Marathon Training Can Help Investors Meet the Finish Line

Running a marathon is a lot like long-term investing: You need discipline, focus, plus the will and ability to handle the ups and downs.

Where's Your Finish Line?

No runner clocks 42 kilometres the first time on the track. Early in a running career, the goals might only be 5K or 10K, maybe even less. Later, they'll be faster speeds, steeper hills and, for trail runners, a variety of obstacles. Eventually, some runners will tackle a marathon — the pinnacle — a big goal built on the foundation of achieving smaller distances.

For a new runner, the idea of a marathon is intimidating. The same applies to an investor thinking about retirement. It's hard to imagine how to begin, especially if the finish line feels like a long way off. Why not apply the runner's "5K approach" to retirement saving by taking on smaller challenges first? One easy first step is to set up a pre-authorized contribution plan (PAC) to make regular contributions. Watching your investments grow can be as inspiring as feeling your stamina build during training for a run. Another option to build confidence is to start with a practice account which allows you to limber up and learn the basics.

Pace Yourself

Hitting the finish line of marathon is a great feeling, but there are no shortcuts. That runner's high is the reward for the time and effort you put in, as well as sticking to a running schedule, rain or shine and no matter what your mood. For investors, it's the same story. Jumping on the latest investing trend hoping for a quick win is like a runner sprinting off the starting line. Runners need to handle many different obstacles —weather, terrain and other runners. Similarly, investors need to be prepared for different market cycles and other challenges by creating a diversified portfolio and defensive portfolio strategy.

Finish Line

Some runners says it's the first 5 kilometres that are the toughest, while others say it's the last that are a killer, as fatigue or pain come into play. Successful marathon runners learn how to deal with occasional hurdles — soreness, grumpiness, discouragement — because they know that hitting the finish line will be worth the temporary discomfort. Running a marathon challenges both the mind and the body. That's why marathoners create a holistic and diversified regimen that includes proper nutrition, hydration, running and weight training, and sufficient rest.

Investors also need to look at their long-term goals in a holistic way and, like successful marathoners, take it one run at a time to build the strong financial future they envision.

Fun fact: At this year's Berlin Marathon, 33-year-old Kenyan runner Eliud Kipchoge set a new record for the fastest marathon time of 2 hours, 1 minute and 39 seconds.