Can you remember your New Year’s resolution last year for 2020? No doubt it was positive and you envisaged growth and prosperity. People were even saying “2020 – the year of plenty!” Well, that it was, but plenty of what we least expected!

By February, with our plans well underway, we had all heard rumours about a few lives being lost to some peculiar virus in China – an incurable one it seemed which scared us a little – but none of us suspected what was to come in the next few months.

Well, no need to re-enact it all. Suffice to say, businesses, jobs, fortunes and worst of all many lives were lost before we could even comprehend what had actually happened. COVID-19 had released its fury and had the entire globe in its steely grip in the blink of an eye.

It’s not yet over either. As we reach the end of the year many top companies are predicting poor first quarters in 2021, as the UK and European countries besieged by the second wave of this scourge have gone into lock-down again.

…but there’s light

Human beings, being the resilient creature that we are and wired with an invincible survival extinct, will always overcome however and we are now beginning to see the light. In South Africa in particular, having dealt well with the pandemic, and providing we don’t write it off too soon, are already taking positive steps towards regrowth.
The USA elections have been the first of the silver lining behind 2020’s dark cloud as the Democratic candidate, Joe Biden, was elected the 46th president of the United States of America in November. The markets seem to be positive about a Democratic win due to their support of a large rescue package for the States, as well as a more internationally friendly trade outlook, especially with China.

According to Bloomberg “the FTSE/JSE Africa All Shares Index rose as much as 1.4% to the highest intraday level since 27 August and was up more than a 1% in mid-morning trade on the day after the announcement of the win. Positive sentiment helped boost 101 of the 141 listed companies.” Finally something positive – something to build on.

As President Ramaphosa spoke on the 11th of November about where we were going with the pandemic, the tone was fittingly serious, as we do have a long way to go to defeat this virus, but the message was positive. The overriding theme was about moving forward with an eye to economic recovery. This superseded all other concerns and there’s no doubt that the country as a whole echoed this sentiment.

Will you benefit?

So the first question is “How can you best benefit from this long-awaited positive upturn?” and more importantly “Will your 2020 New Year’s resolution prepare you for 2021?”
New Year’s resolutions are pretty fruitless (as 2020 should have taught us) unless we have a solid wealth profile that covers all the bases. We simply never know what the New Year will bring.

Wealth planning is not a one day game. It is about being prepared for and protected against the unexpected and then positively building towards a long term future. Many of our Hereford Group Financial Advisors, because of this holistic wealth planning approach, received accolades during and post-pandemic as they saved many clients from suffering as badly as others.

Strike your balance

Life is filled with risk and we all view and approach it differently. Some may lean more towards profits and others more to protection because they are more risk-averse. We at Hereford Group have for 25 years been correctly advising clients because we are aware that everyone and every business is different.

At the end of the day, when you make your New Year’s resolutions, you will call the shots, but talk to one of our experienced, knowledgeable Financial Advisors to ensure that if 2021 has more storms in store you won’t be sinking – and if there’s a fair wind blowing you will be sailing full speed ahead!

May 2021 be exactly what you wish for! Happy New Year.

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Stay Safe. For all official information and updates regarding COVID-19, visit the South African Department of Health’s website at www.sacoronavirus.co.za