“Excellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but we rather have those because we have acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit.” - Aristotle
The Biltmore House in Ashville, NC is one of America's castles. It's a magnificent structure that honors human achievement. The wealth that made it possible came from Commodore Vanderbilt of steamship and railroad fame. With a net-worth of nearly $150 billion in today's dollars, Vanderbilt created one of the largest fortunes in American history. At a 1973 Vanderbilt family reunion however, not a single descendant was a millionaire. How did that happen? Clearly profligate spending, gambling, and poor business decisions had an impact. In a word though, the answer that broadly explains the travesty is "affluenza".
Vanderbilt's legacy was one of money - not of values - and a fortune was lost as a result.
You can create a very different legacy. To elaborate, I want to share a story about another family's path to wealth. It's a true story and it involves my best friend from childhood. You'll enjoy this, so let's get started....
Entrepreneur, financial guy, husband and father of two great kids.