Financial advice from America’s founding fathers

Hamilton built the foundations of the US financial system as the nation's first Treasury secretary

Appointed the nation's first Treasury secretary in 1789 by George Washington, Alexander Hamilton designed a powerful federal finance system—repaying war debts, creating new taxes, founding a national bank, and promoting economic development.

Benjamin Franklin founded America's first lending library in 1731

Franklin convinced members of his intellectual club to pool resources and purchase books none could afford individually. The Library Company of Philadelphia was founded with 50 shareholders, each contributing 40 shillings, and served as the unofficial, de facto Library of Congress from the Revolutionary War until 1800.

Financial rules that many FIRE followers live by include guidelines around tax efficiency and more

Many FIRE proponents follow specific financial rules, like the 4% rule, in order to achieve FIRE. They also take steps to create an efficient tax strategy and take advantage of compound interest.

Ben Franklin’s edit helped define the Declaration’s philosophy

When Thomas Jefferson drafted the Declaration, he wrote that its truths were “sacred and undeniable.” Benjamin Franklin urged replacing that phrase with “self-evident,” grounding the document in reason rather than religious authority and sharpening its Enlightenment logic.

Abigail Adams was a shrewd and largely self-taught financial investor

While John was away during the Revolution and his diplomatic career, Adams managed the family's finances and investments skillfully. When John urged her to buy farmland in 1783, she refused—investing instead in government bonds and earning up to 25% annually, compared to his farmland's 1%.

Warren Buffett's advice for middle-class investors includes "pay yourself first"

Warren Buffett might not be part of the middle class himself (he's one of the richest people in the world), but he still knows a thing or two about everyday personal finance tips. This article chronicles his six best pieces of advice for the middle class.

The Founders placed the pursuit of happiness at the center of good governance

This podcast explores the central place happiness played in the American founding, highlighting the influence of Greek and Roman moral philosophy on the founders’ constitutional ideas.

Americans are projected to inherit $105T over the next 30 years

Today, someone's financial standing has more to do with their families than any other outside factor. Of the more than $100T of projected inheritance, that money is concentrated among a few wealthy estates and families.

Early Americans hated the idea of a central bank

After a series of economic panics induced by a lack of reserve cash at regional banks, the architects of today’s Federal Reserve opted to emphasize the goal of the bank as a reserve at the federal level—thus creating the lasting name.

Eleven of modern history's greatest investors

The greatest investors have all made a fortune off of their success and, in many cases, have helped millions of others achieve similar returns. Read about the lives and approaches of Carl Icahn, Warren Buffett, George Soros, and more.

Financial solutions for HENRYs

The term HENRY stands for "high earner, not rich yet." People who fall into the high earner, not rich yet category tend to have some significant blockers keeping them from accumulating wealth, such as lifestyle creep and student debt. This article outlines some financial planning advice specifically for those in the HENRY category—read it here.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

Why financial literacy education in the US sucks

If you don't remember learning anything about basic financial literacy in school, you're not alone—that's the common sentiment among those who have passed through the American school system. This video explains the history of financial education in the US and points out what can be done in the future to make the financial lessons children learn in school stick with them past recess. Watch it here.

Ted Benna is the father of the 401(k)

It took a benefits consultant to highlight the financial power of a subtle, obscure tax code change buried away in Section 401, subsection k of the Internal Revenue Code. Benna realized this section, designed primarily for high-earning corporate executives, could help workers save money on taxes when preparing for retirement.

Adam Smith’s 'The Wealth of Nations' introduced concepts like division of labor, productivity, and free markets

Published in 1776, "The Wealth of Nations" is an influential economic work that laid the foundation for modern economic theory. Smith argued for limited government intervention and touted the benefits of self-regulating markets.

The best investing advice for new college grads

While new college graduates typically don't have much money to invest, creating a plan for the money they earn from their first job can set them up for a promising financial future. This list of investing advice for new grads includes recommendations like enrolling in their company's retirement plan as soon as possible, prioritizing building an emergency fund, and more. Read the full list here.

Seven early retirement lessons

After one year of retirement under his belt, financial publication Kiplinger's former editor has learned some lessons. Specifically, in this article, he shares his best early retirement advice, from when it makes sense to convert a traditional IRA to a Roth in early retirement, to how to prepare for retirement from a psychological perspective. Read more here.

How income taxes evolved from a funding tool for war into a crucial revenue source for the federal government

Americans have long resisted income taxes. So, how did they become permanent? This overview explains how wartime funding needs, constitutional changes, and economic shifts gave rise to the modern tax system, from the Civil War to the payroll withholding rules we follow today.

The rivalry between Alexander Hamilton and Thomas Jefferson centered on federalism—the question of how much power the federal government should hold relative to the states.

How the stock market performed under every US president

It's worth noting that the stock market as we know it today didn't exist under the leadership of earlier presidents, such as George Washington and Thomas Jefferson.

JP Morgan Jr. once angered the nation with his zero-dollar tax bill

In the aftermath of the Great Depression, Congress learned that Morgan and his banking partners had avoided paying any federal income tax in 1931 and 1932. By claiming their losses in the stock market, they seemingly erased what they owed.

How couples today manage their finances

In relationships, shared bank accounts used to be the default. Not anymore. Many couples maintain separate finances for practical reasons or to retain greater independence, though many couples experience trust issues as a result. This article checks in on the status of relationship finances and highlights, among other insights, how attitudes toward money are often determined by family history.

The highest inflation in US history was estimated at 30% in 1778

This was just after the Revolutionary War. Both World Wars also brought double-digit inflation. It's worth noting that exact inflation rates in early America are difficult to calculate precisely.

Gambling funded America's early expansion

In the colonial era, lotteries were viewed as a voluntary tax to help fund infrastructure and capital projects. The idea came from Europe, which had used lotteries dating back to the 16th century. The image below is from a Massachusetts lottery in 1758.

'I have learned from experience that the greater part of our happiness or misery depends upon our dispositions, and not upon our circumstances.'

- Martha Washington (1731-1802)

Trace how the Bill of Rights, inspired by centuries of political theory, took shape between 1774 and 1789.

Minting a coin that can pay off the federal debt has been proposed as a quick fix to rampant borrowing

It’s uncertain how financial markets would react to such a large cash injection. Some economists warn it could trigger massive inflation. Others say the nation needs a clean slate.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

An economist answers questions about love

Economists aren't exactly known for their dating advice. But as it turns out, economics experts can offer fresh perspectives to everyday romantic quandaries. On this podcast episode, economist Tim Harford answers listeners’ relationship quandaries, from paying for a first date to alternatives to saying, "I love you." Listen to the episode here.

Meet the 56 signers of the Declaration of Independence—most of whom didn't put pen to paper until August 2, 1776—and see their original signatures.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

The power and influence of the American presidency have expanded significantly over time—far beyond what the founders envisioned.

After the Boston Tea Party, colonists switched to coffee, which became the main morning drink for revolutionaries.

Calculate how much of your tax dollars go to each federal program based on your income, filing status, and number of children

Despite being favored by 87% of Americans, Congress does not have term limits.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

20,000 letters to the advice columnist 'Dear Abby' provide insight into prevailing sex, religion, and LGBTQ fears, anxieties, and concerns from the 1950s onward.

Many legends about George Washington, including his supposed wooden teeth and the story of cutting down the cherry tree, lack evidence.

Mark Twain spent decades feuding with the US Postal Service, convinced its costs and regulations were bureaucratic overreach.

SpongeBob exemplifies Aristotle's philosophy for living well because he understands that happiness doesn't come from external factors like money, recognition, or power.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

Learn how to read a prospectus, the juicy document that any company must file with the SEC before going public.

English mathematician Ada Lovelace wrote the first computer algorithm a century before computers existed and hypothesized that computing devices would one day be able to compose music—foreseeing the generative AI systems of today.

Learn more about the history of fireworks, which dates back to an accidental invention during an alchemist's quest for information about immortality.

Play the role of a student in a game where you try to navigate college and remain debt-free, selecting different income levels, high school experience, race, ethnicity, and more.

In 1939, baseball star Lou Gehrig delivered his inspirational 'Luckiest Man' speech after retiring due to the health condition that now bears his name.

Frank Lloyd Wright's houses are historically hard to sell because they're old, subject to local landmark commissions, and often unfashionable

Studies suggest when you sleep is as important as how much you get, and syncing with your circadian rhythms may lead to less fatigue and improved long-term health outcomes

Stanford built a Google Maps for the Roman Empire, revealing how much it cost to travel in the ancient world