Have you recently read – or are thinking about reading The Richest Man in Babylon, and are wondering whether or not it’s a true story?
This is one of the all-time classics when it comes to personal finance books, and it’s one of my personal favorites as well.
So, how true is the story, and where did it originate?
In this article, I’ll cover everything that you need to know!
Is The Richest Man In Babylon A True Story, Or Fiction?
Although there is a lot of truth in the lessons taught within the book, The Richest Man in Babylon is a work of fiction.
The book was written by George S. Clason and published way back in 1926. That being said, the story itself takes place in ancient Babylon, over 4,000 years ago.
The fictional story and characters within the book are what help make it accessible to everyone, and make it an entertaining and enjoyable read for all ages.
That being said, the lessons, ideas and concepts that the book teaches hold a lot of truth to them, and can be applied to anyone looking to grow their wealth – even now in the modern age!
So, although the story elements are fictional, the lessons are as true as can be.
Is There Any Evidence To Support That This Is Real?
We now know that the story was entirely fictional, and the characters in the book were not real. But is there any evidence to show that this may have happened?
Or, at the very least, that the story was inspired by true events?
Unfortunately not. However, it’s still likely that these exact same lessons were used and shared throughout history – perhaps dating all the way back to ancient Babylonian times.
After all, this story reads like it could be true. And the lessons taught still would have applied back then, as long as currency was being used. So, it’s likely these same ideas have been shared and used for thousands of years now.
Let’s look into that a little deeper!
The Lessons Are Still Relevant Today, However
One of the reasons The Richest Man in Babylon is so timeless, is it was written with foundational personal finance principles in mind.
Despite the fact that the story took place over 4,000 years ago, it was written in such a way that it is still just as applicable today, and will be just as applicable in the future. Because while the exact strategies we use to grow our money may differ as time goes on, the underlying ideas stay the same.
For example, here are some of the lessons taught in The Richest Man in Babylon:
- Spend less than you make. Take a percentage of your money and put it aside.
- Put that money to work for you via investments, so your money can begin to grow and multiply.
- Only invest in things you are familiar and comfortable with.
- Perform proper risk analysis before investing.
- Ensure that even in the future when scenarios change, you are still able to earn an income.
- Do things that can increase your ability to earn – such as learning new knowledge, and acquiring new skills.
These principles are just as applicable today as they were back in ancient Babylon – and when George S. Clason wrote the book in 1926.
While The Richest Man in Babylon is indeed a fictional story, there is a lot of truth in the lessons that it shares.
After all, this is considered one of the all-time classics when it comes to personal finance books, and probably will be well into the future. The lessons truly are timeless, and there’s no doubt that they’ve been used throughout history by those looking to create wealth.
What is your opinion of this book? How has it shaped the way you think about your finances? I’d love to hear your thoughts on it via the comment form below.
To your success,
– James McAllister