7 habits of a great investor
Peter Switzer, Founder and Publisher of the Switzer Super Report, lists seven habits to set you up for financial success.
1. Know what you want
Write your goals down and put them somewhere you can see them every day. Figure out how much time and money you’ll need to make it all happen.
2. Use the most tax-effective structure
The smartest investors all do. Weigh up the pros and cons of investing inside and outside of super, and always consider the tax implications.
3. Get good advice
A wise investor always seeks advice, especially when it comes to tricky areas of tax.
4. Play the long game
Successful investors identify quality assets, build diversified portfolios and take a long-term view.
5. Develop the investment strategy
Don’t lose sleep at night trying to achieve financial goals at the expense of your well-being. Make a plan that suits you.
6. Get into self-improvement
Setting out to build your wealth is aspirational, so you need to be willing to learn from the experts. The more you understand things like risk, diversification and dollar-cost averaging, the further you’ll go.
7. Put money aside for a rainy day
You never know when something unexpected might come along. It could be a big expense or an even bigger opportunity. Either way, it pays to be prepared.
Important information and disclaimer
Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Accordingly, reliance should not be placed on the information contained in this document as the basis for making any financial investment, insurance or other decision. Please seek personal advice prior to acting on this information.
While it is believed the information in this publication is accurate and reliable, the accuracy of that information is not guaranteed in any way. Opinions constitute our judgement at the time of issue and are subject to change. Neither the Licensee nor any member of the NAB Group, nor their employees or directors gives any warranty of accuracy, or accepts any responsibility for errors or omissions in this document.
Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent.