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Unshakeable by Tony Robbins | Commuter Experience Book Reviews

dailyburst by dailyburst
June 4, 2020
in Videos
0

Unshakeable by Tony Robbins | Commuter Experience Book Reviews

Thanks for watching my video! See Ver and his fiancee featured on CNBC Make It!
https://www.youtube.com/watch?v=hKLL5W4a4kY

Find me on Instagram! @verstarr

Unshakeable is about achieving financial security and freedom through smart investing.
Remember my review of Simple Path to Wealth? Remember F-You Money? Here are the top 10 points I got out of the book.

1. Investing is not just for the 1%. I’ve had people in my life say they’re too afraid to invest because they don’t want to put money in and just lose it all with a crash. Or I’ve also heard it’s too complicated and people don’t care to learn how to invest. Investing is not a get rich quick scheme, if it was, it’s basically gambling. The point this book is trying to get out at the get go is to create a rock solid unshakeable foundation of financial security underneath you so eventually, you won’t be only working for money, but you’ll have money working for you.

2. Index Funds: the simple and safe path to wealth. This will become a broken record on this channel if I have anything to do with it. Would you believe me if I know a solid investment that gets an average rate of return of 7% adjusted for inflation with dividends reinvested? Index funds tracking the S&P500 or any broad catalog of stocks will provide a positive return in the long run. They’re simple and safe. Thank you to the late John Bogle and his colleagues.

3. The magic of compound interest is crazy. Tony Robbins mentions a couple examples:
The S&P 500 returned an average of 10.28% a year from 1985 to 2015. (…)
Let’s say you’d invested $50,000 in 1985. How much would it have been worth by 2015?
The answer: $941,613.61. That’s right. Almost a million bucks! That’s a double on your money on average every 7 years. Compound interest is the 8th wonder of the world. He who understands it, earns it. He who doesn’t, pays it. -Einstein.

4. Fees are your biggest enemy. You will be shocked when I say this but if you currently don’t invest and might think you need some financial advisor or planner to tell you how to invest, you’re wrong. For the average investor or a good amount of people, they pay a large amount to fees to trade through their broker or to pay for fund managers to ‘manage’ those accounts.

5. Market Falls are normal. Don’t be afraid. “When the market falls more than 10% it is considered a correction.” These happen and people start thinking they need to sell so they don’t lose any more money. These are poor financial decisions driven by emotion. Stick the course, realize these falls are normal.

6. The market always bounces back. The most recent one we can recall is the Great Recession in 2008. Many were out of a job, foreclosures left and right. But over a decade later, we have blown past the 2008 highs and more. Other events like the .com boom and even the Great Depression in the 1930s, the market came back.

7. “Be greedy when others are fearful” -Warren Buffett. When the stock market was tanking in 2008, Buffett was buying up stocks investing billions of dollars into the market despite the fear. Many fear stock market crashes but rich investors look forward to them because everything goes on sale. Does that mean wait for them? No, invest now with time on your side.

8. Diversification: How to avoid losing money even in crashes. Index funds are already diversified as it is as they track many different stocks defined in the index. Other investment vehicles that you may do could be real estate, bonds, investing in other countries around the world.

9. Almost done here. True wealth is emotional wealth. “What we really want are the emotions we associate with money: for example, the sense of freedom, security, or comfort we believe money will give us, or the joy that comes from sharing our wealth.” You get these by constantly growing and giving to others.

10. Finally, how to stop suffering and living in a beautiful state all the time. You have to choose not to suffer. We look for what is wrong in our lives. The important thing is to stop and breathe. I’m personally working on this myself. If you can work towards being grateful and appreciative, you can become Unshakeable.

Unshakeable: Your Financial Freedom Playbook on Amazon: https://www.amazon.com/Unshakeable-Your-Financial-Freedom-Playbook/dp/B01N6U1D0Y/

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Note, this is not financial advice and I encourage you to do your own research about building wealth.

Business Inquires: commuterexperience@gmail.com

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