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Joshua Street

The Richest Man In Babylon

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The Richest Man in Babylon is my favorite finance book of all time, hands down.  It’s a fun/light read and I’ve already read it a couple times – I plan to revisit it periodically in the future because it’s such an entertaining way to cover all the timeless principles of building wealth.  I highly recommend you read it if you haven’t already.

George Samuel Clason did a fantastic job of creating relatable analogies within his parables that were assembled to make up The Richest Man in Babylon.  Starting with his description of how a once barren valley was transformed into the opulent city of Babylon due to the determination and hard work of the Babylonians, it’s clear that the overarching message is that lifelong riches are rarely stumbled across, won in the lottery, or a product of birth – they’re earned through hard work and smart decision making as a result of a few timeless finance principles.  Seen through the ups and downs of a handful of Babylonian characters, Clason illustrates that no one is inherently born with the knowledge of generating, saving, and investing wealth; instead, he shows that we’re all capable of learning these key principles of finance and applying them to our own lives to become rich.

 

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http://www.amazon.com/The-Richest-Babylon-George-Clason/dp/1508524351

 

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The broader finance industry is constantly evolving and providing new challenges for practitioners and end users alike. Acknowledging this fact, the best way to effectively manage your own finances and the finances of others is to become a lifelong student of finance. Josh Street created the Student of Finance blog to share relevant and timely topics that are related to financial planning, investments, and managing wealth.

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The commentary on this website reflects the personal opinions, viewpoints and analyses of Joshua Street and should not be regarded as a description of services provided by his employer or its affiliates. The opinions expressed in this website are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. It is only intended to provide general education about the financial industry. The views reflected in the commentary are subject to change at any time without notice. Nothing on this website constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Any indices referenced for comparison are unmanaged and cannot be invested into directly. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.