MONEY Master the Game: 7 Simple Steps to Financial Freedom (107 page)
Read MONEY Master the Game: 7 Simple Steps to Financial Freedom Online
Authors: Tony Robbins
Investment Highlights:
Berkshire Hathaway: Icahn Enterprises L.P., August 2014
Investment Highlights:
Icahn Enterprises L.P., August 2014
Icahn Chart:
Icahn Enterprises L.P., August 2014
David Swensen Photo:
Michael Marsland, Yale University
Warren Buffett Photo:
Kristoffer Triplaar/Sipa USA
Ray Dalio Photo:
Mike McGregor
T. Boone Pickens Photo:
The Milken Institute
Marc Faber Photo:
Getty Images
Charles Schwab Photo:
Getty Images, Chip Somodevilla
Sir John Templeton Photo:
Getty Images, Ron Bull
Ramirez Occupy Cartoon:
By permission of Michael Ramirez and Creators Syndicate, Inc.
This book is designed to provide information that the author believes to be accurate on the subject matter it covers, but it is sold with the understanding that neither the author nor the publisher is offering individualized advice tailored to any specific portfolio or to any individual’s particular needs, or rendering investment advice or other professional services such as legal or accounting advice. A competent professional’s services should be sought if one needs expert assistance in areas that include investment, legal, and accounting advice.
This publication references performance data collected over many time periods. Past results do not guarantee future performance. Additionally, performance data, in addition to laws and regulations, change over time, which could change the status of the information in this book. This book solely provides historical data to discuss and illustrate the underlying principles. Additionally, this book is not intended to serve as the basis for any financial decision; as a recommendation of a specific investment advisor; or as an offer to sell or purchase any security. Only a prospectus may be used to offer to sell or purchase securities, and a prospectus must be read and considered carefully before investing or spending money.
No warranty is made with respect to the accuracy or completeness of the information contained herein, and both the author and the publisher specifically disclaim any responsibility for any liability, loss, or risk, personal or otherwise, which is incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this book.
At the time of this publication, the author is in discussions with Stronghold Wealth Management to enter into some type of business partnership. However, at this time, the author is not an owner of Stronghold, nor does he have any type of referral for compensation relationship.
In the text that follows, many people’s names and identifying characteristics have been changed.
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Interior design by Ruth Lee-Mui
Cover photo by Richie Arthur
Author photo by Navid
Cover design by Impact Republic
Library of Congress Cataloging-in-Publication Data has been applied for.
ISBN 978-1-4767-5780-3
ISBN 978-1-4767-5787-2 (ebook)
Table of Contents
Foreword by Elliot Weissbluth, founder and CEO of HighTower
Introduction by Marc Benioff, founder and CEO of
SECTION 1
WELCOME TO THE JUNGLE: THE JOURNEY BEGINS WITH THIS FIRST STEP
Chapter 1.1: It’s Your Money! It’s Your Life! Take Control
Chapter 1.2: The 7 Simple Steps to Financial Freedom: Create an Income for Life
Chapter 1.3: Tap the Power: Make the Most Important Financial Decision of Your Life
Chapter 1.4: Money Mastery: It’s Time to Break Through
SECTION 2
BECOME THE INSIDER: KNOW THE RULES BEFORE YOU GET IN THE GAME
Chapter 2.0: Break Free: Shattering the 9 Financial Myths
Chapter 2.1: Myth 1: The $13T Lie: “Invest with Us. We’ll Beat the Market!”
Chapter 2.2: Myth 2: “Our Fees? They’re a Small Price to Pay!”
Chapter 2.3: Myth 3: “Our Returns? What You See Is What You Get”
Chapter 2.4: Myth 4: “I’m Your Broker, and I’m Here to Help”
Chapter 2.5: Myth 5: “Your Retirement Is Just a 401(k) Away”
Chapter 2.6: Myth 6: Target-Date Funds: “Just Set It and Forget It”
Chapter 2.7: Myth 7: “I Hate Annuities, and You Should Too”
Chapter 2.8: Myth 8: “You Gotta Take Huge Risks to Get Big Rewards!”
Chapter 2.9: Myth 9: “The Lies We Tell Ourselves”
SECTION 3
WHAT’S THE PRICE OF YOUR DREAMS? MAKE THE GAME WINNABLE
Chapter 3.1: What’s the Price of Your Dreams?: Make the Game Winnable
Chapter 3.2: What’s Your Plan?
Chapter 3.3: Speed It Up: 1. Save More and Invest the Difference
Chapter 3.4: Speed It Up: 2. Earn More and Invest the Difference
Chapter 3.5: Speed It Up: 3. Reduce Fees and Taxes (and Invest the Difference)
Chapter 3.6: Speed It Up: 4. Get Better Returns and Speed Your Way to Victory
Chapter 3.7: Speed It Up: 5. Change Your Life—and Lifestyle—for the Better
SECTION 4
MAKE THE MOST IMPORTANT INVESTMENT DECISION OF YOUR LIFE
Chapter 4.1: The Ultimate Bucket List: Asset Allocation
Chapter 4.2: Playing to Win: The Risk/Growth Bucket
Chapter 4.4: Timing Is Everything?
SECTION 5
UPSIDE WITHOUT THE DOWNSIDE: CREATE A LIFETIME INCOME PLAN
Chapter 5.1: Invincible, Unsinkable, Unconquerable: The All Seasons Strategy
Chapter 5.2: It’s Time to Thrive: Storm-Proof Returns and Unrivaled Results
Chapter 5.3: Freedom: Creating Your Lifetime Income Plan
Chapter 5.4: Time to Win: Your Income Is the Outcome
Chapter 5.5: Secrets of the Ultrawealthy (That You Can Use Too!)
SECTION 6
INVEST LIKE THE .001%: THE BILLIONAIRE’S PLAYBOOK
Chapter 6.1: Carl Icahn: Master of the Universe
Chapter 6.2: David Swensen: A $23.9 Billion Labor of Love
Chapter 6.3: John C. Bogle: The Vanguard of Investing
Chapter 6.4: Warren Buffett: The Oracle of Omaha
Chapter 6.5: Paul Tudor Jones: A Modern-Day Robin Hood
Chapter 6.6: Ray Dalio: A Man for All Seasons
Chapter 6.7: Mary Callahan Erdoes: The Trillion-Dollar Woman
Chapter 6.8: T. Boone Pickens: Made to Be Rich, Made to Give
Chapter 6.9: Kyle Bass: The Master of Risk
Chapter 6.10: Marc Faber: The Billionaire They Call Dr. Doom
Chapter 6.11: Charles Schwab: Talking to Chuck, the People’s Broker
Chapter 6.12: Sir John Templeton: The Greatest Investor of the 20th Century?
SECTION 7
JUST DO IT, ENJOY IT, AND SHARE IT!
Chapter 7.1: The Future Is Brighter Than You Think
Chapter 7.2: The Wealth of Passion
