The end of one of the UK's most well-known ‘star manager’ funds is nigh.
Back in June, Woodford’s Equity Income fund was closed to withdrawals.
The goal was to sell off the least liquid parts, and re-open at a later date.
But yesterday, the decision was made.
The fund will shut down, permanently.
The vast number of retail investors will not get any money back until mid-January.
(At the earliest.)
So, what happens now?
Brexit has everyone in a tailspin.
UK nationals living in other countries feel especially vulnerable.
The uncertainty regarding their futures…
Not to mention UK pensions and investments…
Hangs heavy over them.
I read a psychology blog the other day describing three types of mistakes people make.
The first is when you purposely take on risk to achieve a specific goal.
The second is the result of weaknesses in our skill set, character or awareness.
And the third is revealed at significant moments when we revisit our priorities and perhaps realise we could have made better life choices...
These are often life-changing and help guide the decisions we make in the future.
Now let's look at how some of these mistakes happen with our finances...
A few years ago, a U.S. Admiral delivered one of the most inspiring speeches of the decade.
He shared the important lessons he learned in the navy and one which he believed is most important...
Making your bed.
His message spread like wildfire and it's something that still resonates with me today...
Last week's blog was about the uncertainty of investing.
About the many aspects that are out of our control.
Yet, adversely, there are so many things you can control...
And they all begin and end with you.
I was watching Peaky Blinders the other night.
The latest episode takes place during the stock market crash of 1929.
The protagonist, Thomas Shelby, is upset about not withdrawing his money.
Worried he may lose out by staying invested.
Of course we know the opposite to be true…
(Don’t worry this blog doesn’t contain spoilers).
In life, nothing’s certain…
Not your job, your health, your lifestyle, nor the money in your bank.
But like death and taxes, one thing is for sure…
You need a plan.
One that you believe will work for you and your goals.
So you can successfully reach your ideal future.
Ever heard of an investing black hole?
Essentially, your money is sucked in…
And never seen again.
Don’t believe me?
Read this client’s story.