Money Master The Game is a personal guide to becoming financially independent. Robbins has interviewed the world’s best billionaires and he has shared all the knowledge and the lessons from those interviews in his book.
The book has 688 pages and it has everything that you always wanted to know about money, investment, business, savings, and your relationship with your money.
So let’s decode the 688 pages in a compact way.
Let me first say thank you for reading this. This will be a weekly newsletter, hope you enjoy it. Now I will see you every Sunday at 9:00 AM (IST).
MONEY Master the Game Summary
Imagine learning about money from people like Warren Buffett, Ray Dalio, Bill Gates, Jeff Bezos, Mark Zuckerberg, and Paul Tudor Jones at your home by just reading the book. This is MONEY Master the Game by Tony Robbins.
By the way, the book is divided into 7 parts, and each part will give you a different perspective on money, investment, and even savings.
One of the biggest lessons for me from The Money Master the Game by Tony Robbins was “Start Your Investment journey as soon as you can, There is no right time for investment, don’t wait for the right time, the right time is RIGHT NOW”
I read this book during the COVID-19 and this book has made me more money than anything else on the earth. I have invested whatever money I had during 2019 in the Indian stock market than I have ever before.
I don’t know when we will get investment opportunities like COVID-19 (that was the saddest year of my life as well, I lost my family members during this period. So don’t take the “opportunities” word the wrong way) Again this is the right time for you to learn about money, so you don’t miss any opportunities in future.
Note: Make sure you read the Review section before you buy this book.
I’m keeping my promise, this is the mini-ebook of MONEY Master the Game by Tony Robbins. So download right now and read wherever you want for free. Happy Reading.
People Around You
Tony Robbins says “When you have a good amount of money, people around you whether its bankers, financial advisers and even mutual funds managers will try to sell you something and this is that time when you learn about money”
It’s true right, if you have 10 Lakh in your bank account and you don’t know what to do with then at least, your bank manager will call you and give you advice on how you can make FD or any sort of investment within the bank.
Banks won’t give you high interest but still, some people will create FDs because they feel the Stock Market is too risky and is only for rich people.
Related: 15 Must-Read Books in Life
This is all wrong, the stock market is for everyone and everyone can invest whatever amount they can. The only thing everyone has to do is learn how the stock market works and what is the right way to invest money.
So next time when you have a good amount of money in your bank account, do a little bit of research. Maybe you can read a few books on personal finance or read articles.
The key part here is to have some knowledge about investment, so people around you don’t fool you.
Always be a student, learn something new every day because no one knows what will come next.
Be a Owner
It’s okay to have fun and spend money on the things you want but it’s not okay to spend all of your earnings every month and wait for the next paycheck.
During COVID-19, people were afraid to invest money in the stock market because it was going down and no one knew what would happen next.
This was also the time when investors were investing money in the stock market and they made a lot of money including myself.
So as the author says, don’t be a consumer all the time, don’t be that guy who spends all the money on needs and wants.
Invest a few amount of money every month where you feel safe whether it’s stock market, bonds, or anywhere else but invest because the value of your money will decrease over time because of inflation.
When it comes to investment, most people think Mutual funds are safer compared to the stock market and the reason behind this is “advertisement” done by the government.
You may have heard “Mutual funds Sahi hi hai (Mutual funds are safe)”.
Now, if you want to be on the safer side then you can also invest in Index Funds. Just pick a few index stocks and invest for a long time, like, 10 to 20 years and you will get more returns than the Mutual funds.
Related: The Personal MBA Summary
Now, this is not financial advice but you can also take a look at NiftyBees which is nothing but Nifty 50.
The moral of the story is, acquire the knowledge and you don’t have to ask anyone about how to invest money.
Price Of Your Dreams
This is a widely discussed topic and I also shared the same in Your Life or Your Money Book Summary. So we won’t spend more time here.
Tony Robbins simply says, have an idea about how much money is enough for you. You don’t need 100 crore to live a comfortable life.
For example, if you’re earning Rs 30000 every month and if you’re living a good life where you’re eating good food, living in a good house and you’re also going on vacation when you have time.
So Rs 30000 is good money for you but if you want to live a luxurious life then you have to earn more money.
Also, keep in mind that more money doesn’t mean more happiness. Just don’t believe in that myth.
Define how much money is enough because the fact is Money will never give you happiness but freedom will.
So do yourself a favor and have a good amount of money in your bank account, so you don’t have to worry about money
That amount doesn’t need to be 1 crore. It can be 50 Lakh or even 10 Lakh. You just need to live a comfortable life with whatever money you have and if you want to live a luxurious life then earn more.
Again, keep in mind that more money doesn’t mean more happiness.
If you’re earning money right now then start investing right now, The sooner you do it, the better it is.
Warren Buffett started investing at the age of 11. Now, this doesn’t mean you can’t start your investment journey at the age of 25, you can, You just have to start right now.
You don’t have TIME the market because you’re not investing for the short term, you’re investing for a long time. The long time is 15 to 20 years.
During this time, you will play around with your portfolio, you don’t have to be stuck with the same company. Over time, you will learn and improve your investment strategy.
Let’s say, your age is 25 and you started investing Rs 5000 every month in the stock market for 25 years. This means you will invest till you’re 50.
- Your Monthly investment is Rs 5000
- Investing for 25 years
- Interest is 13%
Now, if you want to take risks then interest rates can go up to 15% or even 20%. I have just selected 13% which is an archivable return.
- After 25 Years you have invested Rs 15,00,000 (Rs 15 Lakh)
- Interest after 25 years is Rs 98,57,175 (Rs 98.57 Lakhs)
- Rs 15,00,000 Investment + Rs 98,57,175 Interest = Rs 1,13,57,175 (Rs 1.13 crore)
Now, let me show you the power of compound interest,
Let’s say, rather than investing for 25 years, you plan to invest for 30 years, the interest rate will be the same at 13%.
- After 30 Years you have invested Rs 18,00,000 (Rs 18 Lakh)
- Interest after 30 years is Rs 2,03,03,234 (Rs 2 crore)
- Rs 18,00,000 Investment + Rs 2,03,03,234 Interest = Rs 2,21,03,234 (Rs 2.2 crore)
Did you see, only 5 years more and your investment went from 1.13 crore to 2.2 crore?
So what does this mean, start your investment journey as soon as you can.
Investment Plan by Ray Dalio
If you’re that person who doesn’t like to take risks then this is for you.
During the interview, Tony Robbins asked Ray Dalio for a perfect diversified portfolio and he said,
- Invest 30% in the Stock Market
- Invest 15% in Short Term Bonds
- Invest 40% in Long long-term bonds
- Invest 7.50% in Gold
- Invest 7.50% in Commodities
What this does is,
No matter what happens in the market, you will not lose all of your money.
Now, you can play around with the percentage because, at the end of the day, you’re investing your hard-earned money.
There is no need to invest everything you have and wait for the perfect time to have fun. This is not the right way to live life, you need to enjoy your life.
So before you invest money, keep a few bucks aside for your wants and have fun because you’re earning money so you can live a good life.
Don’t be so hard and think, I have to invest money and this is the reason why I’m not going on vacation or buying that product.
Now, this doesn’t mean, you will buy a new iPhone every single year, this is wrong, you don’t need a new phone every year. This is not fun, this is a waste of money.
Have fun, enjoy your life, and be happy.
MONEY Master the Game Lessons
- Learn as much as you can about money and investment, don’t fall for what others say, and cross-check everything before you invest your hard-earned money.
- Don’t wait for the right time to start investing, the right time is right now.
- Define how much money is enough because the fact is Money will never give you happiness but freedom will.
- Enjoy your life, you don’t have to invest everything and sit at home. Have fun, go on vacation, spend time with your loved ones, and be happy.
- Always look for the bigger picture, and learn how compound interest works because the day you learn the power of compound interest, you will do better in life in terms of money or anything else.
- You don’t need bankers, financial advisers, and even mutual funds managers to tell you where to invest your money.
MONEY Master the Game Quotes
“You can be rich by having more than you need, or by needing less than you have.”
“Go out and screw up! You’re going to anyway, so you might as well enjoy the process. “
“Timing the market is basically playing poker with the best players in the world who play round the clock with nearly unlimited resources.”
“The ultimate thing that stops most of us from making significant progress in our lives is not somebody else’s limitations, but rather our own limiting perceptions or beliefs.”
“It is better to have a permanent income than to be fascinating.”
“When you seek Significance, you’re always comparing yourself with someone else. And there’s always someone bigger, taller, stronger, faster, richer, funnier, younger, more handsome, more beautiful, with a bigger yacht, a nicer car, a nicer home.”
“Money is nothing more than a reflection of your creativity, your capacity to focus, and your ability to add value and receive back.”
“Never test the depth of the river with both feet.
“No matter how difficult our situation may be, there are always people who are suffering more.”
“The best way to change your life is to find people who’ve already achieved what you want and then model their behavior.”
“Remember, the goal is to take emotion out of investing because emotion is what so often destroys investing success,”
MONEY Master the Game Review
Should you read the 688 pages of MONEY Master the Game by Tony Robbins? The answer is, if you have learned anything new from this article then yes you should definitely read this book but if you feel, everything was repetitive then you can skip the book.
However, if you want to read 688 pages then go ahead, It won’t be a waste of your time, and you will definitely learn something new*.
BUY MONEY Master the Game:
Love What You Read, You Might Like These too…