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The Master Heron | Series 8.8
Episode 85th July 2022 • Enjoy More 30s: Family Finance • Joseph P. Okaly
00:00:00 00:04:59

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Shownotes

Waiting for the perfect scenario can get in the way of making any progress at all!

  • Now, right now, today is almost always better than perfect. (02:08)
  • So get out there, get the insurance policy now and then when you get in better health, go get a new one to replace it. (03:14)
  • Saving towards yourself can be another common example. "I just want to buy this or that first, then then I'll really start to save I'm still young, right?" Well, you put it off for a year and then two years and it could be a few $100,000 less you have now for retirement because this money has 30 to 40 years to be growing and building off of itself. (03:21)

Quote for the episode: "There's never going to be a perfect time because action today means that you're probably a little less likely to be eating that snail down the road." (03:50)

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.

Transcripts

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 once again. Thanks for joining

Joseph Okaly:

me today on the Enjoy More 30s Family Finance podcast and our

Joseph Okaly:

series, The Financial Parables of Your Life. As you are

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probably now accustomed to each week, I'm sharing what may

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

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already familiar with. Working in kind of a financial twist to

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the familiar because stories are easier to remember than me

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badgering on about something or other to do with money. So

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hopefully these stories have a better chance of staying in your

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mind and staying with you day to day so that you can take some

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positive steps forward. As always, before I begin, please

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

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help as many young families out there that are just like you.

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So today please join me for our story, The Master Heron. A heron

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was walking sedately along the banks of a stream, his eyes on

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the clear water and his long neck and pointed bill ready to

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snap up a likely morsel for his breakfast. The clear waters

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swarmed with fish, but master heron was hard to please. "No

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small fry for me", he said, "such scanty fare is not fit for

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a heron." Now a fine young perch swam near. "No indeed", said the

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Heron, "I wouldn't even trouble to open my beak for anything

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like that." As the sun rose, the fish left the shallow water near

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the shore, and swam below into the cool depths towards the

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middle. The Heron saw no more fish and very glad was he last

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at breakfast on a very tiny snail.

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Too many times waiting for the perfect scenario can very much

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get in the way of making any progress at all. We wait, we

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hold out, "if this could just happen, then then I would be

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ready." Now right now today is almost always better than

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perfect. This comes up countless times when I'm working with

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families. The biggest time is just reaching out in the first

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place to making the call. Making that first contact. I'll hear a

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lot of "you know, I wanted to save up more before I reached

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out. I didn't know if I had enough yet to speak to you, you

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know, you probably have much bigger clients." So the question

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I always ask is "How do you think those clients got to be

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bigger?" With help, right? It's a catch 22 that we think that

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you know, we need to have some massive amount to have some help

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from an advisor, somebody else out there yet most people that

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you would say, "hey, they're doing really well, they have a

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lot built up". They probably had help, they probably reached out

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to somebody in the first place. And it comes up with other

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things too, like life insurance. "Well, yeah, I'm not at my ideal

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health right now. So I'll just wait a little bit until I get

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there." In the meantime, though, your family is severely exposed,

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severely under insured, unprotected, and this mentality

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from what I can see or have seen in my job can last many years.

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So get out there, get the policy now and then when you get in

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better health, go get a new one to replace it. Easy peasy.

Joseph Okaly:

Saving towards yourself can be another common example. I just

Joseph Okaly:

want to buy this or that first, then then I'll really start to

Joseph Okaly:

save I'm still young, right? I have time. Well, you put it off

Joseph Okaly:

for a year and then two years and it could be a few $100,000

Joseph Okaly:

less you have now for retirement because this money has 30 to 40

Joseph Okaly:

years to be growing and building off of itself. $1,000 today is

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not $1,000 40 years from now, it's a lot more. So overall,

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don't wait to be perfect. There's never going to be a

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perfect time because action today means that you're probably

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a little less likely to be eating that snail down the road.

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

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The Fisherman and the Little Fish. Yes. So some more fish

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back to back fish but you know Aesop loved his seafood

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analogies. So what can I tell you? I hope you've 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. I

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

Joseph Okaly:

Thanks for joining me today and I look forward to connecting

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with you again soon.

Voiceover Audio:

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

Voiceover Audio:

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

Voiceover Audio:

Registered Investment Advisor, Member FINRA/SIPC.

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