Is uncertainty the new normal?<\/h3>\n\n\n\n![\"Line](\"https:\/\/www.rbcwealthmanagement.com\/en-eu\/wp-content\/uploads\/sites\/9\/2025\/11\/is-uncertainty-the-new-normal-1380x660-1.jpg?w=1024\")
<\/figure>\n\n\n\nNote: The World Uncertainty Index (WUI) is computed by counting the percent of the word \u2018uncertain\u2019 (or its variant) in the Economist Intelligence Unit (EIU) country reports. The WUI is then rescaled by multiplying by 1,000,000. A higher number means higher uncertainty and vice versa. For example, an index of 200 corresponds to the word uncertainty accounting for 0.02 percent of all words, which \u2013<\/strong>\u00a0given the EIU reports are an average about 10,000 words long \u2013<\/strong>\u00a0means about two words per report.<\/strong><\/p>\n\n\n\nSuch uncertainty can cause anxiety and make it hard to plan your finances with confidence, leaving many people unsure what action to take and at risk of rushed decision-making.<\/p>\n\n\n\n
\u201cGiven the current landscape, it\u2019s natural to want to protect your finances and your future,\u201d says Alan Rodgers, director, wealth manager, at RBC Brewin Dolphin. \u201cHowever, we can\u2019t understate how people should avoid knee-jerk reactions and hasty decisions based on speculation and uncertainty \u2013 especially as this can have a negative impact on achieving your long-term goals.\u201d<\/p>\n\n\n\n
Taking a proactive, measured and pragmatic approach during uncertain times<\/a> can help create a resilient and flexible long-term plan that can override any speculation and short-term nerves.<\/p>\n\n\n\nHere are five practical ways to ease your concerns, take control and stay focused on your financial goals.<\/p>\n\n\n\n
1. Turn down the \u2018noise\u2019<\/h2>\n\n\n\n
With headlines about the Autumn Budget, trade tensions and AI dominating media coverage, it\u2019s easy to feel overwhelmed trying to figure out if and how your finances might be impacted. Constantly tuning in to financial speculation \u2013 especially when predictions are often contradictory \u2013 can lead to rushed decisions.<\/p>\n\n\n\n
For example, there was an expectation last year (which has resurfaced again) that the UK government would reduce the 25% tax-free pension lump sum or cut the higher-rate tax relief on pension contributions. Neither happened.<\/p>\n\n\n\n
Yet this speculation, along with the fact of the announcement that pensions would come in scope for inheritance tax (IHT)<\/a> from April 2027, triggered some people to make decisions that may not have been in their overall best interests. Data from the Financial Conduct Authority, for example, revealed that tax-free pension withdrawals in the six months to the end of March 2025 were 72% higher than the same period in 2024.2<\/sup><\/p>\n\n\n\nAs Shaz Bishop, director, wealth manager, at RBC Brewin Dolphin explains: \u201cin some cases, this may well have been an unwise decision and made without consideration for the wider wealth-planning picture. Constantly following the news and reading financial headlines can cause anxiety and confusion. Stepping away at times can help you remain focused on your longer-term goals.\u201d<\/p>\n\n\n\n
2. Focus on what\u2019s certain<\/h2>\n\n\n\n
While speculation dominates headlines, it\u2019s important to zero in on what we know for sure \u2013 facts, rather than rumours. This, says Bishop, creates a stronger starting point for planning.<\/p>\n\n\n\n
For instance, seeing as we actually know very little about what the Autumn Budget will include, we should focus on what we do know, such as:<\/p>\n\n\n\n
\n- From 6 April 2026, planned reforms to agricultural property relief (APR) and business property relief (BPR) will come into effect<\/li>\n\n\n\n
- From 6 April 2027, undrawn pension funds are expected to come into scope for IHT<\/li>\n<\/ul>\n\n\n\n
These are matters that can be planned for. \u201cWhile pension pots have typically been viewed as a retirement-planning tool, they\u2019ve increasingly been used for inheritance tax planning,\u201d says Bishop. \u201cBut with pensions expected to come into scope for IHT in 2027, it\u2019s important to have a conversation about your options now.\u201d<\/p>\n\n\n\n
3. Think long-term<\/h2>\n\n\n\n
A lot of our finances are interconnected. A decision in one area \u2013 such as withdrawing from your pension \u2013 can have knock-on effects on other areas, like retirement income<\/a> or tax liabilities, and influence the long-term strategy you have in place.<\/p>\n\n\n\nFor Bishop, when concerns arise \u2013 whether it\u2019s about the budget or market volatility \u2013 the first thing to do is go back to basics. \u201cA regular review of your wealth plan is crucial as it will reveal any changes to your financial circumstances, goals and objectives, and help ensure the plan you have in place will get you from A to B based on your situation and current legislation. Thinking about the bigger picture and the long-term position can help avoid rushing decisions that might throw that off course.\u201d<\/p>\n\n\n\n
4. Speak to your wealth manager<\/h2>\n\n\n\n
When you\u2019re worried about your financial position, the current market environment<\/a> or anxious about the headlines, your first port of call should be your wealth manager. They can:<\/p>\n\n\n\n\n- Help you understand how potential changes might affect your finances<\/li>\n\n\n\n
- Reassure you that your plan is aligned with your goals<\/li>\n\n\n\n
- Suggest adjustments to keep you on track<\/li>\n<\/ul>\n\n\n\n
\u201cYour wealth manager will be able to provide you with reassurance that your wealth plan<\/a> is fully aligned with the goals you have for yourself and your family, both during your lifetime and beyond,\u201d says Rodgers. \u201cAnd if changes are needed, they\u2019ll help you make those adjustments thoughtfully and effectively.\u201d<\/p>\n\n\n\n5. See uncertainty as an opportunity<\/h2>\n\n\n\n
Uncertainty can feel unsettling, but it\u2019s also an opportunity to refocus on what matters most. Working with your wealth manager now means you can be ready to adapt when change comes.<\/p>\n\n\n\n
The good news? Most changes, even those that feel significant, are usually manageable. What\u2019s more, being forced to take stock of your finances can provide peace of mind \u2013 giving you a plan to follow and the flexibility to make course corrections should things change.<\/p>\n\n\n\n
The bottom line<\/h2>\n\n\n\n
Uncertainty is part of life, but it doesn\u2019t have to derail your plans. Whether it\u2019s speculation about the Autumn Budget, global trade challenges or another factor making the headlines, staying focused on what you can control is key. If history has shown us anything, it\u2019s that speculation doesn\u2019t necessarily turn into fact.<\/p>\n\n\n\n
By stepping back, reviewing your goals and working with your wealth manager, you can confidently navigate whatever changes come your way \u2013 and help stay on track toward a more secure financial future.<\/p>\n\n\n\n
This article was originally published <\/em>on RBC Brewin Dolphin <\/a>.<\/p>\n\n\n\nSources:<\/p>\n\n\n\n
1.<\/sup> Ahir, Hites, et al. \u201cUncertainty about Uncertainty: Measures of Uncertainty Don\u2019t Quite Measure Up,” International Monetary Fund-F&D Magazine<\/em>, 3 Sept. 2025, www.imf.org\/en\/Publications\/fandd\/issues\/2025\/09\/uncertainty-about-uncertainty-nicholas-bloom <\/a>.<\/p>\n\n\n\n
<\/figure>\n\n\n\nNote: The World Uncertainty Index (WUI) is computed by counting the percent of the word \u2018uncertain\u2019 (or its variant) in the Economist Intelligence Unit (EIU) country reports. The WUI is then rescaled by multiplying by 1,000,000. A higher number means higher uncertainty and vice versa. For example, an index of 200 corresponds to the word uncertainty accounting for 0.02 percent of all words, which \u2013<\/strong>\u00a0given the EIU reports are an average about 10,000 words long \u2013<\/strong>\u00a0means about two words per report.<\/strong><\/p>\n\n\n\n Such uncertainty can cause anxiety and make it hard to plan your finances with confidence, leaving many people unsure what action to take and at risk of rushed decision-making.<\/p>\n\n\n\n \u201cGiven the current landscape, it\u2019s natural to want to protect your finances and your future,\u201d says Alan Rodgers, director, wealth manager, at RBC Brewin Dolphin. \u201cHowever, we can\u2019t understate how people should avoid knee-jerk reactions and hasty decisions based on speculation and uncertainty \u2013 especially as this can have a negative impact on achieving your long-term goals.\u201d<\/p>\n\n\n\n Taking a proactive, measured and pragmatic approach during uncertain times<\/a> can help create a resilient and flexible long-term plan that can override any speculation and short-term nerves.<\/p>\n\n\n\n Here are five practical ways to ease your concerns, take control and stay focused on your financial goals.<\/p>\n\n\n\n With headlines about the Autumn Budget, trade tensions and AI dominating media coverage, it\u2019s easy to feel overwhelmed trying to figure out if and how your finances might be impacted. Constantly tuning in to financial speculation \u2013 especially when predictions are often contradictory \u2013 can lead to rushed decisions.<\/p>\n\n\n\n For example, there was an expectation last year (which has resurfaced again) that the UK government would reduce the 25% tax-free pension lump sum or cut the higher-rate tax relief on pension contributions. Neither happened.<\/p>\n\n\n\n Yet this speculation, along with the fact of the announcement that pensions would come in scope for inheritance tax (IHT)<\/a> from April 2027, triggered some people to make decisions that may not have been in their overall best interests. Data from the Financial Conduct Authority, for example, revealed that tax-free pension withdrawals in the six months to the end of March 2025 were 72% higher than the same period in 2024.2<\/sup><\/p>\n\n\n\n As Shaz Bishop, director, wealth manager, at RBC Brewin Dolphin explains: \u201cin some cases, this may well have been an unwise decision and made without consideration for the wider wealth-planning picture. Constantly following the news and reading financial headlines can cause anxiety and confusion. Stepping away at times can help you remain focused on your longer-term goals.\u201d<\/p>\n\n\n\n While speculation dominates headlines, it\u2019s important to zero in on what we know for sure \u2013 facts, rather than rumours. This, says Bishop, creates a stronger starting point for planning.<\/p>\n\n\n\n For instance, seeing as we actually know very little about what the Autumn Budget will include, we should focus on what we do know, such as:<\/p>\n\n\n\n These are matters that can be planned for. \u201cWhile pension pots have typically been viewed as a retirement-planning tool, they\u2019ve increasingly been used for inheritance tax planning,\u201d says Bishop. \u201cBut with pensions expected to come into scope for IHT in 2027, it\u2019s important to have a conversation about your options now.\u201d<\/p>\n\n\n\n A lot of our finances are interconnected. A decision in one area \u2013 such as withdrawing from your pension \u2013 can have knock-on effects on other areas, like retirement income<\/a> or tax liabilities, and influence the long-term strategy you have in place.<\/p>\n\n\n\n For Bishop, when concerns arise \u2013 whether it\u2019s about the budget or market volatility \u2013 the first thing to do is go back to basics. \u201cA regular review of your wealth plan is crucial as it will reveal any changes to your financial circumstances, goals and objectives, and help ensure the plan you have in place will get you from A to B based on your situation and current legislation. Thinking about the bigger picture and the long-term position can help avoid rushing decisions that might throw that off course.\u201d<\/p>\n\n\n\n When you\u2019re worried about your financial position, the current market environment<\/a> or anxious about the headlines, your first port of call should be your wealth manager. They can:<\/p>\n\n\n\n \u201cYour wealth manager will be able to provide you with reassurance that your wealth plan<\/a> is fully aligned with the goals you have for yourself and your family, both during your lifetime and beyond,\u201d says Rodgers. \u201cAnd if changes are needed, they\u2019ll help you make those adjustments thoughtfully and effectively.\u201d<\/p>\n\n\n\n Uncertainty can feel unsettling, but it\u2019s also an opportunity to refocus on what matters most. Working with your wealth manager now means you can be ready to adapt when change comes.<\/p>\n\n\n\n The good news? Most changes, even those that feel significant, are usually manageable. What\u2019s more, being forced to take stock of your finances can provide peace of mind \u2013 giving you a plan to follow and the flexibility to make course corrections should things change.<\/p>\n\n\n\n Uncertainty is part of life, but it doesn\u2019t have to derail your plans. Whether it\u2019s speculation about the Autumn Budget, global trade challenges or another factor making the headlines, staying focused on what you can control is key. If history has shown us anything, it\u2019s that speculation doesn\u2019t necessarily turn into fact.<\/p>\n\n\n\n By stepping back, reviewing your goals and working with your wealth manager, you can confidently navigate whatever changes come your way \u2013 and help stay on track toward a more secure financial future.<\/p>\n\n\n\n This article was originally published <\/em>on RBC Brewin Dolphin <\/a>.<\/p>\n\n\n\n Sources:<\/p>\n\n\n\n 1.<\/sup> Ahir, Hites, et al. \u201cUncertainty about Uncertainty: Measures of Uncertainty Don\u2019t Quite Measure Up,” International Monetary Fund-F&D Magazine<\/em>, 3 Sept. 2025, www.imf.org\/en\/Publications\/fandd\/issues\/2025\/09\/uncertainty-about-uncertainty-nicholas-bloom <\/a>.<\/p>\n\n\n\n1. Turn down the \u2018noise\u2019<\/h2>\n\n\n\n
2. Focus on what\u2019s certain<\/h2>\n\n\n\n
\n
3. Think long-term<\/h2>\n\n\n\n
4. Speak to your wealth manager<\/h2>\n\n\n\n
\n
5. See uncertainty as an opportunity<\/h2>\n\n\n\n
The bottom line<\/h2>\n\n\n\n