Unshakeable – Book Summary
UNSHAKEABLE SECTION I: WEALTH: THE RULE BOOK
In Unshakeable: Your Financial Freedom Playbook , Tony Robbins says that any hidden charges, in the long run, will do to you what Godzilla did to the cities. Knowledge is your first defense, get rid of hidden charges. It pays to read all the fine prints because when you know a threat exists you can be able to defend yourself. Knowledge is not power is only potential power; real power is in execution when you put that knowledge in practicality that is power. Execution trumps knowledge.
A dollar used means one dollar less that you can grow in the coming years.
The way you prosper is by meeting the needs of others. A successful investment is largely a matter of smart asset allocation, know what percentage to put in stocks, bonds, cash, real estate, gold…etc.
Compound interest has sure power to catapult you to financial freedom more than anything else. “My wealth has come from a combination of living in America, some lucky genes, and compound interest.” Warren Buffets
Compound interest is the real route to financial freedom. Decide to put some money aside and invest in place they can compound for years, this is how you make money while you are asleep, you make it a slave instead of you being a slave. The stock market is a good place to compound your money.
Thrive to be a producer and not a consumer, save, and invest. Pay yourself first and let that percentage be deducted automatically from your income. This is how you build the financial fund, a source of lifetime income. Aim to increase your saving to 15%, 20%, or 30% of your income.
Successful investors find a good winning strategy and stick with it; they avoid making decisions based on fear. No one can be able to consistently predict the rise and fall of the market.
“The only value of stock forecast is to make fortune-tellers look good.” Warren Buffet.
“The stock market is a device for transferring money from impatient to the patient.” Warren Buffet.
The greatest danger is not a market crash, but being out of the market. One key to financial success is to get in the market and stay in it so that you can capture all gains. As Jack Bogle said, “Don’t do something just stand there.” Financial winter is always followed by spring. Such wisdom will aid you to proceed without fear. Stay in the market. Courage is rewarded, fear is punished.
“Hell is truth seen too late.” Thomas Hobbles
Read! Read! Read! Why? Because in the financial world ignorance is not bliss, but pain and poverty that is deleterious to you and your family.