Editor's note: Jeffrey Reeves' introduction to "The Way to Wealth" provides an overview of this weekly blog series.
“...laziness travels so slowly, that poverty soon overtakes him.”
Benjamin Franklin in the persona of Father Abraham
There’s another type of person that tries to find the easy way to do everything. These folks want to delegate work and use other people’s money to build wealth while they relax and await their fortune.
In colonial America, there were many treasure hunters looking for buried pirate treasures. They would wander the coastal regions with “divining rods” or “dowsing rods” hoping that the tug of hidden and easily acquired wealth would soon present itself.
Benjamin Franklin tells the story of one man who gave a piece of land to his son, who had been seeking buried treasure. He assured the lad that the piece of land would yield much gold and great wealth, but admonished him that the wealth would never be buried deeper that the depth of a plough blade.
21st century Americans look to behemoth financial corporations to sell them mutual funds, IRA’s, 401(k)s and their equivalents as the buried treasure that will bring them wealth and well being. They are not a whole lot wiser than their ancestors who wandered the land with dowsing rods. Money you do not manage and control — and managing your money takes work — will not produce the treasures you would have for your clients or yourselves as you progress through your life.
Just as you will fail to create adequate income if you do not work hard at your job or profession, you will fail to create true wealth if you do not personally control your money.
Think about it. The secret is control.