One of the best books on financial planning is The Richest Man in Babylon, written by George Clasen and first published in 1926. The book consists of a few stories set in ancient Babylon.

The first and main story describes how the lowly scribe Arkad becomes the richest man in Babylon.  Algamish the Money Lender comes to Arkad and requests a rush job on producing a particular scroll.  Arkad promises to work through the night to finish the scroll and asks in return that Algamish teach him how to become wealthy.   Alguamish says to bring him the scroll in the morning.

 One day later

Arkad brings the finished scroll to Algamish.

Algamish:  Excellent.  Now I will teach you the rules of gold.  Rule number one is that you must pay yourself first, at least 10 for every 100.  Now go, and return in one year to report on your progress.

One year later

Arkad returns to provide a progress report. 

Arkad:  I saved 10 for every 100.

Algamish:  Excellent!  What did you do with your savings?

Arkad:  I gave a big party.

Algamish:  Fool!  You have eaten your gold.  You must invest your savings and make your gold work for you.

 One year later

Arkad returns to provide a progress report. 

Arkad:  I saved 10 for every 100.

Algamish:  Excellent!  What did you do with your savings?

Arkad:  I gave it to Azmur the bricklayer who planned to import rare gems.

Algamish:  Fool!  What does the bricklayer know about rare gems?  You have ripped up your wealth tree by the roots!

One year later

Arkad returns to provide a progress report. 

Arkad:  I saved 10 for every 100.

Algamish:  Excellent!  What did you do with your savings?

Arkad:  I gave it to Aggar the shieldmaker who used it to buy bronze.  I receive interest every quarter.

Algamish:  Excellent!  Then what did you do?

Arkad:  I hosted a big party.

Algamish:  Fool! You have eaten the children of your savings!

Two years later 

Arkad returns.

Algamish:  well Arkad, are you wealthy yet?

Arkad:  No, but I have saved and invested and reinvested the proceeds.

Algamish:  you have learned the rules of gold.  You know how to make money, how to grow it and how to protect it.  You are now ready for a responsible position.  Become my partner and manage my holdings, for I am old and need help.  You will be my heir.

This is how Arkad became the richest man in Babylon.

Lessons

Save • Invest • Re-invest

Can anyone do this?

Become the richest person?  No.  Create family wealth?  Yes.

 Is it harder today than in ancient times? No, it is easier today because the overall standard of living is much greater.  Today, the median income is roughly 30 times what it was in ancient times (or, in fact, any time prior to 1800).