What we learned in 2020 – A decade of worry for no reason?
If there is one thing that we learned from 2020 it’s that the financial world, and in particular market commentators, have spent the last decade worrying for no reason.
We have spent the past 10 years being told that stock markets are going to fall and the economy is going to falter due to:
- Interest rate rises
- Ballooning budget deficits
- Rising household debt
- Trade wars
- Donald Trump
In the end, it was a virus that none of us had heard about which caused the markets to fall and the economy to stutter!
History tells us that most of the major stock market crashes have been due to a surprise event. For example, 9/11 or the Credit Crunch in recent times, or even going all the way back to Pearl Harbour or the Great Depression.
It stands to reason that the events that catch us all by surprise are the ones which have the biggest impact on the markets and the economy as we are not prepared for them.
What can we do?
In reality, you need to ensure you have a financial plan which works through the bad years as well as the good. Then stick to that plan and don’t allow the constant negative news and media coverage to knock you off course.
In other words, keep calm and carry on!
At MHA Tait Walker, we are passionate about supporting our clients with their financial goals. We have over eighty years’ experience in providing our clients with the highest quality wealth management services and we are fully equipped to support you.
Every client has different needs and aspirations, and we offer personalised advice that covers financial, investment and tax planning, designed specifically for your lifestyle goals and stage of life.
Whether you’re an individual, business owner or trustee, one of our professional wealth management experts will work with you to create a tailored strategy that works for you. We will always be future focused, especially with the ever-changing landscapes of regulations and tax so that we can help to maximise your wealth through these challenging times.
This blog is for information purposes only and should not be advice or a recommendation to act. You should always seek independent financial advice before taking any action with your pensions.
Tax advice is not regulated by the Financial Conduct Authority.
MHA Tait Walker Wealth Management is a trading style of Tait Walker Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Company Number 5674020. Incorporated in England. Tait Walker LLP trading as MHA Tait Walker is a member of MHA. MHA is an independent member of Baker Tilly International Limited, the members of which are separate and independent legal entities.