On Today's Episode:
What can we learn from Aesop’s fables when it comes to gaining financial wisdom? Sean shares how each of these fables relate to our own financial decisions.
0:28 - Time for back to school!
1:52 - What can we learn from the miser and his gold?
6:38 - The tortoise and the hare shows us that slow and steady wins the race.
10:29 - What about the dog and his shadow?
More About Today's Episode:
There are a few fables that teach us about life and money. Today, we’ll go through some fables and find out what they teach us financially.
In the miser and his gold, a miser digs up his gold to look at it but then it got stolen. Instead of using it, he would only look. Wealth not realized and used isn’t wealth. While we might be programmed to save and accumulate, don’t forget to use it. Sometimes Sean has to convince clients to spend their money. Having financial safety and security is good, but learn how you can use that money to your advantage while you’re still around.
The tortoise and the hare is a well-known story of the overconfident hare who doesn’t plan ahead while the slow and steady tortoise comes out ahead. Rushing to make money quick isn’t the answer you want. The slow and steady approach to accumulating wealth is often what works best. Building consistent habits over time will lead to financial success.
Lastly, the dog and the shadow is about a dog with a piece of meat walking home. When crossing a stream, the dog sees its reflection and tries to grab the piece of meat in the reflection and ends up losing the meat in his mouth. In the financial world, if you don’t have a clear plan, you might try to jump towards something else too soon.
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