In “What Pickleball Can Teach You About Investing,” Jacob Schroeder, writing for Kiplinger.com, demonstrates how you can apply everyday lessons to your investing and financial planning…if you pay attention.
Pickleball isn’t tennis but it has some things in common with tennis. In pickle ball, the players use paddles to hit a small plastic ball over a net. And if you didn’t know, pickleball is popular with retirees. There are pickleball tournaments at community centers and most players are in their golden years. The author of this article played the sport outdoors as a way to get some recreation and follow pandemic precautions. The writer warns pickleball players to be mindful of risks, just as investors need to be aware of what is at stake. Any sport can cause injury. The plastic ball used in pickleball is much lighter than a tennis ball, and this is one factor that makes the game good for certain retirees. The same goes for investing: you do have to consider your age. A Fee-Only financial planner can help you create a plan for investing that suits your age and other personal factors.
Schroeder compares the fact that pickleball mixes elements of three sports (badminton, ping pong, and tennis) to having a diverse investment portfolio. Sometimes combinations can lead to better results. Retirees could play any one of the three sports mentioned but they are drawn to pickleball because it combines elements of all three.
The price of entry into pickleball is low; you do not have to spend a lot of money to play. The article also says that investing should not cost a lot. If there are cumbersome fees and trading costs, it is not as fun and there are diminishing returns.
The writer says he is not sure what it took so long for him to try pickleball since it is not a complex sport. He admits that investing isn’t as simple as pickleball but he addresses hesitancy. People who are waiting for just the right time to invest are missing out as he missed out on playing a fun sport.
He also says that “Chasing after an errant whiffle ball that takes an unexpected turn midflight or an unusual bounce is a waste of energy.…it’s better to follow a game plan and ignore the occasional fluke. Likewise, the market can move wildly on any given day.” and that you should not let that get you off track.