And today, a guest post from Derek -
I once heard this statement at a business seminar and I have never forgotten it, “Put all of your eggs in one basket and watch that basket grow.” I know a few people that own multiple businesses and do not have the proper system that allows them to escape from any one of their businesses. They are constantly performing a juggling act with their businesses and seem to never get ahead. They just don’t understand it, but when I stand there on the outside looking it, I can see very clearly that they lack focus.
Without the proper focus, their businesses are all struggling. They fail to get traction because there is not a consistent focus on any certain business. Instead, the owner jumps from one emergency to another, never taking the time to do what is necessary to make their business grow. If they were to sell off all but one business, they could almost certainly increase sales and revenue of that business, perhaps to a size that would be greater than all of their businesses combined. Focus is a powerful thing, and if you put everything you’ve got into that one idea (or basket as it were), you can grow your business more rapidly than you ever thought possible.
Take This Principle Into Your Retirement Fund
We are often taught to diversify when it comes to investing, and this is most certainly a good idea, but no one ever said that you should have six or seven different investment firms handling your money. If this is your method for your retirement funds, you might actually go mad before you reach retirement age! Let’s say you are actually able to keep all of your funds straight. With all of these different brokerages, what are the odds that you will actually earn more money than anyone else? I am willing to bet that with all of that confusion you are putting on yourself, you will almost definitely do worse.
By putting all of your money into one super fund, you will allow yourself to do everything you dreamed of in retirement – skiing, hiking, traveling, cruises, and spoiling your grandkids. There are so many things that your retirement fund can do for you. Don’t waste it by trying to complicate your investments. Superannuation is the answer to all of your retirement needs. Click here to find out more about superannuation.