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Money: Master the Game

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Money: Master the Game

7 Simple Steps to Financial Freedom

Simon & Schuster,

15 min read
10 take-aways
Text available

What's inside?

Tony Robbins shows you how to gain mastery over your finances by exercising seven basic principles.

Editorial Rating

8

Qualities

  • Applicable
  • Well Structured

Recommendation

Tony Robbins shines as a communicator in this inspirational personal-investing manual. He stands out for his pro-investor advocacy, folksy presentation, interesting quotes and nuggets of knowledge from discussions with 50 recognized investment gurus who buttress his seven-point financial plan. Robbins explains some typical investing advice – save, compound, learn the ropes, invest low, earn high, reduce risk – and offers some atypical guidance, as well, such as stressing charity as a complement to wealth creation. He acknowledges that he isn’t a professional money manager, so he synthesizes and passes along advice from experts in the context of his own specialty as a peak performance coach who supports using common sense to manage your money, like saving up and investing with care. Though also not in the business of giving financial or investment advice, getAbstract recommends this warm approach to building your fiscal future.

Summary

“The Journey Begins with this First Step”

People who’ve become wealthy have made mistakes, learned from them and made adjustments so they can weather volatile markets under a variety of economic conditions. Their methods require discipline and knowledge. America’s most successful investors suggest following seven steps to save and invest your money.

As you begin this seven-step learning process, consider the ultimate goal of saving for your retirement. Historically speaking, the concept of retirement is relatively new. The United States enacted Social Security during the Great Depression, when Americans’ average life expectancy was 62. Today, married Americans enjoy 50% odds that one spouse will live to age 92 and a 25% chance that one spouse will reach 97. That suggests the possibility of spending 25 to 30 years in retirement, though most people could not financially sustain such a long period of not working based on their savings from 30 years in the workforce. Retirement savings and the taxes on them both present major challenges.

Many people feel intimidated by investing and finance, and that fear may prevent them from becoming financially secure. ...

About the Author

Tony Robbins, a speaker, entrepreneur, philanthropist and best-selling author, founded more than a dozen firms in diverse industries. He donated his profits from this book to Feeding America.

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    V. B. 3 years ago
    Mastering money is a great skill and one needs to keep learning and keep updating skills and information. Setting maximum limit of money in one's life to lead a desired life style is essential therwise, one becomes slave of money and keeps chasing it, and in the end of life regrets for having wasted too much time in accumulation of money, which he/she does not know how to use it properly. Money has 3 routes: Enjoy life with good comforts, donate, or it will be of no use to you and may get used/drained off by others. So be wise to handle and use money wisely. Donating money must be a part of life as its one of the great uses of it and gives real joy in helping others.
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    D. D. 10 years ago
    I liked Tony Robbins idea seek small investment with high risk and big rewards. Mix this with Rich Dad, Poor Dad and you get a better picture of money. Tony's work on Money reminds me when I was a university student I asked the richest man in my city--what is your story with money? He said it was simple--when he was in Grad School he put up a map of world and threw darts at it until he found a small city in the world that was growing and had potential. He moved there, started his business and used the profits to buy up property on its fringes. Later on that area was bought to build airport and he never looked back. The key to money in my opinion is to move where the money is growing and start a business and buy real estate there. Where is the money growing fastest in world? Put up a map and throw darts and pick your next location. Master the game of life!
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      3 years ago
      Great advice