Be flexible, but don’t lose sight of long-term plan

I HAVE fallen in love with trail running over the past few years. Apart from running outdoors on our beautiful trails chasing mountain tops and the fitness that comes along with it, I have found that the ultimate reward is the challenge of one’s resilience and how you can tinker with your game plan along the way for ultimate success.

Last weekend I took part in the Maxi Race South Africa 75km trail run in Franschhoek. My goal was to approach this race as a training run, testing my gear and nutrition with the goal of successfully completing the RMB Ultra-trail Cape Town 100km event at the end of the year.

Unpredictability

The day started out just as planned with great weather, legs feeling strong and amazing views to distract the mind. However, 38km into the race I started to realise the unpredictable nature of trail running as a sport.

Nausea set in, which is not a good sign and something you need to monitor seriously while out in the open. At this stage and throughout the run I had to rely on my training and game plan set out before the run – adapting to my circumstances and trusting in my plan was what it was all about. I finished roughly within my goal time and in a good mental space, confident that I could tackle the next challenge.

Trail running, like investing, is all about your ability to adapt to new circumstances.

If 2021 and 2022 is anything to go by, this may be your character trait that has been tested the most. As we experience the ups and downs, it is up to you how you want to deal with them.

They can sharpen your life skills, in the end making you a more resilient and competent investor. The same goes for financial planning.

Referring to my run, you would not be mistaken for feeling as if your investment portfolio was entering kilometre 38 with your long-term goal of kilometre 75 fast fading into the distance as a far, uphill stretch.

The easy way out is to cash in and wait for things to feel better before getting back into the race. Numerous case studies prove that this is often not the best long-term investment decision. As with my run, “cashing in my chips” at the time was so tempting, with thoughts of jumping into the comfort of a bakkie, aircon roaring and an ice-cold coke in hand.

However, I wouldn’t be in the position I am in today, where I can reflect on the race feeling confident in my abilities to achieve my goal – a goal that has been made achievable with the continued guidance and support of my training coach.

Trusting the process

Throughout your financial journey you will be faced with many challenges that will question your plan. What makes a good long-term investor is the ability to structure and commit to a sound financial plan while at the same time holding that plan loosely enough to adjust along the way. Trusting a sound process will ultimately get you to that finish line!

I know this is easier said than done.

However, during times of uncertainty, the best course of action for investors is to stay calm during the crisis, ensure their investments are adequately diversified, and maintain an exposure to long-term themes.

As with any major endeavour, partnering with someone who has your best outcome in mind will make those unpredictable testing times that much easier to navigate.

A certified financial planner (CFP) can assist you during these trying times. These professionals are well versed in the financial services industry and equipped to navigate the vast investment universe. If you don't have an adviser and would like to set up an appointment, visit https:// fpimymoney123.co.za for a list of CFP professionals near you.