In my Yahoo Finance column 5 Ways Planning For Retirement Is Like a Relay Race,  I review some money management lessons applicable from a recent long-distance relay race that I participated in with a team of alumni-friends from the University of Virginia.

As a financial advisor and author, I go through life looking for illustrations that relate to money matters. Running a 200(ish) mile race that started in the mountains of Western Maryland and finished up near the nation’s capital which was interrupted by the government shutdown offered some great illustrations “that’ll preach” (which I’ve stolen from a pastor friend). Spending nearly 24 hours in two vans with a team of 12 guys added to the texture of the event.

Here’s my list of life lessons from this Ragnar relay-race:

1. Getting started is the hardest part.
2. Expect to course correct.
3. No pain, no gain.
4. Celebrate the journey.
5. Find a group that shares your goals.

My editor shared that her favorite paragraph was this one from point 5:

Doubtless you’ll need to find similar groups in the long march to financial freedom. Choosing to live below your means is a counter-cultural act of defiance to the spirit of this consumer-oriented age. Every business in the world is drumming up all of their creativity to convince you to dispense with your wealth. You’ll need accountability to resist the inevitable commercial and social pressures.

Source:
5 Ways Planning For Retirement Is Like a Relay Race
Matthew Illian

http://finance.yahoo.com/news/5-ways-planning-retirement-relay-120049038.html

October 9 2013