We can all learn from the farmer who understands that the secret to reaping a bumper crop is knowing when to plant….and when to reap. Understanding the seasons, the farmer knows when, down to the exact day, when to plant soybeans, corn, and other crops. Subsequently, preparing the earth for the spring rains or the summer heat, the truly prepared must tailor their investment strategies to the various seasons of their lives. With the assistance of an experienced financial advisor, this process of asset management and seasonal asset planning can yield a bumper ‘financial’ crop in the seasons you need it most, as well as providing the resources you will need to fully enjoy doing those things you wish to do such as taking exotic vacations and or pursuing once-in-a-lifetime experiences throughout the world. Winter - The Early Years As you begin to earn money after college or vocational school, you may often wonder whether or not you should begin investing. With a trusted financial advisor that develops an in-depth understanding of your financial potential, goals and aspirations, they most certainly would advise getting started ‘right where you are’ and taking the first step toward a lifetime of exponential growth in investments. Getting an early start planting in this winter season, you will be able to build with certainty a viable nest egg to support your lifelong dreams for any contingency. From this very first season, work with you advisor who will walk you through select options such as low-risk yet potent investments like CDs or bonds as well as help you to establish good habits of setting aside the money to enjoy the days of youth. If you are to take advantage of the farmer’s wisdom during this winter season, you will build your assets so that your insurance and your investments align to provide financial security for the future and also to carry through life's little storms. Spring - The Growth Years As spring approaches, your financial consultant has become a close associate and friend, having prepared and weathered the snows of winter with you. Now your investment dreams, buoyed by spring's greater income, can fully blossom and reap greater rewards. Your wealth advisor will help you begin to build your 401k to provide the fiscal security you need. Depending on the personality and tolerance for risk, you might consider during this time of greater income, making carefully selected riskier investments while at the same time, planning your taxes to maximize your wealth creation. Anchored by the investments you made in the wintertime as a safety net, you will have this option to take on more risk strategically and without worry. Your trusted advisor will help you strike the perfect balance between the adventure of risk with reason and sound advice along with guiding you to plan wisely your dream trips, excursions, or simply making extra time with your family. Summer - The Education Years For families with children, college is one of the biggest expenses in their lives and should be prepared in advance. To prepare for this exciting time, your strategy must shift to accommodate the spending necessary to pay for a college degree. You can rest confident in the knowledge that you have created a portfolio of wise and successful investments to finance your child's future such as 529 plans. For those without children, financial planning strategies that develop wealth with certainty through investments in annuities and mutual funds will reap a lifetime of exponential growth. In either case, this time will be a joy-filled season you can look out over your crops with expectation. As you work closely with your financial advisor, you will stay firmly on the path to continuous growth along with the financial flexibility to enjoy a second home or to support a cause dear to your heart. Fall - The Retirement Years Retirement comes in the fall, and your years will be golden with knowledgeable help at your side. By now, your advisor is like a member of the family, and together you have built a diverse portfolio of many secure assets and powerful investments. During this time, you will rely on a fixed income; it is at this time in the fall that many take fewer risks, yet you can modify your portfolio to suit your needs. For many, the crowning achievement of a well-designed portfolio is a secure, comfortable and worry-free retirement, but asset management has one further dimension: the legacy you leave to your family. So, this is no time to lose focus as your advisor will now guide you through the process of planning your estate so that you can leave your family with a lasting, lifelong gift. Fall can be filled with exciting trips, pleasant relaxation, donation of time and money to favorite charities, and visiting with family and treasured friends. Each season of the year brings new and unique weather, and with the aid of a professional financial advisor, your financial house will weather the storms and you will be perfectly placed to enjoy the beauty and joy of each season as it arrives. The farmer intimately understands seasonality, and this “seasonal” approach to lifetime financial planning will provide the strong foundation you need to meet your personal financial goals in life and give you the capacity to enjoy your dreams. With a close and trusting relationship, you and your financial consultant can weigh the risks, make the wise decisions, and enjoy life to the fullest throughout all the seasons of life. With asset management designed to accommodate each of these seasons, you can enjoy the comfort and excitement that comes with a secure future. With smart planning throughout these seasons, you will be in a position to enjoy it all.
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We can all learn from the farmer who understands that the secret to reaping a bumper crop is knowing when to plant….and when to reap.
Paul Mata is the author of this article on Asset Planning. Find more information, about Financial Planning here
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