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Clients of Principle First often tell us that they do not talk to their friends about their pension savings. They do not talk about their investments, and they do not talk about their financial plan.

This has surely changed over the last 2 years, with the recent recession. People are now more open with their finances, and are able to discuss their future with friends and colleagues.

Why the big change? Maybe it was because we now recognise our own rash behaviour. Everyone feels that the previous problems could have been avoided. Maybe we all know now that we were immoderate, we know that we expected too much, and, even while blowing into the bubble, we sensed that it would, one day, burst.

Will it happen again? Probably. However, there is a change, a change in society, a change in the way we think, a change in our self-confidence. We communicate better now, we listen to reason, we listen to each other. These traits were lost, during the recent boom. Discussion breeds information, information breeds knowledge, and knowledge equals more informed decisions.

Wouldn’t it be great if we talked to our friends about the risk we are taking with our pension, understanding that risk to be a positive aspect of our saving for retirement. Not talking about whether we should save, but talking with an understanding of the future, and the investment potential it may have; talking about our understanding of savings, investments, and other areas of financial planning. Wouldn’t it be great if there was a transparency in the financial services sector, where consumers understood as much as bankers and financial advisers?At Principle First, we believe our clients should understand everything we discuss with them. The financial services sector is portrayed as complicated, for many reasons. It isn’t complicated.

Over the next 3 years, social media, and the modern distribution of information will energise people to take a more active interest in financial planning than ever before. People will become passionate about understanding products, and the theory of what we need to do for our financial future, and the future of our children. This will be driven by the concern people have for green issues, biotechnology issues, and many other areas of emerging industry and society. These are exciting times. It isn’t just about the money, it is as much about peace of mind.

On a lighter note. Watch this short video . It is a television advert in Australia, demonstrating the need for professional financial advice. Make your own decisions. Enjoy!