Dave: "Alright, wealth builders! Today’s episode is electric, we’re cracking open Chapter 5 of “The Richest Man in Babylon”: ‘Meet the Goddess of Luck.’ And here’s the burning question: Is luck real… or can you actually create it?"
Doug: "Oh, come on, you’re telling me Babylon had a formula for luck? Next, you’ll say they invented the lottery!"
Dave: "Even better. They figured out why most people never get lucky, and how the wealthy attract good fortune like magnets. I’m Dave Smith and welcome to the Fuel for Financial Freedom podcast. I am here with my co-host Doug Shepherd, Let’s dive in. Doug, Is luck common?
Doug: “Spoiler: No. Arkad starts with a brilliant experiment. He asks his students: ‘Who here stumbled into wealth without effort?’ Crickets. Then he asks: ‘Anyone get rich from gambling?’ More crickets, until someone jokes, ‘Uh… the casino owners?’"
Dave: "This reminds me of an old classmate, Jake. He swore he’d win big at poker. Years later? He’s still borrowing rent money. Meanwhile, another class mate, Cindy, who studied real estate, bought a dumpy condo, renovated it, and sold it for double. That wasn’t luck. That was skill meeting opportunity."
Doug: "Exactly! Babylon’s lesson: True luck is rare as unicorns. The rich don’t hope for luck; they engineer it."
Dave: "Here’s where it gets painfully relatable. Arkad says: ‘Good luck fled from procrastination.’ Ever had a ‘million-dollar idea’… then waited until someone else made it happen?"
Doug: "Ya, my entire 20s and 30s. I wanted to start different little businesses, but kept saying, *‘I’ll just wait until life calms down and I have a little more time.’ By the time I did, three similar businesses blew up. That wasn’t bad luck, it was me sabotaging myself!"
9 – Dave: "Arkad’s fix? Treat procrastination like a thief. You wouldn’t let a robber steal your gold, so why let delay steal your opportunities?" So Doug, How do you create luck?”
Doug: "The cloth weaver’s lightbulb moment: ‘Good luck follows opportunity.’ Not magic. Not chance. Action."
Dave: "Think about Bitcoin. In 2010, a guy paid 10,000 BTC for two pizzas. Today? Worth $600 million. But the real winners? The folks who studied crypto early, not the ones who ‘waited to see.’"
Doug: "Babylon’s formula: Number 1: Spot opportunities, like the weaver noticing a niche. Number 2: Act fast, before the ‘spirit of delay’ kicks in. Number 3: Repeat. That’s how luck compounds."
Dave: "Next, we reveal Babylon’s 5 Laws of Gold, including the one that terrifies procrastinators: ‘Gold clings to the cautious owner.’ Miss this, and you’ll literally repel wealth."
Doug: "Wait, are you saying money avoids people?!"
Dave: "Yes! we’re revealing ‘The Five Laws of Gold’ from “The Richest Man in Babylon”… laws so powerful, they literally determine whether money clings to you or flees like a thief in the night."
Doug: "Wait, are you saying money has rules? Like gravity?!"
Dave: "Exactly. And here’s the proof: The chapter opens with a test. A wise man named Kalabab offers a crowd two choices: a bag of gold… or wisdom engraved on clay tablets. What do you think they picked?"
Doug: "Let me guess, ‘The gold, the gold!’ screamed all 27 people. Classic."
Dave: "Bingo. And that’s why most people stay broke. But Arkad, the richest man in Babylon, gave his son Nomasir both gold and wisdom. And guess what? The son blew it all. Let’s break down why and how these 5 laws could’ve saved him."
Doug: "‘Law number 1: Gold cometh gladly to any man who saves 1/10th of his earnings.’ Nomasir’s first mistake? He didn’t keep any gold, he bet it all on a ‘sure thing’ (a rigged horse race!)."
Dave: "This is like my buddy Wison who blew his $5K bonus on Dogecoin hype. Poof, gone in 48 hours. Meanwhile, his aunt saved 10% of her teacher’s salary for 30 years… and retired early."
Doug: "Money sticks to savers. Period."
Dave: “Law number 2: Make Gold Work for You (Profitable Employment). ‘Gold labors diligently for the wise owner.’ Nomasir’s second fail? He dumped his remaining cash into a scam ‘business partnership’ with a con artist."
Doug: "Yes. Like those Instagram ‘gurus’ selling ‘get-rich-quick’ courses. Real wealth? It’s boring, index funds, rental properties, actual skills."
Dave: “Law number 3: Listen to Experts (Cautious Investing).
Doug: “‘Gold clings to the cautious owner who heeds wise advice.’ Nomasir ignored this, and trusted a stranger over his father’s clay tablet wisdom."
Dave: "Warren Buffett’s number 1 rule? ‘Never lose money.’ Number 2? ‘See rule #1.’ But try telling that to someone FOMO-ing into NFTs!"
Doug: “Law number 4: Avoid the Unfamiliar (The ‘Stay in Your Lane’ Rule). ‘Gold slips from those who invest in unfamiliar ventures.’ Nomasir, a rich kid, tried to run a shop with zero experience. Spoiler: It burned to the ground."
Dave: "This is why athletes go broke. $50M career earnings? ‘Let me open a strip club!’ Fail."
Doug: “Law number 5: Reject ‘Get Rich Quick.’ The Anti-Greed Law.”
Dave: "‘Gold flees those who chase impossible earnings.’ Nomasir’s first loss? The rigged horse race. His last? A ‘can’t-lose’ business partnership. Some lessons take repetition."
Doug: "Here’s the truth: Wealth whispers. Scams scream."
Dave: "Now let’s meet Babylon’s original Warren Buffett, the Gold Lender who turned $1 into $100 without lifting a finger. His secret? ‘The safest investment in the world.’ Hint: It’s not stocks. It’s not real estate. And it’s definitely not meme coins."
Doug: So let’s dive into one of the most practical yet painful lessons from “The Richest Man in Babylon,” how to handle the number one awkward money situation: when friends or family ask to borrow money. And trust me, the 4,000-year-old advice from Babylon’s most famous gold lender, Mathon, is shockingly relevant today."
Dave: "Oh man, I still have PTSD from lending my old buddy $500 for his ‘can’t-lose’ DJ equipment. Spoiler: He lost it. And my money."
Doug: "Exactly! And that’s why today’s chapter, ‘The Gold Lender of Babylon,’ is a must-hear. We meet Rodan, a skilled spear maker who just won 50 pieces of gold and suddenly, everyone in his life has an emergency. His sister, his friends, even his third cousin’s neighbor’s dog needs surgery!"
Dave: "Here’s what’s fascinating. Rodan doesn’t go to Mathon, the gold lender, to borrow money. He goes for advice. And Mathon is impressed. He says: ‘Many men come to me for gold to pay for their follies, but as for advice, they want it not.’"
Doug: "That right there is the first lesson. Most people don’t want wisdom, they want a quick fix. But Rodan? He’s different. He knows that handing out gold without a plan is a disaster."
Dave: "Mathon, the gold lender, has a brilliant system. He categorizes borrowers into three groups:
Number one: The Collateralized (Safe borrower): They own land, jewels, or assets. Mathon says: ‘Their possessions are of more value than the loan.’ Modern Example: Someone with a house or investments.
Number two: The Earners (Moderate Risk borrower): Steady job, honest, but no collateral. - Mathon says: ‘They can repay based on human effort.’ Modern Example: Your employed friend who’s good with money.
Number three: The Desperate (High Risk borrower): No assets, no steady income, just ‘trust me.’ Mathon says: ‘Unless guaranteed by good friends, my token box censures me.’ Modern Example: Your cousin who’s always between ‘big opportunities.’"
Doug: "Group three is why your uncle’s ‘NFT art gallery’ still owes you rent money."
Dave: "Mathon shares a powerful fable: An ox complains to a donkey about his heavy load. The donkey feels bad and offers to carry it for him. The ox agrees… and the donkey dies of exhaustion."
Doug: "The moral? ‘Help in a way that doesn’t bring thy friend’s burdens upon thyself.’ In other words: Don’t set yourself on fire to keep others warm."
Dave: "This is why I hate cosigning loans. You’re literally taking on someone else’s burden, and risking your credit."
Doug: "Mathon’s rules for lending to family and friends:
Number one: Never risk your core savings. ‘Forget not that gold slippeth away from those unskilled in guarding it.’
Number two: Give gifts, not loans. If you can’t afford to lose it, don’t lend it.
Number three: Offer other help. Advice, connections, or labor, not cash."
Dave: "Alright, truth seekers. Let’s expose one of the oldest financial scams in human history. A trap so seductive, it’s bankrupted empires, ruined friendships, and still fools millions today. I’m talking about get-rich-quick schemes and why Babylon’s gold lender called them ‘the fastest path to poverty.’"
Doug: "‘Turn $100 into $1M in 30 days! No skills needed! Just click here!’ Yeah… if it sounds too good to be true, it’s Babylonian-level bogus."
Dave: "Mathon, the gold lender, said it best: ‘Fantastic plans of impractical men promise unusually large earnings.’ Translation? Greed clouds judgment. Neuroscience shows that ‘lottery brain.’ the rush of imagining sudden wealth, literally shuts down rational thinking."
Doug: "Think about the South Sea Bubble of 1720. People mortgaged homes to buy stock in a company with no real business. Sound familiar? Theranos… FTX."
Dave: “Let’s look at the three types of get-rich-quick traps. Babylon saw them all. Modern scammers just rebrand them:
Type number one: The ‘Sure Thing’ Gambles. Then: Rigged horse races like Nomasir fell for. Now: ‘Pump-and-dump’ crypto coins, sports betting systems. Red Flag: ‘Insider tips’ from strangers.
Type number two: The Fake Partnerships. Then: ‘Invest in my caravan, that mysteriously vanishes. Now: ‘Be my Shopify business partner, just send $5K first. Red Flag: Pressure to act immediately.
And type number three: The Algorithmic Mirage. Then: Alchemists claiming to make gold from lead. Now: ‘AI trading bots’ that ‘never lose.’ Red Flag: No real track record or transparency."
Doug: "If someone really had a system to print money… why would they sell it to you?"
Dave: “Here is the devastating aftermath:
- 80% of day traders lose money (FINRA study).
- 95% of MLM participants lose money (FTC data).
- The average crypto ‘investor’ loses $2,000 in scams (Chainalysis)."
Doug: “Babylon’s antidote: The 5th law of gold. ‘Gold flees the man who would force it to impossible earnings.’ Mathon’s warning? Wealth grows slowly. The richest families in history (Rothschilds, Rockefellers) built fortunes over generations not overnight."
Dave: "Warren Buffett’s net worth? 99% earned after age 50. But try telling that to TikTok ‘millionaires’ selling courses."
Doug: “Dave, how do you spot and avoid these scams.”
Dave: “Here’s somethings to watch out for:
One - The ‘No Work’ Lie: ‘Passive income with no effort!’
Two - The ‘Secret’ Tactic: ‘What banks don’t want you to know!’
Three - The ‘Urgency’ Play: ‘Offer expires in 20 minutes!’"
Doug: "Here’s the good part. These are easy to avoid if you remember real wealth-building is boring and simple.
One - Save 10% automatically.
Two - Invest in what you understand.
Three - Compound interest is magic… but slow magic."
Dave: "Now, let’s talk about a game-changer for anyone serious about building wealth, not just dreaming about it, but actually doing it. The GoalGenius.ai Accountability Group. Imagine having a squad of high-vibe, action-takers who don’t just nod when you say, ‘I want to save more,’ but actually hold you accountable to pay yourself first, invest wisely, and make your money work for you, just like Arkad did in Babylon."
Doug: "Here’s how it works: Most people read books like “The Richest Man in Babylon”, nod along, and then… do nothing. With GoalGenius.ai, you’re not just learning the seven cures for a lean purse, you’re applying them with a group that keeps you on track. No more ‘I’ll start next month.’ This is ‘Transfer 10% to savings TODAY’ energy."
Dave: "Remember how Arkad’s friends asked, ‘Why are YOU rich and not us?’ The difference? He took action. I started saving 10% of every paycheck, no excuses. Six months later, I had doubled my income? That’s the power of accountability."
Doug: "Each week, you commit to one wealth-building action: negotiating a bill, setting up auto-investing, or finally tracking your spending like Arkad did. The group cheers your wins and AI course-corrects your slips."
Dave: "And if you’re thinking, ‘But what if I fail?’ that’s where the 3-Step Wealth Detox comes in:
1. Name It: ‘Is this spending aligned with my goals, or just impulse?’
2. Claim It: ‘If I skip this purchase, I can invest the difference.’
3. Tame It: ‘Delayed gratification = future abundance.’
Doug: "No fluff, no guilt, just progress. Our AI assistant doesn’t let you say ‘I’m bad with money’ without replying: ‘Here’s how to fix it.’"
Dave: "If you’re ready to stop admiring wealth and start building it, like Arkad did, GoalGenius Accountability Group is your secret weapon. Click on the link below or visit daveanddoug.com to learn more. Because Babylon’s riches didn’t happen by accident… and yours won’t either."
Doug: "Remember: Isolation breeds excuses. Accountability builds empires. You don’t have to do this alone."
