The Five Laws of Gold_Seeking Financial Breakthrough

“To him who abides by the five laws, gold comes and works as his dutiful slave.”

Laws Of Gold

In the 1920s, George S. Clason published a number of pamphlets on the secrets of financial success. These pamphlets were later assembled as The Richest Man In Babylon.

The pamphlets were written as narratives, the most famous of which was the story of Arkad.

Arkad had become the richest man in Babylon by abiding by the five laws of gold.A powerful story in the book is that of Arkad’s grown son, Nomasir. Before Nomasir can inherit his father’s fortune, he ventures out into the world to learn how to build a fortune of his own.To get him started on his journey, Arkad gives Nomasir three bags of gold and a clay tablet engraved with “the five laws of gold.”

Reminiscent of the parable of the prodigal son (Luke 15: 11–32), Nomasir tries his hand in a number of ventures and nearly squanders everything. He eventually comes to himself (Luke 15: 17). He dedicates his life to the study of the five laws of gold that his father had given him upon the engraved tablet.

Through skillful application of the five laws, Nomasir returns to Arkad years later having multiplied the gold with which he started.Upon arriving in his father’s house, Nomasir shares this powerful maxim:Without wisdom, gold is quickly lost by those who have it, but with wisdom, gold can be secured by those who have it not.Here are the five laws of gold that made the richest man in Babylon the richest man in Babylon.

The Richest Man In Babylon

The First Law of Gold

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.

Interpretation: “Money comes to those who save.”

Laws Of Gold

Rich Dad, Poor Dad author Robert Kiyosaki said that this first law embraces the concept of “paying yourself first.” And to pay yourself first, you need to exercise self-discipline.If you have never saved before, then it will likely take time to adjust to living on less than you make.One way you can save is through contributions to your employer’s retirement plan. The money is taken out of your paycheck and deposited into your retirement account(Social Security)before you ever see it or even have the chance to spend it.

The Second Law of Gold

Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.

Interpretation: “Money multiplies for those who invest it.”

Laws Of Gold

I am reminded of the parable of the talents in Matthew 25: 14–30.

As you may recall, a man has three servants: to one he gives five talents, to another two, and to the third servant he gives just one talent.The first two servants double their talents — from five to ten, and from two to four respectively. The third servant, however, had hid his one talent… He feared what might happen should he lose it.As expected, the master was well pleased with his servants who multiplied their talents, and was not with the servant who did not.The amount of talents didn’t matter… what mattered was finding “profitable employment” for the talents and multiplying them.

Are you finding “profitable employment” for your “gold”?Are you multiplying what you have?

The Third Law of Gold

Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling.

Interpretation: “Money stays with the person who entrusts it to wise people.”

Laws Of Gold

Like politics and religion, it seems like everyone has an opinion when it comes to investing.Dave Ramsey teaches how to eliminate debt and then avoid it forevermore. He is a proponent of investing in mutual funds, 401(k)s, and Roth IRAs. According to Ramsey, these should be the foundation of your retirement savings.Robert Kiyosaki has taught millions of people the power of accumulating assets, especially real estate.

Unlike Dave Ramsey, Kiyosaki does not recommend mutual funds, and he utilizes debt in the acquisition of his rental properties.

Tony Robbins and Peter Mallouk took a deep-dive into the power of index funds in their book “Unshakeable.” The book offers fascinating insights on how fees in traditional mutual funds, the funds that Dave Ramsey recommends, deteriorate the funds’ growth potential over time.

R. Nelson Nash in his fascinating book, Becoming Your Own Banker, shares how to cut lenders out of your life through the strategic use of whole life insurance policies. Dave Ramsey, on the other hand, does not recommend whole life insurance. Nash teaches how to avoid the stock market entirely — the ultimate way to eliminate risk.So who is right?Honestly, each of these individuals has enjoyed tremendous financial success following the strategies above.

Thus, more important than the “what” of investing is the “how” of investing… Be cautious, do your homework, and find wise, financially savvy individuals who can help you succeed. Pick a strategy that resonates with you, and which you understand.If you don’t have the knowledge to invest successfully, then make an investment in someone who does. Paying a financial advisor will cost you, but future investing mistakes without an advisor will cost you even more.

The Fourth Law of Gold

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 skilled in its keep.

Interpretation: “Money is lost when invested in things with which you are not familiar.”

Laws Of Gold

You should never take such a risk with your money.Where is your “gold”?

Are you invested in a 401(k) or an IRA? If so, do you understand what it will take to comfortably retire?There are a lot of ways to invest your money. But before you invest, make the time to understand what you are investing in.

The Fifth Law of Gold

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.

Interpretation: “Money is lost at a fast rate by pursuing get-rich-quick schemes.”

Laws Of Gold

Make Money Work for You

To him who abides by the five laws, gold comes and works as his dutiful slave.The five laws aren’t easy but they are based on true principles that work.To me, the most exciting part about the five laws is not only the promise that “gold” will come, but that it will “work as [my] dutiful slave.”There are many reasons you might desire financial independence… For me, financial independence means freedom.Freedom to work on what I want, when I want, how I want.Getting wealthy may not cure every problem, but it sure can cure a lot of them. — Dean Graziosi

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