Building a strategy to fit your goals

Welcome to Finance and Fury

Today we are continuing from last week, and going through strategies to fit your goals. Some bad news… The workbook will be released next week because there are a few pieces missing, as it doesn’t achieve what I wanted it to. So as a DIY template, I didn’t want to put out something that could be misinterpreted. There will be a special episode for the workbook and putting all of these episodes together. So look forward to that. Today we will cover the strategies that form part of a plan

Factors that influence each:

1. Goals – long term and short term
2. Risk profiles – target asset allocations
3. We have done a few episodes on these

Investment plan – short term:

1. Cashflow – the building block for achieving short term goals and long term wealth
2. Strategies for this? Reduce spending, monthly savings plan, repaying personal debt, home deposit, and reducing tax. These are specific to you.

Investment plan – long term:

1. Some hybrid options – building wealth, reducing tax and leverage
2. Some overlaps between categories/outcomes

Building Wealth:

1. Monthly investing – is for the long term if you have a financial independence goal
2. What do I need to focus on?
3. Lump sum investments – Property, Shares and Managed Funds
4. What are the considerations? What are the costs?
5. Leveraging for non-property investments – Equity borrowing and Margin loans
6. What is dollar cost averaging?
7. Superannuation strategies – consolidation, growth asset allocation, reducing asset allocation closer to retirement, making salary sacrifice, non-concessional contributions
8. What do your insurances within superannuation cost?
9. What do you do if you’re within 5 years of retirement?
10. What is a co-contribution?
11. Debt repayment – Mortgage and Investment debt
12. What are the opportunity costs?

These will be run through in the strategy workbook next week – today was a quick run through

Investment plan example – Mine:

Cashflow:

1. Paying myself first
2. Spending vs investing – opportunity costs considered today
3. Holding reserves in cash for when I need it, for when the market is down and so I don’t need to sell investments

Wealth Accumulation:

1. Investing in long term growth investments – 30% index funds and 70% active funds
2. Making monthly investments – superannuation and personal investments

Thanks for listening today, sorry about not having the workbook today but it will be ready by next week. Where we will run through it and wrap up the last few weeks of Monday episodes. If you liked the episode, let me know on iTunes with a review or send me a message on the website here.  

Episodes to check out:

How do I make an Investment Philosophy? – https://financeandfury.com.au/how-do-i-make-an-investment-philosophy/ How do I make an Investment Strategy? – https://financeandfury.com.au/how-do-i-make-an-investment-strategy/ Find and Forge your own path – https://financeandfury.com.au/say-what-wednesdays-want-to-know-how-to-make-the-most-of-your-money-find-and-forge-your-own-path/ The Perfect Investment mix – https://financeandfury.com.au/perfect-investment-mix/ Goals for the New Year – https://financeandfury.com.au/goals-for-the-new-year/