I recently read an article about building wealth that said the same principles apply today from that of 90 years ago. I asked myself – how can that be possible?
This was a review of the book written by George Samuel Clason in 1926 called The Richest Man In Babylon. The book is written as a collection of stories about building wealth. The author alludes through his story telling that everyone has the ability to become wealthy. The one thing that separates the rich from the not-so-rich is the ability to be prudent. So these are the areas that were highlighted…
- Don’t spend ALL that you earn – set aside something every pay
- Stick to a plan – create a budget and stick to it
- Invest savings wisely – invest wisely, do your due diligence
- Get expert advice on investment – safeguard against loss
- Increase your value – learn new skills, do things others don’t want to do, make yourself valuable
- Plan for the future – for retirement
Believe it or not, there is no secret to building wealth. It comes down to common sense. And whether you are someone who can plan ahead, make hay while the sun shines, are disciplined enough to live within their means and put something away each and every payday, listen to the right advice and invest wisely in yourself for continual self improvement.
If you have not yet read The Richest Man In Babylon, I highly recommend getting yourself a copy and begin your journey of wealth building by developing your own plan.