Today I will share with you the five laws of gold as told by Arkad to his son Nomasir.

So, much like our customs, sons inherit from their fathers’ belongings.

But Arkad, who was known as the richest man in Babylon, did not approve these customs.

He wanted his son to prove himself first, so he gave Nomasir a challenge.

A ten-year challenge to prove that Nomasir was indeed worthy of the inheritance.

He said: “My son, it is my desire that thou succeed to my estate. Thou must, however, first prove that thou art capable of wisely handling it. Therefore, I wish that thou go out into the world and show thy ability to both acquire gold and to make thyself respected among men”

“To start thee well, I will give thee two things of which I, myself, was denied when I started as a poor youth to build up a fortune.”

The two things that he gave Nomasir were: a bag of gold and a clay tablet on which he carved the five laws of gold.

Nomasir went forth to make his own way.

But, as a youth, he was foolish and he lost all the gold. He was scammed by con artists, and he lost the other half in a failed business venture.

For food and shelter, he sold his slaves, he sold his horses and his extra robes…

Without any gold, and desperate but determined to make his money back he looked at the clay tablet…

On it, as promised were the 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.
  2. Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.
  3. Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in it’s handling.
  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 skilled in its keep.
  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.

If Nomasir had read and understood these laws before he spent his gold, he would still have had it, and with it much more. But, no, he chose the gold first and not the wisdom.

Still, his story does not end here.

Nomasir strived. He got a job. He saved, and then with the wisdom of others trained in their fields, he invested. He got into a group of men who were wise in the handling of gold. They talked about each plan with great care before entering upon it. They took no chance in unprofitable investments.

He says: “Through my association with these men, I learned to safely invest gold to bring profitable returns. As the years went on, my treasure increased more and more rapidly. I not only made back as much as I lost but much more.”

The great thing about this story is that these five laws are as applicable nowadays as they were over 5,000 years ago.

This true story is from the book “The Richest Man in Babylon”

So, will you abide by these laws?

It’s quite easy nowadays, save 10% of all your earnings. Once the savings reach a substantial amount, invest it in safe transactions. Ask advice from knowledgable folks. Invest in businesses only after you have a good knowledge of the field and finally, avoid promises of making millions overnight.

If you need help with law #1. I can probably help you get started. See, most business owners cannot save a lot because they only make enough to pay their bills and survive. But if you can increase the amount you make every single month, you can save that extra and make it work for you.

Sure, some will tell you that you can save more by reducing your spending, but as you can tell I’m not a big fan of frugal living.

Life is meant to be enjoyed as well.

Let me know if you need help on increasing that monthly income…

Author

Umar is the co-founder of ArcheTrust, a marketing agency dedicated to helping small businesses make more money so that the owners can finally live the lives of their dream. He is also the co-founder of the Simple Growth Magazine where he regularly shares his knowledge and opinion about growth strategies. Having started as a freelancer over a decade ago, he's been through most of the challenges that small businesses face, and today he uses his experience to help others avoid the pain that he went through.

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