The principles below are from the book “The Richest Man in Babylon” by George Samuel Clason. The novel is made up of clever analogies that promote financial wisdom and managing household finances more efficiently.
- 1) Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family. (Save 10%)
- 2) Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field. (Keep the money working diligently in profitable scenarios)
- 3) Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling. (Keep a Wise Council)
- 4) Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep. (Invest in what you know and understand)
- 5) Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment. (If it is too good to believe, it probably is.)Using these laws of gold, Nomasir became rich. “Yet, who can measure in bags of gold, the value of wisdom? Without wisdom, gold is quickly lost by those who have it, but with wisdom, gold can be secured by those who have it not, as these three bags of gold do prove.”A small passage from the novel that I believe to be valuable to anyone, even the people that may be foolish enough not to read the entire book or at least put aside the time to listen to the audio link attached below. (Youtube)
Finally I leave you with a quote from the Richest Man in Babylon,
“Advice is one thing freely given away, but watch that you take only what is worth having.”
Outlier Allocators 