Armin Schmidt

Financial Economist Financial Specialist Graduate Engineer

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Strategy

Plan to Achieve Goals

"Only those who know their destination will find the way."
Laozi (6. Jh v.Chr.)

Meaning

Stra|te|gy

[strædədʒi] A strategy is a detailed plan of your own action, which serves to create a military, to achieve political, psychological, economic or similar goals, and in which the factors who might play into your own action try to take into account from the start. Source: Duden

So the strategy is the answer to the question:
What goal should be achieved?

Building the Strategy

The Steps to the Goal

If you want to build up and preserve assets, you have to attach great importance to money . So you have to take your time for your fortune.

Essentially, the following steps will be repeated over and over again , because they are constantly exposed to influences.


1. Inventory

Assets, Income and Expenses

You need to know where you currently stand and what (savings) potential is available. Which assets do you have and which are missing? What income is there and what is the expenditure? Which issues can be optimized or deleted entirely will? The inventory must be put in numbers. You can download an Excel file on the blog, which can help building up your inventory.

2. Goals

Written Record

Become aware of your goals. These too must be put in numbers and recorded in writing. This makes them binding and you can determine a necessary return to achieve your goals. It doesn't matter if it's a big goal, or multiple small goals. Check regularly whether the goals are still relevant.

3. Learn

Find experts or take action yourself

The learning process is important so that it becomes clear how goals can be achieved. This is the only way to recognize which ones Instruments that fit your personality. You don't have to become an expert yourself, but you have to get the tools so far understand that you are able to recognize an expert and whether his approach corresponds to your own ideas.

4. Invest

Invest and Control

Investing includes not only the capital investment itself, but also the constant review of previous successes, Progress and failures - a complete control of success. This includes a trade journal and building one Track records. The trade journal and track record show you how good strategy and applied tactics really are.

5. Protect

Protection against Influences

The closer you get to your goals, the more it will be necessary to protect your achievements. A complete one There will never be security, but a large part of the success must go through safeguards and / or exit strategies to be protected. A process that becomes more and more important and complex with increasing wealth.

Risk Warning

The information contained on this website regarding companies or investments is based on my own research or on sources that I believe to be reliable. Although the sources are carefully checked, I cannot guarantee their accuracy.

Performace values from the past cannot give any conclusions about the future. Equities, precious metals, commodities, derivatives, investment funds and more generally securities investments offer opportunities for high profits with a high risk of a loss in value. Depending on the type of investment, even with the possibility of a total loss.

The investments mentioned or described here do not constitute investment advice because the personal situation of the investor cannot be taken into account due to the investment objectives, risk tolerance and the general financial situation.

Do not do business that you do not fully understand and that you have not 100% convinced yourself. The researched share or capital investment is also no guarantee of profit. If necessary, find out about the meaning and function of order limits before you make an investment.