--- title: Two Founding Fathers Died Broke and One Retired Early | TIME description: Two Founding Fathers Died Broke and One Retired Early canonical: https://time.com/video/EjYEWQJl/ og:title: Two Founding Fathers Died Broke and One Retired Early og:description: Two Founding Fathers Died Broke and One Retired Early og:url: https://time.com/video/EjYEWQJl/ og:image: https://cdn.jwplayer.com/v2/media/EjYEWQJl/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: Two Founding Fathers Died Broke and One Retired Early twitter:description: Two Founding Fathers Died Broke and One Retired Early twitter:image: https://cdn.jwplayer.com/v2/media/EjYEWQJl/poster.jpg?width=720 --- # Two Founding Fathers Died Broke and One Retired Early > Sponsored content. Supplied in partnership with TIME. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: Two Founding Fathers Died Broke and One Retired Early [Watch (HLS stream): Two Founding Fathers Died Broke and One Retired Early](https://cdn.jwplayer.com/manifests/EjYEWQJl.m3u8) (2:29)  _Published 2015-07-01. Two Founding Fathers Died Broke and One Retired Early_ --- Jul 27, 2023 6:30 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Millennials Withdraw From Retirement Savings Early](/video/xAWKHLpl/) ### Millennials Withdraw From Retirement Savings Early [How a Young Couple Is Working Toward Early Retirement](/video/OblHW4HL/) ### How a Young Couple Is Working Toward Early Retirement [Missing Boy’s Father Told Son Found in Basement on Live TV](/video/nxMSr5VU/) ### Missing Boy’s Father Told Son Found in Basement on Live TV --- ## Transcript [ MUSIC ] Jefferson was somebody who had a lot of money and he enjoyed spending it. He owned a lot of land and he owned a lot of slaves. When Jefferson traveled occasionally, he didn't have all the money he needed, and his servants, or slaves of course, would accompany him, and Jefferson could ask them to loan the money. As a former president, he was kind of An object of public curiosity. And so the stream of visitors through the house was constant. And they had to be entertained, and they all wanted to sit down to a meal. And by 1826, he was completely bankrupt. At that point, he was drinking North Carolina wine instead of the French stuff. Alexander Hamilton also died in financial trouble. If Hamilton hadn't died in 1804, killed by Aaron Burr, and had gone on to have the rest of a very successful legal career, he would not have left the substantial debts. He had an enormous family, all these children. And so there were a lot of people to take care of and he hadn't saved a penny while he was Secretary of the Treasury. He hadn't saved a penny while he was Secretary of the Treasury, and his law practice would definitely have paid big dividends over the years to come but he died too soon. [ MUSIC ] Franklin, of course, is famous for saying things like, a penny saved is a penny earned. All those little piffy things about being a careful, calculating bourgeois. And Franklin was a careful, calculating bourgeois. Franklin started out in life, of course. As a printer, and he was very successful doing that. So successful that he retired from business in his 40s. And thereafter was a kind of investor, coupon clipper. And he invested in real estate in Philadelphia and so on. And he accumulated a lot of money. 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