richest-man-in-babylon

The Richest Man in Babylon (Review)

The Success Secrets of The Ancients – The Most Inspiring Book on Wealth ever written by George S. Clason.

Book #3 to financial independence. If you want to find the keys to success, follow the tracks left by the successful.

There are some individuals that make you believe that you need their ebook/pdf/etc to unlock the secrets to success. However, most of the time, they are repeating the same things that have been said before. Ready to move forward?

Here is the road to riches:

  1. The Man Who Desired Gold
  2. The Richest Man in Babylon
  3. Seven Curses for a Lean Purse
  4. Meet the Goddess of Good Luck
  5. The Five Laws of Gold
  6. The Gold Lender of Babylon
  7. The Walls of Babylon
  8. The Camel Trader of Babylon
  9. The Clay Tablets from Babylon
  10. The Luckiest Man in Babylon

gold-piggy

Where is the Gold?

To start off, this is not a “get rich quick” book. On the contrary, it is meant to be taken as a financial guide to the road to riches by mastering ones desires and gaining the ability to make your gold earn more gold. In the 1st chapter, a citizen of Babylon states, “I wish to be a man of means.” This inner desire to earn more than “enough” is plenty to get the student to go and search for The Richest Man in Babylon.

The Richest Man in Babylon

Arkad, the richest man in Babylon, is asked how he is able to enjoy the pleasures of the worlds, while others cannot. Later in the chapter, Arkad states, “I decided that if I was to achieve what I desired, time & study would be required.

With that being said, remember, everyone has the SAME AMOUNT OF TIME, 24 hours a day. Whether you use a little or use a lot, it is up to you. Refrain from saying, “I don’t have enough time.” You have all the time there is.

Broke Tip: Decide to find out how one might accumulate wealth.

Seven Curses for a Lean Purse

  1. Start thy purse to fattening
  2. Control thy expenditures
  3. Make thy gold multiply
  4. Guard thy treasures from loss
  5. Make of thy dwelling a profitable investment
  6. Insure a future income
  7. Increase thy ability to earn

goddess-of-good-luck

Meet the Goddess of Good Luck

“Good luck can be enticed by accepting opportunity.”

In this chapter, a student brings up the “luck” factor & suggests that one would have to be lucky in order to obtain wealth. Arkad goes on to ask if being lucky was a matter of finding/receiving valuable treasures/jewels without effort, the ones deemed “lucky” will end up losing their “luck” earnings quickly.

In order for the goddess of good luck to bless you with opportunity, one must be prepared & willing to accept such “luck”. One should not leave luck to a game of chance. Businesses that offer a chance to “win big” are set to make a profit for the house, not for the individual.

Another point Arkad stresses is that procrastination kills any chance to accept a “lucky” opportunity.

“Men of action are favored by The Goddess of Good Luck”

The Five Laws of Gold

  1. Gold cometh gladly & 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 & that of his family.
  2. Gold laboreth diligently & contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field
  3. Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling.
  4. 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.
  5. Gold fleas the man who would force it to impossible earnings or who followeth the alluring advice of tricksters & schemers or who trusts it to his own inexperience & romantic desires in investment.

The Gold Lender of Babylon

Rodan, the spear maker, has earned 50 pieces of gold. For the past 3 years, he has only been able to retain 1 piece of gold per year. Since his new spear design was approved by the king, which earned him his 50 pieces of gold, his fortune has been met with “potential opportunities”, one being from his brother-in-law.

Instead of outright lending his pieces of gold, Rodan seeks advice from the gold lender, Mathon. Mathon shows Rodan his token box which contains tokens from previous and current loans.

Some of the tokens will only be kept shortly, since the borrowers do borrow in good faith & repay swiftly. Other tokens are his to keep since the borrower was not a worthy candidate to lend to.

In short, minimize the risk of being unable to retrieve your principal & keep something as a security deposit in case the loan is not paid back.

“Better a little caution, than a great regret”

The walls of Babylon

“We cannot afford to be without adequate protection”

Just like the walls of Babylon were built to protect Babylon’s most finest treasures & citizens, so too should you take the opportunity to create a wall to protect your estate/wealth. This can be done by using insurance, savings accounts & dependable investments.

Remember, life is a series of problems that are interrupted by a crisis. If your wall is built strong enough, you and your family will be able to endure ANY CRISIS.

You CANNOT afford to not build a wall around your wealth.

missing-puzzle

Where is the rest?

Rather than providing most of the gems in this book through this review, The Broke Investor urges anyone who is SERIOUS about reaching financial independence to get a copy of The Richest Man in Babylon. Unless you put the time and  study, reading this review will do minimal.


In other news, The Broke Investor noticed that there hasn’t been a S.M.A.R.T Goal written out in awhile.

Here is S.M.A.R.T. Goal #5:

Specific: Read 25 books on personal development and financial independence

Measurable: Every book that is read, The Broke Investor will write a review.

Achievable: The Broke Investor has already read 3 books.

Results-focused: In order to gain knowledge in obtaining financial independence.

Time-bound: By Sept. 1 2018, The Broke Investor will have read 25 books.

 

As Always,

Keep growing, keep investing. Even if you are, The Broke Investor.

One thought on “The Richest Man in Babylon (Review)

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