124: Saving with Steve with Steve Sexton - Episode 124124: Saving with Steve with Steve Sexton - Episode 124
UK Health Radio Podcast
Host Steve Sexton talks with financial planner Richard McWhorter about retirement readiness, spending, estate and tax planning, and the possible impact of AI on jobs and investments. The conversation also covers how to question advisers and build a money plan that fits individual needs rather than one-size-fits-all products.
44:58•4 Apr 2026
Smart Money Moves for Retirement and an AI-Shaped Future
Episode Overview
- Start retirement planning by understanding your real spending, line by line, rather than focusing only on investment returns.
- Be wary of taking excessive investment risk in retirement, as large losses while withdrawing income can permanently damage your nest egg.
- Use trusts and considered gifting strategies to pass assets efficiently, avoid probate and potentially enjoy seeing family benefit while you’re still alive.
- Tax decisions such as Roth conversions or charitable use of required minimum distributions depend on individual maths and future tax expectations, not hype.
- When working with an adviser, ask "why" for every recommendation and look for someone who gives personalised guidance rather than pushing standard products.
“"Today's the worst it's going to be. So it's just going to get incrementally better over time."”
Ever wondered what it really takes to feel calm and confident about money as you head towards retirement? This UK Health Radio episode of *Saving with Steve* brings together host Steve Sexton and seasoned financial planner Richard McWhorter to tackle that question head‑on. Across a relaxed, conversational chat, Richard shares how he’s spent more than 30 years helping families manage wealth over four and five generations, and why it all starts with something very unglamorous: tracking what you actually spend.
As he puts it, some clients have nine figures yet spend seven figures a month, while others live comfortably on far less simply because they know where their money goes. You’ll hear clear, practical guidance on preparing for retirement in 2026 and beyond: working out your true spending, stress‑testing plans with modest returns instead of rosy forecasts, and understanding how big market falls can wreck a portfolio if you’re drawing income at the wrong time.
Richard uses simple examples to explain why a 50% loss needs a 100% gain to get back to even, and why chasing high returns can be dangerous if you’re relying on that pot for income. The conversation then shifts to later‑life planning: trusts to avoid probate, gifting during your lifetime so you can see loved ones enjoy the help, and thinking about what you really want your money to achieve in your 60s, 70s and 80s.
There’s also a fascinating section on AI, job losses, and how rapid change might affect markets, taxes and everyday lives. Richard finishes with blunt but helpful advice on working with advisers: always ask “why?”, insist on proper explanations, and learn the difference between a true adviser and a product salesperson.
If you’re starting to think seriously about retirement, taxes and how long your money might last, this conversation might be the nudge you need to look at your own numbers and start asking better questions.
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