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The Richest Man in Babylon

The Richest Man in Babylon

List Price: $6.99
Your Price: $6.29
Product Info Reviews

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Rating: 3 stars
Summary: Chicken Soup for the Thrifty
Review: Not a fan of self help or investment books, I put this off for far too long under the assumption that it would be a dry and boring self help book on how to become rich easily (sort of like losing lots of weight really fast). It was not what I expected. The stories are parabolic so the fiction is not like picking up something by Clancy or Updike but they are entertaining and not painful in the least. The strategies suggested for increasing your wealth make sense and are so simple that they seem self evident but it is often the simple things that we overlook. Save one tenth of what you make, make your money earn more money, be careful who you trust, etc. For the average person, this is not a guide to getting rich, but I believe it is a good guide to becoming and staying solvent at least. This is not going to get into any methods, just offer a mindset.

Rating: 4 stars
Summary: A profound impact
Review: First, the writing style of this book is somewhat dated. It's told from an ancient Babylon perspective for the most part, while the wording is reminiscent of the King James Bible. This might be offsetting to some people, but that shouldn't stop you from reading it.

The content inside is worth a million times the price you pay for the book. For those of you who are already well-off, you will have minimal gains by reading the book, but for the people who live paycheck-to-paycheck, and have trouble accounting for where their money went at the end of the money, this is your book.

The prinicples outlined in the book will serve you well in starting to, and continuing to build wealth. The only thing you have to bring to the table is a willingness to apply the knowledge gained from the reading experience

Rating: 4 stars
Summary: Save and invest -- shrewd insight?
Review: The most important "success secret of the ancients" I think is revealed on page 25: "I found the road to wealth when I decided that a part of all I earned was mine to keep." So to start getting rich you have to save, but how much? The "First Law of Gold" has the answer: "...not less than one-tenth of his earnings..."

The book's basic message in plain language is: If you want to be wealthy, save and invest at least 10% of your income. If you are already following this message this book won't help you. But if thinking of saving and investing as "ancient secrets" and "Laws of Gold" is what it takes to get you motivated to save then this book is for you.

I deducted one star because one-tenth is not aggressive enough. The "First Law if Gold" should be at least 15%. There are signs that inflation after a long absence is on the way back.

Rating: 5 stars
Summary: Excellent Book
Review: I wish I had read this when I was 18 intead of when I was 30. I read this several years ago and have been paying myself first ever since. I can't wait to read this to my daughters as a bedtime story when they are old enough.

Rating: 5 stars
Summary: A great place to start on the road to wealth
Review: I've given this book as a gift to friends and family and all have said how much they enjoyed the stories and the lessons contained in each. It's one of my favorite books.

Save 10% (at least) of your income; pay yourself first. Put that money to work in a safe, profitable investment. Let time do the rest and you too will be free of financial worries one day soon.

Rating: 5 stars
Summary: Very easy reading to introduce the concepts of wealth
Review: It is a very easy and light reading to introduce the concepts of wealth. It is based on a story how a man became rich in the ancient world of Babylon. However, the concepts are timeless, such as pay yourself first.

Considering the time the book was authored, it is pretty impressive.

Rating: 4 stars
Summary: Great book the first time I read it....
Review: The Richest Man in Babylon is a story that focuses mainly on a man named Arkad who is the richest man in all of Babylon. This wealthy individual is commisioned by the King of Babylon to teach his fellow man the basics of wealth creation. (Smart king if you ask me)

This book has 7 cures for a lean purse (wallet/checkbook/bank account whatever)

1. Start thy purse to fattening - Basically save 10%+ of what you earn.
2. Control thy expenditures - Never spend more than you earn (I don't think a house counts on this though)
3. Make thy gold multiply - Put your saved money into something that will grow such as a mutual fund
4. Guard thy treasure from loss - Make relatively safe investments (you wren't planning on using your entire IRA on an option were you?)
5. Make of thy dwelling a profitable investment - In other words own you own house
6. Insure a future income - Save for your retirement
7. Increase thy ability to earn - Study for more skills, keep on learnin'

I really enjoyed this book the first time I read it (in fact this book actually got me off my but and I started my brokerage account because of the power of Mr. Clason's writing), however this second time around I am not nearly as pleased, one of the reasons for this is the text is written like it is that time period (hundereds of years B.C.).

Reed Floren

Rating: 4 stars
Summary: The Origanal!
Review: This is the book that started it all! Rich dad, automatic millionair all of them have a foundation in this book. While Almost everyone knows what it says, save 10%, give 10%, it is how it says it that is important. A must read!

Rating: 5 stars
Summary: lesons to be rich
Review: Classic. Very good. Save 10% of what you earn. Invest 10% of what you earn. Give 10% of what you earn.

Rating: 4 stars
Summary: Solid wisdom for financial success
Review: It's been around for a while, in fact my father gave men a copy many years ago. It took me five years to read it and another twenty years to figure out how much wisdom it contained. I gave copies to my sons. The basic theme is that regardless of your income level or debt situation you can succeed and grow rich if you follow the simple formula. 10% for investment. 20% to pay off debts. And 70% to live on. The secret is the 10% to invest. Few of us can do that all the time, sometimes paying the electric bill takes all we've got and then some, but its good wisdom, and in a persuasive format. This is one of the rare books with simple yet profound wisdom. It ought to be read by everyone who wants to get out of the rat race, stop living from pay check to pay check, and start growing rich.


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