The UEFA EURO 2024 tournament hasn’t been a time of confidence for England followers, despite a position in Sunday’s final. From an imperative goal in the 95th minute of their match against Slovakia, to a nail-biting penalty battle in last weekend’s game with Switzerland – the team have certainly kept fans on the brink of their seats.
As celebrated as the neck and neck victories are, England’s manager, Gareth Southgate, has faced an array of criticism for questionable decisions in match tactics. Whether it be switching positions of senior players, making last minute substitute changes, or focusing on defence with little acknowledgement of an attack strategy, Southgate’s plan has received it’s fair share of scrutiny over the weeks of the tournament.
As pension experts, there’s not a lot we can tell you about why certain game decisions have been made. However, we believe we can learns some important lessons from Southgate’s strategy when it comes to your pensions and investments.
Patience with invested funds
Prior to a match, Southgate makes investments in every player he puts on the pitch. The investment is his confidence that these players are the collection of individuals who will help result in a victorious game and a subsequent advancement for England in the tournament. Arguably, one of the most criticised aspects of his action plan is that this investment will not be withdrawn until well on in the game; in some cases with only mere minutes left until full-time.
When it comes to your own investments, it could be beneficial to imitate Southgate’s patience. Although you may see markets dive, your investments may reap more benefits should you leave the funds longer. The longer you keep funds invested, the more potential they have to grow. Frequent interest rate fluctuations can unsteady market performance before eventually settling and continuing with slow growth*.
Change can be good
On the other hand, you should also remain open and flexible to change. The England team have managed to scrape by with wins following last-minute substitutions, but the same might not apply to your investments! Should performance take a steep drop with little indication of improvement, it may be time to look at withdrawing funds and investing in an alternate portfolio. To gain the uttermost confidence about the right time to make changes, it’s crucial that you consult with an FCA-regulated financial adviser.
Take counsel
You wouldn’t want Southgate to steer the England team without seeking advice, so why would the same not apply with exploring your pension options? Financial advisers and football coaching teams are very similar in one aspect – both work hard to establish the best positions for their retrospective areas in a bid to score a win. Where Southgate and his peers might plan an in-depth formula for upcoming games, a financial adviser will take into account your circumstances and goals to craft a personal recommendation for the retirement you desire.
Having a financial adviser on hand takes all the worry away when it comes to retiring and puts the fun back into leaving work. At My Pension Expert, our team of Independent Financial Advisers have the knowledge and expertise to help you get the best retirement possible for you. From assessing your risk levels to matching your ethical beliefs by recommending sustainable model portfolios, our advice is truly tailored to how you want to live your retirement.
You’ve worked hard for your pension. Now, with the right advice, you can make your pension work hard for you! Get in touch with our team today to start your route to retirement.
*Invested capital is at risk