The Richest Man in Babylon is a great starting point for anyone who is just starting off on their journey towards financial wellness or stability. If finance or investing are of interest to you, then you’re likely going to be reading through simple principles and lessons that you’ve previously heard or read in other places.
The parable format the story is told in makes reading the book bearable for anyone who is already savvy because the stories are entertaining enough. If you aren’t looking for a pat on the back for doing the correct thing already though, then you can honestly skip the book. I don’t regret reading it, as it’s at the top of every popular list for finance and it’s nice to have it under my belt, but I don’t think i’ll be picking this one back up to scrounge for refreshers or tidbits I may have missed. You can go down the Youtube rabbit hole on finance topics to find the lessons from this book simplified and absorbed completely in 15 minutes. If you prefer to go the book route I won’t discourage you from doing so, as it’s a good book. I just don’t believe the lessons within are optimally taught in book format nowadays.
Simply stated, this book encourages you to work, pay yourself ten percent first, then invest wisely.
If you’re looking for a more in depth look at investing check out “The Intelligent Investor.” If you’re looking for a practical and story driven investing book check out “Rich Dad Poor Dad.” The Richest Man in Babylon doesn’t quite hold up to the other financial education books I’ve explored this year, but it is a short read and provides a strong foundation for people early on their path towards financial wellness.
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