—— Positive version ——
For you who’s starting out making a life for yourself or come from dept and struggle to make ends meet, this is a good start point for learning about the workings of moneyz. Bull or Bear market aside, there are universal rules governing the accumulation of wealth. Through engaging parables and stories, set in the rich and ancient city of Babylon, this book teach you the ropes and shows that the same rules apply, both then and now, when it comes to building wealth.
—— Negative version——
It’s overly simplified. The rules presented are so basic and obvious that they had to be dressed up as parables in a historical context to justify another book about them – The stories are also used to extend what could have been a one-pager into something that could be called a book. A simple test to find out if you should read this books: Do you know what compound interest is and are your financials optimized to make the most of that knowledge? If the answer is no, then get the book. If yes, the get on with you life!
Here are some highlights:
📝 “Lo money is plentiful for those who understand the simple rules of its accusation”
1. Pay yourself first. (or: Save 10% of your earnings)
2. Control thy expenditures. (or: Live on less than you earn)
3. Make thy gold multiply. (or: Invest)
4. Guard thy treasures from loss. (or: Mitigate risk)
5. Make out of thy dwelling a profitable investment. (or: buy a place to live)
6. Insure a future income (or: improve or learn new skills)
If you don’t already do or work towards all of these points you should pick up this book.
📝 “If you have not acquired more than a bare existence in the years since we where youths it is because you either have failed to learn the rules that governor the building of wealth or else you have failed to observe them.”
📝 “A small return and a safe one is far more desirable than risk.”
📝 “What each of us calls our necessary expenses always grows to equal our income unless we protest to the contrary.”
📝 “Confuse not thy necessary expenses with your desires.”
📝 “Where the determination is the way can be found.”
‘The Richest Man In Babylon‘ by George S. Clason
Check out my complete reading lists for more great books!