Folks,
“No pain, no gain.” We know it’s not true, but we also know that it can be true. The question then is one of context and perspective.
If you can put up with a little short-term pain for a long-term payoff, then you might invest. But, few of us do. The payoff is too far away.
Would you sign up to lose £100 a week if you knew there was a payoff somewhere in the distance? Unlikely.
It’s why behavioural sciences developed nudges to prompt us to act, often requiring us to opt-out, having provided us with the default of opting in. Donor organ schemes and pensions are an example of this.
Any old-school bodybuilder will tell you slow and steady wins the race, and to do that you need to put up with some pain – perhaps then “no pain, no gain” is less about how much pain you can endure and more about how much you are willing to give.
I will leave you with a quote from John Wooden "Be quick, but don't hurry."
Until next week,
Simon
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