• Ep 490 - Turn £100 a month into £37k a year pension, bonds explained & self-assessment check

  • Jan 19 2025
  • Length: 38 mins
  • Podcast

Ep 490 - Turn £100 a month into £37k a year pension, bonds explained & self-assessment check

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  • Summary

  • In this week's podcast, Damien explains what's going on in bond markets and how rising bond yields could impact your personal finances, including mortgage rates and pension funds. Next, Damien explains how those aged 30, 40 or even 50 with no pension savings, can still build a retirement income equivalent to £37,500 a year (the average UK salary), by saving as little as £100 per month. Finally, with the self-assessment deadline approaching, Andy provides a simple checklist of scenarios that dictate whether a self-assessment tax return is necessary. Watch the whole show on YouTube ⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠: Check out this week's ⁠⁠⁠⁠⁠podcast article ⁠⁠⁠⁠⁠on the MTTM website to see the full list of resources from this week's show. 00:00 - Introduction and Lola's Update 02:47 - Understanding Bond Markets 15:50 - Pensions and Retirement Planning 19:18 - Strategies for Building a Pension at 30 24:39 - Strategies for Building a Pension at 40 26:14 - Strategies for Building a Pension at 50 28:37 - Navigating Self-Assessment Tax Returns Follow Money to the Masses on social media: YouTube - ⁠⁠⁠⁠⁠https://www.youtube.com/moneytothemasses⁠⁠⁠⁠⁠ Facebook - ⁠⁠⁠⁠⁠https://www.facebook.com/moneytothemasses⁠⁠⁠⁠⁠ Instagram - ⁠⁠⁠⁠⁠https://www.instagram.com/moneytothemasses⁠⁠⁠⁠⁠ Tik Tok - ⁠⁠⁠⁠⁠https://www.tiktok.com/@moneytothemasses⁠⁠⁠⁠⁠ Support the podcast You can now support the MTTM podcast by visiting our ⁠⁠⁠⁠⁠dedicated podcast page ⁠⁠⁠⁠⁠when making any financial decision. You may already compare products and services online and make purchases but by doing so via our dedicated page you might not only save money but could also earn cashback or take advantage of exclusive offers for MTTM listeners. Every time you use a link on the page we may earn a small amount of money for our podcast. We only use affiliate links that give you an identical (or better) deal than going direct. Thank you for being an incredible part of our community. Your support means the world to us. Support the show by visiting and bookmarking our dedicated podcast page: ⁠⁠⁠⁠⁠Money to the Masses Dedicated Podcast Page⁠⁠⁠⁠⁠ - Click to support the show Links referred to in the podcast: ⁠ Best mortgage rates in the UK Best questions to ask a mortgage broker Pension Calculator from Moneyhelper Pension Calculator from Hargreaves Lansdown What is auto-enrolment Check if you need to complete a self-assessment tax return Set up a payment plan with HMRC Tips for completing your self-assessment tax return for 2023/24
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