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VirginiaR

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Hi,

I've read Money: Master the game and honestly didn't get much out of it that I didn't already know. TMF , and Unscripted are BY FAR more useful, actionable and even more entertaining.

I do like some of Tony Robbin's stuff though, and will say his newer book Unshakable is better, and is a much shorter, updated version of Master the game.
Hi Doug, thank you for your comment and your opinion on this matter! Thanx for helping out!
 
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Is Tony Robbins book MONEY Master the Game worth the read?

Probably not.

Honestly, if you have read and understood MJs books it’s time to move on to gaining specific executional knowledge.

The pump you up about/make the case for entrepreneurship/financial freedom stuff becomes an action fake really quickly for some folks.

Would you rather learn something pertaining to your business or further arm yourself with drive-by rhetoric for debating job people? What makes you money?
 
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MJ DeMarco

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VirginiaR

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Probably not.

Honestly, if you have read and understood MJs books it’s time to move on to gaining specific executional knowledge.

The pump you up about/make the case for entrepreneurship/financial freedom stuff becomes an action fake really quickly for some folks.

Would you rather learn something pertaining to your business or further arm yourself with drive-by rhetoric for debating job people? What makes you money?

Hi Kak, thank you for sharing your perspective. You are so right! I think it is crucial to be specific now and to take action on it, reflecting on MJs content. Great reflective questions you put in there! Thanks for your input! Have a nice day!
 

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When u say it doesn’t work, what happens? Blank page? Error?

Hi MJ, goodmorning. I have the same problem. This is what happens when I click the link:

"Books Recommended by Fastlane Entrepreneurs (And MJ!)"

and then..Blank. NO content...
 
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jmusic

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Personally, I view financial education as a progression. As much as Dave Ramsey is knocked around here, his stuff got me off the sidewalk and started to finally get my head above water (positive net worth). From what I recall, he didn't advise investing while you're up to your eardrums in debt ("hair on fire" as he called it). So he was the training wheels on the path to financial intelligence.

More advanced IMO, is the FIRE community, first introduced to me by MrMoneyMustache. Basically the concept is to radically adjust your lifestyle (ex: sell the fancypants $40K SUV, and buy a $5K A-B car for cash) in order to get your savings rate up to ~50% of your income. Once your savings rate is that high, it becomes much faster to get to a retirement-size portfolio. Still squarely in the slowlane camp, but valuable nontheless.

Personally, I was in the Dave Ramsey camp around 10 years ago, and brought my net worth from $-50K to breakeven in about 2 years. I found out about MMM about 7 years ago, and TFF ~5 years ago. While I'm still figuring out my fastlane path (terribly indecisive/analysis paralysis), I've raised my net worth to ~$200K working my slowlane job with a high savings rate.
 

VirginiaR

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Personally, I view financial education as a progression. As much as Dave Ramsey is knocked around here, his stuff got me off the sidewalk and started to finally get my head above water (positive net worth). From what I recall, he didn't advise investing while you're up to your eardrums in debt ("hair on fire" as he called it). So he was the training wheels on the path to financial intelligence.

More advanced IMO, is the FIRE community, first introduced to me by MrMoneyMustache. Basically the concept is to radically adjust your lifestyle (ex: sell the fancypants $40K SUV, and buy a $5K A-B car for cash) in order to get your savings rate up to ~50% of your income. Once your savings rate is that high, it becomes much faster to get to a retirement-size portfolio. Still squarely in the slowlane camp, but valuable nontheless.

Personally, I was in the Dave Ramsey camp around 10 years ago, and brought my net worth from $-50K to breakeven in about 2 years. I found out about MMM about 7 years ago, and TFF ~5 years ago. While I'm still figuring out my fastlane path (terribly indecisive/analysis paralysis), I've raised my net worth to ~$200K working my slowlane job with a high savings rate.

Hi J! Meep hahah! thats funny. Thanx for your insight and opinion. Waw you've come along way! Good for you! I also listened to Dave Ramseys audio books. It's true. It helped me too to get back on track and get my money stuff a little more in order. Money education is so important. Thanks for your input and sharing your experience. The more you know, the more options and clarity you have. So thank you for that!
 

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I've read Money Master the Game a few weeks before reading TMF and Unscripted .

It depressed me.

"So, I have to work a job for twenty more years, while saving hard, to become financially free? Wheehee..."

It's pure slowlane.

Of course, I agree with MJ; some insights are valuable, especially the part about portfolios, and only if you already have money to invest.

Also, some people for reasons may prefer the slowlane way.

I think itbmay be why TMF had such impact on me, it was in total rupture with this kind of slowlane book, and it really resonated in me, because I knew another way was possible.

Don't forget that time is your most valuable resource ! I wouldn't use it for this book before having a fastlane business. Otherwise I would read much more interesting books about going fastlane. Even if 10% is good advice, and you spend 10 hours to read it, it would be a way better deal to spend 2 hours reading a 100% useful book for your fastlane business, or building it.

I just read "Loosing my virginity" by Richard Branson, and even if there isn't really much technical concepts or this kind of stuff in it, I found it way more useful, because it is really inspiring and motivating forward taking action.

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Longinus

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Hi MJ, goodmorning. I have the same problem. This is what happens when I click the link:

"Books Recommended by Fastlane Entrepreneurs (And MJ!)"

and then..Blank. NO content...

Is it like this?

upload_2018-4-9_20-0-22.png

Ad blocker turned off:

upload_2018-4-9_20-0-57.png
 

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I read MONEY book by TR when it just came out. This thread has many great answers, I offer to you this - how much time do you have? Can you casually read this book instead of watching some sitcom on TV? If yes, then you'll find some great nuggets of info there. If no, then it is not worth it.

Put it another way, I would never give this book as a gift to any friend.
 

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Hi guys, Hope you're having a nice day.

I was checking out the Tony Robbins book Money Master the Game and I was wondering if it's worth the read in the sense of: Does it follow the Fastlane or Slowlane perspective? Is it worth my time?

My mission is to get more Financially savvy and the Fastlane view of MJ to me sounds the most logical and successful. So what kind of books would you guys recommend me reading to get more financially savvy? And did you read Tony's Money book, and what did you think?

I hope I didn't post a topic that was already done...I checked..If I did, could you tag me the link?

Thanks everybody for reading my post and I am looking forward to your recommendations!

Hi @VirginiaR

I have worked in the financial industry for 7 years. In my opinion, this book is garbage. Full disclosure - I've only skimmed it. But my reasons for doing so is that I have some inside information.

I am very good friends with one of the copywriters that worked on the emails for this book. It's simply an entry to a funnel for a financial firm selling a mutual fund that teamed up with Mr. Robbins. I don't know if he has part ownership of the fund or is getting paid in other ways... but the bottom line is that it's garbage.
 

Seeker

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@VirginiaR It's been a while since I heard the really long audio book. What I do recall is the following: It's also much about slowlane mentality for average people. For the typical sidewalker this is a step in the right direction. And it's pretty entertaining listening to all the big financial guys/investors. You could learn from them but this is one of the cases of "do what I say, not do what I do". While it's interesting, it won't help you become financially free (at least not until you are old). But it was a good education and got me to invest in the stock market, not as a means to get rich but to grow it at least a bit compared to leaving it in a traditional savings account. As a non-US citizen also all the tax savings, 401k's and so on weren't that relevant to me and he spends quite some time on that aspect.

Anyhow - if you want financial advice from Tony Robbins, I'd recommend to get "Unshakable". It's basically the compressed version of MONEY - Master the game. For me personally it was a little disappointing, because it contained nothing new if you'd already read/heared MONEY and from the title "financial freedom playbook" I hoped for TMFL version from Tony - which it isn't. On the other hand, for somebody who hasn't read both, I'd recommend Unshakable more because it's essentially everything valueable from MONEY, but not such huge investment of your time.
 

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If 10% of the book is helpful, that 10% might make a difference between losing big or not.
10 to 50%, it's what most books offer of really helpful content, the 90 to 50% left is usually the author milking it for the sake of filling the required 200 pages. And that's OK for me, since that tiny percentage is usually enough to make the difference.
 

Nekoemon

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If 10% of the book is helpful, that 10% might make a difference between losing big or not.
10 to 50%, it's what most books offer of really helpful content, the 90 to 50% left is usually the author milking it for the sake of filling the required 200 pages. And that's OK for me, since that tiny percentage is usually enough to make the difference.
 

VirginiaR

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Yes and no.

I finally finished the beast of a book a couple months ago.

The book is really about asset allocation and portfolio balancing... after all, big buddy went and interviewed 50 self-made billionaires... what do you think those people would talk about?

If you don't have any money it's pretty hard to balance a portfolio and talk about what percentage of your portfolio should be in which asset classes for growth or protection.

However, one of the biggest benefits of this book is that it uncovers the bullshit fees most people are paying in their 401k, IRAs, or any other typical investments... for example: 1% extra fees from your broker ultimately results in a loss 10 years of retirement income down the road.

It talks about the affect taxes have on a growing portfolio.

It talks about where you should put your cash from your business after you've made it.

It talks about how to minimize and eliminate downside risk in investments and how these billionaires such as Ray Dalio, Warren Buffest, Carl Icahn, Kyle Bass, and others do it.

What it DOES NOT talk about is how you can build a business or generate wealth in the first place besides a meager retirement account.

Let's face it -- there are billions of people who just don't give a sh*t about building a business and making money... so what is the best advice you can give those people to protect themselves? ... the same advice that's always been given:

spend less, invest the difference... and big buddy adds in "don't pay fees, pay as little tax as is legal, and invest with a proven strategy and portfolio instead of trying to pick things off a board you think might make you money... because you're not a trader... so stop trying to be a trader..."

In my opinion: At the end of the day you're going to find this book useless unless you have a portfolio of 250k+ -- but this IS information I wish I would have had when I sold the first biz...

I spent years studying and trying to build big business and learn how to sell more stuff... I didn't focus on how to keep that money. 3 fortunes come and gone later -- I'm a little wiser and better educated on the subject.

P.S. The asset allocation portfolio in the book is worth reading through the entire thing... if you're bored start with chapter 18 and go from there.

Hi Steve! Waw so kind of you to take the time to make a summary like this of the book, whats useful and whats not. Great! You have some great points and perspective there. And cool you share your experience that you still wished that you read it, before you sold your first business. Very useful info,thanx for sharing! Enjoy your day!
 
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VirginiaR

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I've read Money Master the Game a few weeks before reading TMF and Unscripted .

It depressed me.

"So, I have to work a job for twenty more years, while saving hard, to become financially free? Wheehee..."

It's pure slowlane.

Of course, I agree with MJ; some insights are valuable, especially the part about portfolios, and only if you already have money to invest.

Also, some people for reasons may prefer the slowlane way.

I think itbmay be why TMF had such impact on me, it was in total rupture with this kind of slowlane book, and it really resonated in me, because I knew another way was possible.

Don't forget that time is your most valuable resource ! I wouldn't use it for this book before having a fastlane business. Otherwise I would read much more interesting books about going fastlane. Even if 10% is good advice, and you spend 10 hours to read it, it would be a way better deal to spend 2 hours reading a 100% useful book for your fastlane business, or building it.

I just read "Loosing my virginity" by Richard Branson, and even if there isn't really much technical concepts or this kind of stuff in it, I found it way more useful, because it is really inspiring and motivating forward taking action.

Envoyé de mon SM-G955F en utilisant Tapatalk

Bonjour Thomas! Thanx for sharing your opinion. Very helpful to me. I will look into that book from Richard. I read "Screw it, just do it" from him, is it similar?
 

VirginiaR

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I read MONEY book by TR when it just came out. This thread has many great answers, I offer to you this - how much time do you have? Can you casually read this book instead of watching some sitcom on TV? If yes, then you'll find some great nuggets of info there. If no, then it is not worth it.

Put it another way, I would never give this book as a gift to any friend.

Hi Volodya, thanks for sharing your insight! Not gift-able ;) hahhaha.
 

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Bonjour Thomas! Thanx for sharing your opinion. Very helpful to me. I will look into that book from Richard. I read "Screw it, just do it" from him, is it similar?
It's a much more smaller book but I think it's more or less the same spirit! Didn't read it yet but already bought it ! Thanks for your answer!

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It's a book I read before I read TMF. I bought it by pre-ordering with big expectations. But after I read it, it was a big disappointment for me. After I read TMF, I realized that as M.J said, Tony showed to ways to rich people how they should keep and raise their money. For those who do not have money, the book is just a sweet melody of scripted life paradise. "keep working for somebody else's dream for 40 years, save money, use 401k, use some stock market, don't live, then if u have luck then u will be rich".
 

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Tony Robbins is like a GREAT guy, helped me tremendously! But... His two money books "unshakable" and "Money - Master the Game" were really bad advice for any fastlaner!
Put some money in ETFs and things like this every month, and PUFF, in like 55 years you may have a million dollars! That is, if there are dollars left! My Grandpa, who is as old now as I would be by then, has seen 4 currencies come and go (living in Germany, might be a different perspective with the dollar being there for like a gazillion years now :p ) Here, look at this poor janitor that struggled all his life and has bought his 300.000 Dollar dream house now with 79 years... That kind of advice...

That being said: If this is not your ONLY strategy, but a LITTLE piece of the puzzle, it might be good advice, anyways. Pay off your debt asap. Do your fastlane thing, but also put away a little bit into an ETF or two. So you always have a little nest egg if the ish hits the fan. And if you dont need it - hey, some surprise cash 20 years down the road is not bad!

Just dont make it your ONLY plan

(Money and Unshakable were the only two Tony Robbins books I read in german, not original english - I might chalk up some of my negative feelings towards these books to terrible translations and the fact, that some of these instruments are not that easily to apply here I think...)
 

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I recommend any book by Tony Robbins and his podcast too.

I haven't read Money: Master The Game yet but I have read Awaken The Giant Within and Unshakeable. Both are awesome.
 
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It talks about where you should put your cash from your business after you've made it.

It talks about how to minimize and eliminate downside risk in investments and how these billionaires such as Ray Dalio, Warren Buffest, Carl Icahn, Kyle Bass, and others do it.

What it DOES NOT talk about is how you can build a business or generate wealth in the first place besides a meager retirement account.

I agree. The library had it out on their featured books shelf, so I flipped through it. It seems to be entirely about dealing with an investment portfolio, once one already has plenty of money to invest. It lacks advice about how to get that much money in the first place. I had the impression that if you're going to read ten books about portfolio management, might has well include this, but if you're only going to read one, this isn't that one. (I don't know what is that best one!)
 

MJ DeMarco

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barman

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His new book "Unshakable" is basically a short version of "Money" if you want to save yourself some time.

I love Tony but really this book is meant for the general population (Slowlane, if you will.)
 
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