You don’t need to earn millions in order to be a millionaire and you don’t have to be a millionaire to enjoy the rich sport of kitesurfing. Many people believe that they can become rich from what they earn. By pursuing money on a daily basis they forget that the formula for wealth is very simple: spend less than you earn and invest the difference.

However, many people live the opposite way. They spend almost everything they earn and borrow high-interest payday loans to cover expenses without even thinking that they will have to pay it back the following month. This method of living is one of the fastest roads to debt and financial destruction. If you’re an avid sports enthusiast, you may have tried kitesurfing. If not, I highly suggest you give it a try. Not only is the sport itself challenging, it has a lot to teach everyone about life…and investing.

Learning how to kitesurf can help you become a better investor. For example, to be a good investor, it helps to know how basic accounting before investing. To kitesurf, you’ll need to learn how to fly the kite before adding the board. With the right skills in place, you can quickly learn to kitesurf while taking the challenges of the sport and applying them to the financial aspect of your life.

Learn the basics
During your kitesurfing lessons, be prepared to drown…more than once. Falling off your board is simply part of the process. The more you practice, the less often you’ll fall. With investing, start with small amounts and learn to take your lumps early on. You’ll learn a lot more from someone who has gone through a 50 percent drawdown than you will with someone who has never experienced a setback.

Throttle control
It’s imperative that you never go full throttle on your kiteboard, and if you do, keep yourself together by not panicking when you crash. If you panic, you’ll end up lost and confused. In the investment world, same thing. Learn to stay away from financial leverages and when the market blows up — which is sure to happen at some point — don’t panic. Release the throttle and allow yourself to drift into a safe landing.

Upwind versus downwind
Experiencing the thrill of flying downwind on your kite is exhilarating and a great way to build confidence, however, you’ll also need to learn how to fly upwind. This process is often difficult and frustrating — but having this skill may very well save your life. Being a good investor means knowing when to go with the flow of the market. Having the ability to make money in the market is a skill, especially when high winds are pushing you out to sea.

Safety first
One of the best ways to enjoy kitesurfing is to focus on learning the safety techniques first. While this aspect of the sport can be boring, again, it just may save your life. When it comes to investment opportunities, quick money-making schemes that sound overly complicated but promise high returns may not be the safest choice. Focus on learning about things such as barrier options versus buy-and-hold equity and know which one offers the best safety net.

Remember, life is about choices. It’s about becoming better at what you do by overcoming challenges, skills kitesurfing is known to teach. Becoming a better investor is also about overcoming challenges and making the right choices.

 

Article Author: Smiljan Mori is the founder of MindOver™ Network, Brilliant solutions for Performance, Motivation and Happiness. He is also the creator of Financial Independence Academy TM , the Kitepreneur NetworkTM and Kitepreneur Business Success AcademyTM. He has literally created a successful business and coaching empire from scratch and is a best-selling author and motivational speaker who brings unparalleled professional experience and the latest scientific research from neuroscience and positive psychology to audiences around the globe. He has shown more than 150,000 people from 50 countries how to change their lives for the better.

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Article References:
Motivaction For Life by Smiljan Mori
Turnkey Analyst

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