Happy Sunday everyone!
As of this morning, we are eight weeks away from the end of the year.
If you want to be absolutely precise, it’s eight weeks and five days. However, I always discount the week between Christmas and New Year’s Eve.
It’s one of the truly quiet weeks in banking (unless you’ve got a deal on, which sadly happened to me more than once).
And so it feels like the best possible time to relax and unwind after putting the proverbial pedal to the metal for the preceding 12 months.
Thus, it always surprises me when, a few hours before or after the bell strikes midnight on December 31st, my social media feeds start filling up with all kinds of lists and resolutions for the year ahead.
“100 things I will accomplish this year!”
“New life starts tomorrow! 7am Body Pump class, here I come!”
Now, I’ve got nothing against the concept of resolutions. As it happens, I have my own list as well. Stored in a handy iPhone note, with three to five key items I look to accomplish each year.
I just think that waiting until December 31st to recap your year is a highly suboptimal strategy.
You can’t really cross any more items off the list – and you don’t have the time to properly think through your plan for the following year.
As an aside, I had just three items on my list for 2021.
One was to buy another property, which I crossed off back in April. Another one was more of a personal nature, also ticked off around the same time.
And the third one, which was to take my family back to my old country, will sadly go unfilled this year thanks to Covid.
And now, it’s time to plan ahead.
In the least shocking turn of events, top of my list for 2022 is to buy yet another investment property.
With that in mind, I am currently refinancing one of our other properties to release some cash in a tax-efficient way, which should land in my bank account by December.
In the meantime, my agent and I have started refreshing our views on a couple of target markets, cold calling brokers, and screening potential acquisitions.
Come January, we will be firing on all cylinders, ready to pounce at the right opportunity.
My second resolution for 2022 is to get a new job – or negotiate a meaningfully better deal with my current employer.
November is a fantastic time to lay the groundwork for a Q1 move. Not so much in January, when the budgets have been set, promotions announced, and everyone is walking around with a massive hangover.
My final, and probably most important resolution for next year is to finally repay some of the health debt I’ve accumulated over the past decade.
This year, I’ve felt that the piggy bank is finally running dry.
And so, say hello to regular physio, a significant reduction in alcohol consumption, and some proper cameos at the gym.
Much as I hate to admit it, hitting the ground running in 2022 won’t happen by itself. It takes planning and preparation.
As it happens, November is a great time to get started.
Have a wonderful day all! I’m off to the gym, followed by some trick-or-treating.
From Yours Truly
An Introduction To Expected Value – The Escape Artist
Risking, Fast And Slow – Dollars And Data
Why Don’t Rich People Just Stop Working? – The New York Times
Traders Bet Ethereum Will Benefit From ETF Boost In 2022 – Financial Times
Wealth Management Money Is Coming For Crypto – A Wealth Of Common Sense
An F In Retirement – Mike Drak via The Humble Dollar
No Such Thing As Enough Money – Incognito Money Scribe
Americans Are Overworked And Over Work – Buzz Feed News
Seven Reasons To Cut Down On Alcohol – Money Mage
New Blogger Feature
I haven’t done a new blogger feature in a while, primarily because I am really focused on spotlighting high-quality blogs which truly add value for their readers.
Well, Banker on Wheels ticks all of these boxes – and then some. A finance pro sees a finance pro from afar, and Mr. BoW is as credible as they come.
I could link to a number of posts but the one you may want to check out first is his most recent Sunday Ride collection. And once you are done, you may want to read about his experience Cycling The Tibetan Heartland.
A Tale Of Two Sundays: The Outsized Impact Of Experience – Collaborative Fund
As usual, some top-quality reads to cap it all off:
Super Thinking: Upgrade Your Reasoning And Make Better Decisions With Mental Models – by Gabriel Weinberg
Happy weekend all!
P.S: Attention New Bloggers:
if you are a personal finance blogger who hasn’t yet been featured on Greatest Hits, I would like to hear from you.
Please send an email to bankeronfire at gmail dot com with a blog post you would like to submit for consideration.
The key criteria for inclusion are as follows:
(i) Content that will be interesting or beneficial to the readers of this blog (I hope you will forgive me for reserving judgment on this one)
(ii) Your blog must be at least 6 months old, with regular posts. Too many bloggers flame out early, and I don’t want the readers here to follow a bunch of dead links.
I look forward to hearing from you.
Note: the above post may contain affiliate links. You can read up about our affiliate policy here.
About Banker On Fire
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Banker On FIRE is an M&A (mergers and acquisitions) investment banker. I am passionate about capital markets, behavioural economics, financial independence, and living the best life possible.
Find out more about me and this blog here.
If you are new to investing, here is a good place to start.
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