Unshakeable
What asset classes will give you the highest probability of getting from where you are today to where you need to be?
Tony Robbins • Unshakeable
None of us likes putting effort into things that make us feel unsuccessful and out of our depth! When people are forced to make financial decisions, they often act out of fear—and any decision made in a state of fear is likely to be wrong.
Tony Robbins • Unshakeable
Core value proposition of a good financial advisor.
The stock market is a device for transferring money from the impatient to the patient. —WARREN BUFFETT
Tony Robbins • Unshakeable
...and the fearful to the courageous.
You need to learn the rules of the financial game, who the players are, what their agendas are, where you can get hurt, and how you can win. This knowledge can set you free.
Tony Robbins • Unshakeable
Concept framework for understanding and navigating financial risk.
From 1996 through 2015, the S&P 500 returned an average of 8.2% a year. But if you missed out on the top 10 trading days during those 20 years, your returns dwindled to just 4.5% a year. Can you believe it? Your returns would have been cut almost in half just by missing the 10 best trading days in 20 years! It gets worse! If you missed out on t
... See moreTony Robbins • Unshakeable
These are some of my favorite investment facts ever.
But while the market returned 10.28% per year, Dalbar found that the average investor made only 3.66% a year over those three decades! At that rate, your money doubles only every 20 years. The result? Instead of that million-dollar windfall, you ended up with only $146,996.
Tony Robbins • Unshakeable
A mix of fees and terrible behavioral implications.
Your advisor should start by getting a clear picture of where you are today (your starting point), how much you’re willing and able to save, how much money you’ll need, and when you’ll need it (your ending point). Once these needs have been clearly identified, your advisor should provide a customized solution to help you achieve them.
Tony Robbins • Unshakeable
Do you think it’s a coincidence that your online trading platform looks and sounds like a casino, with green and red colors, scrolling tickers, flashing images, and dinging sounds? It’s all designed to unleash your inner speculator!
Tony Robbins • Unshakeable
Your edge is time, don't let the brokers proceed to take more trades from you than you need.
How bad does it get when the market really crashes? Well, historically, the S&P 500 has dropped by an average of 33% during bear markets. In more than a third of bear markets, the index plunged by more than 40%. I’m not going to sugarcoat this. If you’re someone who panics, sells everything in the midst of this mayhem, and locks in a loss of mo
... See moreTony Robbins • Unshakeable
If you take one thing away from this book, let it be this. So many people set their bar as the S&P 500, not realizing what that volatility actually feels like when it comes. Unless you have lived through bear markets without cashing in any of your ships, or better yet, made the decision to invest more during the downturn, you don't get to say you have the stomach for it. It always feels like the drop is different (and perhaps worse) than the ones in the rear-view mirror.I took over management of a family trust in 2007, right before the market collapsed in 2008. It was the largest sum of money I had ever dealt with, and it felt terrible to see it drop precipitously within months. I had trailing stops that automatically sold out of many of those positions and was frightened to re-invest. How long was the downturn going to last? Thankfully, I regrouped and put that money back to work right away. When the market recovered, it came back insanely fast; so fast that if I had waited and tried to time it, I would have missed a large percentage of the recovery. I'm happy I handled it the way I did but it was a rude awakening to what it can feel like to manage other people's money.