1. Money: Master the Game

By Tony Robbins

2. Summary

- Turn a Small nest Egg into a mountain of cash.

  • Anyone can reach financial freedom if they're dedicated, willing to save and ready to follow some steps.

    • Diversify your investments

    • Seek advice you can trust

    • Be prepared for different financial "seasons"

    • Get yourself insured

  • ULTIMATE GOAL: Spending your money the way you want.

    • THE THREE BUCKETS: Where you need to concentrate your investments​

      • First Bucket: Security Bucket. Most secure investments like bonds. Low risk, low reward.​

      • Second Bucket: Growth Bucket. A little riskier like equities, meaning stocks, and shares. Need to sit on these investments. Medium risk, Medium reward.

      • Last Bucket: Dream bucket. This bucket helps improve your lifestyle. put some profits of other buckets into this one. 


3. Compounding your Money

- Exercising your money is doing stuff with the money you make, Lazy money is letting it sit in the bank. 

  • Retirements like Pension and retirement funds will not always help you out. You have to prepare yourself for the future and always keep your finances in mind. 

  • COMPOUNDING: means letting your money develop year after year, by allowing interest to build up.

    • Benjamin Franklin gave $1,000 in 1790 for Boston and Philadelphia. They could not touch it for 100 years. in 1890 the amount was worth $6.5 Mil.

  •  ​Invest monthly, even if it's not a lot. It's like climbing a Mountain mentioned in the book... at first it's hard and you won't seem to be getting anywhere, but when you reach the top, you'll suddenly realize why you worked so hard.

4. Freedom Funds

- What is your financial goals? How much money do you think you could have to feel completely free from financial stress? Be Realistic.

  • Goal 1: Generate enough money from investments to cover basic bills, living costs.

  • Goal 2: Generate enough to cover living costs + fun things like clothing or entertainment.

  • Goal 3: Generate enough for financial independence. Just off compounding interest. 

    • Average american adult spends $34,688, so freedom funds would have to be $640,000.​

  • Goal 4: Don't make money to FREE you from work, but to improve your lifestyle.

  • Goal 5: Absolute Financial Freedom is when you can spend money on anything you want at any time!

5. Guide your Path

- People overestimate what they can accomplish in a year, but underestimate what they can accomplish in a decade. Make sure you are true to yourself when guiding your path.

  • Self-doubt will happen and might distract you. 

  • Short-term thinking: Don't be impatient. 

  • Lesson your tax burden and make sure you are writing things off. 

  • Follow smart investors to guide your path, always learn from people who have succeeded before you. Don't invest money you need.

    • Ray Dalio (Bridgewater Associates) ALL SEASON ALLOCATION.​

      • The market will change, just like seasons. Be aware of this.​

        • Put 7.5 % of your assets in gold.​

        • Put 7.5 % in commodities. Both good investments.

        • Put 30% in stocks definitely in high growth

        • & Put 55 % in US bonds.

        • Convert some savings in annuities where an insurance company guarantees future payments in exchange for immediate payments.

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P&A: Results may vary person to person and based upon your work ethic and how much you care. Are you humble enough to say you are unbalanced? I'm here to guide with examples.

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