The Confidence Game
I used to be decisive with money, but now I’m not so sure. This is partly the cynicism of mid-life, partly the challenge of the present global ghastliness. Financial planning is all about confidence in the future. If we commit to large mortgage repayments or pension contributions, we’re making a bet that we’ll be able honour those commitments over the long term: “In 10 years’ time, I’ll definitely be able to afford £1,500 each month”. Given the uncertainty surrounding just about everything, is this realistic? How do we overcome the problem of making long-term financial decisions when the future is so uncertain? ...