The way to wealth by Benjamin Franklin Benjamin Franklin is the first success and personal development coach perhaps those words weren’t used in his time but Essentially, that’s one of the many things he wants in This video we want to take a look on his views on money. And why his Philosophy was instrumental in forming the American middle class and the values of capitalism frugality and smart planning Nowadays with credit cards and student loans some say we’re losing those values so Maybe there’s no better time to review and in some cases rethink the ways we spend money in His one and only style Benjamin Franklin gave us his ideas and recommendations on how to grow economically Please subscribe to our channel and like this video if you find it helpful. We appreciate your support We’ll also leave an Amazon link in the description for your convenience in case you decide to purchase this book Using a lot of direct quotes from Poor Richard’s Almanack Franklin was instrumental in forming the philosophy of the middle class in America Charlie Munger Warren Buffett’s partner and friend named the only book he’s personally written poor Charlie’s Almanac in dedication to Benjamin Franklin that Should tell us something in His book money. Tony Robbins gives us a little history on what Ben Franklin put down in his will Concerning what should be done with some of his money in 1790 he left about $1,000 each to the cities of Boston and Philadelphia His bequest came with some strings attached Specifically the money was to be invested and could not be touched for 100 years at that point each city could withdraw up to $500,000 for designated public works projects any remaining money in the account could not be touched for another 100 years During that period the US stock market grew at an average of 8% per year Finally two hundred years after Franklin’s death each city would receive the balance which in nineteen I had grown to approximately 6.5 million dollars imagine out $1,000 grew to 6.5 million with no money added all over those years Compound interest is such a powerful tool that Albert Einstein once called it the most important human invention in all of human history all this to say we can safely assume that Franklin was a brilliant financial planner in This book he gives us his ideas and recommendations on how to grow economically With a style and wit that remains unique to this day if you love life then you do not squander time for that’s the stuff life is made of How much more than is necessary do we spend in sleep forgetting that? the sleeping fox catches no fall tree Franklin was a big believer in waking up early he that rises late must try all day and shall scarce overtake his business at night and the classic early to bed early to rise makes a man healthy wealthy and wise according to the founding fathers there never was and there never will be a substitute for hard work at The working man’s house hunger looks in but dares, not enter It comes down on how we spend our time in the book He asks, if you are a servant would you not be ashamed that a good master should catch you idle Are you then your own master? Be ashamed to catch yourself idle when there’s so much to be done for yourself your family your country and your king Leisure is the time for doing something useful Ben Franklin was also big on frugality and it’s definitely one of the cornerstones of his philosophy if you would be wealthy think of saving as well as getting The Indies have not made Spain rich because her outgoes are greater than her incomes Also, he was not a fan of taking on debt to him. It was the opposite of being frugal beware of little expenses a small leak will sink a great ship Özil a fat kitchen makes a lien will on The subject of knowledge he advised people to use mentors and books Experience is an expensive school, but fools will learn in no other and those who will not be counseled cannot be helped Always try to instill good principles he writes Women and wine game and deceit make the wealth small and the want great Everyone serious about becoming wealthy must read this book in our humble opinion It’s full of witty quotes and eloquent thoughts and because of them the philosophy sticks Here’s our favorite Fools make feasts and wise men eat them Thank you for watching Tell us in the comments what’s your favorite book face book read and grow one Twitter? twitter.com slash read and grow one you