When you live in volatile and uncertain times, should you put your long-term plans on hold?
Read or watch the news, and you will encounter a world that’s volatile, uncertain, complex and ambiguous. Glance at a stock market’s performance over the course of a few weeks, and what stands out is probably not the general direction of travel, but the short-term seesawing of prices – especially during a volatile period.
Those characteristics can make the task of planning for you and your family’s future feel all the more daunting.
As investors, it can be all too tempting to try to predict the future or react to events as they happen. However, on the one hand, even long-term investors can all too easily respond emotionally to short-term volatility; and make bad decisions as a result. On the other, events are unpredictable at the best of times, and perhaps especially just now. On top of all this, it’s not always easy to sort the facts from the fake news.
The wide range of current challenges make the world highly unpredictable. In the context of saving and investing, the products and services we need to help us are similarly numerous and complex. Do you take the DIY approach to investing, seek guidance, or look for professional financial advice?
Do you know your ISAs from your pensions and unit trusts – and how do you choose? Where should you invest? In public or private markets? In equities, bonds, or property? And should you seek out active managers or passive funds?
The weight, number and nuance of such questions can make us yearn for simpler times – and bury our heads in the sand. Yet that will not help you secure a brighter future for you and your family. In times like these, it’s important to take action and speak with someone you trust.
A professional financial adviser can help guide you through the wealth of options available, to keep your eyes focused on the horizon, and to help you to achieve your long-term financial goals.
If you'd like to discuss this or other financial planning issues, get in contact with Michael Hatton, from BFP Wealth Management call 01787 311611 or visit their website here
BFP Wealth Management Ltd is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website http://www.sjp.co.uk/products. The 'St. James's Place Partnership' and the titles 'Partner' and 'Partner Practice' are marketing terms used to describe St. James's Place representatives.
