The real secret of financial success is leverage – using the strengths you already have to better advantage.
What are your Strengths – how can you leverage them?
For a sportsman this may mean taking advantage of public recognition to achieve income from endorsements. For those of us without glittering sporting careers, it usually means using equity or savings to create funds for investment. If you have an income and either savings or your own home, this may be leveraged to borrow money to purchase investments. This means you can get gains on an investment you have not put any or very little of your own money into - another example of leveraging your strengths.
Your ability to leverage your strengths will ultimately determine your quality of life both during your working years and throughout retirement. Many New Zealanders have severely compromised lifestyles after retirement – unable to afford health care or insurances at the very time they need them most.
Plan carefully then follow the plan
An effective investment plan is the best way to secure your future with a comprehensive strategy not only giving a decent quality of life in retirement, but allowing you to retire at an age of your choosing or if bad health makes that decision for you.
Life is full of suprises and these events can dramatically alter your financial landscape. Having a family may be the best thing that happened to you, but it may mean you can no longer afford to purchase an investment. This is where looking ahead and planning well can make or break your financial prospects.