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The Richest Man in Babylon for Today: New Secrets for Building Wealth in the 21st Century
Author: Fred Siegel, RFC
Nearly every financial consultant knows of the classic book "The Richest Man in Babylon."1 The book, as it appears today, is actually a compilation of several short-stories written by George Clason in the early part of the 20th Century. The book tells the story of an impoverished man in search of wealth and security. The young man goes to see the richest person he knows of, who happens to live in Babylon. Over the course of several years the young man learns the seven principles of wealth:
1. Start thy purse to fattening
2. Control thy expenditures
3. Make thy gold multiply
4. Guard thy treasures from loss
5. Make of thy dwelling a profitable investment
6. Insure a future income
7. Increase thy ability to earn
After learning and applying these principles the young man is able to accumulate wealth.
When Clason compiled his short stories into a book he met with limited success. The title of the book was originally "Gold Ahead." Financially, the book was a failure. This did not deter Clason. He continued to work on the book and retitled it "The Richest Man in Babylon" in 1955. Since that time the book has been a perennial best seller in the personal finance marketplace.
So, why does the world need an updated version of "The Richest Man in Babylon?" Fred Siegel, the author of "The Richest Man in Babylon for Today" answers this question in his introduction to the book:
"When I've talked with people about the original Richest Man in Babylon, they've remembered it fondly for its inspiration. However, few read past the first couple of chapters because the language and setting of ancient Babylon is more distracting than helpful in...