Yes, the word is fartlek. The term is unique and an attention grabber. It is also very useful, not only in its intended purpose as a form of exercise, but it’s structure and purpose can be implemented into everyday life and, of course, financial planning. Fartlek is a Swedish word meaning “speed play”. It is used by many sports teams for conditioning and to spice up running regimens. Instead of going on a run or jog, a fartlek consists of running with different speeds and is extremely flexible in its format. A sample fartlek track workout consists of sprint the straight away, jog the corner, do a set of pushups, sprint the straight away, jog the corner, do an ab workout, then rinse and repeat. It can also be added to the usual run around the neighborhood at a consistent speed then at the end sprint for a block, walk a block, sprint a block, and so forth. People do this for time or distance. The idea is the variation of speed and intensity. While enjoying a fartlek recently, I found myself thinking about my day and the “to dos” that needed to be accomplished. It hit me that fartleks aren’t just a more enjoyable way of running but could be implemented as a way of life. I know that may seem biased and a little much (especially if you just heard of fartleks two minutes ago based on your reading speed), but it does hold some truth. Throughout life, no matter what stage, there are things that need to be completed. Some of these are enjoyable and some are not but they all need to be checked off the “to do” list. Things that just need to get done and don’t have to be perfect, can be sprinted through. Things that are enjoyable, purposeful, and worthwhile, please allow yourself some grace, walk through those times, and soak them in, because you may not get them back. Life is rarely consistent. Everyone is different with unique situations; financially, professionally, family and otherwise, and things change. Easily jogging through life doesn’t exist. There are speed bumps and hurdles. Some are easier to maneuver than others but having a plan when to sprint, run or walk can be paramount, not only for a workout but for anything that is important in your life that is worth dreaming about and worthy of your best effort.
When developing a financial plan, there is a process that we follow. We meet with people and have robust discussions about their goals, wants, and wishes for not only them, but their loved ones, causes they are passionate about and things that are overall important to them. After knowing this, we talk about what they currently own to help them reach their goals, assets, and what may need to be accumulated and exactly how to go about doing this to turn their dreams into reality. We lay a roadmap out to help achieve their dreams. Some action items can be completed quickly and implemented immediately, while others take years. Life isn’t a jog at a constant speed. Sometimes we sprint though sections and sometimes we must catch our breath and walk for a bit. The important part is to always move forward, no matter what the distractions, news stories, market swings or speed bumps are.
Please let us know when we can help you or your loved ones develop a plan to achieve what is important or to mitigate a risk (that you may or may not know about) that could derail an already established plan.
Written by Leon Bennett, Chief Operating Officer, Majestic Financial, Financial Consultant, RJFS
*Any opinions are those of Leon Bennett and not necessarily those of RJFS or Raymond James. The information contained in this blog does not purport to be a complete description of the securities, markets, or developments referred to in this material. There is no assurance any of the trends mentioned will continue or forecasts will occur. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Please note, changes in tax laws may occur at any time and could have a substantial impact upon each person's situation. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.