6 min read

Stocktaking Chapter 2024 of Our Lives

As another year draws to a close, it’s hard to believe we’ve reached this point again. Our lives are woven from stories and memories, and each year marks a new chapter filled with unique experiences. Reflecting on Chapter 2024, what have been your standout experiences and memories?

I cherish this time of year because it allows us to pause and reflect on three key areas: our world, our personal lives, and ourselves. From global events affecting our communities to personal milestones shaping our individual journeys, we have much to contemplate and appreciate.

Our World

  1. US Election Outcomes: This year’s US election made waves across the globe, impacting many either directly or indirectly. Discussions around new tariffs hint at potential trade wars and rising protectionism. Proposed tax reductions promise better corporate earnings yet could also reignite inflation concerns. For Australia, exports to the US could face a 10-20% tariff, and looming US-China trade tensions threaten commodity prices, including iron ore, which has already fallen to USD 100. Moreover, the election result and the appointment of the new Treasury Secretary have fuelled Bitcoin’s surge to record highs. Let’s wait and see if its value will fluctuate the same way as before. How have these developments influenced your thoughts, career, business, and investment choices?
  2. AI Revolution: The relentless global focus on AI has transformed business operations and strategies across industries. This AI enthusiasm has propelled Nvidia to become the world’s most valuable company, while tools like ChatGPT have integrated deeply into everyday lives and decision-making processes. Consider how these advancements have impacted your personal and professional spheres.
  3. Geopolitical Tensions: Ongoing wars and regional disputes not only challenge global stability but also threaten to escalate beyond what any of us wish to witness.
  4. Interest Rates on the Decline: With inflation dropping to the 2-3% range, the US Federal Reserve, along with many other central banks, has begun reducing interest rates. In Australia, inflation decreased to 2.8% in the September quarter; however, rate cuts are not expected until next year. Some forecasts suggest February 2025, though a closer estimate may be May or even later.
  5. Australia’s Property Crisis: Supply Shortages and Rising Costs: The Australian property industry continues to struggle with high construction costs, resulting in a lower number of new dwelling starts and completions, which fall significantly short of demand. This situation has led to sustained capital growth, exceptionally low vacancy rates, and strong rental increases in most capital cities. With the population rising due to migration, the ongoing undersupply of new dwellings remains a major issue. Some members of parliament have discussed potential reductions in capital gains tax incentives and the elimination of negative gearing—a topic that resurfaces frequently, especially as federal elections approach. However, the supply issues and escalating property prices are not driven by investors or tax incentives. While tax incentives are beneficial, most property investors are motivated not by tax deductions but by the desire to accumulate additional assets. They aim to supplement their inadequate superannuation, allowing them to enjoy a financially secure, long, and healthy retirement.

Book your appointment today

Want to find out how you could build your property portfolio? Our property strategists are here to help.

Reflecting on Our Lives: Questions to Ponder

  1. What was the highlight of your 2024 chapter?
  2. What accomplishments at work make you proud?
  3. What are the three key lessons you’ve learned?
  4. How many problems did you help solve at work and for others?
  5. What did you do for your family, friends, community, and yourself that brings you pride and satisfaction?

Chapter 2024 for Ironfish

  1. In July, we celebrated our 18th anniversary, feeling both privileged and humbled to assist Australian families on their property wealth journey.
  2. Despite challenges like higher interest rates and inflation, we continued to support tens of thousands of existing customers in expanding and sustaining their portfolios. Additionally, we aided hundreds of new customers in starting their property investment journey with us.
  3. Our property investment strategy focuses on building diversified portfolios across six major Australian cities. It’s rewarding to witness impressive price growths in Perth, Brisbane, Adelaide, and the Gold Coast. Meanwhile, Sydney and Melbourne also experienced growth, particularly in the townhouse and housing sectors.
  4. We have become even more selective about the clients we work with and the projects we recommend to our investor customers.
Self-Reflection: Key Questions for You
  1. What new habit have you developed? What new hobby have you started?
  2. What aspect of your personal growth are you most proud of?
  3. What new knowledge or skills have you acquired?
  4. How have you nurtured your physical, mental, and financial health?
  5. What actions have you taken to expand your income and build assets?
  6. Have you made new friends? New friendships can introduce fresh ideas and opportunities.
  7. How many books have you read? Which book provided the most meaningful insights for your growth or satisfaction?
  8. How have you rewarded yourself?
  9. What has brought you happiness?
On a Personal Level
  1. A highlight of my 2024 journey was attending the Owners & Presidents Management program at Harvard Business School in Boston in September. I had the privilege of connecting with over 180 business owners from 49 countries and learning from top professors. Two major takeaways were mastering the art of asking better questions and making wiser decisions.
  2. As an optimist, I’ve persevered through business and personal challenges, striving to spread smiles, encouragement, positive energy, help, and hope to everyone and every situation possible. Each day, I’ve made it a point to start and end my days with a smile. These challenges and setbacks have strengthened me and made me wiser, fueling my determination for a brighter tomorrow.

Congratulations on completing another chapter of your life! Whether you’re thrilled with your achievements in 2024 or not, remember that this year is drawing to a close, and a new chapter awaits. Life is incredibly precious, and each day is a unique blessing for us all. Celebrate the positives from the past year, and learn from any setbacks and disappointments. With the right perspective, these experiences can enrich our lives, making us stronger, wiser, and better.

2024 will always be a part of our life’s journey and will remain in our memories for years to come. Be sure to cherish the festive season with your loved ones—you truly deserve it!

On behalf of everyone at Ironfish, we wish you and your loved ones a very Merry Christmas and a Happy New Year! May 2025 bring you even more joy, happiness, and prosperity!

Book your appointment today

Want to find out how you could build your property portfolio? Our property strategists are here to help.

Contact us
All
Employment Enquiry
All
All
.docx,.rtf,.doc,.pdf fiel extensions are only allowed.
.docx,.rtf,.doc,.pdf fiel extensions are only allowed.