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Benjamin Franklin's "The Way to Wealth"
Posted: Mon Sep 16, 2013 1:29 pm
by MediumTex
If you haven't read Benjamin Franklin's "The Way to Wealth" you should check it out.
It's about 7 pages and can be read in 20-30 minutes and it is a really insightful and motivational piece.
http://www.bfranklin.edu/johnhibbs/WayToWealth.pdf
Re: Benjamin Franklin's "The Way to Wealth"
Posted: Tue Sep 17, 2013 12:45 am
by edsanville
It would be thought a hard government that should tax its people one tenth part of their time, to be employed in its service.
How times have changed...
Re: Benjamin Franklin's "The Way to Wealth"
Posted: Tue Sep 17, 2013 3:18 pm
by Lone Wolf
Great essay. Music to the ears of the frugal.
While the whole thing's good, this bit seemed particularly relevant for those with Permanent Portfolio inclinations...
[quote=Ben Franklin]Work while it is called today, for you know not how much you may be hindered tomorrow[/quote]
Reminded me a great deal of...
[quote=Harry Browne]Rule #2: Don’t assume you can replace your wealth
The fact that you earned what you have doesn’t mean that you could earn it again if you lost it. Markets and opportunities change, technology changes, laws change. Conditions today may be considerably different from what they were when you built the estate you have now. And as time passes, increasing regulation makes it harder and harder to amass a fortune.
So treat what you have as though you could never earn it again. Don’t take chances with your wealth on the assumption that you could always get it back.[/quote]