MONEY money

Editor's Note / How to Master the Game of Money
Introduction / The Secrets of Money Only They Know Revealed
Introduction / Beyond Economic Freedom, Towards Freedom in Life

Welcome to Part 1 of the Money Game
Chapter 1 It's your money and your life.
Take back the initiative
Chapter 2: The 7 Steps to Financial Freedom: Create a Lifetime Income Source
Chapter 3: Unleash the True Power of Wealth Creation
Chapter 4: Become the Master of Money! It's Time to Break It Out!

After understanding the rules of Part 2, jump into the game.
Chapter 1: Shatter and Dispel 7 Misconceptions
Chapter 2 Common Sense 1.
“Leave it to me.
“We can beat the market.”
Chapter 3 Common Sense 2.
“Fee? It’s not much!”
Chapter 4 Common Sense 3.
"Profit? The figures are exactly as shown."
Chapter 5 Common Sense 4.
“I am a stockbroker here to help you.”
Chapter 6 Common Sense 5.
“I hate pensions, so of course you should too.”
Chapter 7 Common Sense 6.
“You have to take risks to get a big reward!”
Chapter 8 Common Sense 7.
“I can’t.
“It’s better to stop here.”

Increase your chances of winning in the 3rd game
Chapter 1 How Much Does Your Dream Cost?
Chapter 2: Designing a Retirement Plan That's Right for You
Chapter 3 Speeding Up 1.
Increase your savings and invest the difference.
Chapter 4 Speeding Up 2.
Increase your income and invest the difference.
Chapter 5 Speeding Up 3.
Fees? Reduce your taxes and invest the difference.
Chapter 6 Speeding Up 4.
Increase your returns and win sooner
Chapter 7 Speeding Up 5.
Change your life and lifestyle forever

Part 4: Make the Most Important Investment Decision of Your Life
Chapter 1: The Ultimate Bucket List: Asset Allocation
Chapter 2: The Board for Victory, Risk/Growth Buckets
Chapter 3: Wealth for Today, Dream Bucket
Chapter 4 Is Timing Everything?

Design a Lifetime Income Plan That Only Provides Prosperity
Chapter 1: A Perfect All-Weather Investment Strategy
Chapter 2: Storm-Waying Returns and Outstanding Results
Chapter 3: Designing a Lifetime Income for Freedom
Chapter 4 Income is the Result
Chapter 5: The Secrets of the Super Rich That We Can Use

Part 6: Invest Like a 0.001 Percent
Chapter 1: Meeting the Giants of the World
Chapter 2 'Carl Aichan': Master of the Universe
Chapter 3: David Swenson's $23.9 Billion Volunteer Work
Chapter 4 'John C.
Bogle, a leader in the investment world
Chapter 5: Warren Buffett, the Sage of Omaha
Chapter 6: Paul Tudor Jones: A Modern-Day Robin Hood
Chapter 7: Ray Dalio: The Man Prepared for Every Season
Chapter 8: Mary Callahan Eddos: The $2.5 Trillion Woman
Chapter 9 'T.
Boone Pickens: A Man Born to Be Rich and Give
Chapter 10: Kyle Bass: The Master of Risk Management
Chapter 11: 'Mark Faber', the billionaire known as Doctor Doom
Chapter 12: Charles Schwab, the Everyone's Stockbroker
Chapter 13 Sir John Templeton: The Greatest Investor of the 20th Century

Part 7: Run, Enjoy, and Share
Chapter 1 The Future Is Brighter Than We Think
Chapter 2 A wealth full of passion
Chapter 3 The Last Secret

Appendix / Checklist for Implementing the 7-Step Stairs to Success
Acknowledgements

MONEY money

The 7 Secrets Revealed by Wealth Giants
Warren Buffett, Ray Dalio, Carl Icahn, John Templeton…
The Law of Money Revealed by Meeting 50 Financial Leaders Directly Over 4 Years

How Ordinary People Can Enjoy Financial Freedom and Abundance

Have you ever thought about a life where you don't have to force yourself to work?
Have you ever wanted to escape the hustle and bustle of work, worrying about next month's utility bills, mortgage payments, or installment payments?
Have you ever pictured yourself working not to earn a living, but simply because you want to?
Unfortunately, salary alone isn't enough.
I believe that if I work harder, more frugally, and longer, I will eventually be able to achieve freedom from money, but a salary alone is not the answer.
Financial freedom is impossible unless you break out of a financial structure where if you don't earn money this month, you can't live next month.
Ultimately, there is no such thing as a stable job, and no matter how hard you tighten your belt, it is impossible to navigate the current unstable economic environment, extended life expectancy, and unpredictable future.
So does that mean there is no hope for anyone other than those born with a silver spoon in their mouth?


no.
There is a way out for us too.
It's about becoming an investor, not a consumer, and making money.
You have to make your money make money even while you sleep.
In other words, we must find out the laws that govern the world of money and act in accordance with those laws.
To do so, you need to learn proven, successful strategies that a small number of people who have already become master investors have already discovered and are implementing.
This is the key.


I've interviewed many of the world's wealthiest people, and most of them think money is a game.
To win, you need to know the rules and learn the best winning strategies from those who have already conquered the game.

-From the text

Is it possible to support a family, maintain good health, and maintain good relationships with loved ones while working, all while becoming an investment expert? Is it possible to grow wealth in the complex financial maze rife with various financial products and risks? In the author's words, "It's possible to go beyond simply winning, to experience a thrilling victory!" Today's remarkable technological advancements make this possible.
With just one click and a small fee, you can invest in any market or product anywhere in the world.
It's easier than ever to achieve great results.

Economic systems and common sense that wealthy giants distrust

The global economic crisis of 2008-2009 touched the heart of author Tony Robbins.
After publishing "Awaken the Giant Within" (1992) and "The Power of the Giant" (1997) under the name of 'Anthony Robbins', he had not felt the need to write any other books, but after seeing people whose entire lives were completely ruined by the economic crisis, he set out to find a fundamental solution.
Tony Robbins himself experienced dire financial hardship as a child, having been raised by four fathers, and lost his hard-earned net worth of $400 million in an instant during the dot-com crash in 2000.
He saw the economic crisis, which had left millions homeless and their jobs destroyed, and their families torn apart, and he was frustrated and angry at the causes of this tragic collapse: the current economic system and the state of the financial world.
And immediately asked:
“What can I do?” And this book is the answer.


Tony believed that if the general public could understand the laws of money, known only to a select few who dominate the investment world, they could live a life free from money and a future free from anxiety.
So, we decided to meet 50 of the world's greatest financial leaders who have already mastered the 'Laws of Money' and are living extraordinary lives, and draw out their wisdom and insights.
And they organized the secrets of the money game they revealed into 7 steps so that anyone can easily execute them.

Among them are Ray Dalio, founder of Bridgewater Associates, the world's largest hedge fund; Paul Tudor Jones, founder of Tudor Investments and considered one of the top 10 traders of all time; Mary Callahan Eddos, CEO of JP Morgan Asset Management with $2.5 trillion in assets under management; and John C.
It includes financial giants who control the world's top 0.001 percent of assets, including Bogle and billionaire Marc Faber, known as "Dr. Doom."
In addition to these, Warren Buffett, John Templeton, and Carl Icahn are also well-known figures.
The world's greatest money masters the author has met are not the lucky heirs of wealthy parents; some come from what could be considered less fortunate backgrounds.
Therefore, their words, tools, and strategies have enough internal logic to constitute an operating manual for 'money' that even ordinary people can utilize.


The principles they commonly speak of directly contradict our common sense.
One of them is that they never pursue 'high risk, high return'.
Warren Buffett's first and second rules of investing are 'Rule 1.
Don't lose money! Rule 2.
Remember the first rule.


As in any other business world, the investment world is one where the words are spoken, either directly or implicitly.
They say that if you want to be big, you have to take big risks.
He even makes the surprising statement that if you want financial freedom, you have to sacrifice some freedom before you reach your destination.
This is far from the truth.

- From the text

Among the seven myths that the wealthy denies are the common claim from financial firms that they can "beat the market," the stockbroker's slogan that they are "on the side of the customer," the financial system's boast that "we provide services for a small fee," and the weak, defeatist stereotype that "I have no money-making skills."
Here are seven common myths that wealthy people directly deny (see Part 2, "Know the Rules, Then Jump in"):

1.
“Leave it to me.
“We can beat the market.”
2.
“Fee? It’s not much!”
3.
"Profit? The figures are exactly as shown."
4.
“I am a stockbroker here to help you.”
5.
“I hate pensions, so of course you should too.”
6.
“You have to take risks to get a big reward!”
7.
“I can’t.
“It’s better to stop here.”

And breaking the seven myths is so important that it constitutes two of the seven steps to financial freedom.
In particular, one can never be a successful investor without knowing the true nature of returns, which the economic system obscures to a high degree for its own protection.
To cleverly hide their fees, Wall Street has created a bunch of terms that are hard to understand.
This is because the common people will continue to stay in the shadows and hand over control to the experts in exchange for huge fees.
This terminology is designed to keep us from realizing that we are paying much more than we think.
They are packaged nicely, but the truth is that they are just additional fees.
Jack Bogle, who appears in this book, says, “If you pay excessive fees, you are giving up 50 to 70 percent of your seed money for the future.”

The 7-Step Stairway to Success, Proven by the 0.001% Super Rich

In the world of wealth, the first step is the same for everyone.
It starts with a firm resolution to save a portion of your income.
The same goes for the world's best investors.
No matter how much you earn, set aside a portion of your income and save it in a separate account, waiting for the power of compound interest to kick in.
It is about persistently collecting money until it becomes what is called seed money.
Sir John Templeton is no exception.
He also poured 50 percent of his income into savings.


“My wife and I had the opportunity to take over a small investment advisor’s office, and we were able to cover the cost with our savings.
We started in Radio City, New York, with no customers and stayed there for 25 years.
And I continued to save 50 cents for every dollar I earned, without fail, to build up enough assets for retirement and charity.”
- From the text

Step 2 is to understand the rules of the game so that you can become a player rather than a spectator in the money game.
We must see through the lies of the financial world mentioned above and boldly ignore them.
You need to compare the advertised returns with the actual returns and recognize the difference between a broker and an agent.
We need to consider the claims of active managers who claim to beat the market.
The reality is that even though they put up 100% of their capital and take on 100% of the risk, if there is an investment return, more than 60% of the profit goes out as a commission, while if there is an investment loss, the investor alone bears the entire loss, and someone still collects the commission.

Once you've truly grasped the realities of the money game and decided to become an insider, the next step is to calculate the price of the financial security, independence, and freedom you desire.
In other words, you need to calculate in concrete numbers how much money and time you will need to realize the life you want.
The third step is to implement the five methods suggested in the book to further increase the speed of achievement.
To help you accelerate your dream journey, the author offers a variety of paths, from the common advice of reminding us of the hidden power of small change to tips on how to increase savings, save on fees and taxes, and even suggesting a change of residence to suit your lifestyle.

The fourth step is to establish an asset allocation strategy, that is, where and in what proportion the money collected should be invested.
I don't need to say more about how important asset allocation is.
For the world's leading financial experts, including the investors and traders the author interviewed for this book, asset allocation is the key to success or failure.
Paul Tudor Jones never breaks his self-distribution principles.
The livelihoods of 22,000 professionals, led by Mary Callahan Edos, the most powerful woman on Wall Street, depend on how well they allocate their assets.
Ray Dalio, who manages the world's largest hedge fund and has a net worth of $14 billion, also uses asset allocation as an investment principle.


The author divides assets into three buckets—safe buckets, risky/growth buckets, and dream buckets—and shows how to allocate them in different proportions, using Jack Bogle's "Invest in Bonds as You Age" principle and a practical asset allocation portfolio designed by Davis Swenson.
The safety bucket is a place to store money that you absolutely cannot afford to lose. There are eight types of buckets, including cash, bonds, certificates of deposit, structured bonds, and houses.


‘Home’ should not be an object of consumption.
In particular, if it is your own home, you should never consider it as an investment, and you should not expect to make a fortune from it. (See page 429 for the reason.)
- From the text

Risk? The growth bucket is a thrilling and risky game where you can expect high returns but risk losing all your money.
There are seven major asset classes: stocks, high-yield bonds, commodities, and structured notes.
Depending on the type, structured bonds can fall into either the safe bucket or the risky/growth bucket.
A dream bucket is a bucket where you save money to enjoy 'today'.
This is a bucket to collect for the shoes and watches you want, fancy family dinners, and gifts for your loved ones.

The proportion of each bucket you invest in will vary depending on your individual preferences and circumstances, but keep this in mind:
First is diversification, second is diversification.
You should diversify your investments evenly between the safe and risky growth buckets, as well as within each bucket.


The fifth step is to design a lifetime income plan.
Here, Ray Dalio's lifelong strategy is revealed.
In other words, a portfolio is introduced that maximizes the possibility of returns with minimal risk.
Here are the outstanding results his strategy has achieved. (Ray Dalio's portfolio is fully revealed in Part 5, "Design a Lifetime Income Plan That Only Prosperity Provides.")

1.
Annual returns of nearly 10 percent over the past 40 years (9.88 percent, to be exact, after fees)
2.
Over the past 40 years, it has recorded profits in 85 percent of the years, has recorded losses in just six years, and has recorded losses of 0.03 percent or less in two of the six years.
3.
Even if we consider the worst year in the past 40 years, it would only be -3.93%.

The sixth step is to learn directly from the insights and investment strategies of 12 wealth giants through interviews.
The book features Carl Icahn, who is considered the "Master of the Universe" for his interviews with Money Masters; Paul Tudor Jones, who never invests less than a 5 to 1 ratio; Kyle Bass, who saved money by buying nickels; Sir John Templeton, who taught that the worst economic times can be the best opportunities; and Jack Bogle, a master of indexing investing.
While these financial legends may have taken different approaches, they never took lightly four principles. (For more details, see Part 6, Chapter 1.)

1.
Never lose money.
2. Big returns with little risk.
3.
Anticipate and distribute.
4.
It doesn't say it's over.

In the final stage, we reflect on the ultimate meaning of wealth and how to further maximize the value of money as a tool.
We reflect on the values ​​of a growing life, a life of giving, and discuss the true meaning of material abundance.


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* 7 Steps to Financial Freedom *

Step 1: Make the most important financial decision that will shape your life: Decide to save a portion of your income.
Step 2: Learn the Rules of the Game - Spot the Seven Obvious Tricks of the Financial System to Become a Player
Step 3: Set realistic goals - Turn what you truly want into specific numbers and learn how to make it happen.
Step 4: Make an Investment Decision: Establish an asset allocation strategy, where and in what proportion to invest your money.
Designing a 5-Step Lifetime Income Plan: Learn Ray Dalio's All-Weather Strategy and Choose the Right Investments
Step 6: Master the Investment Secrets of the 0.001% Super-Rich_Learn the Investment Techniques of the World's Best Investors
7 Steps to a Better Life: Create an Action Plan - Execute, Enjoy, and Share
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