Scoring at Hockey Taught Me a Thing or Two About Investing

Growing up, hockey most definitely wasn't my thing. I was far more focused on figure skating — oh, how I loved those sequined dresses and fuzzy skate covers. I had zero understanding of the sport that so many others seemed obsessed with.

What I didn't know then was how much the game would become part of my life as an adult. With two sons head-over-heels for hockey, I found myself spending hours watching them learn and excel at the game. And as they figured it out, so did I. While positioning was a bit hard to pick up on — think of an amoeba-like flow as every kid went for the puck — the concepts of off-side, icing and shift changes became quite clear. My love of the game grew alongside theirs.

A few years in, I decided to take the leap myself. I had just celebrated a milestone birthday and was looking to shake things up. And I thought, really, what's one more hockey bag on top of the three already piled high in my basement? That was over six years ago, and I've never looked back.

Fast-forward to the present, and I find myself drawing on my experience learning to play hockey as I delve into the world of self-directed investing. Like with hockey, where years of figure skating lessons paid off, I'm also coming into investing with some knowledge thanks to the help of professionals that have shown me the ropes over the years. Still, taking the reins of my financial future has meant some extra training to set me on the right track.

As I figure out my new investing path, I'm being cautious and gaining confidence — much like my hockey experience. Here's what I mean:

Learning Curve: Figuring out anything new takes time and effort. Before even considering playing “real" hockey, my first step — after rounding up a hodgepodge of equipment — was a women's skills class. While I focused on the basics there, I also started asking more questions of my family and fellow fans in the stands if I didn't understand a play. I liken it to the research I've been doing on my investing journey, which has included lots of reading, asking family and friends, and checking out online topics of conversation among more seasoned investors. 

The End Game: I quickly discovered that what I enjoyed most about my hockey skills sessions were the scrimmages. It made me realize that my ultimate goal was to gain enough confidence to join league play — which I did very quickly and absolutely love! With my investing goals, I used to take a far more general view of things like retirement or education. I read recently, however, that if you can be more specific and actually visualize your goals, it can help keep you on track. So yes, I've now been picturing just what it will be like to sit on the dock at my dream cottage, surrounded by family. I've even gone as far to figure out exactly how much I need to make this a reality. The goal-setting tool has allowed me to get specific, but also makes it easy to check in on my progress.

Building Confidence: No question, hitting the ice was intimidating when I first joined my league. I assumed everyone would be better than me. As I looked around from the bench between shifts, though, I noticed skills of varying levels and realized everyone has to start somewhere. With investing, a practice account gave me the confidence to step into the actual self-directed investing arena. Using practice money, I bought and sold stocks — which is where I chose to start — without taking on any risk while I got my feet wet. And even though I knew it wasn't "real," checking in on my portfolio regularly gave me a good sense of how I'd deal with fluctuations.

Stick on the Ice: That's likely the advice my fans (read: family) give me the most when they watch me play hockey. When I've got my stick on the ice, it means I'm paying attention to what's happening around me and am ready for the next play. Taking on my own investing means I've been paying closer attention to my accounts than I used to, and staying more in tune with what's going on when it comes to the economy and corporate deal-making. My social-media feeds give me a good idea each morning about significant events, but the Research tab gets me specifics like corporate and market news, index levels, commentary and more. Digging into detailed quotes has also been fascinating — even though I'm not sure I'll ever have a solid handle on that "technicals" tab!

The Right Fit: Being happy with my hockey "career" has meant knowing myself well enough to know what level I'm comfortable playing at and how many times a week I can hit the ice. (Twice, BTW – once indoors, once outdoors in those peak winter months). And one thing I've learned about myself: there's no way I'm jumping the boards during shift changes. That's just outside my comfort zone! It's the same with investing as I figure out how much time I've got to dedicate and what my comfort level is risk-wise — which is helping guide my portfolio choices.

While I'm not expecting to make it to the pros — either in hockey or investing — I take heart knowing one's never too old to try something new...and love it!