Gardening is an enthusiasm pass time that takes dedication, patience, research and sometimes a bit of luck, but it’ always a good feeling to cultivate your own crop and harvest. While we could write for great lengths about the personal economic benefit that you can reap from growing your own garden. Instead as we approach the very faint beginnings of spring, it seems fitting to use gardening as a metaphor for finances. A good gardener can also cultivate a healthy financial garden if they apply similar care and effort to the growth of their wealth as they do to the growth of their plants. Factum Financial wants to see your financial garden overflowing with abundant wealth and to ensure you always remain consistent in your growth. We may even have a few growth secrets that you can use that you never knew were so powerful.
Why Finances And Gardening Are Similar
Thinking about gardening and financial growth in the same context might seem silly to some, but let’s examine the similarities:
- Planning – A great garden with enough room for growth without competition requires a well thought out plan. This plan cannot be all in your mind since it takes strategic mapping. You have to pick the right environment for growth and make sure to use good stock. Your financial garden also takes planning with calculations for growth, drought, competition and some patches of tough soil.
- Food And Water – You must feed and water the plants in your garden to maintain growth. This process requires constant attention, making sure that you don’t overfeed or water and strangle your growth. You must also make regular, healthy contributions to your financial garden to encourage it to continue growing as well and you must be attentive to your finances to make sure they are on track.
- Yield – In the same manner that the gardener does not plant seeds they do not expect or hope to grow, you would not risk your finances on gambles or poorly performing stock. Growth is key, especially growth that pays you dividends every year, whether you are gardening or managing your wealth.
- Diversification – Part of the fun of gardening is to grow multiple plants, all with different harvest times, yields and uses. No one wants to grow just one type of plant. In the same way, your financial garden is way more beneficial and exciting if it’s very diverse. You increase your chances of increasing your net worth by putting your money into various vehicles for growth.
- Protection From The Elements – There are a lot of hazards to the growth of your garden that can limit its growth, diminish your yield or even kill your garden all together. In that same fashion, there are a lot of outside elements that want to take part or all of your wealth and you must be watchful to protect it.
Thinking about finances in gardening terms is a fun way to make our relationship to our wealth more exciting. Who doesn’t wish they had a green thumb for growing money?
Threats To Your Financial Garden
A healthy financial garden will make you feel great but it can also be a source of stress simply because there are so many threats to the health of your stock and to the abundance of your financial garden. Some risks to your garden might include:
- Bugs And Pests (The IRS) – Bugs and pests are a huge risk to your garden because they are persistent and almost everyone has to find a way to deal with them. If you don’t they could end up eating up a huge portion of your crop. In the same way, everyone has to deal with the IRS and if you aren’t careful, you could end up paying them a huge amount of your hard earned money they you worked to save.
- Wildlife (Lawyers, Thieves and Scams) – Gardens are enticing to wildlife that are looking for a meal and they will certainly try to sneak off with as much of your crop as they can. Lawyers, Thieves and Scammers are also enticed by the prosperity of your financial garden. Don’t let them steal your wealth when it’s ripe.
- Flooding And Drought (Market Volatility) – Too much water or too little an amount of water is bad for your garden. Striking a balance between the two is important and any sort of volatility is actually bad for your garden in the long run. Your financial garden operates similarly, especially when it comes to the stock market. You need stability for growth and when the market has runs of growth followed by devastating crashes, it’s not good for your portfolio. While you are growing wealth for the long haul, volatile investments are usually the first ones you want to prune.
These are the most common threats to your financial garden, but any good gardener knows that there are many variables they have to account for and they need a good system to protect their growth.
Protecting Your Financial Garden With Infinite Banking
If your finances and wealth are the garden, then applying the Infinite Banking Concept to your financial plan is much like building a greenhouse. A greenhouse offers protections from the elements and from pesky outside invaders that want to steal from your financial garden, while also giving your crop a safe environment to grow and increased access to warmth and sunshine. If you cultivate it well, a greenhouse will yield fantastic results.
In the same way, you can cultivate and grow your financial garden with the Infinite Banking Concept by creating a savings and growth vehicle inside a dividend paying whole life insurance policy that protects your wealth as it expands. With IBC you can experience true compounding and consistent annual growth tax-free that grows at an exponential rate in comparison to a typical savings account or CD. Do you want to find out more? Contact the wealth strategy team at Factum Financial to schedule your free wealth strategy session and find out about our monthly IBC Introduction workshops! Call (480) 525-8180 today.
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