Create and keep your investment strategy

hi all. First post here.

I am reading a lot about how we need to 'have a plan' for investment strategy and to 'write it down'. But I am interested to see what some examples of writing it down are, what format you have used and where do you keep this plan so it is front of mind.

I have personally started a Dropbox folder and created some PowerPoint slides, but I'm very interested to know how others are documenting there goals and journey.

Also interested in what is included and not included in you goals such as hard figures, rough estimates and certain metrics.

 

Hi @Geekasaurus , it can be as simple as typing it all out in a notepad.txt file or writing it neatly on a page if you can read it clearly. It's less the format, than the content and the intent to follow it.

 

I would recommend reading The Property Puzzle by Stuart Wemyss if you are looking at doing a plan. I thought it was a great read.

 

Having your goals written down is important and great motivation as for keeping your investment strategy the same it has to change with the market. What might work and suit you well now might be terrible in a few years. Just some food for thought

 

I think that's a great start. I would keep it simple to start. Goals, timeframe, risk profile, Strategies to get there, develop your team and start. You may get some ideas from below.

 

Nice chart @Leo2413 do you have a PDF version?

 

The goals will always change and moving the goal posts is ok.
For me, writing them down is not so much about achieving the goals as it is about maintaining focus.
My partner is much more focused (translate: inflexible) than I am, whereas I can adapt to new or changing goals as I go. We need to constantly communicate our goals to each other as a form of focus.
Depends what purpose you want them to have and that will determine how you record them.
For my partner, a vision board is plenty.
For me, I like to verbally discuss everything at semi-regular intervals.

 

That's a good point, as you move along your goals might change. Making a detailed 10 year plan and sticking exactly to all of the things on it sounds pretty boring to me. You don't want to be a robot, and things happen along the way. Some of that is getting new information, or 'wisdom'

 

I've always used the back of the envelope technique, quite literally, when the need arises.
I'm usually scheming strategies in my head all the time, but it generally stays in my head without putting down a detailed plan.
We may not be perfectly optimised in all areas, but that's fine with me because I work to the 80/20 rule, always tending to under analyse rather than over analyse.
Although subconsciously, there's likely some serious over analysis going on there without even noticing...
Keeping it simple has worked well with us.

 

I cant seem to find it mate... just got it from the internet somewhere awhile ago and put in in my resource folder...sorry... if I come across the pdf ill send it to you.

 

@Leo2413

I am getting lazy,what did we do before google

 

Nice one! The things you can find on google Is amazing!

 

Thanks guys this is great food for thought.

@Leo2413 - printing that one out straight away and putting it on the wall and in my Powerpoints

@miked - I will def check out the book.

@MrsNixba - good point on talking to the partner regularly. I have the same problem with a structure so writing it down needs to be precise or nothing.

 

@Geekasaurus This is a great piece by Rich Harvey. You might like it mate.

http://www.washingtonbrown.com.au/w...-20-Investment-Criteria-Report-Wash-Brown.pdf

 

Great thread.

 

Thanks @Leo2413 - another great doco. What's your goal/s (if you are willing to share?)

 

In a very similar boat! I keep it in my head while my wife writes everything, I have learnt now that the writing part is important to keep focus as it's ready to revisit and see how your tracking

Haha I went out and bought a notebook especially to keep things in one place... It now has half filled out goals list, rest is in my head, IP areas info, mindset notes anda few grocery lists! The rest is in my head and constantly thinking over scenarios and ideas!

 

I'm the one who write down again and again in the piece of paper. Quite the oldies way, but that repetitive makes my brain stick to it.

As long as it works, regardless how you write down the plan. For us Goal is more important than the plan. Plan is vehicle to reach your goal in timely manner

 

Hi @Geekasaurus My end goal is to be able to provide my wife and family a kind of lifestyle where they are truly free to enjoy whatever they like. I want my wife to have everything and anything her heart desires. We've both worked very hard and we believe that our sacrifice is for a worthy ideal.

Property, deals, negotiating, developements , how many properties etc etc is all nonsense to us. We couldn't care less about it all. Its only important to the extent it will allow us to realize our dreams, whilst at the same time still treasuring the present.