The only thing you can’t save is time!
A previous colleague once said to me that the only thing you can’t save is time! How true! As another year closes, we realise that yesterday has gone and that we must look to the future. This concept around time is an ancient one. The Stoic Philosopher, Seneca once said over 2,000 years ago,
“We’re tight fisted with property and money, yet think too little of wasting time, the one thing we should all be the toughest misers.”
As 2024 draws to a close we hope that you spend quality time with loved ones and special friends and enjoy fellowship and laughter together. Sometimes financial assets can be an enabler to make sure that this happens. At Isbister and Partners that is how we view our role. We plan to be an enabler, to help you achieve your financial goals which will help you to lead your “best life”, whatever that maybe.
As is often the case the year had a lot of events. Most recently, November was all about the US election. An emphatic win for Donald Trump and the Republicans was taken extremely positively by the markets. The S&P500 rose 5.9% for the month, with smaller sized companies rising closer to 11%. The rest of the world was not as positive. In fact, most having a disconnect with US markets. The worries of Trump imposing trade tariffs affected markets around the rest of the world. Asia, including Japan, fell around 1%, Europe -1.8% and emerging markets -3%. The RBNZ delivered its expected 50 basis point cut to the official cash rate (OCR), signalling a high probability of more sizable cuts. This was extremely positive for the local bond market, with bond returns of around 1-2% for November.
Overall, however, your well diversified KiwiSaver and Investment Portfolios have performed well and delivered an excellent finish to the quarter and year. As for 2025? Who knows? What we do know is that our goal is to make sure more New Zealanders have access to financial advice which can then enable Kiwi’s to lead the life that they want or desire to have. One last thought, (once again) from Seneca,
“As each day arises, welcome it as the very best day of all, and make it your own possession. We must seize what flees!”
Have a Happy Xmas and Merry New Year!
Disclaimer: This newsletter is meant to be informative and engaging, hopefully not a cure for insomnia. Please don’t take this as personalised financial advice. Discuss your situation with an Advisor. This is where I need to say past returns are no guarantee of future returns.
