As the 2024 Olympics kick off in Paris this week, millions around the world will be inspired by the incredible feats of endurance, skill, and dedication displayed by athletes. Among these athletes, the marathon runners and long-distance swimmers stand out for the physical and mental perseverance necessary to compete. These qualities, essential for athletic success, also mirror the principles needed for effective financial planning and faith-based investing.
Just as athletes train consistently over time to achieve their goals, so too must we manage our finances with discipline and perseverance, both in the actual nuts-and-bolts financial aspects but also in the mental and emotional aspects that accompany financial planning and investing.
The Marathon of Financial Planning
Long-term financial planning is less like a sprint and more like running a marathon. It requires a clear, often long-term goal, a well-thought-out strategy, and the perseverance to stick with the plan despite the inevitable challenges along the way. Consider Olympic marathon runners. Their goal is a gold medal but they need the strategy, training, physical fitness, and mental toughness to reach their goal.
Abebe Bikila was the first Ethiopian to win an Olympic gold medal. He won gold in the 1960 Rome Olympics winning the marathon in world record time…while running barefoot because his newly purchased running shoes were a poor fit! He successfully defended his marathon title in the 1964 Tokyo Olympics four years later. His triumph was not just a testament to his physical prowess but also to his unwavering commitment and focus on the goal.
In the realm of financial planning, setting a long-term goal is akin to deciding to run a marathon. Whether it’s saving for retirement, funding a child’s education, or investing in a faith-based portfolio that aligns with Christian values, the journey requires a steadfast commitment to the end goal. Along the way, you experience highs and lows and may need to make adjustments and course corrections.
Just as athletes chart their training regimen and strategy with the help of a coach, you can create a long-term financial plan with the aid of a financial planner who will help you stay focused on your long-term goals and how to achieve them.
Faith-Based Financial Planning
Interestingly, the Apostle Paul uses a running illustration in his letter to the church in Corinth, which was home to the Isthmian games.
“Do you not know that in a race all the runners run, but only one gets the prize? Run in such a way as to get the prize. Everyone who competes in the games goes into strict training. They do it to get a crown that will not last, but we do it to get a crown that will last forever. Therefore I do not run like someone running aimlessly; I do not fight like a boxer beating the air. No, I strike a blow to my body and make it my slave so that after I have preached to others, I myself will not be disqualified for the prize.” 1 Corinthians 9:24-27
Paul emphasizes his single-minded focus on and dedication to his mission of bringing the Gospel to as many as possible. Paul prize, and ours, is an imperishable, everlasting reward in Heaven. Let us also run our race of faith with unwavering dedication!
As Christians, our financial decisions are guided not only by practical considerations but also by our faith and a commitment to acting as a faithful steward of the resources God has given us. Faith-based investing allows Christian investors to align their portfolio with their faith values, supporting companies and initiatives that reflect Christian principles. This approach requires careful planning, effective tools, and consistency, much like an athlete’s training regimen.
By prayerfully setting clear financial goals, developing a financial plan, maintaining consistent habits, and controlling our investing emotions we can navigate the complexities of the financial world while honoring the Lord.
Just as Olympic athletes strive for victory on the world stage, we too can strive for better stewardship and make a positive impact through faith-based investing.
As you cheer for your favorite athletes in Paris, remember the years of training, planning, and commitment that got them to Paris. Let that remind you of the importance of long-term planning and consistency in your financial life. We can run the marathon of obedience to God, including our finances, and cross the finish line to hear “Well done, good and faithful servant!”.