The Price Man In Jack Gates By George Samuel Clason Analysis
LESSONS FROM “THE RICHEST MAN IN BABYLON- George Samuel Clason”
“If you wish to get rich, save what you get. A fool can earn money; but it takes a wise man to save and dispose of it to his own advantage.”- Brigham Young
Why attracting, retaining and growing money is relevant?
This book was published in 1920s, so this book is almost a century old but it contains lessons and insights regarding wealth and prosperity that anyone (especially, those who find it hard to attract, retain and grow money) can profit from. Many people know how to acquire money but few people know how to keep it and fewer still know how to make money out of money aka the process of money multiplication. Just like in any aspect of life, riches, wealth and prosperity goes …show more content…
So make sure you make shrewd and smart investments so that you have a continuous stream of cash filling/re-filling your wallet and your bank balance.
Fourth strategy: protecting wealth from loss
The most important point that this strategy entail is securing your principal against any potential or actual loss. If your principal is secured, then you can have peace of mind, however if security of principal is uncertain, then refrain from investing in that area at all costs. The key is to build fortune slowly but surely, not by chasing fast money and failing all the time!
Hand your money only to those who are well-reputed and who are able to repay:
The next part of this strategy requires you to hand your hard-earned money only to someone who has the repayment ability and to check how is he reputed in the market. Last of all, though this may appear to be daunting for people lacking finance and accounting background,you must understand, familiarize and educate yourself with inherent risks before investing in any …show more content…
FORMULA FOR WEALTH ACCUMULATION:
There is a formula for wealth accumulation and that is- accumulate wealth in small amounts, then progress towards larger amounts. You should always strive to keep moving forward even if progress means saving and investing $1 per day because even $1 has value since $1 dollar saved and invested will add up to $365 in an year’s time (all the while, not considering the return that it might yield). As you can so clearly see, even something as insignificant as $1 can add up to a significant amount of at least $365 in a year, the value and importance of which is hard to deny.
Keep learning
“If you wish to get rich, save what you get. A fool can earn money; but it takes a wise man to save and dispose of it to his own advantage.”- Brigham Young
Why attracting, retaining and growing money is relevant?
This book was published in 1920s, so this book is almost a century old but it contains lessons and insights regarding wealth and prosperity that anyone (especially, those who find it hard to attract, retain and grow money) can profit from. Many people know how to acquire money but few people know how to keep it and fewer still know how to make money out of money aka the process of money multiplication. Just like in any aspect of life, riches, wealth and prosperity goes …show more content…
So make sure you make shrewd and smart investments so that you have a continuous stream of cash filling/re-filling your wallet and your bank balance.
Fourth strategy: protecting wealth from loss
The most important point that this strategy entail is securing your principal against any potential or actual loss. If your principal is secured, then you can have peace of mind, however if security of principal is uncertain, then refrain from investing in that area at all costs. The key is to build fortune slowly but surely, not by chasing fast money and failing all the time!
Hand your money only to those who are well-reputed and who are able to repay:
The next part of this strategy requires you to hand your hard-earned money only to someone who has the repayment ability and to check how is he reputed in the market. Last of all, though this may appear to be daunting for people lacking finance and accounting background,you must understand, familiarize and educate yourself with inherent risks before investing in any …show more content…
FORMULA FOR WEALTH ACCUMULATION:
There is a formula for wealth accumulation and that is- accumulate wealth in small amounts, then progress towards larger amounts. You should always strive to keep moving forward even if progress means saving and investing $1 per day because even $1 has value since $1 dollar saved and invested will add up to $365 in an year’s time (all the while, not considering the return that it might yield). As you can so clearly see, even something as insignificant as $1 can add up to a significant amount of at least $365 in a year, the value and importance of which is hard to deny.
Keep learning