Why Financial Planning, just like Airplanes, has its ups and downs.
Here at Metis Ireland, the Philosophy of #StickWithThePlan is more so set in stone rather than just “penciled-in” as one of our fundamental values when it comes to financial planning. On a dreary Tuesday evening in November I was trying to tidy my desk when I stumbled upon the very poignant article seen below (Dated July 2017).
Three or so months on and much has happened, a lot has been said but regardless of which side of the fence you sit on, Ryanair are still “Ruthless Ryanair”. With all that has been written and said about the affairs of Ryanair and their pilot rota over the past number of weeks and months, and despite which side of the above mentioned fence you find yourself on, there is a very important lesson and message to be taken from this very topical incident(s).
In the world of financial planning, stocks and shares, just like every other aspect of life, you cannot predict the future. Three months ago Ryanair was a juggernaut in the stock market that looked like its wheels would never stop turning and churning out year upon year of increased profits. This isn’t a blog aimed at having a laugh at Michael O’Leary and Co nor is it an attempt to advise you that now is the time to buy into Ryanair while it’s down. The point I am making is that in a well-structured Financial Plan, there must always be an emphasis on diversification and a long term outlook in order for it to succeed.
I have no doubt that Ryanair may well recover and who knows may continue post this perceived “crisis” to thrive, but remember that a financial philosophy is essential to a successful plan. Don’t put all your eggs in the one basket and more importantly don’t be lulled into a false sense of security that every goose will lay a Golden Egg!!
Trainee Financial Planner
Metis Ireland Financial Planning Ltd t/a Metis Ireland is regulated by the Central Bank of Ireland.
All content provided in these blog posts is intended for information purposes only and should not be interpreted as financial advice. You should always engage the services of a fully qualified independent financial adviser before entering any financial contract. Metis Ireland Financial Planning Ltd t/a Metis Ireland will not be held responsible for any actions taken as a result of reading these blog posts