In the early 1900s, motor vehicles were rising in popularity. Karl Benz in Germany and the duo of Charles and Frank Duryea in Massachusetts were responsible for most automobile production in Germany and the US by the end of the 1800s. 

But, there was one little problem – not everyone could afford the luxury of a vehicle!

Enter Henry Ford of the Ford Motor Company. After years of experimenting on gasoline engines and motorized vehicles, Ford produced and unveiled the Model T in 1908 at a price point of $850 (equivalent to $25,223 in today’s dollars): a price that many Americans could manage.

Before long, Ford himself began lowering the price gradually, which increased accessibility. The result? An age of connectivity between rural communities – residents could now travel easily between one another for sales, trading, and even leisure! 

By the mid-20s, competition began to rise in the automotive industry, and May 1927 marked the creation of the last Model T. The legacy Ford built continues going on strong to this day, with the Ford Motor Company holding steady as one of the top auto manufacturers in the world.

Henry Ford saw an opening in the market for a type of vehicle no other company was offering, and he made his success not by a huge leap, but by small strides. 

When you are working on a financial plan, you MAY have success just dropping a large amount of money down, but real success comes with building it over time, in small strides. 

If you would like to talk with us about the many ways you can start saving for the future (be it in tiny amounts or if you have a large windfall you would like to put away), we want to hear from you. Book online or give us a call at 513-563-PLAN (7526) to talk shop with one of our financial advisors.

Regards,
Nikki Earley, CFP®