Adjusting to lockdown life

Logic Wealth Planning listening to questions from clients

So much has changed since the beginning of March and adjusting to lockdown life has been a challenge to people, businesses and other organisations around the world.

The outbreak of Covid-19 took everyone by surprise. We’re a connected, global society now. Money, goods, services and viruses can move across borders easily.

What makes humanity stand out is its ability to react, adapt and prosper. The challenging situation will test everyone for months and years to come. However, answers will be found, and solutions put in place. 

Everyone at Logic Wealth Planning has pulled together. Remote working from home was quickly established so that advisers and support staff could work safely as advised by the government.

Emails have gone out to clients offering support, guidance and reassurance. That’s essential. During uncertain times people need to know that others are there to help.

When the going gets tough

We all know how the song goes, and the tough really do need to get going now. There is no place to hide for world leaders and expectant populations want clarity and guidance.

We are all making changes, staying at home and dealing with unusual circumstances. However, spare a thought for a few of the high-profile figures in the UK.

Take Boris Johnson. He has had a few interesting months in charge, to say the least. He’s taken over the running of the Conservative Party, handled the Brexit negotiations, won a General Election and then faced Corona Virus – literally, first-hand! 

Then there’s Andrew Bailey, newly appointed Governor of the Bank of England. He, like the Prime Minister, has faced a baptism of fire. A quick adjustment to the UK interest rates was quickly followed by Mr Bailey having to lower base rates to a historic low of 0.1% as the coronavirus situation developed.

Sometimes, having to stay safe in our back gardens doesn’t seem so much of a challenge!

Financial markets rise and fall

Watching financial markets rise and fall has been uncomfortable viewing for many investors and traders.

Like the financial crash of 2008 before it, the turbulence experienced this March will happen again. That’s why we always ask clients to look at the long term and carefully consider how they approach risk.

We build in worse-case scenarios so that people understand how markets react to global situations. There will always be risk associated with investing. How you handle the challenges is very important.

Everyone at Logic Wealth Planning works hard to be composed and professional so that our clients receive the best possible balanced and considered advice. 

Independent financial advice

We haven’t got every answer to the coronavirus conundrum, but we have made sure that staff are positioned to support our clients when they need us.

There has been unprecedented market volatility and few “experts” can predict where we will all be in six, twelve- and eight-months’ time.

There are no easy “fixes” to a complex and fast-changing situation. However, keeping a calm head and trusting in the long-term plans you have in place is a sensible strategy.

Hasty decisions, constant changes and knee-jerk reactions rarely work when the goal posts can change each day.

Please be aware the value of investments or income from them can fall as well as rise. We’re here to help you make informed decisions as you put important things in place for you and your family.

Call us on 0808 1234 321 or email info@logic-wp.com to arrange a no-obligation discussion about planning pensions and investments in the future.   

* Logic Wealth Planning provides independent financial advice in Manchester, Bury, Rochdale, Cheshire and the surrounding area, but not limited to the region.