The Founding Father of America, Benjamin Franklin, who was also a Scientist, Innovator left such a legacy that his INVESTING BRILLIANCE continued to help thousands of Americans even after 200 years of his Death.
How did he do this?
When he died in 1790, he left a will which gifted 1000 Pound Sterling ($4,500) each to 2 of his favourite cities.....his native Boston and his adopted city Philadelphia.
But he put a condition on Using this Gifted Money.
He stipulated that the Gift money had to be put in a Trust which would earn Compound Returns over the next 200 years.
However, after 100 years, each city was allowed to use 75% of the corpus on Public Utilities (Road, School, Parks, etc) and continue to put the remaining 25% for compounding growth.
The Corpus would grow by lending Principal young Entrepreners who would want to set up their own businesses.
It was assumed that the borrowers would repay the Loan with interest and thus the Size of the Corpus would grow.
The funds were thus given to small businessmen and eager entrepreneurs who wanted to start a business.
The loans were given at nominal rates even lesser than what Banks used to charge.
SO....WHAT HAPPENED TO THE CORPUS ?
Accordingly, after 100 years, the BOSTON fund had grown to US$3,91,000 and as instructed, the corpus were spent on Public Works including setting up of the Benjamin Franklin Institute of Technology by spending about $3,22,490.
And after 200 years, in 1990, the Boston fund corpus had grown to US$50,00,000
The Philadelphia fund also was used wisely. The city's 1st library, its 1st hospital, street lights and The University of Pennsylvannia,etc came up from the fund set up by Benjamin Franklin.
Philadelphia also used the corpus to cover the public debt.
The Philadelphia had grown to about half of Boston corpus
Finally, after 200 years, in 1990, the balance corpus was handed over to the Franklin Institute in Philadelphia and the Benjamin Franklin Institute of Technology in Boston.
There were many destruction and disasters that happened during these 200 years
The 1812 War
The Civil War
The World War 1
The Great Depression
The World War 2
and many recessions
Benjamin Franklin believed that money left untouched and allowed to grow is the best recipe for TRUE FINANCIAL SUCCESS and he proved it with this True Live Example.
This is a true blue example of Benefits of Starting Early and Staying the Course when it comes to a Long Term Goal.
And of course, a great way of leaving a legacy.
In a sense, Benjamin Franklin was the FIRST REAL LONG TERM INVESTOR.
BEFORE INVESTING KNOW THIS.....
It was in 1962 that NASA knew how to put a man on the moon. However they actually put a man on the moon only in 1968. Why?
Simply because NASA had to perfect the art of bringing him back.
Likewise, Just investing and getting a BIG Corpus is not enough.
Do you know how to handle the Withdrawals???
PLAN FOR THAT TOO!!!
Get more of such facts and knowledge from the best selling book
DONT RETIRE RICH
Srikanth Matrubai Author of the Amazon Best Seller DON'T RETIRE RICH