Tony Robbins – Unshakeable

Tony Robbins – Unshakeable

This is my Book Review of Tony Robbins – Unshakeable

I’m sure you have heard of Tony Robbins. Who hasn’t. He is probably the most popular life couch out there. Who else could get ya to walk across a burning bed of red hot coals. I have been a fan of Tony’s for awhile now. Watching him on you tube, seeing him on some movies I like and even watching his Netflix seminar helping people improve their lives.

It should come as no surprise than that I have read some of Tony’s previous books – Unlimited Power and Awaken the Giant Within. I loved them and always think about his saying CANI – Continuous and Non Stop improvements. Do little things each day and always improve day by day week by week.

After creating these great books on self help I guess he wanted to start helping average people with money. Something we all need to know, it really isn’t that hard to manage your money. He has wrote 2 books now on the subject.

I own MONEY Master the Game: 7 Simple Steps to Financial Freedom but haven’t gotten myself to start reading that yet. It is a monster book and I haven’t read one like that since the Steve Jobs book.

I recently finished reading Unshakeable – Your financial Freedom Playbook Creating Peace of Mind in a World of Volatility.

I found this a very easy read and got it from the library right when the market pulled back in February. Now I’ll be clear I wasn’t about to get scared and sell my stocks or anything. It was just a great book I saw at the perfect time. The book is 186 pages long and if you include the appendix (a financial checklist) it comes in at 221 pages.

I think the book is good for beginners all the way to experienced investors. It has a bunch of great info from some of the best investors out there. The book talks a lot about the history of the stock market and There was also a lot of psychological stuff that I kept noticing I was guilty of in the moment.

History of the Market

In February the markets pulled back roughly 10%, lots of people have been waiting for the crash and thought this was it. You could see people writing about how they sold all their positions. Tony’s book talks about the history of the stock market and how in the long run its always going up. Don’t try buying and selling at the optimal time.

One cool thing I learn t is that less than 20% of all corrections turn into a bear market. That really changes the mentality during a pullback. Historically there has been a correction every year.

Did you know? There have been 34 bear markets between 1900 and 2015? So on average they happen every 3rd year. But in the last 70 years (since 1946) there have only been 14 bear markets. Lowering that average to 1 in every 5 years. Clearly the last 9 years have increased that average!

In last 14 Bear markets the s&p 500 decline ranged from 19.3% all the way to 57.6% in 2007-2009. Each of these bear markets ranged from a month and half to 2 years but on average they last a year.

There is a chart that shows the returns made in the next 12 months of the s &p 500 after each bear market. Ranging from the low of 17.94% in 2002 all the way up to the massive jump of 69.49% in 2009. When the market is low, buy more! Yeah we all knew that, but a lot of people get scared out of the market.

Index Funds

There’s no question, this book likes index funds. Stating it is a way lower cost than mutual funds and you still get a nice basket of stocks. There is no debating this, vs mutual funds its a no brainier. Its alot less work than reading and watching about individual stocks all the time. The book likes Vanguard funds.

Part of the book talks about watching your financial advisor’s. There are a bunch of different of different titles but they all come with a different perspective and no one cares about your money, as much as you. While they may pitch you some fund or something they are working for a company and clearly that company wants to make money off of you.

Psychology

Tony has always stated success is 80% psychology and 20% mechanics. Just doing it. Like I said earlier there were certain terms I definitely caught my self falling into.

There was a term I cant find at the moment but it was about people who just go through a correction and the market rebounds. Instead of deploying their cash they keep waiting for the market to pullback again. I was guilty of this for sure. Glad to hear its an actual term and lots of people do it. Its not called timing the market its something else. But yeah clearly trying to outsmart the market.

They also talk about watching out to what your listening and reading about. It can swing your mentality and get you out of your normal dollar cost averaging procedure. Or maybe you start investing in a new hot trend that is short lived.

There was a lot of helpful information on the psychology of investing. I believe that a lot of stuff is just mental, if we have a bad start to the day the rest of the day can quickly snowball into a even worse day. We need to learn to correct that and stop it in its tracks, to live a better day/life.

Conclusion

I really liked the book, you can always tell when you fly through the chapter’s and can’t put the book down. I thought it was filled with a lot of good information on the history of the market. The past is never a constant but we can always learn from it. Any little tips or kick in the butt we can receive to point us in the right direction, is welcomed on my end. As I stated earlier C.A.N.I. – Continuous and Non Stop Improvements.

I recommend this to everyone. I borrowed mine from the library but if you would like to purchase the book for yourself, feel free to use my amazon affiliate link. The book is the same price, but Amazon just throws me a couple cents. Thanks!

Unshakeable: Your Financial Freedom Playbook

Cheers!

Rob

Hey I’m Rob, creator of Passive Canadian Income.

In 2011 me and my wife had almost $60,000 in debt and a negative $7,000 Net Worth. Through hard work and financial education we paid all that off. Now we are focusing on increasing our Passive Income Streams to make the money work for us. Feel Free to Follow along the Journey by clicking the Social Media links below or subscribing to get notified of new posts on the sidebar.