There's a time to make sudden moves, act or react swiftly, and I'm one of those people who know how to do it and, more importantly, when to do it...mostly. Of course, there's a time not to make swift decisions and actions and when it comes to financial investment and financial security counting to ten prior to acting is wise; I mean investigating and researching before making commitments that could adversely affect one's future position.
No sudden movement
I have several investment strategies for the purpose of diversity; some are medium-term strategies and others longer-term although, considering I'm not as young as I once was, most are probably medium term as my time on this planet is less "long term" now than it used to be.
I've always carefully researched my investments and reviewed periodically to ensure they're still appropriate and to seek potential gains; I've avoided knee-jerk reactions mostly but have taken a few (calculated) risks along the way - with mixed results, but mostly positive ones - however I've always held to the strategy of making no sudden movements.
One of my investment options is superannuation - similar (but not quite the same) as the American scheme called 401K - and I've been contributing my entire working life.
Those funds are invested (by my superannuation fund) in various places here and abroad and I've had solid growth. It's a set and forget thing generally although I've liked to play a more active role so select options based around my own research. This doesn't mean I tell them where exactly to invest my funds, more that I've chosen to select investment options to maximise growth.
There's options like balanced, medium or high growth, stable, index diversified, conservative balanced, and other such things and one can choose Australian or global investments only or a mixture; there's a complex range of options and I don't want to get too complicated in this post. What choice a person makes depends on age usually as each strategy delivers different results over time - a young person has the time to recover if their high-yield options goes belly up for instance. I spent some years in a high yield space which is more risky but increases one's balance strongly and as I got older I leaned towards a more balanced (cautious) investment strategy however a while back started researching more and began to split my investments between various strategies. I avoid putting 100% of my funds into one or the other but switch between high and medium growth with a percentage of my funds with the greater percentage ticking along in a more balanced area.
There's some risk to doing this due to my age because I'm a lot closer to the age at which I'll stop working and will need to rely on my own funds and the high growth investment strategies are can be volatile but it's that volatility that drives bigger yields. I'm not going to go into my splits and where they are, but by making some moves here and there, calculated ones, I've managed to get my superannuation funds into a position that make me feel quite comfortable; I can't access them for years to come but they're on the right trajectory for when I'll need to rely on them to live life.
I always review at this time of year and make the changes as above so they begin at the start of the calendar year; I've just clicked some buttons and while it's always a slightly nervous moment - have I made the right decisions - I am content that my research-process and strategy is sound; the worst is that I take a slight hit (which has happened before) but the gains have also come and they're larger because of the changes I make along the way.
I don't measure my success with money but money is a necessity in the modern society we live; I feel the responsibility sits on my shoulders to ensure I have what I need (and a little of what I want) now and into the future.
No one is going to look after me in the future and I'd not want to be a burden on anyone even if there was someone around to look after me. I also believe that there's a world of pain coming financially (and in other ways) and it's in my nature to work towards self-reliance as nothing comes without a little effort.
Design and create your ideal life, tomorrow isn't promised - galenkp
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The title sums up so much in life, in this case of course, it pertains to your financial health and plans. When I first saw the title I thought of standing on the ledge of a 10 story building. Is that ledge 6 inches or only 5 1/2 inches? It may not matter in the grand scheme of things, but in this very particular instance, it matters a great deal. No sudden movement is self explanatory.
A great many people are standing on that financial ledge, not measuring anything and dancing up a storm to boot, the epitome of recklessness. It drives me crazy to think of not being able to provide for myself in whatever years I have left. Homelessness is becoming a raging epidemic even among the elderly who previously had fairly stable lives.
Your planning and strategy sound spot on, and with your penchant for self sufficiency, you will sail on into this new year and beyond.
Hello from the future...the year 2025 to be precise! Yep, one hour into to 2025 at the time of writing this comment and I'm annoyed I haven't made all my annual goals yet! Lol.
You bring up a couple of really important things, the recklessness so many apply through stupid behaviours and the epidemic that is homelessness or maybe destitution, that so many experience due to bad decisions. I'll not allow me to get into that situation and so I work hard at it now, earning, investing and planning...It seems prudent.
Anyway, some of us (fucken you) are stuck in the past...2024 to be exact, and I bet you feel left out; here I am in the future living life (actually tired as fuck as I've been up for almost 24 hours) and wondering when you'll catch up...15 hours or so I guess...but then, I'll always be in the future to you backwards in time folk.
Happy new year, thanks for being a good sport and a nutbag and for your interactions.
lol Patience on the annual goal front, you'll get there in good time. Ya, I'm stuck in the before times, waaaay back in 2024, for 13 more hours yet. I choose you to be the first person I wish Happy New Year to, as you're the only one I know who actually is in the new year lol. I am happy to have made your acquaintance in 2024, you've made it a great year...thank you so much!
Well, I woke up happy, my little cat sitting on my chest trying to get me to wake up for breakfast; she's cute, was tapping my face with a paw now and then. Cheeky thing.
Anyway, it's been good interacting with you and I look forward to doing so again this year, let's make it a good one.
I wish I could say I'm a shrewd investor but I'v made some terrible decisions and lost my life savings at least twice through utter stupidity and my 'it'll be alright on the night' philosophy. Hopefully I've learned just enough to steer through my last years without hitting another iceberg.
I can relate as in the past I have lost everything to a rogue business partner in my company who decided all my money would be better if it was his...the figure was staggering and the recovery I made quite mind blowing I think considering it's been only eleven years. Anyway, we all make bad decisions and the important thing is that we learn from them. I hope you're on the right track now.
Diversifying is the best alternative, I learnt it some years ago and little by little I am learning about it, because before I didn't know about these subjects. I am interested in them and I like to learn, especially to reach an age when I can feel that I can live in peace. Greetings Galen.
Yep, diversifying one's investments certainly helps to minimise the risk involved and can lead to better long term results. I hope you don't have to wait for you to get old before you live in peace...I find it all the time in many ways, so maybe you can too.
I know I can do it, I am sure, with effort and perseverance everything can be achieved. Let's keep going!
Very happy new year 2025 Galen, best wishes for a year full of success!
Yep, it's been 2025 here for almost 90 minutes so I feel I'm an authority on the future...I can assure you 2025 is...much like 2024 was but who knows what's to come...time will tell.
Happy new year.
Right! You can watch in advance! Let's see what the rest has in store! Happy New Year!🤗
Hi Galen, I also believe there comes a world of financial pain, and with my age I am also well on my way to self-sufficiency. Younger people should read this post, diversify, don't put all your eggs in the same basket, and combine risk (without getting greedy) with secure profitability are very good advice.
It's something that sometimes has to come with age and, contrary to what they believe, young people don't know it all and have rarely had the right experiences to get the hang of it. Most just don't want to be told I guess. Oh well, they'll learn soon enough, many of them when it' far too late.
Happy new year, Galen.
Best regards!!
Happy new year too...it's arrived and now it's time to get on with it and make it a good one.
This way I see it coming over the horizon...
It looks like a good year... And if it is not... We'll turn it into a good one...
Best regards, Galen.
My wife and I have some side investments along with our pension that we get from the state. I always spend some time looking at those this time of year so I can see how they are doing and more importantly growing. It's been pretty exciting to see them increase over the years. People in the private sector often complain that we get a pension in the public schools, but honestly, I'd be fine if they gave that money to me to manage myself.
It's good you have that, something more to help you plan for retirement. Someone I had over for a BBQ last night just retired four years ago, he was 60, and has been loving life. He's self funded like I'll be and has it all set up quite well, so it was good to chat about it with him and his (quite younf in comparison) wife. Good people.
That's very cool that you have someone you can run stuff by like that. I can retire at 50, but I feel like that is a bit too early and as we have talked about in the past, I don't want to put myself in a position where I have to go back work or something like that.
We've changed our lives so that we have more time to work on the things that we enjoy.
The best investments strategies will give you resources to make choice, but which of those choices bring your life fulfillment and meaning are up to you to determine.
I turn 52 within a week - the things I want and contemplate now are not the things I wanted at 22, 32,or even 42. A good life now is spending time with my aging mother, my family and more with my nieces and nephews. Definitely enjoying some volunteer work.
Presumably you have thought what mark you want to leave with the left of your life, what mountains you want to climb. I do think economic turmoil may be coming our way too - I will set in an extra large garden this year, there is some security there, but also a level of quality that can not be had for any price. You may very well be a burden to some at least temporarily, it's worthy and admirable to be self-resilient but it is not good for us to be alone.
I disagree that self-reliance has anything to do with being alone at all. It's about moving towards being able to provide a plethora of things required for life and even enjoyment without waiting for someone else to do it.
The rest of what you say makes perfect sense, the time thing you mention and the slant towards greater self-reliance through a garden that produces food; I think that's becoming more of an issue in a time when so many don't have the skills around doing it or processing the foods that come out of it for future use. (Another thing that is self-reliance focused.)
I'm a prepper so can talk about this all day however this post was more about my financial readiness (and decisions around that) so my partner and I don't need to rely on some immigrant who doesn't speak English working in a nursing home to look after us, so that we can keep rockin' it in the way we do now and enjoy the life we have now even after we exit the workforce. It's a pretty good life so I don't see the point in letting it go for something less.
Being a prepper is the rational choice in the current climate.
For the alone part I was thinking of my time as a soldier, an Infantryman.
Everyone breaks. Pressure and exhaustion can do that to everyone. It's good to have a team or family to pull you along when you need it.
We think the same thoughts about - the nursing home, we moved back to the family homestead last year, my mother is getting older and I'm glad we are here because she never wants to be taken care of by strangers. Nor do we.
I've been giving a lot of thought to my own health and tuning my diet and exercise so I can be robust until late in life - the idea of becoming frail seems unacceptable.
A good unit, good people, with the same objectives, determination and mindset is important whether that's in the field or back home and I'm fortunate to have exactly that.
People get old, it's crazy how/why people don't see that and plan more effectively for it but the reality is so many do not; running and gunning at full tilt doesn't last forever, not in its original format or pace, but with good planning one can keep operating at a good level, meaning have a good life. Health is one aspect for sure, but financial health factors in too, as does being (more) self-reliant...like the end of my posts always say, design and create your ideal life, don't live it be default. Really important stuff.
I looked after both my parents until their ultimate demise, one was cancer (she had a horrible death) and the other dementia/cancer - both situations were tremendously challenging. That, and the death I've seen elsewhere, helps me live better in the present but also actively plan ahead as I want a good life all round, not just in the present.
Glad to hear you're thinking about it and planning...that means you're well ahead of so many people and will have a good chance to rock it into your later years. For the record, I'm still running and gunning, literally with guns, and in most aspects of life from relationship, career, financial, emotional, spiritual, enjoyment/fullfillmemt, social and in other ways...I think being able to truthfully make statements like that comes from a lot of effort, hard work, planning and execution and I'm happy I've taken the responsibility for those actions...and it's great to read you're doing the same.
Wow! Excellent post! I agree with many things, especially the part that says: "The choice a person makes generally depends on age" I wish you a successful new year. Note: I don't think it's that old...
I can only speak for myself but I surely have made different decisions as I've gotten older and experienced more things. Younger people tend not to think of their long-term perspective and the fact that they're going need to support themselves financially in, what will usually be, a more difficult world to navigate from most aspacts. So, they think more about their immediate lives and say things like, *"I may not even make it to older age," but what if they do? Financially destitute and living in squalor? Yep, probably. Anyway, it's up to the individual to make their own decisions and I'll be around long enough to be able to say I told you so to many of those who make bad ones.
It's great that you know how and when to act on your decisions and actions.
I think the strategy of not making any sudden movements with financial decisions is a very good one and I follow that principle too.
It won't mitigate all risks, or remove them but putting some thought in prior to action is almost always going to lead to a better result, I'm glad to hear you apply the same principle.
Happy new year...I'm in 2025 already!
I read your post and thought of a proverb: "Measure three times, cut once".
It's great when someone is in a situation where they can measure several times and look at it from multiple perspectives, but there are situations when we have to react at the moment.
These are certainly not situations of a financial nature 🙂
If a wolf chases us in the forest, we run away immediately.
But if we are considering a financial offer, think twice. If we screw up, we won't feel guilty as if we acted impulsively.
Oh yeah, so many times I measured once then had to break something because I measured wrong. Lol. Also in respect of finance and other such decisions...rash action isn't often good.
I stand and fight until the run-awayers are safe and then decide from there...the wolf sometimes needs a good fucking up and I have on occasions handed it out. (I get what you mean though.)
Seriously though, it's really important to be comfortable and confident in financial decisions and that comes through having the right advisors, doing the research and standing back to consider things from a little distance rather than when right up next to them...and sometimes that takes time. It doesn't always mean success will follow, but it puts one in a better position.
Im happy to survive 2024, could be worse.
Happy New Year sir galenkp.
Yeah, dying buggers up any year and is difficult to recover from.
Haha...
Maybe you are right with the joke, but surely you don't understand the reference since I am talking about surviving in Venezuela (without being in danger of death) where it is about knowing how to cope with situations where we can easily differentiate between LIVING and SURVIVING.
Something in which HIVE has helped me a lot.
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