I know a lawyer in New York, now a millionaire (who had worked most of hi1s way through college, and came to the metropolis an utter stranger, taking a little desk room in a broker’s office near Wall street) who, at the outset, made a cast-iron rule that he would always keep himself free from debt and entangling alliances. By this inflexible rule, it is true, he often lost opportunities which would have brought him excellent returns, but he has never tied himself up in any transaction. The result is that he has not worried himself to death, but has reserved his strength. Nearly every enterprise he has gone into has been very successful, because he has not touched anything unless he could see through to the end and knew how he would come out (even taking into consideration possible shrinkage, accident, and loss). In this way, although he has never made any very brilliant strides or “lucky hits,” and has not gone up by leaps and bounds, he has never had to undo what he has done, and has always kept in a sure position. He has gained the confidence not only of men in his profession, but also of capitalists and men of wealth, who have entrusted large sums to him because he has always kept his head level, and himself free from entanglements. People know that their business and their capital will be safe in his hands. Through steady growth and persistent pushing of practical certainties, he has not only become a millionaire, but a broad, progressive, comprehensive man of affairs.
Develop your judgment early and exercise your caution until it becomes reliable. Your judgment is your best friend; your common sense is your great life partner, given you for guidance and to protect your interests. Depend upon these three great friends—sound judgment, caution, and common sense—and you will not be flung about at the mercy of adverse winds.
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