fbpx Here's our thoughts on what 2022 will bring - Imak
a a a a a a a
Imak logo

Here’s our thoughts on what 2022 will bring

Happy New Year

Firstly, it’s our hope you had a safe break and were able to spend time with those you love, building yourself back up, given the year that was 2021.

If you own a business or are involved with creating cashflow forecasts, I expect you would have found it a tricky year to travel through. How was it for you?

2022 drawn in sand

So, what can we expect from 2022?

As we look ahead, I bet, like us you’re wondering just what might happen in 2022.

Fortunately, just after Christmas, The Economist shared a few predictions. We thought you might appreciate some of them…

    ⬇️   Unlikely

  • West Side Story wins best picture Oscar
  • Global air travel is above pre-pandemic level by June
  • Israel and Palestine hold peace talks.

    ⬆️   Likely

  • Omicron will still be the dominant variant by the end of year — 44% likelihood. (No sh#t!)
  • Bitcoin price ends year above $70k, up from $50k today — 40% likelihood. (Imak Advice Limited has no view, opinion or advice on this).

There are a couple of others in the list that you may enjoy, along with a bunch of views on US politics, UK politics, and the Winter Olympics. You can explore the whole list at The Economist. You may also like to see the thoughts from Larry Fink of BlackRock.

2022 predicted by cards

What are Imak’s Predictions for 2022?

☑️   1. Income Protection may get harder to secure for the self-employed.

There are some excellent covers available now, but some insurers are signaling change and I expect we’ll see this by year-end. Insurers will not change that which is in force now.

☑️   2. Covid vaccinations may become a “thing” for new insurance applications.

There is a feel creeping through from re-insurers (they are insurance company suppliers). The feeling is that, given the global implications of Covid, pricing may be impacted on new applications and questions about vaccination will be asked. I remember this happening with HIV when it emerged.

☑️   3. Demand will lower for face-to-face meetings with your Financial Advisers.

More of us became used to online meetings in 2021. Here at Imak Advice, we found many clients were happy to meet online in the last quarter of last year. If this suits you, we can keep working this way. If you are like me (a bit old fashioned), we can happily arrange face-to-face meetings. All our staff are double vaccinated.

☑️   4. Returning Kiwis will benefit from good, local advice.

Many Kiwis will be returning home to live in New Zealand. They could benefit from the expertise of a Financial Adviser who understands their situation and the local system. If you know anyone who may need help, let us know.

☑️   5. Smart investments will count.

Investors will be keeping a close eye on their investments as interest rates rise, Covid hovers, and the US and UK continue to look a little wobbly. Climate Change is also becoming a larger issue for fund managers. Call us if you have questions about your investments.

☑️   6. Industry experience and genuine relationships will be more valuable than ever.

Many more experienced (mature!) Financial Advisers will retire and leave the industry as regulation tightens. There will be an influx of new trainees who will be younger and may or may not embrace the industry. This presents its own issues. It has been my experience over the years that this is a relationship business, not a transactional business and people like to deal with experienced operators.

What do you predict?

Whatever the year holds, it is our wish that you enjoy good health and hopefully time with those you cherish most. We’re also sending our thoughts to everyone whose overseas family and loved ones feel further away than ever.

If there is any way our Financial Advisers can help with insurance and or investment queries, please call us on 09 307 9300 or visit www.imak.co.nz.