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I read with concern, an article in the Financial Review and also on a Foxtel Fareed Zakaia GPS show, that since it has now been 10 years since the GFC that the world governments and economies are not likely to be able to come together to work out a plan of attack like they did with the G20 should there be another financial crisis.
There is also a lot of talk about a possible world depression bigger than the biggest the world has seen.
My SMSF is 90% invested in ASX and US listed shares and 10% in Cash. I’m 60 in January and although I believe I will continue to work until at least 67 albeit part time, I’m conflicted as to what to do now, if anything.
I’d appreciate your thoughts.
A: There are several doomsayers out there.
In the Australian media, you only seem to get coverage if you predict “the end of the world’ is near.
They will be right one day, but we don’t agree with their prognosis.
If you are worried about your exposure and market risk, then suggest that you reduce your growth assets and increase your ‘capital stable’ assets such as fixed income and cash. It is not the call I would make for my portfolio, but I don’t share your concerns about an imminent financial crisis or world depression.
