Livelihood

The Richest Man in Babylon

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Classic guide to thrift, financial planning, and personal wealth

About 30 years ago I was sitting in my dentist’s chair and he showed me a small paperback book. Purchasing and reading this seriously changed my financial outlook and spending habits. The book was The Richest Man in Babylon by George S. Clason. It got me to looking at my credit card debt and inspired me to take advantage of simple financial opportunities available to me such as 401Ks. The book was first published in 1926 and is written as a parable and is very basic and simple, but still as relevant today as it was nearly 100 years ago.

Goodreads says: “The Success Secrets of the Ancients — An Assured Road to Happiness and Prosperity” This didn’t happen overnight and it didn’t turn me in some millionaire entrepreneur. What it did was get me to pay off the credit cards and cut them up. I started salting money away in a 401k and ultimately even in a savings account. I learned the secret of the golden shekels. I’m not rich, but now retired am comfortable. I look at my retired co-workers and see that I am as well off as any and better than most and I feel much of that is due to this little book

-- Norm Bolser 04/4/19

Excerpt

“Proper preparation is the key to our success. Our acts can be no wiser than our thoughts. Our thinking can be no wiser than our understanding.”

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“THE FIVE LAWS OF GOLD I. Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family. II. Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field. III. Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling. IV. Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep. V. Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment.”

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“When I set a task for myself, I complete it. Therefore, I am careful not to start difficult and impractical tasks, because I love leisure.”