By Rachel Waterhouse, CEO, Australian Shareholders’ Association
01 January 2022

January is a good time to make your personal, professional, and financial plans for the next 12 months so that you have a clear idea of where you are headed and how you’re going to get there. So, why not look back at what has worked for you and what hasn’t, and develop strategies to build, create and protect your financial well-being?

For example, you may want to: 

1. ensure you have a budget in place and are spending less than you earn;
2. assess your superannuation situation, regardless of your stage in life. In my case, I plan to make regular payments to top up my own super;
3. review your investment portfolio and buy and hold good companies. I am planning to focus on investing in great companies, with strong management teams, that have a good strategy and could perform well in the long term;
4. have estate planning and taxation affairs in place. If you’re not sure how to go about it, you could have a look at ASA’s Peter Bobbin’s estate planning course (20+ short videos);
5. if still working, keep improving and diversifying your personal skills to expand your career options and increase your remuneration; and
6. understand your own risk tolerance.

We are all different, each with our particular circumstances, so January is a good time to take stock and plan for the future.