There are few books of basic wisdom that endure for generations. One of these books is The Richest Man In Babylon, first published in 1926.
We have heard, again and again, the critical importance of putting aside a share of our income for investment.
There
are a lot of ways to build wealth, but there is a simple, sure way that
can always work. It is simply to develop the habit from a young age of
saving a share of your income, say 10%. Paying this amount to your
investment account must become the same as paying your monthly rent or
mortgage payment.
Developing the habit
of saving money should be developed the same as the habits of bathing,
washing hands before a meal, or shaving.
If
you can't have certain luxuries now and maintain your savings ritual,
postpone the luxuries now so you can enjoy them and financial security
later.
I said this method is simple, I didn't say it was easy.
These are the lessons that George S. Clason drives home again and again in the parables of The Richest Man In Babylon.
Here is an excellent graduation gift for your child or grandchild.
If you haven't heard of or read The Richest Man In Babylon yet, maybe this is a good time to get a copy for yourself and read it.