As triathletes, we are naturally competitive–we like to win! However, winning in a race is much different than winning with money.

Finances can cause abundant stress in life, but there are ways that you can design your life so that you win with money.

In this episode, you’ll learn five ways to win with money, so grab your earbuds and training shoes and press play as you set off on your long steady run.

You will want to hear this episode if you are interested in…

Plan well for a healthy retirement

As triathletes, chances are, we will live a long, healthy life. Typically, healthy triathletes will live 7 years longer than the average American. While this is fantastic news, it also means that your projected retirement just increased by 7 years. If you don’t want to be eating rice and beans in your golden years, you’ll need to plan accordingly. Start with these 5 tips for improving your financial situation.

Have a vision

Visualize what you want to do with your finances. We are all unique beings with different visions for our futures. This means you need to consider what is meaningful to you. Just winging your financial goals won’t help you achieve them.

Have a spending plan

Once you develop your financial vision, develop your spending plan. Just like in your races, willpower alone won’t help you achieve your goals. Come up with a plan of action to implement that vision when the time comes to make hard decisions.

Start with your goals to plan for the big expenses before getting to those monthly expenses. Sticking with a plan is not always easy but having a plan to back you up can help.

Use your resources wisely

We are all limited by time and money. While we would rather be doing other things than planning our finances, we need systems in place to ensure our success.

Respect your vulnerabilities

Just because you are projected to live longer than others doesn’t mean you will. None of us are invincible so we need to protect ourselves against unforeseen circumstances. Make sure you have all the appropriate insurance to meet your needs. Do you have enough medical, life, disability, property, and liability insurance?

Develop a winning perspective

While comparison is the thief of joy, there is an instance where it is healthy to compare. When you compare yourself with others or your portfolio to the S&P 500 you can rob yourself of happiness. However, comparing your present situation with your former situation can give you a valuable metric to see how far you have come. Focus on your wins to develop a winning perspective.

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