MONEY Master the Game: 7 Simple Steps to Financial Freedom by Robbins Tony
Author:Robbins, Tony [Robbins, Tony]
Language: eng
Format: epub, mobi
Publisher: Simon & Schuster
Published: 2014-11-18T06:00:00+00:00
CHAPTER 4.2
PLAYING TO WIN: THE RISK/GROWTH BUCKET
* * *
The winner ain’t the one with the fastest car. It’s the one who refuses to lose.
—DALE EARNHARDT SR.
The Risk/Growth Bucket is where everybody wants to be. Why? Because it’s sexy! It’s exciting! You can get a much higher return in here—but the key word is can. You can also lose everything you’ve saved and invested. So whatever you put in your Risk/Growth Bucket, you have to be prepared to lose a portion or even all of it if you don’t have protective measures in place. How do we know this? Because everything in life, including markets, runs in cycles. There are going to be up times and down times. And anybody who invests in one particular kind of asset while it’s on a roll—be it real estate, stocks, bonds, commodities, or whatever—and thinks the party will last forever because “this time will be different” should get ready for a rude awakening. When I interviewed Jack Bogle for this book, he repeated one of his mantras: “Markets always revert to the mean.” (That means what goes up is going to come down, and vice versa.) And I’m sure Ray Dalio got your attention when he said that whatever your favorite investment might be, at some point in your life, you can count on it dropping 50% to 70% in value. While there’s unlimited potential for upside in this bucket, never forget that you could lose it all (or at least a significant portion). That’s why I call this the Risk/Growth Bucket and not the Growth/Risk Bucket, because growth is not guaranteed, but risk is!
So what investments would you put in here?
Here’s a sampling of seven main asset classes to consider:
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