Wednesday, 1 August 2012

10 Things The Olympics Teaches Investors - Part 3

1981: Chariots of Fire – Hudson
#7.Inspiration and Perspiration

Sport often has inspirational moments, stories of courage. The Para-Olympics demonstrates this very obviously as the athletes have invariably overcome what many of us may have believed to be defining disabilities. Yet these individuals find the courage and inspiration to use this to their own advantage. Financial planning can often feel overwhelming, the jargon, the disasters, the stress, the constant problems and hurdles that are reported in the media. However keeping to the path, keeping to the programme; applying the discipline, will lead to the results that at times seem far off. It is not all “plain sailing”, there are difficulties and there will be disappointments, but great financial planning is looking at the long-term, the really big story.

#8.Personal Best

Only one person can win the gold medal (unless it is a team event). That’s one. Many will compete, but one will win. The hope of winning gold is illusory in financial planning terms. Your financial plan should be unique to you, not the benchmark for others to pass or fail. It is your life and the only personal best that matters is your own. A great financial plan will be grounded in your values and have very personal, specific goals that you want to achieve. This is your life, it is not a practice. So own the journey as well as the destination. Unlike the Olympics, financial planning actually offers the possibility that everyone wins.



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