How much attention do you put on ensuring that your money works harder for you, than you work for your money?
In today’s Investors Forum, we had a dynamic session with a boutique investment management company who gave us an in-depth view of their products and perspectives on investing in the markets.
There is no doubt that they are specialists in their field, and of course there are many options when it comes to investing, each suiting some investors, more than others.
It led me to think again about the importance of allocating time, energy and attention, regularly and in a scheduled way, to make investment plans and become educated on the options – allowing us to find the right mix of strategies and investments to suit our personal situation and financial freedom goals.
Do you have scheduled times when you focus solely on this part of your financial health and goals?
Or do you just make time here and there, usually when there’s a pressing reason?
Perhaps you haven’t started this process at all yet and are waiting for the day to arrive when you have a bigger chunk of cash to invest in something before you feel it’s a priority?
It seems that many entrepreneurs and business leaders either put this conversation aside, as ‘something that can wait until later’, or have a sporadic and largely improvised approach to time allocated to understanding investing and having their money working harder for them.
In my opinion, setting regular, scheduled time aside for this is an essential tool to reach your goals, and my recommendation (where possible) is to get your partner, family, friends or business partner involved to benefit from each other’s wisdom and support.
The way that this looks in my life, is that I have a weekly investment meeting with my partner where we take the time to solely focus on growth of our net worth and then create plans and decide on strategies which are aligned with us and will support us to get there. At the very least, I would suggest setting monthly meetings, however I have personally found that weekly is better to create momentum.
The best way to get started is to book an hour for your meeting at a time and on a day which you know will work. If this feels uncomfortable, that’s very normal. I kicked my toe (no injury) on the way to the second and third meeting, and my partner and I kept coming up with excuses why we didn’t need to meet.
It was only because it was unfamiliar and we were rationalising how to stay ‘safe’ doing what we’ve always done. Fast forward almost 6 months and our money is definitely working harder for us and our affairs are in much better order. So glad we persisted.
I sent out some great resources on how to get clearer on your numbers a few weeks ago, which you can view here, as a Blog article if you’d like a recap.
This could provide the agenda for your first scheduled investment meeting 🙂
And if you don’t feel you have the cash to invest just yet, you might be surprised how much more quickly that situation changes if you are putting your attention on it at regular and scheduled times.
