It is by managing your finances that you write the story of your life. You are both the author and the story’s principal character. Resolve to perform what you ought.—Benjamin Franklin (1778, by Joseph Duplessis; Public Domain)
As a financial professional for over a generation, I have worked with hundreds of families to help them create wealth and enjoy the lifestyle they desire. Some of the financial decisions made by family members—typically children or grandchildren of clients—have astounded me. How many times I have said to myself, “What in the world could have possibly led to that choice?” We develop habits with respect to our personal finances; once these habits become ingrained, they lead to virtually automatic responses—for good or bad. I love this quote from Franklin because the financial decisions we make on a regular basis do, indeed, help write the story of our lives. In most cases, we know deep down what we “ought to do;” let us resolve to select the right path, so that we may end up enjoying the fruits of our wise actions.