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Three things honey bees teach us about our financial lives.

| April 30, 2014
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Three things Honey bees teach us about our financial life

1.      Live below your means.

 In the world of the bee colony, the worker bee leaves the hive to collect nectar and pollen. Their effort yield 1/12 of a teaspoon of honey production in their life span. Estimates show that a worker bee could fly around the world on one ounce of honey. Bees are prudent about storing more honey than they consume. In the wild the bees eat the excess honey in seasons which production is slow.  Living below our means can be a challenge. But like the honey bee, we must decide to save more than we consume. We may be living in “retirement” for 20 -30 years of our life span. Start saving today!

2.      Be ready for change and accept change.

        Life for the honey bee is always changing. Different plants and trees produce nectar and pollen at different times of the year. Just as in our financial lives, things change.  It could be a loss of a family member, loss of a job, or a huge promotion. Suffice it to say “life changes.” Adapt to change. Embrace change. When one plant stops producing nectar find a tree which is in bloom. The honeybee has survived plenty of years by adapting to change. Similarly in investing, things change! Business cycles change.  What was a good stock pick last year, may not fair so well next year Accepting change and knowing how to reduce the risks associated with change could prove to be a benefit to your financial life.  

3.      Communicate;

Inside the hive life is complicated. The queen bee will lay over of three thousand eggs a day in some seasons. Within eight days the eggs become baby bees. The new bees are cared for and taught the language of the hive. Inside the hive there are different jobs, purposes and life spans for each bee. Your financial life is complicated. You may find yourself in a season that you need someone to teach you the language of a well planned financial life. Your financial life team could consist of a lawyer, an accountant, a financial adviser, a funeral director, and a spiritual adviser to help guide you to live with purpose. Communication is a vital part of a successful financial plan and a life well lived. 

Make your day great!

      E. Todd Fowler, RICP®

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