Summary
The Richest Man in Babylon by George S. Clason features a collection of stories set in ancient Babylon that have to do with personal finance. Even today, thousands of years after the settings of the stories, the principals remain just as impactful.
Many of the stories feature a man named Arkad, the richest man in Babylon, as he gives advice to his friends or teaches a class. Everyone, from lowly merchants to the king himself comes to Arkad for financial advice, and he is happy to oblige.
My Thoughts
The Richest Man in Babylon is a great introduction to anyone new to the world of personal finance. Although Arkad’s financial principles are simple (e.g. save 10% of your income to invest, limit your expenses, and embrace the power of compound interest), they are the very things most people still fail to do today. You won’t find anything new or revolutionary here, but it will help you lay a firm foundation to start building your wealth, and the way the lessons are presented makes them interesting to read.
My Rating: 4/5
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