On Saturday evening I was hanging out with some friends and we were talking about what we did earlier that day. My friend Tom mentioned that he and his wife walked about 5 miles through town, bought lunch at a local deli, then had a picnic by the river. After lunch they walked home through the town center.
While talking about his day, Tom commented to our friend Sheryl, a marathon runner, that “walking 5 miles once a week isn’t much compared to running marathons.”
Sheryl just laughed the comment off and mentioned that it doesn’t matter what she does, it matters what he does. That struck me as a wise statement. Not only does that relate to running/walking/exercising, but it relates to all matters of life, including personal finance.
You need to crawl before you walk
You can’t run a marathon if you haven’t trained for it. On a similar note, you can’t max out your 401(k) if you don’t have your finances in order, have a good income, pay off your debt, spend less than you earn, etc. It takes hard work and discipline to get your financial house in order and few people can do it right away. It takes even more work and discipline to grow wealth.
Think long term
Most marathon runners and millionaires aren’t made overnight. They are made by hard work, discipline, and planning. I have a goal of being a millionaire one day, and I know that for me, the best way to plan for that goal is to plan the same way you would plan for a marathon – with patience and a long term outlook.
Photo: Sheffield Tiger.