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The Crow and the Pitcher | Series 8.6
Episode 620th June 2022 • Enjoy More 30s: Family Finance • Joseph P. Okaly
00:00:00 00:04:36

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Shownotes

"Little by little, a little becomes a lot...plus compounding interest!" - paraphrasing a Tanzanian proverb

  • You get your first 401(k) statement that you threw a couple pebbles into and it essentially says you know, "well thanks for playing, but you still have pretty much nothing", right? (02:19)
  • And the great thing, unlike the crow with his little pebbles, the pebbles that we're using those amounts grow on themselves. (02:46)
  • Every dollar that you put in grows on the next dollar and the next dollar. So every pebble, when you do it, is going to raise the water up faster to the surface than the one before it. (02:53)

Quote for the episode: "If you were wanting to retire tomorrow, it probably wouldn't matter if you threw in a couple more pebbles. It really wouldn't. If you're retiring 30 years from now though, it certainly does matter a lot." (03:29)

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

Voiceover Audio:

podcast. The only podcast dedicated to making life more

Voiceover Audio:

enjoyable for young families by hitting on the financial topics

Voiceover Audio:

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

Voiceover Audio:

from simply enjoying life.

Joseph Okaly:

Hello, and welcome once again to the Enjoy More 30s

Joseph Okaly:

Family Finance podcast, Our series that we're working on

Joseph Okaly:

right now is The Financial Parables of Your Life. Each

Joseph Okaly:

week, I'm sharing with you what will probably be a story that

Joseph Okaly:

you've heard of before that you're familiar with. But it's

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going to be somewhat altered. It's going to be altered to help

Joseph Okaly:

teach not just a life lesson, but a financial life lesson,

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because stories are just easier to remember. So we're going to

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use that to try to help us remember some of these key

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concepts.

Joseph Okaly:

As always, before I begin, please share and like please

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leave reviews. I'd love to reach and help as many young families

Joseph Okaly:

out there that I can that are probably just like you.

Joseph Okaly:

So today, please join me for our story, The Crow and the Pitcher.

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In a spell of dry weather, when the birds could find very little

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to drink, a thirsty crow found a pitcher with a little water in

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it. But the pitcher was high and had a narrow neck and no matter

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how he tried, the crow could not reach the water. The poor thing

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felt as if he must die of thirst. Then an idea came to him

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picking up some small pebbles, he dropped them into the

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pitcher, one by one. With each pebble, the water rose a little

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bit higher, and a little bit higher, until at last it was

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near enough so that he could drink.

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So something as small as a pebble, just a little tiny

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pebble, when it's combined together with lots of other

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little things, other small pebbles, it can help you achieve

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what you want to achieve. And not just something small, like

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taking a drink, but really large goals as well. And when you're

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young, it may feel almost like a waste of time maybe putting that

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pebble into the pitcher. It probably feels like you're

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putting a pebble into probably more like a swimming pool when

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you're young. I mean, it's just a pebble, right? It's just a

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pebble for crying out loud! You get your first 401(k) statement

Joseph Okaly:

that you threw a couple pebbles into and it essentially says you

Joseph Okaly:

know, "well thanks for playing, but you still have pretty much

Joseph Okaly:

nothing", right? So who cares? Why should I even waste my time

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with this? When you put that small amount away though, and

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you keep doing it month after month after month, year after

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year, it will build up. It will fill that pitcher and now you

Joseph Okaly:

can get what you're wanting to achieve. And the great thing,

Joseph Okaly:

unlike the crow with his little pebbles, the pebbles that we're

Joseph Okaly:

using those amounts grow on themselves. Every dollar that

Joseph Okaly:

you put in grows on the next dollar and the next dollar. So

Joseph Okaly:

every pebble, when you do it, is going to raise the water up

Joseph Okaly:

faster to the surface than the one before it. Every pebble is

Joseph Okaly:

more like a little sponge. It's slowly expanding more and more

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over time more and more rapidly filling it up. Then if you can

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save a little bit more put in a little bigger pebble, you can

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save maybe $200 instead of $100. $250 per month instead of $200

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per month. It's going to add up more and more over time. If you

Joseph Okaly:

were wanting to retire tomorrow, it probably wouldn't matter if

Joseph Okaly:

you threw in a couple more pebbles. It really wouldn't. If

Joseph Okaly:

you're retiring 30 years from now though, it certainly does

Joseph Okaly:

matter a lot.

Joseph Okaly:

So thanks for tuning in today and join us for next week's

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story, The Empty Boat. I hope you enjoyed today's story.

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Please remember to leave those reviews 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 tuning in today and joining me here and I look

Joseph Okaly:

forward to connecting 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,

Voiceover Audio:

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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