Investing and working out are two of the most important things you can do for your future. But they can also be two of the hardest things to stick with.
But how do you treat your investments like a workout routine? Here are a few tips:
1. The goal is not the goal
"Once I can retire or have a million dollars, I’ll be happy" "When I have a killer body, I'll find happiness." – sounds familiar, right? Both money and fitness are means to an end. The real satisfaction comes from the passion, purpose, and joy behind the goal. Your investment journey or fitness routine should be a journey of fulfillment, not just reaching a number on a scale or a bank account.
2. Set realistic goals
Don't expect to get rich quick or build a six-pack overnight. Set realistic goals for yourself and track your progress along the way.
3. Invest wisely and avoid fads
Fads in both finance and fitness are based on unsound principles and rarely last. Quick fixes and flashy trends might grab attention, but they rarely lead to lasting success. Invest wisely – save a little every day and sock it away in a diverse portfolio. Similarly, be active every day and choose workouts that sustain your long-term health, not just the latest fitness craze.
4. Start early and consistently
Starting early in investing pays off, just like starting your fitness journey early leads to a healthier life later on. It's never too late to start. Studies show that those who prioritize fitness earlier in life have fewer health complications later on. So, whether it's saving or hitting the gym, the early bird gets the worm.
The key to success is to invest and work out regularly. Even if you can only invest a small amount each month or work out for 30 minutes a day, it will make a big difference over time.
If you want to stay invested every month, some platforms offer an auto-invest feature where you can automate your deposits so you don't have to manually do it every month. A recurring investment is like setting your investments on autopilot. Think of it as your self-driving Tesla completing the trip for you. And because you're investing regularly, you'll be able to take advantage of investing returns and potentially earn more money over time.
5. Balance your portfolio (and your workouts)
Just as diversification is key in investing, balance is crucial in fitness. Don't limit yourself to what you know; diversify your workouts for optimal results. Just as it's fine to have your bread and butter investments, it's crucial to incorporate variety into your fitness routine.
As your financial goals change and your investments grow, it's important to rebalance your portfolio regularly to ensure that it still meets your needs.
6. Learn from setbacks
Markets crash, and your body might face setbacks too. But setbacks can turn into victories if you lean into the pain and grow from it. Learning from failures in both finance and fitness is a universal principle. Break the cycle of setbacks, and you'll find your true essence and authentic self.
7. Find mentors and advisors
Leaders know they don't know everything. Successful investors need mentors too. In fitness, find the best professionals to guide you. Whether it's dollars or health, surrounding yourself with trusted advisors is a winning strategy.
In the end, whether you're flexing your financial muscles or your biceps, the principles for success remain the same. So, let's embrace the journey. Cheers to a wealthier and healthier you! 🚀💪