I first read the book ‘The Richest Man in Babylon’ in 2009. When I first heard of the book’s title, I thought it’s going to be a good to read fiction set in ancient times that shares the story of a rich man. I did not know I was about to get surprised. The book ended up changing my entire perspective on personal finance. The Richest man in Babylon is one of the most powerful books on personal finances.
Many might think this is one of the many books that talks about money. I am sorry to burst their bubble. This book is not just about money but goes far beyond that. Having the right mindset is very critical to attract money and not lose that money. The focus of the book is to develop the right personality coupled with the right frame of mind in order to be wealthy, prosperous and most importantly happy in life. If I have to review the book in one line, I would simply say that the book teaches How To Get Rich And Stay Rich. When the book is recommended by Tony Robbins and Jim Rohn, need I say more! The Richest Man in Babylon impacted Jim Rohn’s life so much that he has recommended in practically every seminar he has ever held.
When I first laid my hands on the book, I did not know that the book is one of New York Times’ international bestsellers. I have read the book many times since and each time the book has given me new insights on personal financial management. This is one of the books that need to be read again and again to fully implement the lessons contained in it.
The book was first printed in 1926 and it still remains in print after almost 100 years of its initial publication and continues to remain a classic of personal financial advice. The author George S. Clason has used parables to share the ancient wisdom to address subjects like debt, savings, insurance and investment. George S. Clason has used the fictional Babylonian character called Arkad, a poor scribe who became the richest man in Babylon. Arkad was born poor to a humble merchant with no hopes of inheriting anything valuable from his father. Neither did he have any special talents or connections with influential people. So how did he move up from poverty to wealth?
The most important thing was he had a keen desire to be rich. He knew wealth can accomplish many good things in the world. He understood from an early age that if used in the right way, wealth can be a major source of happiness and contentment in life. Arkad dedicated himself learn and study the principles of wealth that will fulfill his desire to be rich. Arkad found a mentor in the form of Algamish who was a money lender and property owner. Algamish taught Arkad the principles of wealth to be rich. Arkad not just listened to Algamish’s teaching but followed it religiously even though he found them cryptic. That is exactly what the book teaches; principles of wealth.
Not everyone is as lucky as Arkad to find a mentor of wealth. Since we have The Richest Man in Babylon to learn from, do we really need a mentor? Probably not.
Hope this book proves to be as important to you as it turned out for me.