Warren Shute is a multi award-winning Chartered Financial Planner, Certified Coach, author of The Money Plan, and Sunday Mirror columnist
Last year when I turned 50 I decided to do something special each month of the year to mark my half century, it included things like a big holiday or something meaningful like taking that walk I always wanted to do.
It was so much fun, I decided that I would do this again in 2025. I think that’s important in life, to have something to always look forward to, and to make your future bigger than your past, sometimes the build-up, the anticipation is as good as the event itself.
When I was at secondary school there were four of us who always spent time together, talking about girls, our future and football. Sadly Kevin, one of our awesome foursome, passed away suddenly four years ago.
Life is like that, bad things happen to good people, that’s why it’s even more important to live life by design, and not default. To mark our 50th birthday, we decided to climb the national three peaks: Ben Nevis in Scotland, Scafell Pike in England and Snowdon (Yr Wyddfa) in Wales. With good intentions, we put into place our plan, our practice walks and we got started.
All our training never really prepared us 50-year-old men for our adventure. For the most part, it was long, hard and seemingly never ending. Ben Nevis was certainly the hardest with our heads down and packs on, we took each step and focused on our next stage. I see this like investing.
When we start investing we have very little money and if our outcome and sole focus is to achieve our ultimate goal, say to make £1million, it would be as disheartening as climbing Ben Nevis. But if we focus on our next step, say to get to £1,000, then to £10,000, we “eat an elephant, one bite at a time” – metaphorically of course. That’s how I have invested and how I climbed each mountain.
Everyone climbing is in the same boat, we’re all out to achieve the summit and it’s lovely to hear the support and enthusiasm along the route. And just like investing, when you know you’re nearing your outcome your enthusiasm and energy picks up, just one last push to achieve our goal.
If I started at the base of Ben Nevis thinking I had to climb the total 3,408m and then complete Scafell Pike and Snowdon, I am not sure I would have finished it. After encountering the rain, fog, snow and 35mph plus winds, when my goal was just to walk for another hour, or reach the next waypoint, it seemed so much easier to do.
When you start at the base of your financial journey, don’t only focus on your ultimate goal, say a £1million portfolio, think of your next waypoint, your next financial goal, and allow time to work in your favour.
Our time climbing the three peaks wasn’t smooth, but it’s not supposed to be smooth, otherwise it wouldn’t be a challenge. Your investment journey will be the same. You will have tough times in your life when you want to stop and pull out your investments to cover personal expenses, you’ll experience stock market pullbacks and economic recessions.
But always remember, the days go slow, but the years pass quickly. Stick to your plan, keep your head down, get a rhythm in your steps and enjoy your life. It’s the only one you have.
Just like my financial journey, it’s easier and more enjoyable when the experience is shared. I hope this column serves you as a shared financial experience, with your questions I certain feel it is for me. Let’s remember to enjoy our life, we’ll never be this young again. My next adventure… the Yorkshire three peaks, one step, or one waypoint at a time.
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