Finished 02/12/2020
The Richest Man in Babylon
It felt quite basic, full of fairly obvious points (save 10%, invest in things you understand with experienced intermediaries, avoid unnecessary spending, etc.) presented as simple tales in archaic language. It could work as a starter book, but I found it rather flat, dated (from 1926), and repetitive. The part that impressed me most was a story in which a former slave explains how “loving work” led him to freedom by giving his best, unlike others who only pretended to be busy and did the minimum. That resonated. Here are the 7 golden rules the book outlines.
Notes
- Start the purse to fattening: save one-tenth of your income (at least)
- Control the expenditures: avoid trivial spending
- Make the gold multiply: invest in things that will earn you more (here, for example, lend money to craftsmen)
- Guard the treasures from loss: watch out for schemes and frauds; invest in things you trust and understand
- Make of the dwelling a profitable investment: focuses on buying a home; feels dated
- Insure a future income: work on what you love and strive for excellence. Commitment. Favorite part
- Increase the ability to earn: keep learning. Read other books and improve
As you can see, these are fairly basic points, written in a rather old-fashioned style. At least it was brief.