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Malvern Bank’s "Money Matters"

Money Matters: Known Unknowns

January 21, 2022

Hello,

With all the speculation around what this year will bring, including the effects of inflation and an ongoing pandemic, whether markets will continue to soar, along with predicting when the Fed may raise interest rates (and how many times), a quote from the late Donald Rumsfeld, former U.S. Secretary of Defense, comes to mind:"

"There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don't know. But there are also unknown unknowns. There are things we don't know we don't know."

I find this quote from Secretary Rumsfeld to be instructive when it comes to reaching our long-term financial goals. When it comes to planning for your financial future...

  • What do you know already (known knowns)?
  • Are you conscious of what you are not exploring (unknown unknowns)?
  • What about your biases and unconscious decisions (unknown knowns)?

The idea of "known unknowns" can be particularly helpful in forming your financial strategy. As this year unfolds and we move into a potentially volatile time in the economy, we at Malvern Bank can help you examine your goals and adjust if needed as conditions change to keep you on track.

I highly recommend Sally Lawson, Malvern's Senior Investment Officer, as a resource for you. She and her team are constantly thinking about investing "knowns and unknowns" and they can help you prepare for a financial future that is more predictable! You can reach Sally at 610.695.3651.

Here are some insightful articles to get you started. I'd love to know what you think. Let's keep in touch.

Sincerely,

Anthony C. Weagley
President & CEO
Malvern Bank, National Association
Beyond Your Expectations ™
Office : 610.644.9400

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