By Chris Carlin from Glasshouse Wealth
I think it’s fair to say that whatever plans you had for 2026 have been well and truly chucked out the window.
While this year hasn’t been as disruptive as COVID in 2020, it has certainly been a year where things haven’t gone to plan.
Few would have predicted three rate rises (most experts were suggesting three rate cuts!) and a RBA cash rate now back at 4.35%.
Fuel prices have surged, with petrol well into the $2 range and diesel pushing into the $3s in some areas, and that is flowing through to everyday costs from food and freight to building materials and infrastructure.
And that’s before we even factor in the Federal Budget on Tuesday 12th May, which has already flagged potential changes around negative gearing, capital gains tax and trust distributions.
It has been a challenging environment for households, investors and businesses.
But this is why I strongly believe that once-off advice NEVER works.
Your situation changes. Markets change. Legislation changes. The only constant is change, and your plan needs to evolve with it.
This is why our financial plans are written on paper, not in stone.
A common concern I hear is around superannuation: “What if the rules change?” It’s a fair point.
But rules can change across every area of wealth creation. Property investors may be feeling that right now with potential policy shifts.
So what’s the alternative? Sit on your hands and hold everything in cash? There hasn’t been a time in modern history where that has been a viable long-term plan.
There is no perfect, set-and-forget strategy.
You can get frustrated with politicians, scroll social media, dive into Reddit forums or shout at the rain. But none of that replaces having a plan, a team, and the flexibility to adjust when circumstances change.
Right now, many successful people are reviewing their strategies with advisers, accountants and brokers.
The question is: what are you doing?
To book a chat, visit glasshousewealth.com.au.
