In younger years and through professional sport, I was very lucky to have had the opportunity to explore the world and its less known places many times over. Back then, before leaving the comfort of home soil, your main source of information would have been a book or an atlas. No Alexa, no smartphones and no ease of internet access.
I loved the research and still do. Planning took time and through reading you gained knowledge. In our opinion, these are attributes that still very much underpin best laid plans. However, with the rise of technology, off-topic reading is arguably less likely to be absorbed and the opportunity to learn more can succumb to our newly found AI friends.
From my experience within elite sport, the athlete or team’s objectives will be clearly set for the year ahead, and beyond, with specific tangible smaller goals staircasing to a bigger collective achievement. The research and planning will be extensive, seeking to cover most eventualities, and the commitment of a long-term nature. We apply this approach with our clients.
Of course, we all know that plans can fail. The uncontrollable happens.
Adapting to change is made much easier when we have clarity over our direction and purpose. Sometimes this requires weathering pressure, sometimes a pivot.
Decision making, whether professional or personal, can be made more fluidly if we are carefully informed. We live in a world which is forever changing.
Surely to keep ahead, or at the very least to keep pace, we should be constantly learning?
My school motto is praestat opes sapientia, meaning wisdom surpasses wealth. We embrace this at Rosart, seeking to grow through being curious and real-life experiences, and becoming that little bit wiser every day.
The Autumn Budget always offers us the chance to learn more. Last October, the Chancellor threw several tax bombs which impacts many of the individuals and families that we look after. One particular aspect of this is the intention to pull the value of pension savings into the scope of inheritance tax.
It feels as if the pension landscape can move quicker than most, with many new rules having been introduced in the past 20 years. We have no doubt many more will come into force over the next 20 years.
The Government and policy makers certainly keep us on our toes and a learning mindset certainly helps us to steer and guide our clients efficiently and effectively. It is our role to provide sensible financial education, distilling complex aspects of rules, regulation and markets, helping others make those big life decisions.
With the tax year end looming, there are plenty of good reasons to reach out to an independent financial planner. If you would like to learn more about Rosart and how we could help you, please get in touch.