Defy The Odds And Master Your Financial Mind

Most people never set a goal and aimlessly go through life never achieving anything meaningful. Such are the people who ask 'Why?' when they hear of people of go to extremes to achieve what most people would never even remotely contemplate; this is pertinent to the financial aspects of life.

In my recent The Illusion of Wealth: The Cost of Trading Time For Money post I list Can’t Hurt Me: Master Your Mind And Defy The Odds by David Goggins as one of the books I am currently reading. While reading it, I can't help but relate his key messages to the financial aspects of life.

One of Goggins' key messages is that we all run our own race. Continually comparing yourself to others is pointless because we are all distinctly different.

If, for example, the financial aspects of your life are a complete mess, there is no reason why it must remain this way. Be honest with yourself when analyzing what led to this predicament and make it a mission to change. Depending on your circumstances, the road to financially freedom might feel like you are participating in an extreme physical endurance challenge.

By extreme physical endurance challenge, I mean extreme physical endurance challenge!

There are countless feats of superhuman endurance but two that readily come to mind are:

• The Barkley Marathon (aka 'The Race That Eats Its Young')
• The Backyard Ultra Marathon (aka 'The Last One Standing')

The Barkley Marathon (aka 'The Race That Eats Its Young')

This ultramarathon trail race held annually in Frozen Head State Park, Tennessee is infamous for its extreme difficulty.

Here are some key details:

• Distance: The race consists of five loops of ~20 miles each, totaling about 100 miles (160 km);
• Time Limit: Participants have 60 hours to complete the course;
• History: The race was created by Gary 'Lazarus Lake' Cantrell and Karl 'Raw Dog' Henn in 1986. The idea was inspired by the 1977 escape of James Earl Ray from Brushy Mountain State Penitentiary, where Ray only covered about 8 miles in 54 hours; and
• Completion Rate: Since its inception, only 26 runners have completed the full course. The race is known for its challenging terrain and unpredictable weather conditions.

Watch this video if you want to see just how difficult it is.

The Backyard Ultra Marathon (aka 'The Last One Standing')

This unique form of ultramarathon race was also created by Gary 'Lazarus Lake' Cantrell and is held on his property in Bell Buckle, Tennessee. It has gained popularity worldwide since its inception and various races are now held globally.

Here are some key details:

• Format: Competitors run a loop of approximately 4.167 miles (6.706 km) every hour. The race continues until only one runner remains who can complete the loop within the hour;
• Endurance Test: The race is grueling and tests both physical endurance and mental fortitude. Runners must deal with sleep deprivation, exhaustion, and varying weather conditions;
• No Set Distance: There is no predefined end length or time for the race. The race continues as long as multiple runners can complete each loop within an hour; and
• Winning: The last runner standing who completes a loop alone is declared the winner. All other runners receive a 'DNF' (Did Not Finish).

Watch this video to see how difficult this race truly is.

The record for the longest distance in a backyard ultramarathon is 110 laps or 458 miles (737km). This record was set by Belgian runners Merijn Geerts, Ivo Steyaert, and Frank Gielen at the 2024 Backyard Ultra World Team Championship.

Key Messages Within Goggins' Book

The following are the key messages Goggins shares.

Go to War with Yourself

It is important to be self-aware. Confront your fears and weaknesses head-on and push your own limits.

Embrace Discomfort

Seek out challenges and embrace discomfort as a way to build mental toughness.

Be Obsessed, Not Just Motivated

There is a significant difference between temporary motivation and long-term obsession. True success requires an unwavering commitment to your goals.

Accept Yourself

Acknowledge and accept your past. This means accepting your flaws and failures.

Take the Path of Most Resistance

Choose the more challenging path as it leads to greater achievements. Avoid taking the easy way out.

Help Others

Lead by example and help others. By lifting others up, we can also lighten our own burdens.

Run Your Own Race

Focus on your own progress and do not compare yourself to others.

Earn Your Place Every Day

It is critical that we continuously improve and never becoming complacent.

Final Thoughts

Achieving success in all aspects of life takes work. If no work was required, everyone would be successful.

In some cases, achieving success may require wholesale changes to how we think and live. It may appear daunting to overcome our challenges (something like an extreme physical endurance challenge) but think about it....the definition of insanity is continuing to do the same things with the expectation of achieving different results. If we want to make some changes in our life, we have to make some changes in our life.

If the financial aspects of your life are a mess, defy the odds and master your financial mind. Avoid the easy way out. Continuously improve and do not become complacent otherwise circumstances will never change.

I wish you much success on your journey to financial freedom!

Note: Please send any feedback, corrections, or questions to [email protected].

Disclaimer: I do not know your circumstances and do not provide individualized advice or recommendations. I encourage you to make investment decisions by conducting your research and due diligence. Consult your financial advisor about your specific situation.