The Richest Man in Babylon

The Richest Man in Babylon invested 10% of all his income throughout his working life.

From his first wage packet, he put 1/10th of his gross income into the bank and never withdrew any capital.

He also put 10% of any other income he received into his savings account and never withdrew anything.

During times of scarcity he lived off 90% of the interest gained on his capital.

The other 10% of interest earned he re-invested as savings that he never touched.

He became very rich because of the interest gained on the interest gained on the money that was always appreciating and he never withdrew.

The way to become very rich is to never spend more than 90% of whatever you receive including the interest earned on the money that you save.

Money then becomes an appreciating asset that is saved rather than a depreciating asset that is spent.

Whenever I spend money that I have saved it will depreciate my riches and depreciate the ability of my money to appreciate.

Becoming the Richest Man in Babylon will never make me the Wealthiest Man in Paradise.