Harvest Your Financial Future this Fall ─ Gather Wisely and Reap the Rewards of Greater Security and Peace of Mind
As autumn folds into winter and the leaves have been covered over with the first snow of the year, nature nudges us to let some things lie dormant. It’s a time for reflection and gratitude, assessing the year, taking stock of what we’ve sown and reaped. But underneath the surface, the roots still grow.
The colder months remind us to set aside resources, because seasonal change is inevitable. There will be times of feast and times of famine. And our preparation will determine how we weather the seasons.
The seeds of financial stability you plant now will keep growing, even in fallow years. Here, Kyle McMahan, Executive Vice President & Chief Marketing Officer of WoodmenLife, offers some ideas for how hardworking Americans can begin cultivating a thriving financial future today.
Plant seeds for tomorrow
As with any planting, planning comes first. Start by reaching out to a life insurance advisor or financial planner who can help you sow your financial seeds with intention. Kyle notes, “Protecting your future starts with planting in the most accessible ‘fields’ first.
For most people, that means contributing to employer-sponsored retirement plans, a 401(k), a SIMPLE plan, etc. These automatic contributions are like seeds that get planted consistently without much added effort.” Take advantage of the benefits available to you by contributing enough to meet your employer’s match and try to chip in the highest amount allowable. You likely won’t miss these amounts from your paycheck, and they’ll add up quickly.
Likewise, contributions to retirement accounts, education funds, or insurance policies now will yield benefits later. Think of this like fall planting that brings spring growth.
Once you’ve sown your investments, don’t over manage the soil. Let your money work for you. Solid preparation and consistent contributions help your money grow through all seasons, so you’ll have a bountiful harvest down the road.
Prepare for seasonal changes
Your life moves in seasons, just like nature. There will be changes (moving to new cities or changing jobs), unpredictable expenses (braces for the kids, a new roof), and big life moments (weddings, college tuition, retirement). Incorporating life insurance policies, emergency savings accounts, and other strategies can act like stakes in your garden, protecting your crops from the changes in season and safeguarding your future harvest.
Expect the unexpected
Disruptions are almost always unexpected. But a solid plan can help you weather difficult moments without losing progress.
Kyle says, “Sometimes it’s a personal emergency or unexpected opportunity. Other times it’s larger like an accident, a tornado, a flood, or a crisis in your community. And one of the hardest storms a family can face is the unexpected loss of a loved one. Beyond the emotional toll, it can create immediate financial strain and long-term uncertainty if you’re not prepared.”
That’s why it’s so important to put life insurance and emergency savings in place. Like any good farmer, you’ll want to have a contingency plan to help you manage whatever nature throws at you.
Weather the storms
Without a plan, weeds can quickly overwhelm your harvest. But when you prepare with life insurance, risk-management products, savings, and a strong retirement strategy, you keep these threats from overtaking you. Acts of nature, disruptions, death, and life changes can happen. However, with thoughtful planning, smart planting, and consistent nurturing, your financial strategy will help you endure these challenges.
