We looked at investment planning and strategies in Day4, now for Step 4 building them. The analysts and commentators, gurus, ancillary service providers, some pros and cons and your wealth, business, property and share choices.
Updated September 2020
80% of people already investing, then who go to a financial planner don’t have an investment plan or strategy
Often they’ve bought a holiday home or an investment property in the same suburb in which they live
(Source: General consensus of many financial planners)
Building your plan and strategy
1. Check out the ideas in Wealth Creation Strategies and Topics and Wealth Gurus
Often wealth strategies and gurus overlap with Business Strategies and Topics, Property Investing Strategies and Topics and Share Investing Strategies and Topics, so look below at specific topics in these relevant to your planning.
- Go to Wealth Creation Strategies and Topics and use the resources inside the accordion “Managing your money| Help with financial decisions during Covid-19, after bushfires and other catastrophies”
- DOWNLOAD and FILL OUT a checklist or planner that you like
- Your ‘plan’ could be as simple as choose and go to a financial planner. Days 9, 10 and the BiG Directory show you how to do that. It’s up to you how much time and effort you spend on learning.
- Explore some of the other materials there on investing eg Are Shares or Property a Better investment?
While you’re planning you’ll get ideas from the articles, analysts and commentators or gurus. Choose one or more who resonate with you and who specialise in the area, strategy or asset class you prefer. Search their name in BiG and you’ll find more about them.
Here are just some of the people and areas for you to explore:
- Wealth management
Mark Bouris and Yellow Brick Road
Dr Joanna Martin
Scott Pape – The Barefoot Investor
The Motley Fool
Eureka Report and InvestSmart who provide various levels of investor education and involvement. Tailored to whether you’re a beginner, experienced, or advanced.
Kerr Nielson Platinum Asset Management
- Asset Classes
- Managed Funds (not listed on ASX) – retail, wholesale, superannuation
- Property Trusts – Listed (REITs)
- Exchange Traded Funds (ETFs)
- Listed Investment Companies (LICs)
Visit this page for help plan starting your own business or building your existing business.
Some of the resources in there includes:
- FREE stuff from universities worldwide 150 Free Online Business Courses
- Business Planning
Business.gov.au has a lot of useful resources (templates etc) Writing a business plan; Mentoring services; Marketing
- Online businesses and strategies
Business (Aus gov) Online Business
- Women in Business – various business and networking sites
Apart from shares and superannuation this is one of the biggest areas where people search, and need help with a plan and strategy.
- where you’ll find a truckload of ‘advisers’ who say they can help and offer education, mentoring and coaching
- the least regulated area and where you can get into trouble from unscrupulous players
- where there’s a proliferation of providers. Last count BiG had over 400 ‘Gurus’ (remember we rate them (red/yellow/green) as quickly as we can, the list grows and changes every day. Oh to have the resources and financial backing of a Trip Adviser! So it’s pretty rudimentary, but we do the rating, to avoid sabotage and the many variables and lack of transparency, make rating difficult)
- where the gurus and the people we call “ancillary service providers” in the BiG Directory (eg people who source property – real estate agents, buyer’s agents, developers, property investment educators, investment clubs – whatever they call themselves) may have an education or mentoring service. They often claim to be successful, and their clients are, and promise to help you plan but often with no financial planning qualifications.
Many good operators are trying to clean up the industry eg Margaret Lomas and Property Investment Professionals (PIPA) see them and more in GURU COPS.
See ASX – Your investment strategy
Overlaps with ‘Wealth‘ especially superannuation.
Has resources to help you see: Topics, Strategies, the pros and cons – and gurus that specialize in them.
That should be plenty for you to plan and strategise with. Let’s go investment shopping tomorrow in Day 26.
Love to get your feedback – email or leave a comment.
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All the very best with your investing!
Day 26 BiG 30Day Investing Challenge| Time to invest – just do it! Step 5 Time to shop – for your investments! Day 27-28 W/E
Where we’ve been – 30 Day Challenge Blog overview:
Day 5 – Who Can You Turn to for Investing Help? People and ‘Players’ in the Investment Industry (Day 7-8 W/E)
Day 12 – Part 4 Less Regulated Advisers – Analysts, Commentators and Gurus (Day 13-14 W/E)
Day 19 – Who are the best investment gurus? Part 4| Choose a Guru (Day 20-21 W/E)