This Book Could Teach You Almost Everything You Need to Know About Investing
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The Book That Taught Me About Financial Freedom
It wasn’t until recently that I really started to read books about personal finance, managing money and investing. I’ve always enjoyed reading, but I just hadn’t ever been exposed to any great recommendations. However, after I started my own journey in learning more about personal finance, I started to research which books come most recommended to learn more about this topic. One of the first ones that I came across was Money, Master the Game by Tony Robbins. Many people have their opinions about Tony Robbins, myself included, but this book really was a treasure chest of information, especially for someone like myself who had never read a book about personal finance before.
The book is broken up into 7 sections with each section providing different levels of information, such as why you should want to know about investing, breaking down common misunderstandings about investing, what is financial freedom and what are the best modes of investment as provided by interviews with successful investors. The 7 sections are as follows:
- Welcome To The Jungle: The Journey Begins with the First Step. This section is an overview of what the book will teach you and why it’s important to understand investing, even as an average, everyday person.
- Become the Insider: Know the Rules Before You Get in the Game. This part breaks down many common misconceptions about investing, such as buying mutual funds and using traditional brokerage services.
- What’s the Price of Your Dreams? Make the Game Winnable. This was one of the best sections which explains how you need to have financial goals and tasks, such as knowing how much money you need for retirement and how to speed up your investment returns. Without measurable goals, you can’t win the game.
- Make the Most Important Investment Decision of Your Life. This chapter discusses the different options for asset allocation, such as the proper stock/bond mix, risk tolerance and timing. Don’t worry if you don’t understand that last sentence as the book explains in simple detail :).
- Upside Without the Downside: Create a Lifetime Income Plan. Here the book discusses what you should be looking for in investment opportunities and how the average investor can get solid returns without too much risk. This is extremely important when you are investing for retirement and ensuring you don’t get caught up in a situation like the 2008 financial crisis.
- Invest Like the 0.001%: The Billionaire’s Playbook. This was probably my favorite part of the book which includes interviews with famous investors such as Ray Dalio and Paul Tudor Jones. These guys are absolute rockstars and provide great financial advice that any person can use.
- Just Do It, Enjoy It And Share It!. Here the book wraps up by reviewing some key points and emphasizes the importance of money and investing, which is being able to live your dreams!
Here’s a breakdown of the pros and cons from my point of view:
- Simplifies complex investing topics
- Gets you excited about taking control of your finances!
- Great interview content with some of those most successful investors in history, such as Ray Dalio and Paul Tudor Jones. These guys rarely provide insight to the public so this part makes the book worth the price.
- Very long read at 500+ pages, but you can read it in parts as you please
- Tony Robbins is a bit pushy on selling his own investment books and apps, but hey, it’s your choice to follow it or not
- Some people might disagree with his recommendations about annuities and insurance policies, but this is stuff you should research yourself anyways
If you want to get excited about your finances then this a great book to start with. If you are looking to learn about complex strategies, stock picking tips or how to invest in complicated deals like real estate then this isn’t the best book for you. This book is best for the average person who just wants to understand what options are available to them and how to invest for financial independence or retirement.
Let me know if you have any questions about the book. Leave a comment or send me an email!