Many folk have already failed at “dry January” and even though others may have signed up for new gym memberships and Pilates classes, these might also have the same fate. Nevertheless, we all have to have goals and if we write enough of them down, there is a good chance that some will be achieved. Such is the optimism of the human condition.
There have already been plenty of press articles cleverly explaining to an ever-more confused public, what they should be doing with their finances. As usual these concentrate largely on the products that people ought to buy and ignore the important message that we Planners seek to convey about better planning and organisation and using money to fulfil lifetime ambitions.
And don’t get me started on predictions! Every year the same old nonsense- what will happen in the stock-markets, what will happen to inflation and interest rates and politics and the Royal Family and and.......
So this year to pre-empt the predictions we wrote the following text to our clients:
You will now start to see predictions appearing in the press - some of these will be economic (maybe to do with Brexit,) some of these will be political (again maybe to do with Brexit) and some will be financial (probably with some reference to Brexit!)
Investment managers will guess (sorry we mean predict) what will happen to our money next year and many people will be persuaded to act in accordance with these “predictions.”
At Magenta we will make no such predictions, simply because we don’t know what is going to happen in the world in 2018 - and frankly neither, with any certainty, does anyone else!
What we can say is that we promise that any money we look after, will be invested diversely so as to reduce risk and monitored regularly in line with clients’ personal plans and goals to ensure that we maximise client happiness and security.
We have had some good feedback too, so clearly it is not just me who thinks that trying to predict the future is a fool’s game. Clients like us to be honest about our abilities and capability when it comes to helping them with their financial decisions - I tell them that I smashed my crystal ball years ago and that I cannot control future world events and decisions.
They are always happy with that especially if we work together to cover all the bases. So from now on - please, less predictions and more “que sera sera!”