Richest Man in Babylon and The Magic Story

by George S. Clason, Napoleon Hill, Frederick Van Rensselaer Dey

Two classic allegorical dramatizations about building wealth and achieving personal success

The Richest Man in Babylon
George Clason's all-time motivational classic comes to life in this audio dramatization adapted by the Napoleon Hill Foundation. It is the story of Akrad, a man of humble of origins; a simple tradesman who was widely known to be the richest man in Babylon.

Regardless of who you are or what work you do, security, riches, and all that comes with them can be yours by combining discipline and imagination with these deceptively simple yet universally profound principles of saving and investing. You too can become the richest man in Babylon.

The Magic Story
Something was happening to all of Jay's friends-they were becoming self-confident, setting goals, and achieving success, and it was all because of a story that was being told to them by a mutual friend, Sturtevant.

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

Audio CD

First published January 5, 2002

About the author

George Samuel Clason was an American author. He is most often associated with his book The Richest Man in Babylon which was first published in 1926.

Reviews

[Keshav Bhatt · Rating 4 out of 5]

What I loved about reading this is that the principles to creating wealth in the 1920s (when this was written) are still true almost 100 years later, demonstrating that prosperity isn't some magical thing only a few special talented intelligent people with a "secret" can attain. It's really just a few simple common sense practices applied consistently with diligence and discipline to achieve progression. This book is a very good introduction into good financial management and wealth building. It is very practical, simple and free of any "get rick quick" self help gimmicks which I liked. The focus is on sharing principles through a series of fables set in ancient Babylon.

Here are the key things I learned from the book:

* Always pay yourself first. A part of everything that you earn is yours to keep, and at minimum it should be a tenth. After that you can pay anyone you owe money to.

* If you want to become wealthy, you need to learn to set aside your savings and get the "children" of those savings to earn to. Your savings should earn more savings, which in turn should also be put to use to earn more savings and so on. The source of this should be 10% of your earnings so it is consistently topped up with a small amount that multiplies itself.

* Learn to live on less than you earn and then seek advice from people who have the experience and can help you make your savings work for you.

* There is no such thing as luck, it is always created by people who are taking action quickly. Clason writes "Opportunity is a haughty goddess who wastes no time with those who are unprepared". So make sure you complete things you start and waste little time in executing things. You have to stay prepared - it favours the people who take action.

* "Wealth grows where men exert energy." I loved this quote. By amassing and building wealth not only are you prospering, but so are the people around you. For example, if a rich man builds a big palace, has the money disappeared? No, because he has created an asset of his own that holds his wealth but also has employed brick makers, builders, architects, and so many more through exerting energy in this enterprise.

* A small safe return is better than one with risk. And you should always seek to minimise those risks by getting advice from wise experienced people who have knowledge of how and where to invest.

* Don't also be afraid to spend and remember it is important to live while you are still here on the planet. There is a lot to enjoy in life and a lot to explore and do.

* Control your expenditures - as your income grows, so will your expenditures unless you learn to manage them continuously and seek to minimise them. Everyone has more desires than they can actually ever keep up with so a far simpler method is to reduce your wants and needs as much as possible.

* Guard your investments from loss by studying very carefully the risks associated with them and work to reduce them. For example, before you lend any kind of money, make sure that the other party has the ability and the plan to be able to repay you - no matter who that might be.

* This one is as true now as it was then - own the property that you live in. So instead of paying a landlord rent and it constantly being a liability, where the money never returns to you. You are paying out (via a mortgage perhaps) but in the future are not losing wealth, merely building it for the future.

* Plan ahead for not just your own future but the future of the people around you that you care about so that when you are gone, they are well taken care of. You do not want to be a burden on those around you when you have passed on.

* Any wealth that comes quickly leaves the same way. This is because it is normally away from knowledge and persistence - two qualities key in attaining and keeping your wealth. An idea that runs counter to what a lot of false images upheld by the media

* More people want wealth than have it

* Help people, but do not take on their burdens on yourself.

* A little caution is better than a lot of regret

* The hungrier you are for something, the more sensitive you are to the 'odors' of success and prosperity. Stay hungry

[Amber Lemus · Rating 5 out of 5]

An interesting classic with a blend of historic facts and financial advice.

[Adrianne Gutman · Rating 5 out of 5]

5 stars for “The Richest Man in Babylon”
Teaches smart financial literacy habits, budgeting concepts, the mindset one should have when handling money, and more traits (ie hard work) associated with becoming successful.

“The Magic Story” basically said ‘if u want something to get it’. Not sure why it’s an added story in this edition. Pales in comparison to TRMiB and doesn’t really add value

[Jeff Koeppen · Rating 5 out of 5]

The Richest Man in Babylon is a fantastic little book which I believe should be required reading in high school along with typical collection of the great books we all had to read. It was recommended by a financial planner whose podcast I listen to. Basically this is a collection of short and simple financial parables told by a Babylonian who rose from being a slave to the richest man in the city.

Even though it was written in 1926 and the fictional narrator lived 4,000 years ago the advice given is simple and relatable, and still relevant in today's modern world. I wasn't taught personal financial management at all in high school, which is so important. I really didn't understand basic economics or investing 101 until I got in to college. I hope this has changed since I attended high school in the 1980s, and don't recall what my sons were taught in high school or college. At the very least, this little book would be a good introduction of money management, and put some good basic advice in their head.

I'm going to buy a couple copies for stocking stuffers this Christmas.

Also included in my copy was the The Magic Story which is about a short tale, found in an old discarded scrapbook, which positively changes the lives of all who hear or read it.

[Ankit · Rating 5 out of 5]

A classic, easy-to-read book to understand the fundamentals of wealth creation, it explains that the formula for creating wealth remains the same even after 100 years.

If you're in your early 20s, interested in building some wealth, then this book is a must-read for you!

[Marco Neves · Rating 5 out of 5]

106 ready to read pages in which more is told that on most of the pop financial books written since.

Whatever you are reading, put it down, grab a copy of the richest man in Babylon and read it.

[Goce · Rating 5 out of 5]

Marvelous !

[Josie · Rating 5 out of 5]

This book is deceiving.

At first glance, it appears to be a guide on how to clear debts with your earnings while still "living," then what to do with your savings to get ahead/get rich. The "blueprint" of which has been shared again and again by financial masters, teachers, and the like. It is in the final stories that the true treasures can be found. But don't skip straight to them, as without the backstory, the lessons will fall on deaf ears ... as it were.

Those treasured messages were alluded to through the book, but it is only after the tale is told that the true lesson is learned.

I have no doubt that I will be re-reading this book again.

This was initially recommended by Jim Rohn many, many years ago in his workshops. I wonder how many people would say that it is because of his recommendation of this book that their success began?

[Josh McCormack · Rating 2 out of 5]

If you haven't read this book, this is comparable to Who Moved My Cheese and other business books that try to teach through a parable. In this case, we learn basic ideas on how to get rich. I'm not convinced all the advice is still 100% applicable. For instance, the advice on owning your home. Real estate isn't a guaranteed method to grow your money, it's illiquid, and after the recent tax code changes in the US the number of people who will be able to deduct their mortgage on their taxes will go down to around 10% of filers. Beyond that, the book has the feel of being taken to the renaissance festival by a financial planner. It's heavy handed and simplistic, and makes a bunch of assumptions.

[Tum Kanapon · Rating 2 out of 5]

ได้ยินคนอ้างอิงถึงหนังสือเล่มนี้บ่อย

แต่อาจเพราะเป็นหนังสือที่เก่าแล้ว แนวคิดในหนังสือก็ได้ถูกนำไปเล่า อยู่ในหนังสือหมวด Personal Finance ทำให้ไม่ได้มีอะไรใหม่มากนัก แต่สิ่งที่คิดว่าน่าสนใจคือการเล่าเปรียบเทียบเป็นนิทาน

ข้างในมีนิทานอยู่หลายเรื่อง แต่เล่าหลักการซ้ำๆกัน ประมาณนี้

1.เก็บเงิน 1 ใน 10 ให้ตัวเองก่อน => Saving
2.ควบคุมการใช้จ่าย => Control Expense
3.ทำให้ทวีคูณ => invest
4.จงปกป้องทรัพย์ จากความสูญเสีย => insurance
5.จงมีบ้านเป้นของตนเอง เป็นการลงทุนให้มีผลกำไร => อืม อันนี้อาจจะ Controversy ในบางประเทศ แต่จริงๆ มันคือการมองว่า รายจ่ายอะไร ที่ควรเปลี่ยนเป็นรายได้ เป็นสินทรัพย์ แทนหนี้สิน
6.จงประกันรายได้อนาคต
7.จงเพิ่มพูนความสามารถที่จะทำมาหาได้ => Leverage

Quote ที่ผมชอบคือ
โอกาส คือเทพธิดาที่หยิ่งยโส ผู้ไม่ยอมเสียเวลาให้กับผู้ไม่รู้จักเตรียมการ

[Oscar · Rating 2 out of 5]

Not a bad book, but there's little that I couldn't figure out by myself. Which is to say, in any case, not nothing. Some of the transmitted experience may prove valuable for example, and the "one-tenth saving rule" is something that even if considered abstractly may not ever be put into practice, if not encouraged externally.

All in all: apply thy own good will and exert more heedfullness, and thou shall receive the gold by thee much striven for.

My own rating could have been a little higher if the edition in which I'm reading the book was more refined. There are irregularities, omissions and other flaws in the punctuation for instance, and this degradates the quality of the book style. Additionally, even the font size is too small, especially because it is printed on relatively large sheets, which makes one think that someone was likely trying to cut down on printing costs.

[Dragontek · Rating 5 out of 5]

This book teaches you about financial management in general not in a way that throws lot of numbers and information but through wisdom and practical experience. Each chapter, it gives you the idea of the building block of taking care of your wealth to help you become a rich man. A story is told and a wisdom will gain. It can be your specific guide to wealth building because most of the wisdom in the story still applies in today's time. It's like the history is repeating itself. It is easy to read and very insightful but it is short and will take you a week to finish if you read it casually.

[Jens Dalsgaard · Rating 4 out of 5]

A book written a hundred years ago about financial hardship and lessons several hundred years ago. These are fictional stories that carry evergreen financial advice. Professor Randy Pausch (The Last Lecture) calls this a head-fake. We think we read a compelling story about citizens of old Babylin, when in fact we recieve financial leassons that are as relevant now, as they have ever been. Gives a perspective on personal finance, on paying back loans, saving and investing.

[San Alman · Rating 4 out of 5]

This book emphasizes fundamental principles like saving, investing, and living within your means, making it accessible and practical for anyone looking to improve their financial situation.

Clason states, "A part of all you earn is yours to keep," reminding you that saving is the first step toward wealth.

He also emphasizes, "Wealth, like a tree, grows from a tiny seed," illustrating that small, consistent actions can lead to significant financial growth over time.

[Kelvin Furaha · Rating 5 out of 5]

I thoroughly enjoyed the book. It's strange how financial wisdom and advice from the Ancient Babylonian times can still be purely relevant in the modern times. The author kept the stories short and filled with wisdom and gave quick summaries at the end of every chapter. I would totally recommend this book to anyone.

[Emil Bredahl · Rating 2 out of 5]

I finished #therichestmaninbabylon by author #georgesclason. It is not a book that I can recommend to all people as the writing style and way of communication is a bit outdated and relevant for some people. I wanted to finish it because its a famous book but also feel like the message was extremely simplistic and to easy tackled. I will give it 2 out of 5 stars 🌟

[Clinton · Rating 4 out of 5]

Sometimes the fictional part of the book became a bit too dreary like being in a moral lessons class which is what the book is supposed to prevent by being an allegory but other than that, it possesses really solid advice. I've already applied some of these rules and so far so good. A truly timeless piece.

[Joel Crosby · Rating 1 out of 5]

Three hours I’ll never get back. From the historical inaccuracies in the anecdotes, it’s clear the author is unfamiliar with the time period this book is set in. Additionally, there were several grammatical errors especially in the usage of early-Modern English personal pronouns. And the word ‘coin’ hasn’t been around as long as the word ‘money’.

[Grayson Cooper · Rating 3 out of 5]

The book was good and had a valuable lesson about basic financial principles. A good read. Writing style can be hard to adjust to; however, the book has stood the test of time and is valuable to anyone searching for financial literacy.

[Dustin]

Great Book! I will read it again, because I got my nugget and there are many more I missed. I love it because it's not a "faith and believe" book; it's a practical book with a story line, that tells you how to become wealthy by your own way.

[Vasiliki Xyfteri · Rating 5 out of 5]

Through this simple story of a man you learn ecumenical truths on finance that the regular school missed to tell you. It should be read by everyone wanting to succeed in life.

[Robert McGuire · Rating 5 out of 5]

This book should probably be considered for required reading by students in high school. Simple concepts (that are often forgotten) that can enable a lifetime of financial prosperity.

[Alvin · Rating 4 out of 5]

A famous collection of pamphlets originally circulated by banks and insurance companies to encourage thrift and hard work. Very easy to read and comprehend.

[Ben Lobaugh · Rating 5 out of 5]

Engaging stories that reveal foundational financial wisdom in powerful tales.

[Nikkita · Rating 5 out of 5]

A fine read, with some basic but valuable lessons on money.

[Andre · Rating 4 out of 5]

Repetitive, but a good intro to money management.

Basically: save, take opportunities, work hard.

[Daniel · Rating 5 out of 5]

A very wise book. Very simple and timeless lessons.

[Noah McDonald · Rating 5 out of 5]

Excellent book about managing money!

[Jamil Haque · Rating 5 out of 5]

Very motivational book on money management from ancient babylon times, very much recomended!

[Raghad far · Rating 4 out of 5]

Good book .
It shows you the principles to manage your money and how to make money works for you.
It's a simple book, easy to understand and summarized very well.
Highly recommend it 👌