The Richest Man in Babylon -- Six Laws of Wealth

by Charles Conrad

For decades, people have turned to the story of The Richest Man in Babylon to learn the fundamentals of finance. In this new rendering by Charles Conrad, the classic tale is retold in clear, simple language for today's readers. The ancient Babylonians were the first people to discover the universal Laws of Wealth. The Richest Man in Babylon reveals their timeless secrets. Through this entertaining parable, you'll learn how * Keep more of what you earn
* Put your savings to work for you
* Get out of debt
* Choose wise investments
* Increase your earning power
* Safeguard a lasting fortune Get the Kindle e-book FREE with purchase of a paperback, with Amazon MatchBook.

Genres: Finance, Nonfiction, Business, Personal Finance, Personal Development, Money, Self Help

32 pages, Paperback

First published June 4, 2013

Reviews

[Jess Kang · Rating 5 out of 5]

1. Save at least 10% of your income
2. Put your savings to work for you. Invest it so that it will multiply.
3. Avoid debt. The poor pay interest, while the rich earn interest.
4. Don’t speculate in get-rich-quick schemes. Invest in solid business you understand.
5. Invest in yourself. Gain knowledge and skills to increase your earning power.
6. Safeguard your growing fortune with diversification and insurance.

[Shirin Eralieva · Rating 4 out of 5]

This is a concise, excellent financial advice that is straightforward and easy to read! I like that it's in the form of stories rather a just information. However, the semi-archaic language sometimes comes off as a little artificial.

“THE SIX LAWS OF WEALTH

The First Law of Wealth: Keep a part of all you earn. Save at least 10% of your income.

The Second Law of Wealth: Put your savings to work for you. Invest it so that it will multiply.

The Third Law of Wealth: Avoid debt. The poor pay interest, while the rich earn interest. The

Fourth Law of Wealth: Don’t speculate in get-rich-quick schemes. Invest in solid businesses that you understand.

The Fifth Law of Wealth: Invest in yourself. Gain knowledge and skills to increase your earning power.

The Sixth Law of Wealth: Safeguard your growing fortune with diversification and insurance.”

[William · Rating 5 out of 5]

A Solid Start

I very very easy and quick read to get your mind thinking in the direction of creating wealth. A recommended read and foundation of thought.

[scl.ashx · Rating 4 out of 5]

The book - "The richest man in Babylon - six laws of wealth" is more of a 3.75. It is overall a good book.

[Bodie Thomas · Rating 2 out of 5]

This book was terrible. The whole book repeats the same 6 points every chapter. The language was old and confusing. I had to read it for Konos.

[Rebecca Foreman · Rating 5 out of 5]

Another fantastic quick read!

Anyone that is interested in controlling their finances should read and implement this. Glad to have come across this, time to implement it!!

[Michael · Rating 5 out of 5]

Short and sweet.

[Sylvia · Rating 5 out of 5]

What a great treasure of learning, in such a short and simple to read book. Though I have heard many of these lessons before, I truly enjoyed how the author put it into an easy to read story. I found that the way it was written, really helps you retain then knowledge that he's teaching. Instead of being another dry, and boring read, about money and debt, the author has wound a tale that keeps you reading, and wanting to hear the rest of the story.

[Nadia · Rating 3 out of 5]

The 6 Laws of Wealth

1. Keep a part of all you earn. Save at least 10% of your income.

2. Put your saving to work for you. Invest it so that it will multiply.

3. Avoid debt. The poor pay interest, while the rich earn interest.

4. Dont speculate in get-rich-quick schemes. Invest in solid businesses that you understand.

5. Invest in yourself. Gain knowledge and skill to increase your earning power.

6. Safeguard your growing fortune with diversification and insurance.

[Jay Ehret · Rating 2 out of 5]

Received as a gift from my employer. Readable in about 15 minutes. A condensed knock-off the the classic original. Good in that it orients your mind, gets you thinking about the principles, and makes you want to learn more.

[Tammie · Rating 5 out of 5]

Quick and awesome read

I don't know why it took me so long to purchase or read this book. It was easy to read. The laws are clearly laid out and easy to apply. The storyline is simple and the laws are logical. I am going to start implementing them immediately.

[Bogdan · Rating 3 out of 5]

Quite short.

It highlights the following rules:
- keep more of what u earn
- put your savings to work for u
- get out of debt
- choose wise investments, don't speculate
- increase your earning power by gaining knowledge and skills
- safeguard a lasting fortune with diversification and insurance.

[Fabio Bianco · Rating 4 out of 5]

This book allows you to understand many aspects of personal finance, and how to manage your money, explaining it in a simple way and making you understand the concepts even if you are not an expert in the field.
“Where the determination is, the way can be found”

[Gift Lyoko · Rating 4 out of 5]

Clear and concise

The book is concise and straight to the point. The book articulates the points very clearly in an interesting manner.

[Sharla Gabriel · Rating 5 out of 5]

Short and to the point

For those who don't want to read the long version. this is a good recommendation. A lot of wisdom and good lessons

[Bong88 · Rating 5 out of 5]

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[Erik · Rating 5 out of 5]

Thus I have concluded my second and now yearly complete read through of The Richest Man in Babylon. Consistently on a nearly daily basis I find myself afloat in a sea of the parables this book doles out. Rolex, Gucci, BMW, Mercedes, the countless badges of honor worn so proudly not only by those with the means to do so, but now increasingly in our day and age with those who merely aspire to have the means to do so. In our dopamine saturated environment of the twenty first millennium Anno Domini, nearly all of us could benefit from the timeless lessons that Clason provides.

Clason himself has the chops to provide these stories meaningfully. He inhabited an exacting era of America that allowed success solely through determined grit or connections, only one of which he possessed. Clason’s business ventures succeeded through the common-man-scarcity of post Victorian Age America. Clason was no Rockefeller, Vanderbilt, or Post when he set out westward from humble rural roots. In the era of the Lochner court which would sooner cut down a common man than allow any prosperity among the financially feeble, this sole man became tremendously wealthy applying principles and logic that modern Americans are all too often lacking but are plainly laid out in this story.

Alas I leave you with something to meditate upon: if you find yourself being critical of this review or are stung by the blanketing accusations against our modern creditor caste, perhaps ask yourself, do I need these lessons? Maybe look in your driveway and compare the liabilities and notes owed on a depreciating asset. Examine the financial effort you expend to maintain the nebulous pursuit of dopamine with the effort you place in buying yourself time, freedom, and opportunity.

[Debbie · Rating 5 out of 5]

I 'read' this as an audiobook. It is written in story form with the wisdom of money management the focus. Even though the time it was written thousands of years B.C. the information is extremely relevant and 'modern.' The book comes from translated clay plates found in the ruins of what is said to be the library of Babylon (yes, the Biblical Babylon). It is the story of how the richest man living in Babylon at the time started out in poverty and became the richest. (This was well before Solomon's time) He has been asked by the community leaders (when Babylon was a struggling community, not an empire) to teach the community leaders and business leaders in the community how to acquire and grow their wealth. It is these lessons as they were followed, that brought Babylon to the place of leadership and power in the ancient world as we know it. From his lessons the book begins to follow some of the friends as they spread the lessons to others. The entire book is told as parables and stories to explain the practicality of good business sense. Very good and I highly recommend it. Especially for those who prefer stories to instructional books.

[Conrad Sienkiewicz · Rating 4 out of 5]

The Richest man in Babylon is a short Parable on how to achieve wealth in one's life. It provides seven "cures" to poverty:

1. Start Thy Purse Fattening
2. Control Thy Expenditures
3.Make Thy Gold Multiply
4.Guard Thy Treasures from Loss
5. Make Thy Dwelling a Profitable Investment
6. Insure a Future Income
7. Increase Thy Ability to Earn

All of these are common pieces of advice simply infused in the parable itself. Additionally, the story provides "The Five Rules of Gold," which as summarized to

1. Save 10% of your income.
2. Invest your money.
3. Invest only with intelligent/knowledgable people.
4. Understand the investment/business you're entering.
5. Do not pursue impossible returns, as it's likely a scam.

Again, all good pieces of advice.

Overall, the book provides excellent and accurate information on how one should treat their personal finances when they have no background in the subject. Even to people with a background in the subject, the story can be finished easily within a day and gives a good reminder about personal finance. I'd recommend this book to most anyone.

[Daniel Vera · Rating 5 out of 5]

This book teaches me about PERSONAL FINANCE and the mentality you need to create WEALTH:

Scroll Marked I- Starting fresh, letting go of the old habits, shedding the old skin. Don't let unnecessary or experiences bring you down use what you already have and go form there. making decision and making them into reality. being determined. Failure is a man's inability to reach his goals in life, whatever that may be.

Scroll Marked II- Greeting the day with LOVE. Being thankful and appreciating the little things. Not have resentment towards other people and being forgirveful.

Scroll Marked III- Its all about mentality, "I will win". If i persist long enough I will win. Don't let today's success I will you into tomorrow complacency, for this is the great foundation of failure. "I will try and try again!"

Scroll Marked IV- Learn to separate work life from personal life. Have balance, know your worth. Every chance you have to grow take it. You are one of a kind and use that to you advantages. Don't gratifies yourself over small things.

Scroll Marked V- This scroll is about enjoying and living every moment of life and being thankful.

Scroll Marked VI- "Weak is he who permits his thought to control his actions; strong is he who forces his action to control his thoughts." Making yourself uncomfortable putting yourself to the challenge. its all about mastering your emotions; HUMBLE YOURSELF!

I WILL BE THE BEST SALES MAN THE WORLD HAS EVER KNOWN.

Scroll Marked VII- Cultivating the habit of laughter, laugh at yourself, don't take yourself too seriously. Don't let the petty happenings of today disturb you. Four words that I will train myself to say every day until is a habit. THIS TOO SHALL PASS!
I will laugh at the world
I will be happy
I will be successful

Scroll Marked VIII- Today I will multiply my value a hundredfold. First I will set my goals for today, the week, the month, the year, my life. Do bigger things than must, plan bigger, think bigger. To surpass the deed of other is unimportant to surpass your own deed is all.
I will not aim low
I will raise my goals

Scroll Marked IX- Dreams are worthless, my plans are dust, my goals are imposible; all are of no value if they are not followed by action. ACT NOW! Action is the food and drink witch will nourish my success. Is better to act and fail than to not act. I am the man!

Scroll Marked X- Only pray for guidance, not for material thing. Having faith in God. God will provide me with everything I need.

- Keep more of what you earn.
- Get out of debt
- Put your money to work for you
- Choose wise investment
- Safeguard a lasting fortune

[Mingan Beyleveld · Rating 4 out of 5]

Filled with wisdom and presented in a novel way, The Richest Man in Babylon is a wonderful collection of parables set more than 4,000 years ago.

The "laws of wealth" are presented in an engaging way, making interesting what could otherwise be rather boring material. The financial principles presented as ancient Babylonian parables, impart a lot of wisdom and promote sound financial decision-making to the general public.

The book does not go into depth, and I did not find it life-changing; although I certainly found it to be a refreshing reminder of good financial principles.

I'd highly recommend this book to anyone interested in personal financial management or looking to gain a better understanding of the principles of wealth preservation and wealth creation.

[Tristan · Rating 3 out of 5]

I feel like this book was written for people who like the bible and need to be told a tale written like it could be from the bible in order to be told advice on money. And I do not like the bible, so I didn't enjoy this. The only interesting part of this book is the beginning when you get a mini history lesson on Babylon. Otherwise, this book was pretty annoying to read.

That's not to say that there isn't some good tips on finance in here. Save 10% (I'd venture to say save at least 25% in this day and age or split 25% between your savings and debt pay off goals). Don't take advice from people who know nothing about the thing you're asking about. Be wary of people trying to scam you. And don't go into debt for things you can't afford. Live within your means.

This is a short book so, you know, you won't waste too much of a your life if you're hellbent on reading this book the way that I was, but not sure I got any value out of it.

[Rishabh Anand · Rating 5 out of 5]

Really enjoyed the book. The Six Laws of Wealth can be summarised as below:

The First Law of Wealth:
Keep a part of all you earn.
Save at least 10% of your income.

The Second Law of Wealth:
Put your savings to work for you.
Invest it so that it will multiply.

The Third Law of Wealth:
Avoid debt.
The poor pay interest,
while the rich earn interest.

The Fourth Law of Wealth:
Don’t speculate in get-rich-quick schemes.
Invest in solid businesses that you understand.

The Fifth Law of Wealth:
Invest in yourself.
Gain knowledge and skills
to increase your earning power.

The Sixth Law of Wealth:
Safeguard your growing fortune
with diversification and insurance.

[345678 2343o5o342o · Rating 5 out of 5]

When I read Theory-fiction, I base it off of this book. Easily the most well-know peice of theoy-fiction yet made. It conveys messages about proper money management in a way akin to the fables of yore. As for the advice, it is genuine. Is it borderline common-sense? Yes. However, when money is concerned, common sense is remarkably rare. Often do I see people posting on reddit or /biz/ about how they wasted an inheritance on some rugpull stock or crypto. Had they read this book and actually understood it's numerous messages, they would have not been so pitifully foolish.

Overall, I give it a buy dividend stocks out of five.

[Danish Ali · Rating 5 out of 5]

This book is one of the best I have ever read on financial growth. The lessons are timeless yet simple, and they show how small daily money habits can create long-term wealth. I liked how the stories were easy to follow while carrying powerful principles about saving, investing, and discipline.

What I found most valuable is how the book makes you rethink money not as something complicated but as something anyone can control with the right mindset. Every chapter gave me a practical takeaway I could apply immediately.

I would recommend this book to anyone who wants to improve their financial understanding and build stronger habits for wealth over time.

[Haerro · Rating 3 out of 5]

Was ok, not much useful info. Learned to use every dollar like a soldier in an army. Need to grow the army. Stuff like that. To not receive investment opportunities for carpet trading from a brickmaker. 10% into investments from the start of your paycheck (the notion of paying yourself first). Didn't care for the Babylonian story. If anything the story shows how being a wealthy city doesn't mean shit when the city gets burned to the ground by conquerors. Focus on oneself always and do not let the pursuit of money blind you.

[Ta'Shae · Rating 4 out of 5]

I would recommend this book to young adults especially but ultimately anybody can read it. The book is filled with information on key money management, growth and retainment. However, I would note that it is set during a much older period with the stories used to act as metaphors so be aware that you will have to tweek your understanding for it to fit modern day society. I am so happy that I read this book because this is information that is extremely valuable and a treasure to know!

[Joel Berrocal · Rating 4 out of 5]

The Richest Man in Babylon remains a cornerstone book in personal finance. Its straightforward, principle-based approach to managing personal finances has inspired countless readers to take control of their financial destiny. Whether you’re just starting to learn about personal finance or you’re a seasoned investor, Clason’s parables offer valuable insights and timeless wisdom on the path to financial independence and prosperity.

[Y Kanan · Rating 5 out of 5]

A story short on becoming rich. A man tells his old school mates and friends in Babylon how he became so wealthy. He explains to them the knowledge he received from a wealthy man and the process he went through to implement that knowledge which eventually led to him becoming so successful he became the richest person in Babylon. His school mates listened, some believed him and others not. The ones who believed will follow his achievements.

[Bill Swansen · Rating 5 out of 5]

Great concise read about accumulating wealth through sound investment and saving practices.

Wish I had read this 40 years ago. Told in an engaging manner, as a tale from ancient Babylon. It only took about 15 minutes to read the entire book. I will forward this book to everyone I know and encourage them to read it as soon as possible.