Unshakeable by Tony Robbins
INVESTING IS A MARATHON
Through data analysis, Robbins highlights the fact that market fluctuations are inevitable. Although we would ideally seek to sell high and buy low, actually timing your trades in this way is impossible. Due to an overwhelming fear of getting into the market at the “wrong time” too many people never invest.
People wait, wondering when it’s the right time to get into the market. It’s never the right time. And it’s always the right time.
One of the most fascinating pieces of research that Robbins shares is that, according to the Schwab Center for Financial Research, if your money wasn’t invested on the 10 best trading days over the past 20 years, your returns dropped by 4.5%. That was mind-blowing to me! Rather than trying to time the market perfectly, Robbins suggests deciding on a plan and sticking with it.
MENTAL PREPARATION
If you follow Robbin’s financial advice, find a good financial advisor (Robbins discusses what to look for in a manager) and create a diversified portfolio that’s it, right? Well, when the market is doing well it’s pretty easy because you’re feeling good about your decision, but once there’s a market correction, suddenly doubt creeps in and we have an urge to make changes. Robbins emphasizes that understanding why you chose to invest in each of your investments is important. He recommends writing down the reason you made the investment in the first place, so that you can go back when doubt creeps in and remind yourself. In order to achieve the long-term returns we want, we have to be mentally prepared to deal with the market fluctuations. If you have a clear vision, and an understanding of your investment strategy, you will be less likely to fall for the trap of trying to time the market perfectly.
The market is up 13% since the election — but you don’t lose unless you sell, 80% of those corrections don’t become bear markets and every single bear market has been followed by a bull market.
POSITIVES
GREAT SOURCES
Robbins draws on knowledge from some of the brightest minds in the industry, including:
- John Bogle — Former Chief Executive of The Vanguard Group
- Ray Dalio — Founder of Bridgewater Associates, one of the world’s largest hedge funds.
EASY TO UNDERSTAND
You won’t find yourself getting bogged down in financial jargon. Robbins presents the information clearly in a succinct manner, using relevant graphs to illustrate his point and justify his claims.
PRACTICAL
There is no “get rich quick” promises being made in this book. Instead you’ll gain practical and implementable ideas that you can use to create a solid financial foundation that will serve you well in the long-term.
THIS BOOK IS FOR YOU IF…
- You’ve been thinking about investing but feel overwhelmed by all the information out there and don’t know where to start
- You want to increase your financial literacy and learn from some of the brightest minds in the industry
- You are looking for practical financial information that will help you create a financial infrastructure for long-term growth and security
