The events that took place on September 11, 2001 have been described as unprecedented. Thousands of innocent people lost their lives for no apparent reason. Emotions have run high since that day. The media has reported stories of sadness, horror and fear on the one hand and anger, hatred and revenge on the other.

You may be asking yourself if your previous financial plan is still valid. You may also be wondering if you should be making adjustments in light of the recent events. These are valid questions and they should be addressed.

Consider whether your current financial strategy is sound. Long term savings should weather the current storm if given enough time. We know that previous world crises had an immediate negative impact on stock market values. We also know that these events did pass and stock market values returned to provide financial reward to those who were patient.

Savings that have a short term time horizon should be reviewed for liquidity and safety. Recent events may cause you to experience a short term set back. You may want to formulate contingency plans.

Make your financial decisions with good judgement. Try to avoid decisions based on fear and speculation. A well diversified and a high quality portfolio with a long term objective has provided real wealth to investors in the past. We see no reason that this will not happen in the future.

This has been a terrible tragedy. It would be a shame to see a repeat of the events of September 11, 2001. We must now encourage our leaders to make their decisions based on reason, rather than an emotional reaction to the recent events.

This is a monthly article on financial planning. Call or write to Rick Sutherland CLU, CFP, FDS, R.F.P., of Fundex Investments with your topics of interest at 798-2421 or E-mail at rick@invested-interest.ca.