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We specialise in breaking down complex economic data and market movements that matter most to investors in the United States, Canada, the UK, Europe, and Australia. Whether you’re interested in US stock market trends, UK ISA and pension planning, or the latest European financial policy, GeoPulse delivers concise, actionable insights.
From short-form daily market summaries to in-depth analysis of wealth management and personal finance strategies, we help you stay ahead of the curve. Tune in for expert commentary, practical investment tips, and deep dives into high-value assets.
Categories Covered: #Finance #Investing #WealthManagement #FinancialNews #USmarkets #UKstocks #EuropeanMarkets #AusFinance, #dailymotion, #GeoPulse, #FeelThePulse, #viral, #trending, #mustwatch, #viralvideo, #trendingnow, #now, #finance, #Investing, #Money, #Business, #FinancialNews, #PersonalFinanceUS, #UKStocks, #CanadianInvesting, #AusFinance, #EuropeanMarkets, #WealthManagement, #FinTech, #Cryptocurrency, #USmarkets, #UKstocks, #personalfinance, #wealth, #business
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00:00There are lots of ways to provide for your retirement cash flow needs, and which choices you make depends on some factors which, when combined, make up your unique outlook on this subject.
00:14In fact, I think there are five factors which apply to all of us, but to different degrees.
00:19And so my question to you is this, how would you score yourself for each of these five factors? Let's take a look.
00:26Hi, and welcome back to the channel. My name is Pete Matthew, and I'm a chartered financial planner based here in the UK.
00:31Now, the definition of a successful retirement is obviously different for each of us, but I think we can all agree on two things.
00:38Firstly, we don't want to run out of money before we die, but we do want to enjoy life to the full.
00:44And secondly, we don't want to be stressed out and anxious about money in our old age.
00:48And the decisions we make when we're setting up our retirement plans will determine the outcome on both of those points.
00:55So let's get into the factors.
00:57The first foundational factor is your need or desire for guarantees.
01:03Are you the kind of person who needs to know that there's a guaranteed useful amount of money coming in each month for the rest of your life?
01:10Or are you happy to wing it while knowing that you might run out of money potentially?
01:15Your need for guarantees will be influenced by any income sources that you've already got.
01:20So most of us will have the state pension.
01:22And yes, I think that it will still be there in some form for the foreseeable future, even if it might change form.
01:28Maybe you've got DB pension benefits from your employer or an old employment from years back.
01:34Do these income sources cover your necessary expenses?
01:38That's the minimum amount you need to spend each month to live.
01:41If not, what is the gap between your guaranteed income and that minimum spending level?
01:48What is the difference between your minimum standard of living and your ideal desired standard of living?
01:54Maybe you can guarantee the minimum and the rest of your pot can fund the ideal.
02:00So let's try and come up with a score from one to five, with one being that you don't think you need guarantees and five being that you really do want to make sure that your needs are met each month without fail.
02:11Where do you sit on that scale?
02:13Write it down.
02:14The second factor is your ability and willingness to manage investments.
02:18If at one end of the spectrum we've got guaranteed income sources like DB pensions, annuities and the state pension, at the other end we have a finite pot of money which needs to fund your needs for the rest of your life.
02:33And to some degree that pot of money will need investing and managing.
02:37Now you can outsource that by choosing a kind of off-the-shelf, done-for-you investment proposition or use a stockbroker or a discretionary fund manager.
02:45But maybe you like the idea of doing that management yourself.
02:49If you're responsible for the choice of the funds, that's a lot of responsibility on you.
02:54And you're still going to need to keep an eye on things for the rest of your life, even if it's only once or twice a year.
03:00You might need to make changes, or you might need to decide not to do anything, even when circumstances might suggest that you should.
03:06So are you comfortable making and sticking to those kinds of decisions?
03:10Are you new to this or are you experienced?
03:12Have you been hands-on with your pension and your ISA money for decades?
03:17Or are you approaching retirement and are only now starting to understand investing and how it all works?
03:23Give yourself a score for your ability and willingness to manage a portfolio of investments on that scale of one to five.
03:29With one being that you're a novice or unwilling and five being that you can handle it.
03:35No sweat.
03:35Factor number three is your attitude towards an understanding of risk.
03:40Now risk is a big old word, isn't it?
03:42It covers all aspects of our finances, but specifically here, I'm talking about the risk of losing money in your invested portfolio.
03:50Most of us understand that money which is invested goes up and down in value.
03:55But when it does go down, it can trigger all kinds of responses.
03:59Sometimes really physical, visceral responses.
04:032022 was one of those years for many investors.
04:05We've had it so good for so long, and even the shock of the pandemic on markets was pretty quickly recovered from.
04:12But 2022 was difficult because traditionally more cautious asset classes like bonds really suffered.
04:18Now imagine you're in your 70s and you've got this finite pot of money that you're managing and you're relying on for your retirement cash flow needs.
04:27You can't or you don't want to work to add to it, and you're just watching it go down by 20, 25, 30 percent, maybe even more.
04:36How are you feeling?
04:37How much do you understand risk in all its different forms?
04:40Do you understand it on a theoretical level, or have you experienced and weathered market storms before with no issues?
04:47Again, score yourself from one to five, with one being that you're a cautious investor or you've got very little experience and understanding of risk,
04:55and five being that you've experienced market shocks before and held your ground.
04:59While you're thinking about that, and if this is useful so far, please take just two seconds to hit the like button and subscribe to the channel if you're not already.
05:06It really does help. Thank you.
05:07Just two more factors to go, and number four is your desire to leave a legacy for your family.
05:14How big a deal is this for you?
05:16Essentially, this is about not spending everything, but having some left when you die to leave to your beneficiaries or to give to them during your lifetime.
05:25Let's not worry too much about the mechanics of this for now. It's your intention that I'm interested in.
05:29Are you in the mold of, well, I never got anything from my parents, so I don't see why my kids should get anything from me?
05:35Or are you keen to give your kids a leg up, either with gifts while you're alive or after you've gone?
05:41Maybe it's bigger than that. Perhaps you've got a family member who is going to need providing for long after you've gone.
05:46Perhaps they've got special needs of some kind.
05:48Or maybe you just want to give or leave a boatload of money to your favorite charity.
05:52Again, score yourself from one to five, with one being that you want to spend it all and to hell with the kids,
05:58and five being that you would want to provide as much as you can for those left behind.
06:03And finally, let's talk about factor number five, your expectations of longevity.
06:08Of course, none of us know how long we're going to live, but countless times when I've been advising clients,
06:14they will make reference to their family history.
06:17So what's your family story when it comes to longevity?
06:20Is there a history that might suggest a kind of genetic predisposition to living a long time?
06:25Or is the opposite true?
06:26Are you a healthy person or maybe not so much?
06:31You might want to bear in mind that longevity sounds like a good thing,
06:34but it can be expensive with potential care costs and, of course, the need for your investment pot to last longer.
06:41And don't forget that if there's two of you in a relationship, you should think about your longevity together if you can.
06:47How long till the second of you dies?
06:49Again, we'll never know this for sure, but if you had to grade your expectations of longevity on a scale from one to five,
06:55with one being that you expect to die early, and five that you've got a pretty good chance of making it to 100,
07:01where would you put yourself?
07:02So you should now have five scores between one and five.
07:05Four, your need for guarantees, your ability and willingness to manage investments,
07:11your attitude towards an understanding of risk,
07:15your desire to leave a legacy, and your expectations of longevity.
07:20Now I'm going to keep you hanging until next time to kind of bring this together in some way,
07:25but you can be thinking about this before then.
07:27For example, if you expect to live a long time,
07:29you might err towards considering a guaranteed income product of some kind
07:33to reduce the need for an invested portfolio to last.
07:37Food for thought.
07:38Thanks for watching this one.
07:39More coming soon.
07:40So subscribe to the channel if you're not already,
07:42and then you'll be notified when we upload next.
07:45And of course, drop a like for this video if it was useful.
07:47Thank you so much.
07:48I'll see you in the next video.
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