The Richest Man In Babylon // 10 Timeless Wealth Lessons
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- čas přidán 5. 07. 2024
- Timecodes:
0:00 - Intro
0:38 - Seek Wealth
1:45 - Invest In Yourself
3:16 - Act
4:45 - Get Good Advice
6:24 - Make Money Work For You
8:00 - Pay Yourself First
8:44 - “Necessary Expense” Is Self Defined
9:50 - Avoid Risky Investments
11:32 - Buy Protection
12:35 - Enjoy Life
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DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am merely sharing my personal opinion. Please seek professional help when needed.
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Just research the name Angela Lynn Schilling. You’d find necessary details to work with a correspondence to set up an appointment.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
Possibly one of the best personal finance classics you can buy. Simple doesn't break - the wisdom in this book is practical and ageless. Great pick Tae!
Ecclesiastes 9:11
11 I have seen something else under the sun: The race is not to the swift or the battle to the strong, nor does food come to the wise or wealth to the brilliant or favor to the learned; but time and chance happen to them all.
My favorite book on finances
Highly recommended reading! I’m fairly new to your channel, but thanks for sharing your videos, along with thoughts, experiences, and advice. I’m almost 53 and I know I’m one step, one day closer to a bear stressless living. I know I’m blessed every day. Thanks!
I just finished reading this book and I can honestly say it will CHANGE my life and the view I will treat money going forward.
I really love how your so candid with self deprecating humor. It's a great sign of maturity that you have the ability to look back and laugh at the silly mistakes. You're the man, Tae!
I've read this book several times and I'm sure I will read it again. When my son started earning an allowance, I had him read it. He's 19 now and has a significant start on a down payment for a house. The Richest Man in Babylon is a classic - and should be required reading for anyone starting their financial/investment journey.
Awesome
how is he doing today?
I love this classic. This will be the first book on finance my children will read soon as they turn 10
One line from the book really hit hard because I know I'm the person he's talking about. "Others... hoard their wealth, fearing to spend what they have, knowing they do not possess the ability to replace it."
This book has changed my life. Not only does it have great advice but it has actionable steps to do in order to gain wealth.
I think this is the best personal finance book because it's easy to read and the wisdom is simple to grasp for most people.
Great book, there is a free audiobook version of this book on CZcams.
I myself listen to this classic at least once a year.
Great recap of my favorite personal finance book. What I took from the book; if you have time on your side, keep it simple and everything should workout in your favor
FT consistently has good karma as well as safe, sound guidance in each episode. I dig it.
I like this book review. The ultimate way to learn about wealth building. Keep doing it. Thank you!
Matthew 6
33 But seek first the kingdom of God and His righteousness, and all these things shall be added to you.
My experiences so far:
01 - sometimes this can be challenging, mostly because I'm not always sure where to look. But I do like looking for opportunities where I can, particularly in exploring new ideas.
02 - I'm all about self-investment. I strive to always learn new things, try new things, and improve everyday. It's why I'm doing a PhD.
03 - I follow a system called "Ready Fire Aim". Ready Aim Fire doesn't work for me, because I get stuck at aiming. And it's not like I can only shoot once.
04 - I always seek advice from people I know are experienced and accomplished. Not hard to find in academia, particularly in a prestigious university.
05 - I'm still honing this one. I have a lot of time though, so no rush on this one.
06 - I always pay myself first, no matter the circumstance.
07 - Minimalism helps with keeping needs low.
08 - I'm fairly risk-averse when it comes to money, so this is right up my alley.
09 - Same with the aversion to risk, I play it safe with security as well.
10 - Enjoying life in grad school is admittedly a bit difficult. But I'm doing my best.
Cheers, Tae!
So you start running and change direction on the fly when you realise your priorities need to change.
A small book and had for years.always good to refer back to. Been reading it for many years. Like anything it's easy to read just not easy to do..
Great video. I've been listening to the audio book over and over again and it's great to hear an overview on it from someone else. I've been putting away atleast 10% of my income but I have no idea how to invest it to make it reproduce. After this book I feel like I have to do serious research before I invest. I don't want to lose my earnings
Discuss more in depth personal finance concepts which are more quantitative and give real life solutions. Great upload again.
Great video!
Thank you very much for the insights it was really delightful and interesting work
One of my favorite books
Thanks for this!
Thank you
Thanks for this summary! Totally disagree with the fitness miscommunication though. Keep investing in yourself!
One of my favorite book
This is my favorite finance book 📙
Great book 💯
Great summary!
Great job 👏 👍 👌
Biggest thing Tae Kim said: “don’t obsess over money but also don’t hide from it”
Great Information
Awesome it is easy pay first and reduce dumb "car expenses" i invest in houses and invest 7% every month in stocks
great videos good work action ( avoid risky investments slow and steady) also i just invested in Amazon in 2 % stock!!
Can you recommend some financial books to avoid with "bad" advice?
Would love a review on Rich Dad Poor Dad.
I was struck with schizophrenia when i was 14 in a family that literally never cared if i lived or died. I was psychotic for 50 years but miraculously healed when someone prayed for me in 2017.
After 6 years of confusion and anger i think I'm finally " normal," and I would like to get rich, but let's face it at 71, I'll never live long enough to do it. That pisses me off !
You could live to be 100, is 30 years not enough?
@hadrianaugustus5712
Hey buddy, I don't have a secret recipe for fried chicken , some chance of financial success when starting out after 65 is unheard of. There isn't a door on this planet I could knock on, and someone would say , " Hi, how are you?"
There isn't one phone number I can call, and someone will answer with, " Hello Daniel." I am alone in this world after being alone since the 1960s. I'm living in a third-world country where I don't know what anyone's saying, in a one room apartment. It'd be difficult for me to return to the US, and if I could, I don't have enough money to live there. Since you know how I can make an enjoyable life on this earth, in this situation, please explain the plan to me.
First video I saw from you. Congratulations. And you got a new subscriber
would you mind making a playlist of your book reviews and recommendations?
So funny I was telling a young man today that he needs to read this book,
please share 1 page PDF for this video too like other ones if possible
The funniest part of the book is the jarring section where the writer has to make a character foresee that life insurance should exist as a necessity for wealth in the future. Otherwise it is really engaging.
7:35 You owe me an "F" on the banner "Index Funds", AWESOME VIDEO
I think a better metaphor is watching a tree grow. It takes a long time but if you check on it every few years you will see growth.
Alright book. Good beginner book high schoolers working their first job should read. My biggest take away being pay yourself, every time your paid vs everytime you pay for something, your also paying a company…. Like I’m not just buying Taco Bell, I’m paying Taco Bell, do I really want to pay Taco Bell vs pay myself 😆 that said! Obviously enjoy your money too
Too many slaves, too, but great lessons I agree👍
"Nowadays it pays to be a hustler and a player."
The 10th point contradicts all the other 9 points. I am confused.
❤❤❤
Inspired by The Richest Man In Babylon & Jesus Parable of the Talents
I shoulda sought more but I buried my head up my assets
Sitting on my money when bees be hustling for that honey
It ain't funny.
All the plantating makes me sore, like my back for sure
when the billwhip cracks a little more...
Don't lay Ur money in store, roust it about put it to work
Make it make money multiply, don't be a broke joke jerk.
Keep 10% what U earn. Invest in gnohow that's wise
Make it make money multiply all the days of Ur lives.
Budget emotional desire. Educate urself higher.
Guard future against costs. Live for gain and not loss.
Tossed Ur salad days of youth. Don't even sweat it.
Start today w/ what U have you won't live to regret it.
Bet it makes a difference, syke, gamblings for suckers.
Live Ur life w/ balance.
Make the most of Ur God given talents....
Private Disability Policy…you missed that one 😉
aaaaaaaaaaaaaa
mazing
7:35 typo *F*und
I thought it was a really ancient story just as old or older than the Bible.
Hold up, you're physique isn't similar to Arnold's? You had me fooled...
Vm
Why is that people like me middle class making less then 50 k a year ,Are never the group the CZcamsr is talking too ?
Money does not bring happiness and contentment. I know of two couples who.r well off financially and r miserable. When u put money before family and relationships it's called obsession and that's not healthy. They r never happy with what they have. It's always more, more, more.
Also they r narcissists.
Please don't put sound effects in your videos, some people don't watch, only listen. 😊
seems like youtubers are recycling subjects over and over
Talking too fast! I am outta here...
Can you explain how your saving money living with your wife’s boyfriend? I know that method was in your method of wealth building, but how does it work? Do you make the sandwiches for them when they finish? And you clean up the mess? It wasn’t clear from your last video. Thanks man, keep up the content