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George S. Clason
The Richest Man in Babylon
About
Ancient-Babylon parables dressed around first-principles financial advice: pay yourself first, control expenses, make gold work for you, guard against loss.
Why you should read it
If you have been following financial and personal growth gurus/influencers, this book might not be for you as majority of the things are already known by you. If you are starting your financial journey, this book covers all the important lessons which one must know.
Takeaways
- 01Pay yourself first. You must put away 10% of what you earn, and never touch it. Think of it as your retirement plan.
- 02A budget is actually a good thing. It's a way to make your desires fight each other for limited resources.
- 03Investments live or die on the competence of the person/organization you trust with them. Verify before you trust.
- 04Luck favors the prepared. Opportunity might come to you in many forms, accepting it may be form of Good Luck for you.
Favorite quote
The hungrier one becomes, the clearer one's mind works - also the more sensitive one becomes to the odours of food.