Episode 128 – The Fisherman Parable

Episode 128 – The Fisherman Parable

In this episode of the Financial Wellbeing Podcast, we visit the well-known Fisherman Parable: a story about money, happiness and what it really means to have enough.

Chris, David and Producer Tommo explore why the parable is useful, but perhaps a little too simple. Money may not be the source of happiness, but it can provide security, choice and peace of mind. The real question is not just “how much is enough?” but “enough for what?”

Introductions

Chris Budd – Founder of Ovation Finance, author of The Four Cornerstones of Financial Wellbeing, trustee of a hospice and, as someone else once described him, the “grandfather of financial wellbeing.”

Tom Morris – Managing Director of Ovation Finance. Award winning, Bristol-based, chartered, B-Corp certified and employee-owned.

Fancy a chat with Tom Morris and the team at Ovation? Contact details here

Tight Ass Tommo

Featuring long-running manga series One Piece on BBC iPlayer, selling your car and not ironing your shirts!

The Fisherman Parable Explained

There was this chap lazing on the beach, sipping a beer. He’s fishing with his rod propped up beside him, and he lives in a grass hut on the shore with his family.

A businessman comes up to him and asks the fisherman, “How many fish have you caught?”

And the fisherman replies, “Three. Enough for my family for supper. I’m going to go and have a siesta soon.”

So the businessman replies, “You know what, you could catch a lot more fish if you tried a bit harder.”

And the fisherman says, “Well, why would I do that?”

And the businessman says, “Because as well as having fish for yourself and your family, you’d have more that you could then sell for a profit.”

The fisherman replies, “Then what would I do?”

And the businessman says, “Well, with that profit from the sale of the extra fish, you could buy a boat. Then you could catch even more fish and make more profit. Then you could buy yourself another boat and pay someone to go out and fish for you.

“After a while, you could have a whole fleet of fishing boats catching and selling loads of fish, making lots of profit.”

And the fisherman replies, “Then what would I do?”

“Wow,” the businessman says, “you could use the profit to perhaps build a nice bar on the beach that can then create more profit. You can use that profit to build some hotels. And within a few years, you’d be a very wealthy man.”

And then the fisherman asks, “Then what would I do?”

And the businessman says, “Well, then you could be so wealthy you wouldn’t have to work at all, and you could spend your time lazing on the beach, sipping beer and fishing.”

What is that parable is all about then?

Why the Parable Is Too Simple

Link to Episode 113 – Maslow, Money and Happiness

Episode 125 – Feeling Financially Safe

Real-Life Examples of Financial Wellbeing

Start With Happiness, Not Money

What Would the Fisherman’s Financial Plan Look Like?