Saving, investing, property and pensions: How to grow your wealth long-term
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 26 July 2024
⏱️ 50 minutes
🧾️ Download transcript
Summary
But there's lots to consider at each step - and most people will want to buy a home along the way.
So what do you need to think about when sketching out your lifetime finances and then trying to achieve your goals?
On this podcast, Georgie Frost and Simon Lambert take it step by step and look at each element of saving, investing, buying a home and building a pension.
How much should you have in an emergency savings pot?
How do you move from saving to investing?
How can first-time buyers get ahead in tricky times?
How much do you need to save for retirement?
They look at all of these things and more.
Transcript
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| 0:00.0 | Welcome to This Is Money podcast sponsored by Charles Stanley Direct. I'm Georgie Frost and joining me today is Simon Lambert. |
| 0:09.2 | And coming up, size matters. How big should your emergency savings really be? |
| 0:14.9 | Almost 80% of potential first-time buyers don't have enough savings for a deposit. |
| 0:20.2 | Simon offers some pearls of wisdom. |
| 0:22.7 | We explore how to make the step from saving to investing and the dream age to retire is |
| 0:27.6 | 62. But reality is somewhat grim for most. So how do you sort out your pension if it's falling |
| 0:34.6 | short? Don't forget you start to date with all the latest breaking money news just to go to this ismoney.co. |
| 0:39.3 | . |
| 0:40.3 | Or download the app. |
| 0:42.3 | I'm Lisa Kaplan from Charles Stanley Direct. |
| 0:44.3 | I spent 15 years helping people understand their finances with clear jargon-free language. |
| 0:51.3 | People often ask me whether they have enough to retire, what to do about inheritance tax, |
| 0:56.3 | or how best to invest. Often, it's a simple question that one of my expert team can answer straight |
| 1:02.4 | away, and we would love to help you too. Contact us for a free 15-minute chat at coaching at |
| 1:09.1 | Charles-Stanley.co.uk investment involves risk. |
| 1:13.1 | But first, savers could need up to £50,000 to have a sufficient emergency savings |
| 1:18.9 | pot depending on their age and circumstances. So begins Helen Corain's article on the subject. |
| 1:25.5 | The generally accepted idea is to have three to six months |
| 1:28.1 | worth of essential expenses set aside should the car fail the MOT or you lose your job or some |
| 1:34.0 | such thing. But Simon Lambert, 50,000 pounds. That seems a lot. And it seems a lot to hold in |
| 1:43.4 | cash, especially when we've just come out of a cost of living, high inflation, really rubbish savings rate environment. |
| 1:50.2 | But be that as it may, let's go through Helen's article here. |
... |
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