Latest / Sense Only / Are We Financially Educated or Just Being Sold To? | Chris Ighodaro - Ep 29

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Are We Financially Educated or Just Being Sold To? | Chris Ighodaro - Ep 29 · Sense Only

• 0:00
  SPEAKER_03: Bankers bless them.
• 0:01
  SPEAKER_03: They will walk in the doors as an analyst, and it doesn't take very long for them to look aged.
• 0:08
  SPEAKER_01: You're like, you are a young person, you look old after a couple of years, and it's deep.
• 0:14
  SPEAKER_06: It's a very vampire kind of environment.
• 0:19
  SPEAKER_04: Yeah.
• 0:19
  SPEAKER_06: It will suck your best years away from you.
• 0:23
  SPEAKER_06: Especially for those who are interested in financial services as a career and investment banking as a career.
• 0:29
  SPEAKER_06: For the money that you receive, there's a lot that's taken away, and it's whether you want to, whether it's worth payoff.
• 0:37
  SPEAKER_06: The payoff, if it's worth it or not.
• 0:40
  SPEAKER_03: I don't need to think about that and move on with life.
• 0:42
  SPEAKER_03: How do you make a pension more sexy, shall we say?
• 0:46
  SPEAKER_03: Or a bit more appealing?
• 0:47
  SPEAKER_03: Because as you said, it's a reality for everybody.
• 0:50
  SPEAKER_03: And the most empowered people are the people who are younger who have just started working, or people are in their in their 20s and just getting into their stride.
• 0:59
  SPEAKER_03: Actually, you guys are in the most powerful space to make it really win for you when you are mature, but at the same time, because they're younger.
• 1:09
  SPEAKER_06: Yeah.
• 1:10
  SPEAKER_06: One of the most powerful investments you can ever make is in yourself.
• 1:15
  SPEAKER_06: You get paid for skills and always be look looking about how skillful you can be and how useful you can be.
• 1:21
  SPEAKER_06: Asking what are the problems of the world, what skills do you have to help those problems, and you'll get paid for answering those problems.
• 1:30
  SPEAKER_06: Generally, people sort of who've gone through the trials and tribulations of life and have come out of it hopefully intact.
• 1:38
  SPEAKER_06: Right.
• 1:39
  SPEAKER_06: Right.
• 1:39
  SPEAKER_06: And they now have the mental space to now start thinking about their well-being from a financial perspective.
• 1:48
  SPEAKER_06: It's people who are in the mindset really, they've they've now gone through those big challenges, they've got on the other side of it, and now they're in the headspace to really think about who can I talk to, get to the next stage of those goals and aims, and um, who can I talk to actually to think about goals that I might not even have known about before?
• 2:16
  SPEAKER_03: Greetings and salutations.
• 2:17
  SPEAKER_03: I'm Alicia Mullings, and this is the Sense Only Podcast.
• 2:21
  SPEAKER_03: This podcast is for those who are tired of the noise, distraction, and disconnection in the world.
• 2:25
  SPEAKER_03: It's for those who know that we need to be the change that we need to see in the world.
• 2:30
  SPEAKER_03: Today, I have a brilliant guest.
• 2:33
  SPEAKER_03: His name is Chris Igodaro.
• 2:35
  SPEAKER_03: He reached out to me and we are going to discuss finances once again.
• 2:40
  SPEAKER_03: This is going to be a running theme on this podcast because if there's anything that we need to sort out as a people, is getting on point and getting on top of our financial situations so we can make a change in our lives, shift and do better.
• 2:55
  SPEAKER_03: So Chris is here to talk to us.
• 2:58
  SPEAKER_03: He's a financial coach and is here to get everybody together.
• 3:03
  SPEAKER_03: I am over the moon to introduce to you, Chris.
• 3:06
  SPEAKER_03: Thank you very much, Alisa.
• 3:08
  SPEAKER_03: That's okay.
• 3:09
  SPEAKER_03: Thank you for coming.
• 3:10
  SPEAKER_03: No worries at all.
• 3:11
  SPEAKER_03: Please tell the people who you are and what it is that you do.
• 3:14
  SPEAKER_06: So I am a financial coach and I help people, give them the tips, the tools, the strategies that will allow them to think about money and allow them to really move forward with a plan, with a goal that will help them succeed, which will help them meet their aims and goals.
• 3:40
  SPEAKER_06: And this is done through basically 25 years of my experience looking after the most wealthiest people that you can imagine.
• 3:50
  SPEAKER_06: I come from a background where I I've heard from the tips and I heard from tricks from people who have been very successful in their career.
• 4:01
  SPEAKER_06: But also I had learned from studying financial services, from studying wealth management, what are the key things that allow somebody to follow a plan from start to finish to manage so that they can have a sustainable and a successful retirement?
• 4:23
  SPEAKER_03: Okay, brilliant.
• 4:24
  SPEAKER_03: I'm interested to learn about these tips and tricks.
• 4:27
  SPEAKER_03: But before we do that, there's a question that I ask everyone who's coming on this podcast, and I've been consistent.
• 4:32
  SPEAKER_03: I'm actually proud of myself.
• 4:34
  SPEAKER_03: What have you done recently that's made you feel proud?
• 4:37
  SPEAKER_06: I think what I've done recently that I can really feel proud of was I went to an award ceremony because I do mentoring.
• 4:47
  SPEAKER_06: Okay.
• 4:47
  SPEAKER_06: I mentor students at City University, and um what it is, is a program which helps young people who are postgraduate students or about to graduate from their postgraduate studies.
• 5:03
  SPEAKER_06: It allows them to learn from somebody who's experienced, who has basically spent a lot of time working, and we help people with their interview techniques, we help them with their LinkedIn strategy, we help them with the um all of the things that they need in their first 100 days or up to their first sort of like year, um, how to navigate um the workplace.
• 5:32
  SPEAKER_06: Okay.
• 5:32
  SPEAKER_06: Um, so we're here in this program to help people.
• 5:37
  SPEAKER_06: Now I talk about this program because I was invited to the awards ceremony.
• 5:43
  SPEAKER_06: I was sitting there just taking in the environment, and there was a nomination that was read out, and it was from um what in the end was my mentee.
• 5:55
  SPEAKER_06: Okay, and they read out what I did well, and then they named the person who was it was attached to, and it was my name.
• 6:05
  SPEAKER_06: So I um achieved this award.
• 6:08
  SPEAKER_06: It was an excellence in mentoring awards.
• 6:12
  SPEAKER_04: Well done, congrats.
• 6:13
  SPEAKER_06: Thank you.
• 6:13
  SPEAKER_06: And um I came up onto the stage and I was so grateful for it.
• 6:18
  SPEAKER_06: It was something that I never expected to receive.
• 6:21
  SPEAKER_06: I've been doing mentoring at the program at City University for at least eight years.
• 6:27
  SPEAKER_06: I'd never received a award before an award before for my mentoring.
• 6:32
  SPEAKER_06: And so it was an affirmation really of all the time that I'd been spending doing the mentoring, and finally somebody had recognized me and the committee that sits and makes these um turns these nominations into an awards felt that my um contribution in this particular year was w worth noting, and that's that that's been my sort of a moment that I've I've found very um emotional and um self-fulfilling.
• 7:05
  SPEAKER_03: Love it.
• 7:05
  SPEAKER_06: Yeah.
• 7:06
  SPEAKER_03: I love that for you.
• 7:07
  SPEAKER_03: Well done.
• 7:08
  SPEAKER_03: Thank you very much.
• 7:09
  SPEAKER_03: So, in terms of what you're doing, what was your call?
• 7:11
  SPEAKER_03: In terms of even though you're qualified in financial services, for in fact that nobody else knows, I actually work in financial services.
• 7:20
  SPEAKER_03: People see me complaining about my corporate job, but they're definitely like, what is a corporate job?
• 7:24
  SPEAKER_03: I work in financial services.
• 7:26
  SPEAKER_03: Yeah, yeah, with an investment bank.
• 7:28
  SPEAKER_03: So I'm in that environment, so I can definitely say firsthand, I'm in that environment.
• 7:36
  SPEAKER_03: I see whom is in there and what's happening in there.
• 7:39
  SPEAKER_03: I see the fight and the struggle that people are going through in there.
• 7:42
  SPEAKER_03: Like it's it's not glamorous that people might might imagine from watching certain movies.
• 7:50
  SPEAKER_03: Um, it yeah.
• 7:51
  SPEAKER_03: So I said that to say, I know within financial services, people are busy and going through it.
• 7:58
  SPEAKER_03: So therefore, I see I see certain level of survival energy up in there that people would never actually imagine if they're not in them environments.
• 8:07
  SPEAKER_03: Um, because as I say, it looks very glamorous.
• 8:09
  SPEAKER_03: Um, what's shifted in you to be like, okay, um I'm doing what I'm doing as a day job?
• 8:14
  SPEAKER_03: Yeah.
• 8:14
  SPEAKER_03: What's shifted in you?
• 8:16
  SPEAKER_03: What call did you receive to be like, okay, I need to give back, I need to, I I've gained all this this um this information, and something's obviously clicked to be like, I can help my people with this.
• 8:28
  SPEAKER_03: I I have the qualifications to help, but there's something that would have happened for you to actually actually execute and and do it because unfortunately we have a lot of people who love to chat.
• 8:43
  SPEAKER_03: People talk about all the things and then nothing happens.
• 8:46
  SPEAKER_03: So there's something very special in people who actually move on from chatting to execution, and these are the people who reach this podcast, so bless you, you've reached it and give thanks.
• 8:57
  SPEAKER_03: What made you actually take that action?
• 8:59
  SPEAKER_06: Well, thanks for the question, Alicia.
• 9:02
  SPEAKER_06: Um, there wasn't one particular moment.
• 9:04
  SPEAKER_06: I would love to say, and I think it would make great sort of a great story if there was like this blinding light, this Damascene moment, St.
• 9:12
  SPEAKER_06: Paul, and all of this.
• 9:14
  SPEAKER_06: But it wasn't like that at all.
• 9:16
  SPEAKER_06: Okay.
• 9:17
  SPEAKER_06: Um, I've been thinking about helping people for the last 10-15 years, and I've been thinking about how to do it as a um job, as a full-time role or as a business for the longest time.
• 9:34
  SPEAKER_06: Um, again, pretty much for the last sort of 10 years.
• 9:38
  SPEAKER_06: But as you know, the financial services market is very challenging.
• 9:44
  SPEAKER_06: Um, and you would know more in investment banking than in volatile is the word I'd use.
• 9:50
  SPEAKER_01: Exactly.
• 9:50
  SPEAKER_06: More than wealth management.
• 9:52
  SPEAKER_06: I mean, very volatile.
• 9:55
  SPEAKER_03: Stories, I've heard about bankers sleeping on the desks.
• 9:58
  SPEAKER_03: Yes, they don't reach their house.
• 10:00
  SPEAKER_06: It's exactly a trip.
• 10:02
  SPEAKER_03: As I said, I'm gonna start a community and do story time for all the things that is my life.
• 10:06
  SPEAKER_03: It is I'm gonna include that.
• 10:08
  SPEAKER_06: Definitely is worth knowing about.
• 10:11
  SPEAKER_06: It is, it is, yeah, especially for those who are interested in financial services as a career and investment banking as a career.
• 10:18
  SPEAKER_06: For the money that you receive, there's a lot that's taken away, and it's whether you want to, whether it's worth I see people stop the payoff, the payoff, if it's worth it or not.
• 10:28
  SPEAKER_03: There's bankers, just as a side note, there's bankers, bless them.
• 10:31
  SPEAKER_03: They will walk in the doors as an analyst, and it doesn't take very long for them to look aged.
• 10:38
  SPEAKER_01: You're like, you are a young person, you look old after a couple of years, and it's deep.
• 10:44
  SPEAKER_06: It is, anyway.
• 10:47
  SPEAKER_06: I mean, it's a very vampire kind of environment.
• 10:52
  SPEAKER_06: Yeah, it will suck your best years away from you.
• 10:56
  SPEAKER_06: Yeah, there's people your very, very your peak.
• 10:59
  unknown: Yeah.
• 11:00
  SPEAKER_06: We're talking about like from 24 to 34, it will suck you dry and it will and and it will spit you out.
• 11:07
  SPEAKER_06: Yeah, obviously.
• 11:08
  SPEAKER_06: Because a lot of the guys after 34 don't really, but they're rewarded for it.
• 11:12
  SPEAKER_06: And everyone makes that pat.
• 11:15
  SPEAKER_06: Yeah.
• 11:15
  SPEAKER_06: Right?
• 11:16
  SPEAKER_06: Um, but that's an aside.
• 11:19
  SPEAKER_06: In terms of me, um, what I've seen um in wealth management, which is a different area, is that um after the pandemic, there was a lot of rotation, a lot of volatility in roles, jobs, the whole office.
• 11:35
  SPEAKER_06: Do they want an office uh environment for people that don't know?
• 11:40
  SPEAKER_06: Costs has been changing all of the time.
• 11:44
  SPEAKER_06: So I was working really in 20 sort of 21 through a redundancy program that um had happened, and that was a time where I used the material that I had been compiling about what is the best way to provide some of the or distilling the information that I had learned at taking that and providing that to ordinary investors, providing that to people who might not be able to afford to have a private banker or to have a wealth manager or to have a financial advisor.
• 12:21
  SPEAKER_06: How can I provide that to an ordinary investor?
• 12:24
  SPEAKER_06: And so I sort of created a program and I put a lot of information together, and then I sort of went back into work when I found that work, and but it was always at the back of my mind, and then I was kind of forced back into a situation again where there was a lot of rotation, and um I found myself again back into a situation where I had been let go from my job from um these organizations which are still working out what is the best way forwards, and so again, it was kind of a moment where, and this is in sort of at the start of 2025, where I thought, well, I've built all of this material together already, they're still trying to work out where they are.
• 13:11
  SPEAKER_06: What do I do?
• 13:12
  SPEAKER_06: Do I sort of sit and wait for them to decide with what's what what they want the best model to be, or do I take this forward?
• 13:20
  SPEAKER_06: Save yourself, yeah.
• 13:22
  SPEAKER_03: Basically, yeah, and and take control for yourself and then don't don't have your destiny in somebody else's hands.
• 13:29
  SPEAKER_03: Absolutely from what you've just said, absolutely, in a nutshell, that's what it is, yeah, yeah.
• 13:33
  SPEAKER_06: And and and also it meant that there's resilience.
• 13:38
  SPEAKER_06: Once I've built properly what I've built, that was the mindset going through 25 into 26.
• 13:45
  SPEAKER_06: Once I've built it, nobody can take it away from me.
• 13:49
  SPEAKER_06: So, if for instance, there was a serious role that came my way, which I couldn't say no to, I had at the very least, there's a backup.
• 13:59
  SPEAKER_06: Okay.
• 14:00
  SPEAKER_06: There's a plan B.
• 14:01
  SPEAKER_06: If it all again happens, that I'm made redundant.
• 14:05
  SPEAKER_06: Okay.
• 14:06
  SPEAKER_06: And also there's a situation whereby you're I'm always gonna be in the back of my mind, okay, I might get that role, but how long will I have that role for?
• 14:16
  SPEAKER_06: So I'm back to square one again.
• 14:18
  SPEAKER_06: So it's either just do it now and just ignore everything that's going on because at some point, two years, four years, five years from now, I'm gonna be back to where I am before getting the role.
• 14:32
  SPEAKER_03: Okay.
• 14:32
  SPEAKER_06: Yeah.
• 14:33
  SPEAKER_03: And for me to just interject.
• 14:35
  SPEAKER_06: Yes, of course.
• 14:36
  SPEAKER_06: I'm sure it's beautiful to also be of service to people.
• 14:40
  SPEAKER_06: It's outside of that.
• 14:42
  SPEAKER_06: Yeah.
• 14:42
  SPEAKER_06: Look, the role that I have helps people anyway, but now it's a different kind of cohort of people that I'm helping.
• 14:50
  SPEAKER_06: This is it.
• 14:51
  SPEAKER_06: Yeah.
• 14:51
  SPEAKER_06: What does wealth mean to you?
• 14:53
  SPEAKER_06: Wealth in the standard sense is the assets that you sort of build up, the material assets.
• 15:00
  SPEAKER_06: That that's the standard definition of it, right?
• 15:03
  SPEAKER_06: It's something that is measurable in pounds and pence.
• 15:10
  SPEAKER_06: But I found in time, all over time, that it's far more holistic, it's far wider definition.
• 15:18
  SPEAKER_06: Wealth is the assets that you have in terms of material, but you your wealth is also what you've accumulated in terms of friendships, is what you've accumulated in terms of knowledge, is it what you've accumulated in terms of experience.
• 15:35
  SPEAKER_06: And that is worth something, but it's not measured and can't be.
• 15:41
  SPEAKER_06: There isn't people there out there who've measured it properly.
• 15:45
  SPEAKER_06: Um, they can't create or haven't been able to haven't been able to create a proper language that describes it.
• 15:53
  SPEAKER_06: Because of that, I feel that actually what I'm trying to do with my coaching is for people to realize that it is more than just what we're trying to do is trying is trying to give something to the next generation.
• 16:08
  SPEAKER_06: The coaching I give to people, the information I give to them is something that will help them, but it sticks in their head and it's something that they can pass on to whoever, their family, their community, everyone wins from it.
• 16:24
  SPEAKER_03: Who are you targeting to help?
• 16:26
  SPEAKER_03: Um, is a specific age group, like as you mentioned, your cohort.
• 16:29
  SPEAKER_03: Who is your audience?
• 16:32
  SPEAKER_06: So I would say that my audience is adults who have amassed for themselves enough opportunities in life so that they can start thinking and they've got that free time to start thinking.
• 16:49
  SPEAKER_06: Okay, I want to invest in my well-being.
• 16:52
  SPEAKER_06: So that's generally people sort of who've gone through the trials and tribulations of life and have come out of it hopefully intact.
• 17:01
  SPEAKER_06: Right.
• 17:02
  SPEAKER_06: Right.
• 17:02
  SPEAKER_06: And they now have the mental space to now start thinking about their well-being from a financial perspective.
• 17:11
  SPEAKER_06: Um, some people get that self-realization quite early, but most of us do not.
• 17:17
  SPEAKER_06: So generally, it's people kind of like after this sort of phase of they've got that house now, they're in that job for X number of years, right?
• 17:27
  SPEAKER_06: And now they can start thinking about okay, those challenges that I thought was important to me.
• 17:33
  SPEAKER_06: Now I can start thinking about the other goals that I need in my life.
• 17:37
  SPEAKER_06: I can start thinking about, well, how do I fund for my child's university?
• 17:42
  SPEAKER_06: Or how do I fund for my retirement?
• 17:45
  SPEAKER_06: When do I want to retire?
• 17:48
  SPEAKER_06: Do I ever want to retire at all?
• 17:50
  SPEAKER_06: How much money do I want to accumulate for a business?
• 17:53
  SPEAKER_06: How much do I want to accumulate for care for my mother, for my um, you know, somebody who I care about?
• 18:00
  SPEAKER_06: Am I thinking about, you know, the fact that I'm gonna be living longer?
• 18:04
  SPEAKER_06: You know, so it's people who are in the mindset really, they've they've now gone through those big challenges, they've got on the other side of it, and now they're in the headspace to really think about who I can talk to to get to the next stage of those goals and aims, and um, who can I talk to actually to think about goals that I might not even have known about before?
• 18:26
  SPEAKER_03: So I was just thinking the word wealth.
• 18:29
  SPEAKER_03: Um, I can see that some people may feel separate from that word.
• 18:34
  SPEAKER_03: There may be a separation because obviously wealth is it's it's held in a got lots of money space.
• 18:44
  SPEAKER_03: How would you allow more of an everyday person who because everything you've just said is fair for regular people to actually have to think about because it's it's real life as you move through age, you're gonna get to a point where if you've got a J O B, not gonna want you anymore, I'm afraid.
• 19:01
  SPEAKER_03: Sorry.
• 19:01
  SPEAKER_03: So therefore, you know, retirement is is a thing, and hopefully everyone's working towards that.
• 19:07
  SPEAKER_03: Because do you want to work forever in a job?
• 19:09
  SPEAKER_03: If you're working in something that's your passion and you love, then you you'll do it until you close your eyes.
• 19:14
  SPEAKER_03: Yeah, great, but for everyone else, so I said that to say, how do you connect the word wealth to those people?
• 19:21
  SPEAKER_03: Because it's still a reality for those people, because I can definitely already because I was sitting here, I was thinking, I was just running through different people, I was listening to you, but I was thinking, how many people would have a disconnect from what you was you was literally saying, even though it could apply to them that may feel separate from that?
• 19:37
  SPEAKER_03: How would you connect regular people to a word like wealth?
• 19:42
  SPEAKER_03: Because it's usually I work, I work in Mayfair, so that it's gonna be more of an elite space, you're gonna be oh, wealth, it's them like over there in you know park lane or da da da, whereas it can wealth actually be associated with like somebody unlike Brixton Hill, you know what I mean?
• 20:00
  SPEAKER_03: Because technically it can, but I'm like in mindset-wise, would it initially?
• 20:05
  SPEAKER_06: Yeah, I think I can make the connection.
• 20:08
  SPEAKER_06: Um, thanks for the challenge.
• 20:09
  SPEAKER_06: That's okay.
• 20:10
  SPEAKER_06: And um I can think of it in quite a few different ways.
• 20:15
  SPEAKER_06: The first is we, it's the person in Brixton Hill, will have to contend with the facts, and it's how quickly they contend with that fact, is that one day they will need some assets to be able to manage themselves when they're no longer seen as having the skills or having the ability or the the wherewithal to be employable.
• 20:43
  SPEAKER_06: And there are assets out there that they should have been building up or have been built up for them through their working life, and that thing is um state pension.
• 20:53
  SPEAKER_06: Oh okay.
• 20:55
  SPEAKER_06: So even for somebody who doesn't who's disconnected from what wealth might be in their minds, they might associate it with wealth.
• 21:06
  SPEAKER_06: Actually, with things like their state pension, that is something that can connect, that that that is still an asset.
• 21:15
  SPEAKER_03: I've never thought of pension being an asset before.
• 21:19
  SPEAKER_03: Thank you.
• 21:21
  SPEAKER_06: Sorry, Karian, it was just a new moment for me.
• 21:25
  SPEAKER_06: And that asset has a value, it's it's a weekly or monthly payment that's made to them from the age of depending on what their age is age is, all right, because it depends um when they will receive that state pension, right?
• 21:43
  SPEAKER_06: So um that is an asset that they need to be thinking about and where it's going to be allocated over time, right?
• 21:53
  SPEAKER_06: So there's that, but even to qualify for state pension, they've got to be doing the they've got to be actually.
• 22:00
  SPEAKER_06: Actually, knowing what are the criteria to qualify for it.
• 22:04
  SPEAKER_06: Okay, so they got to know actually what is my working record.
• 22:08
  SPEAKER_06: If I've only worked, say, for instance, for 12 years of say 20, they might not qualify for the state pension.
• 22:18
  SPEAKER_06: You've got to be working for a certain amount of time.
• 22:22
  SPEAKER_06: These are the things that they still need to understand what the criteria is for you to even qualify for the state pension.
• 22:30
  SPEAKER_06: Yeah.
• 22:30
  SPEAKER_06: Right.
• 22:31
  SPEAKER_06: It's not just a give a gimme.
• 22:33
  SPEAKER_06: Like you've got to actually do the work yourself.
• 22:36
  SPEAKER_06: Go onto the HMRC website, look at your records, and it will state, and it's free for everybody to look at how many years they've been working for, what money do they have available in the bank account to fill in those years, to fill the gaps so that it's topped up, or how many years will they have to continue working to qualify?
• 22:59
  SPEAKER_06: Something as basic as that for every single person, they need to see it is an asset and it's something that is available to them if they've been working, and they've got to understand that that is for them.
• 23:14
  SPEAKER_06: So I think I can connect with people no matter what their sort of where they sit on the scale of wealth.
• 23:21
  SPEAKER_03: Yeah.
• 23:21
  SPEAKER_06: Um, just through that alone.
• 23:24
  SPEAKER_03: Is there anything you can do with your pension?
• 23:26
  SPEAKER_03: Because I know there's things in um like beforehand.
• 23:29
  SPEAKER_03: Can you can you dip in and do things?
• 23:31
  SPEAKER_03: Because I know in America there's things they can do with their, is it a 401k?
• 23:37
  SPEAKER_03: Do we have similar things going on here that you can, as you've just you've just re-relabeled it for me?
• 23:44
  SPEAKER_03: That's a that's that's such a game changer for me right now.
• 23:47
  SPEAKER_03: That asset there, can you do anything with it before your uh pension age?
• 23:52
  SPEAKER_03: Can you tap?
• 23:53
  SPEAKER_06: Can you yeah, you can't tap into your state pension?
• 23:56
  SPEAKER_06: Okay, no, not before retirement age, right?
• 23:59
  SPEAKER_06: So before the age of yeah, unfortunately, before the age of 55, 56, you can't tap into that.
• 24:06
  SPEAKER_06: That's money that's been accumulated, it's been is growing on your for you, which is but actually one thing you have to know about the state pension is that it's a scheme whereby those who are working are paying for those who are about to retire.
• 24:24
  SPEAKER_06: Right, and that's the situation as they go into retirement.
• 24:28
  SPEAKER_06: There are criteria for you to apply to for you to qualify for it, but it's not I've worked a number of years, and so this is a pot of money that is being taken from me, which is held somewhere.
• 24:41
  SPEAKER_06: No, the money that is taken from you with your national insurance contributions is directly going to people who are in retirement now.
• 24:50
  SPEAKER_03: It's not a potential.
• 24:51
  SPEAKER_03: I knew this.
• 24:51
  SPEAKER_03: Sorry, I did know this because people are having a whole beef with the whole fact that people are living longer.
• 24:57
  SPEAKER_03: Can we celebrate that people are living longer, please?
• 25:03
  SPEAKER_03: There's not gonna be any pension for us by the time we're old.
• 25:07
  SPEAKER_03: Fine, do something else then.
• 25:09
  SPEAKER_03: How about that?
• 25:09
  SPEAKER_03: Yeah, you've got time to set off other assets.
• 25:13
  SPEAKER_06: You've been given the time.
• 25:16
  SPEAKER_06: Yeah, people, humans, anyway.
• 25:18
  SPEAKER_06: Um, I think another thing in relation to pensions is really work out your um job history.
• 25:26
  SPEAKER_06: Right.
• 25:27
  SPEAKER_06: From 16 when you were working at McDonald's to today, work out and record how long you were working at an organization and write down whether it was full-time and if they were taken, or if you qualified for a pension that you might not have realized you were actually they had provided for you.
• 25:52
  SPEAKER_06: This is one of the biggest issues that we're finding is that there's people who have a pension for a company that they worked at when they were maybe a teenager or when they were in their early 20s, they just sort of just dismissed it, let that scheme sort of become dormant, but there's money in there for them to actually understand how much it's worth and do something with as well to help it grow towards retirement age as well.
• 26:24
  SPEAKER_06: So that again is something that none of people are thinking about and should be thinking about as well, and that's ordinary people.
• 26:32
  SPEAKER_03: It's so true because I was just literally thinking about like I can imagine there's so many younger people who would just switch stuff right now because pension, pensions for old people, I don't need to think about that and move on with life.
• 26:46
  SPEAKER_03: How do we how do we bring everybody back into the room to be like, no, but it is something you need to think about from now?
• 26:55
  SPEAKER_03: How do you make a pension more so, shall we say?
• 26:59
  SPEAKER_03: Or a bit more appealing, because as you said, it's a reality for everybody, and the most empowered people are the people who are younger who have just started working, or people are in their in their 20s and just getting into their stride.
• 27:12
  SPEAKER_03: Actually, you guys are in the most powerful space to make it really win for you when you are mature, but at the same time, because they're younger.
• 27:21
  SPEAKER_06: Yeah, I know you know it's just a distant thing, right?
• 27:27
  SPEAKER_06: It's something that it will look after itself until it doesn't, yeah.
• 27:32
  SPEAKER_06: Yeah, I invested uh or started investing in a pension and started and I actually the earliest part of my career was in pensions, so I've got a head start.
• 27:43
  SPEAKER_01: Okay.
• 27:43
  SPEAKER_06: Um, so when I first graduated um in 2000, long time ago, I worked for an employee benefits firm and they set up retirement schemes for companies all over the UK.
• 28:00
  SPEAKER_01: Yeah.
• 28:01
  SPEAKER_06: And so I already had an awareness at 24 of retirement and how important it is.
• 28:10
  SPEAKER_06: And it does resonate, I think, to anyone is that if the earlier you start, the less work you have to do later on.
• 28:20
  SPEAKER_06: Even if you were to put, say, maybe 30 to 40 pounds of your money into a pension now, it means that you don't have to be putting in 400, 500 pounds in in your 40s or in your 50s.
• 28:36
  SPEAKER_06: Well, well, I'd say in your 50s, you probably have to be putting a thousands.
• 28:39
  SPEAKER_01: Right.
• 28:40
  SPEAKER_06: And in excess of that, in order to provide the same amount or to bring or build the same pot as somebody who's only did it um who only did 20 to 30 when they were in their 20s, and that's because there's this powerful concept which is called um compound investing.
• 28:58
  SPEAKER_06: Yes, and compound investing is the notion that when you get a income from your investment, you reinvest it, and then when you reinvest it, that in itself produces income, and that income you reinvest.
• 29:16
  SPEAKER_06: And so some basically a snowball uh a snowball effect, a snowball becomes an avalanche, so that by the time you are in your 40s and 50s, you have this enormous thing that's built up because you've never touched that money and you've continued to recycle it and use the interest and the profits, you've recycled it back into the market, into the investment market.
• 29:42
  SPEAKER_06: So if you're getting, say, a return, let's say around seven, eight percent per annum on your investment, investing in stock in the stock market, and you continue reinvesting that income or that that that that profit into the mark into your pension, something that can start with a very modest amount over 20, 30 years can become such a big thing.
• 30:09
  SPEAKER_06: And the beauty of it is as well, is when you get to retirement, um, you don't need to take all the money all in one go.
• 30:17
  SPEAKER_06: You can have a strategy and plan in your retirement, so you only take, say, maybe 20 to um percent of it sliced up over a year, and the 80% or the 70% of it is still accumulating, it's still growing, and you can do it that way, and that's what it's a concept called drawdown.
• 30:38
  SPEAKER_06: So you're drawing down from your pension, but you're not drawing everything down, you're only drawing the smaller percentage of it down, enough for you to sort of live on, yeah, you know, in your retirement.
• 30:49
  SPEAKER_06: Meanwhile, you've got this monster that is still growing in the background.
• 30:54
  SPEAKER_03: I love that.
• 30:55
  SPEAKER_03: That's very valuable advice.
• 30:57
  SPEAKER_03: So this basically is uh the advice that you offer within your services, is all these different things.
• 31:04
  SPEAKER_06: Just to say it's not advice, it's coaching.
• 31:07
  SPEAKER_06: I am a regulated advisor in terms of when I was working for a firm under their permissions.
• 31:13
  SPEAKER_06: Right.
• 31:14
  SPEAKER_06: But as you know, these things are FCA, these things are very expensive.
• 31:20
  SPEAKER_06: Yeah.
• 31:20
  SPEAKER_06: So this is coaching, this is telling people and giving people the benefit of my um knowledge.
• 31:27
  SPEAKER_06: Yeah, but they it's something that we work together to do.
• 31:31
  SPEAKER_06: I can't advise on the products, I can only advise on or recommend or to give guidance on the strategy, but my clients will have to go and do the work themselves.
• 31:42
  SPEAKER_06: But I'm gonna be there to hold their hand while they do it.
• 31:46
  SPEAKER_03: That's fair.
• 31:46
  SPEAKER_03: Yeah, no, but it's very valuable coaching.
• 31:50
  SPEAKER_01: We'll be selective with the words that we use.
• 31:53
  SPEAKER_01: Okay, it's the equivalent of the watching.
• 31:56
  SPEAKER_01: Yeah, I hear you.
• 31:57
  SPEAKER_01: Yeah, yeah, yeah.
• 31:58
  SPEAKER_03: People get the gist in, right?
• 32:00
  SPEAKER_03: So understand what's going on right now.
• 32:03
  SPEAKER_03: Are we financially educated, or do you feel like we're financially sold to as a people?
• 32:11
  SPEAKER_06: I would say the latter much more than the um former.
• 32:16
  SPEAKER_06: The and this goes into the structure of wealth management, and I could just go on about this for ages, but I'll keep it brief.
• 32:26
  SPEAKER_06: Basically, the the the market as exists for financial advice is that you can't an advisor doesn't have enough time really to go into the nuances of understanding the person and uh helping them with the gaps in their knowledge.
• 32:45
  SPEAKER_06: Most of financial advisors will have at the most to give proper advice, they would have to have, I would say, under 200 clients.
• 32:57
  SPEAKER_06: Okay.
• 32:57
  SPEAKER_06: But with 200 clients, you can't give them your time, you can only really see them once a year.
• 33:03
  SPEAKER_06: So most of the advice or the literature or the education can only really happen at the beginning and on an annual basis, and that's not enough.
• 33:13
  SPEAKER_06: Right.
• 33:13
  SPEAKER_06: That's the model of financial advice at this time.
• 33:17
  SPEAKER_06: It basically helps that person, the advisor's there to help them and give them sort of um access to certain tools, but actually the advisor's doing most of the work on their behalf for them.
• 33:35
  SPEAKER_06: It's geared more towards you pay me a fee and I'll do everything for you rather than I'll give you the fishing rod to help you to catch the fish and empower yourself, empower yourself, right?
• 33:48
  SPEAKER_06: They can't do that because they've got 200 clients, right?
• 33:51
  SPEAKER_06: They ain't got enough time.
• 33:52
  SPEAKER_06: Okay, yeah.
• 33:53
  SPEAKER_03: Just I'm still trying to, I'm trying to, yeah.
• 33:56
  SPEAKER_03: I feel like I'm still trying to reel in everyday people into the importance of the service that you're offering.
• 34:05
  SPEAKER_04: Yeah.
• 34:06
  SPEAKER_03: Because I I can still I literally sit here and I just run through different people in terms of if they were hearing this and they were just like like for example, the average person, cost of living's high right now, the struggle's real across the board for all the people.
• 34:21
  SPEAKER_03: Well, nearly all the people, yeah.
• 34:23
  SPEAKER_03: There's a small percentage who are living their best life, but for everyone else, the struggle's real.
• 34:28
  SPEAKER_03: So I'm like, yeah, um, like for example, let's take a segment of the people who are living like paycheck, paycheck to paycheck folk.
• 34:36
  SPEAKER_03: Is there uh a space in terms of what you're doing for those?
• 34:42
  SPEAKER_03: Because I don't want I don't want there to be a disconnecting because we're using things like assets and things like that.
• 34:47
  SPEAKER_03: Yeah, let's keep it real.
• 34:48
  SPEAKER_03: There's a lot of people who don't have assets.
• 34:51
  SPEAKER_03: Some people are literally fighting for their life on a daily basis, especially financially.
• 34:57
  SPEAKER_03: Yeah, is there space for them in terms of what you're doing?
• 35:01
  SPEAKER_03: Because basically, I'm trying to highlight the fact that you are coaching and helping people to do better and have a better understanding of whatever their financial situation is, good, bad, or you know, indifferent.
• 35:19
  SPEAKER_06: Let me bring a scenario ahead for you.
• 35:23
  SPEAKER_06: So it's um say there was a young person who is just set up a bank account, or the parents set up a bank account for them, and somebody from around the way said to them, you know what?
• 35:44
  SPEAKER_06: You might be able to help me and you can make some money from it as well.
• 35:48
  SPEAKER_06: And the young person would be thinking, hmm, really?
• 35:51
  SPEAKER_06: How?
• 35:53
  SPEAKER_06: He said, You got a bank account?
• 35:54
  SPEAKER_06: I said, Yeah, yeah, I do, yeah, yeah, yeah.
• 35:57
  SPEAKER_06: How does that help you?
• 35:58
  SPEAKER_06: Well, I can put money into your bank account, yeah, and you hold it in that account.
• 36:06
  SPEAKER_06: I can do things in that account on if you let me, I'll then transfer the money out to wherever.
• 36:15
  SPEAKER_06: And for that, for that, I'll let you have um 10% of the money that was in there.
• 36:23
  SPEAKER_06: So say for instance, uh that person who ran away gave put a thousand pounds into their account, and then six months later withdraws 90% of it.
• 36:36
  SPEAKER_06: So they've basically earned£100.
• 36:39
  SPEAKER_06: Yeah.
• 36:39
  SPEAKER_06: They've hadn't had to do anything.
• 36:41
  SPEAKER_06: This is real.
• 36:42
  SPEAKER_06: Okay.
• 36:43
  SPEAKER_06: Yeah.
• 36:44
  SPEAKER_06: So that person, because of financial literacy, doesn't know that they are a money meal.
• 36:49
  SPEAKER_06: They don't know that they are somebody who has aided and abetted money laundering.
• 36:55
  SPEAKER_03: I literally just had 419 in my brain.
• 36:58
  SPEAKER_03: That's why I was laughing at.
• 37:02
  SPEAKER_06: Yeah, yeah, yeah.
• 37:05
  SPEAKER_06: So financial literacy captures everything.
• 37:09
  SPEAKER_01: Yeah.
• 37:09
  SPEAKER_06: You're going to be susceptible because you don't know what you don't know.
• 37:14
  SPEAKER_06: And you don't know that there are people that are being used every day because they've got a bank account to help and aid, and they won't might even not know why the money has been put in their money into their account and what the pros sorry, what the proceeds of that money was from.
• 37:32
  SPEAKER_05: Yeah.
• 37:33
  SPEAKER_06: Okay, it could be from drugs, it could be from anything, right?
• 37:37
  SPEAKER_06: Any kind of crime.
• 37:40
  SPEAKER_06: The problem is, of course, there's consequences of this.
• 37:43
  SPEAKER_06: You could have a CFAS marker then put on your bank account as a young person.
• 37:48
  SPEAKER_06: You could be say you're 18, 19, and that marker means that they've frozen your account, but also your your your ability to actually bank is then dictated by this marker on your on on your file, on your credit file.
• 38:07
  SPEAKER_06: It means that you can't you can no longer set up a bank account anywhere.
• 38:13
  SPEAKER_06: And if you can't sell up a bank account, how are you gonna get a job?
• 38:16
  SPEAKER_06: Because they're gonna want to see that you there's money for me, Mr.
• 38:22
  SPEAKER_06: Sort of employer, to put money into your bank account.
• 38:26
  SPEAKER_06: And it takes about six years for this marker in some situations to be removed from your so you could be spending the early part of your life, your 20s, you've made 100 quid, but it's impacted you much more than 100 pounds in terms of your decision making that you're that so this is all about money's and wealth and what I'm talking about, it's all about choices, the choices we make and having the um information in order that we make the right choices.
• 38:56
  SPEAKER_06: And this is comes from teaching people in schools, literature.
• 39:01
  SPEAKER_06: Biggest headache I have is that this is not part of the curriculum.
• 39:05
  SPEAKER_06: Kids are exposing themselves, um, putting them and schools are putting people or churning out people into the real world without any kind of knowledge about finances and financial literature, and the fact that they um have choices, and but those choices, they've got responsibility to make the right ones.
• 39:28
  SPEAKER_06: Right.
• 39:28
  SPEAKER_06: Right.
• 39:28
  SPEAKER_06: And and we've got to give these young people the tools and the strategies to help them make the right decisions and to apply themselves and apply critical thinking when they come across these situations.
• 39:40
  SPEAKER_03: This is it, this is this is the thing we discussed on this podcast, critical thinking.
• 39:44
  SPEAKER_03: It's like it's a thing of the past.
• 39:46
  SPEAKER_03: Like, how do we bring back a critical thinking?
• 39:50
  SPEAKER_03: Anyway, topic for other days.
• 39:53
  SPEAKER_03: What do you feel like we're passing down to the next generation in terms of financial literacy?
• 39:59
  SPEAKER_03: Or is anything being passed out?
• 40:01
  SPEAKER_03: Well, things are being passed down a bit.
• 40:02
  SPEAKER_03: Bad habits, yeah, I guess.
• 40:04
  SPEAKER_06: Look, there's many, there's many things you get told as a young person, and it's all been handed down from us from from what we think is youthful.
• 40:12
  SPEAKER_06: Right.
• 40:12
  SPEAKER_06: When I was younger, I was told by my by parents, like um little phrases like money doesn't grow on trees.
• 40:20
  SPEAKER_06: Right.
• 40:21
  SPEAKER_06: So these are little phrases that we all have that our parents pass down to us, right?
• 40:26
  SPEAKER_06: Letting us know that you have to work for what you earn, but also to value, to really put a value on the work that you have and the money that you save as a consequence of of the work that you put in, but to value that, not to to to to sort of just look at it and dismiss it.
• 40:46
  SPEAKER_06: I think some of these little things, these little tips, little phrases that have come down to us um are very, very useful.
• 40:55
  SPEAKER_06: But but the real literature that really moves things aren't taught to our us.
• 41:03
  SPEAKER_06: Right.
• 41:03
  SPEAKER_06: I wasn't taught it.
• 41:04
  SPEAKER_06: I wasn't taught it at all.
• 41:06
  SPEAKER_06: And it's not just down to schools, it's down to us as a community to ensure that um some of the things that we the mistakes that we've made can be handed down to others.
• 41:19
  SPEAKER_06: So I think as a community, there is a responsibility as well as financial literature in school that can help help our young people.
• 41:28
  SPEAKER_06: Working with wealthy people, what they teach their kids is for instance the power of compounding investing.
• 41:36
  SPEAKER_06: Right, right.
• 41:37
  SPEAKER_06: It is the power of investing in yourself.
• 41:41
  SPEAKER_06: One of the most powerful things, one of the most powerful investments you can ever make.
• 41:45
  SPEAKER_06: 100% is in yourself.
• 41:47
  SPEAKER_03: Absolutely.
• 41:48
  SPEAKER_06: Your education, yeah, your knowledge, and that this sh this should be, and it's another powerful thing that this is a lifelong thing.
• 41:55
  SPEAKER_06: This isn't something that ends at 18.
• 41:56
  SPEAKER_03: Right.
• 41:57
  SPEAKER_03: Yeah, no, it's true.
• 41:59
  SPEAKER_06: It's lifelong.
• 42:00
  SPEAKER_03: Yeah.
• 42:00
  SPEAKER_06: You should always be building knowledge, building um skills, skills, you get paid for skills, and always be look looking about how skillful you can be and how useful you can be.
• 42:13
  SPEAKER_06: Asking what are the problems of the world, what skills do you have to help those problems, and you'll get paid for answering those problems.
• 42:22
  SPEAKER_03: There's so many people who just bury their heads in the sand though, when it comes to these things, because everything you're saying is so valuable, and I'm like, I just need somebody to write a book on it, and then I'm like, no, there's actually thousands of books on this.
• 42:35
  SPEAKER_03: Um, I'm like, because I'm trying, I'm still I'm still in the space.
• 42:39
  SPEAKER_03: I'm like, how just relating to the everyday people?
• 42:42
  SPEAKER_03: Because I'm sitting, I'm just running through everyday people.
• 42:44
  SPEAKER_03: Would they hear this?
• 42:44
  SPEAKER_03: What would they receive this?
• 42:46
  SPEAKER_03: And so many people, I'm like, no, whatever.
• 42:49
  SPEAKER_03: See, I'm like, what is needed, so it's so valuable, and it would change so many people's lives, but at the same time, as they say, you you can only bring the horse to the water, you can't make it drink, you know.
• 43:02
  SPEAKER_03: Um, because I'm like, and then and then I was thinking, you know, because we're more in a video age, people need to watch something.
• 43:08
  SPEAKER_03: I'm like, there's people doing this all the time, I like that like earn your leisure, EYL, for example, they're doing it, and and you know, Wall Street traffic and blah blah blah, the list goes on.
• 43:17
  SPEAKER_03: I'm I think I just need to let go because I'm just like, do something, yeah, change.
• 43:24
  SPEAKER_03: Um, but yeah, I guess everyone does everything on their own time.
• 43:29
  SPEAKER_03: Yeah, I know it's frustrating.
• 43:31
  SPEAKER_03: It is frustrating.
• 43:32
  SPEAKER_03: Because you know, when you see there's a problem, you see there's an answer, you see the people whinging about the problem, you can give them the answer, and then there's a gap.
• 43:43
  SPEAKER_06: Yeah.
• 43:44
  SPEAKER_06: Well, like gap is um somebody who holds is holding them to account.
• 43:49
  SPEAKER_01: Yeah.
• 43:50
  SPEAKER_06: I mean, that's what I do in my coaching.
• 43:52
  SPEAKER_06: It's moving something from passive to active.
• 43:55
  SPEAKER_03: Yeah.
• 43:55
  SPEAKER_06: Like passive is uh yeah, I've done all the reading, I've done, I've gone on to AR.
• 44:00
  SPEAKER_06: It's given me all the answers and you feel good about it.
• 44:05
  SPEAKER_06: But what happens next is other distractions come along, all that information that you've drawn from whatever source it was, call it what you want, AI on the internet, podcast, books.
• 44:19
  SPEAKER_06: Who's there to help you sort of just to say, okay, you've read all of that, now what?
• 44:24
  SPEAKER_06: And how what's the plan?
• 44:26
  SPEAKER_06: You know, and what did you think about this?
• 44:29
  SPEAKER_06: When you did your prompting, did you ask this?
• 44:33
  SPEAKER_06: And so I think the planning stage and the aim and the goal and knowing who you are as a person is also very important.
• 44:42
  SPEAKER_06: And I think you need somebody sometimes, you need to shop up to help you.
• 44:46
  SPEAKER_06: It can be quite a lonely job doing it by yourself, and a problem shared is a problem halved, and what moves the needle, I would say, say on driving, what sort of moves the needle in terms of speed, in terms of getting to where you need to, is actually acknowledging that this can't be a passive thing.
• 45:07
  SPEAKER_06: And I'm kind of what I try to do is hold people to account.
• 45:12
  SPEAKER_06: It's like, okay, we talked last month about X, Y, and Z.
• 45:15
  SPEAKER_06: Now we've got our next meetup, our next meeting, our next appointments here.
• 45:21
  SPEAKER_06: Let's look at what you did over the last month.
• 45:23
  SPEAKER_03: People need that.
• 45:24
  SPEAKER_03: Yeah, I see you.
• 45:25
  SPEAKER_06: And that's what moves it.
• 45:27
  SPEAKER_03: Yeah.
• 45:28
  SPEAKER_06: You're going beyond just reading.
• 45:30
  SPEAKER_03: Yeah, you have to hold people's hand basically.
• 45:32
  SPEAKER_03: Yeah.
• 45:33
  SPEAKER_03: And it's tricky because it's like also like um I had a conversation one of my previous episodes when I was in Atlanta with a is a CPA, so yeah, similar.
• 45:44
  SPEAKER_03: Yeah.
• 45:45
  SPEAKER_03: And I said to him, um, his name's Albert Butler, shout out to Albert.
• 45:49
  SPEAKER_03: Episodes, I don't know, go back.
• 45:52
  SPEAKER_03: Um, it a big issue that we have is embarrassment as well.
• 45:58
  SPEAKER_03: Okay.
• 45:58
  SPEAKER_03: Finances is is real tricky and it's psychological.
• 46:03
  SPEAKER_03: It's really psychological, and you know, the that's a big jump in itself, is to kind of get to just get past embarrassment to a space of acceptance, and then action can come from the acceptance.
• 46:16
  SPEAKER_03: It's it's that as well.
• 46:17
  SPEAKER_03: So I said to say, in terms of how you help people, I guess that's part of what you do as well, it's helping people to get from that space because as I as I kind of mentioned earlier, there's so many people who they do the ostrich thing, they just bury your head in the sand and just hope it goes away, whereas it ain't going away for because it's just that you've got your head in the sand.
• 46:38
  SPEAKER_03: It's it's just really difficult.
• 46:40
  SPEAKER_03: And I I'm just like, I guess it's people like yourself because as you said, you're holding people's hands, you're helping people to be like, it's safe to take your head out of the sand.
• 46:49
  SPEAKER_03: Yeah, let's I don't know what your process is, but this is just me.
• 46:54
  SPEAKER_03: Put it all on the table.
• 46:55
  SPEAKER_03: Just just let's just lay out and hold that space.
• 46:59
  SPEAKER_03: Yeah, let's feel the feels, yeah, have it all written down.
• 47:02
  SPEAKER_03: We see your mess now.
• 47:03
  SPEAKER_03: You not only can you see your mess, I can see your mess, and I'm a safe person to hold your hands so that let's let's take our time, or maybe not take too much time, and let's start cleaning up the mess together, yes, is what I'm reading from.
• 47:19
  SPEAKER_03: Absolutely.
• 47:21
  SPEAKER_03: Okay, I just I'm gonna bring it back down to layman's terms for the people.
• 47:26
  SPEAKER_03: Yeah, okay.
• 47:28
  SPEAKER_06: Wonderful, good.
• 47:29
  SPEAKER_06: Yeah, this thing goes deep.
• 47:31
  SPEAKER_06: Yeah.
• 47:32
  SPEAKER_06: I I put it in, I've got a framework.
• 47:34
  SPEAKER_06: Um, it's a free sort of um factor framework, which I I put in place before um I um even think about what are your aims and goals.
• 47:47
  SPEAKER_06: And that free factor framework looks it's a basically a questionnaire.
• 47:52
  SPEAKER_06: It looks at um your history, so your basically your background in terms of how you grew up.
• 48:00
  SPEAKER_03: That's valuable, very good.
• 48:01
  SPEAKER_06: Yeah, how you grew up has a massive impact because it's your initial programming, yeah, yeah.
• 48:06
  SPEAKER_06: Um, it's looking at um the media and how you respond to the media, how you respond to noise, yeah, yeah, yeah.
• 48:14
  SPEAKER_06: And then it looks um uh primarily at um the kind of social sort of factors as well.
• 48:25
  SPEAKER_06: Yeah, yeah.
• 48:25
  SPEAKER_06: So it's media, social, and your history or background.
• 48:29
  SPEAKER_06: These are the three things that I think for me in my own framework helps.
• 48:33
  SPEAKER_06: Somebody completes it, it's like a 30 question um framework which really gets into who that person is or gets as close as I can, or that person feels comfortable, yeah, understanding what are the biases that they didn't even know they had because they've never been asked it.
• 48:53
  SPEAKER_06: Right.
• 48:54
  SPEAKER_06: So it asked questions like when you were younger at school and you couldn't afford to have um like the sweets and the chocolates, whereas your friends did, how did that make you feel?
• 49:13
  SPEAKER_06: Okay, or it could be when at Christmas time, how did Christmas feel for you?
• 49:19
  SPEAKER_06: Did it feel abundant?
• 49:21
  SPEAKER_06: Did it feel a distressing time in terms of lack, wanting?
• 49:26
  SPEAKER_06: Right.
• 49:26
  SPEAKER_06: So it goes quite deep into your kind of the family background, right?
• 49:30
  SPEAKER_06: Your family history.
• 49:32
  SPEAKER_06: Did you get lots of presents?
• 49:34
  SPEAKER_06: Then it goes as social factors.
• 49:37
  SPEAKER_06: So when you're at work and there's another whip round, an endless rip round, right, in terms of um somebody's birthday or somebody leaving or etc.
• 49:49
  SPEAKER_06: Right.
• 49:50
  SPEAKER_06: And somebody arranges it, there's always one person who wants to be the mass kind of like organizer.
• 49:57
  SPEAKER_06: Yeah.
• 49:57
  SPEAKER_06: When it's like the third time in the this week that there's another kind of collection for somebody, whether they're getting married, whether they have the child, or whether they're about somebody's um going into retirement.
• 50:09
  SPEAKER_06: When you get that third one, how do you feel?
• 50:11
  SPEAKER_06: Do you feel grateful?
• 50:13
  SPEAKER_06: Do you feel not again cynical?
• 50:16
  SPEAKER_06: So those are some of the kind of social.
• 50:18
  SPEAKER_06: So I'm I I get to this to the sense of how do you feel, how do you react when you get um these when you're in these types of issues?
• 50:28
  SPEAKER_01: I need to do this questionnaire.
• 50:29
  SPEAKER_01: I'm intrigued.
• 50:32
  SPEAKER_03: I need to when you're just describing that about the emotions, about the emotions.
• 50:38
  SPEAKER_03: I was like, yeah, when the cards come around, they're like, listen, I'll just sign the card.
• 50:43
  SPEAKER_03: Don't ask me for no money, yeah.
• 50:45
  SPEAKER_06: Exactly.
• 50:46
  SPEAKER_03: Yeah, yeah.
• 50:48
  SPEAKER_06: And then it and then an example of the media influence is like when you're when you watch a program, say, like we're kind of like round about the same age, when you watch a program like location, location, location, does that make you feel that owning a property is beyond you?
• 51:07
  SPEAKER_06: Or do you feel that actually this is something that resonates with you and is on your immediate kind of radar?
• 51:14
  SPEAKER_06: Or is this something that's so far away from you that is so aspirational?
• 51:18
  SPEAKER_06: But actually, uh, maybe one day, uh and how do you react to it?
• 51:23
  SPEAKER_06: Really, right?
• 51:24
  SPEAKER_06: Um, but also social is things like Grand National Day.
• 51:29
  SPEAKER_06: How much do you put down?
• 51:30
  SPEAKER_06: Do you feel compelled to involve yourself in you know with these things?
• 51:35
  SPEAKER_06: Yeah.
• 51:36
  SPEAKER_06: Um, so the cultural influences that permeate in our country when it comes to things like um television programs and and and big national events, do you get involved in it or not?
• 51:48
  SPEAKER_06: Yeah.
• 51:49
  SPEAKER_06: Is there something that sings to your heart that compels you to get involved in it, or is it something that you think, well, no, I can't even get involved in it.
• 51:58
  SPEAKER_06: I would like to, but I can't afford to.
• 52:00
  SPEAKER_03: Right, right, right.
• 52:01
  SPEAKER_03: Okay.
• 52:01
  SPEAKER_06: Right.
• 52:02
  SPEAKER_06: Um, so yeah, it's it's it.
• 52:04
  SPEAKER_06: I do that for work, I think it's important, and then once we got the answers, we have a nice long conversation and we really go deep and we try and find out what is your makeup, why are you the way you are, and therefore it's for that person to then realise who they are as a person and whether um they want to um apply what I've got to help them to go the next step so that they can not get in their own way, I suppose.
• 52:38
  SPEAKER_03: Right.
• 52:38
  SPEAKER_03: There's a the I'm feeling a level of therapy in that, what you're doing, because I know exactly as much as you're doing the practical things, as I've just described earlier, in terms of the the somewhat mental pressure that's associated with these things, as well as emotional, etc.
• 52:56
  SPEAKER_03: I can definitely see how freeing and how how healing what you do can be because it's nice to have somebody hold your hand with whatever the things are in life.
• 53:07
  SPEAKER_03: It's nice to have help, you know, and to be in a space where you feel safe to receive that help.
• 53:13
  SPEAKER_03: So I've just I just I just felt yeah, I just felt the the advantage of that on a on a spiritual level.
• 53:20
  SPEAKER_06: Yeah, no, um I just don't I I I designed it because I just didn't I I'd been involved in investing for a long time.
• 53:30
  SPEAKER_06: And there's a certain concepts that have grown out of the academic studies about behavioral investing.
• 53:36
  SPEAKER_06: Yeah, some of those aspects looks at why do people have something called loss aversion, which is um they think more about a loss than a gain.
• 53:49
  SPEAKER_06: Like they it will it would they will be it will be remonstrating in their mind, they'll be ruminating again and again and again over a loss, whereas a gain is a quick rush, a quick high, and then it's on to the next investment that it might be a day of elation, but then it's back to the day job, it's back to the the to the matter at hand.
• 54:11
  SPEAKER_06: Whereas a loss can last with you for weeks, months.
• 54:15
  SPEAKER_06: This is some of the academic studies that have been found in relation to how we are wired when we're talking about behavioural investing.
• 54:24
  SPEAKER_06: Yeah, and so that inspired me to look more into behavioural investing and apply it to my coaching, really, which is I want to know what makes people think and tick, and something that I'm quite fascinated by already uh all um already.
• 54:41
  SPEAKER_06: Also born out of this, is that um my fiance is a um psychotherapist, a trained psychotherapist.
• 54:49
  SPEAKER_06: Nice, so you know, she's been working on me for the last how many years.
• 54:55
  SPEAKER_06: So, again, I just picked up influences from so many different places to apply it and make sure that what I'm doing is much more meaningful.
• 55:04
  SPEAKER_03: Because that that goes across the board, not even just financially, and and like I even see within myself, it's like one thing people keep telling me that I need to um reflect more because I just stay so focused on what I need to do.
• 55:18
  SPEAKER_03: I hardly ever acknowledge the wins, and I so I say I see that across the board just in life period, even beyond um financial situations, but you even see that in like um like for example in relationships, though let's let's let's talk about that when people are um if somebody in the relationship does one thing wrong, destroyed, but yet still the person has a history of doing all the most amazing things, and then you've just got this this ongoing beef of the one thing that they did wrong, you know?
• 55:50
  SPEAKER_03: And it and it gets across the board because even like like say for people who are in the public eye and on um on social media, you can have all the most beautiful comments, and then some one demon pops up with some winning negative.
• 56:05
  SPEAKER_03: Yeah, so yeah, I see it, so I definitely can see how that would also apply and cross over to finances as well.
• 56:12
  SPEAKER_03: Yeah, yeah.
• 56:13
  SPEAKER_03: You know, if money is a tool, what are we actually trying to build?
• 56:17
  SPEAKER_06: What we're trying to build is a solution to a problem, and everyone will be able to, and what I try to do is help people find the mechanisms that are available, the strategies, the strategies as part of the tool to help them get to where they want to get to to meet the aim that they're trying to achieve.
• 56:44
  SPEAKER_06: So the those those aims could are very different, and we talked a little bit about that.
• 56:49
  SPEAKER_06: It could be for a pot of money that will see them through retirement, it could be for that 50th birthday surprise that they want for themselves or for somebody that they know, it could be for um the first property for their child.
• 57:09
  SPEAKER_06: Um, that's a free of hundreds.
• 57:12
  SPEAKER_06: Everyone has their own aims, everyone has their own goals, and you've got to sort of know what is at the end, why the reason why you're doing this.
• 57:22
  SPEAKER_06: And what I try to do is work my way backwards.
• 57:27
  SPEAKER_06: So we know where we are, we know what you want, okay, what you're gonna need to do, how much all you're gonna have to sacrifice in terms of saving, uh, budgeting, um, changing your lifestyle in terms of maybe downgrading from a um sort of Henry Lloyd gym membership down to just like um you know, Joe Bloggs, gym, page you go subscription, you know, service.
• 57:53
  SPEAKER_06: Yeah.
• 57:54
  SPEAKER_06: Um, what are the stages that you have to go through working backwards to get you to your ultimate gain, get um goal, right?
• 58:03
  SPEAKER_06: Your ultimate aim.
• 58:04
  SPEAKER_06: Right.
• 58:05
  SPEAKER_06: And and so this is and this can be quantifiable.
• 58:09
  SPEAKER_06: It can be quantifiable because your we will start to put together um the income that you have and what you spend your money on on a monthly basis, and what um loans do you have?
• 58:28
  SPEAKER_06: Are you doing things like balance transfers?
• 58:32
  SPEAKER_06: Um, are you say maybe using the right bank?
• 58:36
  SPEAKER_06: Are they giving you the services that they you then that you need to enable you to reach this particular goal?
• 58:45
  SPEAKER_06: Okay, so this can be purely cutting out any kind of um investment work um that um I have a specialism in, and looking purely just at your management of your affairs in terms of your budgets and your savings, okay.
• 59:02
  SPEAKER_06: And once you can see it quantifiably in front of you and you're updating it, you then know that there is a monthly, yearly goal that you're setting, and I am there at every milestone, cheering you on, and at the same time trying to find out from you what's happened in your situation, which might have us or need for us to adjust um your your your plan, yeah, your your your the goals that you're trying, so not the goals, but the the the the sacrifices, the the the strategies that we're employing.
• 59:44
  SPEAKER_06: You might have to accelerate it, so you kind of move job and you've got a higher salary.
• 59:51
  SPEAKER_06: We can accelerate it if you want to to achieve it in a much quicker time.
• 59:56
  SPEAKER_06: Um, or it could be that you've had another child, it was an unexpected child, and so again, we would have to adjust it, but you can't stick your head in the sand and say you've got a goal, you can't just um keep to that goal because life is dynamic, things pop out of everywhere.
• 1:00:14
  SPEAKER_06: Yeah, you could be called into a hospital at your doctor's tomorrow, and a kind of x-ray shown to you, which shows a shadow somewhere on you, yeah, and your life situation completely changes, yeah, and therefore we would have to change the plan and what we put forward for you and the strategies that you employ, the sacrifices that you make, and who you access, things like that.
• 1:00:42
  SPEAKER_06: How this relates as well to everyday people's in terms of what risk management are you doing?
• 1:00:48
  SPEAKER_06: And when I talk about risk management, what insurance do you have in place?
• 1:00:52
  SPEAKER_06: Okay, what does your company give you as insurance?
• 1:00:56
  SPEAKER_06: You know, does it give you critical illness?
• 1:00:58
  SPEAKER_06: Does it give you um sort of like uh income um replacement insurance?
• 1:01:04
  SPEAKER_06: Does it give you life insurance?
• 1:01:05
  SPEAKER_06: How many times um of your salary would it give you?
• 1:01:10
  SPEAKER_06: Um, who have you added on to your life insurance?
• 1:01:13
  SPEAKER_06: So things like that as well, you need to that we we will work together in terms of the plan.
• 1:01:19
  SPEAKER_06: It's not just um, I know we talk about wealth, but insurance is an asset.
• 1:01:25
  SPEAKER_06: Yeah, you're building up an asset there as well.
• 1:01:28
  SPEAKER_06: Yeah.
• 1:01:28
  SPEAKER_06: Um, you may not see it go, it's a tiny amount of money, maybe per month, but it is an asset which could be called upon.
• 1:01:36
  SPEAKER_06: Touch wood hopefully it isn't, but it could be called upon at a time when something happens to you.
• 1:01:42
  SPEAKER_06: But do you have the right um policy?
• 1:01:46
  SPEAKER_06: Are the right um conditions in place or is the is the what how what's written in?
• 1:01:53
  SPEAKER_06: Is it is it is it does it really match what what you what your needs are, right?
• 1:01:57
  SPEAKER_06: I suppose.
• 1:01:58
  SPEAKER_06: Right.
• 1:01:58
  SPEAKER_06: Like how long and how long ago has it been updated and could the premium come down?
• 1:02:04
  SPEAKER_06: You've been kind of just passively paying this, but how do you know that you can't get something a more kind of more that pays out more and you pay less for?
• 1:02:15
  SPEAKER_06: Yeah.
• 1:02:16
  SPEAKER_06: So it's it it goes quite deep in terms of you don't know what you don't know until you talk to somebody who does know and can go deep with you into what do you consider an asset?
• 1:02:28
  SPEAKER_06: What you weren't considering an asset actually is an asset.
• 1:02:32
  SPEAKER_03: There's another thing that just popped into my brain because obviously before we put on the camera, we were talking about um huge families and funerals.
• 1:02:40
  SPEAKER_04: Yeah.
• 1:02:40
  SPEAKER_03: So it just comes into my brain, even probate, things like that, and that planning that needs to be done, we would pray it's done before anybody's dead needs to be planned nonetheless, you know what I mean?
• 1:02:54
  SPEAKER_03: Yes.
• 1:02:55
  SPEAKER_03: So I guess that's encompass everything so the trust that could come up.
• 1:03:00
  SPEAKER_03: Encompass so much.
• 1:03:01
  SPEAKER_03: The madness of probate.
• 1:03:03
  SPEAKER_03: Yeah, that's a whole episode in itself.
• 1:03:06
  SPEAKER_03: Yeah.
• 1:03:07
  SPEAKER_03: Family madness.
• 1:03:09
  SPEAKER_03: Um, yeah, yeah.
• 1:03:11
  SPEAKER_03: So no, I mean it's powerful, no, it's very powerful.
• 1:03:14
  SPEAKER_03: I see the I see so much value.
• 1:03:16
  SPEAKER_03: I'm sitting here because I'm like, there's so many people, you just you think you're ticking along.
• 1:03:21
  SPEAKER_03: You're kind of winging it, really.
• 1:03:23
  SPEAKER_03: So it actually gave me comfort just kind of listening to some of the things you were saying.
• 1:03:27
  SPEAKER_03: Because I was like, it really does feel like just rather than you just winging it, somebody's actually laying it out in front of you, and no, we can we can that's it, we can do this, this, and this, and and guidance, guidance makes such a difference in just all the things of life.
• 1:03:43
  SPEAKER_03: Well, this I've definitely see how this is so needed in everyone's finances, you just need guidance, as you said.
• 1:03:52
  SPEAKER_03: You know the things, tell the people the things basically to help your life and have order.
• 1:03:58
  SPEAKER_06: Everyone's situation is so complicated, yeah.
• 1:04:02
  SPEAKER_06: Yeah, it has to be, yeah, it has to be, and um the demographic situation at the moment where people are living for longer, yeah, uh, means that we need to be thinking about things like care.
• 1:04:17
  SPEAKER_06: Yeah, yeah.
• 1:04:18
  SPEAKER_06: That's a very um sort of uh big issue which has been kicked down the road, but governments, successive governments have ignored this issue.
• 1:04:30
  SPEAKER_06: Right.
• 1:04:30
  SPEAKER_06: We've got this particular situation at the moment where you could have done all the right things in your life, you could have raised um sort of um good kids, built up a nice pension, have your house all paid off, and then at 75, 76, something happens in your life and you have to go into a care home and you haven't put the right structures in place, which means that your assets are part of the contribution you have to make for social care.
• 1:05:04
  SPEAKER_06: So they can come after your house, they can come after your pension in order for you to pay your a thousand pounds a week or whatever nosebleeding figure it is, yeah, to look after your social care.
• 1:05:18
  SPEAKER_06: And you could be doing all of the right things, and yet if you don't know, you don't know.
• 1:05:24
  SPEAKER_06: No one's told you about it.
• 1:05:25
  SPEAKER_03: So true, and it's like that that actually that specific subject has been a huge learning curve in in my family as well, because it's valuable what you just said in terms of care homes and things like that, but even to get more nuanced culturally, especially us as black people, we're not fans of the care home culturally, because we traditionally look after our own.
• 1:05:50
  SPEAKER_03: So I say that to say, still tying into the finances of it, it's then adapting the home to accommodate so they don't have to go to the care home.
• 1:06:00
  SPEAKER_05: Exactly.
• 1:06:01
  SPEAKER_03: Yeah, literally, like we've just had to do a whole conversion on my nan's house to accommodate her in her in her situation.
• 1:06:11
  SPEAKER_03: You know what I mean?
• 1:06:12
  SPEAKER_03: Um, so yeah, we've had uh thankfully my auntie is somebody who will just dive in, but at the same time, she had no choice, you know, because it's her mum, you know.
• 1:06:23
  SPEAKER_03: Um so yeah, valuable conversations, valuable information, very much cannot avoid it.
• 1:06:30
  SPEAKER_03: It's either a case of dealing with it beforehand, yeah, planning beforehand, yes, so it's not when it arrives, you're somewhat ready.
• 1:06:39
  SPEAKER_03: Um, I'm rambling, so yeah, I see the value in it.
• 1:06:43
  SPEAKER_06: The issue we have in this country is, and you talked about the culture, yes, and this is something that we have growing up as a social construct is that we don't like talking about money.
• 1:06:54
  SPEAKER_06: And generationally, like the older generation to the younger, this younger generation, there is different um thoughts and um I guess opinions surrounding money.
• 1:07:08
  SPEAKER_06: It's not something like you talk about, and so how do you bring it up essentially?
• 1:07:14
  SPEAKER_06: Yeah.
• 1:07:14
  SPEAKER_06: Like when you're so they you see that your parents are older and you know that um it's gonna fall on you, like social care will fall on you if something happens, or if they kind of their their uh capacity limits somewhat.
• 1:07:32
  SPEAKER_06: What papers are signed, are going to be signed, should be signed, like power of attorney, things like that.
• 1:07:37
  SPEAKER_06: But that conversation has to happen for those things to be signed off, for those structures to be put in place, for the kind of inheritance tax planning that needs to happen, how much is the house worth?
• 1:07:50
  SPEAKER_06: Seriously, all of that.
• 1:07:51
  SPEAKER_06: That's such a difficult conversation.
• 1:07:54
  SPEAKER_03: They won't have it because as you see, I'm I'm very outspoken human, and so and they I have two parents that I try to have these conversations with.
• 1:08:04
  SPEAKER_03: One was receptive, the other one and changed the subject.
• 1:08:09
  SPEAKER_03: Yeah, so I'm like, there's things that need to be put in place where it makes it more comfortable.
• 1:08:15
  SPEAKER_03: Just adding on to what you're saying, we all need to get to a space where we're more comfortable to have these conversations, and it can be achieved because some things that are difficult to I can that I've spoken to other cultures about that's difficult for them to have, and not even just other cultures, other families, other people.
• 1:08:32
  SPEAKER_03: My I can speak for my own family, we're very outspoken people, it's not just me, it's the rest of them as well.
• 1:08:38
  SPEAKER_03: Yeah, so like specifically, like even the topic of death.
• 1:08:42
  SPEAKER_03: We talk about death so blase, so easy, so comfortable because it's just a fact of life, and I think it also what's contributed to us being so okay with it is that we've just experienced so much.
• 1:08:55
  SPEAKER_03: Yeah, like as I've said on this podcast before, I have literally buried over 30 people who I dearly love and care about.
• 1:09:03
  SPEAKER_03: So we're in a space of we we were kind of on top of the management of that emotionally, mentally, and all the rest of it, which you can see across the board, there's not many people who function like that.
• 1:09:14
  SPEAKER_03: Um, so I said aside, it that's only because we have to talk about it so much.
• 1:09:19
  SPEAKER_03: So I I'm just going to apply that to finances as well.
• 1:09:23
  SPEAKER_03: I think I feel, correct me if I'm wrong, the more that we talk about something that's a difficult subject, you just get more comfortable with it to the point where you just like it's it's a fact of life, it is what it is.
• 1:09:34
  SPEAKER_03: Why were we getting emotional every time?
• 1:09:36
  SPEAKER_03: Just talk about the thing.
• 1:09:38
  SPEAKER_06: Absolutely.
• 1:09:38
  SPEAKER_06: No, you need to talk about it more.
• 1:09:40
  SPEAKER_06: Yeah, it's a difficult subject matter.
• 1:09:43
  SPEAKER_06: What can help sometimes is a mediator.
• 1:09:46
  SPEAKER_03: Yes.
• 1:09:47
  SPEAKER_06: So it's that person in the middle saying, Look, I have no gain in this situation.
• 1:09:55
  SPEAKER_06: What I know is that from my experience on death, X, Y, and Z will fall onto your successes.
• 1:10:06
  SPEAKER_06: And we need to plan so that they're in the right place, that they are put in the right game plan so that things can happen seamlessly.
• 1:10:19
  SPEAKER_06: And culturally, and to talk about it culturally, so that culturally we don't want to talk about it.
• 1:10:26
  SPEAKER_06: And if a younger generation brings it up as a as a topic, it's seen as grasping, maybe, or seen as trying to get something.
• 1:10:37
  SPEAKER_06: It all depends on the family dynamic.
• 1:10:40
  SPEAKER_06: I was about to say that.
• 1:10:41
  SPEAKER_03: Yeah, yeah, yeah.
• 1:10:42
  SPEAKER_03: It's a s it would be a shame if you've already if you if your child's trying to talk to you about these types of things and you automatically think, oh my god, they're gonna try and take me out and get inheritance.
• 1:10:52
  SPEAKER_03: That's sad.
• 1:10:53
  SPEAKER_03: That says a lot about what's going on in your family, I'm afraid, you know, because there are families in the world who would have that conversation and appreciate that.
• 1:11:02
  SPEAKER_03: I'm glad you have interest in this because this is what's going to happen.
• 1:11:06
  SPEAKER_06: Every family is different.
• 1:11:09
  SPEAKER_06: Very much.
• 1:11:10
  SPEAKER_06: Those conversations are helped in those families where there is a lot of mistrust.
• 1:11:16
  SPEAKER_06: Right.
• 1:11:17
  SPEAKER_06: And um, in the worlds that I've come from, there is a lot of mistrust because there's a lot of money at stake.
• 1:11:23
  SPEAKER_06: I find that when there's not that much money, when there isn't millions at stake in terms of what's handed down, um, there is kind of a lot more ease of conversation.
• 1:11:36
  SPEAKER_06: But when somebody's a business owner and a business is worth X amount of money, and then that child already um works in a business, knows the value of it, etc.
• 1:11:47
  SPEAKER_06: Um, but wants to find out what the benefactor, the person who's owns the company, is going to do next.
• 1:11:55
  SPEAKER_06: Are they winding down who are they bringing in as a successor or as to take the reins?
• 1:12:02
  SPEAKER_06: It might not even be the child.
• 1:12:04
  SPEAKER_06: And there is um all of these issues that come up with the families that I've dealt with in the past, right?
• 1:12:13
  SPEAKER_06: Which is eased when there is a mediator in between who says, I've got nothing to gain from this.
• 1:12:21
  SPEAKER_06: All we're trying to do is structure this in the right way so that things happen.
• 1:12:25
  SPEAKER_06: You've got, I know you're somebody who likes to control, but we can help the next generation if you reduce the amount of control that you have and allow the process in terms of discussion to happen for and for understanding to happen.
• 1:12:44
  SPEAKER_01: Right.
• 1:12:45
  SPEAKER_06: And I think a lot of this is a a question of understanding.
• 1:12:48
  SPEAKER_01: Yeah.
• 1:12:49
  SPEAKER_06: Like one person's thinking one way, the other person's thinking another.
• 1:12:54
  SPEAKER_06: And the thing that would actually help is the two understandings to be put on the table for everybody to know where they're coming from, right?
• 1:13:01
  SPEAKER_06: And for everybody to understand why one person's wrong or why one person's right, and to come to a happy medium.
• 1:13:07
  SPEAKER_03: Right.
• 1:13:08
  SPEAKER_03: So many things to discuss.
• 1:13:09
  SPEAKER_03: Well, um, yeah, there is.
• 1:13:11
  SPEAKER_03: You've got a very valuable service, and um, I thank you for that.
• 1:13:15
  SPEAKER_03: I appreciate you for that.
• 1:13:16
  SPEAKER_03: It's it's needed, and um, yeah, I need that.
• 1:13:18
  SPEAKER_01: Um, I need that that test breakdown, that learning I need to know.
• 1:13:24
  SPEAKER_06: We'll get that for you.
• 1:13:26
  SPEAKER_03: Oh, Chris, do you have any lasting thoughts you'd like to share with the people?
• 1:13:30
  SPEAKER_06: First thought is that investing and looking after your financial fares is not for the elite.
• 1:13:37
  SPEAKER_06: It's not for those who have like two houses and a big bank account and lots of shares, and someone who reads the Financial Times every day uh and has a postcode in Mayfair.
• 1:13:53
  SPEAKER_06: It's and hopefully what we've discussed today is that it permeates down your financial affairs, permeates down to everybody.
• 1:14:03
  SPEAKER_06: It permeates to those in why they think the way they do, what this was the background why into why they think on why they behave the way they do.
• 1:14:14
  SPEAKER_06: It permeates into the kids and not being um made or not allowing yourself to be put into a situation where um you dep jeopardize your future as a young person.
• 1:14:29
  SPEAKER_06: So financial literature and financial literacy is so important for everybody, yes, and to uh to be even to be able to spot it when you see some other somebody else it could be happening to, or somebody else who could be a target.
• 1:14:45
  SPEAKER_05: Yeah, 100%.
• 1:14:47
  SPEAKER_06: But also, it's just that the lasting thing I would say is that um it's just something that we need to be talking about a lot more, definitely, yeah, definitely.
• 1:14:55
  SPEAKER_03: Yeah, and I'm I'm making my little contribution by bringing people like yourself on here, so it's needed, and I think that would be the paradigm shift that we definitely need in society.
• 1:15:06
  SPEAKER_03: Yeah, yeah.
• 1:15:06
  SPEAKER_06: Um where can everyone find you?
• 1:15:09
  SPEAKER_06: So my website is called uh manresaschool.co.uk.
• 1:15:16
  SPEAKER_06: So that's www.manresaschool.co.uk.
• 1:15:22
  SPEAKER_06: You just go on to that website, and then there's a few links on there.
• 1:15:26
  SPEAKER_06: There's a contact link, and you fill in the form.
• 1:15:30
  SPEAKER_06: And once you fill that form in, I will receive an email and we can have a free chat.
• 1:15:35
  SPEAKER_06: I can we'll do the tool together, and we'll chat about the tool, and then um we can construct your aims and your goals, and we can take it from there.
• 1:15:44
  SPEAKER_03: Amazing, wonderful.
• 1:15:45
  SPEAKER_03: Thank you so much for coming.
• 1:15:47
  SPEAKER_06: No, it's a pleasure, Lucia.
• 1:15:48
  SPEAKER_03: Thank you.
• 1:15:49
  SPEAKER_03: Thank you.
• 1:15:50
  SPEAKER_03: And another wonderful and very valuable episode.
• 1:15:55
  SPEAKER_03: Um, Chris is providing a very valuable service that a lot of us need, whether you like it or not, a lot of us need it, and we need somebody to uh just guide and um help us with uh our life, you know.
• 1:16:11
  SPEAKER_03: As much as we um we try to have the message of this love makes the world go around, it does, but um, we're no longer in the days of bartering, so money makes the world go around as well, whether you like it or not.
• 1:16:24
  SPEAKER_03: Um, it's a tool.
• 1:16:26
  SPEAKER_03: Um, I'm not saying it's it's the be all and end all and rules all things, but it's very much a valuable tool that a lot of us use.
• 1:16:33
  SPEAKER_03: Um, you know, even people off the grid use it whether they like it or not.
• 1:16:37
  SPEAKER_03: So I said that's a sad.
• 1:16:38
  SPEAKER_03: Get in the comments, talk to me, talk to Chris, subscribe, like, share, share this with so many more people.
• 1:16:48
  SPEAKER_03: Um, as I said, this is such a valuable service and it's the shift that we need, and it's also coming together, it's the unity.
• 1:16:55
  SPEAKER_03: And if there's people out here who are creating these services to help us, we definitely need to utilize them.
• 1:17:02
  SPEAKER_03: So, as usual, say this.