Review – The Richest Man In Babylon (#wealth, #prosperity, #savings)

Review – The Richest Man In Babylon (#wealth, #prosperity, #savings)

The Richest Man In Babylon

by George S. Clason, published 1926, 1988

The Richest Man in Babylon

Do you want to know the secret to wealth? Do you want to know how the richest man in Babylon came to a prosperous life?

He never forgot, A part of all you earn is yours to keep.

Seven Cures for a Lean Purse

  1. Start thy purse to fattening; save at least 10% of everything you earn
  2. Control thy expenditures; budget your expenses so you never spend more than 90% of what you earn on necessities and luxuries alike
  3. Make thy gold multiply; put your savings to work and let your wealth multiply
  4. Guard they treasures from loss; always ensure first that you don’t lose what you have and that you can get your money back out of any investment you make
  5. Make thy dwelling a profitable investment; own your own home
  6. Insure a future income; your financial planning should take into consideration the fact that you will have decreased earnings power as you age, and that one day you may pass on and leave dependents behind who need financial sustenance
  7. Increase thy ability to earn; cultivate your own powers, study and grow wiser, learn new skills and enhance your ability and number of ways you can earn income

Meet the Goddess of Good Luck

Men of action are favored by the goddess of good luck

The Five Laws of Gold

  1. Gold comes easily to anyone who would put aside 10% of his earnings to provide for an estate for his future and his family
  2. Gold will work for the wise person who finds safe investments in which it can multiply on its own
  3. Gold clings to the owner who looks after its safety in his dealings
  4. Gold slips away from those who invest it carelessly or in ways he is not familiar with
  5. Gold flees the man who has unrealistic earnings expectations, listens to tricksters and schemers or who follows his passions and desires rather than consideration and experience

The Gold Lender of Babylon

Better a little caution than a great regret

The Walls of Babylon

We cannot afford to be without protection

The Camel Trader of Babylon

Where determination is, the way can be found

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