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Wealth: Now is the time to revisit your investment strategy Posted on February 14, 2020

Chess piece

An investment strategy – whether inside your SMSF, or more generally – is an essential part of securing a positive return. A strategy is a tangible document that outlines your goals and actions now and later. A considered and thoughtful strategy that is regularly reviewed is the best way to become better off.

  • Goals – what is the definition of success for you down the track? The strategy will work backwards from this.
  • Circumstances – what base are you starting from and what are the details of the assets you’d like to invest?
  • Diversification – how well will your investment weather a market downturn? Many SMSFs have previously been single-asset funds invested solely in property, but that leaves little cushion for a fall. Investing in diverse assets will ensure you don’t end up losing your life savings, or end up in a position where you are unable to make re-payments on money borrowed.
  • Liquidity – how easily can you convert your investments into cash in order to meet unforeseen significant expenses?
  • Risk and insurance – are you protected against the worst-case scenario? You’ve worked too hard to lose your investment, but it does happen.
  • Reporting and audit – are your investments compliant? Don’t try to do everything yourself. There are experts who can navigate the complex intricacies of investment markets.

Your investment strategy could be your most favourable wealth driver. It will answer these questions specific to your circumstances. Review it once a year to monitor progress and adapt the strategy to your inevitably changing circumstances.

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