Planning for Harvest Begins Now

If you live in the upper Midwest, no doubt, it is beginning to look and feel like Fall. The fields are ripe; ready for harvest. As I drive around and see all the combines at work, I can’t help but see the correlation between a farmer’s harvest and the financial world.

Preparation is critical

A large portion of a farmer’s work during the year happens long before any planting occurs. A farmer will prepare the soil. They have to till, plow, and/or work the land to ensure a fertile environment. Finances work the same way. Oftentimes, people need to do some preparing before they are ready to begin planting like paying off debt and/or building an emergency fund. Investors have to prepare the soil to ensure the seeds they plant grow and thrive.

You must plant a seed

Farmers don’t just show up to their fields in the Fall hoping, by some random chance, there’s a harvest waiting for them to gather. A seed must first be planted in the Spring. To me, the seed that is planted is what offers hope for a harvest. To an investor, that seed is savings. Money saved today are seeds planted for tomorrow and beyond.

Plan for the unexpected

There is nothing more unexpected and unpredictable to a farmer than the weather. Anything from droughts, flooding rains, wind storms, and hail can pummel a would-be harvest. In a similar fashion, finances work the same way – unexpected “storms” can come in the form of the loss of a loved one, the loss of a job, or the economic fallout from a virus like COVID-19. You must make sure you have a rock-solid financial plan in place with the proper risk tolerances and insurances to fit your specific situation.

The harvest we cultivate and sow in the future are a result of the seeds we plant today – that’ll help us get there down the road. Need help figuring out how, what and where to plant those seeds? Give us a call at (605) 271-6023 or visit to setup a complimentary, no obligation meeting.

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