I’m Kuda Biza, co-founder of #ThisIsMyEra, and I’ve started a book club. Please join me! 

“Leaders are readers,” I like to say. Reading helps contribute to your aspirational goals. After all, knowledge is power.

Join the #ThisIsOurEra book club and get key takeaways from our chosen book of the month and hopefully be inspired to read the book as well.

The first book I’m going to review is...

Money: Master the Game: 7 Simple Steps to Financial Freedom by Tony Robbins. While reading the book, I realized that achieving financial freedom is not complicated if you have access to the right information, the right strategies, and are willing to take action. Knowledge is power but the true power lies in taking action. 

Here are my five key takeaways from the book.

1 - You Need to Get Into the Game

If you don’t play, you can’t win. You need to start investing to achieve the financial freedom you’d like. If you start to buy stock, participating in a retirement plan, or putting money into a savings account for your future, you’ve already taken the first step.

2 - Know the Power of Compound Interest

Compound interest is a powerful tool because when you invest in a vehicle that has compound interest, your money will continue to accrue interest on top of interest that has already been earned. It does take time to earn money with compound interest, so the earlier you start investing in this manner, the more value your money may have over time.

3 - Set Financial Goals

Set financial goals and come up with a plan to make them happen. You can use the #ThisIsMyEra 90-planner to help you make a plan. 

Robbins talks about dividing your money into three buckets: 

Security Bucket 

This is your peace of mind bucket with safe investments like bonds, CDs, your home, and cash. It’s safe and not risky.

Growth Bucket

This is where you invest in more risky investments such as stocks, high-yield bonds, and mutual funds. This bucket helps you achieve a higher return on your money, but you must be comfortable with the idea that you could potentially lose the money in this bucket.

Dream Bucket

This is where you put money aside for that dream vacation, summer home, or season tickets for your favorite team. Put money here to use to achieve your dreams.

4 -  Use Ray Dalio’s Investing Strategy

Use the investments strategy devised by Ray Dalio, a top hedge fund manager, to create an investment portfolio that is recession proof.

Invest:

• 30% in stocks
• 15% in intermediate U.S. bonds
• 40% in long-term U.S. bonds 
• 7.5% invested in gold and 7.5% invested in commodities 

5 - Contribution

“The secret to living is giving,” says Tony Robbins.

As you plan for your future, always consider how you can donate and make a contribution to society to make a difference. With the #ThisIsMyEra 90-planner, we make a difference with every purchase we get by helping to empower children through education.