Tony Robbins is a world-renowned author with 6 internationally best selling books. He has also empowered 50 million people from 100 different countries through is audio, video & life training programs.
About the Book!
“After interviewing fifty of the world’s greatest financial minds and penning the #1 New York Times bestseller Money: Master the Game, Tony Robbins returns with a step-by-step playbook, taking you on a journey to transform your financial life and accelerate your path to financial freedom. No matter your salary, your stage of life, or when you started, this book will provide the tools to help you achieve your financial goals more rapidly than you ever thought possible.”
Important Notes from the Book.
The market has a pattern; it never stays down forever. Your greatest potential lies within the bleakest hours.
A correction happens approximately once a year.
A bare market happens ever 3-5 years
Market lows are nothing to be afraid for they are full of potential and possibilities.
The Playbook – Core Four “Rules” to Follow
1. Don’t Lose – How can I avoid losing money?
2. Asymmetric Risk/Reward – Your rewards should outweigh the risks
3. Tax Efficiency – Is it net (after tax) or Is it gross (pretax)
4. Diversification – across different asset classes, within asset classes, across markets, countries, currencies and time.
LOW COST INDEX FUNDS – US stocks, International stocks, emerging-market stocks, real estate investment trusts, long-term US treasuries & Treasury inflation-protected securities.
CONSIDER: Owning 15 unrelated investments’ reduces risk by 80%
ASSET ALLOCATION – never want to be forced to sell when stock are down
Bonds = loans
Federal government = treasuring bond
City, state, country = municipal bond
Company = corporate bond
Less dependable company = high-yield bond
What asset classes will give you the highest probability of getting from where you are today to where you need to be?
- how much you are willing and able to save
- how much money you’ll need
- when you’ll need it
** a 7% annual return over 15 years is great**
1. Asset allocation drives returns
2. Use index funds for the Core of your Portfolio
3. Always have a cushion
**never underestimate the awesome power of disciplined saving combined with long-term compounding**
Advice – rebalance once a year – 60% stocks & 40% bonds
QUESTIONS TO CONSIDER
Can I get disproportionate rewards for the least amount of risk?
What’s he potential upside & what’s the risk on the downside?
Where are the breaking points for other investors?
When will the price get so low or so high that they will get out?
What’s the entry point? Where are your stops?
What don’t I know?
Where could I be wrong?
What am I not seeing?
What am I failing to anticipate?
Who else can I speak with to deepen my knowledge?
Living Life Fruitfully
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"The greatest threat to our planet is the belief that someone else will save it." --Robert Swan