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
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Teaching in coronavirus times
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Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Meydan race card
6.30pm: Baniyas (PA) Group 2 Dh125,000 (Dirt) 1,400m
7.05pm: Maiden (TB) Dh165,000 (D) 1,200m
7.40pm: Maiden (TB) Dh165,000 (D) 1,400m
8.15pm: Handicap (TB) Dh170,000 (D) 1,900m
8.50pm: Rated Conditions (TB) Dh240,000 (D) 1,600m
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Killing of Qassem Suleimani
Killing of Qassem Suleimani
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The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Squads
Pakistan: Sarfaraz Ahmed (c), Babar Azam (vc), Abid Ali, Asif Ali, Fakhar Zaman, Haris Sohail, Mohammad Hasnain, Iftikhar Ahmed, Imad Wasim, Mohammad Amir, Mohammad Nawaz, Mohammad Rizwan, Shadab Khan, Usman Shinwari, Wahab Riaz
Sri Lanka: Lahiru Thirimanne (c), Danushka Gunathilaka, Sadeera Samarawickrama, Avishka Fernando, Oshada Fernando, Shehan Jayasuriya, Dasun Shanaka, Minod Bhanuka, Angelo Perera, Wanindu Hasaranga, Lakshan Sandakan, Nuwan Pradeep, Isuru Udana, Kasun Rajitha, Lahiru Kumara
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Essentials
The flights
Whether you trek after mountain gorillas in Rwanda, Uganda or the Congo, the most convenient international airport is in Rwanda’s capital city, Kigali. There are direct flights from Dubai a couple of days a week with RwandAir. Otherwise, an indirect route is available via Nairobi with Kenya Airways. Flydubai flies to Kinshasa in the Democratic Republic of Congo, via Entebbe in Uganda. Expect to pay from US$350 (Dh1,286) return, including taxes.
The tours
Superb ape-watching tours that take in all three gorilla countries mentioned above are run by Natural World Safaris. In September, the company will be operating a unique Ugandan ape safari guided by well-known primatologist Ben Garrod.
In the Democratic Republic of Congo, local operator Kivu Travel can organise pretty much any kind of safari throughout the Virunga National Park and elsewhere in eastern Congo.
