Mar 14, 2019
One of the most powerful books that inspires us in what we do is The Richest Man in Babylon by George Samuel Clason. What lessons does the book teach us, and how can we apply them in our finances and our lives in general?
On this episode, I’m joined by a very special co-host, my colleague Steve Scollard, and we share on why this book is such a game changer.
Your money has a value and a cost, and treating it as though it doesn’t violates economic value added. -Jim Oliver
Three Things We Learned From This Episode
The importance of discipline
We all have desires and things we want, but desire is the enemy of discipline. If you can delay your gratification, you’ll get more in the end and that will help your money grow and multiply.
Pick your financial advisors wisely
Stick to what you know. Why would you let a salesperson tell you how to be wealthy when you've already built your wealth through your business or a skill?
Why a 401k isn’t going to ensure a future income
“Ensure a future income, provide an advance for the needs of your growing age and protection of your family.” This doesn’t mean a 401k or the stock market, because that doesn’t ensure anything. In fact, the only guarantee you have is there’s no control.
Every great book ever written about money is
about breaking away from the herd, and that’s for a good reason.
Nothing good happens with our finances when we do what everyone
else is doing. It’s all about owning your home, your banking
function, and ultimately your future. You do this by putting money
aside, letting that money grow and growing your own capacity to
earn more.