Reflections on 2020
Published / Last Updated on 17/12/2020
We have all faced the reality of mortality. We have all suffered deprivation whether that is working too hard and being rushed off your feet or alternatively being bored stiff, trapped inside four walls when furloughed and unable to work. Lower incomes or redundancy, missing friends, missing family and more.
We hope many have realised the importance of having emergency savings, life insurance, income protection insurance and Wills.
We have learned that some businesses and organisations can cope and adapt to change, others cannot.
If you are not an experienced investor, perhaps this year will have helped you realise that markets do fall very quickly but they do recover over a few months. Short term volatility will always be with us but gaining experience and an understanding that medium and long term investing is like bouncing a ball whilst walking up a hill.
If you have not set your New Year Resolutions then make sure you plan your finances for more coronavirus waves, this is not going away. Whether we have been vaccinated or not, much of the planet will not have been. Build up your emergency funds, make sure your insurances, Wills and Lasting Powers of Attorney are up to date.
Goodbye 2020, it's been a rollercoaster.
