Rooted

There is a business near our office named Rooted; they appear to be a chiropractor’s office.  I also saw a yard sign for a Rooted landscaping company.  Then to cap it off, I saw a bumper sticker with a silhouette of Michigan, roots growing out from the bottom of the state.

What does it mean to be rooted and is it important?

For many I assume that “being rooted” is to say they have established and deep connections to something.   For instance, vegetarian food is rooted deeply into the fabric of Indian culture.  For some the idea of growing roots is to say that they are establishing themselves in a community, a job, and choosing to make a place home.  

At the intersection of people and finance, we ask what the concept of “being rooted” means as well.   Financial roots are akin to deep stability and confidence that one’s approach to spending, saving, and managing money is durable.  Does anyone want a rootless financial plan?  Of course not.  If one’s financial plan were a tree, you would want it to have deep roots capable of withstanding strong winds so that it doesn’t topple when the sky turns dark.   Likewise, you want roots capable of nourishing the tree to grow larger and stronger over decades of time.

Our rooted call to action is twofold…

FIRST, make a financial plan!  It cannot and will not be perfect, but it needs to be done.  And the shameless plug is that Certified Financial Planners® know how to build plans better than most!

SECOND, take your financial plan and incorporate it into your investment portfolio.  That simple step is often NOT done.  The design of your investment portfolio should be based on your financial plan because it’ s YOUR PLAN and everyone’s plan is unique.   Doing it yourself is fine if you have the time and expertise – though many don’t.  Listening to your buddy’s investment strategy might be good lunch talk, but it doesn’t constitute a plan upon which you become rooted or soundly invested.  

As they say in the CFP® commercials, “Let’s make a plan.”  This will get you rooted financially and it might even help you sleep better at night.  Please note, we are not doctors or chiropractors.  But we are Certified Financial Planners®.