Will it be the end of the World, or at least as we know it?

Posted by siteadmin on Tuesday 21st June 2016.

Some of the debates around the EU Referendum (on both sides) have predicted almost apocalyptic scenarios depending on the result.

The Brexiteers say we’ll be doomed if we vote to stay in and the Bremainers claim we’ll descend into financial meltdown if we leave.

I chaired a debate hosted by the Pinner & Northwood Business Club last week focusing on the question of the EU Referendum and it was indeed a very interesting and lively evening.  Many people changed their view from when they registered in a closing poll taken after hearing from the panellists at the end of the debate, where there were convincing arguments from both camps.

However, whichever way it shakes out the certainty is that there is a level of uncertainty.

Now as I’ve said before there’s absolutely no point in worrying about things which are beyond our control.  Especially when it comes to financial planning.

A leave or remain vote doesn’t affect the following:- 

  • The need to have a decent level of protection in place
  • The security of having a rainy fund to cover the unexpected
  • The benefits of having a medium/long term financial plan and reviewing it regularly 

The list goes on and to use management speak, it’s called ‘controlling the controllables’.  Simply, by undertaking these tasks will put you onto a steadier financial footing.

Many times over my twenty five years (plus) in the financial planning business, things have happened nationally and globally which caused great concern.

I hark back to an earlier blog though where I suggested that we adopt the World War Two slogan of ‘Keep Calm and Carry on.’

In this case I think we should carry on with any financial planning we have in place and not be panicked regardless of the outcome of the EU Referendum.