Financial advisers build plans for their clients that are detailed and thoughtful. They map out the knowns - income, expenses, retirement goals - and even try to account for the known unknowns: the things we expect might happen, even if we can’t predict them perfectly.

A solid plan makes room for everyday living expenses, lifestyle choices and all the “nice-to-haves,” medical costs, and even those big, aspirational, bucket-list dreams. On paper, it looks responsible, thorough, and carefully thought out.

And yet… no matter how meticulously everything is planned, life still has a way of showing up unannounced and flipping the script. Because, as the saying goes: “Man plans, and God laughs.”

The Problem With “Unknown Unknowns”

There’s one thing no financial plan can neatly capture: the unknown unknowns. These are the surprises you don’t see coming - the events you couldn’t have planned for even if you tried. By definition, they don’t fit into a spreadsheet...or do they?

After watching clients’ lives unfold and walking alongside them through their investment journeys, there seems to be a clear conclusion: dialling back investment returns just because someone is projected to ‘get there’ is short-sighted. Because getting to the finish line assumes nothing unexpected happens. And that’s rarely how life works.

Why More Wealth Equals More Freedom

Let’s be clear, we’re not talking about wealth for ego, status, or “keeping score.” We’re talking about wealth for resilience. When unexpected financial shocks hit (and they often do) having extra wealth gives you options. Freedom. Peace of mind.

We don’t know what challenges you, your family, or even your friends might face in the future. What we do know is that money often plays a role in helping navigate those challenges.

Some of the most common “unknowns” include parents financially supporting adult children through divorce - a situation that’s becoming increasingly common - health issues that end up costing far more than anyone anticipated, and family emergencies that show up uninvited, reminding us that life rarely follows the plan.

Traditional financial planning is all about hitting defined goals. And that matters. But smart planning goes a step further - it builds in buffers, margins, and a little room to breathe. Saving and investing beyond our immediate, expected needs creates extra wealth that acts as a safety net when life throws the unexpected our way. It’s what provides real security and confidence when the future doesn’t go according to plan.

And if you never end up needing that extra cushion? It doesn’t go to waste. It flows to your family, or to the causes and communities you care deeply about.

The Stock Market: A Tool for the Unexpected

When people hear “the stock market,” they often think of volatility and headlines. But at its core, the stock market is something far more powerful: human ingenuity, captured. It’s how you own pieces of the greatest companies in the world - businesses that grow, adapt, innovate, and increase profits over time. That growth, along with rising dividends, is what fuels long-term wealth creation.

Investing isn’t about guessing what will happen next year. It’s about positioning yourself to be financially protected when life doesn’t go according to plan. In that sense, investing is one of the most effective ways to insure yourself against life’s “unknown unknowns.”

Planning for What You Can’t Predict

None of us get a script for how life will unfold. What we can do is build a margin of safety into our financial lives - acknowledging that plans are fragile and surprises are inevitable.

When you take the time to understand possible scenarios - things others have gone through that you may not have considered - and develop a more realistic view of your financial future, something shifts. That awareness becomes motivating. It encourages you to prioritise wealth creation and make proactive choices today, so you’re better prepared for whatever comes next.

The Real Mandate: Preparedness, Not Prediction

It's not about wealth accumulation for its own sake. It’s about financial preparedness - helping you build a life that can withstand shocks, adapt to change, and support the people you care about when it matters most. That starts with a simple but honest admission: we don’t know what’s coming.

The “unknown unknowns” may never be fully planned for. But with the right mindset, a flexible strategy, and a long-term approach to investing, you can face whatever comes next with confidence and control.

As financial author Morgan Housel puts it perfectly: “Saving is a hedge against life’s inevitable ability to surprise the hell out of you at the worst possible moment.” And that’s a hedge worth having. 🩷

Disclaimer: The content of this post is for general informational purposes only and does not constitute financial advice. Investments can fall as well as rise in value, and past performance is not a reliable indicator of future results. You should seek independent financial advice tailored to your personal circumstances before making any investment decisions.