We frequently speak with people who’ve been led to understand that they need to understand the markets or how the economy in order to grow their wealth. Whilst these elements are certainly foundational factors in financial planning, they are often not the root of what holds us back from financial security.

Often, the most important thing you need to master is your own mind.

Don’t fall into the trap of spending tons of time trying to predict what the market will do next. The truth is, the greatest risk to your wealth isn't a market crash. The greatest risk is often human nature.

It is the urge to sell in a panic, or buy, in a state of greed. It’s the urge to cancel risk cover in order to bolster investments. We’ve seen this many times with our clients at Succession Financial Planning.

You are the rational anchor of your financial plan. While we cannot control the changing seasons of the global economy, we can control our reactions to them. Recognising your own behavioural triggers—knowing when you are acting out of fear rather than wisdom—is the ultimate financial superpower.

When you feel the sudden urge to make a drastic financial change, wait 48 hours. Give your logic time to catch up with your fears.