Planting Trees
Kaimey and I recently built a new house and have been slooooowly working on the landscaping around our property. We finally have several trees planted, and some are fruit trees. So if you’d like peaches, pears, and plums, come see us in 3-5 years. Right now, they are sticks that seem like they will easily snap in our hill country wind gusts. But we have high hopes for these sticks after they have the most important element for growth: time.
It’s said that the best time to plant a tree is 20 years ago. The second best time is today.
It’s so true. Had we planted these trees years ago when we bought the property, we’d all be licking peach juice from our chins this summer. But we’ve done it now, and that’s still better than next year or the year after that.
The same concept is true for financial planning. People often dream about having their financial life on a plan “one day.” But what if that one day happened 10 or 20 years ago? What would you be enjoying now? How would your situation be different?
We have good friends who just had a beautiful baby girl last week. Let’s say they want to pay for her college education in 20 years. Do you think they would rather look up in 20 years and need $100,000 or would they rather save $200 per month starting now to get them to that goal? It’s so much easier to make small changes early instead of huge changes later. (Example uses rounded numbers, assuming ~7% rate of return)
Don’t beat yourself up for not starting sooner. That doesn’t lead to anything beneficial. But let it serve as a motivator. The next best time to start your path to financial health is today. When you look up 10 years from now, you’ll be so glad you didn’t wait longer.
Another thing to note about our new trees is that our soil is not ideal for easy planting. We live at the top of a hill, which gives us views of the hill country we love, but means the soil is very rocky. Rich, thick dirt conducive to hole-digging is not what we’ve got.
We discovered this issue when we first moved to the area several years ago. I decided to plant a new tree in the backyard, pushed the shovel into the dirt and was stopped abruptly about an inch deep.
I struggled for too long to chisel away at the rock with my shovel. I could do it all that way, but it would take forever and be a pretty miserable experience. So I took a trip to the store and invested in a new pick ax. This was much better as I was able to make smarter, easier progress. Switching the tool changes the game.
When you start wrapping your head around your financial future, it may seem like chiseling away at rock. There is so much to figure out: tax laws, life insurance policies, retirement accounts, college-saving plans, investment strategies…it takes a lot of time to make a little progress.
Investing in a different tool could make the job so much easier without making you miserable. This could be a more efficient investment account, an unclaimed tax deduction, or a less expensive insurance plan. When I was struggling to dig that hole with my shovel, I went to Home Depot and stood in the aisle staring at all of the tools I could buy. Did I need a pickax, a rock digging bar, a post hole digger? Luckily an employee came and directed me to the exact right tool for what I was trying to get done. I see myself as that specialist waiting to learn about you and your specific situation so I can guide you to the best tool to accomplish your goals.
I’d love to help you get that tree planted today so you can get the most enjoyment out of it. Reach out to me so we can get your financial future planted together!
