Tuesday, September 15, 2009

5 Laws of Gold:

1. Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family. This is the first law or secret for creating wealth. Wealth is not created in a day, a month or a year but over investing small amounts regularly over a long period of time.

2. Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field. If you invest your money well, your money will simply make more money. Again, a very simple and obvious rule, but one that many people never get to because they failed to follow the first rule.

3. Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling. This rule encourages cautious investing, or at least encourages the investor to at least be informed. Become an informed investor and make sure you get proper financial advice.

4. Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those who are skilled in its keep. This goes hand in hand with the third rule: if you invest in areas outside of your expertise, you’re likely to lose money unless it's under the guidance of a qualified financial advisor.

5. Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment. The worst option is to invest in anything that promises absurdly good returns, or anything that you’re heavily pressured into buying. These investments are scams and won’t stand up to serious research. Lately there have been many such scams and there are still many such scams going around.

These 5 laws come from the book: - The richest man in Babylon.