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Tony Robbins: Ignoring This Investing Concept Could Cost You $600K
Yahoo Financeยท 2025-11-09 20:00
Core Insights - Tony Robbins emphasizes the importance of starting to invest early and utilizing compounding interest to build wealth over time [2][4][6] Investment Strategies - Starting early can significantly impact long-term wealth accumulation, as illustrated by two hypothetical investors: one who invests $300 monthly from age 19 to 27 and another who starts at 27 and continues until 65 [3][4] - The investor who starts at 19 ends up with approximately $1,985,000 by age 65, while the later investor accumulates about $1.38 million, highlighting a difference of nearly $600,000 due to the power of compounding [4] Common Investment Mistakes - Robbins identifies several common pitfalls investors should avoid, including misallocating assets, using brokers instead of fiduciaries, neglecting tax implications, overpaying for high-cost mutual funds, and failing to regularly rebalance portfolios [5] Personal Investment - Robbins recalls advice from Warren Buffett, emphasizing that the most crucial investment is in oneself, reinforcing the idea of starting early and maintaining consistency in investment strategies for a prosperous financial future [6]