Did you know that people with better levels of financial knowledge enjoy higher investment returns?
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This week in episode 13 of the Informed Choice Podcast, Martin reveals details of a study which proves his catchphrase; “When it comes to money, the more you know, the faster it can grow!”
Martin starts this episode by talking about his recent appearance on BBC Radio 4 Moneybox, where he was interviewed by Sonia Rothwell on the subject of crowdfunding.
Here’s the link to Martin’s appearance on Money Box. Skip forward to 10:40 to hear the segment about crowdfunding and Martin’s comments.
There’s news of Nick’s book launch earlier this week, where invited guests attended a reception at The Richard Onslow in Cranleigh to receive signed copies of How to Take Your Pension Pot.
Martin has been driving around the village this week, logging map coordinates and checking for safe road crossing points ahead of the Cranleigh Parish Boundary Challenge on Sunday 17th May.
He is still reading Antifragile by Nassim Nicholas Taleb and recommends listening to an episode of the Spartan Up! Podcast which features Suzette Clark Slide Hill Ranch, an organic farm in California, who explains why children need more freedom outdoors.
Listener question
There’s a listener question about whether to take the maximum tax-free cash from a pension pot before buying an annuity to secure an income in retirement.
If you have a question for Martin to answer in a future episode, you can leave a voicemail online at icfp.co.uk/podcast, using the SpeakPipe plugin. Just follow the link at the bottom of that page.
Better knowledge = higher returns
The big study discussed in this episode of the podcast is why people with better financial knowledge tend to get higher investment returns.
According to the study, more knowledgeable investors experienced an average return of 9.5% a year versus 8.2% a year for those who had the least financial knowledge.
A question for podcast listeners this week; on a scale of 1 to 10, where 1 represents no knowledge and 10 is financial guru, what’s your number for financial knowledge?
Time & Money
Martin also talks about a sketch from his fellow CFP and author Carl Richards:
Martin commits to setting time aside once a month to review his online banking statement and his calendar, to keep both aspects (time and money) on track.
iTunes reviews
There’s a featured review from Rob Tiffin who had the following to say on iTunes:
“As a fellow financial planner I really enjoy this new financial podcast. Martin is a great host and helps provide clear and concise summaries on often complex issues. It is also brilliant to see someone who is so passionate and clearly enjoys their work. It is obviously that Martin takes great pride in being one of the UK’s leading Independent Financial Planners. Keep up the good work!”
If you listen to the podcast, please take one minute to visit icfp.co.uk/itunes and leave us a review. It’s a big help for promoting the podcast series to a wider audience and making it more visible on iTunes.
Next week
Next week Martin is in London for the Distribution Technology Annual Conference and the Dynamic Planner Financial Planner of the Year Awards, where he has submitted an entry and really, really wants to win!
He is also taking delivery of his shed next week, with plans to convert this into a soundproof and sound treated podcasting studio, hopefully resulting in a big improvement to production quality for the show.
If there is anything you would like to see featured in a future episode of the Informed Choice Podcast, please leave a comment below, email Martin at martin@icfp.co.uk or contact him on Twitter @martinbamford.
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