What ever you choose to focus on in 2010 I’m sure you want it to work out well. It could be a relationship or partnership, a business or studies, health or weight, sport or arts the following tips were designed for investors but apply in any endeavour you undertake. Are you focused on creating a sound financial foundation for your future maybe you’re into property, the share market, internet or business investing, these few simple guidelines will help to ensure an enjoyable and successful journey. Make your road to investing success a bit shorter by following a few tips from those that have traveled before you.

1. Have a plan. Know what your goal is but also keep an eye on the fine details of your transactions. Having a good understanding of all the figures involved in purchasing and maintaining your properties will make the exercise more enjoyable and profitable.
2. Have a ‘win with me’ philosophy in all your dealings. That way all parties are happy and you will sleep much better.
3. Make sure you continue a sound savings strategy. Allocate 10% of your earnings to savings and 20% to investing capital. And remember avoid consumer debt.
4. Remember to keep your life in balance no financial gain is worth the loss of your health or your relationships. Allocate time for each area of your life. Being devoted and focused is great, but being able to switch off, is also important for success.
5. Believe. You can take control of your life, decide how you want to live, trust your abilities; take responsibility for your future. Life doesn’t always go to plan, keep it all in perspective.
6. Surround yourself with people already successful in your area of interest. Follow their lead, do what they do, don’t try and reinvent the wheel until you have money to lose. Invest with your head, make sure your risk is manageable, and get your own personal financial advice.
7. Learn as much as you can before you start, read books, attend seminars, do your homework. Following successful people is great, but don’t underestimate yourself, take responsibility for your own education. What’s right for some may not be right for you.
8. There is a lot to learn, and lots of ways to invest don’t get carried away trying to do it all at once, it’s easy to get overwhelmed and when that happens there is a tendency to stop altogether.
9. Life is busy, so create a timetable that can guide you through your week, utilise time in your car listening to investment or motivational CD’s, delegate some of your work, don’t try and do it all yourself.
10. Decide what you will do with the money you make before you make it. Selling a property, for example, and making $30,000 profit, it’s easier than you think to spend quickly if you don’t have a plan for it.

Stay Positive, it’s not what happens but how you handle it that matters.
Live Life with Love and Laughter.

Have an amazing day,

Teresa and the Team at

AustraliaWealth.com.au ]]> http://australiawealth.com.au/blog/wealth-creation/successful-guidelines/feed/ 0 http://australiawealth.com.au/blog/wealth-creation/what-is-your-financial-personality/ http://australiawealth.com.au/blog/wealth-creation/what-is-your-financial-personality/#comments Sun, 13 Dec 2009 22:27:59 +0000 Teresa Vidal http://australiawealth.com.au/blog/?p=349 We are all individuals with our own unique personality and when it comes to finance and investing the same is true. Finding out your financial personality will give you some insight and guidance in the way you handle your money and what you are more comfortable investing in. The 21st Century has seen the emergence of more investment possibilities as well as some financial difficulties that we have not encountered before. There are opportunities for creating wealth available to more people than ever before, find out where you fit in. 

The Passive Investor

The passive investor may be a beginner or someoe who has little time to follow their  investment and so chooses a professional to take care of the details. You should however never let someone else have complete control over your finances, always follow whats going on and monitor how your money is working for you. You may be comfortable using fund managers or unit trusts but you don’t have to stay a passive investor for life. Once you gain some experience or more time consider other investment possibilities if you feel comfortable but seek expert advice.

The Active Investor

If you are this type of investor you like to stay in control,  but this means you have to have some knowledge of the market and investment cycle. You must have a clear goals and objectives, are you investing for tax benefits, income or capital growth? To be an active investor you need time and cashflow as well as knowledge and you should still seek professional advice when needed. Active investors are attracted to property, shares, options, gold, futures and collectibles.

The Conservative Investor

If you are this type of investor you do not like taking risks and may feel your money is safest in the bank in fixed term deposits. However you may find this type of investment often costs more in tax and other fees. getting expert advice is one way to learn other investments strategies that are low risk and more beneficial. Property held over the long term is one low risk investment that may be suitable there are also a number of stock market strategies that can be put in place to protect your capital. Just be sure you understand what you are investing in, including costs, fees and charges and compare them with what the banks offer in the way of secure investments.

The Average Investor

Average investors often do well because they are willing to consider a wide range of investment opportunities, are prepared to take some risks, invest over the long term and understand their investment choices.

The Flamboyant Investor

You fall into this category if you are prepared to take big risks in the hope of big gains. These risks do pay off sometimes but usually only if the risk has been carefully calculated and only a portion of your investment capital has been used. If you foolishly put all of your money into get rich quick schemes it is likely they will not turn out as you hoped. Timing is often very important for this type of investor so you must really be familiar with and understand where you are putting your money, seek professional advice and have a balance of some secure investments in your portfolio.

Once you understand your investment personality learn as much as you can about the strategies you are best suited to, there are a number of educational programs and homestudy packages that can help you but once again be sure you choose a reputable company or program with a proven track record. 

Power Thought

I am always prepared for opportunity.

Think about this and you will be.

Have a beautiful day

Teresa and the Team at

AustraliaWealth.com.au