In 1790 Benjamin Franklin left $4,000 jointly to the city of Philadelphia and the state of Pennsylvania. He left instructions that the money should be conservatively invested, but not withdrawn, until 200 years after his death.
In 1990 this fund had grown to $1,500,000. The Pennsylvania State Legislature distributed the assets of the fund to several charitable foundations, including a scholarship fund for the students of Penn College.
Because of his remarkable foresight and planning, Benjamin Franklin continues to benefit thousands of lives even though he has been dead for more than 200 years. Franklin understood the interrelationship between time, money and compound interest.
His lump sum investment of a mere $4000 earned a modest 3.00% return, yet his money increased to $1,500,000 – 375 times the original value.
The road to security and increased wealth is not a “get rich quick” concept, rather prudent wise decisions.
What can you do to increase your savings?
Invest in Balance