My investing behaviour has evolved much like my running career. In my youth, I was a sprinter. Back then I didn’t have the patience to run more than two laps. Now I run half marathons and 10-kilometres races for fun.
With my money decisions, it was similar. In my youth, everything that I earned in my part-time job in a supermarket, I directly spent on clothes or parties on the weekend. Savings? Not a chance.
As I got older, I developed more stamina, both in running and investing. Today, at least 10 percent of my salary goes into an appropriate savings account, just as George S. Clasen recommends in “The Richest Man in Babylon.” As a result, today I’m managing to build my wealth and achieve my investment goals step by step.
And it’s the same with running. In the past, I was only ever concerned with quick wins. I didn’t think more than one season ahead. I lived from competition to competition, pushed myself in training, went out partying on the weekends, and was often injured as a result.
Today, I train more sustainably. Running is a hobby that I want to pursue intact and with joy into old age, so it’s important to think long-term.
The following 5 strategies I have developed for running, but they can also be applied to investing.