THE RICHEST MAN IN BABYLON SUMMARY (BY GEORGE S CLASON)
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- Опубліковано 19 чер 2024
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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.
A playlist of books that will help you to reach your financial freedom goals faster: bit.ly/38Z6I0Y
I got my dick sucked already this morning so i consider that action and winning
@@mitchellwood3576 lol lol lol
👍
Hi, can you please summarize 'stock market cash flow' by ANDY TANNER from richdad company
Although I agree that action may be more successful in the long-run.....Sometimes I'm too lazy and tired.
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.
Thanks for your comment. I have something real big I would love to introduce you to..let me know if you are interested
@@dutchsinse6523 scammer
The person who commented is a scammer. Don't get trapped. Ignore.
So awesome that you have read the book so many times!
@@TheSUPERHAPPY1 Yeah, haha, thought it was a bit odd. Didn't reply after that.
Thanks for that! It really is such a wonderful little book; it helps that it's so short and to-the-point. Easy to digest and re-read indeed. All the best!
You will be a rich fart by the time you're 25 if you follow the Book.
"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.
Definitely
I read the book i though he mention pay ur self first then build on it and discipline urself to not spend it.
Yeah he mention it at the 5th point
Hey say what it really is so people can understand what you're trying to say there's those of us that wouldn't get it
Easier said than done, how do you put money to work? If it's by opening a business, it is not that easy
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!
How about you marry 4 wives and multiply yourself
Thanks for your comment. I have something real big I would love to introduce you to..let me know if you are interested
Hi Rob can you help how to start brother.
This is an awesome build, there is a place for learning, and there is a place for action after learning. You definitely applied what you learned, hence the +ve result. God bless you sailor. May we all have the grace to apply our new knowledge per time.
@@joehouston2833 goated comment
This book is the foundation course of my Life. I made enough money after reading this. Thanks for sharing.
Awesome! I love it too. Very very inspiring.
Very good
I am my own problem, i procrastinate all the time
💪💪💪💪
@@TsarOfRuss for me the key take away was in the last chapter, where he teaches us to love to work, make work your best friend. That is the key to impressing others, as well as getting promotions, which will help you to save and invest more.
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.
Nice points
Thank you bro! I pay myself almost all i earn - tired of giving others MY money..
I rent out a room in my apartment so that they pay for my rent . And its even a quite hot chick so i dont even mind it
Thats sick broh
@@michaelhofby Lucky guy 😁
I’m with you.
@The Swedish Investor yeah why not bro. Share it
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
I love your analogy. It is quite true
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.
me too ! going to be my bible from now one hehe - recommend reading it a few times so it really sinks in. Don't you just love how it's a story?? x
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!
I have been paying myself first for 10 years, and now have $ 230,000 and still growing and multiplying. Compound interest
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.
Mark I totally agree. The storytelling of George Clason is definitely getting you pumped up about getting started with the concepts - such as "pay yourself first".
I've only gone through it twice though, which pales in comparison to your 6 times haha.
This book has magick in it !
This is a great video, compressing the book into top tips in 7 minutes is a fantastic method to learn from this book. Thank you
I like the fact that you almost exclusively use swedish companies, people etc when describing the concepts. Cheers from Norway.
I honestly love your videos! You really have the power to keep us interning while learning few tips. Keep your project running my friend. Already shared your videos to a few friend 🇬🇧🇧🇷
A fantastic summary. You are very talented at summarising complex areas in easy to understand terms. Thank you for creating and sharing this.
This book changes my life
Great summary of what is a game-changing book! 🙏
The evolution of this channel is amazing. How the quality of the audio developed.
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
patrick ryan I really like this comment, thanks for sharing 😁 This book can turn some people with the right mindset into millionaires, but others won't make a dime from it. Definitely boils down to discipline, as you say.
@@TheSwedishInvestor Thank you!
@avocaaa choo Thank you!
I've seen many of your videos. Excellent content!! Congrats!!
This is so good, thank you for sharing these summary
This video really helps a lot. Thanks for sharing
Really impressive.. Got a lot to learn.. And must mention an amazing guidance for all of us who are just to begin their careers... Thanks
Thank you for this video!!!
That was HILARIOUS and highly educational!!!!
thanks, great summary, as someone who read rich dad poor dad, Id def say law 1 2 4 and 5 were also mentioned there in other ways.
Great book for sure, if you havent read other basic financial books.
Have a good one
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
Thanks! I was going to get this from Audible and I will still do, but it’s great to get a summary.
This video also helped me out by ideas of improving my personal finance , making money , teaching me how to spend money, invest money. This video also taught me the ideas of making passive income and earn income from the save money.
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.
Read it in 2015 ... So simple and life changing.
Very simple and enjoyable explaination! The Swedish references are awesome too!
Glad that you liked it! The goal with this channel is to tech investing and personal finance in a simple, enjoyable and profitable way so that's great!
Too on point.. word for word 😂🤣😂🤣🤣😂 thank you for the work you put into this... 👍
Heeey, thank a lot for your support man! I will provide you with more videos like this one every week 👍
Amazing video, keep up the awesome content!
This is great! Take my subscription.
I appreciate it, glad that you liked it!
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.
i learned a lot from your channel. thank you. :-)
Hey Latigo! I'm very glad to hear that! I hope that you'll be able to learn much more here in the future as well 👍 Thank you for your support!
Just found your channel is really good 🌟 going to watch all your videos 👏🏾
Love it! Thank you.
I will keep on my mind that paying yourself first is very important.. it is how we save money.
Just subbed! Can't wait to dig into other videos
so as said before. nice summary of what i remember of that book. take my subscription
:D
Biggest incentive to save and have extra income is you gain the power to tell that manager or coworkers who want to give you ulcers: "F-U"
One of my favourite books!
Mine as well! Entertaining and concise 👍
He's right about Ikea furniture.its better in the box .that shit will fall apart like
perfect as always
This is a great vid and very informative..Loved it..
Great content. Thank you!
I've ordered it, can't wait to read this books.
Nice! Hope you enjoy it!
Great video! Awesome learning. We should always save.
Thank you sir for sharing this 👍
I will be watching all of his videos! 🎉
That was a great summary of the book
Paying yourself first is a lesson to master.
I like what u said about money never sleeps because that is real. Salary man is the product of money while money is the product of a wise money handler(businessmen). The 5 laws of gold.
You are smart, talented and have a good sense of humor, keep it up man
THIS BOOK IS LIFE-CHANGING!
Thanks for the video.
Starting with you first video and going true all of them now👍 thank you for sharing, and I hope you passive income from you youtube videos is higher then mine 😄
The Richest Man in Babylon by George S Clarson remains the best financial discipline work book.
Very motivating!
🙌
Great video thanks man ❤️
From all the learning best one is that even right decision taken at wrong time or after time is worthless. We should male ourselves smart enough to take quick and immediate calculative decisions...
great video, super simple and fast, how did you make it? I love the animation and I was thinking that perhaps I also could make one on another subject :-)
Life changing book
Isn’t it funny that I’m doing the exact pose like the procastinator at 2:18 while watching this video? Haha
Jajajaja I’m learning so much about FL. It’s taking me time to understand all of these concept but eventually I will get it
thank you ..done!
You Got It Boss Hoss!
Man, what a great channel...! Great work!!!
Can you do a video about "Human Action" of Ludwig von Mises
? It would be awesome!!!
José, thank you very much! Wow that's a challenging one ... You'll have to vote for it in the upcoming poll, and we'll see 😉
I really like the suggestion! Let's do Mises 😀
ok now am curious. am googling
NEW subscriber here!
You’re vids are clear and informative! Thanks for that ❤️💃🏻💥
Glad you enjoy them Lion Rose! Cheers!
i started seeing ur video from the start
ur channel will hit million soon
Arman Yaseen thank you for your continued support! 🙌 Very flattering indeed 😁
This book has changed by financial thought. It should include in schools
The video itself is good, but in the book is so much more going than u have showed it. Anyway tnx for the effort man. And others pls read the book, it is a life changer.
There is so much more to this book, which is not explained in the video. The seven cures for lean purse, the five laws of Gold, the struggles of Dabasir and so much more .
thank you
This is such a great book. I posted 2 videos on my channel going over the great financial principles taught by this book.
it is great that you have upgraded your mic
Thank you
I love your videos!!
🙌🌟
Fantastic, Now Back to the Book
Thanks!
very concise and informative, this is my new favorite channel
Manu datu, thanks a TON! 😁 That comment made me very glad
Nice summary
Thanks! Just subscribed.
this is the best review so far
Heeey, I appreciate that a lot man, thank you! 🌟
The Swedish Investor I watched several reviews of this book and yours was by far the best one. Congrats on your hard work.
The Swedish Investor I watched several reviews of this book and yours was by far the best one. Congrats on your hard work.
I personally can't wait to see an animation inspired by this book... An animated series.
It would be amazing to watch through
Thank you so much for creating this video, can I ask how do you calculate expected annual growth rate as seen in point 4?
Percentages...year one dividend is reinvested...so year one $100 dollars..get $4 divi .year two all things being equal your divi will be more than 4 dollars (104) dollars invested...reinvest..get it.?each year that passes you are not only seeing growth but also a return on the dividend as well.
If you can afford to invest and increasing sum let's say $100+ dollars the effect will compound..you will end up making more in interest than you invest. So in thirty years you can only afford 500 dollars investment from earnings a year but in dividends alone you could be making 1600 dollars...so your dividend for next year will be greater(1600 +500) at 4%...another 84+$ income.
God I've confused my self...OVER TIME YOUR INCOME WILL INCREASE YEAR ON YEAR IF U REINVEST...ALL THINGS BEING EQUAL.
Esse livro é muito bom , estou lendo ele , eu ganhei de presente de aniversário de 17 anos , e muito educativo para finanças
10% is cute, but minimum of 30% is ideal and reasonable, for any income level. Your rent/mortgage/shelter expenses, should never exceed 30% anyway, so that leaves you 40% to play with. If you can’t stash 30% of your earnings you don’t really want it.
I fully agree with you.
30% is cute, minimum of 50% is better for everyone. If you aren't saving at least 50% you're really just pretending to save. After all, we can't all live with our parents.
@@bufoot19 50% is very good. Especially for those people who live in Very affordable parts of the country. 50% is very doable.
Eating at home and minimilism living helps save money.
Fire movement is well worth a look into.
Thank you for your work in summarizing the highlights of the Book, Sir!!! Craig
I’ve read 4 books and they took me a while to finish them let me tell you. When I ended them I understand them completely. After I read them I watched your videos about those specific books and I was completely mind blown away. Im thinking about not reading anymore and just watching your excellent elaborated book videos and not starting a book anymore.
PS: i have a notebook where I write the name of the book and then the whole book review and takeaways.
Should I start books or only watch takeaways and review videos from you different sources?
Should read the books after some searching their summaries and reviews
Read summaries to know if it's something you need to learn or expand on. If it is then read the book and pause and think. Every 30 min to really digest and understand the contents.
THX
I prefer this to the Tai Lopez, Grant Cardone and Dan Pena nonsense. Save more than you spend.
I think it all boils down to what gets you motivated and going. People can definitely become wealthy by following the take-massive-action advice of Grant Cardone, and the same goes for the advice given in The Richest Man in Babylon. But no one will get rich by just hearing the advice, so it has to speak to you loud enough for you to get your butt off the couch 😉
@@TheSwedishInvestor great insight on your part. Many of us will not amass the wealth these men have attained. So make sure you automate your savings.
Can you do a summary on the Single Best Investment by Lowell Miller? Thank you and Good day
Great video😊
3) Wealth is a matter of expenses & (managing)LOSSES!!
Awesome
Great video
Great channel - Subbed