Live Smart Financial Planning Ltd

Live Smart Financial Planning Ltd Dedicated to helping you achieve the lifestyle you really want, without fear of running out of money

08/10/2025

In our latest podcast episode, advisors Phil Reynolds and Julian Baker dive into the topic of Pensions vs ISAs exploring which option can offer greater long term benefits.

In this short clip, they discuss an interesting strategy: drawing money from a pension and transferring it into an ISA to improve accessibility and flexibility.

It’s an important conversation for anyone thinking about how to balance tax efficiency with easy access to their savings.

Watch the full episode here: https://www.youtube.com//videos

07/10/2025

Pensions vs ISAs | which is better for your future?

In this clip, our advisors Philip Reynolds and Julian Baker talk about something that’s been getting a lot of attention lately, could pensions soon be hit by Inheritance Tax?

It’s a big question that could have real implications for your retirement and estate planning.

Full episode out now. 🎙️https://www.youtube.com/

06/10/2025

“I wish I started working with a financial advisor earlier.”
It’s something we hear often in our first meetings.

We don’t see many young professionals reaching out for financial advice and that usually comes down to not fully understanding what we actually do or how we can help.

The truth is, the earlier you start working with an advisor, the more we can do together. Your money has more time to grow, your options expand, and the decisions you make today can have a far greater impact on your future.

When you start planning in your 20s or 30s, it’s not about chasing wealth or trying to “get rich.” It’s about creating structure, building good habits, and shaping a lifestyle that feels balanced and fulfilling.

Everyone’s situation is different, but we often meet people later in life who wish they’d started sooner. They’ve worked hard, earned well, but didn’t have a clear plan to make their money work as hard as they did.

Just imagine what we could do if you start now.
More time, more opportunity, and more control over your financial future.

If you’re a young professional and you’ve ever thought, “I’ll sort my finances later” this is your sign not to wait.

03/10/2025

In this short clip from our latest podcast, Phil Reynolds and Julian Baker talk about how trust isn’t built overnight it takes time, consistency, and genuine care.
As a company, we know the Financial Advising profession has faced challenges with perception, and we’re committed to playing our part in rebuilding that trust step by step.
Watch the full episode here: https://www.youtube.com/watch?v=thnciPiAtIk&t=1s

Client case study- relating to fear of running out of money when you stop working...This is one of those cases where you...
02/10/2025

Client case study- relating to fear of running out of money when you stop working...

This is one of those cases where you don't realise your impact until somebody points it out to you. Since we review the client annually and he's a long-term client, we don't need to try as hard - he's already happy. Complacency creeps in often when the client is satisfied, rather than challenging.

But when the client offers some information, it suddenly makes you realise it's costing you. It would have been worth sharing this post with others, and the feeling of satisfaction that comes from knowing we have made an impact on someone else's life.

Here's the impact...

Client retired at age 55- pretty much 10 years ago, as most people, he was concerned he could make his £1m pension pot last. So, where are we today, after the ten to fifteen annual reviews, the occasional risk change when the climate looks shaky or growth-oriented, and the £400k that has been withdrawn and spent mainly on lifestyle?

He's back up to £1.1m in his Pension! As outcomes go, this one made me happy.

Familiar? Need help?

Free information, tips and more case studies...subscribe to our YouTube channel http://www.youtube.com/

02/10/2025

In this short clip from our latest podcast episode, our advisors Phil Reynolds and Julian Baker dive into the tax implications that come with retirement planning. They share what we often see clients miss or misunderstand, and why getting this right can make such a big difference for your financial future.
Catch the full episode here: https://www.youtube.com/watch?v=thnciPiAtIk&t=783s

01/10/2025

In this short clip from our latest podcast, two of our advisors (Phil Reynolds and Julian Baker) talk about the negative reputation surrounding the Financial Advisor profession. They explore why this perception exists and how, as a firm, we're working to challenge it by doing things the right way and showing that ethical advice does exist.
A quick scroll through Facebook financial advice forums makes it clear that there's a lot of distrust out there, and many people are being put off seeking professional advice altogether.
This clip is taken from our full podcast episode, which you can watch here: https://www.youtube.com/watch?v=thnciPiAtIk

30/09/2025

In this podcast snippet, Philip Reynolds and Julian Baker chat through how final salary pensions fit into cash flow modelling and what that means for withdrawal planning.
Final salary schemes can be tricky to factor in, but they’re a key piece of the puzzle when building a retirement plan that actually works.
The podcast is all about retirement pensions and options for withdrawal.
Worth a listen if you’re trying to get your head around the options.
https://www.youtube.com/watch?v=thnciPiAtIk

We recently met with a potentially new client, they explained that retirement was beginning to come into focus and they ...
24/09/2025

We recently met with a potentially new client, they explained that retirement was beginning to come into focus and they were unsure on how to create more wealth for retirement. We discovered they have four properties and multiple pension pots, they were unsure about the best way to use their four properties to fund their future lifestyle. Timing was one of their main concerns. Whether to sell now, hold on for a few more years, or look at alternative strategies that might give them more flexibility.

One of the properties was a commercial property, and the client had heard in some conversations with friends and online that transferring a commercial property into a Self-Invested Personal Pension (SIPP) could be a smart move, but they weren’t clear on how it worked or why it might benefit them.

We walked them through the key advantages. By holding the property within a SIPP, the rental income received would be paid into the pension entirely tax free, helping to grow their retirement pot more efficiently. In addition, any future growth in the value of the property would also be sheltered from capital gains tax. We also explained that the rent paid by their business would still be a deductible business expense, so the arrangement could work well from both sides.

There are, of course, some important considerations such as liquidity, borrowing limits, and pension contribution allowances, but overall it can be a very tax efficient way of using an existing asset to strengthen retirement planning.

The client left the meeting with a much clearer understanding of how a SIPP works, the potential benefits it could offer them, and what the next steps might look like if they decided to explore it further.

If you are in a similar situation and unsure on what to do next, contact us to speak to one of Advisors

23/09/2025

Why Every Business Owner Should Consider Using Their Pension to Own Their Business Premises
At Live Smart Financial Planning, we believe in smart strategies for financial growth. One such strategy is using your pension to buy or own the premises your business operates from. Here’s why it makes sense:
• Commercial Property Ownership: SIPPs (Self-Invested Personal Pensions) or SSAS (Small Self-Administered Schemes) can own commercial premises.
• Rental Income: Your pension scheme can charge your business a commercial rent, which becomes a deductible business expense, reducing taxable profits.
• Tax Efficiency: Rental income goes into the SIPP or SSAS tax-free and doesn’t count towards the Annual Allowance, currently set at £60,000 for 2024/25.
• Capital Gains Exemption: Selling the property within the SIPP or SSAS means no Capital Gains Tax on the increase in value.
• Inheritance Benefits: If you die before 75, the property in the SIPP or SSAS passes to beneficiaries tax-free. After 75, it’s usually exempt from Inheritance Tax, with beneficiaries paying income tax at their marginal rate.
• Tax-Free Lump Sum: You can take 25% of your pension fund tax-free from age 55 (rising to 58 in April 2028).
• Retirement Income: Even after retirement, your SIPP or SSAS can continue to collect rent, providing a steady income- many clients use this as their Pension.
• Borrowing Power: SIPPs can borrow up to 50% of their value to assist in property purchase.
• Collaborative Purchase: Multiple SIPPs can combine to buy a commercial property, or a SIPP/SSAS can partially own a property and receive a corresponding share of the rental income.
Owning your business premises through a SIPP or SSAS is a smart move for any business owner. Interested in learning more? Give us a call or message at Live Smart Financial Planning, and let's discuss how we can help you make the most of your pension.

22/09/2025

Pension chat UK on Facebook…recently been doing some marketing research on chat forums, watching responses, looking at comments, seeing the public effectively giving others free (unregulated) advice, some good, some not so good. There is an overwhelming sense of the damage we have done to public perception (and trust). This profession has destroyed it. Here are some of the key comments, with our alternative take…

You don’t need a Financial adviser- you can do it yourself

True- you can, and it's fine for the investing part- but return is maybe 25-50% of the story- what about serving your intended needs at a given date? What about optimising tax, accountability and understanding how money affects your emotions?

Financial advisers charge too much, and why do they charge percentages when if you have double the money invested, it’s not double the cost to advise?

A really good one- let's be fair to someone who is new to it and who hasn’t seen the value, it’s appears the fees are high, we have regulatory costs, and we have to create auditable files because our advice is regulated and insured, we need a lot of employees, and it uses a lot of time. Fees- we charge flat fees, mostly the profession charges percentage-based fees- making a strong argument valid- and ‘No’ £500k isn’t half as much work as £1m

I have had bad experiences with previous IFAs, and they don’t do much!

There is only one way to avoid this, follow a firm and look at their content on social media, are they independent? Read reviews and look at their video content. If they are giving out free content, then they are publicly showing you what they do, and reviews often consolidate this. Get to know someone first. If you haven’t had advice for 20 years, what is the rush now? Ask to speak to their clients?

Get a good firm, who cares and it’s a game changer!

The Biggest Mistakes People Make When Planning for RetirementOne of the most common mistakes we see is not starting earl...
19/09/2025

The Biggest Mistakes People Make When Planning for Retirement

One of the most common mistakes we see is not starting early enough. Many young professionals delay thinking about retirement because they see it as distant, boring, or something to deal with “later.” Unfortunately, that "later" often arrives with a much smaller pension pot and fewer options than expected.

Another critical misstep is not having a clear, cashflow-modelled financial plan with a defined target income. Without a visual of how your money needs to work over time, it's incredibly difficult to make confident decisions. People often underestimate how much they’ll need or overestimate what their current savings will provide.

We also see people failing to:

-Understand their financial needs at different stages of life
-Plan for sustainability- ensuring their income lasts throughout retirement
-Consolidate old pensions with varying terms, performance, and charges

What’s the solution?
We can help with all of the above and more. Working with a professional financial planner can help bring clarity, control, and confidence to your retirement planning. With the right guidance, it’s never too early (or too late) to start building a secure and enjoyable retirement.

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