Every year on the 4^th of July, I do a "freedom run”. It is not organized. I do not measure the time or distance. I try to wear something red, white, and blue (some years subtle, some years not so much) and I run to celebrate life, liberty, and the pursuit of happiness. Then I eat a hot dog!

Did you know that Americans consume about 150 million hot dogs on this day? This ridiculousness aside…

Did you know that three U.S. presidents died on July 4th? Thomas Jefferson and John Adams both passed away on the 50th anniversary of the Declaration of Independence in 1826, and James Monroe followed in 1831. No other day of the year has the death of three or more US Presidents. Maybe there is nothing here, but this seeming coincidence reminds me of the deep connections between our nation's leaders and the ideals of life, liberty, and the pursuit of happiness and why I choose this holiday each year to reflect on these ideals as well.

Life: 4^th of July is also the day my mother-in-law, Dorothy Ryan passed, way too young. While I had experienced death before, it was never as impactful as this one. It was the day that opened my eyes to life. I miss you Dorothy and always will, but I want you to know your death awakened me and I took that lesson and spent as much time as I could with your daughter and granddaughters. I would never take my time with them for granted. Thank you.

Liberty: Some years later, I had the opportunity to travel the world for some business school classes, from Argentina to London to South Africa. It was through these travels and a reflection on their history, past and present, that made me revisit, the American ideals of Liberty. Liberty was no longer a subject I was forced to learn in grade school but something I could now reflect on, and like life, I no longer would take it for granted.

Pursuit of Happiness: It would take until the death of my father to set me on the most challenging growth path yet, and that was a journey to my core. A core is a place that already exists but that is surrounded by other stuff. To get to that core, you have to get through that stuff. And when you start chipping away at that stuff, you realize that there is a lot of stuff. This journey is the pursuit of happiness. It is the worthiest of pursuits and is truly an epic journey.

Adam Smith, often called the father of modern economics, also has a special place in our USA story and my personal story. In 1776, the same year the Declaration of Independence was signed, Smith published The Wealth of Nations. This book argues for economic freedom and limited government intervention but also outlines the idea that individuals acting in their self-interest can inadvertently contribute to the overall good of society. Smith's vision of a free market helped shape the economic foundation of the United States, promoting individual enterprise and economic independence.

However, less well known, but also impactful was his book The Theory of Moral Sentiments. My eyes were opened to Smith’s morals through a book I read years ago and now reread at least once per year, Our Great Purpose by Ryan Patrick Hanley. It delves into Adam Smith's wisdom on living a good life, offering insights that are as relevant today as they were in the 18th century.

Fast forward to the past two weeks rereading of Ayn Rand's novel Atlas Shrugged (I first read it about 12-15 years ago before the deaths of my mother-in-law, my worldwide travel, and the death of my father), and there's a powerful line: "Francisco, what's the most depraved type of human being? The man without a purpose." The word depraved or variations appeared a number of times in this book and really hit home to me on this read through. Reflecting on the meaning of the whole book and why Rand highlights the importance of having a clear purpose in life, I gained further clarity: without purpose, we lack direction and drive, leading to an unfulfilling existence. Purpose gives our lives meaning and helps us contribute positively to ourselves and society. Purpose = Happiness.

So, as we enjoy these Independence Day celebrations, it's also a great time to think about our own purpose in life. Defining your life's purpose involves reflecting on what brings you joy, fulfillment, and a sense of contribution. Here are some steps to help you define it:

1. Identify Core Values: Reflect on what truly matters to you, such as growth, relationships, simplicity, or adventure.
2. Passions and Talents: Consider what activities make you feel alive and where your strengths lie.
3. Impact on Others: Think about how you can make a positive difference in others' lives.
4. Set Goals: Create long-term goals that align with your values and passions.
5. Embrace Growth: View life as a continuous journey of learning and exploration.

For me, my life's purpose centers on the simplicity of personal growth, meaningful relationships, and wanderlust, all while leading Members’ Wealth with integrity so that our client's families' financial foundations are strong so they can also pursue their own lives of happiness.

To end on a fun note…we end each 4^th with our family watching Independence Day, the 1996 Will Smith Blockbuster. Will Smith has some one liners, but it is President Bill Pullman's speech that gets me:

In less than an hour, aircraft from here will join others from around the world, and you will be launching the largest aerial battle in the history of mankind. Mankind, that word should have new meaning for all of us today. We can’t be consumed by our petty differences anymore. We will be united in our common interest. Perhaps it’s fate that today is the 4th of July, and you will once again be fighting for our freedom. Not from tyranny, oppression or persecution, but from annihilation. We’re fighting for our right to live, to exist. And should we win the day, the 4th of July will no longer be known as an American holiday, but as the day when the world declared in one voice, we will not go quietly into the night. We will not vanish without a fight. We’re going to live on. We’re going to survive. Today, we celebrate our Independence Day.

Happy Fourth of July!

About the Author – Dane Czaplicki, CFA®

Dane Czaplicki is CEO of Members’ Wealth, a boutique wealth management firm that offers a comprehensive approach to serving individuals, families, business owners, and institutions. The firm’s goal is to preserve and grow its clients’ wealth to endure over time, while thoughtfully evolving its strategy to suit an ever-changing world. With over 20 years of wealth management experience, Dane and the Members' Wealth team thrive on bringing clarity and confidence to clients' unique situations. He believes everyone needs sound financial advice from someone whose interests are aligned with theirs, and is determined to put service before all else.

Dane received his MBA from The Wharton School of Business at the University of Pennsylvania and his bachelor’s degree from Bloomsburg University. Outside work, he enjoys spending time with his wife and kids, hiking and camping, reading, running, and playing with his dog. To learn more about Dane, connect with him on LinkedIn.

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