Since Brexit we have been asked a number of times what our “view on Brexit” is.
To answer this is difficult as most “views” tend to be personal and, like the whole Brexit issue, extremely emotional.
Brexit and subsequent events will mean different things to different people. Some good, some bad.
Sterling plummets to a 30 year low: That is obviously bad for some people, but at the same time presents big opportunities. (For Brits earning in S$, should you pay off your sterling mortgages?)
Stock market investors panic and there follows a massive sell-off of shares. The stock markets plunge, billions of dollars are wiped off the exchanges. But for every seller there has to be a buyer. So for all the panicky sellers, dumping their shares, there are an equal number of buyers buying them. They must believe that there is value there.
How many people reading this had the courage or conviction to buy at the worst time of the Global Financial Crisis in 2009 when the stock market suffered it's worst fall in living memory? In the nearly seven and a half years since then the MSCI world index has gone up 135% in GBP terms and the US S&P 500 index has risen by 163% in USD terms. Not a bad return.
As a Financial Planning organisation, our job is to try to minimise the negative impact of the fall out while seeking out opportunities to benefit.
British expats are probably feeling most vulnerable at the moment, with sterling at it's lowest level for over 30 years, but no matter whether you are British or European it would really pay to take a good look at your current situation and identify potential problem areas and see what can be done to minimise the impact and also look ahead and see where you can captitalise on any opportunities.
As Financial Planners we can help you asses how Brexit has effected you, both short and long term, and help you identify how you can make the most of these opportunities.
For a no obligation review of your financial circumstances please feel free to contact us at;
Chartwell Associates Pte Ltd
48A Circular Road
Tel: 6225 5707
In order to determine the best solution for you, meet with one of our advisers, who will asses your current situation, or issue that you want addressed, and will construct an effective affordable solution specially tailored to fit your needs.