Money Master The Game - Tony Robbins - Investing Strategies For Beginners
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Hello, In this video we review the book; Money Master The Game by Tony Robbins.
Tony is an American author, philanthropist, and life coach. He owns more than 20 companies that produce a stunning $6 billion every year!
This book was written to understand how the most intelligent financial minds of our day successfully navigate through every economic condition. It includes interviews, with some of the best minds including Ray Dalio, and Warren Buffett.
Money, master the game is split into 7 topics, and within each, key considerations are made to help the individual achieve financial freedom, the topics are;
1) The Jungle.
2) Become an Insider, Learn the Rules.
3) The price of your dreams.
4) The Most Important Investment Decision.
5) Upside without downside.
6) The Billionaire’s Playbook.
7) Taking action.
“You have to make the shift from being a consumer in the economy to becoming an owner— and you do it by becoming an investor.”
The key to success is that your savings should be automatic, and put to work, creating a money machine that continually produces money.
It needs to be the first payment you make from each of your pay checks.
Regular, predetermined amounts which increase alongside your income.
In this example your savings earn interest or dividend payments, which are continually reinvested and compounded providing exponential growth over time.
The whole process should become automatic and is the first step in changing from a consumer to an investor.
10%, 20%, 30% is does not matter, there is no right answer says Tony, the key is getting started.
Once we start the automatic money machine, we need to know what to invest in, this is where Tony says we need to become an insider and learn the rules.
Tony Robbins suggests that mutual funds and institutional investments are bad, because the cost of them are high and the performance doesn’t always justify such friction.
He points out:-
"An incredible 96 percent of actively managed mutual funds fail to beat the market over any sustained period of time!"