Tuesday, April 21, 2015

Financial Wisdom of the Scots

From proverbs collected by Ben Schott:

"Bashfulness is an enemy to poverty" sounds odd to modern ears. Perhaps bashfulness helped to build wealth because a shy Scot wasn't inclined to show off by squandering money on a gilded coach (or, in today's terms, on a gold-plated Bentley).

And, yes, wealth can be ruinous. Fortunately, trust companies exist to help today's wealthy families limit the harm. 

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