Monday, October 11, 2010

Book Review: The Richest Man In Babylon

I have been wanting to read this book for quite a while. I have been hearing Dave Ramsey talk about it over the years so I thought I'd check it out. I got the kindle edition from Amazon for $3.99, the price was right. 
As usual, I'm the last one in the world to read this thing. There is a ton of reviews and summarys on the web, so I won't bore you with another one. So I'll just give you a few impressions of the book. 
When you read a self help or personal finance book, if your like me, sometimes you just want to dig out of the book that new tidbit that your trying to improve yourself with. After a while all these books ussually just repeat the same advice. They sometimes supprise, but ussually not. Then you find a book that tells a good story that draws you in and you can't put the book down. This was what this book did for me. I enjoyed the process the story takes you thru to make a point. The timeless truths that will help you win financially. This book just doesn't teach these truths, it teachs the wisdom needed to win in other facets of life, too. 
It's a small book, only about 150 pages, you'll have it read in no time. It tells in a parable like style the secrets of becoming wealthy. It's a book that can be read and reread. In today's world it could be considered naive and preachy. But like most books that teach in story fashion, the wisdom can only be seen with an inquisitive mind. 
The truths in the book are simple but eternally true : 
  • Save and invest 
  • Watch out for self serving middlemen 
  • Use powerful investments 
  • Stay away from hot tips 
  • Stay within your means when buying a home 
  • Do work you love and become excellent at it 
  • Increase your earning potential and keep educating yourself 
These tools are the old fashion way to succeed. No get rich quick scheme here. These are the rules of success. Work hard and be successful. 
For me I'll be reading this book again. These lessons are what we should be teaching in school, but they won't be because this is about self reliance and hard work. I recommend this book for all ages especially the young adults starting in the world. Why make mistakes when you can do it right the first time. 

1 comment:

  1. I read this book many years ago. It is a classic, and teaches some timeless money principals.


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