This year, take a lesson from Super Bowl teams (Feb. 1, 2012)

Farm & Finance

By Breanna Fulper, Financial Advisor

It’s Super Bowl time again.
And whether you’re a sports fan or not, you can probably learn something from the Super Bowl teams that you can apply to other endeavors — such as your farm business and financial future.
What might these lessons be? Take a look:
Pick players carefully. Super Bowl teams don’t usually get there out of luck; they’ve made it in part because they have carefully chosen their players.
And to potentially achieve success as a farmer, agribusiness owner, or investor, you, too, need carefully chosen “players” — investments that are chosen for your individual situation.
Choose a diversified mix of players. Not only do Super Bowl teams have good players, but they have good ones at many different positions — and these players tend to play well together.
As a farmer, your should plant multiple crop varieties to prepare for various weather conditions, invest in multiple technologies to gain different farm efficiencies, or manage a healthy dairy herd with cows at different stages of lactation for highest milk production year-round.
As an investor in your retirement plans, you should own a variety of investments with different capabilities — such as stocks for growth and bonds for income — and your various investments should complement, rather than duplicate, one another.
Strive to build a diversified portfolio containing investments appropriate for your situation in your retirement plan and strive to build a diversified team of farm investments, such as equipment, technology, or cattle. Diversification can help increase profit or protect against loss.
Follow a “game plan.” Super Bowl teams are skilled at creating game plans designed to maximize their own strengths and exploit their opponents’ weaknesses.
When you invest, you also can benefit from a game plan — a strategy to help you work toward your goals. This strategy may incorporate several elements, such as taking full advantage of your Individual Retirement Account, pursuing new farm investment opportunities as they arise and reviewing your plan regularly to make sure it’s still appropriate for your needs. Stay dedicated to your goals. Virtually all Super Bowl teams have had to overcome obstacles, such as injuries, bad weather and a tough schedule. But through persistence and a constant devotion to their ultimate goal, they persevere.
As a farmer, agribusiness owner, or investor, you’ll face some challenges, too, such as political and economic turmoil that can upset the financial markets or a drought that depresses crop yields.
But if you own a diversified mix of quality investments and follow a long-term strategy that’s tailored to your objectives, you can keep moving forward, despite the “bumps in the road” that all farmers and investors face.
Get good coaching. Super Bowl teams typically are well-coached, with disciplined head coaches and innovative offensive and defensive coordinators. When you’re trying to achieve many financial goals — such as a comfortable retirement, control over your farm taxes or a legacy and successful agribusiness to leave to your family — you, too, can benefit from strong “coaching.”
As your “head coach,” you might choose a financial professional — someone who can help you identify your goals and recommend an appropriate strategy to help you work toward them. And your financial professional can coordinate activities with your other “coaches,” such as your tax and legal advisors.
Unless you’re a pro football player, you won’t experience what it’s like to play in the Super Bowl.
However, achieving your financial goals can be a fairly big event in your life — and to help work to that point, you can take a few tips from teams that have made it to the Big Game.
Consider me your head coach; a financial advisor and true farm girl who understands the dynamics of a farm family and business.
You can reach me at 609-397-3051 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it .