Chapter 4 The third, fourth and fifth law of wealth

Everything Solomon taught the people of Persia which was regarding wealth and how they can monopolize it, he asked them to put it into practice. The law seems to sound easy to some people but it requires a lot. With the determination to be wealthy most gave it all it requires. Some work tirelessly but have nothing to show for it and with passion burning in their heart they did all that Solomon the richest man in Israel has taught them to do.

"Look, your lean purse is now growing! You've learned to save one-tenth of your earnings and control your spending. Now, let's talk about how to make your savings work for you. Having gold in your purse is satisfying, but it doesn't earn more money on its own. We need to invest it to build our wealth.

"My first investment didn't go well, but I learned from it. My first successful investment was lending money to Haider, a shield maker. He needed loans to buy bronze for his business and promised to repay me with interest. I reinvested the interest, and my capital grew.

"The key is to create a steady income stream, like a flowing river of gold into your purse. That's what everyone wants - a continuous income, whether you're working or traveling. I've built a large income through wise investments, starting with Haider's loans. As my wealth grew, I diversified my investments and now have a steady flow of income from many sources. This is the secret to building wealth."

"Look, my small earnings have grown into a treasure of golden assets, each generating more wealth. As they work for me, their 'children' (interest) also work, creating a snowball effect that grows my wealth rapidly.

"Here's an example: A farmer invested 10 pieces of silver for his newborn son, earning 1/4 of its value every 4 years. By the time the son turned 20, the investment grew to 30.5 pieces. The farmer left it alone, and by the time the son turned 50, the investment multiplied to 167 pieces of silver!

"This shows how compound interest can grow your wealth exponentially over time. This is the third secret to a prosperous purse:

- Make your money work for you

- Let it reproduce itself through interest

- Create a steady stream of income that flows into your purse."

"Remember, wealth attracts risk. To keep your gold safe, you must be cautious and protect it wisely. It's essential to secure small amounts first and learn how to safeguard them before aiming for more.

"When investing, be cautious of opportunities that promise large returns. Don't let greed cloud your judgment. Prioritize the safety of your principal investment, and don't risk it for potential gains.

"Before lending money or investing, research the borrower's creditworthiness and the investment's potential risks. Don't rely solely on your own judgment; seek advice from experienced financial experts. Their guidance is invaluable and can save you from losses.

"I learned this lesson the hard way when I lost my savings to a fraudulent investment. Don't make the same mistake. Be cautious and seek wisdom from those who have experience handling money.

"This is the fourth secret to a prosperous purse:

- Protect your wealth from loss

- Invest only in safe and secure opportunities

- Seek advice from financial experts

- Prioritize the safety of your principal investment

By following these principles, you'll ensure your purse remains full and secure."

"Today, I'll share the fifth secret to a prosperous purse: owning your own home. If you can invest part of your earnings in a home without compromising your wellbeing, your wealth will grow faster.

"Many men in Israel rent small, uncomfortable homes, paying high rents to landlords. But owning a home brings joy and stability to your family. It's a place where your children can play, your wife can garden, and you can enjoy the fruits of your labor.

"It's achievable to own a home, even for those with modest means. Our king has expanded Babylon's walls, making land available at reasonable prices. You can also borrow from money lenders, who are willing to help men provide for their families.

"By owning a home, you'll reduce your living costs and have more money for pleasures and desires. Your wife will be happier, tending to your garden and home. You'll be proud to care for your property, and your heart will be filled with confidence and gladness.

"This is the fifth cure for a lean purse:

- Own your own home

- Reduce your living costs

- Increase your wealth and stability

- Bring joy and comfort to your family

Remember, owning a home is within reach, and it's a key to building a prosperous life."

" As I reflect on my journey to financial stability, I realize that owning my own house has been a crucial milestone. It's not just a roof over my head, but a sense of pride, security, and freedom.

Growing up, I remember moving from one rented home to another, never feeling truly settled. But when I finally owned my own house, everything changed. I felt a sense of permanence, a place to call my own, where I could build memories and create a life.

Owning a home has also been a smart financial move. I've reduced my living costs, as I'm no longer paying rent to a landlord. I've also built equity, as my property value appreciates over time.

But it's not just about the financial benefits. Owning a home has given me a sense of belonging and community. I've planted roots in my neighborhood, made friends with my neighbors, and feel connected to the place I live.

Moreover, owning a home has taught me responsibility and self-sufficiency. I take pride in maintaining my property, fixing things myself, and being self-reliant."