If you want to achieve and maintain financial freedom, you must start by building your money machine.
If your money doesn’t work harder than you do, then it’s time to build a machine that makes you money even when you sleep.
Through a personal portfolio, you can master the game of money and begin your journey to financial freedom and investment independence.
And providing the opportunity to generate a continuous income to live the lifestyle you want, but how can you achieve that?
There are 7 steps to financial independence. 1 Become an investor 2 Learn the rules of investment
3-know the numbers 4-allocate the investment 5-make a plan 6-start investing today 7-enjoy your future because it will be a great place
Chapter one
Make a decision to become an investor, not just a consumer
If you really want to take control of your money,
You need to know how it works for you.
If they are simply in the account, they are not doing anything for you.
Even a small amount of money can be amplified by the power of compounding, and the best way to unleash this power is to learn how to become an investor.
And start making your money machine. In the words of Anthony Robbins
If you work for a living, you trade your time for money, honestly, this might be the worst deal you can make.
Why? You can always make more money, but you can’t get more time.
But if you stop working, you stop making money.
Compounding the money is the best way to make your money work for you. It simply means letting your money evolve over the years
What is the first step to this financial freedom? Decide how much of your current income you will save to start building your money machine
And don’t think of this money as savings. Robbins calls it the Freedom Fund, because freedom is what that money will buy you, now and in the future.
Save a fixed amount each time you get your salary, then invest it smartly, and over time you will start living where your money works for you, instead of you working for it.
So, what is the right percentage for you to save? It’s up to you, whether it’s 10 or 20 percent, you alone decide.
If you’re thinking that you can’t save a penny from your paycheck, you’re not the only one. The easiest way to get started is to create a payment that automatically pours into your savings account.
You don’t even see money that way
The point is, Robbins says, you can save no matter how much you earn
Chapter II
Learn the investment rules
Once you decide to start investing, it can be difficult to know where to start, as there are so many options. Should you get help from a professional? What if you invested in the wrong thing?
Many beginners fall prey to the investment myth. And, as Robbins says, it is time to expose these myths, in order to make sure that you will get the best return for your money.
These myths are important, if you are aware of them and their falsity, you can greatly enhance the performance of your money machine.
Robins advises you not to enter the game until you know its rules. Ignorance is not bliss. Ignorance is pain. Ignorance is struggle. Ignorance is giving away your wealth to someone who does not deserve it.
Remember that your goal should be to reach financial freedom.
The first myth is related to the mutual fund industry. Professional money managers in this industry promise that they can achieve better returns.
This is far from the truth, as 96% of managed funds fail to beat the market over any sustainable period of time.
Others look to brokers to help them with their investments. Brokers work to make money through their commissions on the investments they recommend
They simply don’t have your best interest in mind.
Only a trusted agent has a legal obligation to provide you with independent advice.
So I only work with trusted agents, not brokers
Many also believe that saving from self-employment for retirement will give them financial freedom.
Saving 3 percent of your income each year will not build any permanent money.
This will not be enough to give you the financial freedom you desire, but do not be fooled into thinking that you have to take big risks to get big rewards.
Chapter III
- Make the game winnable by knowing the numbers
What does it take to be financially free?
Few people really know what it takes to become financially independent.
To make it easier, there are five different goals you can pursue.
The first goal of financial security is to have enough money to cover the basics such as food, transportation, etc., basically covering all the monthly dues.
The second goal – financial vitality, is that you have covered all the expenses of the first level, and you also have the money left, and you can be somewhat indulgent in your expenses
Like buying clothes, and even a few luxuries. You have all your needs and a little more
The third goal – financial independence is that you no longer have to work, as you generate income from your investments to live a wonderful lifestyle, you can stop working and do whatever you want
Goal Four – Financial freedom is when you have investments
Not only is her income sufficient to live the lifestyle you want, but she also allows you to spend on large luxury items, including large donations, luxury cars, and luxurious vacations.
Fifth Goal – Absolute Financial Freedom When you are able to do anything you want at any time you want without any restrictions, at this level, you and your family can live the life of your dreams.
And to really make a difference in the world
Once you’ve sat down and worked out each of these levels, you can begin your plan for financial freedom
The biggest problem many people face is when they see the numbers, they assume that these goals are too far away, so there is no point in trying.
Once you have a plan, your next step is to figure out how to achieve your financial dreams faster than you ever thought possible.
There are four ways you can speed up the process –
1- Find a way to earn more than your expenses and invest the difference. Increase your own value by investing in yourself.
Retool your career and learn how to deliver better solutions, and you’ll soon be in a position to earn more
-2- Get more money out of your investments, by reducing fees and taxes.
Then reinvest the difference, even a 2 percent cut can mean a lot over the years
-3-You can restructure your investment until you get better returns.
Do this by making investments that have a lot of positive potential and little or no risk
-4-You can change your lifestyle to spend less money on daily living expenses, and invest the difference
the fourth chapter
Make your most important decision. How to allocate your investments
Now that you’ve saved the money in your Financial Freedom Fund, what are you going to do with it?
It’s time to start investing wisely, where you put your money or where you allocate your assets, is one of the most important decisions you can make
For Robbins, asset allocation is the most important decision of your life, more important than any single investment you will make in stocks, bonds, real estate, or anything else.
Anyone can get rich, identifying assets is how you stay rich with them.
The best way to start is to visualize defining your assets and putting them into three separate baskets
The first basket is the safety basket.
These are investments that give you peace of mind that they won’t grow very quickly, but the money will be there when you need it.
The second is the growth basket, where you can make investments that involve higher risks, but if you succeed, you will achieve greater returns.
It is important to prepare for the possibility of losing everything you put in there.
The third is your dream basket, where you will invest some of your proceeds from other baskets. The proceeds from this basket can finance the lifestyle you dream of.
You must decide for yourself how much to allocate to each basket, and this amount will change over the course of your life.
Many investors advise that the percentage invested in the safety basket is the number of years of your life.
For example, if you are 40 years old, put 40 percent in the safety basket, and 60 percent in the growth and dream baskets, and so on.
When allocating your assets, ask yourself how much risk you can take at this point in your life.
The answer to this question will change as you age, so your investment allowance should change as well
Chapter V
Create a continuous income plan
You don’t have to worry if you remake what others have already made before you
Many other people have achieved their financial freedom, you can simply follow their steps to achieve similar results for yourself.
When you analyze what other investors have done, you will likely find a better chance of achieving the targets and achieving greater success.
Take Ray Dalio, the world’s largest hegemonic manager, who has developed an investment portfolio that delivers the highest returns with the least amount of risk.
Similar to the way the seasons change. Dario’s plan aims to make money despite market fluctuations, and that’s why his plan is called the investment portfolio for all seasons.
According to the all-season portfolio, you should invest in stocks especially in the high season when you see higher returns and invest in gold and in different commodities, and these are often smart investments even during a period of high inflation.
Using this approach offers you the best odds for a smooth climb up your financial mountain
When your investments generate stable and continuous income for you. Next, you need to make smart use of annuities to generate a continuous stream of income. It is smart to use annuities to get you through the bad times.
When you combine annuities with an all-season portfolio, you’ll have excellent retirement financing.
There is no better time than now to begin your journey to financial freedom.
You have the potential to generate continuous income, so keep listening to learn how you can start investing today
Chapter six
Start investing today
Fortunately, Tony Robbins has done the homework for you and will tell you what to do.
You should be looking to emulate what the most successful investors have already achieved, you can follow their blueprint, and do the same with your investment portfolio.
Robbins has interviewed more than 50 self-made billionaires, Nobel Prize winners, investment gurus and financial legends.
, And each of them had the same four obsessions, each of them focusing on achieving extraordinary returns while not losing money.
They don’t believe that big risks mean big returns
. They understand that you don’t have to take a risk to make a decent amount of money if they take a risk. They expect to get a return of at least $5 for every dollar they risk.
Big investors do their homework, anticipate changes, and constantly look for opportunities that regular investors often don’t see.
They never stop learning. Even though these billionaires have a great deal of wealth, they know that there is always something to learn.
They continue to grow and develop, and they never lose their thirst for success
To motivate and help you, here are some billionaire investment tips and tricks.
Carl Ikon says – Don’t just look for opportunities. Move in and make it your own. David Swanson says – Asset allocation actually accounts for over 100% of investment returns.
Paul Theodore Jones says, The biggest trick in investing is how to prevent losing everything, getting out of any investment that stays below the 200-day average.
Chapter VII
Get started… enjoy the future
It would be a great place, the future is bright, think of how far the world has come in the past few decades and think of what the future might look like.
The new technologies that are beginning to bear fruit now will create an era of prosperity, in which we will have unlimited possibilities, which seemed almost impossible only a decade ago.
. With these endless possibilities, you have the opportunity to leave a personal legacy that will continue to grow long after you are gone.
You have the opportunity to master the money game and achieve financial independence.
But happiness is also built on your relationships and good health. You need balance in your life.
With this in mind, consider the following questions. What should I focus my time and energy on now?
Focus more on what you have and less on what you don’t. Not only will you be happier, but you’ll achieve more.
Focus on what you can control, not what you can’t
What does mastering the money game mean to me and my family?
See the events of your life as a means to a new beginning rather than an end to something old.
Once you change the meaning you give to things, you will begin to change your life as well
What should I do today to move in the right direction?
What you do is more important than what you know. If you want to shape your future, you need to commit to taking action in the right direction
What can I do today, to give to others as well?
Think about the thing or field that you love and are passionate about, and determine how you can leave a legacy in this field.
Investing in others will generate great happiness. Steve Jobs once said- I don’t care about being as rich as a dead man, going to bed at night knowing I’ve done something wonderful is what really matters to me.
Likewise, Tony Robbins advises that you live life fully while you are at it,
And try everything you can. Take care of yourself and your friends. Have fun. Go crazy. Be weird, go out and try and you may fail
You’re going to miss a lot anyway… the journey itself is fun. Take the opportunity to learn from your mistakes,
Find the cause of your problem and eliminate it.
And don’t try to be perfect. Just be an excellent example as a human being
You have read the summary of the book Money… Master the Game by Tony Robbins
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