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Five Wealth Lessons from the U.S. Open

As I watched Gauff, Sabalenka, Djokovic, and Medvedev battle it out on the courts, I couldn't help but think about five similarities between professional tennis players reaching the peak of their sport and building wealth (yes, this is actually how my mind works!).

Meme of woman dancing on tennis court
  1. Behind the Scenes Work: We are watching three hour matches, but what we don't see is how these four competitors made it to the finals. The countless hours of practice, years of consistency, patience, and sacrifice. As tennis legend Pete Sampras said, "I made it look so easy on court all those years. No one realized how hard I had to work. No one realized how much I had to put into it." Wealth is typically built when no one is watching. It's about putting in the hard work and making the right sacrifices. This is easy to forget, especially in today's world of social media where everyone appears to be wealthy in the highlight reels they post!

  2. Psychology is a Big Part of the Game: Building wealth is primarily psychological. It's learning to create a wealth mindset that's critical. As former number one player Martina Hingis said, "I didn't have the same fitness or ability as the other girls, so I had to beat them with my mind." You may not have the same salary, education, family dynamic, etc. as your neighbor, friend, sibling or colleague, but the great equalizer is your mindset. Knowing our natural human biases, your innate tendencies, and how to overcome them, is arguably the most important step towards wealth.

  3. Perspective: Rafael Nadal said, "It is only a tennis match. At the end, that’s life. There is much more important things." We live in a society where we always want more. This is the same with wealth and it can be all consuming, but it's important to keep perspective. Wealth is a critical component to happiness, but it's not the only piece of the puzzle. Being grateful for what you have and being able to build wealth to share with others in need (charitable causes, etc.) provides tremendous value.

  4. Long-term Plan and Short-term Wins: Wealth creation takes decades of consistently implementing a long-term plan. If you don't trust your long-term plan, you will never find success. It's a marathon and not a sprint, so it's critical to have short-term goals too and celebrate your wins along the way to keep you motivated. As Roger Federer said, "You have to believe in the long term plan you have, but you need the short term goals to motivate and inspire you."

  5. Coaching: Coaching is a critical element of tennis. As Serena Williams said, "A good coach can see things that you can't see yourself." Serena's sister, Venus, once said, "A coach is someone who believes in you when you don't believe in yourself." These two quotes demonstrate the impact that coaching had on two of the best tennis female tennis players in recent years. In my opinion, a great financial coach is an accountability partner, a guide, a teacher, and an expert.

An infographic about what you to wealth coaching

Ultimately, the U.S. Open provides great lessons in working behind the scenes, building the right mindset, keeping perspective, having a long-term plan, and partnering with a great coach. These five elements were critical to the success of Gauff and Djokovic who won this weekend's U.S. Open, and they are equally important to your success building wealth!

If you are looking to work with a wealth coach, please schedule a free introductory meeting! For just $5/day, it’s the most affordable way to access professional help.

Disclaimer: The information in this post is provided for your convenience only and is not intended to be treated as financial, investment, tax, or other advice. The information is intended to be educational and is not tailored to the investment needs of any specific individual.  It is also not intended to be relied upon as a forecast and is not an offer or solicitation to buy or sell any securities or to adopt any investment strategy.  The opinions expressed are those of the author.  Reliance upon the guidance and information in this presentation is at the sole discretion of the individual.


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