It’s crucial to prioritize paying off debts and accumulating savings rather than merely relying on having a large savings account while carrying debt.  Clearing debts and establishing an emergency fund should take precedence, with credit cards as a last resort.  Additionally, paying off your mortgage is paramount, granting financial freedom and the satisfaction of being debt-free, similar to becoming your own bank.  Banks often encourage debt accumulation, but true financial security lies in debt repayment and saving diligently.

In the realm of financial markets, we’ve weathered numerous downturns, from the tumultuous dotcom bubble to the impactful crashes of 2001 and the colossal 2008 financial crisis. Contemplating how to safeguard our clients in the face of future uncertainties is paramount. It’s essential to ensure that our investment strategies are adeptly positioned regardless of market conditions. Simply relying on a passive “buy and hold” approach without reassessment can lead to missed opportunities and potential pitfalls in an ever-evolving financial landscape. Adaptation and proactive planning are key to navigating the complexities of the market.