Why Most Coaches (And Millions of Others) Are Ignorant About Money

How many times have you told someone “I don’t know much about investment matters”?  How often have you felt uncomfortable speaking with your attorney, investment adviser or accountant about that elusive thing called “retirement”?

If it’s more than once or twice, then you are I was until recently – a “Money Ignoramus“!

Ignorance about money, however, does not make you stupid; far from it.  You have been kept from the truth by money “advisers,” many of whom derive their power from the fact that you remain ignorant.  These are the High Priests of the financial world make their fortunes based on the fact you find money and investments complicated, and would rather hire them to figure it out for you.

Master The Game

Money and investment, like medicine and law, has been shrouded in mystery for centuries by this inner circle of elites who use professional jargon to communicate.  Tony Robbins, in his book Money:  Master The Game – 7 simple Steps To Financial Freedom,  rides in like the proverbial Knight in Shining Armour to save us from ourselves.  He simply pulls back the wizard’s curtain to reveal an over-hyped and overpriced humbug.

At first glance, the book looks formidable.  It is over 600 pages of fairly small print.  The way Tony out his points, however,  allow anyone to follow him without much effort.  He takes us on his own personal journey from despair to inspiration,  rags to riches, and finally to the realization that he didn’t really know anything about money . . . and sought to be enlightened by the best minds on the subject.

The biggest conclusions I walked away with after reading this book were that:

1. Who you hire to manage your money can more than triple your returns
2. Index funds have out-performed managed mutual funds over 96% of the time, and
3. My wife and I can enjoy a guaranteed income for the rest of our lives . . . even if we live to 100 or older!

In the past, I would have dismissed these ideas as the stuff of pure fantasy . . . mainly because I was “informed” by the experts that this is so.  These ideas – and many more – are NOT fantasy, however, and Tony gives us multiple examples to back up his claims.

Robbins also quotes the words of financial giants such as Warren Buffet, Ray Dalio, Carl Icahn, John Bogle and T. Boone Pickens to further lay the foundation of his “7 Simple Steps” money plan.

Do It

Get this book and read it!  Take the time to just do it.

While it may take you a while to get through (I stopped and highlighted so many passages, my wife complained …), it is well worth your while.  If you are a life coach, consultant, or anyone considering the idea of retiring at some point, this book should be required reading and a permanent part of your library.

My wife and I are in the process of changing over our 401(k) and IRA structure, and can actually see the light at the end of the tunnel (no, not that light – we’re not dying yet!).  If you are a Baby Boomer, you need this book now!  If you are younger and not yet thinking of retirement, this book will give you a solid foundation on which to build your fortune.

The fact that Tony has already affected my life in a positive way made reading this book similar to the experience of sitting at the master’s feet.  His writing and delivery style will win you over, and his no-nonsense approach to money is a refreshing breeze in a world long-stagnant with old money ideas.