Like Exercise, Long-Term Investing Requires Persistence and Patience
Dave Rowan, a CFP from Rowan Financial reflects on the parallels between financial and physical wellness. Learn how to exercise your investment skills.
"As a lifelong exerciser, I know how important consistent physical activity is to one's health. And as a financial advisor, I see how this concept parallels the benefits of developing and committing to a long-term investing strategy.
"Over the years, I’ve observed three main similarities:
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"Sometimes, it’s no fun - everyone knows that exercise is good for you. But let’s face it, sometimes it stinks.
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"Aggressive short-term strategies often don’t work - just like there are no “get fit quick” schemes, there are no “get rich quick” schemes for investors. I learned some hard lessons early on as investor.
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"Diversification matters - I have gravitated toward a mix of cardio exercise with yoga and some light work with free weights. Similarly, it’s important to have a diversified investment portfolio that is ready for any opportunities or threats that the financial markets may throw your way."
While our staff at Stout Bowman can't claim that we'll always make financial planning fun, sitting down with one of our financial advisors should make it a lot less painful.