Unshakeable by Tony Robbins | Book Summary | 5 LESSONS TO LEARN
Channel: Progress in Life
Date: 2017-12-17

Hi everybody, today we are gonna talk about “Unshakeable” by Tony Robbins. In this video I will share the 5 most valuable lessons to learn from this book with you. “Unshakeable” by Tony Robbins is one of my favorite books regarding financial freedom and investing. It’s a very action-based book, and it provides a lot of tools to help you achieve your financial goals. 

► SUBSCRIBE TO MY CHANNEL
You want more information about personal finance, investing and self-development? Subscribe to my channel and don't miss any video of mine! https://goo.gl/Wo2uk6 

The first lesson is to Pay Yourself First
Pay yourself first by taking a percentage of your income and let is automatically transfer it to a investment account. I would recommend to take 10 to 20% of your income. Doing this every month will ensure that you’re investing on a consistent basis. Automating will make things easier, so you don’t have to think about it and you will not be tempted
to spend the money on something unimportant.

The second lesson is: The greatest danger is being out of the market. Some people are afraid to invest, because of the financial crisis we had. There are a lot of people who think that the stock market is going down, that the winter is coming. However if we look at the the historical information we see that winter is coming every year on average. These are long-term patterns, which is always restored. 

The third lesson is: Start Today
Like I said, the power of compounding will do it’s work, but it will take time. You need to let it do it’s work for you for a long period of time, with a minimum of 30 years. That’s why it’s important to start as early as possible. Someone who starts investing at the age of 20 has a big advantage at someone who starts investing at the age of 25 or 30. This is all because of compounding. You don’t have to invest a lot of money, but just the fact that you start early will give you an advantage. Even if you only have 100 dollar to invest every month, do it! This 100 dollar every month can lead to a big amount of money if you invest it for more than 30 years.

But what does compounding mean? Compounding is a process where the value of an investment increases, because the earnings on a investment earn interest as time passes. So you get interest over interest, which is called compound interest, and over time this makes you a lot of money. This is how the rich people get richer and how you can achieve real financial freedom. Become an owner and not just a consumer. 

The fourth lesson is: Diversification 
Don’t put all your eggs in one basket. Many people make the mistake to put all their money into one asset class. If this asset class is not doing well you could have a problem. For example, in the stock market there could be a bear market, in this case it could be useful to have other assets as well. So use different assets classes to spread the risk. The core of your portfolio should be index funds, which have a fairly low risk, because it’s a portfolio of stocks from a total index. So if one stock is not doing well, you can compensate it with other stocks within the index fund. 

Besides the index funds you have to combine different asset classes, which have all different risk profiles and rates of return. You should look for assets with an asymmetric risk/reward ratio. This means you should only invest in something were the rewards are extremely high for the risk you are taking.This allows you to achieve a higher return without taking too much risk. Examples of other asset classes are stocks, bonds, real estate, private equity funds, and gold.

The last lesson to take from this book is to remember that it’s a Marathon, Not a Sprint. If you truly want to get big results with your investments, you have to remember you want to achieve sustainable long-term returns. Don’t fall into quick wins, because you think other people are getting rich faster than you. Always remember that it’s a marathon and not a sprint.

I hope you liked this video. If so, give it a like and leave a comment below. If you think it’s useful for someone else, share this video.

► CHECK OUT MY OTHER VIDEOS:
"The 4-Hour Work Week" by Tim Ferris Book Summary: https://youtu.be/2BlpQy-y988
"Rich Dad Poor Dad" by Robert Kiyosaki Book Summary: https://youtu.be/-QBovBNsE8A

OTHER BOOK SUMMARIES: https://goo.gl/5cU9Nc
PERSONAL FINANCE: https://goo.gl/iM9yCU
INVESTING: https://goo.gl/TcwsHa
SELF DEVELOPMENT: https://goo.gl/NE36RF