If you’ve been around enough business and finance circles, someone has likely told you to seek out the story The Richest Man in Babylon. It’s got a pretty simple message, but it’s an important parable that will give you some good life lessons.
The crux is that of everything you earn, you will only keep 10%.
The story follows two people who meet with another man, a wealthier man, and inquire why he should be so rich while they struggle. His responses form the basis for the story: “I found the road to wealth when I decided that a part of all I earned was mine to keep.”
This is the money you should try and put to work for you, and that simple message is one you should keep close at heart. It’s a solid story, and this version is a good retelling. You’ll also learn a few other important lessons along the way, such as not listening to so-called “experts” and instead choosing to qualify someone yourself.
This edition also comes with The Magic Story, which might not be as familiar to most. It runs a bit contradictory to the standard investment advice of saving for a better payoff later, but it provides some interesting advice on how to find yourself. Essentially, we have two forms: a negative and positive. Choosing which one you embrace can directly impact your success in life.
The trouble with this edition? The Magic Story takes far too long to build up to its point here. In other editions, it’s a lot more succinct. You might want to order them separately, but if you can get through the buildup then they are both great parables.
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