On Prosperity

Dear Blog Readers:
You may have missed my blog this past week, when I was on vacation, cruising in the Gulf of Mexico. My sister has asked me to post more narrative about that trip, but I will save that for a later blog. One of the joys of a long journey is the opportunity to catch up on reading materials. Heretofore, is my summary of a great read on prosperity by Tom Butler-Bowdon, entitled "50 Prosperity Classics."

It is a great compilation of wisdom from the best books on wealth creation and abundance highlighting noted authors and captains of industry such as Richard Branson, Warren Buffett, Andrew Carnegie, Milton Friedman, Bill Gates, Napoleon Hill, Conrad Hilton, Robert Kiyosaki, Adam Smith and Donald Trump.

After reading summaries of 50 great pieces of literature on the topic of prosperity - how to attract, create, manage and share it - there are several themes that stand out. Many of the ones that appealed to me will be summarized here, but the author also includes a four-page summary at the back of this book of the principles of prosperity that he gleaned from his research.

Some of those highlights include:

• Prosperity is more than wealth. Wealth is the accumulation of monetary assets. Prosperity has more to do with thriving and enjoying an abundant life in all of its manifestations.
• Having a big "why." It is better to think big, than to think small. Thoughts allow us to imagine opportunities, services and products that do not exist now. Indeed, all new innovations arise from this creative thought process.
• The most successful innovations are those that serve the consumer, that serve others.
• Definiteness of purpose is essential to the success of the wealth creator. It banishes fear, enables the creator to overcome obstacles, and inspires the help of others.
• Do more than is expected of you, go the extra mile. Great fortunes have been made by extraordinary effort with no guarantee of gain.
• Gratitude is the key to an abundant life, as it attracts more of what you appreciate.
• "Ask and ye shall receive." Be very clear and specific about what you want. Visualize having received what you want, believing acting and speaking as though you have already achieved your goals, and according to the law of attraction, those desires will manifest to you.
• The fear of failure is the greatest obstacle to success.
• Don't be afraid to be different.
• The seed of entrepreneurship is to be in control of your own destiny. Wealthy people create money-producing systems.
• Have many sources of income. Do not depend on a single wage for your financial security.
• Live below your means. Poor people focus on spending money. The wealthy focus on creating, saving and investing it.
• Earning more will not solve your debt problems; handling money responsibly will.
• Pay yourself first. Have an emergency fund to cover 3-6 months of living expenses.
• Riches follow ownership. Own something, or at least part of something.
• Generating, using and spending money in a way that is consistent with your values has a healing effect on both you and the world.

Several of the classic writings on prosperity are now in the public domain and can be downloaded from the internet. They include:  J. Allen's "The Path to Prosperity (1905), P.T. Barnum's "The Art of Money Getting" (1880), G. Behrend's "Your Invisible Power" (1921), C. Fillmore's "Prosperity" (1936), A. Smith's " An Inquiry into the Nature and Causes of the Wealth of Nations" (1910), and M. Weber's "The Protestant Ethic and the Spirit of Capitalism" (1930).

Happy investing!