What an absolutely incredible event the London marathon really is.
Yesterday’s edition, the 45th, set a new world record for the number of finishers, with more than 56,000 runners completing the 26.2 miles, surpassing the previous record of 55,646 set by New York in November.
Kenya’s Sebastian Sawe won the men’s event in a great time of 02:02:27, while Ethiopia’s Tigst Assefa surged to victory in the elite women’s race in 02:15:50, a world record for a women’s only field.
Others were still finishing hours later, well into Sunday evening.
Yesterday’s London marathon, like the previous 44, saw millions raised for charities, taking the total to well over £1 billion.
Watching all those amazing athletes, from the elite to the fun runners, the parallels between marathon running and saving were clear.
Both are long-term commitments. Completing 26.2 miles requires a lot of preparation. You don’t wake up one morning and decide to run a marathon. Start training early, and keep it regular and consistent.
Similarly, building wealth takes years of living below your means and consistent saving, of following a plan carefully built by an expert.
Successful financial planning demands building sustainable habits. Start saving early, but slowly, and accelerate later in life. Don’t begin too fast and burn out later.
Settle on a pace that’s right for you, to ensure you finish the race. Aim for consistency.
Similarly, savers should manage risk carefully to ensure financial shocks along the way don’t prevent them reaching the finish line.
Work towards a goal, whether that’s a time in which you’d like to cross the line or the kind of retirement you’d want to enjoy.
Recognise things may become uncomfortable from time to time, whether that’s because of short-term economic and market uncertainty or because of “hitting the wall”. Pain’s temporary.
Both long-distance runners and savers require perseverance, patience, focus and discipline.
Both also demand sacrifice and delayed gratification. Don’t eat that Snickers, do pull on your running shoes and get some more miles in. Don’t buy that sports car, do maintain your savings commitments for a better retirement.
Put one foot in front of the other, again and again. Keep moving forward and stick to the plan. We can help you get to where you want to be.
As always, thanks for listening.
Martin.
Martin Brown, managing partner at Continuum, was talking to Gary Parkinson, former financial journalist at The Times and BBC.
Gary Parkinson
Media Relations
T: 0345 643 0770 M: 07756 668500
garyparkinson@mycontinuum.co.uk / press@mycontinuum.co.uk
