1981: Chariots of Fire – Hudson

This is the final part of my 10 point list for investors.

#9.Security

OK, we all know about the chaos that G4S have had with aspects of providing security staff for London 2012. It is a sad reality of life today that we even need security, but we do. The event organisers obviously want both athletes and spectators to enjoy the Games safely. This means spending money on things to reduce the impact of risk, but hope that the expense is actually wasted. We don’t want the security systems to be needed, we don’t want a disaster. Financial planning means also reflecting on the risks that you face to your future. This can be obvious things such as being unable to earn due to illness or loss of a job. These risks need to be identified, quantified and adequately met.

#10.Olympic Tickets

Many people may have been disappointed not to get Olympic tickets. Whilst the system has had its critics, tickets are something that can be traded and can be bought at the right price. Of course you could simply watch your television. Whilst the price of tickets will vary, there is something that each ticket includes. You won’t see it printed on the ticket, but it’s there, it is a factor of the price, at least if the organisers have done their planning properly it will be. The price will include provision for pension benefits. I know you cannot see it, but its there. Much like your airline ticket price, there is an allocation towards the pilot’s pension fund. It’s priced in. One of the most important lessons of financial planning is to pay yourself first, not with what is left over. By pay yourself, I mean set funds aside for your future. Hey, even the Government figured out that it is best to collect tax before you get your hands on your money, otherwise you will spend it (by you I mean the collective you, which includes us all). A financial plan needs to be automatic and properly priced, so that the “sacrifices” you make are largely unseen. We will witness Olympians competing and performing, but we haven’t witnessed the years of training, blood, sweat and tears that went into that moment. Remember that the picture you see is the final edited version, not the full story.

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