Recap Of The Year That Was
This time of year is a great opportunity to recap on achievements and give yourself a bit of a scorecard for the year that has been as you relax and reflect.
You can also recalibrate, look at how your goals and priorities have evolved and what you want to change and improve for the next year ahead.
Every year, b Invested founder Nathan Birch takes time out to go somewhere nice and be by himself for a while so that he can recharge and refresh his perspective.
Nathan had big, ambitious goals at the beginning of last year and then the pandemic came along and disrupted a lot of people’s plans.
What he did notice is that a lot of what he had been predicting from the economy in recent years had begun to come to fruition.
And because of this, he had prepared himself well and was able to tick off a lot of those big goals at the end of 2020 and start of 2021.
He began 2021 coming off one of the best investing years in his life, but was still able to produce a year he could be proud of.
In great personal shape
One of the keys to Nathan’s success has always been clarity when it comes to his goals and where he wants to be in life.
But clarity isn’t a constant. It needs to be reviewed regularly.
When he looks at himself, Nathan says he may not be as buff or gym fit as he was a few years back, but feels deep down in a better place than ever before. He quit smoking a few years back, he rarely drinks alcohol, he doesn’t do drugs and he’s been eating more healthily.
He feels that his mind is sharper than ever before and he has achieved much more clarity on the things he wants to achieve now.
One of those things is to build a portfolio of hotels, but more on that shortly.
Big portfolio growth
Nathan has enjoyed a great level of financial success with property markets all around Australia performing well throughout 2021.
On one occasion, he realized his portfolio had increased in value by $20 million. On another occasion it increased by $10 million. Building his foundation portfolio of more than 220 properties over all these years has meant that his exposure to value growth is amplified.
All up, since the pandemic arrived in Australia, Nathan estimates he has increased the value of his portfolio by between $30 million and $50 million.
And he wants to supercharge this growth even further with his next venture.
Building a hotel empire
Not that long ago, Nathan decided he wanted to begin investing in hotels and motels. He came up with a plan to buy five of them. But after settling on his first one, he realized there was a process and procedure that he could replicate and scale.
He decided to increase his goal to 20 hotels in a year and 100 over five years.
This year he has been able to buy 25 hotels, 11 of which he has already settled, while the others will settle in the new year. Already he has experienced good value growth and excellent cashflow from these investments and he is well on track to get to 100 within the five years.
So where to for 2022?
Nathan will sit down in the coming weeks to draw up his goals for the year to come.
He says it’s important to be careful in times like we are currently in. After being in lockdown for a long period of time, people are more likely to feel that they deserve to splurge money on themselves. But it’s always important to leave emotion out of decisions and with some economic uncertainty ahead, in the form of interest rates and the potential for hyperinflation, 2022 goals should be set with care and clarity.
If you need help with your own financial goals for the new year, reach out to b Invested on 1300 367 925, or firstname.lastname@example.org.