Some might say the COVID-19 pandemic would have put something of a damper on one of South Africa’s greatest celebrations – the Birthday of the late President Nelson Mandela. If anything however, the way we have, as a nation, resolutely and bravely tackled the pandemic is testament to much of what he taught and instilled in us.
Mandela became a global icon, seen by all the world as a champion of human rights and one who possessed that rarest of qualities – true forgiveness. He was one who preferred passive resistance, but we should never forget that he was a great activist too. In his own words “I learned that courage was not the absence of fear, but the triumph over it. The brave man is not who does feel afraid, but he who conquers that fear.”
These word reflect the passion of a man who fought to conquer fear and are a great reminder to us all right now as we emerge from this global pandemic that we too need to conquer our fear of this scourge and start to look to opportunities that lie beyond it. So how exactly do we do that?
As frightening as this adversary may be, flight is not going to help us so the only other option – to fight – is definitely our only path. There is a great saying that “Life is not about waiting for the storm to pass.” Right now we need to start looking for any silver lining that this dark cloud may have presented to us.
As a nation, as business people, and individuals on a path to building a solid future, we need to take action right now to see what we can do to regroup and rebuild. Sometimes adversity offers the greatest opportunities – let’s get out there and start looking for them now.
Don’t let emotion affect reason
In so doing, let’s just utter a word of caution. Remember that you are probably highly emotionally charged right now and possibly even desperate. Be very careful not to let your emotions override your reasoning and start looking look into some ‘too good to be true’ solutions.
Let your Financial Advisor assist you with the choices you make. Remember they have been at the front line of the financial battle that has ensued from this huge economic disaster – and they are more likely to know exactly where to put those eggs if you are rebuilding the nest.
Focus on the long term
You may well also be inclined to look to quick fixes, selling off the wrong assets, or actually compromising your position because you aren’t able to see how you will be better off if you still take a longer term view.
Certainly you may have to make some sacrifices in the short term, but remember you are planning to return to your former glory, not just save the immediate situation.
See the opportunities that lay in front of you>/h3>
This adversity has certainly created some opportunities for us to take advantage of as we claw our way back to stability. Interest rates are at their lowest for as long as we can remember, so we should be able to capitalise on the savings we have made on our bonds.
We have been able to save on spending in restaurants, on travel and probably a few other business related expenses, because we have changed the way we have done business. All these savings can be used to cushion some of what we may have lost, or for some who have managed to keep earning, these are savings that can be used to great benefit as a part of our wealth portfolio.
There are great opportunities to buy too – Bargain basement shares prices, commodities from businesses that have folded and the businesses themselves are all up for grabs. All these are opportunities, but again it is important to be guided as to what are really good purchases.
Let your FA be your guide
We at Hereford Group have been offering such guidance for 25 years and are proud to say that we have been there for all our clients throughout the worst of the storm. We are there for you now too, to guide you as you regroup and rebuild your business and your wealth portfolio.
Contact a Financial Advisor to assist you to make the most of the opportunities that have arisen from this pandemic and ensure that you are always well equipped to withstand whatever life can throw at you and your family.
Mandela said “The chains on all of my people were the chains on me.” We are all in this together – so let’s fight it together and take what we can from it – to emerge victorious in the end. Stay safe.