Things You’ll Learn Along Today’s Journey

There are a few fables that teach us about life and money. Today, we’ll go through some fables and find out what they teach us financially.

In the miser and his gold, a miser digs up his gold to look at it but then it got stolen. Instead of using it, he would only look. Wealth not realized and used isn’t wealth. While we might be programmed to save and accumulate, don’t forget to use it. Sometimes Sean has to convince clients to spend their money. Having financial safety and security is good, but learn how you can use that money to your advantage while you’re still around.

The tortoise and the hare is a well-known story of the overconfident hare who doesn’t plan ahead while the slow and steady tortoise comes out ahead. Rushing to make money quick isn’t the answer you want. The slow and steady approach to accumulating wealth is often what works best. Building consistent habits over time will lead to financial success.

Lastly, the dog and the shadow is about a dog with a piece of meat walking home. When crossing a stream, the dog sees its reflection and tries to grab the piece of meat in the reflection and ends up losing the meat in his mouth. In the financial world, if you don’t have a clear plan, you might try to jump towards something else too soon.

Listen to the entire episode or skip ahead using the timestamps below.

[0:28] – Time for back to school!

[1:52] – What can we learn from the miser and his gold?

[6:38] – The tortoise and the hare shows us that slow and steady wins the race.

[10:29] – What about the dog and his shadow? 

Looking Back From The Mountaintop

“Why do people jump ship in the financial planning world? It’s because there hasn’t been a clearly defined plan built.”