Let’s start with a question…

What connects Margaret Thatcher, Swiss psychiatrist Carl Jung, Ghandi and Taoist philopsher Mao Tzu?

The answer?

They all wrote about and spoke about the importance of one particular attribute…

Patience…

We also all know the phrase, initially recorded by Roman poet Prudentuis…

Patience is a virtue.

There’s a lot to be said about Patience in a lot of areas but patience is particularly important when we consider our financial plans.

The most recent practical example of this is how patient investors weathered the storm of the initial months of the pandemic, when they’re was particular market volatility, to emerge relatively unscathed.

Now, it’s important to mention that markets aren’t controllable, and volatility can happen at any time. That’s out of our control.

What we can control, like anything in life really, is how we react to what life throws at us.

When it comes to investing that’s where patience comes into play. The ability not to react when markets are at their most volatile takes patience to wait until the investment seas are a little less choppy.

Now there’s clearly more to making the right investment decisions than patience. This includes making sure you’re comfortable with the level of risk you’re taking, regularly reviewing how your investment approach links to your financial goals and ensuring that you’ve got someone on your side to support you to do this…if working with an adviser is right for you.

However the reality is that is that when considering financial planning success it’s really important not to underestimate the  virtue of patience, the importance of focus on what you can control and the ability to stick to the plan.

if you want to understand how we do this feel free to contact us to find out how we work feel free to get in touch on 01708 606 202 or cassiedaems@cervellofp.co.uk