Like many people, I was anxious about the outcome of the Brexit vote. The historical decision to leave the European Union has caused worry and anxiety amongst many of the people that I speak to.
It’s not just the UK’s employees that are worried about job security and the well-publicised gaps in employee Pension Funds. In addition to this, various types of Investor are also getting worried. To further add to the sea of uncertainty, some people that chose to retire in sunny climates are now seriously questioning whether their life abroad will be sustainable. For many, the strength of the Pound versus the Euro will determine this.
The knock on effect of this is the reduced return on various fund investments. This development has served to add pressure on many of our well known UK companies. These include the likes of supermarket chain Tesco, the BT Group, and military contractor BAE Systems.
In an attempt to address this unsavoury predicament, companies may now need to reduce dividend payments in order to raise Pension contributions and seek to reduce the scary funding gaps. This could mean that certain types of Investors, people who have been somewhat insulated from the UK’s Pension crisis, could begin to see the negative effects on their investment returns.
In an article for the Independent Newspaper, Raj Mody, who heads PricewaterhouseCoopers’ pension consulting group said “There is no doubt that Shareholders of companies with major pension deficits will be concerned.”
The worrying news about Pensions was compounded with further worrying developments related to other aspects of the UK economy. There are indications that UK inflation accelerated in July and August, and signs that the weak Pound will fuel further price pressures.
The AA also predict that fuel prices will rise.
As we consider this, how does someone who is not particularly economically savvy or politically knowledgeable make sense of how to manage their personal and family finances through this uncertain time?
It is a confusing and worry time for many, and I cannot give anyone advice on such matters, but the general feedback that I do give to people who ask me revolves around making career and business decisions based on as many facts as you can gather.
As an example, I chose the industry sector that I work in now because I know that health & wellness has seen year on year growth for many years. People have proven, through their spending habits, that they have an insatiable and growing passion for looking good and feeling good. My advice is that if you choose an industry to work in, you would be wise to choose one that is growing.
The second area of focus should be to look at general industries that perform well in times of recession. Whilst many critics of Network Marketing will challenge this opinion, statistics about the global Network Marketing industry (from the World Federation Of Direct Selling Association) provide evidential resistance to the criticism and reveal strong revenue growth over the years since the International Financial crisis. I have offered credible links to these independent research statistics in the words of this Blog.
About the Author
Julianna Beavan is one of the world’s most respected Business Coaches and Network Marketers. With a proven track record in helping people to take better control of their financial and lifestyle circumstances, via exciting options that exist in the health & wellness sector. Julianna is often commended for her inspiring coaching style – never neglecting the important human aspects of being warm, supportive and humble towards all those who approach her with a serious business appetite and the discipline to succeed.
If you would like a totally free and no strings attached personal consultation with Julianna, please make direct contact via the link below. Julianna guarantees you will you have an opportunity to consider working directly and personally with her.