An Unreliable Ferrari Or A Trusty Volvo… Which Would You Choose?

Edward Challis02/12/2020

From someone who is not into cars at all, this feels like an alien question. And that is partially the point, it is probably the wrong, or not quite the full question. There are several more important parts that are missing; where is the destination? When do you need to be there? How important is it that you get there?


Let us consider three hypothetical scenarios…


First, if I have a long journey to make, with lots of time to get there and it is important that I get there, it doesn’t really matter which car I choose. I could drive really fast in the Ferrari, have it break down a couple of times and get it fixed and still be at the destination on time. Of course the Ferrari might not break down and I get there early and I get to spend some more time at my destination enjoying some beers round the fire (in my head the destination is a Scottish pub in the far north!). Alternatively, I could go steady away in the Volvo and arrive on time, having had a very calm journey with no break downs.

Second if I had a medium length journey to make, I’m a bit pressed for time and it was very important that I made it. I would suggest that the Volvo would be the better option as I would favour reliability over the risk of break down. This could be getting someone to a hospital with a fairly sever injury for example.       

Lastly, if I had a fairly short journey to make, with not much time to get there but it doesn’t really matter if I do or not (let’s say to make it to watch a really nice sun set), I would lean towards the Ferrari as the Volvo will not ever have the chance of getting me there to see the sunset anyway. If the Ferrari breaks down, it is not the end of the world, there will be other sun sets!

The destination and when you want to get there are what we should be concerned with, and this is the same for your financial planning. Don’t get bogged down in asset choices or Ferraris vs Volvos, work out the important things first and we will help you choose the right car… which for me would still be the old Mercedes estate, how I miss The Duchess (and that shirt)!! 


Reddington is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority. Reddington is a trading name of Reddington Wealth Management Ltd.)