The Richest Man in Babylon is a classic book when it comes to personal finance, money, and building long-lasting wealth. Highly recommended by masters of personal development like Tony Robbins and Jim Rohn, The Richest Man in Babylon has transformed the financial wellbeing of millions of readers since it was first published back in 1926.
The author, George Samuel Clason, originally wrote the fables contained within the book as pamphlets to be distributed by banks across the United States. When those pamphlets became popular and highly sought after, Clason published them as a standalone book that has stood the test of time for nearly 100 years.
Here are our summary notes from The Richest Man in Babylon.
- Too often youth believes that aged wisdom is only relevant for the days of the past, but they are wrong. The sun that rose a century ago is the same sun that rises today.
- Pay yourself first: save at least 10% of what you earn.
- Everyone is keen to give advice. But you should take advice about the stars from the astrologer, and advice abut jewels from the jeweler, not the other way around. Be careful who you listen to.
- Our “necessary” expenses will always grow to match our incomes unless we consciously protect against it.
- Every time we spend money on a casual wish, we sacrifice a little piece of our most cherished desires.
- Real wealth is not a stock of capital, but a flow of income.
- The fundamental principle of investment: protect your principal. Do not get caught up in the romantic notion of rapidly multiplying your principal or it will disappear before your eyes.
- To increase what you earn, first increase your skills and the value you provide others.
- When a good opportunity arises, jump on it without a moment’s hesitation.
- Women seek men of action.
- Men of action are favored by the Goddess of good luck.
- Wealth is reserved for those who abide by its laws. Wealth flees those who force it to achieve impossible returns.
- Wealth that comes quickly goes quickly. Income that comes slowly stays with you for a long time.
- If you wish to help a friend, do so in a way that doesn’t transfer their burdens onto you.
- Better a little caution than a great regret.
- If you have the soul of a slave, you will become a slave no matter your starting point. If you have the soul of a free man, you will become a free man no matter your starting point.
- What every woman longs for is to be desired.
- A free man looks at life as a series of problems to be solved, and he solves them. A slave blames his surroundings and whines “What can I do?”
- With enough determination, you can always find a way.
You can buy The Richest Man in Babylon on Amazon here.