How does your garden of wealth grow?

Financial Planning & Investments: Mark Hinds, Charles Stanley Norwich

It could be nurturing family, friendships, a business, a lifestyle, a belief, or all of these things and more.

Importantly, whatever it is, it’s likely to be at the very core of what makes life individually fulfilling for every one of us.

The nurture definition, of course, also perfectly describes the process of managing your wealth and investments. It could also be that nurturing your wealth is at the core of what makes life fulfilling for you. If it’s the only thing, then I would encouragingly suggest there is some scope to broaden those life horizons.

A plan for all seasons

Of course, there is no doubt that getting your finances in shape makes getting the rest of your life in order a great deal more straightforward. That said, wealth does not protect you from worry.

A Charles Stanley survey* found that 42 per cent of high-net-worth individuals were stressed about their financial situation some or most of the time. So, even those whom you might think would have it all sorted aren’t quite so certain themselves.

So how might we make things a little easier? When it comes to managing investments, I am a big fan of the gardening analogy. That is, think of managing your investment portfolio like managing your garden.

You make changes for the different goals, seasons, aspects, and conditions. If something has done very well, but is taking over the rest of the garden, it is time to reach for the secateurs. If something has failed to take root after sufficient time, then it is time to add it to the compost heap and replace it with something better suited to the conditions.

Easing the burden

What many people do when they have a beautiful garden (think store of wealth, to continue my analogy) is to get some help to ensure they get optimum enjoyment without it becoming a burden or worry. Indeed, the larger the garden the more likely one is to seek help, and the more important experienced professional help becomes. And so it is with your wealth.

If you are concerned that your wealth deserves a little more attention, or you feel it is becoming a burden, then we are here to help.

The value of investments, and any income derived from them, can fall as well as rise. Investors may get back less than originally invested. Charles Stanley & Co. Limited is authorised and regulated by the Financial Conduct Authority.

*Source: Charles Stanley research Sept-Oct 2022