Business · Finance

Unshaken by the Market

UnshakeableRobbins, T. (2017). Unshakeable: Your Financial Freedom Playbook. New York: Simon & Schuster

The market slides and panic ensues. Unemployment goes up, people default on loans and the media becomes a more dreary affair than usual. In a recession and in a lesser Bear Market, the public gets scared. This book is to teach you to keep your resolve and remain unshaken in the face of what is usually viewed as adversity.

The overall practical advice of this book is to keep as much of your money as possible and invest in such a way to do that. I would assume most people aspire to do that when they set out to make investments. Why would anyone intentionally want to loose? One of the main investing tools at our disposal is the use of index funds that “simply buy and hold every stock in  an index such as the S&P 500” (Robbins, 2017, p. 52). This is justified repetitively through the book with a combination of antidotes and money growth projections. Regarding investing in general, good solid advice is given such as to “diversify across different asset classes” and “diversify across time” (Robbins, 2017, p.110).

In typical Tony fashion, he takes some time in the book to address the emotional component of being an investor. Tony Robbin’s (2017) says, “The single biggest threat to your financial well-being is your own brain” (p.141). In chapter 9, Tony takes the reader through several exercises to calm their minds and gain perspective on their situation. Certainly, these are valuable exercises beyond just the scope of this book which is financial advising.

A major criticism of this book was the conspicuous promotion of the financial planning firm,  Creative Planning. I was fine when it was first introduced in Chapter 1. But, it became irritating when it kept coming up. Tony Robbin’s is on the board (Robbins, 2017, p.13), so the baked in promotion makes sense. Regardless, it is a little too obvious.

If you are a beginning investor, definitely read. If Intermediate or Advanced, do not expect a big revelation, but rather picking up a few good pieces of information. For me it served as confirmation that some of the decisions I have already made were good for my financial future. Overall, I found this book to be a good overview for financial planning and educational.

Colette Molteni
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