Running a marathon is a difficult task requiring months of training and discipline. Successful marathoners follow a strict training schedule and plan – a mixture of running, stretching, lifting weights, and eating a balanced diet. And I should know, having run several marathons, including the Boston Marathon in 2011.
Each marathon is a blend of runners – young, old, black, white, male, female, etc. It’s possible for 40,000 to 50,000 runners to run in marathons like Los Angeles, Chicago, New York, and Boston. At the starting line, everyone is nervous and excited. During a race, you will pass, and be passed, by other runners. However, there’s always a group of young men (it’s always young men) who try to elbow their way to the front, dodging other runners like a punt returner. They would sprint ahead, but after a few miles, they’d be walking with their hands on their hips or standing on the side of the road gasping for air. This process repeated itself a few times before they faded away.
During my first few marathons, I would fixate on these young sprinters and worry that I wasn’t running fast enough, but over time, I ignored them and focused on my goals, and it made for a better running experience.
As an investor, you may feel frustrated as others pass you by with high-flying investments like Tesla or Bitcoin, but don’t abandon your plan to chase returns. Follow your plan, save your money, think long-term, run your race, and good things will happen.
January 8, 2021
Bill Parrott, CFP®, is the President and CEO of Parrott Wealth Management in Austin, Texas. Parrott Wealth Management is a fee-only, fiduciary, registered investment advisor firm. Our goal is to remove complexity, confusion, and worry from the investment and financial planning process so our clients can pursue a life of purpose. Our firm does not have an asset or fee minimum, and we work with anybody who needs financial help regardless of age, income, or asset level. PWM’s custodian is TD Ameritrade, and our annual fee starts at .5% of your assets and drops depending on the level of your assets.
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