Scheduled maintenance is planned for June 13 at 4pm, during which time the site will be temporarily unavailable.
.png)
Politics, especially campaigning, can sometimes feel like an American comedy-drama, with fiscal struggles, deals to be done, promises made and broken, accusations made, and secret affairs. (House of Cards, anyone?)
It is in the air and on our minds lately and for better or worse, in our conversations.
With that in mind, Shona (our comms superstar) suggested I write about "How to survive any political financial policy" for my next blog piece. A relevant topic given the climate out there.
So, I discussed the above with my mates at the pub, and my 16-year-old daughter. Interestingly, I found the same answer in two quite different places.
Recently I had a night with close friends - our monthly catch-up at the local pub. We are of similar ages, in similar life stages, and have careers, families, and a shared interest in mountain biking. A replay of a Rugby World Cup game was on the big screen, and other screens around the bar. As I looked around the room, it looked like the cast of Wisteria Lane had popped in for a drink. We are in suburban Wellington, our little community home for all of us for many years.
We briefly mocked Eddie Jones and the inept Australian rugby team (yes, the replay of Wales's demolition of Australia was on in the background). After discussing an upcoming mountain bike adventure, the conversation soon shifted to politics and the upcoming election.
Back to Wisteria Lane, I observed the group and eavesdropped with anticipation of an enthralling political discussion. With three conversations all going on at once, it was impossible for me to distinguish what was being talked about. Nevertheless, they were all smiling, laughing, and obviously enjoying themselves.
At the pub, our political discussions covered Fiscal Policy, Government Spending, the Environment, the Economy, Education, Privatization, Government Departments, Interest Rates, Health Care, and good old Winston Peters. Pointed and direct questions were asked, and then the big one: Who are you going to vote for and why? I tried to articulate with some conviction and rationale my answer. Did I have 100% clarity on who and why I would vote the way I said? No, I am still trying to remove the noise, read, learn, ask, and form my own opinion. Not based on a personality, how they look, or how they talk.
What did I learn from our group? We all want the same thing; we just have different views on how we get there. There was passion, intellect, and a true love for the country we live in. We may have different opinions, but we are willing to discuss and debate and learn from each other. Then the youngest member of the attending group posed an interesting question: Do you vote for what is going to benefit you right now and into the immediate future, or do you vote for the future, for the generations beyond you? A tough call.
We all want the same thing; we just have different views on how we get there.
Later on that week, I asked Madison, my 16-year-old daughter, should we lower the voting age to sixteen? And if we did, would she vote? She said no, we should not lower the vote. This year is an important school year for Madison, and her focus is on that, as well as navigating her way from childhood to adulthood in the world. Nevertheless, she would vote if the voting age were lowered. How would you decide on who to vote for, I asked? “I would talk to you and mum, do some research, and talk to my peers." Madison was able to articulate that all the parties want our country to be a better place and for everyone to prosper; they just have different ideas on how to do that. She is an epic human.
I have voted every year I have been eligible, but I have never really sought out other people's opinions or insights.
I believe most of us have leaned and voted in a particular way because that's how our parents voted, our social media echo chamber, or the biases of our upbringing.
But the world is changing, and it is good to have those conversations, do some research, get advice. It’s good to know the beast you are dealing with and come prepared for anything.
I am proud of my daughter’s sage response. Maybe having a father as a financial planner and a mum who has planned her whole life has influenced her, or it’s just TikTok?? Either way, she’s clued up and already understands that it is important to get some advice (read and research), ask the people she trusts, and talk to her peers about things like finance and politics. With the facts at their fingertips and time to prepare, this generation already has the nous to survive any government, any policy, should they do their homework and prep.
So, how do you survive any political financial policy? Have frank discussions with people you trust, do your homework, and prepare.
If you want to survive any political fiscal policy, yes, vote, but also get your own house in order.
Build cash reserves, review your expenditures, ladder your mortgage, diversify your investments, and don't be afraid to get advice. This way, you’ve got more of a financial buffer to deal with whatever policy gets implemented, and whether you voted for it or not. And really, that is how you survive uncertainty – the only thing we can be certain of in this world.
Dean.
Book a consultation with Dean here.
Hi everyone! My name is Dean, and I am Financial Adviser and coach. I work with people to help them to achieve their financial goals and assist them to make smarter financial decisions. Drop me a line for a chat and to work through your goals. I work with you to become financially fit and together we create a game plan for your financial future. D.
Disclaimer: Dean Blair (FSP87402) is a Financial Adviser with Velocity Financial (FSP95466). No investment decision should be taken based on the information in this blog alone. Please see Dean’s disclosure statement on our website.