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After interviewing 50 of the world's greatest financial minds and penning the number-one New York Times best seller Money: Master the Game, Tony Robbins returns with a step-by-step playbook, taking you on a journey to transform your financial life and accelerate your path to financial freedom. No matter your salary, your stage of life, or when you started, this book will provide the tools to help you achieve your financial goals more rapidly than you ever thought possible. Robbins, who has coached more than 50 million people from 100 countries, is the world's number-one life and business strategist. In this book he teams up with Peter Mallouk, the only man in history to be ranked the number-one financial advisor in the United States for three consecutive years by Barron's. Together they reveal how to become unshakeable - someone who can not only maintain true peace of mind in a world of immense uncertainty, economic volatility, and unprecedented change but profit from the fear that immobilizes so many. Through plain English and inspiring stories, you'll discover... How to put together a simple, actionable plan that will deliver true financial freedom Strategies from the world's top investors on how to protect yourself and your family and maximize profit from the inevitable crashes and corrections to come How a few simple steps can add a decade or more of additional retirement income by discovering what your 401(k) provider doesn't want you to know The core four principles that most of the world's greatest financial minds utilize so that you can maximize upside and minimize downside The fastest way to put money back in your pocket: uncover the hidden fees and half truths of Wall Street - how the biggest firms keep you overpaying for underperformance
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Section 1: Understand the rulebook
Section 2: Use the unshakeable playbook
Section 3: Have an unshakeable mind-set
Table of Contents
The first step to becoming unshakeable is to know the rules that govern the financial world. There are really just four rules you need to know and obey:
Rule 1 Know that winter is coming; and plan accordingly
Pretty much every investor knows instinctively that compound interest is the most powerful engine of wealth generation which has ever been invented. The longer you let your investments compound, the better. Compound interest can take modest amounts of capital and turn them into massive fortunes given enough time, which is why it's always better to start investing when you are young.
It's hard – almost impossible in fact – for a person to earn their way to financial freedom because living expenses have a way of increasing the more you make. The real route to riches and financial security has always been to set aside a portion of what you earn and to invest it so that it compounds over many years. That's the only way you will become wealthy while you sleep and get into a position where money becomes your slave.
Once you start investing, the stock market should loom large as the all-time best vehicle for compounding your money long-term. As you begin to invest in the stock market, keep these facts in mind:
1On average, there will be a market correction (10% decline) about once a year.
2About one in five of those stock market corrections will end up being bear markets (where the values of stocks will fall by 20% or more).
3Nobody can predict whether the market will rise or fall in the immediate next few days or months.
4The stock market always rises over long periods of time despite numerous short-term setbacks.
5Based on historical track records, bear markets have always happened every three to five years. On average, they last about a year.
6Every single bear market in US history has always been followed by a bull market, without exception.
7The greatest danger to your future financial freedom is for you to be out of the market because you fear market turmoil. You can't win by trying to miss out on bear markets. You have to stay in the game to win.
Rule 1 is that market corrections, bear markets and recoveries are going to be happening all the time. These should not be a reason to sit on the sidelines waiting for tranquillity because that will never come. Instead, you need to be in the game so you have the power to utilize those market movements to your own advantage.
Invest your money in the stick market so you can take full advantage of history's best compounding vehicle bar none. Don't get scared off by the market fluctuations but stay the course. You know winter is coming so plan accordingly and be prepared to stay in the game.
"The key to making money in equities is not to get scared out of them." –Peter Lynch, fund manager, Fidelity Investments
"Sitting on the sidelines even for short periods of time may be the costliest mistake of all." –Tony Robbins
Rule 2 Watch out for Wall Street's hidden fees and half-truths
The majority of the financial professionals who work on Wall Street are genuine and hard working but the undeniable fact is Wall Street exists first and foremost to make money for itself, not for investors. It is full of corporations looking to maximize profits for their shareholders – that's their employee's focus and they get rewarded handsomely for doing that.
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