Unshakeable: Your Financial Freedom Playbook

by Anthony Robbins

spells out where you’re trying to go as an investor, what you have to watch out for, and how you plan to navigate the journey securely.

Share your flight plan with someone you trust—ideally, a sophisticated financial advisor. He or she can help you stick with the program by making sure you don’t violate your own rules with impulsive survival-brain decisions.

An important component of these investment rules is deciding in advance how you’re going to diversify by allocating a specific percentage of your portfolio to stocks, bonds, and alternative investments. What will your ratio be?

If you don’t lock it down, circumstances will change and your mood will change with them. You’re likely to react to the moment, instead of sticking consistently with an asset allocation that’s ideal for you over time.

Mistake 3: Overconfidence Get Real: Overestimating Our Abilities and Our Knowledge Is a Recipe for Disaster!

humans have a perilous tendency to believe that they’re better (or smarter) than they really are.

we consistently overestimate our abilities, our knowledge, and our future prospects.

We each envision ourselves as a member of the “I’d never do that” moral minority.