Wednesday, September 30, 2009

Chapter 5- The Five Laws of Gold

We are half way through the book! Are you enjoying it so far? Ready to dive into Chapter 5?

For those of you who are new to this blog we are reading The Richest Man in Babylon right now. You are welcome to join in and start reading the book. Below is a link to the book:




Characters:

Kalabab- storyteller, tells of the story between Arkad, the wise rich man and his son Nomasir

Main Points:

The 5 laws of gold:

1. Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family.

2. Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.

3. Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling.

4. Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep.

5. Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment.

Quotes:

"Gold is reserved for those who know its laws and abide by them." page 59

"Our wise acts accompany us through life to please us and to help us. Just as surely, our unwise acts follow us to plague and torment us. Alas, they cannot be forgotten. In the front rank of the torments that do follow us are the memories of the things we should have done, of the opportunities which came to us and we took not." page 73

Take Home Points:

Arkad wanted to make sure that Nomasir knew how and understood the handling of money.

If you don't know how to handle money than any amount of money will be spent or wasted.

His father gave him a test to make him experienced with the handling and care of money.

Do you want to become more experienced with money? Do you feel more confident now that you are learning these money rules?

Best wishes,

Janie

4 comments:

  1. awesome book

    glad you are helping so many people

    ReplyDelete
  2. Thank you anonymous your comment is so thoughtful.

    ReplyDelete
  3. That #5 chasing impossible investments is some strong point, that is for sure.

    ReplyDelete
  4. John,

    I agree that #5 is a strong point.

    Best wishes,

    Janie

    ReplyDelete

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