This article is about the book by George Samuel Clason. Unsourced material may be challenged and removed. If you desire to help thy friend, do so in a way that will not bring thy friend’s burdens richest man of babylon pdf thyself.
Bansir and Kobbi meet with Arkad, asking him why fate has favored him so much that Arkad has grown rich while they remain poor, even though they’ve worked harder than Arkad has. Algamish, for the secret to wealth in return for a much needed copy of a law immediately scribed into clay. The rich man agreed and the next day, when Arkad delivered the carving, the rich man delivered in return the secret of wealth. I earned was mine to keep. Arkad then relates that he asked the same question that is undoubtedly on Bansir and Kobbi’s minds, “Isn’t all that I make mine to keep? Algamish then said no, that a man had to pay for his clothes, for his food, etc. Arkad relates that he did as advised, saving a tenth of his income for a year, then investing that money with a brickmaker who went on a journey to buy jewels to trade.
He related this to Algamish, who castigated Arkad for this foolishness. Every fool must learn,” he said, “But why trust the knowledge of a brickmaker about jewels? Would you go to the breadmaker to inquire about the stars? Algamish then said, “He who takes advice about his savings from one who is inexperienced in such matters, will pay with his savings for proving the falsity of their opinions. Agger paid Arkad rent for the use of these funds.
Arkad spent these dividends on fine clothing and regularly scheduled feasts. Algamish comments that Arkad is “eating the children of his savings” by not investing them. By continuing to save and invest wisely, Arkad relates that he became the wealthy man that he is now. King of Babylon, is told by his Royal Chancellor that the kingdom is poor. There are not enough jobs for everyone, people don’t have enough money to buy what they want to buy, and farmers can’t make enough selling their produce to continue farming. All of the gold has found its way into the possession of a few very rich men of Babylon. The King asks why so few men would be able to acquire all of the gold and the Chancellor says because they know how to, that one may not condemn a man for succeeding because he knows how, neither may one with justice take away from a man what he has fairly earned, to give to men of less ability.
But why, the King demands to know, should not all the people learn how to accumulate gold and therefore become themselves rich and prosperous? After further consultation with the Chancellor, the King summons Arkad to teach people how to become wealthy. Arkad instructs the men to begin by continuing to work hard at their current occupations, but for every ten coins placed in their purse to take out for use but nine. Their purses will start to fatten at once and their increasing weight will feel good in their hands and bring satisfaction to their souls. Deride not what I say because of its simplicity,” Arkad says, “Truth is always simple. How,” some of the men ask, “Can a man keep one-tenth of all he earns in his purse when all the coins he earns are not enough for his necessary expenditures?
How many of you have lean purses,” Arkad asks. All of the men say that they have lean purses, that they have no money. Yet,” Arkad responds, “Thou do not all earn the same. Some earn much more than others. Some have much larger families to support. Yet, all purses are equally lean. Now I will tell them an unusual truth about men and the sons of men.
It is this: That what each of us calls our necessary expenses’ will always grow to equal our incomes unless we protest to the contrary. Arkad tells the men not to confuse necessary expenses with their desires, that all men are burdened with more desires than they can gratify. Budget thy expenses that thou mayest have coins to pay for thy necessities, to pay for thy enjoyments and to gratify thy worthwhile desires without spending more than nine-tenths of thy earnings. This simply explained that, once you’ve started saving at least one-tenth of what you earn, you must put that money to work earning interest. Put each coin to laboring that it may reproduce its kind even as the flocks of the field and help bring to the income, a stream of wealth that shall flow constantly into thy purse.
Everyone is tempted,” Arkad relates, “By opportunities whereby it would seem that a man could make large sums by investing his money in most plausible projects. Often friends and relatives are eagerly entering such investment and urge him to follow. Arkad relates again his decision to invest his money with a brickmaker who was going to buy jewels to trade. Guard thy treasure from loss by investing only where thy principal is safe, where it may be reclaimed if desirable, and where thou will not fail to collect a fair rental.
Secure the advice of those experienced in the profitable handling of gold. Let their wisdom protect thy treasure from unsafe investments. This is very important for those that aim high in reality. Arkad instructs the class to prepare for retirement and to buy insurance so that their family will be provided for if they die. No man can afford not to insure a treasure for his old age and the protection of his family, no matter how prosperous his business and his investments may be. Provide in advance for the needs of thy growing age and the protection of thy family.