Key Points from Book: The Richest Man in Babylon

Money is plentiful for those who understand the simple rules of it’s acquisition:
Start thy purse to fattening
Control thy expenditures
Make thy gold multiplguard thy treasures from loss
Make of thy dwelling a profitable investment
Insure a future income
Increase thy ability to esrn

Money is the medium bpy which earthly success is measured

Money makes possible the enjoyment of the best the earth affords

Don’t wish for money, but wish for an income that will keep flowing whether I sit upon the wall or travel to far lands

Wealth is power. With wealth many things are possible

Keep 1/10 of your salary and save it as your own pay. A part of all you earn is yours to keep

Trust your money to someone who know what he’s doing and is an expert in the field

Will power is the key in being rich

There’s compounding effect, where the interest of your saving’s will have interest, and so on

Budget your expenses to pay for your necessities, enjoyment, and gratify your worthwhile desires without spending more than 9-10 of your earnings

Preceding accomplishment must be desire. Your desires must be strong and definite

You must pay your debt with all the promptness within your power, not purchasing that for which you are unable to pay

You must take care of your family that they may think and speak well of you

He must make a will of record that, in case the Gods call him, proper and honorable division of his property be accomplished

He must have compassion upon those who are injured and smitten by misfortune and aid them within reasonable limits. He must do do deeds of thoughtfulness to those dear to him

Cultivate your own powers, to study and become wiser, to become more skillful, to so act as to respect yourself

Good luck waits to come to man who accept opportunity

Procrastinator is the enemy of good luck

Making a payment immediately when we are convinced our bargains is wise, that is wisdom

Men of action are favored by the goddess of good luck

Gold cometh gladly and in increasing quantity to any man who will lut by not less than one tenth of his earnings to create an estate for his future and that of his family

Gold laboreth diligently amd comtentedly for the wise owner who finds for it profitable employement, multiplying even as the flocks of the field

Gold clingeth to the protectio. Of the cautious owner who invest it under the advice of men wise in its handling

Gold slippeth away from the man who invest it in businesses or purposeswith which are not approved by those skilled in its keep

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

Don’t trust your gold to a less competent man, or it will be lost. Help people not by losing gold but by giving assistance until he is ready

Don’t trust your gold to people who can’t or won’t pay it back

Better a little caution than a great regret

We cannot afford to be without adequate protection

Do you have a soul of slave or a soul of free man? Then act accordingly

Where the determination is, the way can be found

If you are in debt, list all of your debt and pay it as much as you can every month

Do the best for your master and hope he will notice our good work

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About Kevin

Kevin is a research analyst at a macro research firm and a private fund manager since 2012. He holds a Master of Management in Finance degree from McGill University and has passed all levels of CFA and FRM exam. Kevin is an avid traveler and photographer, with a record of 33 countries visited in 2019. He is a freelance contributor at Getty Image and is running two website in his spare time, journeyman.live and putamencapital.com
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