As we grow up and experience more of the world, we learn that a topic typically becomes more complicated as we dive deeper into it.
For example, supply and demand is a concept most of us can grasp quickly, but gaining a deep understanding of how these variables are affected by changes in interest rates, inflation and trade relations requires further study.
We also find that for those who delve deeper into any discipline, things eventually seem to simplify again.
The details fade away, and you unlearn some complexities that don't seem important, allowing you to distil the subject into a few key points that really matter.
True simplicity comes from a deep understanding and appreciation of the subject matter.
When shared, this simplicity enables the rest of us to make sense of the world without becoming an expert in every field.
Every great teacher or writer has this quality. Richard Feynman’s writing can make anyone appreciate the key lessons in physics, and even make you laugh. Who would have thought physics could be funny?
Complexity for its own sake
Unfortunately, too often we encounter complexity where simplicity is what we really need. In many cases, complexity is used to confuse, leaving the recipient with little understanding and keeping them reliant on the expert.
The financial industry is no different. Experts highlight the dismal level of financial literacy and advocate for financial education to be part of the school curriculum, but very few contribute to the necessary changes.
Most financial players are complicit in using complexity to spread fear and to maintain reliance on an industry that is content to sell products without ensuring buyers understand what they are getting into.
The media creates the crisis of the day (or fans the flames), while the financial machine stands ready with solutions that may have addressed previous crises but are unlikely to be suitable for the current challenge.
From the history of financial markets, we have learnt a few key lessons that will always apply. Once you approach every new crisis with this knowledge, the world becomes much simpler.
Simple is better
Money, too, can be simple if you want it to be.
If complexity is what you seek, then financial product providers will gladly give it to you. There's a product for every financial fear you may have.
However, starting here is likely to lead you astray. You must determine what these products mean for you and the lifestyle you wish to lead.
A true understanding of money allows you to build on your understanding of your own situation and the life you want to live.
A strategy can then be developed based on a simple comprehension of the concepts, such as spending less than you earn, investing for your unknown future, providing for short-term expenses, compound interest, historical market returns, and combining these with old-fashioned discipline and patience.
People often find this process easier when it is facilitated by a caring life financial planner who can educate, encourage and hold them accountable.
While products may be necessary, they should be placed in their proper context.
The choice is yours
We have a choice between simplicity and complexity in many aspects of life. Unfortunately, complexity is often perceived as clever and sophisticated.
It is easy to dismiss a simple strategy when a complex one can make you appear smart. However, with financial matters, nothing could be further from the truth.
The real tragedy is that many individuals are unaware that simplicity with money is an option. They accept the complexity sold to them, leading to feelings of being overwhelmed and a lack of understanding.
This often results in disengagement, which can have long-term consequences.
Our experience shows that simple and “done” is often better than complex and perfect. Clients who act and engage in their financial affairs gain a proper understanding of how their decisions will impact their long-term future.
Simplifying your plan to eliminate the unnecessary can be a beneficial approach.
Sam Instone is co-chief executive of wealth management company AES
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David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
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Director: Jean-Stephane Sauvaire
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Three stars
Analysis
Maros Sefcovic is juggling multiple international trade agreement files, but his message was clear when he spoke to The National on Wednesday.
The EU-UAE bilateral trade deal will be finalised soon, he said. It is in everyone’s interests to do so. Both sides want to move quickly and are in alignment. He said the UAE is a very important partner for the EU. It’s full speed ahead - and with some lofty ambitions - on the road to a free trade agreement.
We also talked about US-EU tariffs. He answered that both sides need to talk more and more often, but he is prepared to defend Europe's position and said diplomacy should be a guiding principle through the current moment.
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COMPANY%20PROFILE
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
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4pm: Maiden; Dh165,000 (Dirt); 1,400m
Winner: Solar Shower; William Lee (jockey); Helal Al Alawi (trainer)
4.35pm: Handicap; Dh165,000 (D); 2,000m
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5.10pm: Maiden; Dh165,000 (Turf); 1,800m
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5.45pm: Handicap; Dh175,000 (D); 1,200m
Winner: Beachcomber Bay; Richard Mullen; Satish Seemar
6.20pm: Handicap; Dh205,000 (T); 1,800m
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6.55pm: Handicap; Dh185,000 (D); 1,600m
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7.30pm: Handicap; Dh205,000 (T); 1,200m
Winner: Riflescope; Tadhg O’Shea; Satish Seemar.
UAE SQUAD
Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani
Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Salem Rashid, Mohammed Al Attas, Alhassan Saleh
Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Yahya Nader, Ahmed Barman, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah, Yahya Al Ghassani
Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri
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MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
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Rating: 4/5
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MATCH INFO
Manchester City 4 (Gundogan 8' (P), Bernardo Silva 19', Jesus 72', 75')
Fulham 0
Red cards: Tim Ream (Fulham)
Man of the Match: Gabriel Jesus (Manchester City)
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2015: Golden State bt Cleveland 4-2
2014: San Antonio bt Miami 4-1
2013: Miami bt San Antonio 4-3
2012: Miami bt Oklahoma City 4-1
2011: Dallas bt Miami 4-2
2010: Los Angeles Lakers bt Boston 4-3
2009: Los Angeles Lakers bt Orlando 4-1
2008: Boston bt Los Angeles Lakers 4-2
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BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
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The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
