Letters from a Father to His Son

In our business affairs and in the outlay and investment of our
money and property, there can be no great or unusual measure
of gain without a proportionate risk of loss, and the prudent man
is, therefore, content with such moderate profits and advantages as he
can enjoy with safety. Hence it is that all games of chance where
money is risked, often to a considerable amount, which is
called gambling; all betting, lotteries, and raffles; all extensive
and dangerous speculations and such like follies; and uncertain and
hazardous adventures—are always avoided by prudent and
discreet people.
There are three leading directions or guides to be observed by a
man who desires to do well in the world.
First, by industry, perseverance, and frugality—to enable himself
to spend less money than he earns.
Next, to be able firmly and resolutely to say NO to those who,
discovering his habits, desire to partake of the fruits of his
industry without any labor of their own.
And, third, safely and securely to invest in solid and available
security, the surplus money which he has so earned and saved.
In other words,
1. live within your means;
2. do not listen to borrowers;
3. be very careful what you do with your savings. Shakespeare
says:
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