MONEY Master the Game: 7 Simple Steps to Financial Freedom by Tony Robbins
“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.”
Spend less than you earn, and invest the difference in order to live the life you imagine.
As a Finance Major I have been pleasantly surprised with my latest two reads pertaining the complex and beautiful world of money, The Richest Man In Babylon as well as Tony Robbin’s MONEY Master the Game: 7 Simple Steps to Financial Freedom. As practical knowledge goes, MONEY Master The Game did more for me than four years of an expensive education. Tony, on the book itself mentions that “Execution trumps knowledge every single time”, which made me think a lot of all the education I had in the past, specifically financial education and how I had so much theory from my college years, but little practicality.
The edge of MONEY Master The Game over any over Financial book is that Robbin’s strength is inspiring to perform specific strategies towards the success of the individual. This book is no exception, in which he does not try to write a thesis on the financial markets as of today, but to decouple it, simplify it and place in your hands all of its power. As he mentions numerous times: Complexity is the enemy of execution.
Out of the 7 steps the two most important are Step 2 and 3, respectively Become An Insider: Know The Rules and Make The Game Winnable. Step 2 stung a bit, since my family lost money during the 2008 market crash, and finding out that representatives from Merril Lynch are not required by law to pursue my interest or make certain gains for our particular portfolio was for some time incomprehensible. My odds might have been better playing roulette at the Casino, (at least it would had been more fun). Is ironic that the same magical compound interest that is used to lure investors into under performing mutual funds is the same to destroy our future with many of its hidden fees. As of Step 3, Robbins does what he does best, inspire. He makes us realize that to reach what we want financially is not as far off as we envision.
As of Step 3 we could make the Game Winnable at any of these 5 levels of Financial Success. These levels are types of lives we could live without the necessity of having to work. Robbins does not advocate for a sedentary life for everybody, but imagine that you could go to work every day, because you want to and not because you have to :
1) Financial Security Basic necessities covered without having to work
2) Financial Vitality Basic and small luxuries covered without having to work
3) Financial Independence No need to work! Can maintain your current standard of living without stopping by the office.
4) Financial Freedom Who cares about maintaining your standard of living when you can live an even better life?
5) Absolute Financial Freedom This is it. This is planning for your wildest dreams: car, island, whatever it is, be sure that it is all possible.
That’s all really cool, but where do I put my money?
It is great when you have a solid belief, and then you read an extensive book that covers every sphere of the financial industry and it arrives at the same conclusion.
Recommendation vetted by Warren Buffet, The Oracle Of Omaha. Among these you should get one that mirrors the market as closely as possible, I recommend a Vanguard SP 500 Index Fund, then as Buffet also said, hold to it forever! And see your money grow an average of 8% every year. Amazing.
(The world has changed so much. Nowadays you can buy these with no cost in apps like Robin Hood.) As far as getting more information and planning your financial success, the book has an app available which is pretty awesome, in which it gives you the tools you need to avoid the traps of the financial market as well as further improve your future life.
How It Made Me Better
It gave me so much confidence in knowing that I am the master of my financial future and with time and planning (I have both), nothing is off limits!
This Under 5 Book Review is part of The Magic CEO Challenge, it has radically and positively changed my life and it can do the same for you. Get an Audible Subscription and transform your life forever.
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