Five Financial Tips From The Pittsburgh Penguins
Sidney Crosby hoists the Stanley Cup. AP
It’s been a pretty good year to be a fan of Pittsburgh sports. The Steelers won the Super Bowl in February and the Pittsburgh Penguins snatched the Stanley Cup just four months later.
Led by a rookie coach, who joined the team halfway into the Pens’ slumping season, and youthful hockey sensation, Sidney Crosby, the young team defied the odds, skated through the playoffs, and won the ultimate prize of hockey–Lord Stanley’s Cup.
What’s more, they beat the vaunted Detroit Red Wings, statistically the best team in hockey. The Red Wings have won five titles in 12 seasons.
I think the Pens unlikely championship season offers lessons for those seeking financial freedom.
Here are five financial tips from the new Stanley Cup hoisters:
1. Rookie enthusiasm can overcome rookie mistakes.
The Pens certainly weren’t perfect this season. In fact, they barely made it into the playoffs. But they kept believing, they kept playing, and they kept trying.
You can do the same if you don’t allow a few missteps hinder your belief in ultimate victory.
2. Find a good coach.
Rookie coach Dan Bylsma is given a lot of credit for turning the team around in mid-season and giving them an edge in the playoffs. Bylsma, who was led during his playing career by the Red Wings coach Mike Babcock, seemed to get smarter in the playoffs. Despite a near-fatal thrashing by the Red Wings in game 5, Bylsma somehow out-thought his former coach in the final two games.
In your own quest for financial freedom, find mentors and coaches who will help you weather challenges and seize opportunities.
3. Be an outlier.
The Penguins could very well have changed their name this season to another feathered water fowl: the Black Swan. Everything about their season would suggest that the team could be anything but fodder for the Red Wings. Young, relatively inexperienced, and behind in the count, the team rose to the top.
You may feel the odds are against you financially speaking, but by saving, investing, and generating income, there’s no limit to what you can achieve.
4. Believe in the plan, not the man.
When the Pens’ leader Sidney Crosby was injured in the second period of the final game, Red Wing fans cheered and Penguins fans moaned. But, the team actually played better without him, relying on their defense to mystify Detroit’s high-powered offense.
When it comes to finance, think beyond your own power to make and invest money. Find a plan and stick with it.
5. Optimism is its own reward.
Max Talbot was the hero of game seven, scoring both goals for the team. But it took years for him to get an NHL team to take him. A low draft pick, he spent time in the AHL, honing his skills, even though he still isn’t exactly known for his goal-scoring prowess.
What he is known for is his attitude, as you can tell from this quote:
“It might sound stupid, but hockey is a lot in the head. Because you look at my skills … there are a lot of players in the AHL that have more skills than me. And I’m not lying there. But when you think about it, a lot of plays in the head and what you can believe in and who you believe in, it’s special.”
Here’s another:
“I had to be in the right place, right time to score two goals,” Talbot said. “Every day I wake up and say this is the best day of my life, but this is the best day of my life.”
So, hit the ice financial freedom-seekers.
Game on!
is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
