“The Richest Man in Babylon” by George S. Clason

richest_man_babylon

Series of stories from ancient Babylon that teach by example how to get out of debt and/or make a lasting fortune.  The secret, which Clason practically beats over the reader’s head: save 10% of your income and live off the rest.  (If in debt, set aside an additional 20% to pay off creditors and live off 70% – yeah it might hurt, but you got yourself into this hole, so you can dig yourself out…)

Then safely invest that 10% with people who know what they are doing.  No risky speculation here.

Kind of interesting how characters in the stories are all kind of related somehow.  Eg. in one story, a guy name Bob learns the secrets of wealth, and then in the next story someone else talks about how rich Bob is and discovers the secret too.

Kind of amazing this book was written in 1926, if not before.

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