As we begin this new year, it’s very easy to become despondent given everything that is going on around us – COVID-19 in particular, of course. Instead let’s try and look for some positives to take into 2021.
Obviously the biggest positive on the COVID-19 front is the approval and rollout of a number of vaccines across the world. These will only increase in number as the year progresses with more and more vaccines approved – there are reportedly over 200 in various stages of development. Hopefully by the end of the year many countries will have inoculated the majority of their populations with the desired herd immunity as a consequence. Hopefully, too, life can start to return to something approaching normality in 2022 and beyond.
Meanwhile, as hard as it is, patience is going to be the key over most of the rest of the year and we will need to maintain the required discipline of closely following the rules and the protocols to keep ourselves and others safe from this viral scourge.
On the global front, we can look forward to the advent of a new administration in the US which will hopefully commit the most powerful country in the world to a less confrontational co-existence with others and a return to focusing on issues such as the very pressing subject of climate change. Investment markets which have been at record levels in recent weeks are reflecting a new mood of optimism that the pandemic can and will be beaten in the foreseeable future with normal economic activity gradually returning.
On the personal front, this is surely a time to take stock of where we are in our lives. We must still make plans for the future and not let go of those longer-term dreams either. Imagine where we will be in say two or more years’ time and set out to realise those plans whatever they might be.
Because we are still subject to what are in some cases severe restrictions, this is a time to take stock of our savings and investment goals, bearing in mind those plans should still be realised if not this year then certainly in the foreseeable future. We mustn’t lose sight of them just because we are living through extraordinary times now.
Many are looking to a process of personal renewal – say a new daily exercise routine or a reading programme to catch up on those books you’ve always wanted to read. Maybe it’s just a question of sitting back and watching those films or TV box sets you missed and have always wanted to catch up on.
Thankfully, at Maximus we are all well and eager to serve our clients’ financial needs. Most of us will be working from home for the foreseeable future, although some, if they feel they are able to, will be going into our Woodmead offices to keep everything running smoothly there. Our prime objective to provide our clients with the very best financial planning advice and service is as relevant now as it has ever been.
Please do not hesitate to contact your Maximus Adviser or any of our staff should the need arise.
Stay safe and stay well.
The Maximus Team