Outlook from Kunle

OUTLOOK

Fr Kun

There’s nothing quite like the stair challenge I set myself at the start of each year. It’s a busy period seeing clients (mainly video meetings) and I always challenge myself to walk up and down the office stairs – all eight flights - to and from each meeting (sometimes I reward myself at the end of the day with a Tunnocks caramel bar).

It was during one of these stair climbs that I felt a sense of deja vu – a nagging feeling about writing this article, but as my foster mother used to say - "you've just got to get on with it." So here we go.

Communication is king

I recall in March 2020 working from home and wondering "what is going on?" – I don’t think I was alone in thinking that! But I realised that the way that I communicated with my colleagues and the way that we communicated with our clients would be even more important than ever before in the months ahead. Anyone who has read the book “Turn the Ship Around" by L. David Marquet will relate to how important communications are, especially in uncertain times (if you haven’t read it, you can buy it here – and check out the end of this issue of SKQ for more book recommendations).

And with markets back then falling faster than English wickets in the Ashes, I was suddenly acutely aware that we had recently employed the services of our new investment team, Square Mile. What a baptism of fire! But it didn’t take long to realise that we really were working with quality people.

Square Mile had a clear communication approach. Plain English. Sensible words. Helpful suggestions. Plus they were always available to help. It was just what was needed while navigating such a rocky period. They have been such a great addition to the SK Team.

What is your hierarchy of needs?

At the start of this year, I spent a bit of time in Tankerton reflecting on the markets- at c 7,600 and seeing how well the markets were performing, I thought and smiled what a difference two years make. Or perhaps not…along comes inflation (RPI 7.4% and CPI 5.4% at the time of writing). Russia has invaded Ukraine. We are still in a global pandemic. But we know that panic is not a place to make decisions about our finances. And when it comes to money, we need to stick to the plan, remember that investing is for the longer term and importantly focus on what we can control. And it is this last point – focusing on what we can control – that o en leads me to Ivan Maslow’s great work in creating the well-renowned Hierarchy of Needs.

I like to use a simplified version, but the principle is the same.

It doesn’t take much time or energy to complete this exercise and answer these simple questions. But in return you gain real insight into your financial situation and can enjoy that all important sense of control in choppy waters.

Fixed Expenditu

how much do I need to make sure all bills get paid?

Dis eti ary Expenditu

where will the holiday destination be? how to protect monies for those that you love when you die?

Beneficiaries