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This is a quote that could be applied to many instances in life.

I mention this of course just as we crash out of the World Cup in Brazil! In comparison to previous years there does not seem to be much of the carnival atmosphere we might have expected. A wallchart appeared in the office at work and I have seen the odd “charismatic” driver with plastic flags on the car but it’s not been much of a frenzy!

As it turned out we were right to have low expectations! But let’s not sink into despair just yet, it looks like there are some excellent young players coming through so maybe there is hope for the future? But what do I know about football! I played a little when I was younger but that is about it. However, I am an expert in Financial Planning so let’s talk about that!

Since 2009 in the UK we have had historically low bank of England base rate paying just 0.50%. As a result of this most savings accounts including ISA’s have returned minimal returns. This no matter how you dress it up is near zero. The politicians and central bankers can sugar coat it all they like and arguably it has benefitted a lot of people over the past few years, particularly borrowers. It has certainly not benefitted the sensible members of society who have prepared well, lived within their means and relied on savings to either top up their income or just simply to have the knowledge that there was a nest egg in the background that was building for the future.

You may be forgiven for thinking why bother using my ISA allowance? Why bother seeking out the best rate, after all they are all as bad as each other! But use your ISA allowances today as you will then have the tax efficiency “wrapper” around the money for the rest of your life. After all interest rates will not stay low forever, if you continue to expect not a lot you may be pleasantly surprised.

As for England…. If they were one of my clients’ holdings right now I would definitely be advising to be sold at the earliest opportunity.

No doubt when the next big game comes round I’ll be shouting at the TV in despair. Once again I shall expect failure and anything else will be a success!

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