Book recommendation

The Richest Man in Babylon

Hello Financial Healers,

Last week I was lounging around the fire at my parents’ house. My wife was putting our baby to sleep. Dad was relaxing in his armchair, reading Basic Economics by Thomas Sowell.

I set down my phone and asked, “Dad, do you have any book suggestions? I need something new to read.”

He looked up and asked, “What kind of book do you want?”

I said, “Nonfiction. Preferably on money. I’m in the mood to learn.”

“I’ll be right back.” Dad disappeared from the living room, and returned 10 minutes later with a stack of books: “Choose your weapon.”

I poured over each volume like a child who’d discovered lost treasure. My eyes fell on a book I’d heard of before. It was George S. Clason’s The Richest Man in Babylon.

A study of ancient wisdom

Clason’s book is so famous that most of you probably know it. His story opens in the world of ancient Babylon. The point of view character, Bansir, and his friend, Kobbi, decide they want out of the poor life… so they meet with Arkad, the richest man in town, and ask him how they can gather wealth.

Clason’s book is so simple, but it’s packed with wisdom. One of my favorite lessons is in chapter two: a part of all you earn is yours to keep.

Yours to keep.

Simple right? Yet it’s not so easy to live by. Most Americans are professionals at living beyond their means. I know I used to.

In Clason’s book, Arkad encourages his students to save “no less than 10%” and live on the rest. It pairs nicely with Dad’s LGS: living, giving, and saving, where you give 10% of everything you make, save 10%, and live on the remaining 80%.

Photo: Unsplash

Allowing your gold to reproduce

Another useful tip from Clason is treating your gold like it’s a faithful servant. I’d heard of this concept before, but for some reason, it finally clicked here. Consider this passage from Arkad’s teaching:

“Behold, from my humble earnings I had begotten a hoard of golden slaves, each laboring and earning more gold. As they labored for me, so their children also labored and their children’s children until great was the income from their combined efforts.”

Clason is talking about investing… making your money work for you, instead of collecting dust under your mattress… or getting devoured by inflation.

Arkad’s idea of gold as a laborer mirrors my Dad’s quote: money makes a terrific slave and a terrible master.

I admit that for most of my life, I’ve been a slave to money (or the lack of it). It’s not because I’m unintelligent. It’s because I haven’t learned the secrets of wealth. In Dad’s words, I’ve failed to become a righteous steward. Until now.

If you’ve never read The Richest Man in Babylon, pick it up for a few hours of light reading. Consider the secrets of Arkad. Save no less than 10% each month, and discover risk-averse ways to make money work for you as a faithful servant.

Pursuing the path to riches,
Cory De Silva

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About: Cory De Silva is an American poet, singer/songwriter, screenwriter, actor, and filmmaker. He has released two studio albums, acted in three films, and published a small book of poetry. He is a graduate of CSU Long Beach, and lives in Northern California with his wife, Colleen, and their son, Bryght.