Sunday, February 25, 2018

The Richest Man in Babylon....

Great Read. Here’s a brief summary of a book written more than 9 decades ago by an author whose principles still hold true….

Seven Cures For A Lean Purse
1. Pay yourself first (10%)
2. Control expenditures
3. Invest
4. Protect assets
5. Own your own home
6. Plan for retirement and to protect family
7. Increase earning potential

Five Laws Of Gold
1. 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.
2. Gold laboreth diligently and 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 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 experience and romantic desires in investment.

I do not wish to take risk of losing my gold for I have labored much and denied myself much to secure it. Therefore, I will no longer lend any of it where I am not confident that it is safe and returned to me.

Seek to associate thyself with men and enterprises whose success is established that thy treasure may earn liberally under their skilled use and be guarded safely by their wisdom and experience.

Ill fortune pursues every man who thinks more of borrowing than of repaying.

If a man has in himself the soul of a slave he will not become a free man no matter what his birth. If a man has within him the soul of a free man, will he not become respected and honored in his own city in spite of his misfortune?

No comments: