Build Wealth Like You Train for a Race
Joseph Shalom
Nobody wakes up one morning and becomes a great athlete. Even the most talented basketball players don’t just roll out of bed and sink every shot. They train consistently, practice the basics, and build their skills one day at a time.
I know this because I am a runner. I ran my first half marathon in 2014, the Disney SBH Half Marathon. I barely trained and just pushed through to the finish line. I didn’t think this event would start my journey to become a runner; I just thought it would be fun to hang out with my friends.
It wasn’t until Covid that I started taking running seriously. At first, I couldn’t run a mile without stopping. I wasn’t fast, and long distances felt impossible. But over time, I improved. I got faster, became more consistent, and today I consider myself a solid runner.
A few months ago, one of my colleagues suggested I try a triathlon. I knew I had the running part down, but I didn’t swim or bike much. He pointed out that the season was almost over, and if I skipped it, I would have to wait a full year for the next one. So I decided to go for it. I wasn’t going to be the fastest or the most prepared, but I wanted to do it. If I waited, something else would always come up, and I might never start.
That same mindset applies to investing. Nobody wakes up with millions to invest. Success is built the same way athletic ability is built—through consistent habits and small steps over time. At some point, you must stop waiting for the perfect moment and just start.
I see a few clear similarities between investing and training.
- Training Schedule and
Dollar-Cost Averaging
When I first started getting serious about running, I needed a routine, otherwise I would always find an excuse not to run. I got a training manual and stuck to it, planning which days to run long, which days to run short, and which days to focus on speed.
The same applies to investing. There is always a reason not to invest, but that is where dollar-cost averaging comes in. Pick an amount and invest the same every month, whether the market is up or down or whatever else is happening in the world. Consistency is the most important factor. - Patience and the Power of Compounding
In the beginning, it doesn’t feel like much is happening. From one week to the next, my speed stayed about the same, and my distance may only increase a little. Over time, though, it really makes a difference. Back in 2020, I was probably running a 9-minute mile. Today, I can run between 7- and 8-minute miles. That’s almost 20 percent faster, not to mention the distance I can now cover. This didn’t happen overnight. The more I trained, the stronger my muscles became and the more my endurance improved.
The same applies to investing. When you start out, it may feel like you are barely making progress. One down year can even feel like going backward. But over time, consistent effort adds up, and growth begins to compound. - Training With Others and Working
With a Financial Advisor
One of the things I love most about running is doing it with others. Earlier this year, I planned to run only 4 or 5 miles. About three miles in, I ran into another runner I know. He said he was planning to run three miles, so I joined him. We kept going, both feeling strong, and ended up running much farther. He ran six miles, and I ended up running 13. I left my house with no intention of running a half marathon on a random Sunday, but running with someone else pushed me beyond what I thought I could do.
The same is true in investing. Having someone to help monitor your goals, keep you on track, and hold you accountable is what a financial advisor does. They cannot make you invest, but they can help you stay consistent, disciplined, and focused on reaching the goals you set for yourself.
I ended up doing the triathlon. My swim was weak, my biking was okay, and my run was great. But I am very happy I did it. I learned a lot and now I know exactly how to train for next year.
Investing works the same way. You don’t have to be perfect when you start, and you don’t need everything figured out. What matters is that you begin, stay consistent, and learn as you go. Over time, effort compounds, and results grow in ways you might not even notice at first.
As Wayne Gretzky said, “You miss 100% of the shots you don’t take.” The only real mistake is never taking one. Start today, stay consistent, and let time and discipline work in your favor.
Joseph Shalom is a financial advisor with the Power Forward Group and loves helping his clients ‘run’ their financial lives. Some goals are like marathons that require more long-term thinking to get there, other goals are like the 100-meter dash that are closer in sight. Each requires your training to start now. What’s stopping you?
