Financial fitness tips

It’s always good to check every now and again that what you are doing is working for you. I find people often fall into habits and become sidetracked with their financial goals.

Recently, a client said to me that they had been wanting to see me for five years but hadn’t got around to it. That is a common comment. Imagine how much further ahead they would have been financially if they had taken action earlier. Here are some questions you should ask yourself to check if you are on track to achieve your aims.

Are you running an investment business or are you a hobby investor?

A hobby investor could be one who buys one property then “crosses their fingers” and hopes it will be enough to fund their retirement. If you were running your investments like a business you would, no doubt, do a lot more planning, spend more time on your investments, know what they would achieve for you long-term and, therefore get a better result.

What is more important to you – wealth or happiness?

While in Melbourne recently I heard Robert Holden, who calls himself a happiness guru, speak. He actually has a PhD in which his specialisation is happiness.

 

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