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This week on Money and Investing, Mitch Olarenshaw and I discuss how Building Your Investing Team helps you make better decisions, avoid costly mistakes, and move forward with clarity.
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Drawing from personal experiences, real examples, and practical lessons, this episode outlines the core experts you need around you as your investing journey grows.
1. The Mentor
A mentor guides your thinking, provides perspective, and challenges your assumptions. Good mentors share their knowledge based on experience, not theory. They help you lift your standards, avoid common traps, and make wiser choices as you progress.
2. The Accountant
A skilled accountant helps you manage tax, structure your entities, and plan ahead. The right accountant saves you money, keeps you compliant, and pushes back when needed. Structuring early, reviewing fees, and keeping communication open are essential parts of this relationship.
3. The Broker
Brokers come in different forms: buyer’s agents, mortgage brokers, and stockbrokers. Each one helps you remove emotion from big financial decisions. They secure strong deals, keep you on track, and step in when markets move fast or stress levels rise.
4. The Legal Team
Legal specialists protect your assets, prepare agreements, and keep you compliant. From contracts to structuring to family law, having the right lawyers in your corner prevents expensive problems later. Getting things right the first time is far cheaper than fixing them later.
5. Your Peer Group
A strong peer group challenges your thinking and helps you see opportunities and risks you may miss alone. Honest conversations, shared experiences, and different viewpoints help you grow faster and make more informed decisions.
Building Your Investing Team is not about having every expert from day one. It is about surrounding yourself with the right people as your wealth and responsibilities grow. The stronger your team, the stronger your decision-making.
For more Info about Money and Investing, you can go to the podcast; The Wealth Playbook: Your Ultimate Guide to Financial Security; and The Wealth Playbook by Andrew Baxter – Audiobook, which is on Audible.
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Disclaimer: Wealth Magnet Pty Ltd (ABN 52 618 868 830) trading as Australian Investment Education is a Corporate Authorised Representative (CAR no. 1255231) of Grange Financial Services Pty Ltd (AFSL No. 488609).
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
