Unshakeable
Tony Robbins
Vista general
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Can you imagine possessing an unshakeable certainty and deep serenity that allows you to face the turmoil of the world without faltering? This is an invitation to transform your perspective on global economic uncertainty. Discover the true power and profound knowledge of foolproof strategies to thrive against all odds. Are you ready to become unshakeable?
Puntos Clave
Invest Without Fear
The secret to growing your wealth isn't in fearing market fluctuations. While corrections happen annually, only a few turn into bear markets. You can't predict the market, but over the long term, it tends to rise, which is why staying invested is crucial.
Compound interest is a powerful tool for building wealth. Warren Buffett amassed $65 billion thanks to it. For example, Joe invested $300 a month from age 19 to 27 and ended up with nearly $1.9 million by retirement, while Bob, who started later and continued until retirement, accumulated less.
Adapting to market changes and managing your investments responsibly is crucial. Don’t blame the market for losses—your decisions matter. Don’t try to predict the market or act out of fear. Stay invested so you don’t miss the market’s best days, which are essential for long-term growth.
The Hidden Challenge
Financial freedom seems like an attainable dream, but the reality of the investment industry suggests otherwise. Many investors are unaware of the excessive fees eroding their wealth. Seventy-one percent of Americans don’t know the costs of their investment plans, blindly trusting an industry that has contributed to past economic crises.
Jack Bogle shows that investors give up two-thirds of their economic potential to managers with mediocre results. Beyond explicit fees, there are hidden costs such as transaction fees and tax consequences that reduce returns.
The solution is index funds, which minimize costs and maximize returns through a passive, diversified strategy. These funds eliminate human error and hasty decisions, protecting against volatility.
The mutual fund industry prioritizes Wall Street profits over investors' interests. Active management, which tries to outperform the market, usually underperforms in the long run.
Figures like Warren Buffett and Ray Dalio advocate for index funds. Buffett, through a million-dollar bet and his will, emphasizes the importance of avoiding high fees and misleading returns from active management.
Adopting low-cost index funds is key to retaining profits, optimizing your path to a prosperous retirement, and freeing yourself from the predatory practices of the industry.
Tips for Cautious Investors
The 401(k) plan, created in 1984, allowed millions of Americans to build wealth through tax-deductible contributions. However, these providers hid their fees, eroding workers’ savings. Although cost transparency was enforced in 2012, few people read the documents, perpetuating ignorance.
Excessive fees from mutual funds in 401(k) plans can consume a significant portion of the retirement savings. Workers lose hundreds of thousands of dollars over their lifetime due to these fees.
It’s crucial to choose low-cost index funds over more expensive actively managed options to reduce fees and improve long-term returns, thereby regaining financial security for retirement.
Despite the rise in financial advisors, many Americans distrust them. Sixty percent believe advisors favor their company’s interests, and 90 percent are actually brokers who sell specific products for commissions.
It's vital to distinguish between different types of advisors: brokers, independent advisors, and those who are dually registered. Independent advisors must act in the client’s best interest, but many operate under both capacities.
To find a trustworthy advisor, consider their credentials, experience, philosophy, and personal connection. With the right advisor, you can avoid the financial system’s traps and move towards financial freedom with a cost-conscious strategy.
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