Power of Storytelling: A Savings Story

We all know the power of a good story.  For a great example of this, check out Steve Jobs Commencement Address at Stanford back in 2005.  I bet those stories he tells will stick with you for a while.  So, how can we tell a story that will make it clear to students that saving is the key to incredible wealth?

Here are two that provide an incredible contrast and show that it is not how much you earn that matters but how much you save (also great message about giving back also)!

Oseola McCarty’s story is nothing short of amazing. She quit school at 12 and began taking in
laundry for a living. She never earned more than $10 a bundle. For the next 75 years, she worked hard and pinched her pennies. When she retired she had saved $280,000 and gave more than half of it to the University of Southern Mississippi for a scholarship fund.

Oseola started saving when she was a little girl — for candy. As she got older she saved for her future.  Every month, she held back just enough to cover her expenses, and put the rest in the bank.  The moral of this story? It’s simple: no matter who you are, no matter how old you are, no matter what you do for a living . . . you can save for the future too.

  •  Contrast her with the story of the NBA player, Antoine Walker (DailyMail); and he is certainly not alone among athletes and celebrities:

“NBA star Antoine Walker blew through the $110 million he earned in a successful basketball career so quickly that he was forced to file for bankruptcy just two years after he retired.

Walker, who was forced to come out of retirement and play in the obscure development league, says bad real estate deals, gambling debts and 14 years of living the high life have left him all but broke today.  It is a far cry from his glory days in the NBA, where he was named to the all-star team three times and won a championship in 2006.”