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Summary of The Richest Man in Babylon — Six Laws of Wealth
Short summary
History holds that the ancient Babylonians were the foremost people to unravel the laws of prosperity. Charles Conrad is a writer, financial educator, and founder of Best Success Books, who shares his strategies for making, multiplying, and sustaining wealth. You are guaranteed to learn how to save more of your cash inflow, avoid debt, make more money for yourself, draw the right relationships, invest wisely, and sustain your affluence.
To start, you don’t need to possess great wealth. Charles Conrad believes that anyone and everyone can become rich by doing hard, steady, and strategic work. All it takes is willpower and strength to continue no matter what. To relate the 6 laws of wealth to the reader, the author of The Richest Man chose parables — concise didactic stories that illustrate some rule or law, in our case. Abiding by the 6 laws mentioned in the chapters below, anyone can and will become affluent over time.
“A nation’s economy is only as healthy as the finances of the individuals within that economy.” ~ Charles Conrad
12 min
7 key points
7 insights
Table of content
- Summary of The Richest Man in Babylon — Six Laws of Wealth
- About the author
- What is The Richest Man in Babylon — Six Laws of Wealth about?
- Who should read The Richest Man in Babylon — Six Laws of Wealth
- Topics in The Richest Man in Babylon — Six Laws of Wealth
first key point
Even if you weren’t born with a silver spoon, you can still be rich
Listen the first key point
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Getting rich starts with the right attitude. Many of us tend to multiply excuses for why we can’t be prosperous rather than look for ways to accumulate wealth. What is more, there are people who still believe that money is cursed, and it has the potential to corrupt a human soul. This harmful excuse leaves many struggling while lying to themselves. In fact, money is the energy that fuels our daily activities and offers opportunities for self-realization and finding one’s calling.
Our story begins with a certain man named Nasir who lived in ancient Babylon 7000 years ago. He was the richest man at the time, and a lot of people envied him because of his luxurious possessions. Most people accused him of thievery because of the vast amount of gold he had amassed.
On a fateful day, while he plied the roads of Babylon in his caravan, he was halted by the shout of an old friend, Ravi. Ravi asked Nasir if he could still recognize him, and Nasir said sure he could remember calling his name, Ravi. Ravi was, however, perplexed at how much his friend has evolved into a very wealthy person.
Our story begins with a certain man named Nasir who lived in ancient Babylon 7000 years ago. He was the richest man at the time, and a lot of people envied him because of his luxurious possessions. Most people accused him of thievery because of the vast amount of gold he had amassed.
On a fateful day, while he plied the roads of Babylon in his caravan, he was halted by the shout of an old friend, Ravi. Ravi asked Nasir if he could still recognize him, and Nasir said sure he could remember calling his name, Ravi. Ravi was, however, perplexed at how much his friend has evolved into a very wealthy person.
To become wealthy, one does not need to be dishonest, as there are many ways to scrape up a fortune through hard work and thinking ahead.
He further inquired to know the secret of Nasir’s wealth. After all, he was more than convinced the ill accusations people labeled him with were false because he knew his friend to be a sincere person. Nasir told his friend that he was just obeying the laws of wealth, which he had neglected, and that was the only way.
Ravi pressed further to know these laws of wealth. Nasir, who was at first reluctant to share his secrets because it remained the wealthy people’s code to conceal the keys to their fortune, was then moved by compassion for his dear friend, and he revealed these secrets to him.
Having read this summary, you will also learn what six secrets make people rich. The value of these secrets is that they don’t promise a miraculous and instant wealth accumulation but offer a very real strategic plan to become rich once and for all.
Ravi pressed further to know these laws of wealth. Nasir, who was at first reluctant to share his secrets because it remained the wealthy people’s code to conceal the keys to their fortune, was then moved by compassion for his dear friend, and he revealed these secrets to him.
Having read this summary, you will also learn what six secrets make people rich. The value of these secrets is that they don’t promise a miraculous and instant wealth accumulation but offer a very real strategic plan to become rich once and for all.
second key point
Keep a part of what you earn to yourself
Sitting down to drink some wine, two childhood friends engaged in a mutually beneficial conversation. Nasir started by telling Ravi how he learned wealth wisdom. In his younger years, Nasir worked as a scribe carving words into clay tablets. No matter how hard he worked, he still found it hard to make ends meet. One day, a rich money-lender named Arishaka came by his workshop with a large order. Instead of charging him double, Nasir offered to strike a bargain: he would carve everything requested by the following day, and, in return, Arishaka would tell him a secret about how he became rich.
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third key point
Have your money tree grow by making investments
fourth key point
To be successful, pay off your debts and don’t create new ones
fifth key point
Diversify your investment, don’t put all your money in one place
sixth key point
The end beneficiary of your investment is always yourself
seventh key point
Conclusion
What is The Richest Man in Babylon — Six Laws of Wealth about?
Who should read The Richest Man in Babylon — Six Laws of Wealth
Topics in The Richest Man in Babylon — Six Laws of Wealth
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