Happy Friday! The only way is up right!? With winter solstice behind us, days start getting longer now… although it is going to take some time to recognise this. The US are now in their summer break, schools are on holidays and people are enjoying the warmer weather there. Be a nice time to visit if anyone is thinking of planning a trip! Oh, and if so, please let us know, we can help give you a checklist to get a bank account open in your LLC name (if you don’t yet have your US company set up – give us a call to chat!).
Tax time is upon us here in Oz… can be an exciting time or a depressing time, depending on your view point. How have your investments performed this financial year? Are you happy with their effort? One thing I always believe we must ensure that our money works HARD for us. We work hard for it, and it is only right that we expect the same in return. Think of your money or investments as employees – they need to give you good outcomes, good return or you need to change something.
This is a good time to sit back and take stock of where your investments are going and ensure they are moving you forward. This give then the next few months before the end of the year, to make some changes and put steps in place if needed to change direction
One thing a mentor of mine went through recently is when reviewing parts of your life to your goals and how they are performing, whether it be investments, business, job, or life, knowing when to change (Innovate), tweak (Optimize) or grow (Scale)…
For instance: If your investments are performing less that 20% of your goal, you should innovate – essentially look to change tack complete and start again.
If on the other hand, the performance is within that 20% range, then optimize – tweak a few areas just trying to increase returns.
And lastly of course, if the performance is exceeding goals, then scale – grow the investments!
This can give good clarity on how to ensure your investments are working has hard for you as you do for them! Tax time can be very exciting 🙂
Have a great weekend all and Happy Investing!!