Recently, while pedaling away on my elliptical machine and flipping through TV channels, it suddenly dawned on me how similar the fitness industry is to the finance industry.
How many of you have seen an infomercial telling you that you can lose weight in just 5 minutes a day? Really? How is that possible? And how many of us have seen products promising to build wealth quickly and without risk? Well, success in fitness and finance isn’t easy or instantaneous (lottery winners aside), but can be earned with hard work and time. Just ask your trainer or financial advisor. The best methods to get fit are straightforward, disciplined and geared for the long-term. It’s a lifestyle change. Here are 4 tips to get you moving towards attaining a physically and financially fitter you.
Why wait another day to go for that jog or quit smoking? And at the same time, why wait to start saving for your retirement? Time is truly your best friend when it comes to saving for your retirement. If you started saving just $100 per month, you could have $1 million in 44 years!1 Every little bit helps, so get out for that walk today and start deferring to your retirement plan.
Mix it up! Balancing act!
Fad diets don’t work! A restrictive diet can be hard to stick with long-term and oftentimes, you stop seeing results. But a balanced diet is usually a better option and can become a way of life. Just as we balance our diets, we can also balance our portfolios. A portfolio of just the latest and flashiest stocks may not adequately prepare you for retirement, but a variety of stocks and bonds from all over the world might help you build your nest egg.
It’s all about maintaining a healthy, active lifestyle, which may help you increase your longevity and overall quality of life. Also, I know some think of exercise as something to do to look better, but exercise is also important to our brainpower. “Scientists have discovered that exercise appears to build a brain that resists physical shrinkage and enhances cognitive flexibility.”2 Amazing! Similarly, the benefits of hard work and discipline can be seen from a financial point of view. Shape up your financial physique by working out a financial plan that’s right for you and stick with it. A comprehensive financial plan can help provide you with a sound financial life and future.
No Such Thing as “One Size Fits All”
After consulting with a professional, a plan can be drafted that is specific to you and your goals. Choose the route and the tools that are best for you and also built to get you where you want to be. We are all individuals, so keep in mind that a solution that is right for someone else might not be right for you.
We wish you all long, financially and physically fit lives!