The Savvy Wallet with Ato Jay

In this episode we Ian Dempsey, an independent financial advisor with nearly two decades of experience in the financial services industry. He brings a wealth of knowledge garnered from his extensive career, including roles in mortgage advising before venturing into financial advising.

In this episode we discuss:

– The proposed Cash ISA changes

– Overpaying your mortgage vs investing in the stock marker: Pro’s and cons

– How to decide whether you Overpay your mortgage or Invest

– A financial advisor’s view on Global Index Funds and ETF’s

– Is it ever too late to invest in the stock market

– Steps to start investing in the stock market today and more

Connect with Ian:

Instagram: https://www.instagram.com/idthemoneyman

TikTok: https://www.tiktok.com/@idthemoneyman

📩 Sign up to my mailing list to be the first to know about upcoming events:

http://eepurl.com/hJEcLL

🤝 Sponsor

Tide – Earn 3.81% AER Variable on your business savings here:

https://glnk.io/91954/ato8fr

You’ll get a free £100 when you use the code ‘SAVVYWALLETQ1’ and fund the Instant Savings Account with £5,000 within the first 30 days. Ts&C’s apply.

New Tide members receive a 0.77% AER boost on the standard 3.04% AER on unlimited balances until 01/06/25, after that the standard rate applies with no interest earned on balances over £75,000. Rates correct as of 06/02/2025. Terms and conditions apply. Visit tide.co/savings for up to date rates.

🤝Partners

Check out our partners who offer Stocks and Shares ISA and more:

⚡️Trading 212⚡️(The investing platform I use)

Get a FREE fractional share worth up to £100 when you open an ISA or invest account and deposit at least £1, using my link: https://www.trading212.com/join/SAVVY

If you don’t get the free share automatically after depositing £1. Use the code “SAVVY” in the promo code box. You can use this code for up to 10 days after opening the account.

When investing, your capital is at risk. Tax treatment depends on your individual circumstances and regulations which may change. Other fees may apply.

⚡️Hargreaves Lansdown ⚡️

http://hl.7eer.net/B0mz50

Capital at risk

⚡️Interactive Investor ⚡️

https://prf.hn/click/camref:1101l3RTLM/ar:SW

Capital at risk

Some of the links are affiliate links which means that we will receive a small commission if you make a purchase, however there will be no additional charge to you.

TIMESTAMPS

0:00 – Savvy Wallet Ad

0:18 – Preview

1:24 – Intro

1:59 – Meet Financial Advisor, Ian Dempsey

3:17 – Why I became a financial advisor

10:22 – Lessons from being a financial advisor

15:12 – The Buy Now Pay Later Problem

18:28 – Tide Ad

19:44 – How my clients grew their wealth

25:22 – Challenges my clients faced

27:03 – The rumoured Cash ISA changes are a bad idea

31:41 – How to navigate the Cash ISA changes

38:30 – Instead of changing the ISA do this!

42:37 – Overpaying mortgages vs Investing in the stock market: Pro’s and Cons

46:15 – Overpaying mortgages vs Investing: If interest rates go up

48:06 – Why do people overpay their mortgages?

49:52 – How to decide: Overpay your mortgage or Investing 

52:31 – Benefits to invest vs overpaying your mortgage

54:31 – The risks to investing vs overpaying your mortgage 

56:58 – Is it ever too late to invest?

1:01:00 – Building wealth even if you start investing later

1:02:22 – How to catch up with your investments 

1:06:51 – Everyone should do this with their pension accounts 

1:08:51 – Why it’s not the best idea to take on more risk 

1:14:16 – Financial Advisors view on Global Index Funds and ETF’s

1:17:05 – Is there an age where it’s risky to invest in Global Index Fund/ETFs

1:19:41 – Message for you: If you feel it’s too late to invest

1:21:46 – Steps to start investing in the stock market today

1:26:55 – Behavioural science of money 

1:35:21 – Final words

Learn more about your ad choices. Visit megaphone.fm/adchoices