Tony Robbins Unshakeable is the book you need to read if you wish to get financial independence. The book is not so big thus even a non-reader will find it easy to read and grasp. The book has been written keeping a wider audience in mind. I have benefited a lot from the book and so I’m here with a detailed review of Tony Robbins Unshakeable.
Money, the biggest concern of the entire human race. All of us, no matter what corner of the world we dwell in, want to earn money. We want even more than money sometimes, such as Financial Stability and Financial Independence. Well, this may sound easy and seems something like you can learn in a matter of hours or a few days. However, it is the thing that is misunderstood the most.
I have seen statistics about how people with loads of money end up being bankrupt just because of the fact that they did not care about these two terms and spent their money absentmindedly.
In reality, contrary to what people believe, you just need a very little amount of what you earn to fulfill your needs. The rest of the money is the money you need to save and invest somewhere citing better returns.
Now, naturally, it comes into your mind that how can you learn all this then. Well, Tony Robbins is here with his book to tell you all about investing and help you attain Financial Independence.
In my review, I will be explaining a bit about Tony Robbins followed by what I learned from the book, the good and the bad, and whether you should read it or not.
So let us start then.
About Tony Robbins
Tony Robbins is a well-known life coach, business advisor, public speaker, and a very successful businessman. He has organized various seminars, keynotes, etc., and has helped millions to attain happiness, satisfaction, a sense of fulfillment, financial as well as emotional stability, and much more.
Born February 29th of 1960, he completed his education at Glendora High School, California, and has not attended any college.
Despite this, he is at acting roles in more than 50 companies each having turnovers in billion dollars.
Tony is a leader who is called upon by other leaders and also worked with 3 US presidents, athletes like Andre Agassi, Serena Williams, and entertainers like Usher, Pitbull, Green Day to Aerosmith, and many more.
He has written various best-selling books such as “Money: Master the Game” and hosts various seminars all around the world. These are so famous that the tickets are generally sold out for his events.
The cherry on the top, Tony is very active in donating money for the needy and good purposes such as feeding children in third world countries and other great causes like that.
Now let us get started with how the book is laid out.
Tony Robbins Unshakeable: The Content Of The Book
Now since you have known Tony, let us see what the book teaches and what Tony wants to tell you.
Addressing The Uncertainty And What Erodes Returns
It is an understatement to say we are living in times that are pretty interesting. Here you will come across Tony addressing this fact. From the Great Recession of 2008 to the unsettling nature of politics in the US, you will find all these uncertainties addressed in this book.
In order to make it easy for us to understand the fact that there isn’t much difference in our reality than other times in history even in the most turbulent time with the help of advice coming from seasons and top-notch investors as well as the past.
Despite all of this, the market has the tendency of continuing on an overall positive trend if the investors stay invested in the market for a long. It may seem to be something that requires nerves of steel. Still, in reality, you need nerves of steel only if you are someone who keeps a constant tab on what and how the market is and listen to the investment gurus shouting out loud on your televisions.
His advice is to not pay heed to what is going around in the market until and unless you are someone who needs to make decisions on rebalancing the portfolio each year because of the continuous ups and downs which may drive you crazy. But if you are someone who is in here for the long-term, then the ups and downs in the short-term are insignificant for you.
The next thing you are advised to look for is the fee. Fees are often horrifying and hidden, which basically means you are even paying what you think you aren’t paying. Wall Street is all about the business of making money, and the financial firms are handling your money only because of the fact that there is something hidden for them too.
Just like any corporate enterprise would their fundamental focus is to maximize their profits. You should be well informed about what the fee is from the variable, fixed and recurring to back end and front-loaded that is being levied by your advisor or the fund company. The total cost might come out to be staggering with the potential of cutting the average of the returns of an investor into half.
Mitigating Risk And Volatility And Choosing Judicious Investment.
One of the most crucial aspects of finding the right investment is where you are getting your advice from. The only source you should trust for an unbiased opinion as Fiduciaries. It is imperative to keep in mind that not every financial advisor is a fiduciary. As a matter of fact, is a significant chunk of financial advisers are nothing but mere brokers meaning we are asking a salesperson for advice.
As Buffet has stated very rightly that you do not ask your barber if you need a haircut or not similarly asking for advice from a salesperson makes no sense.
What makes things even worse is the fact that some of the fiduciaries are brokers too, leading us to question the hat they wear when they advise on fund options. Robbins emphasizes finding the advisor who is a fiduciary because only a fiduciary can find a needle in the haystack in order to attract tremendously lucrative commissions of brokerage.
That being said the commission is worth the effort as these fiduciaries work to act according to the best interest of yours and recommend funds that can offer the performance of a superior level at a cost which is a fraction of what you would invest otherwise in something like index funds.
You also need to receive sound advice on the types of funds in case of asset allocation that will help you reduce the volatility and risk that is associated with your profile.
In Robbin’s point of view, the best of all advice is to hold a portfolio of real estate, bonds, stocks, and all other exploratory investments that work in alignment with your personal finance goals and also your objectives.
Peter Mallouk, Tony’s business partner and contributor, emphasizes the fact that it is never appropriate to work with an approach of a cookie cutter. It is imperative to keep in mind that our portfolio should work in alignment with us and our needs and merely not on the basis of our risk tolerance and age.
To make it easy, Tony has listed the four vital rules you should be following when you are selecting an investment.
- Do not end up losing money as the more money you lose it gets even more challenging to make up for your loss.
- It would be best if you looked towards mitigation of risk exposure and increasing the potential payoff. Tony calls this “asymmetric rewards.”
- You also need to ensure that your investment is tax efficient. To give you a hint, the funds that are actively managed are not usually because of the frequent activity of selling and buying.
- Diversify by choosing investments that are uncorrelated.
3. Protecting Yourself From Your Own Self
We are the worst enemy of our own selves. We are of the opinion that we require nerves of steel even when we usually don’t. It is unfortunate that for an average investor, their most powerful motivator is the sense of fear. It is imperative to establish an action plan beforehand and also agree upon the action plan which you will take.
We also need to choose a co-pilot who can keep a check and help us ensure that we are not doing anything which is not part of the plan or something in just the heat of the moment.
Tony too has emphasized the fact that the greatest of investors have a wing woman/man in order to keep a sanity check of this kind.
This can be someone who is knowledgeable, a fiduciary, or a friend who is constantly successful in his/her efforts of investment. Only, in that case, we can feel secure as we reduce the potential of us behaving in an irrational manner with the hard-earned money of ours.
Robbins also shares a piece of advice about the optimization of the returns on investment and self-management. Here he talks about how the less we feel our need is, the higher the chances are that we will be both successful and well as satisfied in both the short term and the long run.
Tony Robbins Unshakeable: Who Is The Book Unshakeable For?
The best part about this book is that no matter what your level of investment expertise is, there is something for everyone. One of the sections discusses the financial advisors that are registered dually and are a topic which I have rarely come across ever before. Thanks to some legal loopholes and the dual licensing you can find these advisors acting as fiduciary.
They are even stockbrokers who can sell you the investments which might not work the best in your interest. On an average of 3,00,000 plus financial advisors merely 1.6 percent are strictly into fiduciary. I also came across a list of questions that you must ask the financial advisor in order to choose the one who can work in the best of your interests.
In the book, he also talks about 401(k) plans and the high fee associated with them. Tony Robbins has also discussed the actions you should be taking in order to alleviate them. Since the laws of 2012 are enacted, fortunately, you have much more disclosure with respect to the fees that are charged by the employer under the 401(k) plan and how they snatch away your returns.
Tony also discusses that he partnered with a financial advisory firm Creative planning and America’s Best 401k the company which offers employer retirement plans and mentions both of these in this book. The biggest advice that Tony gave is to hire a financial advisor who works on a fee-only and thus conflict-free basis like Creative Planning.
Tony Robbins Unshakeable: What Is Great About The Book?
Tony is known for writing books that have the potential to be sold. This is not merely because of his reputation and name, but because of the writing style, he follows, which is pretty conversational.
The way he presents the ideas and concepts make it simple to understand for everyone in one go and also ensures that the quotes he put into use are super reliable. And you cannot argue about the insights you get in the books because it is based on interviews with more than 50 masters in the arena of finance like Buffet, Graham, Bogle, etc.
What is more appreciation worthy is the fact that the book incorporated fundamental information in the whole quarter of volume like the Money: Master The Game. Robbin’s book on investment can prove to be a drug that can entice readers involved in the conscious investment.
What Is Not Great About The Book?
There is no doubt on the fact that Robbins is an ultimate and seasoned salesman, and you can see that skill in this book as well.
Though the fact that the profits from the book will go to his effort of providing free meals to the needy is appreciation worthy this does not mean repeatedly selling the idea that I should be using the services regarding wealth management from the firm he is in association with is appreciated.
I agree they have an excellent reputation, are one of the best, act as fiduciaries, and can also offer you a second opinion. Still, the focus should be more on the book and the basic fundamentals it talks about. The constant hard selling is the prime reason for this book, not getting a 5-star rating. It found it strange to add a section regarding wealth psychology.
Though it was great in my opinion, it would have been even more impressive if there was a standalone volume because for me it seemed to be something that came out of nowhere.
Tony Robbins Unshakeable: My Take For The Book
Previously, I read the book “Money: Master the Game”. It was written by Tony Robbins and was totally based on how to invest money, where to invest money, how much to invest, and all.
This book was also initially the same but in reality, this book is an introduction for someone who wants to learn investing and at the same time, doesn’t want to pay steep fees for financial advice. You can simply call it a stripped-down, beginner version of the bigger picture by Tony, in the form of “Money: Master the Game”.
This book is the one you should consider before reading the other book so that you can gain a wider perspective while reading later.
Unshakeable is a book that Tony wrote so that he can read out to a wider variety of audience. The book is very short and does not require any prerequisites in order to read and understand it. And it sure seems like Tony did exactly what he wanted to do.
As for my opinion, I will recommend that you need to read this book for sure if you want to learn about investing and such related terms.
Tony has surely developed a way to engage the readers into the book and keep them reeled in. His way of telling stories and instances really keeps me inserted throughout the course of the book and never lets me leave the book in between.
One more reason I was attracted to this book was the fact that Tony dedicated all the profits of this book to the campaign of Feeding America. Under this campaign, he has been helping in feeding numerous people with one book feeding up to 50 people.
In the end, I would surely say that if you want to start investing and learn about it, this book is one of the best options you have to consider. This book sure is a must-read and is very well explained and completed with no significant setbacks.
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FAQs | Tony Robbins Unshakeable
👉 What is the cost of Tony Robbins Unshakeable book?
The book costs you around $20, and you can buy it from various online sites, your local book store or from Tony’s website itself.
👉 What percentage of Tony Robbins Unshakeable book's earnings is sent in order to feed the poor?
100% of the book’s earnings are sent to help the needy. Yes, you heard it right, every penny of the earning is sent for the right cause.
What are the prerequisites required to read this book?
There are absolutely no prerequisites required to read Tony Robbins Unshakeable book. This book is completely set on the beginner level and it won’t ask you to know things in order to read and understand this book.