S3E8 – Dave Southby – Pensions, ISAs, Inheritance and Permission to Spend

Ask a financial planner to name the best investment you can make for later life and you'd expect to hear pensions or ISAs. Dave Southby's answer? Your health. Money buys experiences, time and memories, but only if you're fit enough to enjoy them.

There's plenty of money talk on the way to that answer. James and Dave cover the questions that come up again and again: where to save for the grandchildren, whether to bring old pensions together, coping with the cost of living on a fixed income, how to spot a financial scam, and the inheritance tax allowance that took James completely by surprise. Dave also explains why so many people reach retirement afraid to spend the pot they spent a lifetime building, and why you don't need to be wealthy to sit down with an adviser.

Please note: this episode is general information, not financial advice. Everyone's circumstances are different, so please speak to a qualified financial adviser before making any financial decisions.

Find Dave: www.southbyfp.co.uk

Dave and the Southby & Co team are walking 26 miles from Stonehenge to Avebury and running the Swindon Half Marathon this September for Wiltshire Treehouse, a charity supporting bereaved children and young people. Support them here: https://www.peoplesfundraising.com/fundraising/southby-co-s-summer-of-fundraising

Fancy sorting the health side? Find us at www.jimsgym.fitness

Chapters:
00:00:00 - Introduction
00:02:35 - From Land Rover to financial planning
00:06:07 - Is it ever too late to start planning?
00:09:26 - ISAs and saving for the grandchildren
00:13:17 - Pensions: consolidating and where to start
00:17:51 - The cost of living and the fear of spending
00:20:53 - Inheritance tax and the million pound allowance
00:23:07 - The 2027 pension inheritance tax change
00:29:13 - Financial scams and staying safe
00:31:46 - Why health is the best investment you can make
00:35:26 - Dave's charity challenges