Episode 9

S1 Ep9 Financial Planning for Key Life Stages - Part 2

In Season 1 Episode 9 of ‘Where Your Treasure Is…’, Simon and Bex continue to look at ways in which financial planning strategies can be applied to key life stages. Generic principles grouped together under the acronym PEPSI (Protection; Emergency Fund; Pension, Savings, Investment) are again used to identify financial needs and priorities at each life stage.

Points of particular significance that are covered in this episode include the following:

  • Having concentrated last time on the first life stage (‘Starting Out’), Simon begins by considering issues associated with ‘Starting a Family’, whether that be establishing a lifelong relationship or having children. [01:29] He highlights the fact that the arrival of children can be a good reason to review matters associated with the principle of protection. [03:09]
  • Understanding tax, budgeting for a surplus, pensions and investing are among the topics covered when commenting on the third life stage, ‘Your First Job’. [04:21]
  • When discussing the fourth life stage, ‘Your First Home’, Simon considers property matters ranging from personal priorities for a home to affordability considerations, including the benefits of adopting a cautious and pragmatic approach to buying a home and moving house. [12:30]
  • Simon suggests that it is worth spending time thinking about protection, pensions, building an effective saving habit and investing during the fifth life stage, ‘Career Progression’. [16:07]
  • When speaking about life stage six, ‘Getting Ready for Retirement’, Simon gives the following tips: (i) get organised and gather together all of the relevant information (ii) check your state pension (iii) make specific plans regarding how you want to spend your retirement (iv) aim to make the financial transition to retirement as smooth as possible (eg by bolstering your pension during the final 5-10 years when you are working). [20:07]
  • Talking about ‘Retirement’ itself, Simon highlights the importance of checking carefully all of your pension and national insurance details, as well as prioritising your health. [23:21]
  • The final life stage, ‘End of Life Planning’, involves not only putting your affairs in order but also simplifying your finances, leaving behind clear information (including a will and power of attorney arrangements) and considering whether you wish to, and are able to, make some financial gifts while you are still alive. [24:55]
  • The episode concludes with an explanation of the two new seasons that will be launched, following a break after the conclusion of season 1. One season will go into greater detail on matters relating to financial planning for each key life stage, with an episode being devoted to each life stage; the other season will focus on practical tasks associated with financial planning, with the aim of making topics accessible and relevant for listeners. The final episode of the current, introductory season will be ‘Investment Strategies’, which will look at some essential points that can assist people to invest wisely. [28:06]
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About the Podcast

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Where Your Treasure Is...
Conversations about faith and finance with Chartered Financial Planner of the Year, Simon Glazier

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About your hosts

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Simon Glazier

Simon is a forty(something), average height, mostly bald, Christian, husband, father of three, bad taste in fashion, movie-loving, not-very-musical-but-likes-to-sing, outdoor type, board-game playing, dancing, acting (would love to get back into amateur dramatics), kind of guy.

He also happens to be a very experienced, qualified and award-winning Financial Planner (and not just any award - the UK Chartered Financial Planner of the Year Award!).

After 20+ years in the finance profession and having worked for one of Aberdeen and the UK’s best financial planning firms (they also won awards...) he started Stewardship Wealth on the 1st April 2018. His goal is to build a business that would delight clients, gather a team of fun to work with people, and raise money for charity, in particular the Church he is a part of. He has committed to giving away at least 10% of all the income of the business to charity, even before he pays himself!

He's been part of a growing Aberdeenshire church for 25+ years, during which time he as acted, sung, played the tambourine (sad, but true), served in and helped lead the children's ministry, helped run several Marriage Courses, Parenting Courses and Money Courses, been a Treasurer and Trustee for over 13 years and has helped lead a small group based bible study for as long as he can remember.

If you’re ever up for a deep and meaningful conversation about faith and finance...or a strategy based board game...then he’s your man.

P.S. He also has a collection of over 60 Monopoly Board Games, owns a Bowler Hat and once represented England in the World Folkdance Festival as a Morris Dancer...!
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Bex Elder

Bex Elder is a freelance translator and writer based in the North East of Scotland. While Bex is by no means a financial expert (unlike her more knowledgeable co-host), her love of a good chat, and sometimes debate, led her into podcasting. Bex splits her working hours between her own business and working a day a week for her local church as the Assistant Youth Pastor. Bex loves running, getting lost in a good book, drinking copious amounts of tea and never says no to a macaron.