Tips to groom the next world class athlete

Following a grueling 1.9km open-water swim, 90km of cycling and 21.1km of running, he shares what he thinks it will take to develop a world class athlete. Interestingly, these tips can also apply to creating a world class portfolio!

Start young

Starting physical activity earlier in life gives a child more time to naturally develop fundamental movement and motor skills required to pick up any sports later.

Likewise, starting financial planning and investing early also gives you an edge. Not only does it allow for a longer investment horizon, so you can take on more risks if desired, you can also benefit from the power of compounding.

Train smart

Everyone has their own strengths and weaknesses, so go for it only if your child has the talent for the sport and the potential to become something more.

It’s the same with investments. Not all investments suit individuals in the same way; they need to match one’s specific needs and risk appetite.

Be patient

Children’s performance can fluctuate as their bodies adjust to physical changes and growth. There are also mental aspects of sports that they need to face. Don’t push the child for short-term success. You may risk jeopardising the long-term benefits in the process.

Investments too take time to bear fruit. Stay invested and avoid trying to time the market. You may miss out on the market’s best performing days and reduce your returns significantly.

Know the costs

Raising an athlete involves training and equipment costs, travel fees, registration fees for competitions… the list can go on. But all these are essential so be prepared if you’ve decided to go for gold.

Even if you are not raising an athlete, you are likely to have expenses that you need to meet. Setting your financial goals is an important first step. Saving and investing to meet those goals are the important next moves!

Have a good support team.

Athletes are vulnerable to the stressors of the game and performing at high levels. It is important that they receive social support from family and friends, say researchers¹.

Investing can be stressful especially when markets fluctuate. Find out how having a diversified portfolio can reduce the swings. Get tips to become a better investor in Eastspring’s Greenhouse.