The Richest Man in Babylon was written by George S. Clason and first published in 1926. It is a classic when it comes to investment principles and few books can withstand the test of time on such a complicated subject. If you have not read this book, I suggest you run right out and get it right now... don't worry, I'll wait...
Did you buy it? Well, read it! Clason uses ancient Babylon to make the lessons of how to build wealth simple. His primary principle is to "always remember that a portion of all you earn is yours to keep." In its simplest terms, save the first 10% you earn for your future. Hey, I said the principle was simple, not easy!!
Here are a few other important lessons he hits on:
- Have a financial plan
- Study and learn... how determined are you to succeed?
- Seek professional advice from competent sources on investing. Learn from mistakes.
- Carefully consider where to invest profits, but, do reinvest them.
- Learn to make your treasure work for you.
Admittedly, at times this book can drag. However, what finance book doesn't?!? I would consider this a "MUST READ" for everyone. Buy it for a recent graduate or for anyone who may want to retire one day. They will thank you for it later!
Sara K. Braden- Villas, Garden, & Single Family Homes from $130's
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Sara, Yes that is a woderful book. Another great book is "the millionaire next door" Similar principals taught in the book.
Tom