Wrapping up 2016, and hello to 2017!

Kara Tripp, Managing Director of Resicom Access, leaves us with a few thoughts to wrap up 2016.

In 2016 we saw many investors take to the sideline while two big elections played out – the Australian federal election and the USA presidential election.  With these now decided it’s time to re-consider our investment strategies and the progress we’re making towards personal and financial goals. Indications are, we’ve reach the bottom of the investment cycle here in WA, and while we’re yet to see a definitive turn in the market, we are expecting growth in 2017. So if you’re ready to capitalise on the upward momentum, there’s a few things you need to do to prepare:

  1. Clarify your goals so you have a clear idea of exactly what you want to achieve this year.
  2. Review your income and expenditure and allocate your surplus to savings or investment.
  3. Re-assess your lending to secure better terms, fix interest rates or access equity.
  4. Decide on a strategy that moves you closer to your goals
  5. Engage with people who can help you implement your strategy. You get further when you leverage the knowledge and experience of others to achieve your dreams.
  6. Take measured risks, go for what you want knowing that you’ve assessed the opportunities and the threats and have a fall back position if needed.
  7. Always keep a tight rein on your expenditure and set aside an emergency buffer. The more disciplined you are the more you have to leverage your income to create long term wealth.
  8. Make a plan and work to the plan.  2017 can be your best year ever, if you plan it that way.

Remember, it’s good to stretch yourself, we achieve the most when we challenge ourselves to do better, work harder and grow personally.

At Resicom Access, we have qualified consultants standing by to help you make the best of the year ahead. Don’t be afraid to call on us for advice and support. We offer honest advice because we genuinely want to see you succeed. Creating wealth through property is not a short term strategy so it’s important to position yourself to compound growth over time. It might be a good time to acquire new investments, or to consolidate, to re-structure, or to maintain a holding pattern. Everyone is different and in a different phase. The important thing is to maintain a clear understanding of what you are doing and why, to make sure you’re in the right place, working the best strategy for your particular circumstances and goals. We’re here to help if you need us.

We hope you have a chance to relax over Christmas, to take a break and re-charge your body and mind ready to make the most of the year ahead.

We look forward to seeing you in 2017 and helping you to achieve your dreams.