The 21st century way to wealth: why crooks and con-artists fail

By Jeffrey Reeves MA

EUREKONOMICS[tm]


Editor's note: Jeffrey Reeves' introduction to "The Way to Wealth" provides an overview of this weekly blog series.

“Many, without labor, would live by their wits only, but they break for want of stock; whereas industry gives comfort, and plenty, and respect.”

Benjamin Franklin in the persona of Father Abraham

Following Father Abraham’s thoughts from before, it only makes sense that those who "live by their wits only" and avoid labor, eventually come to a bad end.

Consider where the petty thieves, drug dealers, con artists, even organized crime bosses end up. "They break for want of stock." There’s nothing of value in their choices or their work.

Those who work diligently, on the other hand, take control of their money, their time and their lives to arrive at a different place. They earn the respect and admiration of their community and live comfortably because of it.

By way of example, sometimes Patrick’s workload writing, helping clients and mentoring other advisers is so heavy that he has to hire out some chores around the house. Pat’s favorite chore to hire out is mowing the lawn and trimming around the sidewalks, trees, planters and bushes.

The 72-year-old man that does this work is a fine example of a person who has diligently made his way through life for the past four decades on his own terms. Everyone who employs him respects and admires him; he works only when he chooses based on his age and energy level, but lacks for neither money nor leisure.

Will you “break for a want of stock” or take control and have “comfort, and plenty, and respect?"