Life's Marathon

Levin, Ross
February 2002
Journal of Financial Planning;Feb2002, Vol. 15 Issue 2, p24
Academic Journal
In this article the author describes lessons learnt by him from a marathon. He states that he first sets a goal for himself and in spite of tremendous obstacles, he somehow achieves it. He asks himself if this isn't the very basis of financial planning. He identifies what matters most to his clients and tries to create a life for them where they experience it. They often have setbacks (bear markets, job changes, health issues), but the setbacks are temporary and beatable. He believes that if one really knows what he wants out of life, he will do what it takes to get it. He also learned about competing objectives. In financial planning, this means that when one has objectives that may be in conflict with each other, one must moderate his expectations. Running the marathon was a goal that the author established way back when he was 23. He therefore believes that he should have stayed with his original goal of completing, not competing. Articulation of goals is very important according to him but one also needs to articulate what impact those goals may have on the other aspects of his life.


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