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Unshakeable is the #1 best-seller in personal finance of 2017. In this video, I will reveal some of Tony Robbins’ greatest financial advice from the book.
The greatest books to master your personal finances: http://bit.ly/3b8SOeQ
Top 5 takeaways from Unshakeable:
0:40 1. Winter is Coming … But WHEN?
3:01 2. Don’t Overpay for Underperformance
4:34 3. If it Walks Like an Elk and Talks Like an Elk, it’s Probably an Elk. Or a Broker.
6:08 4. Follow the “Core Four”
7:53 5. The Biggest Threat to Your Financial Success if Your Own Brain
– Takeaway number 1 is that winter will come, but so far, during the entire life of the stock market, spring has always followed.
– Number 2 is that you should avoid fees at all costs, especially if they cause your investments to underperform.
– The 3rd advice is that a financial advisor can help you a lot on your journey towards wealth, but you need to be picky when choosing one as they often have other priorities than your capital gains.
– The 4th takeaway is the Core Four: Avoid losing, create an asymmetric relationship between risk and reward, take another look at your tax-expenses and diversify.
– Lastly, the 5th tip is that you can understand and execute takeaways 1-4 and still underperform in the market if you don’t learn how your brain is trying to constantly fool you to make the wrong decisions about your investments.
My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there – investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties – I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett – the greatest investor of our time – says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process – upgrading your money-making toolbox.
What to ask your financial advisor:
1. Are you a registered investment advisor?
2. Are you (or your firm) associated with a broker-dealer?
3. Does your firm offer separately managed accounts or proprietary mutual funds?
4. Do you (or your firm) receive compensation for recommending particular investments from a third-part?
5. What’s your investing philosophy?
6. Do you offer services beyond portfolio management?
7. Where will you hold my money?