MONEY: Who is responsible?

The financial system is NOT rigged against you. It is available for anyone to take advantage of its benefits, to become financially strong. There is no secret sauce, no magic algorithm which only the 1% know and implement to enrich themselves. I believe that anyone can become financially stable, successful and free.

#meaningfulmoney #meaningfulacademy #ukfinancialsystem

If you would like to learn more about these topics, check out the recent videos we have produced, which go into a lot more detail. Here are some to start with:

🏷️ Use PROMO Code "YOUTUBE" to save on any of the three courses.

Chapters:
00:00 Intro
01:11 You don't need maths
01:34 Three things - The system
02:24 Three things - Investing
03:27 Three things: The Human Element
04:19 Outro

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📫 Leave me a comment below - I read all of them and love hearing from you!

[keithhalliday]

Good to hear you going back to the basics. It's easy to forget that some people are only just starting on this journey. It will be a great place for them to start. Thanks for all your hard work in putting these videos together.

[gaurasrspublishing]

Pete, great to see your enthusiasm to help people help themselves - though it strikes me these things are essential life skills that should be taught at school, but i guess in the absence of that, people like you can fill in the gaps and maybe this is the way forward in what I see as a woefully inadequate education system.

[gemmawestall]

Great timing for my husband and I to revisit the basics and align ourselves TOGETHER. Which I think is another important part of the human element. No point working in different ways in the same household. Thanks 🙏🏻

[PrinciplesPersonalFinance]

Great video Pete and an important message. Respect you for tackling the negative sentiments head-on. There will always be those who are convinced 'the system IS stacked against me!'

Only for those who don't engage. Keep up the good fight 🙌

[mxmus]

Yes, Pete. Can’t wait. Thank you sooo much for sharing your knowledge.

[gerryking]

Love the common sense Pete. Not quite as common as it needs to be ❤

[pickashole]

Sure it's open to everyone but is the modern financial system not based on Debt? Learning financial lessons is a top priority and is NOT taught in schools. There in itself lays the problem. Kudos to you for making folk aware though that a big part in becoming financially free is learning about money.

[minimad]

Keep the motivation going for the rest of us Pete, well appreciated I can tell you. Sometimes seems I am going nowhere fast then I see the balances of my investments and by and large, they are holding there own albeit at a snails pace lol.

[jimcurran]

Pete, Fantastic as always. It never does any of us harm to revisit what our plans are. As Stephen Covey of 7 habits fame said sometimes we find we are making great progress only to find we are going down the wrong track. We are all on a journey and i for one applaud all you do. Take a bow Sir👏

[alansingh]

Pete, great video as always. Given interest rates are high at the moment, could you kindly do a video on investing in money market funds? Thank you

[izabelam]

Great video, thank you for all your informative content

[FlyingFun.]

The system stacked against us ... never!
The system definitely favours those in the know with plenty of money and power, but we can definitely get some knowledge ourselves and help ourselves to become better off.
I've lived through plenty of crashes and seen a LOT of people lose their shirts and it scared me off investing so I put my money into the bank and saved up for a second house to rent out, it worked out ok ish in the end BUT looking back if I had invested in the right way I could have done twice as good.
I've sold the house ( too much hastle ) and setting up my investments for a retirement income and to grow,
1 year spending
1 year money market fund
2 to 3 years short term bonds
2 years of 50/50 bond stocks
the rest 100% world index

I'll draw from whatever makes sense each year, aiming to keep the balance at around 60% to 70% index and drawing around 4% of the total with a value that only goes up with inflation and no more and only when stocks go up, if they go down I'll only take the same amount as the year before .
If I was young and starting out I'd just get the emergency fund and then put the rest in world index.

[championsofeurope]

I really enjoy your content and thought about joining the academy several times but surely this is something that should be built in to the education system or free to those who want it and willing to learn it? Ive spend the last few weeks trying to educate myself only to find i am now paralysed with so many choices and what ifs! I looked at a short fixed term (3 years) option today to find out most brokers want 3%, that could be 10K! So if your education system works it may be money well spent.

[supermankelly]

I increased my workplace pension contributions so I was below the 40% tax band, yet my financial advisor seems to lean towards maxing out my ISA. I just don't see how an ISA can beat a immediate 40% return, even despite a possible 20% tax when I retire (I don't expect to go over the £12, 570 personal allowance since I need to live potentially 30 years on a average pension + I have an ISA with the same amount, currently). I'm not the financial expert, but smart enough to know I am missing something with my thinking. I believe you lean towards pensions in past videos, so can I please forward you the email thread so maybe I can get some clarity on why my thinking is different than my advisors?

If you both agree then I'll shut up leave it to the professionals!

[maltesetony]

Read Pete Matthew's book, "Meaningful Money". Clearly written, painless introduction to getting a grip on your finances.

(No, I'm not on some sort of commission - unfortunately!).

[uvscja]

Nice video. I always feel sad when I see young people say that retirement is impossible etc.

[dan]

Fantastic information and you shelled out for a proper superstar presenter, only Harrold Bishop 😬😂

[gerryking]

Pete, I followed your recommendation to read JL Collins book this week (I think it was you, you know how it is on YouTube!)

I’m close to retiring and have been thinking about his recommendation to use a low cost index fund. I’m currently with St James Place, should I think about changing?

[THOMASMARSHALL-wl]

Good to hear some common sense, as usual. Keep it up. But the big institutions do, I think, rig the system against ordinary clients for example by pushing Lifestyle funds that are not always if ever suitable.

[Jeffybonbon]

Rich Dad poor Dad was my life changer I left the place of work at 40 and i have not regretted becoming a Landlord I am 65 and since S24 I have invested in Pensions and ISA i watch all of your vids and you give so much info for free If i have a negitive it surrounds fund managers who make a fortune out of fees and the majority dont beat the market This is where trackers come to the front of my investing world I find investing in funds a boar to be honest but they are what they are THe Tax wrappers are the biggest plus and understanding them takes a bit of time but once understood they can make a difference