"The Richest Man in Babylon" by George Clason
This past week I took a trip back in time to re-read the investment classic "The Richest Man in Babylon" by George Clason. Originally written in 1926, it details the seven simple rules for building wealth:
1. Start they purse to fattening
2. Control thy expenditures
3. Make thy gold multiply
4. Guard thy treasures from loss
5. Make of thy dwelling a profitable investment
6. Insure a future income
7. Increase thy ability to earn.
I've always felt this is a perfect starter book for anyone seeking to improve their life and start a journey towards financial success. It ranks along side of Rich Dad Poor Dad on the must read list for aspiring investors. Personally, I try to read it once every few years just to refresh myself on the basics and to help keep me motivated on the path to success.
BIGGEST TAKEAWAY: "A part of all you earn is yours to keep." Or put another way, pay yourself first!