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Mile 6 | The Retirement Race - It’s a Marathon, Not a Sprint

Consistency is queen. When it comes to your retirement strategy, forming and honing your money habits is key for going the distance.

Let’s face it, you cannot log one training run in a week and expect to get results - let alone slay your big race.

The best training is rooted in consistency, which naturally comes from forming habits that get you out the door and help you stay motivated to lace up your sneakers multiple times a week.

In the context of training, habits that drive consistency may look like:

  • Planning your goal mileage for the week

  • Scheduling your runs on set days and times

  • Eating a decent meal so you’ve got gas in the tank

When it comes to forming these habits that make us go, I am a fan of creating solutions that take choice out of the equation and make follow through as seamless as possible. Building on the previous examples, these solutions may look like:

  • Use a running app like Strava to plot your running route to reach your goal mileage

  • Put your “run dates” into your calendar - block the time and treat them as priority appointments

  • Prep your meals the night before so you don’t have to think twice about reaching for the right pre-run snack

Strategies for success in finances are much like training in this regard. Consistency over time is worth its weight in gold. To get there, it helps to take the guesswork and constant decision making out of the equation. In short, as often as possible, set it and forget it.

The best example of this is a 401K contribution. The first month, that auto-withdrawal missing from your paycheck may sting, but, soon enough, you don’t realize it’s gone.

Fast forward to the end of the year, and you’re looking at how those monthly contributions you forgot to miss have added up to healthy growth for your retirement portfolio. Seeing this, you may even be motivated to up your contribution a bit or put another process in place to streamline your investments.

Again, we’re back to consistency winning, due to habits that came from seamless solutions.

Some are adept at being their own barometer, but many of us need an accountability buddy. Whether it’s waiting for you at 6AM to log those early miles or checking in to make sure your savings plan is on track, team work makes the dream work.

Looking for your accountability buddy? Pick us! Get in touch with us today to learn more about going the distance on your financial plan.


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