The Richest Man In Babylon
By
George S Clason
Chapter 2
The
Richest Man in Babylon
In
old Babylon there once lived a certain very rich man named Arkad. Far and wide
he was famed for his great wealth. Also was he famed for his liberality.
He
was generous in his charities. He was generous with his family. He was liberal
in his own expenses.
But
nevertheless each year his wealth increased more rapidly than he spent it.
And
there were certain friends of younger days
who
came to him and said: "You, Arkad, are more fortunate than we. You have
become the richest man in all Babylon while we struggle for existence. You can
wear the finest garments and you can enjoy the rarest foods, while we must be
content if we can clothe our families in raiment that is presentable and feed
them as best we can.
"Yet,
once we were equal. We studied under the same master. We played in the same
games. And in neither the studies nor the games did you outshine us. And in the
years since, you have been no more an honourable citizen than we.
"Nor
have you worked harder or more faithfully, insofar as we can judge. Why, then,
should a fickle fate single you out to enjoy all the good things of life and
ignore us who are equally deserving?"
Thereupon
Arkad remonstrated with them, saying, "If you have not acquired more than
a bare existence in the years since we were youths, it is because you either
have failed to learn the laws that govern the building of wealth, or else you
do not observe them.
"
'Fickle Fate' is a vicious goddess who brings no
permanent
good to anyone. On the contrary, she brings ruin to almost every man upon whom
she showers unearned gold. She makes wanton spenders, who soon dissipate all
they receive and are left beset by overwhelming appetites and desires they have
not
the
ability to gratify. Yet others whom she favours become misers and hoard their
wealth, fearing to spend what they have, knowing they do not possess the
ability to replace it. They further are beset by fear of robbers and doom
themselves to lives of emptiness
and
secret misery.
"Others
there probably are, who can take unearned gold and add to it and continue to be
happy and contented citizens. But so few are they, I know of them but by
hearsay. Think you of the men who have inherited sudden wealth, and see if
these things are not so."
His
friends admitted that of the men they knew
who
had inherited wealth these words were true, and they besought him to explain to
them how he had become possessed of so much prosperity, so he continued:
"In
my youth I looked about me and saw all the
good
things there were to bring happiness and contentment. And I realized that
wealth increased the potency of all these.
"Wealth
is a power. With wealth many things
are
possible.
"One
may ornament the home with the richest of furnishings.
"One
may sail the distant seas.
"One
may feast on the delicacies of far lands.
"One
may buy the ornaments of the gold worker and the stone polisher.
"One
may even build mighty temples for the gods.
"One
may do all these things and many others in which there is delight for the
senses and gratification for the soul.
"And,
when I realized all this, I decided to myself that I would claim my share of
the good things of life. I would not be one of those who stand afar off, enviously
watching others enjoy. I would not be content to clothe myself in the cheapest
raiment that looked respectable. I would not be satisfied-with the lot of a
poor man. On the contrary, I would make myself a guest at this banquet of good
things.
"Being,
as you know, the son of a humble merchant, one of a large family with no hope
of an inheritance, and not being endowed, as you have so frankly said, with
superior powers or wisdom, I decided that if I was to achieve what I desired,
time and study would be required.
"As
for time, all men have it in abundance. You,
each
of you, have let slip by sufficient time to have made yourselves wealthy. Yet,
you admit, you have nothing to show except your good families, of which you can
be justly proud.
"As
for study, did not our wise teacher teach us
that
learning was of two kinds: the one kind being the things we learned and knew,
and the other being the training that taught us how to find out what we did not
know?
"Therefore
did I decide to find out how one might accumulate wealth, and when I had found
out, to make this my task and do it well. For," is it not wise that we
should enjoy while we dwell in the brightness of the sunshine, for sorrows
enough shall descend upon us when we depart for the darkness of the world of
spirit?
"I
found employment as a scribe in the hall of
records,
and long hours each day I laboured upon the clay tablets. Week after week, and
month after month, I laboured, yet for my earnings I had naught to show. Food and
clothing and penance to the gods, and other things of which I could remember
not what, absorbed all my earnings. But my determination did not leave me.
"And
one day Algamish, the money lender, came to the house of the city master and
ordered a copy of the Ninth Law, and he said to me, 'I must have this in two
days, and if the task is done by that time, two coppers will I give to thee.'
"So
I laboured hard, but the law was long, and
when
Algamish returned the task was unfinished. He was angry, and had I been his
slave, he would have beaten me. But knowing the city master would not permit
him to injure me, I was unafraid, so I said to him, 'Algamish, you are a very
rich man. Tell me how I may also become rich, and all night I will carve upon
the clay, and when the sun rises it shall
be
completed.'
'He
smiled at me and replied, 'You are a forward knave, but we will call it a
bargain.'
"All
that night I carved, though my back pained
and
the smell of the wick made my head ache until my eyes could hardly see. But
when he returned at sunup, the tablets were complete.
"
'Now’ I said, 'tell me what you promised.'
"
'You have fulfilled your part of our bargain, my son,' he said to me kindly,
'and I am ready to fulfill mine, I will tell you these things you wish to know because
I am becoming an old man, and an old tongue loves to wag. And when youth comes
to age for advice he receives the wisdom of years. But too often does youth
think that age knows only the wisdom of days that are gone, and therefore
profits not.
But
remember this, the sun that shines today is the sun that shone when thy father
was born, and will still be shining when thy last grandchild shall pass into
the darkness.
"
'The thoughts of youth,' he continued, 'are bright lights that shine forth like
the meteors that oft make brilliant the sky, but the wisdom of age is like the fixed
stars that shine so unchanged that the sailor may depend upon them to steer his
course.
"
'Mark you well my words, for if you do not you will fail to grasp the truth
that I will tell you, and you will think that your night's work has been in
vain.'
"Then
he looked at me shrewdly from under his
shaggy
brows and said in a low, forceful tone, ‘I
found
the road to wealth when I decided that a part of all I earned was mine to keep.
And so will you.'
"Then
he continued to look at me with a glance
that
I could feel pierce me but said no more.
"
'Is that all?' I asked.
"
'That was sufficient to change the heart of a
sheep
herder into the heart of a money lender,' he replied.
"But
all I earn is mine to keep, is it not?' I
demanded.
"Far
from it,' he replied. 'Do you not pay the
garment-maker?
Do you not pay the sandal-maker?
Do
you not pay for the things you eat? Can you live in Babylon without spending?
What have you to show for your earnings of the past month? What for the past
year? Fool! You pay to everyone but yourself.
Dullard,
you labour for others. As well be a slave and work for what your master gives
you to eat and wear. If you did keep for yourself one-tenth of all you earn,
how much would you have in ten years?'
"My
knowledge of the numbers did not forsake
me,
and I answered, 'As much as I earn in one year.'
"
'You speak but half the truth' he retorted. 'Every gold piece you save is a
slave to work for you. Every copper it earns is its child that also can earn
for you.
If
you would become wealthy, then what you save must earn, and its children must
earn, that all may help to give to you the abundance you crave.
"
'You think I cheat you for your long night's
work,'
he continued,' but I am paying you a thousand times over if you have the
intelligence to grasp the truth I offer you.
"
'A part of all you earn is yours to keep. It should be not less than a tenth no
matter how little you earn. It can be as much more as you can afford.
Pay
yourself first.
Do
not buy from the clothes-maker and
the
sandal-maker more than you can pay out of the rest and still have enough for
food and charity and penance to the gods.
"
'Wealth, like a tree, grows from a tiny seed. The first copper you save is the
seed from which your tree of wealth
shall grow. The sooner you plant that seed the sooner shall the tree grow. And
the more faithfully you nourish and water that tree with consistent savings,
the sooner may you bask in contentment beneath its shade.'
"So
saying, he took his tablets and went away.
"I
thought much about what he had said to me,
and
it seemed reasonable. So I decided that I would try it. Each time I was paid I
took one from each ten pieces of copper and hid it away. And strange as it may
seem, I was no shorter of funds than before. I noticed little difference as I
managed to get along without it. But often I was tempted, as my hoard began to
grow, to spend it for some of the good things the merchants displayed, brought
by camels
and
ships from the land of the Phoenicians. But I wisely refrained.
"A
twelfth month after Algamish had gone he
again
returned and said to me, 'Son, have you paid to yourself not less than
one-tenth of all you have earned for the past year?'
"I
answered proudly, 'Yes, master, I have.'
'"That
is good/ he answered beaming upon me,
'and
what have you done with it?'
"
'I have given it to Azmur, the brick maker, who told me he was travelling over
the far seas and in Tyre he would buy
for me the rare jewels of the Phoenicians. When he returns we shall sell these
at high prices and divide the earnings.'
"
'Every fool must learn,' he growled, 'but why
trust
the knowledge of a brick maker about jewels?
Would
you go to the bread maker to inquire about the stars? No, by my tunic, you
would go to the astrologer, if you had power to think. Your savings are gone,
youth; you have jerked your wealth-tree up by the roots. But plant another. Try
again. And next time if you would have advice about jewels, go to the jewel
merchant. If you would know the truth
about
sheep, go to the herdsman. Advice is one thing that is freely given away, but
watch that you take only what is worth having. He who takes advice about his
savings from one who is inexperienced in such matters, shall pay with his
savings for .proving the falsity of their opinions.' Saying this, he went away.
"And
it was as he said. For the Phoenicians are
scoundrels
and sold to Azmur worthless bits of glass that looked like gems. But as
Algamish had bid me, I again saved each tenth copper, for I now had formed the
habit and it was no longer difficult.
"Again,
twelve months later, Algamish came to the room of the scribes and addressed me.
'What progress have you made since last I saw you?'
"
'I have paid myself faithfully/ I replied, 'and my savings I have entrusted to
Aggar the shield maker, to buy bronze, and each fourth month he does pay me the
rental.'
"'That
is good. And what do you do with the
rental?'
"
'I do have a great feast with honey and fine wine and spiced cake. Also I have
bought me a scarlet tunic. And some day I shall buy me a young ass upon which
to ride.'
"To
which Algamish laughed, 'You do eat the children of your savings. Then how do
you expect them to work for you? And how can they have children that will also
work for you? First get thee an army of golden slaves and then many a rich
banquet may you enjoy without regret/ So saying he again went
away.
"Nor
did I again see him for two years, when he
once
more returned and his face was full of deep lines and his eyes drooped, for he
was becoming a very old man And he said to me, 'Arkad, hast thou yet achieved
the wealth thou dreamed of?'
"And
I answered, 'Not yet all that I desire, but
some
I have and it earns more, and its earnings
earn
more'
"
'And do you still take the advice of brick makers?'
"
'About brick making they give good advice,' I
retorted.
'"Arkad,'
he continued, 'you have learned your
lessons
well.
You
first learned to live upon less than
you
could earn. Next you learned to seek advice from those who were competent
through their own experiences to give it.
And,
lastly, you have learned to make gold work for you.
"
'You have taught yourself how to acquire money,
how
to keep it and how to use it.
Therefore,
you are competent for a responsible position.' I am becoming an old man. My
sons think only of spending and give no thought to earning. My interests are
great and I fear too much for me to look after. If you will go to Nippur and
look after my lands there, I shall
make
you my partner and you shall share in my
estate.'
"So
I went to Nippur and took charge of his holdings, which were large. And because
I was full of ambition and because I had mastered the three laws of
successfully handling wealth, I was enabled to increase greatly the value of
his properties. So I prospered much, and when the spirit of Algamish departed
for the sphere of darkness, I did share in his estate as he had arranged under
the law."
So
spake Arkad, and when he had finished his tale, one of his friends said,
"You were indeed fortunate that Algamish made of you an heir."
"Fortunate
only in that I had the desire to prosper before I first met him. For four years
did I not prove my definiteness of purpose by keeping one-tenth of all I
earned? Would you call a fisherman lucky who for years so studied the habits of
the fish that with each changing wind he could cast his nets about them?
Opportunity is a haughty goddess who wastes
no
time with those who are unprepared."
"You
had strong willpower to keep on after you
lost
your first year's savings. You are unusual in that way," spoke up another.
"Willpower!"
retorted Arkad. "What nonsense. Do you think willpower gives a man the strength to lift a burden the camel cannot
carry, or to draw a load the oxen cannot budge? Will power is but the
unflinching
purpose
to carry a task you set for yourself
to
fulfillment. If I set for myself a task, be it ever so trifling, I shall see it
through. How else shall I have confidence in myself to do important things?
Should I say to myself, 'For a hundred days as I walk across the bridge into
the city, I will pick from the road a pebble and cast it into the stream/ I would
do it If on the seventh day I passed by without remembering,
I
would not say to myself, 'Tomorrow I will cast
two
pebbles which will do as well/ Instead, I would retrace my steps and cast the
pebble. Nor on the twentieth day would I say to myself, 'Arkad, this is useless.
What does it avail you to cast a pebble every day? Throw in a handful and be
done with it.' No, I would not say that nor do it. When I set a task for myself,
I complete it. Therefore, I am careful not to
start
difficult and impractical tasks, because I love leisure."
And
then another friend spoke up and said, "If
what
you tell is true, and it does seem as you have said, reasonable, then being so
simple, if all men did it, there would not be enough wealth to go around."
"Wealth
grows wherever men exert energy,”
Arkad
replied. "If a rich man builds him a new palace, is the gold he pays out
gone? No, the brickmaker has part of it and the labourer has part of it and the
artist has part of it. And everyone who labours upon the house has part of it.
Yet when the palace is completed, is it not worm all it cost? And is the ground
upon which it stands not worth more because it is
there?
And is the ground that adjoins it not worm more because it is mere? Wealth
grows in magic ways. No man can prophesy the limit of it. Have not the
Phoenicians built great cities on barren coasts with the wealth that comes from
their ships of commerce on the seas?"
"What
then do you advise us to do that we also
may
become rich?" asked still another of his friends.
"The
years have passed and we are no longer young men and were have nothing put
by."
"I
advise that you take the wisdom of Algamish
and
say to yourselves, 'A part of all I earn is mine to keep.' Say it in the
morning when you first arise. Say it at noon. Say it at night. Say it each hour
of every day. Say it to yourself until the words stand out like letters of fire
across the sky.
"Impress
yourself with the idea. Fill yourself with the thought Then take whatever
portion seems wise.
Let
it be not less than one-tenth and lay it by. Arrange your other expenditures to
do this if necessary.
But
lay by that portion first. Soon you will realize what a rich feeling it is to
own a treasure upon which you alone have claim. As it grows it will stimulate you.
A new joy of life will thrill you. Greater efforts will come to you to earn
more. For of your increased earnings, will not the same percentage be also
yours to keep?
"Then
learn to make your treasure work for you.
Make
it your slave. Make its children and its children's children work for you.
"Insure
an income for thy future. Look thou at the aged and forget not that in the days
to come thou also will be numbered among them. Therefore invest thy treasure
with greatest caution that it be not lost.
Usurious
rates of return are deceitful sirens that sing but to lure the unwary upon the
rocks of loss and remorse.
"Provide
also that thy family may not want should the gods call thee to their realms.
For such protection it is always possible to make provision with small payments
at regular intervals. Therefore the provident man delays not in expectation of
a large sum becoming available for such a wise purpose.
"Counsel
with wise men. Seek the advice of men whose daily work is handling money. Let
them save you from such an error as I myself made in entrusting my money to the
judgment of Azmur, the brickmaker. A small return and a safe one is far more desirable
than risk.
"Enjoy
life while you are here. Do not overstrain or try to save too much. If
one-tenth of all you earn is as much as you can comfortably keep, be content to
keep this portion. Live otherwise according to your income and let not yourself
get niggardly and
afraid
to spend. Life is good and life is rich with
things
worthwhile and things to enjoy."
His
friends thanked him and went away. Some
were
silent because they had no imagination and could not understand. Some were
sarcastic because they thought that one so rich should divide with old friends
not so fortunate. But some had in their eyes a new light. They realized that
Algamish had come back each time to the room of the scribes because he
was
watching a man work his way out of darkness into light. When that man had found
the light; a place awaited him. No one could fill that place until he had for
himself worked out his own understanding, until he was ready for opportunity.
These
latter were the ones, who, in the following years, frequently revisited Arkad,
who received them gladly. He counseled with them and gave them freely of his
wisdom as men of broad experience are always glad to do. And he assisted them
in so investing their savings that it would bring in a good interest with safety
and would neither be lost nor entangled in
investments
that paid no dividends.
The
turning point in these men's lives came upon that day when they realized the
truth that had come from Algamish to Arkad and from Arkad to them.
A
PART OF ALL YOU EARN
Is
YOURS TO KEEP
A part of all i earn is mine to keep.say it aloud every minute,second , hour.pay me first.pay me one tenth of all i earn.learn to make your treasure work for you.insure your income for the future. Invest thy treasure with great caution
ReplyDeleteFrom dr uzoma chidi okereke,an additional thiughts from my comments on june 30 2020,9:33am.
DeleteA part of all i earn is mine to keep.i will say it aloud morning,afternoon and night.
I will pay me first.
I will save a tenth of my income every month
I will consistently seek advice from those who are competent through their experience to give it.
I will make gold work for me
Great summary here
DeleteWell done
Franklin Anor
DeleteArkad summarised the secret of getting rich by laying the principles thus:
1. Pay your self atleast a tenth of what you earn monthly.
2. Invest this earnings in a low risk ventures and be sure seek counsel from wise individuals who have gone through that path before you venture into it.
3. Once you start earning from your venture, you must invest your profits wisely rather than feasting on them.
Franklin Anor.
Awesomely awesome. I am trapped already. It seems like a ritual already, "The richest man in Babylon".
ReplyDeleteThese Algamish is a blessing, selfless and a propagator of wealth.
The three ways to wealth;
Save at a convenience and consistently.
Create wealth by causing an army of workers to continue to work for you through engagement.
Stay around men who deal with money and ideas everyday.
Ihejirika.
Certainly and surely uplifting
DeleteBe around men who have made great wealth, learn from them, save as much as you can but not to the extent of not living. Employ specialist who by experience know, and make your money work for you.
ReplyDeleteDr. Nkire C. J
Great points
DeleteInya Inya Uma
ReplyDeleteSummarily, It is important to be purposeful first. Knowing what one wants help in giving him clear direction. It is important for one not only to study to learn and know but study to learn how to make wealth. The road to permanent wealth goes with principles like seeking advice from the right people, paying yourself etc. There is no joy in shortcuts. Plant your seed of wealth no matter how little, water it to bring forth children and allow the children to grow and also bear fruits. Do not forsake your family and charity.
What a great read. When light comes; darkness disappears.
ReplyDeleteLive upon less than you could earn.
Seek advice from those who were competent through their own experiences to give it.
Learn to make your wealth (gold) work for you.
The pathway to wealth
DeleteSucceeding in life is beyond formal education (what one was taught in class by teachers), rather personal research, discovery and personal development is inevitable to excel in life.
ReplyDeletePrinciples govern everything including wealth creation, therefore be willing to pay any sacrifice for what you want in life.
The principle of wealth accumulation is make money, save money (by keeping a part of what you earn), invest your savings wisely, re-invest the dividends of your investments and keep the cycle going.
Yinka Okoh
Schools do not teach wealth building even to students of finance and banking
DeleteLive upon less than you could earn.
ReplyDeleteSeek advice from those who were competent through their own experiences to give it.
Learn to make your wealth (gold) work for you.
1.Learning and observing the laws that govern the building of wealth is the pathway to enduring riches.
ReplyDelete2.Those who gratify overwhelming appetites and desires cannot be rich.
3.Dissatisfaction about ones' poor state is the beginning of the journey to becoming wealthy.
1.Learning and observing the laws that govern the building of wealth is the pathway to enduring riches.
ReplyDelete2.Those with overwhelming apetites and desires without ability to gratify them cannot be rich.
3.Dissatisfaction about ones' poor state is the beginning of the journey to becoming wealthy.
*Chapter 2*
ReplyDeleteDecide to achieve what you desire, Time and study will be required to achieve what you desire
If you would become wealthy, learn to pay yourself and what you save must earn, and its children must earn, that all may help to give to you the abundance you crave.
learn to live upon less than you could earn and seek advice from those who were competent through their own experiences to give it.
Jombo Promise
not just desire but OBSESSIVE DESIRE would get anyone what he wants to get
DeleteTo become wealthy, what I save must work for me to increase my wealth. It is not just enough to save; I must learn to invest! In addition, I should seek for counsel from those who have demonstrated knowledge in what they proffer to know.
ReplyDeleteDr Iliyasu Ahmed
Sagir Muhammad.
ReplyDeleteArkad tells his friends about the pieces of advice he received from Algamish which he acted upon. These are the three laws of wealth. Keep a tenth of what you earn, learn how to make your gold work for you, and enjoy life while taking care of your family.
Real wealth comes when through consistent saving and disciplined investment practice you have earned enough passive income that can take care of all your expenses even if you decide not to work a single day again for the rest of your life.
ReplyDeleteLESSONS
1. You can be under the same teacher; be exposed to the same instruction but produce different results . The difference can be traced to the understanding levels and application.
2. Hard work and academic excellence di not guarantee that you would be wealthy.
3 . Wealth not truly earned easily disappear but WEALTH built little by little through diligent labour tends to last
Thank you
AYO AROWOLO
A part of all I earn is mine....not to squander but to save and invest..but before investing you must consult wise experts ...
ReplyDeleteDR. DENNIS EKWEDIKE : Awesome,awesome,awesome...l would make myself a guest at this banquet of good things. Good decisions followed by wise actions gives greater dividend. A man that sets for himself a task and sees it through shall have no rivals.
ReplyDeleteA part of all i earn is mine to keep ..and the three keys of success are through savings, asking for advice from the wise or councelling on how to use the money and lastly" making your money work for you plus it's children" thank you
ReplyDeleteWhen you set a target make sure to put effort to achieve it. Resist the temptations that come along the way and resist the urge to give up because when you complete the task it will benefit you.
ReplyDeleteIt is good to listen attentively to someone who is giving advice because it will come a long way in your life to help you
Nduanya Oluebube
The secret of wealth creation is to
ReplyDelete1) learn to earn money.
2) learn to keep/save money by paying oneself 10% of my earnings and doing it consistently.
3) let the savings earn more money (children) and grandchildren through viable and realistic investment.
4) let the wealth last enough to take care of ones old age and family after one is gone.
Always live on less than you earn...
ReplyDeleteSeek for wise counsel from those with experience before investing
Delay gratification and make money work for you
Aliyu Chapa
1. Save not below one-tenth of your income and be consistent with it. Let your "Gold" work for you (Grand children of your money).
ReplyDelete2. Seek the counsel of experienced and successful person(s) in the field you're about to delve in.
3. Wealth works in magic ways. You never can tell its limit as long as you have proper management of it.
1. A part of all I earned was mine to keep and it should not be less than one tenth no matter how little I earn.
ReplyDelete2. Advice is one thing that is freely given away, but watch that you take only what is worth having and from the right people.
3. You learn to make money work for you by reinvesting back what you have.
Chukwuebuka Asadu
The one tenth of my earning is mine.
ReplyDeleteSaving is expected to be to one's convenience as much as it is not weighing you down. (Don't save too much if it's not convenient for you).
Once you harvest your investments, make sure to reinvest. "Make the children of your children work work you"...
Don't create an impossible plan and do not be.
ReplyDeleteMake your treasure work for you make it your slave, its children, children.
Invest with caution and with advise.