Marathons are considered to be one of the toughest sports out there because it takes a great deal of energy and stamina to stay in the race and not give up. And for a Marathoner it is not always about winning. Rather they are always self-motivated to improve and beat their prior records.
Now let’s come to the title!
You must be wondering how one can connect Marathoners and investment? You will be surprised to know that there is a deep connection between the two. You can actually learn the best investing lessons from Marathoners.
- It’s not just about the long run
Why do we invest? Most people do it to accumulate enough funds to meet future financial goals. And if you want to attain your financial goals, your investment portfolio must have the right ingredients which will help you grow funds to complete your goals.
But in the meanwhile, you may be faced with other immediate needs which can’t be overlooked. And you will require funds for the same. That’s where an emergency fund comes in. It should be large enough to cover to meet all your urgent needs and any unexpected emergencies.
Just like the way in a marathon race, it is significant for the marathoner to endure the short term and sustain until the end, you need to be careful of your short-term requirements and still invest enough to meet your long-term goals.
- Don’t let the distance intimidate you
Marathons can be over 40 kilometres. Most of people are often intimidated by the long distance that has to be covered in order to finish the race. But if you break down the distance into smaller distances, like kilometre by kilometre, it becomes much easier to cover the distance and conclude the race.
Apply the above technique to your investments. For example, some of your financial goals such as your child’s education can be quite frightening particularly with the high cost of education these days. But if you save a fixed amount every month and invest the same in a financial instrument like ULIP regularly, you can easily build the necessary funds to achieve your goals.
- It isn’t always going to be a rough run.
A marathoner’s path is not always a bed of roses. He has to run through rough, rocky terrain. It is a challenge to pass through obstacles. Though, it isn’t always going to be a rough run. There are smooth roads ahead too.
Similarly, when it comes to investments, you’ll find yourself in sticky situations where you have to cut down on some of your expenses so that you don’t have to halt any of your investments. Keep in mind that you’re cutting down on your expenses to secure your own financial future and it’s worth it.
- Never give up.
It is very significant for a marathoner to be determined and resolute if he wants to complete the race. There may be obstacles, but these shouldn’t daunt your confidence or make you lose focus of your goals. If that’s the case then you will probably never be able to succeed at anything.
So far as investments are concerned, there will be times when the market performance is not so good and your funds may not perform well too. You may also face emergency situations that force you to liquidate your investments. These shouldn’t stop you from continuing your investments though. Always keep in mind that you have been investing for specific goals.
In the end, investments are your best bet to achieve all your financial goals, no matter how hard investing may look. If you actually want to live the life of your dreams, take up some of these investment lessons.