Welcome to Finance and Fury

Today we will be going through the workbook itself

  1. How to put the goals and risk profiles together
  2. How to work out the investment philosophy and strategy
  3. How to put together the investment plan and checklist

Three downloads – Found on the website

  1. Goals and Risk Tolerance
  2. Philosophy and Strategy Workbook
  3. Investment Plan Workbook

You can also get it by subscribing on the website,

We want your feedback, it is not set in stone – we need your help to make this better for everyone.

Goals and Risk tolerance:

  • Fact find about yourself
  • What frustrates you?
  • What do you want to improve?
  • What are goals? What are financial goals?
  • How do we separate them into short term, medium term and long term goals?
  • Give an example of what you want to achieve
  • This helps clarify what’s important to you, and gives 4 options
  1. Home
  2. Family
  3. Wealth
  4. Lifestyle
  • Ranking these in order of priority to you, to help focus on what is important now
  • A matrix about you: what is currently frustrating for you? What is holding you back?
  • What are the 5 things that you would spend your time doing if you weren’t working?
  • What are the things you enjoy doing, that are practical?
  • What is the value of these things?
  • What are you working towards? What will you be sacrificing for?
  • Goal planning: why is each one important? How much will you need?
  • Target amounts and target dates are required, check out the workbook!

Getting to know your Risk tolerance:

  • Personal situations and what kind of investor are you?
  • What are your personal experiences?
  • How confident are you? This can hinder your financial development
  • What are your investment expectations and behaviours?
  • How do you respond to market volatility?
  • If I want a greater annual return I need to be consistent with my tolerance of volatility
  • What is your experience and what are you comfortable with?
  • What does your risk profile say about you?
  • Some example allocations mentioned in the workbook!

Investment Philosophy:

  • What is it?
  • Set out your beliefs to generate your investment strategy
  • Investment beliefs – what do you believe investments are? What has your relationship been with investments?
  • What is the purpose for investing?
  • Combine your beliefs and purposes to form an investment philosophy

Investment Strategy:

  • What are your goals and timelines?
  • These will impact the next stage of your strategy
  • Work towards becoming more financially literate
  • What is your tolerance of volatility? How do you react to volatility?

Investment Plan

  • Figure out what you want you need first – Hardest part for some people to answer
  • Look at your expenses: What your ideal lifestyle costs?
  • Also, when do you want it by? Time matters thanks to inflation – $1 today is not $1 in 10 years
  • Reverse engineer your targets
  • Just do it – Action is more important than planning
  • Checklist – go through each option to implement

This has been an overview of the first 2 workbooks. Start working through them, and let me know if you have any issues with them.

We are expecting you to let us know how to improve this workbook, and all other workbooks we make

Visit financeandfury.com.au to leave feedback over on the contact page.

 

Resources:

Invest in yourself – https://financeandfury.com.au/one-of-the-best-places-to-invest-in-2019-is-to-invest-in-yourself/

Goals – https://financeandfury.com.au/goals-for-the-new-year/

Risk tolerance – https://financeandfury.com.au/risky-business/

Investment mix – https://financeandfury.com.au/perfect-investment-mix/

Investment philosophy – https://financeandfury.com.au/how-do-i-make-an-investment-philosophy/

How to build an investment strategy – https://financeandfury.com.au/how-do-i-make-an-investment-strategy/

Investment strategy to fit your goals – https://financeandfury.com.au/building-a-strategy-to-fit-your-goals/

What 5 factors create poverty?

Welcome to Finance and Fury, the Furious Friday edition This episode is a flow on from the previous furious Friday episode question from Nick, about poverty. Last episode we talked about how poverty is defined and the economic factors of poverty, which play only a...

Say What Wednesdays: What’s an Education Fund and what are the tax benefits?

Say What Wednesdays What's an Education Fund and what are the tax benefits? Welcome to Say What Wednesday! This week the question comes from Sean, "You spoke about Education Funds in a recent episode, I’m just wondering if you can explain this further?" In this...

Which Vanguard ETFs are best to diversify into?

Welcome to Finance and Fury, The Say What Wednesday Edition This week the question is from Dan I am 21 and have about 70k in a term deposit and 5k in VHY and VGS ETFs. I am wondering whether over a period of 20~50 years I would be better diversifying into VAE or VGE...

Crony capitalism and Modern Monetary Theory in action!

Welcome to Finance and Fury, the Furious Friday edition. Today we’re looking at Modern Monetary Theory in action. The first stage, how this is going to be practically done, involves the merging of the central banks and Government Treasury. We’ll also look at the...

B!tching about the budget: What does it mean to your back pocket, Santa Claus, wage growth and the cocaine economy

Furious Friday B!tching about the budget: What does it mean to your back pocket, Santa Claus, wage growth and the cocaine economy Welcome to ...Furious Friday! Today’s episode is a special edition covering off on B!tching about the budget Why are people complaining?...

Furious Friday: Market Update

Furious Fridays Market Update Today’s episode is a Market Update and we look at a few of the factors that affect our market. We will discuss why these things matter, and why we are in the state we are in! In this episode we discuss: Consumer confidence – Look at the...

What are some different forms of currency and which ones are in our best interest?

Welcome to Finance and Fury. Today’s episode – look at the potential kinds of money what are the best kinds of money are the best for the population In the modern economy - The unprecedented expansion of money supply – created some economic and political consequences...

How to prepare for buying a home, paying off a mortgage, starting a family or funding your kid’s education costs?

Welcome to Finance and Fury, The Say What Wednesday Edition special series – running through the catalogue of questions and concerns The series is broken down into three stages – 50 years or so timeline – last week was basics and the first stage...

Furious Fridays: What should the government be involved in?

Hi Guys and welcome to Finance and Fury the Furious Friday edition. This is part 7, the last episode of the miniseries about all things politics. Sorry it took a while to cover, I wanted to do this topic justice and explain all the steps and outcomes instead of...

What does Central Bank issued cryptocurrency look like?

Welcome to Finance and Fury, the Furious Friday Edition Welcome to FF FF – Hasn’t been a FF in a while – but last was running through Crypto markets in relation to the BIS and powers that be Today – Want to cover the potential of what central banks using crypto and by...

Pin It on Pinterest

Share This