The Carpenter's Stool | Series 8.11

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Welcome to the Enjoy More 30s Family Finance

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podcast. The only podcast dedicated to making life more

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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.

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Hello, welcome you are right back here at the Enjoy

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More 30s Family Finance podcast with our series, The Financial

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Parables of Your Life. As you are probably very much

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accustomed to, we are going through a different story or

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parable or fable or one of those every week. Some you're probably

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familiar with this week, maybe not. This one is a little bit

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more created for you. Because just overall stories are better.

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I can go on and on about standard deviation and expected

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returns but a story about an animal and some guy will

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probably be way easy for you to keep in your head. As always,

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before I began, please share please like, leave those

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reviews. I would really love if I could reach and help as many

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young families out there that are probably very similar to

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you.

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So today please join me for our story, The Carpenter's Stool. A

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young man started an apprenticeship with the famed

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carpenter in town. He was filled with excitement at the prospect

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of learning from a master. The carpenter was physically older

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than his years, and his back was very poor so the young man was

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fortunate for the opportunity to learn from him. Every day when

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he came home, his father would ask him what he learned. One day

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he might say carving, or joinery or finish work. Each lesson was

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more marvelous than the last. "Take note", the father would

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always say, "of all he has to teach you." Some time went by

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and the young man completed his apprenticeship. He was now ready

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to set out on his own as a carpenter himself. "You have

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learned so much at the hand of the master carpenter. What great

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project will you take on first?" his father asked him, young man

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answered without hesitation. "A proper stool to take care of my

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So it's easy to get caught up with all the fun or demanding

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elements of daily life. The carving, the joinery, the finish

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work to make it look beautiful. In real life, maybe soccer

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practice, trips to the beach, that deadline that you know is

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always coming up at work. So too often we forget to take care of

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that stool that we're sitting on to do all of that. That stool,

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that's our foundation. The financial stool has three legs,

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just like the carpenter's would. A strong triangle base. Our

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goals for happiness sit on the top of these three legs, they're

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cashflow, insurance protection and investment strategy. If one

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of them is neglected or not given the full attention as the

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others, we put ourselves in a position of having some

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potential problems. Investments may be the most fun to talk

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about. I mean, budgeting and insurance against dying aren't

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exactly dinner conversation points. But all are really,

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really important to a healthy and stable financial situation

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for your goals to be sitting on. If the investment leg is longer

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than the other ones. If the other ones are falling apart.

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It's not going to be a solid stool. So build yourself a

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proper stool, or find a mindful carpenter out there in the form

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of a financial advisor to build one for you. That way your

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family and you have something to sit on and put your goals on.

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

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The Lion and the Mouse. I hope you enjoyed today's story.

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Please remember to review, to share, to like to do all that

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great stuff. And if you need any other help, don't hesitate in

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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.

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back."

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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.