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The ways in which individuals build wealth have multiplied since the days of ancient Babylon. The amount of investment strategies available today is vast, when compared to the options that were available to a Babylonian entrepreneur. We have come a long way in how easy it is to make investments in this day in age. No longer must we ride ass or horseback many miles in order to purchase stock (inventory), and then ride many more in order to present that stock to a profitable market. Yes, in our day in age we can buy/sell/trade stock and make investments from the comfort of our homes (hometown), and from a mobile device.
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What hasn't changed since the great Bronze Age of Babylon, are the fundamental rules of money. If you ever wondered what is in that “special sauce” that not only makes a financially prosperous individual, but also a financially prosperous society, then look alive. If you pay mind to what I share with you in this post, I promise you, it will be the best deal you will ever make in your life. If you so choose to implement these rules in your life, even if only to see what returns, you will be doing a service not only for yourself but for your fellow man and loved ones as well.
Respect Money and Economic Wealth will Appreciate
In order for an economy to prosper as a whole, then it will require a collective effort down to the lowest common denominator, the individual. Each of us has a responsibility to our fellows that live and work side by side us, to respect that which our economic infrastructure was built, so that every man, woman, and child has equal opportunity to prosper as we have. It is our responsibility to respect our money, or less is considered worship, and to this concept so many individuals have already fallen victim to this love for money.
For generations now, many have lost their way, and have perpetuated the consequences of this economic struggle that we all sense today. We see it in the faces of our friends, family members, neighbors, and colleagues. I do not curse the naïve or the ignorant, for every man’s path in life is his own, but it is clear that the rules of money has failed to be effectively shared throughout the ages, as they were during the Bronze Age of Babylon. Prosperity is not built on hate, so to truly say you love thy neighbor, and care about the future of your loved ones, then to take personal financial responsibility is a noble gesture not only for the individual, but for your fellow man.
An Ideology of Wealth and the Seven Rules of Money
Based on the inscribed tablets of Ancient Babylon
· Men and women who keep both gold and silver that they have no need to spend, are good to their family and loyal to their community.
· Men and women who keep only a few coppers are indifferent to their family, and indifferent to their community.
· Men and Women who have nothing for their keep are unkind to their family and disloyal to their community, for their hearts are bitter.
Rule #1: Always Pay Yourself First
Set aside 10% of all your earnings, because every man and woman is entitled to a claim of their sweat equity before anyone else. This savings is a representation of your personal equity, and is not to be used on monthly expenditures.
Rule #2: Stay in Your Lane
Use the other 90% of your income to cover your living expenses and lifestyle expenditure, without going into debt. If you have debts (not including home owner mortgage), use no more than 20% of your income to make good of your bad debts, then the remaining 70% to pay your lifestyle. Note: If the remaining 70% does not afford you the lifestyle you desire please refer to rule three, six, & seven.
Rule #3: Make Investments
If you are disciplined, the 10% payments made to yourself should add up to a substantial amount of seed capital to use for investment purposes. The savings you work hard to build is your investment capital that you will put to work for you.
Rule #4: Insure the Principle
It is good practice to protect the principle balance of the seed capital in all of your investments. Insure its return, for it is a representation of your time and effort. Note: Avoid gambling
Rule #5: Own Your Real Estate
In this age of fiat currency and bank derivatives, it is important to own your real estate. This is your space to live and be free under the rule of no man, but only answering to Uncle Sam. Note: If you have a mortgage you do not own your real estate. Your landlord is the bank, and the equity is diluted by the interest of the loan.
Rule #6: Create Multiple Streams of Income
Individual men and women owe it to their senior selves to prepare for retirement, and to their loved ones to create comfort and support that contributes towards the strength of their family tree, so that it may continue to be fruitful in later years.
Rule #7: Increase Your Human Capital
Stay enthusiastic about learning, in or out of academia, in order to increase your skill sets, your knowledge, your experience, and gain wisdom in order to increase your individual value, to society.
In order for an economy to prosper as a whole, then it will require a collective effort down to the lowest common denominator, the individual. Each of us has a responsibility to our fellows that live and work side by side us, to respect that which our economic infrastructure was built, so that every man, woman, and child has equal opportunity to prosper as we have. It is our responsibility to respect our money, or less is considered worship, and to this concept so many individuals have already fallen victim to this love for money.
For generations now, many have lost their way, and have perpetuated the consequences of this economic struggle that we all sense today. We see it in the faces of our friends, family members, neighbors, and colleagues. I do not curse the naïve or the ignorant, for every man’s path in life is his own, but it is clear that the rules of money has failed to be effectively shared throughout the ages, as they were during the Bronze Age of Babylon. Prosperity is not built on hate, so to truly say you love thy neighbor, and care about the future of your loved ones, then to take personal financial responsibility is a noble gesture not only for the individual, but for your fellow man.
An Ideology of Wealth and the Seven Rules of Money
Based on the inscribed tablets of Ancient Babylon
· Men and women who keep both gold and silver that they have no need to spend, are good to their family and loyal to their community.
· Men and women who keep only a few coppers are indifferent to their family, and indifferent to their community.
· Men and Women who have nothing for their keep are unkind to their family and disloyal to their community, for their hearts are bitter.
Rule #1: Always Pay Yourself First
Set aside 10% of all your earnings, because every man and woman is entitled to a claim of their sweat equity before anyone else. This savings is a representation of your personal equity, and is not to be used on monthly expenditures.
Rule #2: Stay in Your Lane
Use the other 90% of your income to cover your living expenses and lifestyle expenditure, without going into debt. If you have debts (not including home owner mortgage), use no more than 20% of your income to make good of your bad debts, then the remaining 70% to pay your lifestyle. Note: If the remaining 70% does not afford you the lifestyle you desire please refer to rule three, six, & seven.
Rule #3: Make Investments
If you are disciplined, the 10% payments made to yourself should add up to a substantial amount of seed capital to use for investment purposes. The savings you work hard to build is your investment capital that you will put to work for you.
Rule #4: Insure the Principle
It is good practice to protect the principle balance of the seed capital in all of your investments. Insure its return, for it is a representation of your time and effort. Note: Avoid gambling
Rule #5: Own Your Real Estate
In this age of fiat currency and bank derivatives, it is important to own your real estate. This is your space to live and be free under the rule of no man, but only answering to Uncle Sam. Note: If you have a mortgage you do not own your real estate. Your landlord is the bank, and the equity is diluted by the interest of the loan.
Rule #6: Create Multiple Streams of Income
Individual men and women owe it to their senior selves to prepare for retirement, and to their loved ones to create comfort and support that contributes towards the strength of their family tree, so that it may continue to be fruitful in later years.
Rule #7: Increase Your Human Capital
Stay enthusiastic about learning, in or out of academia, in order to increase your skill sets, your knowledge, your experience, and gain wisdom in order to increase your individual value, to society.
