Goals and Risk profiles, and Philosophy and Strategy workbook guides

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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
  3. Investment Plan

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/

195 episodes available. A new episode about every 2 days averaging 28 mins duration .