The summer holidays are the perfect time to review your financial position and think about what you want to achieve in the year ahead.
Sit on the beach, talk to your partner or friends, and have a think about what you want to do in 2020. You might like to think about:
- What are your long-term goals? It might be early retirement, $50,000 in passive income or buying your three kids a house each.
- What are your short-term goals? A holiday in 2020, to pay off your mortgage more aggressively, or a boat.
- What’s your current position? You can calculate your net worth here.
- How can you bridge the gap? Using this tool you can see how closely you are tracking to the retirement you want.
With a rough mental map of where you’re heading, you can think about what steps you might need to take in 2020 to put you on the right track. It might be a new rental property, more money into KiwiSaver, more debt repayment or simply talking to a financial adviser.
“Money in itself isn’t the goal,” says Michael Cave, Authorised Financial Adviser and Director of Cave Financial. “It’s what you can do with it that’s inspiring – getting the lifestyle you want. Think about that holiday, pin up a photo of that boat; when you can align your brain and your heart, you can really make it happen.”
Take the time during the holidays to talk to your loved ones, consider your goals, and perhaps speak to an adviser. Remember, Impression clients have a free annual one-hour consultation with Cave Financial – if we manage your properties, give us a call and we can set it up for you. A one-hour meeting could be enough to get you on track for the rest of the year, give you a second opinion on your current situation, or be the perfect kicking-off point for you to achieve all your financial goals.