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THE WEEKLY GLEANER | DECEMBER 13 - DECEMBER 19, 2021 | www.jamaica-gleaner.com | FINANCE 17 THE W EKLY G EAN R | DECEMB R 13, 2021 - JANUARY 12, 2022 P ERHAPS YOUR year has been a memorable one so far, or you just want to forget it. Whatever the case, you want 2022 to be better. There are some things worth remem- bering to set or keep you on a good and productive path. Remember that financial markets do not keep on a linear path; they do not keep going in one direction. They go up and they go down. If you remem- ber that, you will be less inclined to panic when prices fall and less prone to want to milk themwhen they are on a positive path. It is useful, therefore, to make deci- sions based on good information and after giving due consideration to the major factors which affect the particu- lar market. Keep clear of the tips of so- called pundits and align your decisions with your own goals, resources, limita- tions and circumstances. Do not forget that it is very impor- tant to manage risk. In investments, diversification is key to risk manage- ment. Balance your portfolio in line with your age, resources, ability to bear risk and your personal and financial circumstances. Remember to inform yourself about the various types of investment vehi- cles and the circumstances in which they are most useful. Seek to know how best to put them together tomake your portfolio as safe as possible while help- ing you to achieve your objectives. Do not forget that the strategies you employ at one stage of your life are not necessarily safe and useful for an- other stage. For example, the growth strategy that is useful and appropriate for the early stages of your life is less appropriate for the pre-retirement and retirement phases. Remember to protect your valua- ble assets with up-to-date insurance coverage and to have the right type of coverage. Do not forget that your own insurance coverage should be relevant to the needs of yourself and those who mean the most to you. Do not forget that debt, responsibly used, can make you better off if used to fund assets that can generate in- come or that can have long-term value, particularly if it is not likely you could acquire them if you were to depend on your own ability to generate the funds required in the near term. But remember that your ability to use debt is constrained by your ability to service it satisfactorily. Debt incurred today eats into tomorrow’s income. Strike an acceptable balance between the two. Remember always that credit cards, though useful, can wreak real havoc on your finances and credit score and, like other debt, can destroy your ability to access credit in the future when it may be needed. If you are fortunate to receive a bonus or an unexpected lump sum this year, do not forget that it is unwise to let it go like smoke. Remember to spend wisely by paying down debt or acquiring an asset that has long-term value, but remember to save a portion. Remember that prices increase so tyour money values less over time. Do not forget to invest in some assets that appreciate in value as a buffer against inflation but keep your age in mind when investing in financial assets, like stocks, when hedging against inflation. Do not forget to assess your situation periodically to satisfy yourself that you are on a path that has meaning and value to you and to make adjustments if it is necessary to do so. Remember to seek the assistance of professionals if there is the need to do so. Remember that a good budget is key to your financial success. Remember to make one for the new year and to have the family involved in making it. Do not forget that your income will put constraints on your ability to spend. Remember the difference between fixed and variable expenses, periodic and recurrent expenses, and required and discretionary expenses. Bear in mind that they cannot all be treated the same way. Knowwhich you can adjust and which you cannot readily change. Do not forget to put and keep your affairs in order. Make an estate plan if you do not have one. If you have one, update it and ensure it reflects your wishes. If your circumstances or those of your family change, consider if you need to make changes to reflect the new realities. Do not forget to put your tax situa- tion in order. It could be to your advan- tage. Remember also to capitalise on legal opportunities to earn tax-free or tax-deferred income when it is advan- tageous to do so, and as you look down the road, bear inmind possible benefits from the National Insurance Scheme and the National Housing Trust, as well as any cash and non-cash benefits that your employer may offer. Make it a habit to remind yourself of the things that can make your life and that of your family better and re- member to do what you have to do to make it happen. Oran A. Hall, author of Understanding Investments and principal author of The Handbook of Personal Financial Planning , offers personal financial planning advice and counsel. finviser. jm@gmail.com HOTEL FOUR Seasons, a long-stand- ing part of Kingston’s hospitality landscape, has been placed on the market for sale by its owners, who are seeking US$16 million, or about $2.5 billion in Jamaican currency, for the property located on Ruthven Road on the outskirts of New Kingston. The property spread across three acres, encompasses 114 rooms, and offers conference and dining facilities. The hotel is being sold through realty firm Richard James & Associates, which said in the listing that Four Seasons was “still doing very well as a hotel despite these trying times of the COVID-19 pan- demic”. The sector most affected by the pandemic was hospitality businesses, including hotels that were forced into hibernation when the travel market dried up shortly after the March 2020 onset of the pandemic. The tourism market is recovering, but at a measured pace. Business is especially slow in the meetings market, as most confabs have migrated to online platforms such as Zoom and Teams, and large events re- main restricted as a virus containment measure. Richard James & Associates’ sales manager Douglas Ewbank did not re- spond to a request for comment on the listing up to press time. Amid the realty firm’s pitch to pro- spective buyers is the property’s po- tential to be repurposed as a treatment and recovery centre or hospital. “It is adaptable to a multitude of macro uses based on its location, size, and so on,” it added. Hotel Four Seasons has operated for decades but received new life in 2008 under a holding companyToyco Limited, according to Companies Office of Jamaica records. There are 12 sharehold- ers in Toyco, but none with an outright majority stake. The top six owners are Daniela Stephanie Lundh, Christopher Miehle, Mike Peter Bauer, Kyna Wismer, Matthieu Genoud and Alexandra Genoud, each with equal holdings. The hotel was upgraded nearly a decade ago, with the addition of a new wing that was unveiled in July 2012. Tourism arrivals are above 2020 lev- els but still roughly one quarter below the record levels in 2019. During 2020, with the onset of the pandemic, a num- ber of hotels and villas were placed on the market amid the business fallout in the impaired tourism sector. The largest documented property sales were Jewel Dunn’s River Beach Resort & Spa and Jewel Runaway Bay Beach Resort &Waterpark, which were sold by the Playa Group inMay 2020 for US$60million ($9 billion). The price was the hotels’ fair value of US$85 million ($12.6 billion). business@gleanerjm.com Hotel Four Seasons on the market for $2.5b The entrance to Hotel Four Seasons. FILE Financial advice to remember