Tuesday, 25 August 2009

The Richest Man in Babylon - George S. Clason

I highly recommend this book to anyone and everyone who wishes to build up a fortune over their lifetime. It teaches you timeless values, rules and laws that which, when mastered, will lead you down the path of health, wealth and happiness. Here are a the headline lessons taught, however you should still read the book yourself to fully grasp these messages:

1) You will find the road to wealth when you decide that a part of all you earn is yours to keep.

2) The seven cures for a lean purse:
* Start thy purse to fattening by keeping no less then one tenth of your earnings
* Control thy expenditures - budget to live well of the nine tenths
* Make thy gold multiply - to put each coin to labouring that it may reproduce its kind even as the flocks of the field and help bring thee income, a stream of wealth that shall flow constantly into thy purse.
* Guard thy treasures from loss by investing only where thy principle is safe, where it may be reclaimed if desirable, and where thy will not fail to collect a fair rental. Consult with wise men. Secure the advice of those experienced in the profitable handling of gold. Let thy wisdom protect thy treasure from unsafe investments.
* Make of thy dwelling a profitable investment - Own thy own home.
* Insure a future income - Provide in advance for the needs of thy growing age and the protection of thy family.
* Increase thy ability to earn - cultivate thy own powers, to study and become wiser, to become more skilful, to so act as to respect thyself.

3) Men of action are favoured by the goddess of good luck.

4) The Five Laws of Gold:
* Gold cometh gladly and in increasing quantities to any man who will put by not less then one-tenth of his earnings to create an estate for his future and that of his family.
* Gold laboreth diligently and contently for the wise owner who finds for it profitable investment, multiplying even as the flocks of the field.
* Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling.
* Gold skippeth away from the man who invests it in businesses or purposes with which he is not familiar or are not approved by those skilled in its keep.
* Gold flees the man who would force it to impossible earnings or who follows the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desirers in investment.

5) Better a little caution then a great regret.

6) Where the determination is, the way can be found.

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