Investment Ideas from an Athlete-Investor’s trek to the top.
Welcome to the last blog in a series of 5 blog analogies that came to me as I slogged to the top of Kendall Mountain in the Kendall Mountain half marathon on July 20th in Silverton, CO.
CHECK IT OUT: Kendall Mountain Run
Time to Upgrade or Add to Your “Equipment?”(#5 of 5)
Standard Race Equipment:
Traditional running shoes.
Standard running socks.
For the Kendall Run, the above list wouldn’t have sufficed—it would’ve promised a miserable race. 6 miles straight up on a rock covered “road” is not your typical race. No investor wants a miserable race. What equipment do you need to upgrade or add to your race/investing arsenal?
What I did race with, however:
Trail shoes—AKA suitable for the terrain and a much bigger size than usual (running down hill for 6 miles is a perfect setup for “toe-bang”). HMMM: What investment gear do you need that is suitable for today’s market terrain and is it time to re-size your advisor? Read about how we rank asset classes in order to assess the current terrain for preparedness and be prepared to give your current advisor a mental report card. Download the Liberated Investor Ebook at www.liberatedinvestors.com (look for Strategy #2 about assessing investment terrain and Strategy #4 & #5 about assessing your Advisor)
Socks: HIGH socks that prevented rocks from getting in—AGAIN, gear, suitable for the terrain.
Camelbak: I wasn’t going to rely on water stations to hydrate me. And thank goodness I didn’t: Some stations ran out of cups! 4.5 hours is too long to go without hydrating! AND, by having my own supply…I didn’t have to SLOW DOWN. What parts of your investment process slow you down or are you relying on that have failed your retirement nest egg?
Trekking poles: Not everybody used them, but I did. They were a confidence builder the whole way up, knowing the weak spot in my game (my new ACL/knee!) would have sturdy support on the last quarter mile scramble up to the rocky summit. Get your own support system in place for the weak spots in your portfolio management; Strict RULES, a trusted advisor and reliable data (my data source: www.dorseywright.com)
Bottom line: Evaluate your equipment today—Upgrade and Add: Get Liberated!