Get the book on amazon: Money Master The Game
About the Book
This book was written after the market crashed in 2008. Tony Robbins saw thousands of families lose their houses, retirement savings, and all their fortune. Tony was sad and wanted to help people, so he set out on a journey to interview the world’s richest people – billionaires if you may – and he put their best advice in the book.
What I love about the book is that Tony reveals all the common mistakes people make when managing their money. He also shows you how mutual funds fees are actually a lot higher than they appear and why having one million dollars in your 401k plan doesn’t mean you have one million dollars.
I highly recommend you check out the book if you want to make a financial fortune during your life and even retire 10-20 years earlier.
This book holds the key to making a financial fortune and also what to do with it. Tony did a great job with this book and I learned so much from it, as you can see from the notes below.
Here are my notes
– Compunded return is awesome. Start investing when you’re young.
– It’s hard to keep large sums of money.
– Tax and fees efficiency is critical to growth.
– Seek the unicorns and learn from them. The best at their trade.
– Don’t try to beat the masters in their own game.
– Know from the start you’ll be wrong and prepare.
– Define the system before you receive the money to avoid temptetion.
– Asset allocation is a hugely important decision for investing.
– “it’s almost certain that whatever you’re going to put your money in, there will come a day when you will lose fifty percent to seventy percent.”
– Choose asset allocation that’ll allow you to sleep well at night
– Have a dream bucket for fun now or helping others
– Be fearful when others are greedy, and be greedy when others are fearful
– Spread investments over time i.e. every month –> higher profits and less risk
– Rebalance your portfolio every 6/12 months, remember 6 months can increase taxes
– Top investors are obssessed with not losing money, risk 1 per 5 – little to make a lot, diversify, always hungry for more
– Provide value and think from your customer’s point of view
What You Will Learn From The Book
There are a few things you’ll learn from the book, and they’re all easily worth the price of the book by themselves
- How self made billionaires think and manage their money
- 9 financial myths in the finance industry that most people believe
- How to set your dream life and calculate how much money you’ll need for it
- How to create a lifetime income plan
- Secrets of the ultrawealthy (that you can use too)
- How to invest like the .001%: The billionaire’s playbook
- The 7 simple step checklist for success
Phew, yep a lot of goodies in this book.
Favorite quotes from the book
- “The secret to wealth is simple: Find a way to do more for others than anyone else does. Become more valuable. Do more. Give more. Be more. Serve more.”
- “If no mistake have you made, yet losing you are . . . a different game you should play. —YODA”
- “what matters is that you master money and it doesn’t master you. Then you are free to live life on your own terms.”
- “You either master money, or, on some level, money masters you!”
- “Money can’t change who we are. All it does is magnify our true natures. If you’re mean and selfish, you have more to be mean and selfish with. If you’re grateful and loving, you have more to appreciate and give.”
Tony has done us all a great service by writing this book. If you’re interested in becoming wealthy and financial independent then this book is for you. It lays out the common mistakes to avoid when it comes to your money and how to make sure you play in the right game. You can’t win if you’re playing in the wrong game. This book will guide you along the right way.
You can get the book here – Money Master The Game: 7 Simple Steps to Financial Freedom
What do you think? Let me know in the comments below! I love reading and responding to them.
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