Jake Trent

The Richest Many in Babylon

This could have been a real dry book about personal finance. Instead, it's short and sweet with distilled wisdom. It's a collection of stories that are allegories about principles of personal finance.

For instance, here are a few:

The 7 Cures for a Lean Purse

1: Start they purse to fattening

Save at least 1/10th of your income as payment to yourself and your future estate. This part of what you earn belongs to you.

2: Control thy expenditures

Learn what is necessity. Don't waste away money that could better be used in your life.

3: Make thy gold multiply

Use your money to make more money. Do not risk your principal.

4: Guard thy treasure from loss

If a venture is too good to be true, it probably is. Follow the advice of people with knowledge in finance. Combine in ventures with people with track records of return.

5: Make thy dwelling a profitable investment

Your home is a worthwhile place for investment. You'll have something to enjoy and a return for your investment.

6: Insure a future income

Some day you will be old and unable to work. Prepare for this moment. Invest money that will grow over time until this far-future moment.

7: Increase thy ability to earn

Make investment in education. Keep skilling up. Open new doors of opportunity. Be industrious.

And, a bit of restatement:

The 5 Rules of Gold

1: Gold cometh gladly

If you put away 1/10th of your income, you'll keep growing your gold. Create an estate for yourself and your family.

2: Gold laboreth diligently

If you're a profitable servant, you'll put your inheritance, your gold, to work. It will "create children".

3: Gold clingeth to the cautious

You'll not lose your investment if you follow the advise of wise financial men. Don't trust brick layers to anything but the brick business.

4: Gold slippeth away from the unfamiliar

If you don't have the skills or knowledge in a venture, you'll lose money in it. Become familiar or get help.

5: Gold flees impossible earnings

The stats are not good for your financial outlook if you follow get-rich-quick schemes. Don't follow your romantic desires in investments.