{"id":4098,"date":"2015-04-21T01:00:05","date_gmt":"2015-04-20T15:00:05","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=4098"},"modified":"2015-04-21T01:00:05","modified_gmt":"2015-04-20T15:00:05","slug":"plan-the-second-quarter-of-2015","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/plan-the-second-quarter-of-2015\/","title":{"rendered":"Plan the second quarter of 2015"},"content":{"rendered":"

 
\nAs we head into the second quarter of 2015, Michael Yardney<\/b>, from\u00a0Metropole<\/a>, shares a series of questions designed to help you evaluate and glean the lessons and meaning of the year so far to help you clarify your direction and your plan so that you make any needed course corrections.
\n <\/p>\n

Transcript:<\/b><\/h4>\n

Kevin:\u00a0\u00a0<\/b>We\u2019re well and truly into 2015, now and we\u2019re heading in to the second quarter of the year, well and truly. Is this a good time to assess your portfolio? What are some of the questions you need to ask yourself? That\u2019s the question I put to our genius when it comes to this sort of thing, Michael Yardney from Metropole Property Strategists.
\nHi, Michael.
\nMichael:\u00a0\u00a0<\/b>Hello, Kevin.
\nKevin:\u00a0\u00a0<\/b>Have you been called a genius recently?
\nMichael:\u00a0\u00a0<\/b>Actually, it\u2019s a long time.\u00a0<\/b>I think my mother is probably the only other one who\u2019s ever called me a genius.
\nKevin:\u00a0\u00a0<\/b>Oh, well. We think you are. We love having you in the show. Michael, what are the key questions you find we should be asking ourselves now to evaluate what we\u2019re doing?
\nMichael:\u00a0\u00a0<\/b>I think it\u2019s a good time \u2013 you\u2019re right. I think one of the questions you should ask yourself is \u201cWhat is it that I set out to do and accomplish in 2015?\u201d Now be honest with yourself and where do you stand on those? How\u2019s it going, Kevin?
\nKevin:\u00a0\u00a0<\/b>Is it best when all these are written down, Michael, so you can assess them better?
\nMichael:\u00a0\u00a0<\/b>It makes much more sense to have set some written goals, Kevin \u2013 you\u2019re right.
\nKevin:\u00a0\u00a0<\/b>It\u2019s really about the reasons behind it all, isn\u2019t it?
\nMichael:\u00a0\u00a0<\/b>That\u2019s right. The same question I ask myself is \u201cWhat are the deeper reasons why I set out to accomplish these goals, and are they still important to me \u2013 if that\u2019s the case, the reasons still matter the same \u2013 or if not, why not?\u201d Then what I\u2019d be saying is do you want to adjust the goals for the rest of the year? Are they still appropriate for you? Are they still meaningful?
\nAnother question I ask myself is what do you like best about what\u2019s going on so far in the first three or four months of the year? What are you proudest of? What are your victories? What are you grateful for? It\u2019s always good to be grateful for what you\u2019ve achieved.
\nKevin:\u00a0\u00a0<\/b>The thing I love about what you just said then is that we can be very negative on ourselves; it\u2019s always good to look at the pluses, as well, Michael, to get a bit of a balance into what we\u2019re doing.
\nMichael:\u00a0\u00a0<\/b>We live in such a lucky country. We have people around us who love us. We\u2019re in a great position. You have to start with an attitude of gratitude every day.
\nKevin:\u00a0\u00a0<\/b>I like that very much so. Yes.
\nMichael:\u00a0\u00a0<\/b>The next question I ask myself \u201cWhat are the key lessons I\u2019ve learned in the first three months?\u201d What are the hardest of those for us to listen to, and what are we going to do with the insights that we\u2019ve learned from those lessons \u2013 the things that worked and the things that haven\u2019t worked?
\nKevin:\u00a0\u00a0<\/b>Once you\u2019ve been through and assessed that \u2013 we\u2019ll get back to writing some of this down \u2013 is this a good time to evaluate your plan?
\nMichael:\u00a0\u00a0<\/b>It is. It\u2019s a good time to write them down again \u2013 \u201cOkay, here are my goals for the rest of the year\u201d \u2013 and then you actually have to share them with somebody, with your spouse or your significant other, and with your mastermind team. You actually have to share it, because the real power and juice in life comes from the relationships we have with other people.
\nKevin:\u00a0\u00a0<\/b>Just tell me a little bit about that peer group, too, Michael.
\nMichael:\u00a0\u00a0<\/b>I think it\u2019s really important, Kevin. You\u2019ve probably heard it said that you are the average of the five people around you. If you\u2019re a fit person, very likely your best friends are going to also be cyclists or runners or fit people or people you meet in the gym. If you\u2019re financially successful, your peer group is going to be important. Your net wealth will very likely be the average of the five closest friends you have.
\nIt\u2019s been said that your level of wealth is likely to be relate to them, so maybe it\u2019s not a bad time to look at your peer group.
\nKevin:\u00a0\u00a0<\/b>Michael, just to build on that, why does the peer group matter so much?
\nMichael:\u00a0\u00a0<\/b>I always look at a couple of reasons, Kevin. Firstly, your peer group\u2019s attitude, beliefs, and behaviors, they\u2019re contagious. This impacts on the way you think, your ability to spot and take advantage of opportunities, and your behaviors as you go after \u2013 or interestingly, as you don\u2019t go after \u2013 your financial goals. If your mates pooh-pooh you and make fun of you and say you shouldn\u2019t do it and you\u2019re greedy, you actually don\u2019t go after your financial goals. That makes a difference.
\nI think another reason is alone, you\u2019re vulnerable; connected, we are strong. We all have blind spots, we all have limitations, but your peers can help you bridge these gaps, and they\u2019ll often share resources with you to help you make better decisions, better financial choices, Kevin.
\nI think the other thing is it\u2019s actually a lot more fun to build with other people. It\u2019s hard to do it in isolation. We live in a world that can be isolating, but we are social beings. We build better when we have peers to bounce ideas off, to encourage us, to hold us accountable.
\nKevin:\u00a0\u00a0<\/b>That\u2019s a lovely segue, Michael. You\u2019ve given me three great reasons there to mention your Wealth Retreat, which is coming up next month, as well, because it gives that platform, doesn\u2019t it?
\nMichael:\u00a0\u00a0<\/b>It does, Kevin. I\u2019ve found that when people become very successful in property, in business, as entrepreneurs, when they get to a certain level, they actually don\u2019t have a lot of people to bounce ideas from \u2013 you\u2019re right, Kevin \u2013 therefore they come to Wealth Retreat to get an instant mastermind group of movers and shakers
\nThey come along and they sit with fifty of their peers, people who are really successful, and with the best faculty I can get together, people like my business coach, Mark Creedon, with Pete Wargent, who\u2019s a regular on this show, who\u2019s an economist \u2013 he retired when he was 33, financially independent \u2013 with Ken Raiss, with the top property, tax people, share people, and all of a sudden, they create their own mastermind group \u2013 people who are there to help them to network. And it\u2019s not just the formal education; it\u2019s the chats you have over lunch, over breakfast. The informal chat is a great way to do it, Kevin.
\nKevin:\u00a0\u00a0<\/b>Okay. Tell me a little bit more about how can we get some more detail?
\nMichael:\u00a0\u00a0<\/b>If you\u2019re interested to come along to Wealth Retreat, go to WealthRetreat.com.au. We\u2019ll get all the information, you\u2019ll find out more about it, and register your interest, and I personally speak with everybody who comes to Wealth Retreat one-on-one to make sure their investment of the five days\u2019 time \u2013 and, to be honest, the money \u2013 would be worthwhile for them.
\nKevin:\u00a0\u00a0<\/b>Wonderful. On that note, Michael, we\u2019ll say thank you.
\nMichael:\u00a0\u00a0<\/b>Thanks. My pleasure, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"

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