The Richest Man in Babylon
by George S. Clason
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Book Reviews of The Richest Man in Babylon
Book Review: A must read for any teenager or young adult!!!!
Summary: 5 Stars
Every 18 year old should have these concepts about money ingrained in their mind! This title is an amazing set of parables describing how great leaders of Ancient Babylon went from rags to riches... by following simple rules of money.
"Start thy purse to fattening" is the first rule we learn. Through a fascinating and believable story of Arkad, we learn that "a part of all you earn is yours to keep". I immediately connected with Arkad, because he and I both thought all of my earnings are mine to keep. Algamish, the money lender, said to Arkad "Do you not pay the garment-maker? Do you not pay the sandal-maker? Do you not pay for the things you eat? Can you live in babylon without spending? You pay to everyone but yourself... If you did keep for yourself one-tenth of all you earn, how much would you have in 10 years?"
This is the first of many valuable lessons I learned from these priceless parables. I can say if I read this book 7 years ago when I was 18, My assets would be at least $50,000 more today. I am very grateful I have across this material today, for my financial future will be significantly changed for the better!
Book Review: Especially interesting and relevant
Summary: 5 Stars
What can I say that hasn't already been said? This book is great.
I've read many books on finance and investing, and just when I was getting jaded, this gem popped up. The title kept jumping out when I did on-line searches, and I finally decided to see what all the fuss was about.
This book was written in 1926, and I guess that is what took me so long to buy it. I figured that times changed, and it would be out of date, and only recommended as a "quaint" or "nostalgic" investing book.
I couldn't have been more wrong. This book is as true today as it ever was, and the "parable" style of the book makes it way more interesting than most books on finance. It is a great introduction to saving, and makes a great read (regardless of your level of financial knowledge).
If you don't know where to turn financially, and don't understand how to "get ahead", do yourself a favor and read this book. If you take it to heart, it really will help!
(One last thing, one other book written in the same era that is just as relevant and entertaining is "Where are the Customers' Yachts?")
Book Review: Enduring parables about how to become wealthy
Summary: 5 Stars
During the late 1920s, writer and entrepreneur George S. Clason created a series of simple parables about the supposed financial "secrets of the ancients." He compiled these tales, set in Babylon some 8,000 years ago, into an entertaining yet instructive book on becoming wealthy. In the 1930s, during the worst of the Great Depression, and for decades after, readers embraced Clason's engrossing, elegant little page-turner. They learned of wise Arkad, the richest man in Babylon; of Dabasir, the slave who became a wealthy camel trader; and of Sharru Nada, the rich man who learned about working hard when he was just a youth. Each universal parable teaches invaluable lessons about wealth, how to attain it, nurture it, protect it and sustain it. These stories also convey worthwhile lessons about life. getAbstract understands why Clason's magical little book has become such an enduring classic. If you read it, you will find that you can put its simple yet sensible lessons to work. Clason calls these lessons the "wisdom of the ages" and the "fixed stars that shine." His common sense advice about wealth can make you rich in more than money.Book Review: All the financial planning you'll ever need
Summary: 5 Stars
Someone tried to GIVE me this book when I was 13 years old. Sadly, I didn't have the sense to see how valuable this book was. It would be another 12 years before I finally sat down to read it. It drives me nuts to this day that I wasted those 12 years.This book introduced me to the concept of "pay yourself first." Thanks to George Clason, I now realize that getting rich isn't a matter of how much you make--it's all about how much you keep.
Babylon's basic premise is to save no less than 10% of every dollar you make; and not only save it, but put it to work. Do that consistently and continually, and you can't help but get wealthy. Why work like a dog only to hand over your paycheck to the landlord, the grocery store, the credit cards, etc? Much better to keep the 10% and have something to show for your effort. Once you accumulate enough, the money does all the work.
Not sure this is for you? Go ahead then--keep living paycheck to paycheck. We'll see who comes out ahead. As one of Clason's characters puts it: "hast thou the soul of a free man? or that of a slave?"
Book Review: Simple, but powerful financial lessons in a fun format
Summary: 5 Stars
The Richest Man in Babylon teaches sound financial habits that outline how you can start becoming wealthy solely on money you already earn.
The book is broken into chapters, each told in a parable format that takes place in ancient Babylon to explain a certain area of personal finances (investing, savings, insurance against loss, etc). What's most clear is that these "ancient" financial secrets are actually applicable to people today, regardless of the advances in communications and technology. The idea is that sound personal finances are goverened by rules that are everlasting.
On a side note, there is no real suggestion of the types of investments that one should make. If you're looking for a book on how to invest in stocks or mutual funds - this isn't it. Rather, it is an overall plan for success that you can custom-tailor to your situation.
All in all, this book is fantastic, and at under $7, is something that even the most cash-strapped pauper can afford, and start on the way to a better financial future.