EIGHT THINGS YOU SHOULD CONSIDER FOR FINANCIAL HEALTHY LIFE - Book Review
Hello
How are you all?
I'm sure you are well and good
Today, I started revisiting the book that I had completed yesterday, Money master the game by Tony Robbins. It was a long journey with Tony. Obviously, the book was so huge (650 pages) but I thoroughly enjoyed it. It took much of my time to complete it, though. Today, I have revised it until 12:00 hrs because I wanted to summery this book to you guys. it will surely help enrich your knowledge.
Below are the things I have learnt From the Money Master the Game By Tony Robbins
(1) Investing your time in your health now is the First step towards being wealthy mentally and physically. What's the point if you are a billionaire but you are too Fat to even walk with your loved one.
(2) Invest in the Mutual fund that has the lowest expense ratio (below <0.6%). Most of the actively managed mutual funds (around 90%) take a high fee and couldn't beat the index funds in long term. Prefer Index Fund over the Actively managed Mutual fund.
(3) Have at least one Term Insurance for the earning member and health insurance for the entire family to support you and your family in the bad days.
(4) Plan your retirement corpus now. You should have at least one annuity plans Such as NPS or PRBS (in India), IRA or Roth-IRA (USA).
(5) Make your Portfolio perfectly balanced. You can't put all the eggs in one basket. My suggestion: Put 35% in debt mutual funds, 10% in Gold, 10% real estate investment trust (REITs), 30% in the stock market (10% USA, 10% India, 10% China), and 15% Crypto-Markets. The development of REITs is in the initial stage in India. so you can wait or ignore it as an investment asset for now. (Above suggestions are for an educational purpose only, study before you put your hard-earned money anywhere)
(6) You Must have some emergency fund for unplanned events such as losing a job, a loved one's death, accidents, etc. I would suggest open a separate bank account and SIP a few bucks every month to create a huge amount of emergency fund. Don't use that fund for fun, it for an emergency.
(7) In the era of technology, machine and human will merge in the future. The work you are doing today, probably, the machine will do it tomorrow. Be ready to learn new things otherwise, you will be thrown out of your company/organization/school/colleges like a bee from the milk. - A Bitter Truth Right?
(8) I have been touched most by the last top-notch chapter of this book named "The final Secret". It teaches the secret of living is GIVING. It says "you are not wealthy even though you have billions in your bank account until you help in feeding children suffering from hunger and the lack of education.
So from my point of view, you should read this book if you really want to have in-depth knowledge.
That's all guys
Thank you all