Did you know it’s relatively simple to become a millionaire? If you start from $0 at the age of 18, all you need to do is to save about $250 dollars per month, every month, until the age of 65.
Congratulations, you’re a millionaire!
But how is that possible?
How could a mere $250 a month generate over a million dollars by the age of 65? If you sit down and do the math, multiplying the number of months between the ages of 18 and 65 by $250, you only end up with $141,000.
So what’s bridging that gap?
It’s the power of compounding interest.
In the world of finance, the term compounding interest refers to when the earnings from the money you invest generate even more earning. And those earnings generate more earning, etc, etc.
It’s the snowball effect.
This concept doesn’t get enough credit in health and fitness communities.
We like to focus on big achievements: running a marathon, getting a six pack, lifting a certain amount of weight, or achieving a certain powerlifting total…
We (wrongfully) think the key to achieving these lofty goals lies in harnessing near-superhuman levels of motivation, willpower, and determination—in going “all out” like our lives are a training montage from one of the Rocky films.
It’s easy to overlook the simple, daily habits and the years of consistency that go into making those achievements actually happen.
Don’t get me wrong, there’s nothing wrong with having ambitious long-term goals. The problem is, we get so overwhelmed by the magnitude of our goals, we forget to implement the simple things and do them well.
For the average person, saving a million dollars sounds like an impossible task.
But $250?
That’s doable.
The same thing goes for your health and fitness goals: Losing 50 pounds may seem like an impossible task, but how about going for a 10-minute walk each day? Or eating more vegetables with each meal?
That’s not so bad, right?
Start with things that don’t require motivation to implement; in fact, it’s best not to rely on motivation at all! Waiting to feel “motivated” is the perfect excuse to do tomorrow what you should be doing today.
The truth is if you’re feeling down and unmotivated, this is the perfect time to start making progress.
Why?
Because it forces you to come up with something that is realistic and sustainable. If you can make a plan that works for you now—while you’re at your worst—then imagine how much better you’ll be able to stick to things later when you are feeling motivated!
You can always turn things up when you’re in a better position to handle it. It’s much harder, however, to scale back when you start too aggressively. Once we start to fail, the “all or nothing” mentality kicks in and we usually give up.
Practical Take-Aways: Two Simple Steps To Jumpstart Progress
So what are the keys to compounding interest? How can we best take advantage of this powerful tool?
The answer is time and consistency.
Nothing beats these two things.
Each individual habit or positive action you take is relatively insignificant when viewed in isolation, but when taken in concert with all the other actions occurring over many years, it becomes a vital link in a chain that leads to something great.
The payoff comes down the line.
This is tough from a psychological standpoint because we are typically not very good at associating with our future selves—how do you convince the 18-year-old you how much the 65-year-old you will appreciate the money you’re saving? How do you find the significance in these seemingly trivial habits when your goal seems so far away?
Here’s a “one-two punch” that will help:
- Choose a few simple, realistic health-habits you’d like to adopt that can be started TODAY.
- Write a letter to yourself from your future self and describe what your life is like since having made those changes.
This is an effective technique because not only does it help you to identify clear, actionable goals, it also helps you define the why. In writing this letter to yourself from your future self, you describe not just the beneficial changes to your life but why those changes matter.
For example, I am stronger and have more energy now, so I can be a better, more engaged parent.
It gives you a powerful emotional connection to your future self.
I know this exercise may seem silly, but don’t underestimate its power. There’s some interesting research that suggests learning to identify with your future self can improve your current behavior [1].
When you set your goals, try focusing on positives rather than negatives. Things to do rather than things to avoid.
Here are a few possibilities:
- I will resistance train at least 3 times each week
- I will eat 20+ grams of protein with each meal
- I will eat a minimum of 4 servings of veggies each day
- I will go for a walk each day
- I will keep a fruit bowl on the table with at least two different types of fruit
As you master these habits, they will become easier and easier to implement. Given enough time, they will become so woven into the fabric of your life, you won’t even notice they’re there.
This will free up mental energy to pursue slightly more ambitious goals.
The snowball is rolling!
Closing Thoughts
Remember, the key to achieving your health and fitness goals has little to do with motivation—it’s about habits. Simple, realistic habits that can be adopted now and repeated daily.
And the nice thing about habits is they don’t just go away if you miss a day or two, right?
Take advantage of it while it’s there, but don’t rely upon it, and more importantly, don’t feel like there’s something wrong if it wanes. There is no plan that is so perfect that it will allow for effortless progress. There is no silver bullet.
At some point, things will get tough and you’ll need to dig and that’s when motivation will fail you.
Your habits are the slow-burning logs in the fire.
They are what will get you through the night. Motivation is overrated. Find what DRIVES you and start down the road.
Don’t wait. Start NOW. There is no better time.