Over the years, I’ve observed some interesting parallels between these two important areas of life.
As a coach in endurance sports, my focus was always to help my clients achieve their athletic goals. Similarly, in wealth management, I’m focused on helping my clients achieve their objectives, but in this case, their financial goals. In this second article of a three-part series, I’ll explore a common challenge that arises in both sports and personal finance.
Challenge 2: Dealing with a Lack of Positive Results
Everyone loves to see progress, especially when they’ve invested time, effort, or money into a plan or expert advice. But what happens when the results aren’t what you hoped for? Whether it’s your 5K run time or the growth of your RRSP portfolio, no one likes to see stagnant or declining numbers. Here are some insights into why you might not be seeing the progress you expect and what you can do about it.
Checking Too Frequently
No one is more data-driven than a triathlete. They tend to have the most devices and capture data from every swim, bike and run workout. It’s exciting to have instant access to your workout results, with apps like Strava, Garmin, or Training Peaks providing detailed analysis. However, the biggest mistake you can make is expecting to see improvements daily or even weekly. A particular progression might take 4 weeks or 3 months, and then another 4 weeks to see those improvements. These cycles are part of how humans adapt to training stress, which takes time. Each workout is a small contribution to a larger goal, and with the right planning and oversight, the results will be visible – but not immediately.
Similarly, checking your investment portfolio too often can lead to unnecessary stress. Regular savings and investment are excellent ways to build a retirement portfolio, but the downside of frequent monitoring is that you’re more likely to notice the normal fluctuations in the market and economy. Building savings and seeing upward trends take time. Once you have a solid investment plan and a trusted advisor, it’s often best to set it and forget it for six months or even a year.
Focusing on the Wrong Metrics
What’s the number one metric most athletes focus on? Speed. It seems logical—if your speed is increasing, you must be improving, right? Not necessarily. For example, using speed to evaluate your performance in a road cycling workout is nearly useless due to factors like wind, road friction, and your physical condition on a given day. As a coach, I focus on different variables and calculations that offer a more accurate picture of what’s really happening.
I’ve seen similar issues in personal finance when people misinterpret investment statements. For example, if your portfolio shows 50% growth, can you determine how long it took to achieve that growth? Was it one month or five years? Proper expertise and an understanding of how to evaluate these results can reveal where true improvements are being made, even if they’re not immediately obvious.
Misunderstanding the Purpose
Once you understand how to interpret data, knowing the purpose behind your workouts or investments is crucial to seeing results.
Athletes often fall into the trap of training in a “grey zone”. This effort is too intense for endurance work but too slow for speed work. A good coach will slow you down when necessary. At first, working out at a slower pace might feel uncomfortable, and your heart rate might be unusually high. The results of these workouts can feel discouraging. What’s the point? A skilled coach will exercise certain zones when appropriate to help build you towards your larger goal.
Similarly, are your investments aligned with your financial goals? Lowering risk and holding income-producing assets might feel like a slow run—steady but without much growth. Understanding the purpose and strategy behind your investments will help you appreciate the outcomes and feel more confident about the progress being made.
Final Thoughts
Progression in endurance sports is rarely a straight, upward trend, and the same is true for investment results. In fact, if you do see a consistent, linear pattern, it might be a red flag. It’s normal to feel discouraged when progress isn’t immediate or obvious. Instead of reacting impulsively, take the time to investigate why by speaking to an expert. You may be surprised to find that you’re right on track—and you might even be excited about the different results you’re achieving.
Disclaimer: This article is for general information purposes only, and is not legal, financial, or tax planning advice. Everyone’s situation is unique, and this article cannot apply to every person. The reader should not take any action, or refrain from taking any action, as a result of this article without first obtaining legal or professional advice.
