I actually picked up the audio book of Unshakeable: Your Financial Freedom Playbook for the Asia trip I have been posting about. We had lots of down time on buses and planes so I stocked up on audiobooks. The other book I finished and wrote about on Steemit was Star Wars Maul: Lockdown. I like to alternate my reading between self-development books and fiction novels.

Why I Chose To Read Unshakeable 

A good many people these days speculate that we are on the brink of a huge bear market / recession. Almost every month stocks are reaching new highs. The growth seems artificial as the feds around the world continue to print their fiat money and manipulate the markets.

Typically there is a bear market every 5 years. If you follow this trend we are way overdue on a market correction.

There are fortunes to be made in large market corrections. Warren Buffett would not be the wealthy man he is today if he played his cards differently during the crash on Black Monday (Oct 19, 1987), when the Dow Jones Industrial Average dropped 22.6% in a single day. During the drop Buffett bought all the stocks he could at an extreme markdown. 

One of my main goals in reading Unshakeable was to learn and pick up advice that can be applied in the cryptocurrency markets. These are markets with honest assets and technology (blockchain) which will revolutionize the world as we know it. 

Book Description 

After penning the #1 New York Times bestseller "Money Master the Game," Robbins returns with a follow up playbook that will take you on a step-by-step journey to money mastery.

Along with his co-author Peter Mallouk - the only man in history to be ranked the #1 financial advisor in the U.S. for three consecutive years by Barron's – Robbins pulls back the curtain on how to become an unshakeable investor and achieve true peace of mind in a world of immense volatility and unprecedented changes in the global economy.

Source - store.tonyrobbins.com 

The Sparknotes Summary 

Don't wait to invest, invest early and let compounding interest work in your favor. When investing, diversify across asset classes and industries. The book promoted index funds pretty hard. 

The biggest lesson was quite simple, don't let market corrections and bearish trends shake your confidence in your decisions or investments. Moreover you should be doubling down and investing more during these times. The market has always bounced back. (at least so far)

What I Liked 

100% of the proceeds from the book go to Feeding America. Tony Robbins has already fed over 200 million people over 2015 and 2016. His goal is to feed over 1 billion people with Feeding America over the next 7 years.

 Feeding America is a United States-based nonprofit organization that is a nationwide network of more than 200 food banks that feed more than 46 million people through food pantries, soup kitchens, shelters, and other community-based agencies. - Wikipedia 

The book stressed the fact the everyone should be investing. If you want financial freedom in your future, you need to be investing in something. 

Tony Robbins takes little to no credit for the advice in the book, he honestly attributes any success the book might have to the contributions from the well known investors he interviewed. 

I liked the section where Tony dives into a conversation about taxes. He explains how taxes are a burden and how they prevent him from giving to more charitable organizations. You, not a government are a better decision maker for what your money should be spent on or support. 

Tony encourages readers to be owners not just consumers. For example, if your buy Apple products, you should also hold Apple stock.

Additionally I liked the multitude of interesting facts on the markets and the investors Tony interviewed. 

One of the best tips Tony provided was to keep a crash shopping list and keep some funds in a place where you can easily get out and into a marked down stock. The worst place to keep value is in cash. You will lose big time doing this. However at the same time you want to be ready to scoop up assets during a crash and you don't want to be forced to sell at the bottom.

What I Didn't Like

Tony Robbins failed to mention cryptocurrency or Bitcoin in his book Unshakeable. This is a very concerning point. Blockchain assets will completely disrupt the future of finance. In fact the disruption is already happening. 

Not investing in cryptocurrency is the biggest financial mistake you can make right now. 

In the book, Tony over promoted his previous book, Money Master the Game and his partners company Creative Planning. It seemed that he found a way to sneak mentions of both of these in almost every chapter.

Tony was also a bit too bullish on index funds. Yes you can make decent returns with index funds but to truly make good profits in the short term and capitalize on opportunity, you need to take risks.

Conclusion 

I liked the book for the most part and I think there is solid information and advice in it. I laid out what I liked and disliked, but the main point I will make is that this book is mainly for passive investors, not day traders and those truly looking to make exponential gains in the markets. 

Image sources: pixabay.com

Hi there, I’m Will.  First and foremost I am an entrepreneur and voluntaryist.  I aspire to help build a more free world, one that we all want to live in.  Some of my biggest passions include cryptocurrencies, marketing, finance, cannabis, traveling, bodybuilding, snowboarding, motorcycles, and Subarus.  All pictures are my own, taken with a GS7 Edge or GoPro Hero 4. I release everything under CC0 unless otherwise stated. 

My website: williamjohnsonlong.com