THE RICHEST MAN IN BABYLON SUMMARY (BY GEORGE S CLASON)

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This is a top 5 takeaways video of The Richest Man in Babylon, a classic on financial common sense, written by George S. Clason.

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Top 5 Takeaways from The Richest Man in Babylon:
0:00 Intro
0:13 1. Pay Yourself First
1:28 2. Men of Action are Favoured by the Goddess of Luck
3:00 3. Wealth is NOT a Matter of Income
4:52 4. Act When the Time is Right
5:34 5. The Power of PASSIVE Income

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To sum it all up: Takeaway number one is to pay yourself first. Takeaway number two is that men of action are more likely to be “lucky” in the long run. Number three is that wealth is a function where expenses is the most important factor, not income. The fourth advice from the book is to take action when the time is right and takeaway number five is the power of passive and exponential income.

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My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there – investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties – I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process – upgrading your money-making toolbox.

[bellamckinnon]

Got this book as a gift for my 10th birthday. I didn't get it then, but have made sure to read it at least once a year every year after I turned 13. I am 16 now and have read this book 4 times, on my fifth read now. It is my favourite book and I see now how immensely lucky I am that my relative saw the importance of me understanding money as young as 10. Really, truly a timeless story. Thank you for the video.

[RavnerRavner]

"pay yourself first" has a much more profound meaning than simply taking a small amount of money and putting it aside. you are not supposed to just put it aside. there is more to it than that. you are supposed to put it aside, but then put that money to work, and keep doing it consistently for the rest of your life.

[robwashington-personalfina]

The single book that changed my entire life. I was a single Sailor living the bachelor life 4-5 years ago, and I was stacking liabilities. My networth was negative$20k...however, after reading this book I decided to change my spending and now my net worth is over $300k.
Great book!

[sakiv]

This book is the foundation course of my Life. I made enough money after reading this. Thanks for sharing.

[JosePerez-nwef]

I have been paying myself first for 10 years, and now have $ 230, 000 and still growing and multiplying. Compound interest

[ricky]

A lot of valuable information shared in this presentation.
1. The doer or the people who take action are the ones most likely to be successful
2. It always good to act when the time is right and figure out a way to let your money work for you.

[michaelhofby]

Thank you bro! I pay myself almost all i earn - tired of giving others MY money..

[theinvestingcollegeinvesti]

Love the content about matter of LUCK, both winner and loser have the same opportunities. Winner wins because they are taking actions constantly and are prepared when opportunities come, losers only start working when they see the chance. That makes all the differences

[george]

I wasted 40 minutes of my life listening to the audio book, guessed what it was about, then sought your summary for confirmation. Thanks Swedish Investor for your summary.

[Caribbeanmel]

I could not put this book down. Just finished it last night and looking forward to reading it again. Absolutely one of my new favorites.

[ammubharatram]

5:30 5. Power of Passive income - powerful idea. This is exactly what got me to investing. Thinking like a programmer, I just wanted to automate income. It's a legal slave! Great description there Swedish investor!

[owenkellogg]

Income is more important than expenses. You can reduce your expenses to a point, but there is no limit on how much you can earn. Thanks for the summary, I may have just saved myself a lot of time reading a book that I don't believe in.

[akoaywaladito]

I first incounter this book as audio book sometime in 2016. I listen to it for about 6times now. I'm still excited whenever I play it. It's you are actually there. Your imagination takes you. A highly recommended book.
Makes your pocket fat than ever before.
Thanks TSI.

[deepmaniya]

LEARNNG POINTS
1) YOU SHOULD SAVE FIRST FOR YOURSELF BEFORE SPENDING EVERYTHING
2) WITHOUT AFFRAID TAKE A CHANCE OPPORTUNITY WHENEVER YOU GET AND PUT YOUR ALL EFFECT TO TAKE ADVANTAGES

[Kresto]

I like the fact that you almost exclusively use swedish companies, people etc when describing the concepts. Cheers from Norway.

[drew]

A fantastic summary. You are very talented at summarising complex areas in easy to understand terms. Thank you for creating and sharing this.

[patrickryan]

Granted I'm not the brightest bulb in the chandelier, but somehow I've adhered to all of the above and have retired comfortably and without a single debt; and I have money earning money. However, along the way I have been more than generous to others and extravagant toward myself at times (on and off only). I guess my greatest talent is instinct and discipline to reinforce what instinct dictates. Anyone could learn a lot from this short video -- but don't forget to incorporate discipline into your financial journey. And a little fear (of being without) doesn't hurt either. 5/2019

[sonalynsantos]

I will keep on my mind that paying yourself first is very important.. it is how we save money.

[WFOFW]

The evolution of this channel is amazing. How the quality of the audio developed.

[christianosisiogu]

The Richest Man in Babylon by George S Clarson remains the best financial discipline work book.