4 Important Lessons in Planning from the 2018 Winter Olympics

The 2018 Winter Olympics are in full swing, showcasing the spectacle of athletic achievement and perseverance. The individual, team, and national fortitude are on display for the world to witness. Here are three important lessons that you can take away from the Olympics to use in your planning:

1) Expecting the unexpected: Pyeongcheng was chosen as the site for the 2018 Winter Games in 2011, and yet there have been many disturbing pictures of the conditions, especially in the outdoor sports. Colder than expected temperatures and heavy winds have disrupted or delayed some of the proceedings. Some of the athletes even had trouble getting to their competition venues due to weather delays. In addition to planning for the best, you should also make contingency plans in case something out of the ordinary happens.

2) Long term preparation and perseverance: The athletes in the Winter Games did not just skate onto the ice, jump into skis, step into their boards, or pick up their equipment. They spent years preparing, with dedication to their plans, in order to achieve their goals in competition. Similarly, you should plan for long-term goals in steps that you can achieve and monitor the progress to make sure that you are on track as well.

3) Celebrate achievements along the way: Regardless of whether it was merely to compete, to finish, or to win, the Olympians of every nation had expectations. The road to Pyeongcheng was a long one, and along the way, the athletes reached milestones and accomplishments, on which they can look back with pride, that set them up well on the path to the Games. You too should revel in the exciting victories of retiring with confidence, paying off debts, reaching a savings goal, planning an estate, and covering education expenses.

4) Surrounding yourself with the right team: From the team sports such as ice hockey and curling to the individual sports such as skiing and snowboarding, the Olympians have selected the best people to help them prepare for glory. Be it coaches, trainers, medical staff, mental and physical health professionals, or even supportive friends and family, all of the participants have made sure that the people in their lives are working together and pulling in the same direction, putting the competitor’s needs above their own. Your advisory team should be doing the same.

Did you know? It may seem obvious, but just as there are no shortcuts to Olympic greatness, there really are no shortcuts to financial success. It takes dedication on your part as well as your team of advisors to help you navigate the terrain, regardless of how familiar or unfamiliar it appears. Feel free to reach out if you need a teammate or coach to help you along your path.

2018-03-05T16:06:55+00:00 February 13th, 2018|Financial Advice|