Unshakeable: Your Financial Freedom Playbook by Tony Robbins (Anthony Robbins)

Author:Tony Robbins (Anthony Robbins) [Robbins, Tony]
Language: eng
Format: epub
Tags: Self-Help
Publisher: Simon & Schuster
Published: 2017-02-28T00:00:00+00:00

CORE PRINCIPLE 4: DIVERSIFICATION

The fourth and final principle in the Core Four is perhaps the most obvious and fundamental of all: diversification. In its essence, it’s what almost everyone knows: don’t put all your eggs in one basket. But there’s a difference between knowing what to do and actually doing what you know. As Prince-ton professor Burton Malkiel told me, there are four important ways to diversify effectively:

1. Diversify Across Different Asset Classes. Avoid putting all your money in real estate, stocks, bonds, or any single investment class.

2. Diversify Within Asset Classes. Don’t put all your money in a favorite stock such as Apple, or a single MLP, or one piece of waterfront real estate that could be washed away in a storm.

3. Diversify Across Markets, Countries, and Currencies Around the World. We live in a global economy, so don’t make the mistake of investing solely in your own country.

4. Diversify Across Time. You’re never going to know the right time to buy anything. But if you keep adding to your investments systematically over months and years (in other words, dollar-cost averaging), you’ll reduce your risk and increase your returns over time.

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