I don’t think anybody would have guessed a few months ago that we would be witnessing such a tragic sequence of world events. These events will cause a range of emotions along with concerns about how our long-term financial well-being will be impacted.
There is no financial plan that is bullet-proof, but there is a way to plan for unexpected financial or geopolitical events. We never know what is around the corner, but we should at least plan for the risk of something major being around the corner.
These are “known unknowns”; the types of risk that we can’t identify right now, but we know they are out there. Very few knew that Russia would engage in a full-scale invasion of Ukraine as late as a month ago. This action will cause both a near and long-term impact to the global economic picture.
A VOICE OF EXPERIENCE
There are several types of investments that can benefit from a pickup of inflation. There are investments that have historically been very resilient to unexpected geopolitical events. Allocating even a small portion of your portfolio to such assets can significantly mitigate the impact such events have on your financial plan.
Having a healthy cash reserve, a proper level of insurance, and a well-constructed estate plan are other ways to prepare for known unknowns. We cannot anticipate events that come out of nowhere to adversely impact our financial lives. However, there is a way to prepare for almost all conceivable scenarios.
As a practitioner, preparing for the known unknowns is always the strategy I will follow. It is also why I feel your financial plan will remain resilient to almost all circumstances, both predictable and unforeseen. I promise to never use an unforeseen world event as an excuse for your long-term financial plan being permanently damaged. This should never occur.
A WIDE RANGE OF SERVICES
Patty and I will be responsive to each of your questions and concerns. These are the times when strong and consistent communication are of utmost importance, and we promise to deliver that.
GROWING IN WOODSTOCK
With Gary and Wendy Helen now in their new hometown, he talked about plans to expand his business.
“We plan to grow in a purposeful way, continuing to provide additional services to all of our clients, while maintaining our commitment to the highest level of client responsiveness. We recently added an additional team member to achieve this end,” he said.
“Our growth in assets under management has been significant in the past five years, and our growth has been almost 100% referral-driven. We are expanding our established program of educational seminars to Woodstock this fall and aim to help more people each year. We look forward to meeting and working with our Woodstock neighbors.”
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by Hetmayar
*Any examples given are for illustrative purposes only and not meant to provide specific advice or recommendations for any individual. We strongly recommend you consult a qualified professional regarding your specific situation.
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