Think Of Wealth Building Like Planting A Garden

It may take a few weekends of clearing away the weeds. But once you’ve planted your seeds, most gardeners will tell you: don’t touch it.

By Jessica Sier

Money

It may take a few weekends of clearing away the weeds. But once you’ve planted your seeds, most gardeners will tell you: don’t touch it.

By Jessica Sier

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If you’re steady and simple with your finances, you can be fierce and original in the rest of your life. Building wealth comes down to three core concepts; spend less than you earn, allocate a portion of your income to a place that makes money while you sleep and don’t try and overcomplicate things.

Think of building your wealth like planting a garden: it may take a few weekends of clearing away the weeds, ensuring your soil is fertile, and deciding what you’d like to see grow. But once you’ve done the legwork and planted your seeds, most gardeners will tell you: don’t touch it! Let the sun and the earth, the rain and the insects do their thing, and over time your garden will blossom all by itself.

Jessica Sier is a financial journalist who currently heads up the content strategy at Spaceship, an investing startup. Prior to that she was a reporter at the AFR where she discovered that breaking down financial jargon was a public good.

This report contains general advice. It does not take account of your individual objectives, financial situation or needs. You should consider talking to a financial planner before making a financial decision.