The Richest Man in Babylon- a book review

Richest Man in Babylon

Since Sophia Amoruso is on of my new heroes, I took the recommendation from #GirlBoss  and read The Richest Man in Babylon by George S. Clason.

I love the simplicity of this book.

I tend to overthink things (I can hear everyone who knows me laughing right now and saying “Ya think?”) so it’s refreshing to have the message in this book stripped down to the basic concepts.  This book was originally written in 1926, which was a simpler time for sure.  But the book takes us back much further to the city of Babylon and stories of those most financially prosperous during that time.  Without the complications of 401Ks, business write offs, college funds, etc. it is easier to convey the “Five Laws of Gold” as they are called in the book.

An abundance of wisdom lies in the pages of this book, so I would recommend reading it in its entirety.  There is no magic formula to get rich quick.  No new secret.  Just timeless advice such as the following:

  1. Save no less than 10% of your income (off the top- before paying anyone else.)
  2. Not only save at least 10%, but invest some of that as well.
  3. Seek the advice of experts in the areas you wish to invest in.
  4. Do not invest in things you know nothing about (or give money to people who are starting a business they know nothing about.)
  5. Do not be fooled by “get rich quick” schemes; be patient.