The bear market in local and global equities intensified during the first quarter of this year and it is therefore time to review your financial plan, either because you don't have a financial plan or because your plan isn't up to date to suit our current environment.
For people without a financial plan, now is the best time to take responsibly. Just as people don't go to the dentist as regularly as they should but wait until they have a toothache they can't bear, so with financial planning the only time you feel the pain from failing to plan, is when it is too late.
If you do have a sound financial plan that incorporates well-diversified investments, you should still be ahead of you plan. It will be beneficial to complete a value for money analysis for the first quarter of this year. This analysis will confirm that your strategy is still on track and that you are receiving the maximum benefits that are available in the market today.
There is no need to panic if cash in any investments have suffered some losses until we have revised your plan and devised a strategy to move your investments slowly into a more diversified portfolio - and hopefully mitigate any negative growth.
If you still have a long way to go to retirement and have some spare cash, it may be time to start investing every month or review where you are investing to take advantage of the opportunity to invest in low priced shares.
If you don't need to access your savings in the short term, equities are the place to be. It is not hard to see that equities will do well within the next year or two.
Share prices are at very low levels, low interest rates are positive for companies and there is a lot of money in cash or cash-like investments ready to move into equities when market sentiment turns positive.
The economic downturn may continue, but equity markets tend to recover about nine months before the economy turns.
Please contact me today to complete your free Value for Money assesment!
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