I recently went camping, where I was off the grid for a few days. Not long enough, but better than nothing.

I couldn’t help but reflect on how similar camping and investing are.

Plan carefully: For starters, both camping and investing require careful planning and preparation. Before going camping, it’s important to research the location, check the weather forecast, and pack the necessary gear and supplies. Similarly, before investing, it’s crucial to research potential investments, look at the pros and cons of each one, and develop a strategy based on your financial goals.

Plan for the unexpected: Furthermore, both camping and investing require a level of risk-taking. When camping, things go wrong that you don’t expect. It could rain, you might have forgotten to take something to store water in (yes, guilty!), or there could be animals hovering around the campsite. Likewise, investing comes with risks, such as market fluctuations and potential losses. However, just as a seasoned camper will take precautions to minimise risks by checking the weather or having a list of things to take camping, a prudent investor does the same. They will diversify their investments and invest in assets that suit them and their goals.

Another similarity between camping and investing is the importance of patience and resilience. When camping, it’s essential to remain patient and adaptable. After all, camping should be enjoyed, not be stressful. With investing you need to remain patient during market downturns and have the resilience to weather any financial storms.

Investing is like camping

Embrace the opportunities: Both camping and investing can also provide a sense of freedom and independence. When camping, you have the freedom to explore the outdoors, disconnect from technology, and connect with nature. Similarly, investing allows you to take control of your financial future and make decisions that align with your goals and values.

Additionally, both camping and investing offer opportunities for personal growth and development. When camping, you learn new skills and push your physical limits (I certainly felt it the day after that 10km hike but it was worth it to see that waterfall). It is also a great opportunity to remind yourself of the wonderful things nature provides. Likewise, investing can teach you important lessons about financial management, risk-taking, and decision-making.

Be flexible but enjoy the experience: Both camping and investing require a level of adaptability and flexibility. When camping, you may need to adjust your plans based on unexpected weather conditions or other circumstances. Similarly, in investing, you may need to adjust your strategy based on changes in the market or your personal financial situation.

Finally, both camping and investing can be enjoyable and fulfilling experiences. Camping allows you to disconnect from the stresses of everyday life, spend time with loved ones, and appreciate the beauty of nature. Investing, on the other hand, allows you to work towards your financial goals, achieve financial independence, and create a better future for yourself and your family.

We specialise in helping professionals put together a financial plan that helps them live their ideal life. If you are interested in getting an independent financial plan that helps you achieve your goals, book a chat via the button below or contact us at team@constructwealth.com.au.

About the Author
Phil Harvey is an independent financial adviser. In 2017 Phil set up his company Construct Wealth to help clients best manage their finances so they focus on what is important to them. He is a founding member of the Profession of Independent Financial Advisers and a tax financial adviser, registered with the Tax Practitioners Board.

General Advice Warning
This advice contains general information. It may not be suitable to you because it does not consider your personal circumstances. Phil Harvey and Construct Wealth are authorised representatives of Independent Financial Advisers Australia (AFSL 464629)

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