“It’s difficult to make predictions, especially about the future” – a quote which is usually attributed to either baseball player Yogi Berra or author Mark Twain – which in reality was most likely never actually said by either man – but nonetheless pithily sums up the problem with trying to work out what is going to happen in the weeks, months and years ahead.
It’s especially worthwhile to keep that quote in mind at the start of the year, as it’s a time when people like to have a go at predicting what the next twelve months will hold for the financial world in general. It’s a precarious business, though. Take the RBS economist who made headline news in January 2016, as reported in The Guardian and The Spectator, by predicting that last year would be another 2008, offering a second cataclysmic banking crisis. But, as we now know, his forecast proved to be extremely wide of the mark – and not for the first time.
All of which leads us to the latest crop of predictions for 2017 that have been appearing since late December, but changing your plans just because of what is in the press is almost always not a sound approach to take.
It might be difficult to make predictions about the future, but it’s much easier to decide what you want from the future and then do everything you can to make it happen. Do what Noah did – plan ahead, then review the plan regularly.
And that’s where we can help. For over 40 years we have emphasised the importance of reviewing your financial planning and that is why it has always been an added value service for our clients. So do not hesitate to call us to arrange a review especially as the tax year-end is fast approaching!
(PS I think it never was Twain but was a Danish politician in the 1930’s or 40’s who first mentioned that quotation!)
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