QA42 - Listener Questions, Episode 42
About this episode
Pete Matthew and Roger Weeks answer listener questions on various personal finance topics including saving rates and tax implications.
Pete Matthew and Roger Weeks cover self-employed saving rates, inheritance tax and estate planning, and how dividends are treated inside pension drawdown (including SIPPs). They also discuss salary sacrifice and contribution limits, the pros and cons of recycling tax-free cash, and whether to overpay your mortgage or invest via a Stocks & Shares ISA. Shownotes: https://meaningfulmoney.tv/QA42 01:07 Question 1 Hi Pete and Roger, Thank you for your amazing podcast! My question is about budgeting & savings percentages: Should you aim for a % of your gross pay or your net pay when it comes to aiming for a savings percentage? e.g. Invest 20% of gross or net? I'm self employed and work contract to contract. From each contract payment I have to give 25% to agents and lawyers. Then I get paid the rest and have to put aside some of the money ready for the Tax man. When planning for how much I should save / invest from each contract payment should I be putting aside: 20% of the original contract amount? (which would be prior to the agents taking their cut and prior to the tax man taking his cut?) 20% of the amount left after the agents but prior to the tax man? Or 20% after both the agent…
More episodes of The Meaningful Money Personal Finance Podcast
- QA47 - Listener Questions, Episode 47
- QA46 - Listener Questions, Episode 46
- QA45 - Listener Questions, Episode 45
- Planning for Pensions and IHT
- QA44 - Listener Questions, Episode 44
- QA43 - Listener Questions, Episode 43
Explore listener stats, chart rankings, contacts and more on the The Meaningful Money Personal Finance Podcast podcast page.