Do You Know What Tomorrow Will Bring?

I've been sharing the following idea with people for a few years now, and realized recently that I had never written specifically about it. So here it is:

"I cannot predict the future."

That may seem simple enough, and it's certainly accurate, yet for many advisors, this edict is completely disregarded. How many times have you heard someone say, "I know," when what they really meant was, "I guess?" In stating that I cannot predict the future, my intention is not to appear pessimistic. On the contrary, I agree with what Roosevelt had to say about the issue; "The only limit to our realization of tomorrow will be our doubts of today." I therefore believe that we can accomplish just about anything. Nevertheless, believing anything is possible is far more grounded in reality than believing that I could know, with any precision, how everything will ultimately unfold. And so with that much clear, I would like to share what I do not know about our collective financial futures.

I do not know which segment of the market will outperform all others during this year, or any year.

I do not know if this year's equity market will be up, down, volatile, or stagnant.

I do not know what our tax system will look like in ten, twenty, or thirty years.

I do not know what the rate of inflation will be, or what the rise in housing will be, or college tuition, or gas, or bottled water.

I do not know if age expectancies will continue to increase or begin to decrease.

I do not know how the United States will fare in competition with the rapidly developing markets of other nations.

While it may appear that I don't know much, here's what I do know:

I can presume, in a careful manner, certain long-term expectations. And if I am successful in helping my clients understand and appreciate those expectations, I would hope to maximize their full financial potential.

I am able (and willing) to respond to change. Ask any advisor who's been doing it for fifty years what he thinks about change, and he's likely to tell you his way is the best way, always was, and always will be.

I believe there is a close-to-perfect approach to meeting the goals of each client, and I spend great effort, in every instance, to find out what that is. Each individual, each family, each small business owner has their own attributes, and I am ever-present to the notion of finding a common ground. I always attempt to write about topics that transcend finance. Money is allegorical-how you save and spend both your time and your energy will often correlate with how you manage your finances. What I do not know about the future therefore also transcends economics, and so I approach everything with an open mind. Do you?

© 2005 Matthew S. Clement, All rights reserved

Matthew S. Clement is a financial planner and investment advisor representative with Financial Network Investment Corporation, member SIPC. He provides holistic wealth management and retirement planning to individuals and businesses. He can be reached in New York at (845) 942-8578, or by email: ClementM@FinancialNetwork.com.

---

What Happens if You Die Without Making a Will

If you die without making a Will in the UK,... Read More

Do You Know What Tomorrow Will Bring?

I've been sharing the following idea with people for a... Read More

Kundalini Lessons - Money

I've been going through and interesting growth period lately that... Read More

Healthy Eating On A Budget

It is possible to eat a healthy, balanced diet without... Read More

How To Reap The Rewards With Rewards Programs

Recently, many of these loyalty rewards programs have come to... Read More

Check Fraud and Verification

Before buying personal or business checks you should inform yourself... Read More

Bank On It: Places to Hide and Invest Money

Today I passed a thermometer at a bank that read... Read More

What is a Traditional IRA?

With a traditional Investment Retirement Account (IRA) you pay taxes... Read More

Save Your Money, Dont Give to Charity Scammers

**If it's Spam, it's a Scam!- If it sounds too... Read More

Save Money on your Clothing Budget. Tame the Closet Monster!

Reducing the clothing budget was a serious challenge for me.... Read More

The Wright Place - Finances

Women have a love/hate relationship with money. Most of us... Read More

Improve Your Professional Image Using Address Labels

One of the simplest ways to improve your professional image... Read More

What?s New in Checking ? From Designs to Photos

Just about everyone has a checking account. Checks present easy... Read More

Debt Management ? Watch Out for Bank Fees!

During the last twenty years, banks have offered a number... Read More

Succession Planning

Have you ever thought about what you are going to... Read More

Understanding and Controlling Your Finances

Have you ever wondered what it would be like to... Read More

7 Simple Ways To Save Money

Each of us knows how to spend money, but do... Read More

How to Choose Wisely a Credit Card

So, you've made the decision to apply for a credit... Read More

Planning Your Financial Future

Millions of people give a lot of thought to financial... Read More

Why You Should Seek Professional Help With Asset Management

Everyone needs to maintain their lives. What I mean by... Read More

How to Attain Your Dreams on a Single Income

If you recently became a single parent and see your... Read More

Live Green; Save Green!

Have you seen the recent article on a new "green"... Read More

Adverse Debt Levels Blight UK Consumers Personal Finances

Debt levels are at an all time high in the... Read More

Dramatically Improve Your Stock Trading Success

Get Access to Realistic profitable strategies & discover the mindset... Read More

Budgets And Eating - Can They Co-Exist?

Whatever your reason for having a tight budget, the truth... Read More