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The Empty Boat | Series 8.7
Episode 727th June 2022 • Enjoy More 30s: Family Finance • Joseph P. Okaly
00:00:00 00:04:22

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Accidents will happen in life so captain your ship or at least hire one!

  • "Yes", he replied, "the boat went past me first on its way towards you." "You were lucky it missed you. I wasn't so lucky." "Well," said the newcomer, "I saw that it might hit me so I moved out of the way." (01:51)
  • Empty boats in the way of a job loss to a car accident to a house fire to a fall down the stairs, it can all hit us when we're unaware. (02:28)
  • By planning for these occurrences though ahead of time, we can avoid our boat being wrecked, even if we can't always avoid it being hit. (02:38)

Quote for the episode: "And in all of it by having a plan we're picking up our heads and we're looking upstream and we're ready with an oar in our hand to try to get out of the way." (03:07)

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

Voiceover Audio:

from simply enjoying life.

Joseph Okaly:

Hello again, we are here on the Enjoy More 30s

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Family Finance podcast talking to you about The Financial

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Parables of Your Life. We're talking about stories that

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you've heard before, but just an altered version of them with a

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financial twist. Because you know, stories are easier to

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remember so that way these things have a better chance of

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sticking with you in your day to day life. As always, before I

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begin, please share please like please leave reviews. I'd love

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to reach and help as many young families out there that are just

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like you.

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So today please join me for our story, The Empty Boat. A man is

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enjoying himself on a river at dusk. He sees another boat

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coming down the river toward him. At first it seems so nice

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to him that another boat is enjoying the river on a nice

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summer evening. Then he realizes the boat is coming right towards

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him. Faster and faster. He begins to yell "Hey, hey, watch

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out for Pete's sake turn aside!", but the boat just comes

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right at him faster and faster. By this time he is standing up

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in his boat, screaming and shaking his fists. And then the

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boat smashes right into him. As he recovers from the shock, he

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stands up full of fury, only to look inside where he sees that

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it's an empty boat. As he stood in disbelief, another boat also

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from down the river came alongside him. "Did you see

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that?" the furious man asked to the newcomer. "Yes", he replied,

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"the boat went past me first on its way towards you." "You were

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lucky it missed you. I wasn't so lucky." "Well," said the

Joseph Okaly:

newcomer, "I saw that it might hit me so I moved out of the

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way."

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In life, there are lots and lots of empty boats on our river. We

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would like to think that everything is as it should be,

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that all boats have responsible captains, that everything is in

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control, but life if we are being honest with ourselves, we

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know it doesn't work that way. Empty boats in the way of a job

Joseph Okaly:

loss to a car accident to a house fire to a fall down the

Joseph Okaly:

stairs, it can all hit us when we're unaware. By planning for

Joseph Okaly:

these occurrences though ahead of time, we can avoid our boat

Joseph Okaly:

being wrecked, even if we can't always avoid it being hit.

Joseph Okaly:

Proper life insurance, for example will allow your family

Joseph Okaly:

to carry on financially if you're not here. Proper

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disability insurance will allow you to not become a burden on

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those you care about most. Proper liability coverage like

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through an umbrella policy won't let maybe an honest mistake turn

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into financial ruin. And in all of it by having a plan we're

Joseph Okaly:

picking up our heads and we're looking upstream and we're ready

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with an oar in our hand to try to get out of the way. Or at the

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very least we're hiring maybe a captain to look upstream on our

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behalf.

Joseph Okaly:

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

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The Master Heron. A heron is an Ygritte stork like kind of a

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bird if you're wondering, I was a little bit there. So anyway, I

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hope you enjoyed today's story. Please remember to review and

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share for others. And if you need any help, don't hesitate in

Joseph Okaly:

reaching out. I probably have helped someone just like you.

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Until next week. Thanks for joining me today and I look

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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,

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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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