Wednesday, August 26, 2009

The Richest Man In Babylon

1) Start thy purse to fattening

2) Control thy expenditures

3) Make thy gold multiply

4) Guard thy treasures from loss

5) Make of thy dwelling a profitable investment

6) Increase thy ability to earn

7) Insure a future income

** A part of all I earn is mine to keep.

He must pay his debts with all the promptness within his power, not purchasing that for which he is unable to pay.

He must have compassion upon those who are injured and smitten by misfortune and aid them within reasonable limits. He must do deeds of thoughfulness to those dear to him.

Men of action are favoured by the goddess of good luck.

The 5 laws of gold:

1) Gold cometh gladly and in increasing quantity to any man who will put by not less than 0.1 of his earnings to create an estate for his future and that of his family.

2) Gold laboureth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.

3) Gold clingeth to the protection of the cautious owner who invests it under the advice ot men wise in its handling.

4) Gold slippeth away from the man who invests it in business or purposes with which he is not familiary with or are not approved by those skined in its keep.

5) Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who truists it to his own inexperience and romantic desires in investment.

This is the most fundamental financial book every beginner must read like a bible. The concepts are applicable to everyone. Even though principles are simple to understand, putting all that into action is another matter. You can read a thousand books and not become a bit wiser simply by doing nothing. Inaction does not result in wealth. Discipline and determination is a must to act on what we have learned.

[Via http://chengengxin.wordpress.com]

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