Updated: Nov 17, 2020
Excerpt from 'The Barefoot Investor', Scott Pape
"Think of managing your personal finances like planting a tree. Or well .. more specifically – an apple tree.
Planting the tree is a huge decision in the right direction. Give yourself a pat on the back! But it’s obviously not a short-term fix. No one in their right mind plants an apple tree one day only to come back a week later and be like: “Where are my bloody apples?!”
No. Neither do you pull up the samplings and try to put them in another part of your garden where it seems like it might be sunnier. And you don’t get desperate and buy the program from that “grow-trees-quick dude” that you’ve seen on the ads on YouTube. You just trust that the tree will grow.
As long as you nurture it, consistently adding fertilizers and water, you trust the process and that you eventually will have a full grown tree. A year or so down the road, you might see some of the first apples. They are small and sour at this stage – not really what you expected from an apple tree, but that doesn’t make you lose confidence in the process.
So you keep adding fertilizers and water. And you keep the bloody deer away from your tree! After that initial struggle you even forget about the tree for a while and just get on with your life. Eventually that tree has grown deep and thick roots, with strong branches and delicious apples. Enough to feed your whole family!
And when your days have come to an end, your grandkids, and even their kids can enjoy apples of that magnificent tree. Okay, I’m not really a botanist. I have no clue if apple trees can become that old! But you get the idea. Personal finance is the same: Plant the seeds of wealth, trust in the process, and enjoy life-changing harvest.”