EP 028 – Part 1: The Most Important Financial Decision You’ll Ever Make

Knowledge is not mastery. Execution is mastery. And complexity is the enemy of execution.  

 

Tony Robbins’s MONEY Master the Game Pt 1

 

 

 

How would you live your life if you could wake up each day knowing there was enough money coming in to cover, not only your basic needs, but also your goals and dreams?

Over the course of the next few weeks we’re going to tackle THE MONEY GAME – so that we can attain the one thing the majority of people can only imagine achieving:

FINANCIAL FREEDOM.

There’s a whole bunch of finance books out there on this topic and most of them are complex or extremely long (like this one), so a lot of us end up with analysis paralysis – and do nothing.

But it’s so important you realize that there’s no way off the 9 to 5 conveyor belt if you don’t understand this one thing:

 

Your earned income will never bridge the gap between where you are and where you really want to be, because earned income can never compare to the power of compounding.

The status quo has been set up so that you give away what you value most (your time) in exchange for what you need most (income). You’re getting the short end of the deal because if you stop working – you stop making money.

So let’s break this vicious cycle today.

In this episode, I talk about

* The power of compounding and why you need to be an investor

* The $13 trillion dollar lie we’ve all bought into

* Mutual funds vs. index funds and why one of them will destroy your retirement fund

* Time weighted returns vs. dollar weighted returns and why knowing the difference will make all the difference in your future nest egg

* Lies your broker is telling you, and much more!

Book

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photo via Garance Dore

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