The REMIX of the Turtle and the Hare | Series 8.4 - Enjoy More 30s: Family Finance

Episode 4

The REMIX of the Turtle and the Hare | Series 8.4

Published on: 6th June, 2022

Trying to increase wealth rapidly may find you lost in the thicket. Take the time tested path!

  • So if you are a hare, you likely don't need a shortcut to win the race. And if you're young, you are likely already a hare. (02:21)
  • Trying rapidly to increase your wealth through market timing or dealing in some kind of a speculative security or things like maybe cryptocurrency, it may find you in the thicket just like the rabbit. (02:31)
  • Being young means that you have time on your side. (02:45)

Quote for the episode: "Be the hare. Just stay on the more time tested path. Sometimes it's just about having someone show you what path you may be already running on." (03:13)

Securities offered through TFS Securities, Inc., and Advisory Services through TFS Advisory Services, an SEC Registered Investment Advisor Member FINRA/SIPC. TFS Securities, Inc., is located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.

Transcript
Voiceover Audio:

Welcome to the Enjoy More 30s Family Finance

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podcast. The only podcast dedicated to making life more

Voiceover Audio:

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.

Joseph Okaly:

Hello, and welcome back to the Enjoy More 30s

Joseph Okaly:

Family Finance podcast, and our current series The Financial

Joseph Okaly:

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

Joseph Okaly:

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

Joseph Okaly:

probably already familiar with. Because you know, stories are

Joseph Okaly:

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

Joseph Okaly:

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

Joseph Okaly:

like you and that will help me do it.

Joseph Okaly:

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.

Joseph Okaly:

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

Joseph Okaly:

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

Joseph Okaly:

Trying rapidly to increase your wealth through market timing or

Joseph Okaly:

dealing in some kind of a speculative security or things

Joseph Okaly:

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

Joseph Okaly:

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

Joseph Okaly:

side. So using a diversified or spread out portfolio likely

Joseph Okaly:

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

Joseph Okaly:

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

Joseph Okaly:

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

Joseph Okaly:

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

Joseph Okaly:

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

Joseph Okaly:

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

Joseph Okaly:

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,

Joseph Okaly:

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.

Joseph Okaly:

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

Joseph Okaly:

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

Joseph Okaly:

Thanks for joining me today and I look forward to connecting

Joseph Okaly:

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.

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About the Podcast

Enjoy More 30s: Family Finance
Family Finance for Young Professionals.
Young families receive little to no personal finance help. We all grow up to have jobs and money, yet our education system focuses on Shakespeare and Algebra. Even professional advice can be hard to come by, with the majority of the industry chasing retirees and existing wealth.

Joe Okaly's podcast is aiming to change this, providing personal financial advice geared specifically to professionals with young families. This podcast is dedicated to making life more enjoyable for young families, by hitting on the financial topics that tend to weigh on us, stress us out, and distract our focus from simply enjoying life.

Joseph P Okaly is a CFP Certified Financial Advisor who fits directly in with who this podcast is focused on - a young professional with a family. With over a decade of experience as an advisor, there is passion and knowledge to make a difference.

Securities offered through TFS Securities, Inc., Advisory Services through TFS Advisory Services, a SEC Registered Investment Advisor Member FINRA / SIPC. TFS Securities, Inc. located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.