Get Rich From Nothing: Ben Franklin's Formula: Millionaire Money School, #2

By Christine Esser

Benjamin Franklin used a formula to become wealthy and you can use his same get-rich formula.  

Benjamin Franklin, one of the Founding Fathers of the United States, wanted to become rich to pursue his other interests.  Franklin's problem, however,  was that his family was not rich. He had no money and no one to help him. But Franklin was a keen observer of how things worked; thus, he observed others, and then he created a formula to become rich that has been successfully used by others in each new generation. Although Franklin began as a poor, runaway teenager,  he retired at age 42 as a wealthy gentleman. Get Rich From Nothing: Benjamin Franklin's Formula shares how he did it – the complete formula. If you are willing to work, you can modify this same formula to fit your circumstances to get rich too.   

* Learn how Benjamin Franklin was able to build wealth quickly

* Learn how to live on less than you earn and invest the difference by budgeting to get rich. 

* Learn how to increase your skills and earn more money by reading and seeking mentoring opportunities

   Click to buy and learn from Benjamin Franklin how to get rich 

• Language: English
• Publisher: Christine Esser
• Release date: Nov 26, 2019
• ISBN: 9781393181996

Christine Esser

Author Christine Esser writes nonfiction books about money and historical fiction books where the characters face money issues. My cat, Zeus, the fastest rubber ball retriever in the West, encourages me in these efforts. 

Book preview

Introduction

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"There are two ways to increase your wealth. Increase your means or decrease your wants. The best is to do both at the same time."

- Benjamin Franklin

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If you want to be financially free and you are currently starting from nothing (or even in the hole), your small investment in this book can help you get there. The  strategies in this book  are time tested and continue to be successfully used by each new generation since Franklin uncovered them and shared them through his writings almost three  hundred years ago.

Franklin’s formula for obtaining wealth can work especially well if you are young.  Although you don’t have to be young to benefit, the younger you are, the more time you will have to create your own personal success plan and work the plan to achieve your goals.     

This book lays out thirteen of the strategies Benjamin Franklin used to transform from a teenage runaway with little more than the equivalent of a dollar in his pockets to becoming independently wealthy. In other words, he achieved financial freedom after starting with no money and in a strange city where he didn’t know anyone. This formula was uncovered directly from Benjamin Franklin through his writings in The Autobiography of Benjamin Franklin, Franklin’s book, The Way to Wealth, his Poor Richards Almanacks, and newspaper articles.

This formula allowed Franklin to become rich enough that he did not have to continue to work after he was forty-two years old. That is when Franklin retired from active business and was accepted as a wealthy gentleman in what was then known as the American colonies.  

Although Franklin only had two years of formal education, he never let that stop him from pursuing his interests. Franklin started out in life as the son of a  soap and candle maker who struggled to provide for his family. Yet, later in life, Franklin mixed with the wealthy and powerful, and he stood before five different Kings to advise them.  

Most people who study Franklin agree that he was a genius. But you can use Franklin’s formula to obtain wealth even if you do not consider yourself to be especially smart.

Franklin’s strategies can be modified to work for almost anyone who is willing to work hard (at least initially) to achieve financial independence today in any country where capitalism thrives. This is especially true if that person has a trade that can be grown or franchised into a larger enterprise, such as an author, commercial printer, plumber, carpenter, soap maker, salesperson, merchant, entrepreneur of any type, etc.   

These methods are timeless. They can work as well today (or maybe even better because we have better tools and  access to communication channels) as they did almost three hundred years ago when Franklin began his journey to creating wealth. By studying Franklin, we can observe his mindset and learn to use long-lasting strategies that stand the test of time.

Franklin’s methods have been modified and used by many others. For example, if you are a fan of Grant Cardone, author of The 10X Rule, he used a modified form of Franklin’s methods to become rich.  Years earlier, if you followed the author Michael Masterson (a pen name for Mark Ford), author of Automatic Wealth, he also used a modified form of Franklin’s methods. Ray Kroc, the founder of McDonald’s, employed Franklin’s methods relatively late in life but he still achieved spectacular results. Sam Walton, founder of Walmart achieved outstanding results using a modified form of Franklin’s methods. If you are a fan of Grant Sabatier, author of Financial Freedom, he modified and mastered Franklin’s methods and earned his million-dollar nest egg before age 30 in only five years.  The list could go on for many pages. And it would be a lengthy list filled with the names of the wealthy.

Most self-made, wealthy people start by paying attention to how much they earn and how much they spend. They maximize earnings and minimize expenses. Then they invest the money saved. This is a timeless method that works for everyone, and it has worked for many generations.

Thus, your wealth will be determined by how much money you are able to invest over time and the rate at which that investment grows. But in order to have money to invest, most people must have an adequate income, steadily increase their income, and keep expenses low. This is where almost everyone who is self-made must start. And because of the way compound interest works, the earlier that money is invested, the more it will grow over time.

If you are willing to think about your situation and use what is readily available to you, you can modify Franklin’s formula to work for you.  Like  Franklin, the first thing you need is the desire to become financially free. You probably already have that, or you wouldn’t be reading this book. But if you don’t have a strong desire to be financially free,  there is nothing in this book that is likely to help you.

You must be willing to implement the strategies presented here by modifying each strategy to fit your current circumstances. Without action, nothing will change in your life. That is why your desire to become wealthy and financially free is the first step in the process.  Without a strong desire, you are not likely to take the persistent actions that are needed to make money, keep it, and invest it wisely like Benjamin Franklin.

The first tip to getting rich when you are starting from nothing (or maybe in the hole for many of us) was presented as a quote by Franklin at the beginning of this chapter: There are two ways to increase your wealth. Increase your means or decrease your wants. The best is to do both at the same time. This is the basic foundational step to wealth that almost everyone follows to become wealthy.

According to Franklin, "If you know how to spend