78: What If You Live to 100? Retirement Planning for Longevity, Care Costs and the Unexpected

78: What If You Live to 100? Retirement Planning for Longevity, Care Costs and the Unexpected

Living to 100 might sound like a good problem to have – but have you planned for it financially? In this episode of Retire Well, Matthew and Joe explore the challenges and opportunities that come with a longer retirement. From longevity risk and running out of money, to care fees, inheritance planning and lasting powers of attorney, they discuss the key issues that can affect your finances in later life. You'll learn: What longevity risk means and why it matters Why planning to life expectancy may not be enough How inflation can impact a retirement lasting 30–40 years The realities of funding care and care home fees Common misconceptions around NHS care and gifting assets How immediate needs annuities work Why lasting powers of attorney are essential for later-life planning How cashflow modelling can help stress-test your retirement plan Whether you're approaching retirement or already enjoying it, this episode will help you think beyond the early years and build a plan that's designed to withstand life's uncertainties. Listen now and learn how to balance enjoying retirement today while protecting your financial future tomorrow. -- CHAPTERS 00:00 - Introduction 02:06 - Why do we need to think about longevity? 10:10 - How does it impact your spending? 13:05 - How to approach care fees 23:38 - What are LPAs and how to use them 25:46 - How to stress test your plan -- LIVE Q&A Join our next live Q&A by registering on our website: https://www.retirewellpodcast.co.uk/events [https://www.retirewellpodcast.co.uk/events] -- TALK TO US Call us: 0191 384 1008 [tel:0191 384 1008] Email us: retirewell@wealthofadvice.co.uk [retirewell@wealthofadvice.co.uk] Website: www.retirewellpodcast.co.uk [www.retirewellpodcast.co.uk] -- SUBSCRIBE TO OUR NEWSLETTER www.retirewellpodcast.co.uk [www.retirewellpodcast.co.uk] --- Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.

77: Pension Transfers, Inheritance Tax & Advice Fees: Your Retirement Questions Answered

In this listener Q&A episode of Retire Well, Matthew and Joe answer some of the most common retirement and financial planning questions submitted by viewers and podcast listeners. This episode covers: ✅ Should you transfer your current workplace pension when consolidating old pensions? ✅ Defined benefit pensions and early retirement factors explained ✅ How the April 2027 inheritance tax changes will affect pensions ✅ Using annuities to reduce inheritance tax liabilities ✅ Gifts from income, trusts and discounted gift trusts (DGTs) ✅ Residence nil rate band and passing property through trusts ✅ The pros and cons of percentage-based financial advice fees ✅ Why financial planning is about far more than investment performance From pension consolidation and retirement income strategies to complex inheritance tax planning, Matthew and Joe break down the key principles that can help you make better financial decisions. Got a question for a future episode? Leave a comment or join our next live Listener Q&A on 29th July. -- CHAPTERS: 00:00 - Introduction 00:55 - Pension Consolidation 05:30 - Inheritance Tax Planning & Pensions 15:14 - Placing Property Into a Trust 20:00 - Discounted Gift Trusts Explained 26:25 - Financial Advice Fees Explained -- LIVE Q&A Join our next live Q&A by registering on our website: https://www.retirewellpodcast.co.uk/events [https://www.retirewellpodcast.co.uk/events] -- TALK TO US Call us: 0191 384 1008 [tel:0191 384 1008] Email us: retirewell@wealthofadvice.co.uk [retirewell@wealthofadvice.co.uk] Website: www.retirewellpodcast.co.uk [www.retirewellpodcast.co.uk] -- SUBSCRIBE TO OUR NEWSLETTER www.retirewellpodcast.co.uk [www.retirewellpodcast.co.uk] --- Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.

76: How to Use Your Tax Free Cash in Retirement

Tax-free cash is one of the most talked-about features of pensions—but are you using it the right way? In this episode of Retire Well, Matthew and Joe break down common misconceptions and explore smarter, more strategic ways to use your pension’s tax-free cash. From improving tax efficiency to boosting long-term wealth and even supporting inheritance planning, how and when you access your money can have a huge impact on your retirement. We cover: * Why you don’t have to take your tax-free cash all at once * How to use it as a tax-efficient income stream * When taking a lump sum actually makes sense * Strategies for reinvesting tax-free cash wisely * The role tax-free cash can play in gifting and estate planning * Key differences between defined contribution and defined benefit pensions * Important considerations around age 75 and inheritance tax If you’re approaching retirement or already there, this episode will help you make more informed decisions and avoid costly mistakes. --CHAPTERS:00:00 - Introduction03:24 - Don't Tax Your Tax-Free Cash Immediately05:42 - Defined Benefit vs Defined Contribution Tax-Free Cash09:45 - Using Your Tax-Free Cash As Income14:21 - Reinvesting Your Tax-Free Cash23:00 - Gifting Your Tax-Free Cash24:54 - Planning Before Age 7527:00 - Listener's Question--TALK TO USCall us: 0191 384 1008 [tel:0191 384 1008]Email us: retirewell@wealthofadvice.co.uk [retirewell@wealthofadvice.co.uk]Website: www.retirewellpodcast.co.uk [www.retirewellpodcast.co.uk]--SUBSCRIBE TO OUR NEWSLETTERwww.retirewellpodcast.co.uk [www.retirewellpodcast.co.uk]---Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.

75: Do You Really Need a Financial Planner? When, Why & How to Choose One

Thinking about getting financial advice but unsure where to start? In this episode of Retire Well, Matthew and Joe break down exactly when you might need a financial planner, the value they bring, and how to choose the right one for you. They tackle common misconceptions (hint: it’s not just about picking investments), explain how financial planning can help you avoid costly mistakes, and explore why advice can be just as crucial when spending your money in retirement as it is when building it. You’ll also learn: The key life stages where advice can make the biggest impact How financial planning goes beyond investments to focus on your goals Why some people wish they’d sought advice earlier What to look for when choosing a trustworthy financial planner How fees work—and what you’re actually paying for Whether you’re just starting to build wealth, approaching retirement, or wondering if you’re on the right track, this episode will help you decide if financial advice is right for you. -- CHAPTERS: 00:00 - Introduction 05:48 - When do you need financial advice? 17:28 - What is the financial planning process? 22:23 - How to choose a Financial Planner 27:40 - What does financial planning cost? 30:50 - Quickfire Questions -- TALK TO US Call us: 0191 384 1008 [tel:0191 384 1008] Email us: retirewell@wealthofadvice.co.uk [retirewell@wealthofadvice.co.uk] Website: www.retirewellpodcast.co.uk [www.retirewellpodcast.co.uk] -- SUBSCRIBE TO OUR NEWSLETTER www.retirewellpodcast.co.uk [www.retirewellpodcast.co.uk] --- Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.

74: Pensions are Changing - What the New Inheritance Tax Rules Mean For You

Pensions have long been one of the most tax-efficient ways to pass on wealth—but major rule changes coming in 2027 are set to shake that up. In this episode, Matthew and Joe break down how pensions currently fit into estate planning, what’s changing, and why it could significantly impact how (and when) you use your retirement savings. From the “first in, last out” strategy to the risk of double taxation, they explore the real implications for your long-term financial plan. They also discuss practical strategies to navigate the changes, including spending, gifting, trusts, insurance, and planning across generations—helping you balance retirement income with leaving a legacy. Whether you’re approaching retirement or already there, this episode will help you understand what’s coming—and how to plan with confidence. 📩 Got questions or want help with your own retirement plan? Email us at: retirewell@wealthofadvice.co.uk [retirewell@wealthofadvice.co.uk] -- SIGN UP FOR OUR LIVE Q&A https://www.retirewellpodcast.co.uk/events [https://www.retirewellpodcast.co.uk/events] -- CHAPTERS: 00:00 - Introduction 02:30 - What are the rules? 11:36 - How to fix it 22:06 - Loan Trust 24:33 - Discounted Gift Trust 26:04 - Business Relief 26:59 - Gifting 31:32 - Listeners Question -- TALK TO US Call us: 0191 384 1008 [tel:0191 384 1008] Email us: retirewell@wealthofadvice.co.uk [retirewell@wealthofadvice.co.uk] Website: www.retirewellpodcast.co.uk [www.retirewellpodcast.co.uk] -- SUBSCRIBE TO OUR NEWSLETTER www.retirewellpodcast.co.uk [www.retirewellpodcast.co.uk] --- Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.