Your Guide to Financial Freedom
I read Unshakeable by Tony Robbins and gained some helpful insights in helping me to build my Balance Sheet and pass this wisdom to my kids
The main points a I got from this book are:
- Set a side a portion of your money and invest it so that it compounds over many years – stay in the market so that compounding can work its magic
- Invest your money in a low cost index fund – by doing this you will add decades to your retirement income
- The core 4 principles applied in the book are:
– Asset allocation which is the right mix of different types of investments to protect you against unexpected losses
-Asymmetric risk/Reward- the rewards should outweigh the risks
-Take advantage of tax breaks as need to look at your after tax return
– Diversification i.e – diversify across different asset classes, diversify within asset classes, diversify across markets,countries and currencies, diversify across time – i.e. add to your investments over time – keep adding every month – take advantage of dollar cost averaging
The last chapter in the book is about giving – the secret to living is being grateful