Slow and steady wins the savings game

Despite the pizzazz of the hare, he’s likely to burn out fast.

By BRUCE SCHLAPPI

Who doesn’t want to get rich quick?

There are plenty of people who claim they can help you do it. But if they could, everyone would get in on the deal. 

The much more common scenario is going broke quick. But there isn’t much press about that.

The temptation to toss aside wisdom to grab the elusive buck is not new. In fact …

“There once was a speedy hare who bragged about how fast he could run. Tired of hearing him boast, Slow and Steady, the tortoise, challenged him to a race. All the animals in the forest gathered to watch.

“Hare ran down the road for a while and then paused to rest. He looked back at Slow and Steady and cried out, ‘How do you expect to win this race when you are walking along at your slow, slow pace?’

“Hare stretched himself out alongside the road and fell asleep. …

“Slow and Steady walked and walked. He never, ever stopped until he came to the finish line. …

After that, Hare always reminded himself, ‘Don’t brag about your lightning pace, for Slow and Steady won the race!’

Yes, Aesop, the Greek storyteller from 600 B.C., called it centuries ago. When it comes to managing money, or any significant human endeavor, slow and steady brings results.

Long after the excitement has left the “hare”, Slow and Steady will continue to steadfastly contribute toward a reasonable retirement. And sleep well at night.

The End.

Bruce Schlappi is president of Schlappi Financial Group, a Kansas City firm specializing in whole life insurance and annuities..