There’s a lot of uncertainty around at the moment and it’s in relation to inflation or how quickly that might subside.
Interest rates might subside or stay high as the case might be and there will be an impact on economic growth and also the geopolitical conflict of wars that we’re experiencing at the moment.
So the only certainty that you do have is planning, and it’s financial planning, this is mapping out your financial future and it’s taking account of what’s happening at the moment and making provisions for them.
This requires you to have an emergency fund in place, so if there’s an unforeseen expense, or perhaps a redundancy, it’s making sure you have money for that.
If things are worse again, it’s reviewing your life and illness policies to make sure that you have adequate coverage.
It’s looking at your pensions and investments and making sure that you’re well diversified.
If there is a recession, maybe some areas might be affected more than others and it’s just not to avoid an exposure to one of those.
Really it’s taking a long-term view because we don’t know what will happen in the immediate term, but we do know what equities the long-term trend is up.
If you are a short or long-term investor and need advice or assistance on inflation or interest rates affecting you, feel free to get in touch, and let’s start a conversation!