Many people have taken advantage of the Coronavirus lockdown to learn new skills – from baking bread to knitting, to learning a language. But trading securities, like rewiring the house, is not something you should do without professional advice.
Well, here we are again with yet another event that will impact markets and therefore your portfolios. Before I put these things into perspective from a financial point of view, I do want to acknowledge that events like these are terrible for the world at large. The uncertainty, fear and noise can unsettle us all, and there will be impacts to markets as we are seeing.
Over the course of a year, it’s not unusual for the stock market to be a topic of conversation at barbeques or other social gatherings. A neighbour or relative might ask about which investments are good at the moment. The lure of getting in at the right time or avoiding the next downturn may tempt even disciplined, long-term investors. The reality of successfully timing markets, however, isn’t as straightforward as it sounds.
In the aftermath of the storm that hit the financial planning industry following Commissioner Haynes report on the financial services royal commission, which saw several big institutions exit the financial planning business, the one question that clients are (and should always have been) asking is – who is my Financial Adviser working for?
True Wealth is not just having money in the bank, it’s an inner condition of wellbeing. It’s about your financial health, your personal growth, your life and love, your passions. Your health is also your wealth.
