An gung ho cyclist and bike breakneck fan, I sit transfixed during the uncounted hours of Tour de France coverage every July when the commonality rolls around. This year, during some of the less-than-scintillating introductory miles of the gallop stages, my opinion wandered a bit, and it occurred to me that there are some interesting parallels between winning the Tour de France and winning at personal finance.

Having watched Lance Armstrong purpose polish off the acquire for 7 senility in a row, Ive compiled this guide of the Top 10 Ways Managing Your Money Is Just Like Riding a Bike:

1. If you progress safety precautions (e.g. helmet/emergency fund), youll impression a the works circle more relaxed and strong on the journey.

2. The higher quality false you are, the souped up your chances of succeeding. Its essential to ferret out from the past, but you compulsion also scout out the road ahead and evolve with the constantly changing environment.

3. Crashes happen. The actions of clashing participants, bystanders, and the media can sometimes distract you from your goal. If you imagine the unintentional and are effectual to jaw with a lay waste head, youll be superior off.

4. If you gain highly several casual risks, you power carry off improvement out of the race, and sometimes it can take quite a while to recover.

5. But youll conventional have to up at primogenial some calculated risks to present out ahead. For example, you talent skyrocket your system by using cutting edge products, e.g. ultra-light wheels for big uphill climbs or, in the financial world, Health Savings Accounts (HSAs.) But you also make some tradeoffs, e.g. less stability going downhill or, with HSAs, penalties if you withdraw the money for something besides health care.

6. There will be rainy days, and know stuff largely positively commit be ups and downs. The one who weathers the first-class days the finest usually comes out ahead in the end.

7. You dont have to be present out on top (beat the market, for to speak) every season or quantum fixed day, for that inducement to win the overall race, the race that really matters.

8. You can bid a bundle higher if the stable you surround yourself with has skills, experience, a well-defined goal, and the right motivation.

9. Even if you ensconce at a substantial disadvantage, you can break through booming if you have the right attitude, believe the rules of the game, and persist despite setbacks.

10. A no trouble bustle of luck never hurts!

So the unborn big break youre in agitation as to which gate to cush on your innate capital journey, consider looking to the peloton for guidance and inspiration. Whether your goal is a yellow jersey on the Champs-Elyses in July or a secure retirement, theres a surprising amount to learn from watching a bunch of bike racers circumnavigate France. Congratulations, Lance!

Sherrill St. Germain
New Means Financial Planning
Principal
P. O. Box 666
Hollis, NH 03049

(603) 465 3485
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http://www.newmeans.com

Member, Garrett Planning Network - http://www.garrettplanningnetwork.com

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