What Can David Goggins Teach You about Saving for Retirement?

David Goggins is one tough dude. The former Navy SEAL passed the vaunted “Hell Week” three times, once held the world record for the number of pull-ups in 24-hours, and regularly runs (and wins) ultramarathon races. While he has set an example for those looking to push their physical boundaries, there is a method to his madness that has relevance for our personal finances as well.

So, what can David Goggins teach you about saving for retirement?

Hold Yourself Accountable

In his book Can’t Hurt Me, Goggins shares his biography as a way to both explain how he developed his persona and inspire others to develop into the best version of themselves.

Finding himself overweight and frustrated with his job as an exterminator, Goggins took a cold, hard look at himself in the mirror. He did not like what he saw.

Goggins berated himself with some harsh truths about his condition. Rather than run from these uncomfortable realities, he sought to face them head on.

The same method can be applied to your personal finances and your ability to squirrel money away for retirement. In other words, examine your monthly budget and understand how much you are spending, saving, and investing on a monthly basis.

If you are not on the right path towards securing the retirement you crave, then it is time to look deeply into the accountability mirror and make some changes to your finances.

Callous Your Mind

Once you have made some changes, the next part is to see your plans through. Goggins has some advice on this matter as well.

Goggins frequently talks about the need to “callous your mind,” in the same way you would toughen up other parts of your body.

By working hard and pushing through physical discomfort, Goggins believes that we can all develop the mental toughness to overcome difficult challenges in all aspects of our lives.

In a similar vein, building up mental fortitude can help you to develop the self-discipline that is often required to forgo immediate satisfaction in favor of your long-term benefit. It is not always easy to say “no” to temptations, especially when you see friends and family enjoying the certain creature comforts that you also desire.

The impulse to pine for the possessions of others–also known as ‘keeping up the Joneses’–is not an uncommon phenomenon. It also rarely leads anywhere healthy.

Once you have decided on your desired financial roadmap, harden your resolve and learn to focus on the end goals you have in mind.

Dig Into Your Cookie Jar

Not surprisingly, Goggins urges his readers to define their goals and attack them mercilessly. But what happens when we fail?

For Goggins, this was not a theoretical exercise. Entering into the San Diego One Day race, he was seeking to run 100 miles in 24 hours. While Goggins was in incredible physical shape, he had not trained for this absurd test of endurance.

With his body breaking down and his pain threshold at a maximum, Goggins dug into his “cookie jar” of past accomplishments to give him the courage, the fire, and ultimately the belief that he could indeed overcome his physical limitations.

If you find yourself falling short in your savings and investment goals, you can also think about your past successes in finance and elsewhere. Give yourself some credit for what you have already accomplished. This can help motivate you to get back on track if you feel like you are slipping off of your desired path of financial savings.

Find Comfort in the Uncomfortable

It is not always easy to go without. Goggins admits throughout his book that he is an extreme example of living with discomfort.

While you do not need to go quite as far as him, there are still lessons to be learned from his ability to withstand discomfort.

Not everything in life will be easy, and the same holds true for your financial plans. You may not get that raise or bonus, and unexpected expenses are always just around the corner. (For this reason, it is vital that you set up an emergency fund so that unbudgeted for items do not drag you down into debt.)

And yet, less consumption now can help you put money aside for the future. In the zero sum game of spending versus savings, the less you spend today the more you will have on hand going forward.

This might mean that you need to be slightly less comfortable, or work more, for the time being.

Conclusion: A Test of Endurance

For Goggins, every challenge can be solved with hard work, perseverance, and an unyielding commitment towards your ultimate goals. While saving for retirement does not require the same physical stamina as running an ultramarathon, it is like a long race that requires you to create a plan and stick to it. This is true even, and especially, when times get tough.

Retirement is something that all of us need to think about and plan for. In this test of endurance, there are certainly some lessons to be gained from one of the all-time toughest individuals to ever lace up a pair of running shoes.

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