Do You Know What Tomorrow Will Bring?

I've been sharing the following idea with people for a few years now, and realized recently that I had never written specifically about it. So here it is:

"I cannot predict the future."

That may seem simple enough, and it's certainly accurate, yet for many advisors, this edict is completely disregarded. How many times have you heard someone say, "I know," when what they really meant was, "I guess?" In stating that I cannot predict the future, my intention is not to appear pessimistic. On the contrary, I agree with what Roosevelt had to say about the issue; "The only limit to our realization of tomorrow will be our doubts of today." I therefore believe that we can accomplish just about anything. Nevertheless, believing anything is possible is far more grounded in reality than believing that I could know, with any precision, how everything will ultimately unfold. And so with that much clear, I would like to share what I do not know about our collective financial futures.

I do not know which segment of the market will outperform all others during this year, or any year.

I do not know if this year's equity market will be up, down, volatile, or stagnant.

I do not know what our tax system will look like in ten, twenty, or thirty years.

I do not know what the rate of inflation will be, or what the rise in housing will be, or college tuition, or gas, or bottled water.

I do not know if age expectancies will continue to increase or begin to decrease.

I do not know how the United States will fare in competition with the rapidly developing markets of other nations.

While it may appear that I don't know much, here's what I do know:

I can presume, in a careful manner, certain long-term expectations. And if I am successful in helping my clients understand and appreciate those expectations, I would hope to maximize their full financial potential.

I am able (and willing) to respond to change. Ask any advisor who's been doing it for fifty years what he thinks about change, and he's likely to tell you his way is the best way, always was, and always will be.

I believe there is a close-to-perfect approach to meeting the goals of each client, and I spend great effort, in every instance, to find out what that is. Each individual, each family, each small business owner has their own attributes, and I am ever-present to the notion of finding a common ground. I always attempt to write about topics that transcend finance. Money is allegorical-how you save and spend both your time and your energy will often correlate with how you manage your finances. What I do not know about the future therefore also transcends economics, and so I approach everything with an open mind. Do you?

© 2005 Matthew S. Clement, All rights reserved

Matthew S. Clement is a financial planner and investment advisor representative with Financial Network Investment Corporation, member SIPC. He provides holistic wealth management and retirement planning to individuals and businesses. He can be reached in New York at (845) 942-8578, or by email: [email protected].

In The News:

The video gamer’s guide to personal finance  The HinduA personal finance blogger on why unlocking the next level is good motivation when it comes to your finances.
Weekend catchup — this week’s personal finance headlines  Financial TimesViagogo warning, inflation rising, new workplace pensions.
Celebrate Money Smart Week | Smart Change: Personal Finance  Journal TimesMoneyTipsAre you financially literate? How about your kids? MoneyTips can help, but there may be something special soon going on in your neighborhood to ...
Got goals? These simple actions will help you get the things you want  CNBCEveryone's got money goals. We want houses, vacations, healthy bank accounts — the things that make life worth living. You probably know people with great ...
PERSONAL FINANCE MANAGEMENT: How banks should use personalized services to increase customer satisfaction and  Business Insider IndiaThe ability to conduct banking activities via a sleek mobile app is no longer enough to satisfy consumers - it's table stakes.Banks need to focus on deploying.
This Financial Pop-Up Is Changing The Personal Finance World For Young Female Investors  ForbesPersonal finance expert Farnoosh Torabi is launching a pop-up called Stacks House to create an interactive experience for women and money. Her goal is to ...
Fintech sector cant deliver if data is kept personal: Finance Secy Garg  Business StandardIt will not be possible for the digital and fintech industry to deliver its services if financial data is kept personal, said Subhash Chandra Garg, Economic Affairs ...
How Fintech Startup Basis Is Looking To Change Personal Finance For Women  Inc42 MediaOnly 3% of Indians invest in the stock market, and almost all of them are men. Basis received the SEBI Registered Investment Advisor (RIA) license recently on ...
13 Ways To Prevent Credit Card Fraud | Smart Change: Personal Finance  Helena Independent RecordMoneyTipsYou've taken steps to avoid identity theft, and maybe even applied a credit freeze to your credit report. You can sit back and relax, right?Wrong.
Thursday's personal finance stories  MarketWatchA record number of Americans now have access to a credit card — and it's not going great and one big reason to move your family out of certain cities — and ...
Personal Finance Show: Attractive Asian dividends and high yield from clean profits  Investors ChronicleIn this week's show Udit Garg, head of wealth management at Sun Global Investments, explains why Asia has become a better area for equity income, and ...
Know Your Money: Read these bestselling Personal Finance books  Zee BusinessWant to become rich fast? Well everyone wants to be one but sadly there is no way to become a billionaire overnight. Becoming financially sound requires hard ...
Personal Finance Queries For The Day (04-03-2019)  Outlook IndiaPersonal finance queries responded by industry & subject-matter experts.
7 Best Personal Finance Tips For 2019  ForbesThese are the best personal finance moves for 2019.
What Does "Cutting Social Security" Actually Entail?  Helena Independent RecordCutting program expenditures probably doesn't mean what you think it does.
Money Girl on Personal Finance  Motley FoolLaura Adams of the award-winning "Money Girl" podcast comes on the show to talk about financial literacy, podcasts of yore, and more.
Choosing between simple and complex personal finance apps  Born2InvestWhen people hear the word “budgeting” or “personal finance management,” they don't exactly think of it as a fun activity. But at the same time, many people also ...
Some parents offer bribes to get their kids into the best summer camps and the incentive that actually gets workers to stick with a wellness program  MarketWatchHappy Friday, MarketWatchers. Don't miss these top stories: Personal Finance. Weekend roundup: Taking on real-estate agents' 6% commission | Having a ...
Personal Finance Queries For The Day (25-02-2019)  Outlook IndiaPersonal finance queries responded by industry & subject-matter experts.
5 personal finance and investing apps worth a download  MicWouldn't it be nice if we could all just have a personal money manager who helped us budget, save for the future, deal with taxes, and all the other head-swirling ...
18 Quotes on Money and Personal Finance (That Can Make You Rich in More Ways Than One)  Inc.There's more to true wealth than just money -- much more.
Your Rights As An Identity Theft Victim | Smart Change: Personal Finance  Helena Independent RecordMoneyTipsWould you know what to do if you discovered that you were a victim of identity theft? Given the massive data breaches over the last few years, ...
U.S. Consumer Comfort Rises as Personal Finance Outlook Improves  BloombergU.S. consumer expectations rose this week as a gauge of views approached a 17-year high, signaling improved sentiment after a five-week government ...
Elizabeth Warren wrote a book of personal finance advice. How does it hold up?  The Washington PostAs someone who has covered the personal finance industry for years, I like to say there are three schools of personal finance and investment writing. The first ...
Market linked debentures in favour again; should you invest?  Moneycontrol.comCARE Ratings expects issuances to increase to Rs 14000 crore by the end of this financial year.
Financial Advisors Industry News: Compliance, Retirement Planning, Personal Finance  Investor's Business DailyHow do you become a financial advisor? Or if you're already in the financial planning industry, what are the best ways to attract new clients and grow your ...
Penetration of financial products improving  LivemintGrowth rate in India is high, salaries are going up, and more and more millennials are willing to invest in MFs.Rahul Jain of Edelweiss, talks about the need of ...
What Is Financial Literacy and Why Does It Matter to Me?  TheStreet.comFinancial literacy is a hot-button issue as memories still linger over the Great Recession and as millions of baby boomers hit retirement age, and as a legion of ...
Why Theranos founder Elizabeth Holmes may have faked a low voice and how Apple convinced us that AirPods aren’t ridiculous (anymore)  MarketWatchHappy Thursday, MarketWatchers. Don't miss these top stories: Personal Finance. Why Theranos founder Elizabeth Holmes may have faked a low voice, ...
Spring Statement: What does it mean for your personal finances?  Financial TimesNo *fresh* policy announcements, but future consultations and forecast changes could have an impact.
PERSONAL FINANCE: How to deal with volatile markets as you approach retirement  The MercuryRetirement is an important milestone that often comes after years (or decades) of careful planning. For those who've saved diligently and are nearing the end of ...
FINANCIAL FREEDOM: From a South African asset management perspective  Independent OnlineWhile financial freedom may mean different things to different people, being debt-free; gaining financial independence; and feeling a sense of financial stability, ...
Personal finance app HyperJar preps for spring launch  Fintech FuturesLondon-based personal finance app HyperJar is getting hyped up for its launch this spring.
'Unfiltered: Duran + Kitces': Personal Finance Industry Leaders Get Real in New Podcast  Business WireNEWPORT BEACH, Calif.--(BUSINESS WIRE)--United Capital Financial Advisers LLC (“United Capital”), the country's first and largest financial life management ...
Personal finance a taboo subject in health care  Medical XpressLisa Engel never had an interest in finance and did not see it becoming part of her career in health care. But that changed about 10 years ago when she worked ...
Debt consolidation can be a delusion  Royal GazetteDear Dave,I've heard you tell people to avoid debt consolidation companies. Why do you think debt consolidation is such a bad thing?- TomDear Tom,The main ...
For LGBTQ people, personal finance can be extra stressful  Marketplace APMWhen it comes to the economy, parts of your identity, such as gender, race or sexual orientation can impact how you feel. A new project from WNYC studios' ...
Federal budget 2019: Eight ways the budget will affect your personal finances  The Globe and MailThe federal budget doubles down on help for first-time homebuyers, but it also sets its sights on students, environmentally minded car buyers, low-income ...
The Surprising Reason You Should Cut Your Rewards Card Into Tiny Pieces  ForbesIf you're looking for a reason to cut your up your rewards card, talk to Patricia Newman. She contacted me after signing up for a United MileagePlus credit card, ...
Finance Bill 2019 becomes Act: President okays interim Budget 2019  Economic TimesThe interim budget 2019 finance bill has been assented to by the President on February 21 thereby making it an Act. This means that the proposals in the ...
How to Make Your Finances More Flexible Before the Next Recession  LifehackerThe U.S. economy has more or less been in expansion mode since the Great Recession of 2009, but expansions don't last forever. While no one can say with ...
This book about how to get rich sold more than 32 million copies—here are 5 essential lessons you need to know  CNBCIf you've ever searched on Google "best personal finance books to read," you've most likely seen the title "Rich Dad, Poor Dad" appear at the very top. The book ...
Dennis Publishing acquires Kiplinger's Personal Finance magazine  New York Post British media company Dennis Publishing is on the prowl for US titles to add to its growing media collection, Media Ink has learned. Dennis, which owns The ...
4 Simple Ways to Reduce Your Taxes  Montana StandardIf there's one thing everyone can agree on about taxes other than their inevitability, it's that they want to pay as little as possible. The government mandates how ...
International Personal Finance plc (IPF) Plunged -1.44% on Mar 22  The EN BulletinShares of International Personal Finance plc (LON:IPF) last traded at 185.4, representing a move of -1.44%, or -2.7 per share, on volume of 39261 shares.
Personal Finance Show: How to get gold and top trusts for dividends  Investors ChronicleHow to invest in gold, top trusts for dividends and assessing the best income payers.
Experts Answer Eight Crucial Personal Finance Questions  Willamette WeekAs the saying goes, "More money, more problems." Of course, the problems encountered by, say, a super-rich rapper are different from those of average office ...
How I Get It Done: Money Expert Farnoosh Torabi Splurges on a Personal Stylist  The CutFarnoosh Torabi, the host of So Money podcast, talks about being a breadwinner, splitting finances with her husband, and teaching her kids about money.
Want to live in a big US city? Here's what you need to earn  Fox BusinessCalifornia's big cities have some of the most expensive homes.
Personal Finance Show: Get the best from your Isa and think small to boost growth  Investors ChronicleThe team discuss how to get the most from your Isa, thinking small to boost growth and electrifying gains.
9 Red Flags You're Making a Bad Financial Decision  U.S News & World Report MoneyAvoid making a spending decision you'll regret by looking for telltale signs, such as feeling panicked or rationalizing expenses to friends and relatives.
East China Student wins $20k from personal finance competition  Port Huron Times HeraldStudents had to select phone plans, pay bills, make budgets and more.
Personal finance expert Jean Chatzky warns women: 'We are sabotaging our financial security'  Yahoo FinanceOn the eve of International Women's Day, personal finance journalist Jean Chatzky says she worries about a paradox at the heart of women's investing habits: ...
RAND AND SENSE: 8 questions for your financial planner  Independent OnlineMismanaging money can be devastating to your financial status and your future, and financial planners can offer a holistic approach to money matters.
Personal Finance: Canadian Millennials show significant interest in using 'robo-advisors' in the future  Angus Reid InstituteMarch 1, 2019 – Canadians may not be saving as much as economists would like, but those who invest are doing so in a changing landscape. A new study from ...
The dark side of helicopter parenting and U.S. corporate leaders are getting worried about a recession  MarketWatchHappy Friday, MarketWatchers. Don't miss these top stories: Personal Finance. Sorry, but that $1,100 standing desk won't make you thinner. An analysis of ...
Personal Finance Show: The best access to property and what to do with Woodford  Investors ChronicleDavid Liddell, chief executive of online investment *service* IpsoFacto Investor, weighs up the merits of UK commercial property and the best ways to access it.
Case activity for Personal Finance Company LLC vs Amanda J. Smith on March 21  St. Louis RecordThe St. Louis 22nd Judicial Circuit Court reported the following activities in the suit brought by Personal Finance Company LLC against Amanda J. Smith on ...
The right credit card could be the right financial move in 2019  Bankrate.comFrom rewards to debt management to credit-building, getting the right credit card could be the best financial decision you make this year.
Personal Finance Show: Going for gold and targeting the world's best dividends  Investors ChronicleIn this week's show Shaniel Ramjee, multi-asset manager at Pictet Asset Management, considers how good gold is as a defensive asset and whether it is worth ...
Your money: Passing on assets can backfire  ExpressLOCAL authorities are issuing demands for tens of thousands of pounds from families who have given their wealth away in a bid to qualify for help with elderly ...
Walmart vs. Costco vs. Canadian Tire  The Globe and MailDo you have a go-to retail chain for buying household basics? I do not. I use a mental algorithm to pick a store based on expected cost, distance from home and ...
WATCH: What the budget means for personal finance  Business DayOld Mutual's head of financial education, John Manyike, talks to Business Day TV about the 2019/2020 budget.
PERSONAL FINANCE: How to evaluate your business idea  Daily NationYour business idea must be based on what customers are saying.
The best financial apps to help UAE residents manage their money  The NationalFrom banking to budgeting tools and tricks to split the bills with your friends, download these applications today.
Become a loan ranger in market  Independent.ieWith some mortgage lenders already reporting 'exemption' limits reached on loans over and above normal credit limits, and it's still only March, demand certainly ...
Have Your Toast and Get Rich Too: A Realistic Guide to Personal Finance  Willamette WeekIt's not a conversation anyone likes to have, especially in Portland. It's bad enough to live in a city where the cost of living keeps rising while wages stagnate and ...
SC ruling on PF could mean windfall gains for some employees: Here's why  Economic TimesBy Puneet Gupta The recent Supreme Court ruling expanding the scope of 'basic wages' for calculation of employee provident fund contributions is likely to ...
Old Mutual mulls changes to personal finance business after profit decline  Business DayOld Mutual's share price fell to its lowest level in six months as the group missed its full-year operational targets in its first set of results as a standalone entity ...
Economic Inequality: What It Is and How It Impacts You  U.S. News & World ReportThere are steps Americans can take to fight economic inequality in their personal lives and communities.
'Passive investments will be a game-changer in mutual funds industry'  Moneycontrol.comPassive investments are those which do not depend on the capabilities of a fund manager, to pick up investment candidates.
Retirement planning for age-gap couples  Independent OnlinePlanning for retirement is tough enough for couples who are of equal age. Couples whose ages differ face additional hurdles, writes Mark Bechard.
BNP Paribas Personal Finance partners with DealTrak to continue expansion of UK auto finance services  Asset Finance InternationalBNP Paribas Personal Finance has agreed a new partnership with finance software platform DealTrak. The platform has access to 1,100 UK dealerships and is ...
Could charitable giving become a tax law casualty?  CNBCPeople don't necessarily give to charity because of tax benefits, but it doesn't hurt. However, the new tax law, among other things, has eliminated or sharply ...
Westpac quitting personal financial advice, 900 jobs could go  NEWS.com.auWestpac is selling its personal financial advice business as Australia's second-biggest bank exits the scandal-hit sector.
Federal budget 2019: Liberals offer some help in resolving one of the country's biggest personal-finance challenges  The Globe and MailThe Liberal government has produced a full life-cycle budget – help for students, for young home buyers, for Gen Xers thinking about buying electric cars and for ...
Should a cat be your next investment adviser?  Dallas NewsI've been using a powerful investment app for financial planners called The Big Picture. It's a great tool for exploring the biggest concerns most...
Pension CRISIS: How would the UK solve a retirement TIME-BOMB?  ExpressPENSION savers are being caught short by not saving enough to retire comfortably, but does the UK have the capability to solve a pensions crisis?
How the GST rate reduction will impact property prices  LivemintIn its 33rd meeting held on 24 February 2019, the Goods and *Service* Tax (GST) Council recommended rationalisation of GST rates on real estate. The cut is in ...
OPINION: Tax residency and financial emigration: Not everyone is an expert!  Independent OnlineThe process of “Financial Emigration” terminates your tax residency status with the South African Revenue *Service* (“SARS”) as well as your status as exchange ...
PERSONAL FINANCE: How to overcome the fear of failure  Daily NationThe worst advice ever is to tell someone or to be told not to be afraid. My four-year-old son is learning how to swim. I took him for his lessons one afternoon and I ...
Fed holds rates steady. Here's what that means for you  CNBCThe Federal Reserve's decision Wednesday to keep interest rates steady came as a relief to many investors. And that trend may continue. The Fed also ...
House Democrats target Trump's personal finances  POLITICOWhy did Deutsche Bank lend money to Trump business when others refused?
What to ask before you sign that lease  Independent OnlineOne of SA's biggest apartment developers has just set up a subsidiary company that will acquire and rent out many of the units it is building, and if more follow ...
Pension BOOST for MILLIONS: New scheme to INCREASE retirement pots launched TODAY  ExpressA NEW type of pension scheme which could benefit the retirement income of millions of people has been rubber-stamped by Work and Pensions Secretary ...
Trump administration expands penalty relief for Americans who underpaid taxes  Fox BusinessThe Internal Revenue *Service* (IRS Opens a New Window. ) is waiving the underpayment penalty for more Americans who may have unintentionally underpaid ...
How healthy are your personal finances? Take this quiz to find out  Economic TimesAre you doing everything right for your personal finance? With the new Budget in place, it is a good time to check the health of your finances with this quick quiz.
PERSONAL FINANCE: How to buy, sell shares in stock market  Daily NationThe basics of selling and buying shares in the Nairobi Securities Exchange.
Why you can't get personal finance advice only by reading articles  Economic TimesWhen it comes to personal finance, there is really nothing new to say. What we discuss here are mere snippets of interpretative intelligence.
Overcoming debt and finding financial freedom in 2019  Independent OnlineThe latest Momentum/Unisa Consumer Financial Vulnerability Index shows a worsening trend across all indicators of financial vulnerability.
Benefits and schemes the financial sector offers for women  LivemintWomen, typically, have to pay lower life insurance premiums than men because of their longer lifespans.The financial sector offers certain benefits and schemes ...
The future of financial advice is forked  The Australian Financial ReviewThe old model of financial advice is crumbling leaving those seeking help with two options. One of them is a robot and the other might be out of your reach.
How strategic personal finance management can help pick the most suitable investments for you  Economic TimesBeing in charge of our wealth is to stay focused on what we want our money to do for us and driving decisions in that direction in a disciplined manner.
How to budget and manage your debt  Independent OnlineHow to manage your debt, In many respects, means better financial planning, managing your spending better and of course savings.
The emerging threat to personal finances in a cashless world: Paying with plastic doesn’t feel as painful as cash  The Globe and MailIt hurts to buy things with physical money, meaning we likely value such purchases more than those made with credit cards.
Thousands are warned to upgrade after taking out 'useless' health insurance  Independent.ieThousands of people who took out basic health insurance plans to avoid policy loadings have been warned that their cover is next to useless.
Thwarting the Robocaller Invasion  Kiplinger's Personal FinanceConsumers have an array of weapons at their disposal in the fight to help keep those infuriating interruptions at bay.
Thousands unaware of property-related tax reliefs which can save money and help ease housing crisis  Independent.ieThousands of people are missing out on housing-related tax relief.
Peer-to-peer lending: look beyond the headline rates  Financial TimesReaders of this column are savvy savers. I'd like to think that you would be able to tell the difference between interest on a savings account, and the interest ...
PERSONAL FINANCE: Why you need a lifestyle audit  Daily NationThings show up in lifestyle no matter how much we want to hide them.

Photo Checks ? A Great Alternative in Checking

It's the little things in life that make it interesting.... Read More

Saving Money - The Magic 20 Percent

Saving money is not easy and is made more difficult... Read More

How to Draw a Personal Budget that Works

Many people spend their little income haphazardly without any planning... Read More

Live Green; Save Green!

Have you seen the recent article on a new "green"... Read More

Vesting and Your 401(k)

Do you have a 401(k) retirement account? Are you vested... Read More

Developing a budget? Watch out for Those Budget-Bursting Gremlins

If you've developed a household budget to get your spending... Read More

Dramatically Improve Your Stock Trading Success

Get Access to Realistic profitable strategies & discover the mindset... Read More

Knowing Me, Knowing You: Why ID Protection Plans Are Flawed For Fraud

ID theft is a major consumer concern, though there is... Read More

Your Dry Cleaner?s Double Standard

Women are charged more for dry cleaning services. Don't fume,... Read More

Affording a Home

Can you really afford a house? If so, how much... Read More

What is a Traditional IRA?

With a traditional Investment Retirement Account (IRA) you pay taxes... Read More

Roth IRA Contributions - IRS Rules

Confused about whether you can contribute to a Roth IRA?... Read More

More Money? My Cup Runneth Over...But Im Still Thirsty

Most of us, especially those of us who have debtor's... Read More

Budgeting -- The Critical Flaw That Causes Most Budgets to Fail

Budgeting. It's a word we're all familiar with. Everyone knows... Read More

10 Tips to Make Sure Your Financial Budget Will Succeed

You've analyzed your past expenses, put them into spreadsheets, loaded... Read More

How To Place an Online Order for Checks ? It is Easy as 1-2-3

If You Have an Existing Account and 5 Minutes, You... Read More

Save Money Off Your Home Utility Bills

Many don't realize that our basic utility bills provide the... Read More

10 Steps to Take if You Are a Victim of Identity Theft

There have been an estimated 9.9 million victims on America... Read More

Are You Ready To Be Fired?

Your boss has just informed you that your department is... Read More

Save Money on your Clothing Budget. Tame the Closet Monster!

Reducing the clothing budget was a serious challenge for me.... Read More

I Want to Buy a Home - Now What?

If you were to ask 100 women "What would you... Read More

Money Matters - Really!

One of the biggest challenges facing black RELATIONSHIPS today are... Read More

The Benefits of Banking Online

How many drawers did you have to look through to... Read More

Budgeting Before Buying

With interest rates being at an all-time low, I can... Read More

How to Attain Your Dreams on a Single Income

If you recently became a single parent and see your... Read More