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The Richest Man in Babylon
Investment Lessons from Babylon
- The 7 Cures for a Lean Purse *
- Start thy Purse to Fattening
- Save at least 10% of what you earn and your purse will start to fatten
- A penny saved is a penny earned
- Pay yourself first is the most important bill you will pay each month
- Control thy Expenditures
- Control your expenses with a budget
- We all tend to live according to whatever income we earn, unless we protest to the contrary
- Look closely at your cost of borrowing!
- Make thy Gold Multiply
- Wealth creation is not about coins carried in the purse, but the golden stream of annuity income that flows from the purse
- Remember the Power of Compounding!
- Guard thy Treasures from Loss
- Seek safety first / security of principal
- Invest only with investment professionals
- Beware of suretyship
- If a scheme / interest rate seems too good to be true, it probably is
- Beware of pyramid schemes / gambling
- Make of thy Dwelling a Profitable Investment
- Own your home
- It is a well established fact of life that on average home owners have higher net worth's than renters
- Never spend more than 1/3 of your income on your mortgage
- Insure a Future Income
- Provide for the protection of your family, your health and your old age through Life Assurance and Retirement Planning
- Research has shown that less than 10% of people plan adequately for retirement - why?
- Increase thy Ability to Earn
- As you enhance your skills and wisdom, so will you increase your ability to earn ("Learn before you earn")
- Your career is your # 1 asset
- Get a mentor / hero!
- Warren Buffet
- John Templeton
- Benjamin Graham
- Anton Rupert
* Source: The Richest Man in Babylon - George S. Clason
Newsroom: Investment Presentations and Seminars
01-05-2008
