrow”CONTACTTony’s official website: https://ttwealth.co.uk/Facebook: https://www.facebook.com/TonyThomas.IFA/LinkedIn: https://www.linkedin.com/in/tonythomas2/This show was brought to you by Progressive Media Hosted on Acast. See acast.com/privacy for more information.