SWM Advisers UpdateFebruary Wrap 2022 Firstly, we hope that everyone is keeping safe in light of the recent “rain bomb” Australia’s east side has suffered last week. We know that this has affected some of you and we invite you to reach out to us if you need help. Well after several weeks of ‘will they or won’t they?’ Russia invaded Ukraine and the world watched in shock and the markets reacted. We saw our local markets suffer its worst trading session in almost 18months as the ASX 200 plummeted 3% wiping nearly $74 billion off the value of the market. Since then the market has pulled back some off these losses with a 5 day winning streak with commodities being the driving force. Boring Budgeting? I often say to my clients that the wealth creation journey starts with a home budget. The discipline of understanding where your hard earned income is going is extremely important. In our current climate, budgeting is more important than ever. Budgeting conjures up the thought of sacrifice and missing out, however the opposite is true. Budgeting can often mean that you can achieve more, as you have planned your spending instead of impulse spending or even worse – getting into debt. Through setting goals and planning for your expenses you can actively track your progress and achieve goals such as:
Its important to formalise this and we can assist with:
“ Progress is impossible without change” “Dear March, please come in sit down and be quiet” We will monitor the situation, and continue to speak to those of you who are in the process of implementing investments. There’s no doubt that markets will continue to be volatile with sudden swings and recoveries. As always, I am available to discuss any of these points with you. Stay safe everyone !! |