01 Sep Finding Our Footing During A Crisis
Each time the latest news report or market update is released, it can feel as though we are teetering on the edge of a fall. Can we see the end? Find our footing? Most importantly, is there someone to catch us if we fall?
We sit down with Andrew Brown, Chartered Financial Planner at Eight Wealth Management to answer the questions that are on everyone’s minds.
Is there still such a thing as the perfect retirement?
Yes, but for most, it relies on building and regularly reviewing a plan of what your perfect retirement may be!
Has anything changed due to the recent market volatility?
My clients have a plan; some are lucky enough to be on target for their perfect retirement, others are on the way, and a few have compromised for a more realistic outcome. Markets are always volatile and that will never change. It is that volatility that builds greater potential returns in the long-term, possibly more than a plan assumes.
Is there something we should be doing in response to growing inflation?
Keep informed. If inflation rises, then normally so do interest rates and therefore investment returns. Review your plan regularly, keeping your dreams realistic, and with the support of an adviser, you can maintain control of how you respond to the financial climate.
What would be your best advice during these turbulent times?
Sometimes the best course of action is to do nothing! This is really difficult as we are built to want to or think we should do something. Just be clear, you are doing something by making that choice not to react emotionally and make a mistake but to sit tight. Most of the big market gains immediately follow dips.
The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select, and the value can therefore go down as well as up. You may get back less than you invested.
It is never too late to plan for retirement and find your footing. By speaking to our experts, we can help you to renew your financial choices.
If you would like to learn more about Andrew Brown and the services he provides, please visit the following page: https://eightwealthmanagement.co.uk/about/eight-wealth-management-team/andrew-brown/