Diversifying Investments and the World of Chestnut Orchards
Conversation with financial expert Joel Hubbard, CPA, who is also a landowner and chestnut orchard developer.
In the latest episode of the Branching Out podcast, I sat down with Joel Hubbard—an esteemed CPA, registered investment advisor, and founder of Executive Money Managers. He is also the driver behind Georiga Chestnuts, LLC. Our conversation unfolded into a rich exploration of constructing balanced portfolios and the captivating world of investing in chestnut orchards.
The Foundation of a Balanced Portfolio
Our conversation begins with Joel emphasizing the paramount importance of a diversified investment strategy. “A balanced portfolio,” he explained, “should encompass cash, investments in the stock market, bonds, and real estate tailored to individual circumstances.”
A Decade-Long Journey
Reflecting on our connection over a decade ago when seeking guidance on purchasing timber properties, Joel underscored the significance of a balanced portfolio, acting as a counter-cyclical element against traditional stocks and bonds.
Chestnut Orchards vs. Pine Tree Plantations
The conversation seamlessly transitioned into the intriguing realm of chestnut orchards versus pine tree plantations. Joel’s enthusiasm shone through as he shared his journey from pine timberland to the promising world of chestnut orchards, citing research that positioned chestnuts as 12 times more profitable than pecan trees.
Personal Connection to the Land
Joel’s childhood memories of South Georgia filled with pecan trees added a personal touch to the conversation. His dream of grandchildren harvesting chestnuts became a poignant vision for the future, encapsulating the essence of intergenerational wealth and sustainability.
Purchasing Land – Navigating the Complexities
Delving into the intricacies of purchasing land, Joel touched upon crucial aspects like tax strategies and the advantages of structuring land ownership. His advice to consult professionals who “eat their own cooking” underscored the importance of advisors practicing what they preach.
Insights from Presenting at the Forest Landowners Association
Joel shared captivating experiences from presenting at the Forest Landowners Association, emphasizing the intergenerational land transfer and the crucial buy-in from the next generation. Moments spent with his daughter and grandchildren in the chestnut orchard showcased the tangible connection to sustainable legacies.
Tips for Those Entering the Chestnut Business
Practical advice flowed as Joel offered tips for those considering entering the chestnut business. From understanding land use and topography to assessing prior land activities, his insights painted a comprehensive picture of the considerations involved in such an endeavor.
Financing Options for Land Purchases
In wrapping up our conversation, Joel’s wisdom extended to financing options for land purchases. Drawing comparisons between commercial lenders, community banks, and agricultural credit institutions like AgSouth, he shed light on flexibility and advantages, making land ownership more accessible to a broader audience.
Reflecting on this insightful conversation with Joel Hubbard, it’s evident that wealth isn’t just about financial numbers—it’s about building sustainable legacies, fostering connections with the land, and ensuring that future generations continue to reap the rewards. In this intricate dance of financial strategy and agricultural investment, Joel’s journey offers a compelling narrative of personal and financial growth.
Joel and his team can be reached at:
236 North Cherokee Road, Social Circle, Georgia 30025 Office: (770) 953-1135
If you are interested in learning more about the chestnut industry, purchasing trees or nuts, or need some support, please subscribe to the weekly blog at unitedchestnuts.com, join the United Chestnuts Community group on Facebook, tune into the Branching Out podcast on YouTube, Spotify, Audible
