The Olympics are where the world’s best athletes compete to win gold medals for their country. We can see so many super human actions that athletes (like us) cannot do.
There are many lessons from the Olympics that can be applied to us in terms of finance and investment.
1. Set goals
If we ask each of them if they have a goal, surely they succeed. It is not an easy task to stay disciplined, practice every day. What drives them? Their goal. It is common for athletes to train for years before joining an Olympic team. They need to plan ahead to ensure that they are in the best shape when competing, so that they can achieve their goals.
Similarly, saving and investing is also not easy. Especially when there are too many sales (7/7, 6/6, 5/5 ... temptation). Setting savings goals such as home savings or retirement funds will help you plan ahead and train you to save money consistently.
2. Start early
It takes years of hard work to be the best. The earlier you start, the more time you have to practice and sharpen your skills. For example, the best swimmer in the world, Michael Phelps started swimming at age 8. At age 15, he became the youngest man on the U.S. Olympic swimming team. at the 2000 Sydney Olympics.
The same goes for investing - the earlier we start, the better! The sooner we start with savings and investments, the more time we have to reap the benefits of a merger. Little by little, it took a long time to become a hill.
3. Plan ahead
An Olympian doesn’t just miraculously appear in thin air. Behind the athlete’s success are years of dedicated hard work and a lot of planning and strategizing involved.
Similarly, investment success does not happen overnight. Remember, investing is not a ‘get rich quick’ scheme. It always takes patience (many of them) and dedicated planning to achieve something great. Among other things, athletes train to build stamina and strength. Let’s strive to build knowledge in our investment journey.
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BUSINESS & MONEY
