The world changes at a rate of knots – even more so in the current pandemic era that we are living in. Many people think that they need to follow these changes and adjust their investments accordingly. But this is not the case.
We live in a world where we are meant to be on the go all the time. 24-7. Not only is it exhausting but it is also unproductive and can be harmful – not only to your health but also to your financial investments.
At times of trauma or uncertainty – as we have all experienced recently with the COVID-19 lockdown – we need to feel we are doing something proactive. However, when it comes to long-term investments, at times like this, it is better to do nothing at all. It seems counter-intuitive but sometimes this is just what you need to progress and grow.
The majority of market-focused and event-driven investments fail whereas having a long-term goal and sticking to it regardless of what is happening in the world is the most lucrative path to follow. Being consistent is the best skill you can have as a successful investor.
When you put your financial plan together at the beginning of the year you were pretty certain of your goals, right? Although Covid19 has shaken the world, and changed the way we live, has it changed your financial goals?
If not, there is no reason to change anything with your investment portfolio.
If your goals have changed then the first step is to speak to a financial advisor who can realign your portfolio with your goals.
If you feel the need to do something proactive in regard to your financial future please feel free to have an informal, no obligation chat with Jessamy Walker and the friendly team at Brown Dog Financial on 01488 682890 – for the right advice at the right time.