Do I still have enough??

As uncertainty over future asset values continues, Multinational consultant Capgemini estimates that the net worth of wealthy individuals globally will drop by an average of 6-8% as a result of the pandemic and associated market downturn.  Their prediction for Australia is a little more painful, average falls of up to 10%.

 

But what does that mean in terms of what’s really important to you?

 

I’m reminded of story I heard about Joseph Heller, the Catch 22 Novelist.  He attended a billionaire fund manager’s lavish party at an island retreat off Long Island with fellow novelist Kurt Vonnegut.

 

Kurt whispered to Joe “how does it make you feel to know that our host only yesterday made more money than your novel catch -22 has earned in its entire history?”

 

And Joe said, “I’ve got something he can never have.”

 

“What on earth could that be?”

 

“The knowledge that I’ve got enough.”

 

So do you still have enough?  Sovereignty our free to use wealth projector software allows you settle that question for yourself by costing up a ‘life well lived’ against assumptions and projections for income and assets over the long term.  You can use it on your own, or allow us to guide you through as part of our ongoing advice process.

 

Whilst we’d agree that short term returns are highly uncertain, longer term returns of diversified and well constructed portfolios are easier to forecast more accurately.  Our software deals with uncertainty by allowing the user to adopt a realistic confidence level and a prudent margin for error in the base case projection.  It’s designed for “what if” analysis and easy updating as priorities and markets change.

 

Take a look at this fun case study and access the software here.  Or make sure it’s on the agenda for your next advice meeting with us.

 

 

 

Disclosure Statement: This communication has been approved and issued by Sovereign Wealth Partners Pty Ltd ABN 18 607 071 367 Corporate Authorised Representative (No. 001233909) of Sovereign Capital Pty Ltd ABN 44 164 127 833, AFSL 456235.

 

General Advice Warning: Any advice included in this article and associated links is general in nature and does not take into account your objectives, financial situation or needs. If a product we recommend has a Product Disclosure Statement (PDS), you should read it before making a decision. Past performance is not a reliable indicator of future performance. We do not endorse any information from research providers that we provide to you, unless we specifically say so.

 

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