Financial Times columnist Stuart Kirk reveals he's 100% in cash after selling all equity funds last October. As geopolitical tensions rise, he argues investors must calculate their true financial exposure beyond personal portfolios. Many focus solely on their own holdings while overlooking family assets and potential inheritances that create hidden risks and opportunities.

Kirk illustrates how his mother's pension (60% in equities) and family properties significantly alter his risk profile. He notes UK median households have roughly half their wealth in property, a figure he considers too high. These intergenerational assets change exposure to inflation and market volatility, challenging traditional portfolio analysis approaches.

The former portfolio manager concludes he remains underweight equities despite his cash position. With up to $1 trillion expected to flow from baby boomers to younger generations, Kirk argues that personal finance strategies must incorporate family wealth perspectives. His analysis suggests current market volatility actually creates opportunities for investors with the correct exposure calculations.