4.0 out of 5 starsTony is great but this is very much for the American financial ...
1 August 2017
Tony is great but this is very much for the American financial market. Always good to read Tony's books for the positive aspect but don't bother expecting too much if you're UK based in terms of the financial guidance.
After hearing mixed reviews about Money: Master the Game! I was a little dubious about buying Robbins' follow on book Unshakeable.
I am pleased to say this book is an easyread, which is easy to follow and isn't an absolute information overload! The chapters are clear and concise and offer a deeper insight into how financial markets work and the psychology behind investing.
The book is more of a basic guide to investing, which focuses heavily on index funds as opposed to 'beating the market'. The final chapter of the book covers psychology and how when bear markets strike, you can keep your cool and not pull out of the market! It's not about timing the market, but time IN the market.
I gave the book 4 stars simply because some sections aren't relevant to a global audience. Talking about 401ks and specific investment platforms only available in the USA are pretty irrelevant for anyone outside the USA. You can however skip past these chapters without missing too much. Just research tax free platforms in your country, such as a stocks & shares ISA in the UK for example.
This book isn't intended to solve all your financial troubles, but it is intended to give you the correct mind set and knowledge to invest your money wisely with the guidance of a fully qualified financial advisor. I would strongly recommend if you are seriously considering executing any of the information contained within this book, seek a professional second opinion (which is what the book recommends anyway).
Perfect for those new to investing. It mostly guidance on saving strategies and passive investment for the average person who is not likely to be able to beat the market. The book is a great starting point, and Tony Robbins' writing style means it is easy to read. I would suggesting reading this and his 'Money: Master the Game' book to begin with and then moving on to 'heavier', more detailed books on investing.
This is a very good book and is meant to complement his previous book - Money Master the Game.
The book is very well written and definitely stirred some emotions within me. The first section is a Rule Book, the Second is a playbook and the third is based on the psychology of wealth
Whether you are a newbie or have more experience with investing and working with money, this book really does have some useful information within itself. It also uncovers lots of the misunderstandings people have about investing in mutual funds for example. It has a specific chapter written by Peter Mallouk who talks about how his company Creative Planning navigated through the last bear market in 2008-09. This also really brings alive key points they are driving on the investment mindset.
The book has information showing why you should not get scared of corrections and market crashes, winning strategies of the best investors in the planet, fees, taxes and finding a really good financial adviser.
I am a newbie to this and what it has done is given great insights into financial freedom and crucially has created the motivation and confidence that I can take control of my finances and my financial future no matter what is thrown at me. This is where the book is particularly effective and it allows me to start doing some more research into Index funds for example.
Some of the examples given e.g. the power of compounding are not new but what Tony does effectively is use some great examples to really drive home the power of this concept.
The theme of the book is long term investing so don't expect to see anything about short term money gains. However, what the book is effective in doing is communicating a very positive message, key insights and also strategies that can truly help you get more control and therefore be unshakeable.
It doesn't promise that everything is going to be great and here is the magic pill to make your next million and be financially free. It sets expectations that the market itself can be tough but having an understanding of key concepts can help you not only survive tough times but thrive, leverage and tremendously grow your financial assets. It highlights opportunities, what mistakes to avoid and is very good at getting you pumped up to do something. It certainly did for me.
Pros: Quick and easyread. It is a slim book compared to his previous so is something you can easily get through in 6-10 hours. Well laid out - It starts with the rule book, then playbook and finishes off with the psychology of wealth Includes an App - You can get access to the App which has some really great content on it. These really adds value to the book and as with other Tony Robbins content it is very effective. Great examples and emphasis on key concepts - The examples really help understand the key concepts and really get you thinking Thought provoking - The last section of the book - The Psychology of Wealth is very powerful. Tony starts with saying "The single biggest threat to your financial well-being is your own brain. The then uses this chapter to really help us understand how we can silence the enemy within and win this battle. All his profits from this book are going towards his charitable work in feeding America. He has fed 250,000,000 already and his target is to feed over 1 billion people.
Cons: Very USA Market focused. All examples are for the US so as a UK reader you will have to complete your own research. Lacking in detailed implementation information - It refers to Money Master the game on a few occasions. So in essence you would need to look at that book if you wanted to understand further concepts. Both would work well together but once again the other book is also very USA Market focused
I am very glad i bought this book as it has really helped me with my current situation. I feel quite positive about the future and most importantly I have tapped into some inner motivation to help me drive some actions that will help in my journey.
The key reason I did not give this 5 stars is because it is US focused and knowing lots of readers on UK Amazon site would also want to have more actionable and applicable advise on the UK Market.
This is definitely a great book and easy to read. I would recommend reading this with a relaxed mindset, I've done it while I was on holidays. If you are young or want to improve your knowledge on how to manage your investments and financials this book could be really helpful. It has a lot of insights and also lessons from the best investors in the world. You might need to read it at least more than once in order to absorb more knowledge from it, as well as taking notes.