A review by constantine2020
The Richest Man In Babylon by George S. Clason

3.0

Rating: 3.0/5.0

Genre:
Nonfiction + Business

I picked up this one because I heard many good things about it. I might be a bit late because I feel the majority of the points and lessons discussed by this book are very familiar to me. I found it very interesting to see this book reads more like a fiction. I feel this is good for someone who wants to read and know about all the basics in finance and economics in a simple easy way. One of the main tips that the author insisted on is saving 10% of whatever you earn, and then make that saved amount earn further by investing it wisely in something you are aware of. Don't invest your money in something you have no knowledge about or give it to someone to invest it in something he has no enough knowledge about.

“Advice is one thing that is freely given away, but watch that you only take what is worth having.”

Another advice the author gives is controlling the expenditure in different ways. One way is to own your own home instead of living in a rented property and paying the rent. Then there is an important tip of building yourself and your abilities because the more educated and experienced you are the higher will be the chance that you will earn more in the future.

The book is old, written a long time ago. Most of the lessons and advices are still very much valid until this day. But all this is definitely not enough to cover the complex economics of today. You will not find it covering everything that relates to our times. Do I recommend it? Well, yes but not alone. You need to read more books about finance and investments because basics alone are not enough for you to gain the knowledge and expertise that you aim for. I give The Richest Man In Babylon 3.0 stars out of 5.0.

“THE FIVE LAWS OF GOLD I. 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. II. Gold labor the diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field. III. Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling. IV. 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. V. 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.”