Benjamin Franklin died a millionaire, even though this book focuses on the monetary side he lived a wealthy life in many aspects. The Way To Wealth is full of priceless nuggets of wisdom. The book starts with a crowd complaining about high taxes. Their query generates this powerful quote, “We are taxed twice as much by our idleness, three times as much by our pride, and four times as much by our folly.” Folly is how one says stupidity in polite company. This quote is utterly accurate, our sloth is a waste of life, time and of our beautiful planet, our pride in whatever it may be blinds us, and our folly well that’s just stupid.
Here is another quote for all of us want-a- preneurs,”Industry need not wish, and he who lives upon hope will die fasting.” Instead of hoping that your business will blow up just because you created it, get out there and take it to the next level. Ha-ha, here is another one, we are our own master and servant, therefore, we should be embraced to catch ourselves slacking off. Now you know were Tony Robbins got, “people are praised in public for what they practice in private.”
Next is frugality, here is a word for all the people in debt, and for us millennials who made a sport out of balling-out. Work but don’t just do it to impress others, be smart with your money to have a “lean will” when you die. To me, this means making sure that whatever is left over from your existence is well used or invested in the betterment of the ones that you care about and all others too.
Franklin had already recognized the cognitive effect of too much wealth in the wrong hands. Read article’s or watch videos of lottery winners that go broke or look up broke pro athletes. “Buy what you do not need, and soon you will sell your necessities.” Another fallacy that I enjoyed was the mental domino of chronic shopping when you get your first pair of designer sneakers the following ten are going to appear as a necessity of pride. If one can suppress the urge to buy that first pair the rest will stay at bay. Benjamin also states that debt is the equivalent of sacrificing one’s freedom and becoming a servant, I am sure that any financially sound person would agree.
These thirty pages of gold should be a mandatory reading by law. Being the oldest of my siblings this book made me feel like if I was listening to the financially savvy big brother/sister that I never had. Ha-ha, I just ordered four copies of this book as gifts. I am also ashamed that I barely read it at twenty-three years of age. If I had read this at sixteen, I would be in a totally different environment right now.