The REMIX of the Turtle and the Hare | Series 8.4

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Welcome to the Enjoy More 30s Family Finance

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podcast. The only podcast dedicated to making life more

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enjoyable for young families by hitting on the financial topics

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that tend to weigh on us, stress us out, and distract our focus

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from simply enjoying life.

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Hello, and welcome back to the Enjoy More 30s

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Family Finance podcast, and our current series The Financial

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Parables of Your Life. Each week, I'm sharing what will

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likely be a somewhat altered version of a story that you're

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probably already familiar with. Because you know, stories are

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way easier to remember. As always, before I begin, please

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share and like and leave reviews. I'd love to reach and

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help as many young families out there as I can that are just

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like you and that will help me do it.

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So today please join me for our story, The REMIX of the Turtle

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and the Hare. A hare was making fun of the turtle one day for

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being so slow. "Do you ever get anywhere?" he asked with a

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mocking laugh. "Yes", replied the turtle, "and I get there

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sooner than you think. I'll run you a race and prove it." The

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hare was much amused at the idea of running a race with a turtle.

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But for the fun of the thing he agreed. So the owl who had

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consented to act as a judge marked the distance and started

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the runners off. Despite being quite fast compared to the

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turtle, the hare said to himself, "I know a shortcut that

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will get me there in no time at all", and sawed off through the

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woods only to get his fur caught in a thicket. "Oh no", he

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thought, "I can't get beaten by a lowly turtle. I must make up

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the time!" and took another shortcut through the bog, only

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to find himself wallowing in the thick mud. "Oh no, this will not

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do", said the hare, "I must not lose to that turtle." And pulled

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himself out and took another shortcut through the meadow. The

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tall grass blinded the hare and he could not easily determine

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which way he was to go. "Oh dear", he said jumping up

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frantically over the tall grass to see, "I've completely lost my

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way." By the time the hare reached the finish line, the

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hare was quite exhausted, his fur covered in thorns, mud, and

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grass and the turtle relaxing having already won the race some

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time ago.

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So if you are a hare, you likely don't need a shortcut to win the

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race. And if you're young, you are likely already a hare.

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Trying rapidly to increase your wealth through market timing or

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dealing in some kind of a speculative security or things

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like maybe cryptocurrency, it may find you in the thicket just

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like the rabbit. Being young means that you have time on your

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side. So using a diversified or spread out portfolio likely

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gives you a much better chance of winning the race of getting

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to the goals that you actually want, the goals that would make

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you happy. $150,000 today is roughly $300,000 in 10 years,

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$600,000 in 20 years, and 1.2 million in 30 years using just

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7% as a growth rate. So don't be the turtle. Be the hare. Just

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stay on the more time tested path. Sometimes it's just about

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having someone show you what path you may be already running

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on.

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Thanks for tuning in today and join us for next week's story,

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The Two Houses on Pleasantville Avenue. I hope you enjoyed

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today's story. Please remember to review and share for others.

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And if you need any help, don't hesitate in reaching out because

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I probably have helped someone just like you. Until next week.

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Thanks for joining me today and I look forward to connecting

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with you again soon.

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The conversations on this show are

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Joe's opinions and provided for general information purposes

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only. They do not constitute accounting, legal, tax, or other

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professional advice for your specific situation. You should

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always seek appropriate advice from a financial advisor,

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accountant, lawyer, or other professional before acting upon

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any content or information found here first. Joe is affiliated

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with New Horizons Wealth Management LLC, a branch office

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of TFS Securities Inc., and TFS Advisory Services an SEC

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Registered Investment Advisor, Member FINRA/SIPC.