Wednesday, June 10, 2009

Book's Gist: The Richest Man in Babylon

1. Keep >=10% of all  earnings for yourself
   -10% to 25%

2. Control expediture, simplify
   -Prioritize spending - Assets & Growth

3. Multiply your keepings
   -Invest only in solid investments
   -Use these as "workers" & their children & their childrens' children

4. Insure your treasures from loss
   -medical, long term care
   -death, critical illness, disability

5. Own your home
   -Take as long a mortgage as possible BUT pay off early (bi-weekly or other plans)

6. Insure a future income
   -Plan & execute your financial freedom requirements

7. Increase ability to earn / create opportunities
   -Learn & grow

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