SECTION 1 WELCOME TO THE JUNGLE: THE JOURNEY BEGINS WITH THIS FIRST STEP (Location 261)
CHAPTER 1.1 IT’S YOUR MONEY! IT’S YOUR LIFE! TAKE CONTROL (Location 262)
How? The secret to wealth is simple: Find a way to do more for others than anyone else does. (Location 313)
You have to make the shift from being a consumer in the economy to becoming an owner—and you do it by becoming an investor. (Location 324)
How about HFT? That’s short for high-frequency trading, where 50% to 70% of the tens of millions of trades that churn through the market each day are now generated by high-speed machines. (Location 337)
What I’ve known from the beginning is that success leaves clues. People who succeed at the highest level are not lucky; they’re doing something differently than everyone else does. (Location 370)
My plan is to serve you by becoming your personal financial search engine—a smart search engine, one that will filter through all the superfluous, even harmful financial information out there to deliver simple, clear solutions. (Location 447)
What’s a portfolio? If you’re not familiar with the term, it’s just a collection of diverse investments that you put together to try to maximize your financial returns. (Location 616)
Remember this: anticipation is the ultimate power. Losers react; leaders anticipate. (Location 729)
He said the majority of investors fail to take full advantage of the incredible power of compounding—the multiplying power of growth times growth. (Location 1054)
It’s time to get off the sidelines and get into the game—because, ultimately, we must all become investors if we want to be financially free. (Location 1133)
I call it your Freedom Fund, because freedom is what it’s going to buy you, now and in the future. Understand, this money represents just a portion of what you earn. It’s for you and your family. Save a fixed percentage each pay period, and then invest it intelligently, and over time you’ll start living a life where your money works for you instead of you working for your money. (Location 1168)
We saw the same kind of growth happen as the stock market soared from the lows of March 2009 to more than 142% growth by the end of 2013. But most people missed it. Why? When things are going down, we think they’re going to go down forever—pessimism takes over. (Location 1244)
By committing to a simple but steady code of savings, by drawing down on your income each pay period and paying yourself first, there’s a way to tap the power of compound savings and let it take you to unimaginable heights. (Location 1261)
You can get that sense of connection or love through intimacy, or friendship, or prayer, or walking in nature. If nothing else works, you can get a dog. (Location 1494)
the secret to living is giving. Life’s not about me; it’s about we. Think about it: (Location 1503)
you the income you need for your life. This is the pinnacle (Location 1661)
Over a 20-year period, December 31, 1993, through December 31, 2013, the S&P 500 returned an average annual return of 9.28%. But the average mutual fund investor made just over 2.54%, according to Dalbar, one of the leading industry research firms. Ouch! A nearly 80% difference. (Location 1753)
“Where do I put my money, Tony?!” First, you don’t have to waste your time trying to pick stocks yourself or pick the best mutual fund. (Location 1835)
The secret: “Don’t do something, just stand there!” And by becoming the market and not trying to beat it, you are on the side of progress, growth, and expansion. (Location 1840)
But remember that the S&P 500 is only one of many indexes or markets. (Location 1842)
First, you need to know how much you are paying! I recommend visiting the investment software website Personal Fund (www.PersonalFund.com) for its cost calculator, which analyzes each of your funds and looks beyond just the expense ratio to the additional costs as well. (Location 1996)
In short, when the mutual fund advertises a specific return, it’s not, as Jack Bogle says, “the return you actually earn.” Why? Because the returns you see in the brochure are known as time-weighted returns. Sounds complicated, but it’s not. (Location 2112)
Dollar-weighted returns are what we actually get to keep whereas time-weighted returns are what fund managers use to fuel advertising. (Location 2121)
A fiduciary is a legal standard adopted by a relatively small but growing segment of independent financial professionals who have abandoned their big-box firms, relinquished their broker status, and made the decision to become a registered investment advisor. These professionals get paid for financial advice and, by law, must remove any potential conflicts of interest (or, at a minimum, disclose them) and put the client’s needs above their own. (Location 2229)
Above, you have the six steps of how to evaluate and find a fiduciary if you choose to find your own. As I mentioned, you can visit Portfolio CheckUp (www.PortfolioCheckUp.com), (Location 2430)