The must-read summary of George S. Clason's book "The Richest Man in Babylon: Success Secrets of the Ancients".
This complete summary of the ideas from George S. Clason's book "The Richest Man in Babylon" explains how to be financially successful in order to achieve future dreams and ambitions. This useful summary provides you with timeless financial principles, as well as the basics of effective money management, thus giving you the tools to make your business thrive.
Added-value of this summary:
• Save time
• Understand key concepts
• Improve your chances of financial success
To learn more, read "The Richest Man in Babylon" and discover how to manage your money effectively.
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Book Presentation: The Richest Man In Babylon by George S. Clason
Summary of The Richest Man In Babylon (George S. Clason)
Ahead of any person lies their future with ambitions and dreams. To fulfil those ambitions and realize those dreams, people need to learn how to be successful with money.
The basic principles of effective money management are:Save at least 10-percent of all that you earn for an investment fund for the future.Learn to live on 90-percent or less of your income.Invest your accumulated capital into projects that will provide a safe, steady income, taking full advantage of compounding of the interest received.Invest only in areas in which you have expertise or with people who are experienced.Buy the house in which you live so you don’t waste any money on rent.Have a realistic insurance programAlways keep working at various ways and means of increasing your income.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
1. The man who desired gold
While almost everyone concedes that money isn’t everything and that there are some things money cannot buy, it is also a fact that money is the medium by which earthly success is measured. From this perspective, wealth is a scorecard by which people measure themselves.
Money represents success only through its ability to provide freedom to do things. It is not an end in and of itself – only a means to an end. The possession of sufficient amounts of capital makes possible the enjoyment of the very best services and goods the world has to offer.
Many people have convinced themselves money has a way of avoiding them like the plague. This belief is usually based on their experience in which they are always cash short and scrambling to pay bills. In actuality, however, money is plentiful for anyone who understands the laws which govern its acquisition. To secure significant amounts of money, it is probably better to spend less time lamenting the bad luck of the past and more time focusing on the laws of acquisition of capital.
Interestingly, throughout the ages, there have always been some people who have had more money than others. Was this just a stroke of luck on their part, or are there laws that make this possible?
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