Great Lessons From Great Men
Great Lessons From Great Men
By J.D. ROTH 21 June 2020
Because I write a personal finance blog, I read a lot of books about money. I'll be honest: they're usually pretty boring. Sure, they can tell you how to invest in bonds or how to find the latest loophole in the tax code. But most of them lack a certain something: the human element.
Over the years, I've found that it's fun to read a different kind of money book in my spare time. I've discovered the joy of classic biographies and success manuals, especially those written by (or about) wealthy and/or successful men. When I read about Benjamin Franklin or Booker T. Washington or J.C. Penney, I learn a lot — not just about money, but about how to be a better person.
Here are some of the most important lessons that these books, written by and about great men of years gone by, have taught me.
Be Tenacious
“Anybody can be a halfway man, but the one who rises above this class is the one who keeps everlastingly pushing.” — J. Ogden Armour, Touchstones of Success (1920)
More than any other, one lesson stands out from the books I've read: Never give up. If you have a goal or a dream, pursue it. If there's a cause that you truly believe in, then fight for it. That's not to say that you should doggedly chase greed or gluttony, but that you should do your best to achieve those things that are important to you. Great men — and great women too! — struggle through daunting obstacles to reach their destinations. In everything that you do, do your best. And remember: The road to wealth is paved with goals.
Exercise Self-Control
“‘Tis easier to suppress the first desire, than to satisfy all that follow it.” — Benjamin Franklin, The Way to Wealth (1758)
Because he had very real trouble regulating his impulses, Benjamin Franklin famously attempted to codify his quest for self-control. As Brett wrote at The Art of Manliness, Franklin committed himself to thirteen virtues, and he developed a system for tracking how disciplined he was in his daily pursuit of these ideals.
There's nothing wrong with an occasional indulgence. But when the indulgence becomes a habit — or worse, a vice — this can affect your life. Even destroy it. If you have habits that prevent you from fulfilling your potential, find a way to boost your self-control. (You might, for example, use Joe's Goals to track your progress, much like Benjamin Franklin did.)
Do the Right Thing
“To be truly rich, regardless of his fortune or lack of it, a man must live by his own values. If those values are not personally meaningful, then no amount of money gained can hide the emptiness of life without them.” — John Paul Getty, How to Be Rich (1961)
Have a code of honor, and live by it. Your code of honor might come from your faith, or from your education, or from your family. Whatever the source, live by these values. Life is filled with temptations.
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