Written in the 1920s, The Richest Man in Babylon is an Inspirational Classic
George Samuel Clason was born in Louisiana, Missouri, on November 7, 1874. He attended the University of Nebraska and served in the United States Army during the Spanish-American War.
Beginning a long career in publishing, he founded the Clason Map Company of Denver, Colorado and published the first road atlas of the United States and Canada. In 1926, he issued the first in a series of pamphlets on thrift and financial success, using parables set in ancient Babylon to make each of his points.
These were distributed in large quantities by banks and insurance companies and became familiar to millions, the most famous being “The Richest Man in Babylon,” the parable which has impacted the lives of millions of people.
These “Babylonian Parables” have become a modern inspirational classic. I first heard about this book 17 years ago. At that time, I worked part-time in a direct sales company called Euphony and one of the leaders in the company invited us to a leadership day and played us 4 hours of video (yes VHS tapes! Young people: Google ‘VHS’) called ‘How to have your best year ever’ by a guy called Jim Rohn.
Mr. Rohn talked about his early mentor, a man named J. Earl Schoaff and went on to tell us how Mr. Schoaff turned him on to personal development and pointed him to the right books to read. One of the most important books, said Rohn was ‘The Richest Man in Babylon’. I remember distinctly Jim Rohn saying that this book would change people’s lives if they were to read it and he predicted that only 3% of people listening to him would actually go out and read the book.
I remember vividly that my inner voice said “I’ll be one of the 3%!” And I was and it has changed my life. It is to this day one of the most profound books on wealth building I’ve ever come across.
But Mr. Rohn’s words of wisdom kept echoing in my mind. So I read it over and over until the principles were embedded into my conscious and subconscious mind. Just last week I read it again – not sure how many times that would make it – and it still impressed me. On the plane back from Austria I then gave it to a lovely older man who confessed that he was broke, had no pension and didn’t understand the laws of money.
I felt like I had the secret weapon right there in my hands. So it’s less than a fiver and I urge you to get it. Or if you got it – re-read it! Here are some of the highlights. The author tells an ‘ancient’ story or Arkad, the ‘Richest man in Babylon’ who is asked by the king to teach wealth to all of Babylon’s citizens. Here are Arkad’s 7 basic principles:
1) Start thy purse to fattening – pay yourself first (save/invest)
2) Control thy expenditures
3) Make thy gold multiply – learn to invest
4) Guard thy treasures
5) Make of thy dwelling a profitable investment – own property or other assets
6) Ensure a future income – do work that you love to do. Become excellent at it.
7) Increase thy ability to earn – education never stops
The Richest Man in Babylon is an excellent book. Although only 145 pages, it is packed with powerful information that can be life changing.