Tony Robbins, arguably the most recognizable life and business strategist and guru, is back with a timely, unique follow-up to his smash New York Times bestseller Money: Master the Game.
Market corrections are as constant as seasons are in nature. There have been 30 such corrections in the past 30 years, yet there’s never been an action plan for how not only to survive, but thrive through each change in the stock market.
Building upon the principles in Money: Master the Game, Robbins offers the reader specific steps they can implement to protect their investments while maximizing their wealth. It’s a detailed guide designed for investors, articulated in the common-sense, practical manner that the millions of loyal Robbins fans and students have come to expect and rely upon.
Few have navigated the turbulence of the stock market as adeptly and successfully as Tony Robbins. His proven, consistent success over decades makes him singularly qualified to help investors (both seasoned and first-timers alike) preserve and add to their investments.
Upon purchasing the book, I expected to learn a lot about Financial Freedom & how to get there. I did, the main take-aways for me was;
- Index Funds will always beat 97% of Fund Managers
- Be careful of Financial Advisers - Look for Fiduciary Standards (IFAAA in Australia)
- Asset Allocation - Diversification of your portfolio to avoid loss in hard times such correction and pessimistic times.
- Careful of "Management Fees" - The difference of 1% in fees can mean $100,000 over 30 years!
Tony also writes about the 4 core principles that he found top investors use. The biggest for me was the asymmetric risk/reward, meaning never risk your money for a loss. It is much harder to make more money to invest AGAIN than it is to make a smaller return or break even.
Overall, my understanding of investments and how to reduce my risk has been greatly changed and my mindset about the markets have been shifted. I do not fear corrections or crashes, as that is when good valued companies "go on sale".
What I was not expecting, was the ending of the book. A spiritual touch to creating not just Financial Freedom, but freedom in life. A cognitive shift that can help you see the greatest parts of life for a successful life instead of a life of suffering. This is because even the richest Billionaires are sometimes miserable, which shows that even money can' always make you happy.