This Covid -19 and our consequent “lock Down” is probably the single biggest event to date for our generation.

We are in desperate times and what we see worldwide is desperate measures being implemented.

Who would ever have thought something like this happening to us, if only a few weeks ago we watched passengers trapped on a Cruise ship in JAPAN. Now we are trapped in our own homes.

The economic impact to date is enormous and what lies ahead will be a great challenge for us all.

We are now all forced into a situation that is outside of our control and we should make the best of our time. The world will surely be a different place after all of this.

What we will find on the other side of our “lock down” and this pandemic is the reality of what lies ahead of us, and we should prepare ourselves that it might not be a very pretty picture.

Now is a perfect time to reflect on your personal and financial wellbeing.

You might not currently be as prepared as you wish you were, but going forward that is something that you can change and it will require some proactive thoughts and efforts. Things don’t simply change on their own.

Some vital thoughts to consider whilst you have time to reflect are.

• Do you have sufficient provision for your family for a worst-case scenario?
• Will your children be financially looked after should you not be able to provide anymore?
• Do you have an updated and valid will?
• If you can’t work for extended periods due to illness will you have income to take care of you expenses and your family?
• Do you have an emergency fund for periods of uncertainty, such as we have now?
• Are you investing for the long-term, and are you mindful enough to see the opportunities to get ahead?
• Are you planning for retirement or close to retirement and not sure what to do?
• When last have you reviewed your investment and or retirement portfolios, not so much for growth, but rather for fees and long-term suitability for your needs?
• Do you have any diversification against a weak rand?

 We do Zoom, Face time and skype consultations should you which to discuss either your portfolios, your concerns whilst reflecting, or investment views in the current and forward markets.

Jacques Hodsdon –  MCom Tax | CA(SA) | CFP ®   is a Director of SPI WEALTH. For enquiries contact, jacques@ spiw.co.za or 013 752 6566