Tony Robbins 7 Simple Steps to Financial Freedom – Lewis Howes

so I'm here with Tony Robbins thanks so much for coming I'm very excited about this interview you are actually one of the three people I've been wanting to get on the show since I started the school yes you were one of them Will Smith and in the rock okay all three of you are extremely inspiring and you're just up to such big things in the world and that's what the school greatness all about some very excited very excited to talk about your new book thank you money master the game I am a very slow reader and I've only probably read four books cover to cover ones The Alchemist yeah great book once a 4-hour workweek and I'm almost finished with yours okay this is quite an accomplishment I mean it's a big book for anybody it's a huge conscience but so interesting and I feel like I've done a pretty good job of earning a lot of money over the last few years yes before I never knew how to make money yeah I was an athlete I was trying to make it to the NFL that was my only focus was playing sports I didn't never learned about how to make money yeah so when I was able to dive into this and really learn the ins and outs of making money but actually allowing money to make money for you exactly anyway to sleep make money while you sleep that was so interesting and I feel like I've done a good job of making money over the years but there's so much more in here that I'm like fascinated by it so she cuz I did the same thing you know I come from a very poor background and we had no money for food at times so quite literally and it was it was rough so I want to make sure money wasn't a you know an issue for my future family so I figure out how to make money and I figured if I'm I'm no 23 I figured I'd make a million dollars in a year I went from 38 thousand to a million and you don't do that buy some new strategies the psychological shift as well as a strategy shift right but then I made the same amount of money for seven straight years even though I built a dozen more companies I have more people than ever but it was like unconsciously what do you want more than a million dollars what do you you know you greedy and and I was it I was actually staying where was I was in I was a Milwaukee Wisconsin I arrived at two o'clock in the morning on my birthday I didn't have a private plane so I had to go right for different connections where I love and I get in this place and it's a horrible place and I call my kids and I'm parking his room on the phone and they Maria used to run my house get my kids I said you know Maria I'm sorry it's so late but I won't talk to my kids all happy birthday hoping and then she walked you to mr. Robbins you know she says I never dreamed I'd live in the castle cuz I have a place going and I just want thank you I feel like a princess she goes last night I was sitting in a jacuzzi looking out of the water and thinking out luck yeah but I'm in the Ramada Inn in those days looking at this moose fed this woman is really rich so I finally decided to listen if I can make them you know thirty thousand a million that it's not about money it's like gross I wouldn't yeah I'm gonna make three million but I want to make more of a while I sleep but then I really begin to realize it doesn't matter how much money you make it's really your capacity to take your creativity and stop trading time for money it's the worst trade in the world everybody's a financial trader yeah they don't realize their trainer the training time and you can't get more time so this book is how to take anybody an average person a millennial just getting out of college with a bunch of debt and saying how do I really make this work or a baby boomer saying how do I still retire and the way I did it was I said I want to interview 50 of the most brilliant financial people who world as most people don't know that I've been working with Paul Tudor Jones one of the top ten financial traders in history for 21 straight years and he hasn't lost money in one year in 21 years right we made money and the tech blah blah that happened in 2009 11 in 2008 when the market was down 51 percent from top to bottom he made 28 percent positive right round so every day literally he emails me I monitor him I come see him I work with him and pays me seven figures a year to be able to do this and I've been able to continually help him go to the next level but quite frankly I've learned more from him I think than I could ever teach Yeah right and he helped me open these doors so this book is the best from every self-made billionaire that I could find Carl Icahn I mean I'm sitting down to this guy he just made 2 billion dollars in the last 18 months off a 30 million dollar investment off Netflix he sent an email or a tweet out tweet out about Apple saying was undervalued and became 2 hours later was were 17 billion more by a tweet so the people I've got to hang with over the last three four years have been I've got a PhD in finance from the people controlling the world's finance and when I try to do is the diesel a dude that is make it simple bring it so I could train anybody else because in this business well you don't know will hurt you financially so I want to know how to protect people and hang out maximize and that's quite a book it's it's incredible and what I want to know is why we weren't taught these things growing up me too tell me right so if you were if I were like okay Tony we're giving you the the key to the education system yeah and how would you apply what teachings would you apply into about finances learning about this how to generate wealth as opposed to trading time for money but really leveraging invest yes what would you start implementing well the first thing you want to teach anybody a child a kid anybody is that you'll never earn your way to freedom you just don't you look around and you see you know Curt Schilling if you remember from Boston Red Sox yeah in a hundred million dollars year he's broke bankrupt as Warren Buffet said what made you the wealthiest man in the world he smiled he said three things he said living in America has great opportunities having good genes that lived a long time and he said the last thing is compounded interest and we all know about compound interest but I give an example a book of this guy theater Johnson worked the ups never made more than 14-thousand an income in his entire life in a year and in all the ages were seventy million dollars and how did he do it all he did was he took a percentage of his income his percentage was 20% his family said you can't we can't save any money but he met a friend who said did you pretend there's a tax the tax just took the money away from you and you never see it the money comes out of your camp there was an investment account you'll be financially free so he was disciplined he didn't look at it it happened 70 million dollars by compounding so people's mistake is and kids don't know this adults don't know this that you won't or anyway they're but you can compel your way there what I wanted to do is say where do you put that money now that's the trick right that's my secret no the first trick is actually doing almost nobody does right the second trick is you really have to understand where you're gonna get hurt because the fees the fees are just destroy people you have a look after about the fees I was like this is incredible is it a wild it's nuts I mean there's so much money just on the fees just so people have an understanding 96% of all mutual funds never match the market mean they never beat the market and so I was just on a morning show this morning and at Michael Bloomberg's one of his guys have some of his money so why I'm you know this is the only industry I know of where people think they could be a doctor they think they could be a financial plan I said to myself look the statistics Warren Buffett toffee this is said rate al you told me this David Swensen took yell from 1 billion to 24 billion in two decades these people tell me right nobody beats the market except a couple unicorns that nobody has access to and I said I didn't say you're not one of them I said here's the truth 96% of mutual funds don't match the market that means four percent succeed no what are your chances of picking the right mutual fund people don't know what they're doing they put their money in a 401k they pick them you to find not knowing what it is if you play blackjack and you and I playing you get to face cards and your intermediate says hit me I wanna I wanna get one chance in a million money gonna ace you have an 8% chance of winning if you try to get a mutual fund you got the 4% chance of winning so when I show people is not only do you not get the result thinking logically if I hire someone else to do it they'll be better than me but in addition you pay around 2,000 percent more than it's worth meaning you get the same exact product the same stocks of you and the index right you want a piece of all of America's best companies say the Vanguard 500 index 500 op companies that cost point 1 7 % like less than two-tenths of a percent versus the average mutual fund is 3.17 somehow counting it in compound over time but first just hear that see understands like an average car sold America is a Honda Civic it's $20,000 you get the Honda Civic for 20,000 or you can pay 350 thousand that's the difference between point 1 7 and 3 1 7 but if you look at it over a period of like total to you 31 31 okay so let's assume you and couple buddies at 35 mam's put aside a hundred grand and you manage not to add any more money but to grow it at 7% slide of ups and downs in the market and you're 65 how much money do you have well if you paid 1% in fees over those 30 years 100 grand became 574 thousand bucks not bad for never having another dime if you had 3 percent of these have the same growth but 3 percent of these you now have 300 all and 24,000 plus half as much quarter million dollars 77 plus money and you had the same return it was just the fees so the world most people asking what are your fees they have no clue right so I've created a site you can go they can type it in you find exactly what your fees are and what you should be paying and it just it's highway robbery where in the world would you pay two thousand two thousand percent more for the same exact product you can only do it because the financial industry makes things so opaque so convoluted and people feel overwhelmed and hard to understand and there are that's why I try to come in here and go look how do you become the chess player not a chess piece let me teach you so you understand what's going on it's not that complex they use all these big words yeah but well you know what's going on you don't get screwed and more importantly you take advantage of the system instead letting the system take a mangie yeah I like that now you've coached some of the world's greatest athletes former presidents biggest CEOs who coaches you I've had a lot of people asking me to ask you this question yeah who Hank towards you who coaches you today I have always looked for people that were playing the game at a different level than I am and or or knew the road ahead hmm I always tell people anticipation is power if you're playing a video game against the child it's pretty disastrous right maybe not for you you're maybe a different generation for me it's like you know it's not the kid is faster and smarter if they played this game yeah 8 million times so they know the first shots here it's like it's out there and you're like reacting so when you're reacting to things you fail so my mentors have been people over here different people my earliest mentor was a man named Jim Rohn yeah as a personal about that speaker just touched my life then I was involved in neuro linguistic programming NLP when I was 21 22 23 years old in partners with a man named John Grenier brilliant man come matter that but in my last couple decades it's been people like Peter goobers the LA Dodgers and you know the Golden State Warriors NBA team and he's just probably got 52 Academy Award nominations so he's a mentor for me Paul Tudor Jones I coach but also I'm coached by him because they wouldn't get to pitch and catch and then you know I got some people in my life that you know if Steve Wynn is a dear friend of mine yeah most wise that is brilliant and these guys are all 18 years my senior so they know the road ahead and I'm able to learn from them in advance and then kind of anticipate things and that to me is incredibly bad yeah very cool now I want to ask you how you personally handle a breakdown because you I've been your workshop and incredible experience thank you and you teach people how to overcome their fears and how to have a break downs but how do you personally deal with it and do you even have any breakdowns yeah they sent me a list of questions you have just to kind of get me that was one of the questions I was like it's interesting it's breakdowns it's certainly not something I experienced it's not because I'm so talented or some really they're so fearless it's just you're like an employee you an athlete yeah you're in shape yeah you're not gonna have a reaction in your body like somebody who doesn't take care of themselves right so you know I believe no I don't believe in emotional intelligence I think it's useful but I'm orange tan emotional fitness mmm cuz intelligence is a capability Fitness is a state of readiness interesting if you are fit you can take that demand right now you can deal with it you can deal with that physical stress that emotional stress saintly she was psychological fitness emotional fitness right so I'm pretty fit and part of that is not because I'm so smart part of this is I've taught this for decades I've never had a woman who came over my seminars and in her early 80s probably and she would run in this room I have 10,000 people I think was you know she would a couple of ten thousand person events and she was getting this front row right away through there and she'd jump and go for it one break she came up to her signing a book for and she says she goes shrubs I've seen you in like eight of these I've seen you like when you're really I know I can hear your voice you're hurting or you haven't slept and she goes you always seem to be so up all the time how can I show up and I said well Parvez I attend all these yeah yeah I'm teaching it so there's a fitness of that but there's also you know I buried three fathers and one mother and you know that affects your life I've had a physician look me in the eye and say you have a tumor in your brain and so I've had those moments that when you've had extreme stress and you push your way through it you build psychological muscle it's like it takes a lot to knock me up you know in the early days we didn't have $50,000 keep the doors open how do we do it then I add you know graduated to five million asthma graduated to a partner that mine who kind of didn't do things well and I ended up owning a hundred million dollars cuz I had to take on his best hundred million dollars and but when you do all that stuff you know now my companies do five billion you know here so you you keep expanding what I would call really the circle of your the threshold of your influence sure everybody has a threshold of control and if you get beyond it you kind of freak out so it takes a little bit more I don't only have write down breakdown I'm doing it pissed off or get frustrated tired yeah but break down honestly no so I thought how do you handle if you get tired or something I sleep but you don't want to when I've had challenging times I'm gonna have so many tools yeah you know I don't happen to pull them out that good mostly so it's like you as an athlete you know you don't just physically break down right now you take care of yourself so constantly training that I think most people don't train their mind and emotions it's like I think the most powerful muscles to me are not physical as strong as important as they are it's like faith is a muscle purges muscle determinations of muscle playfulness is a muscle you know passion unexpressed weakens you know faith untested and gets smaller so I'm always I call it deep practice always pushing myself to the edge and push yourself the edge makes you stronger yeah in the book I was really excited to hear you talk about you say the secret to wealth is gratitude someone that look it says that I think maybe was someone else you were referencing yes I came from Sir John Templeton and every day I practice gratitude when I wake up and every night I always tried to say to my girlfriend or someone I'm talking to before I was asleep three things I'm most grateful for right now why I was pleased to see that I was like I'm on the right track if I'm given gravity but why is that the secret to wealth sure John Templeton is probably one of the greatest investors in history people don't know his name he start out with nothing he wasn't sir he wasn't from another country in the US and he decided that he wanted to understand wealth and so he saved $10,000 huge amount money in those days and when Hitler invaded Poland he developed a belief his belief was you make your money in times of maximum pessimism like if you around in 2008/9 yeah I was like right you could have bought you know the sands in Las Vegas you could about their stock for two dollars and 28 cents today at $67 it's a three thousand percent returns not bad you could have bought Citibank for less than a buck mm-hmm right so people in those times he understood that and so what he did was it everybody thought the world was gonna end he took ten thousand dollars he bought every stock on New York Stock Exchange it was a dollar or less including companies ever he thought were going bankrupt but when things are bad people think it's gonna be bad forever when things are good think it's gonna be good forever and they're always wrong life cyclical so there's a season for everything so once we got through World War two and when few years later guess what those same stocks made him a billionaire so nasty I said what's the secret to wealth his responsibly testicles you know you teach it is it one that he said gratitude as to why do you say that he said because if you had a billion dollars and every day you live pissed off and frustrated the quality your life is called pissed off and frustrated okay but if you have nothing but your euphoric Li grateful for whatever you have you richest person that you're gonna know he's and so doesn't matter how much money you got a feeling of gratitude so I do the same thing by the way I have a process I caught priming where I get up every morning how do you buy the morning but it's radical change to my body kind of alter my state and then I do ten minutes I never mess in my first three net minutes is what I'm really grateful for and I make myself think of at least one of those three that's something really simplistic there's something giant you know the wind out of my face is of that nature and then I do three minutes of strengthening healing I do three minutes of what I'm gonna create my world and I do that for a minimum of ten minutes every day because I believe you have to condition it you don't just hope that stuff shows up you set your intention each morning every day ya know so what do you most grateful for recently in your life so many things well it's Thanksgiving so one piece well one is my daughter is 40 years old and she's my child forever and she's gonna bring me a grandson Wow just kind of congratulations thank you very much that's cool ah but also it's Thanksgiving so for me it's a very emotional time because my family was fed when I was eleven we had no food at Thanksgiving and it touched me so deeply and I decided I was gonna get back so I was 17 I fed two families and then four and then eight and then I didn't tell me I was doing it and then I got my friends to do it and my companies grew and you know I've had 42 million people now over 37 years and but you know challenging this right this why not what I do is I decided you know write in this book and in the middle of writing it when I summer most people even notice Congress cut food stamps that are called food stamps anymore but I lived on it so I know what they are food stamps are my family family lived on but they cut it by eight point seven billion which means you eliminate two million people from the rolls overnight they still need to eat so I support all these profit organizations and feeding America's the largest in the country and so I'm gonna call attention to so if I donated all the profits in this book in advance how many people can I feed because I don't really feed two million through my foundation and I match it so I need four million a year and is it gonna be 10 million people like Wow and then as the years gone by I got more and more inspired and so now I'm gonna feed 50 million people personally I'm not just in the book I'm writing a larger check on top of it but also I'm working with feeding America to get matching funds to meet a hundred million people incredible so to go from my family not be able to eat to feed a hundred million people is a pretty amazing sense of gratitude and a sense of grace and yeah I've done my part but there's been grace in that as well it's amazing it's it's incredible what you're doing and very inspiring so thank you for thank you're doing that so any book you're feeling prominence for you yeah but it'll also feed on average 50 families that a hundred percent is being done probably that's amazing now I think I also read in the book I don't know if you said this for someone else is that the key to living is giving yes now I think I might have heard you say this actually back when I first saw you when I was 16 and an event and I remember thinking I don't have anything to give I don't have any money you know I'm are how am I supposed to invest my money yeah ten twenty percent every month and how can I give on top of that but I really understood that you know it's so valuable important to give and I work with a lot of nonprofits myself schools for kids around the world wonderful and I've seen a big impact in my life and the way I'm able to serve people Sir John Templeton told me that he's never seen anyone tithe which no tidings usually ten percent of when you earn for at least a decade who didn't become incredibly financially free Wow I think the reason is I had a moment like when my whole life changed it was kind of twofold I had I was I was really gotten like yourself back then like working my tail off trying to build a business and big goals you know you don't always succeed to start whether you know it was hard and I remember I was so frustrated because I was working 18-hour days and nothing was working and I was broke and I felt embarrassed you know I should be doing better than is there and so I was driving home from Orange County on the 57th freeway in st. Gabriel Valley I've never placed with a motor for you parties now – bag remembered school typically was almost midnight and I was at this breaking point and then I was like why am I not you know doing better and then I just pulled over the road nice to keep these journals I still have them written journals and I wrote big lines you know the secret to living is giving nice turning right and I realized I am so focused on what am I not getting nice thing about what I'm giving there so for six months Betty and turn me around but then you know something else to get in your body was in my head was in my heart but add on in that I stay and I started getting through some really tough times and I lost everything financially and I was mad and everybody was like I voted for the thousand bucks and you know I didn't do it well and he returned my phone call oh and what changed me was I I was down I know 20 to 23 bucks something like that of those twenty four dollars enough that I knew that I didn't money for food for the next week and I didn't have any prospects and I was living in Venice and his forehead square of a bachelor apartment feeling sorry for myself I thought you know well I gotta eat so I'm not gonna drive my car cuz I'm gonna spend the gas I'm not gonna pay for parking sure I'm gonna go to all-you-can-eat place and load up for the winter right so I can get more like one meal a day right and so there's a place called Marina del Rey not far from Venice and it's beautiful community and it's right on the water there's a place called El Torito it's still there so it'll a restaurant and had taco bar and all kinda stuff so I walked there for the three miles and I go my god I'm gonna go ahead and load up and I was all about myself and getting through this and this little look this woman walked the door I could very attractive lady that's probably I come and I'm waiting to see who her boyfriend is and there's nobody up there this is a little guy down here it was obvious her son ed wearing this three-piece suit you know a little fast he opens the door for a pulls out the chair for her and it was just he stared to his mother's eyes I mean it's just pierced in her eyes I don't know what it was was something about him was just so moving is such a sweet caring loving young man to his mother that moved me so I I paid for my meal I don't want left 17 18 bucks put it back in my pocket was left walked up the chung man a nudist myself I said hide over snakes his name's Ronnie and it's Ronnie I said so you really I said your class after I saw how you open the door for your lady I saw you how about the chair for your lady goes that's even more classic and I said so cool that you're taking out to lunch like that city Hills while I'm not really taking a lunch because I'm just 1100 job you know I said yes you are and I have no plan a little late just reach in my pocket took all the money had changed Pollack pickles and right in front of him he looked at me like this he goes I can't take that I said sure he can so why I said cuz I'm bigger than you are hahaha and he got this big grin on his face his eyes got this big and I didn't I just shook his hand I didn't look at this watch his mom and and I just walked out the door but he's gonna tell you story is I had no car I had no money mmm I did not I was euphoric I was like flying home I'm just like you know I look like an idiot I was skipping or something I and what I thought was I should have been like what did you just do I don't know meal when I we good at night I went on the night I laid out a plan and the plan was gonna take me you know ten days to week so I thought well people fast for a week I could fast for a week and I was this great mindset about it I woke up the next morning and I get the old regular snail mail shows up and it's this guy called a zillion times and wouldn't return my call it open it up there's a check thousand bucks plus interest and an apology Wow so I'm sitting there and I started to cry on a slate I was just like why did this happen you know and I know it was true but I decided that day this happened cuz I did the right thing cuz I didn't have a plan it wasn't a strategy I just thought this a little slow beside me I knew it was right and I did it and I didn't do it because I thought I could or I couldn't I didn't even think about it and that's the day became a wealthy man cuz I just could have any money but scarcity left my body and I had plenty of ups and downs since that time in various times in my life but I never went back to that oh my god you know how's it gonna happen yeah it's like breathing do you stop and say god is there gonna be in the air before you take a breath you know it's gonna be there right you don't you don't run your life by that aspect and so that to me is what it's about is showing people if you won't give a dime out of a dollar don't yourself you'll never give a million out of ten million or ten million 100 million they're just they're gonna happen but if you can do that now you you don't ever get me once garrison you start behind it you you you make a decision to get build it so how does someone you know when they're living in scarcity there's I mean fear yeah and it's like this emotional feeling it's in your body like you say when you're like I can't even pay for my meal how am I gonna like start giving what are some things that people can do to start overcoming that mindset or start strengthening it or shifting it I'll tell you what they do when was first in my home I got my dad my mom kicked my dad out when I was 17 she's very powerful when I am her father so they all learned how to get the boot she does and his side so she kicked me out next I was 17 Jason that with a knife she wouldn't hurt me but I wasn't going back in the room Bob and that's not to figure out what to do and I didn't play stay and the thing in somebody's laundry room for a while and I started reading a beating my mind and then I developed this little system and it's just so much really simple I tell people now as I say number one every single day you got to feed and strengthen your mind until you do that you're always gonna be in fear because fears automatic the human brain is designed for survival it's not designed for success your brain is not designed to make you happy that's your job right no they were gonna do it is if you feed your mind goes otherwise weeds go automatically but jitan my coach mentor Jim Rohn he's Tommy so Tony every day you got to stand guard at the door in your mind you got a new watch what's going in because if you're not careful stuff away to be said in all the times if somebody who cares about you said you know if you're the family yeah yeah if your worst enemy and puts sugar in your coffee so what happens is that sweet coffee goes with your best friend by accident or your family don't mean to we drop one plop of strychnine in your coffee you're dead he said so life sugar and strychnine and watch a coffee here in Iran so every day I decided I'm old enough honestly there was no internet that stays and pretty ancient I used to go the library because there's no patient help and I would feet i read biographies I'd leave people's lives and it'd make me go wait a second as bad as I think it is the greatest people were all had it worse sure so there's something here so you feed your mind I'm Jim Rohn you say to me skip a meal but don't skip reading said read 30 minutes a day I don't give a damn what it is today I don't mean internet crap I mean read something that a biography read something that's a strategy read something to change your life and the second thing I tell people is feeding your mind is great but you've got to also strengthen your body then you do that as an athlete naturally I learned to do that because fear is physical right you know you feel it and if you go work out if you go lift if you go run even if you're out of you just go from a tense walk that experience alone changes right every day in my life the first thing I do before I do my priming I am if I'm at one of my homes I jump in some hot water for fun and I jump in freezing water I have you know a river and one of my homes in the valley and I've got coal punches everywhere else like 157 degree water at home and what it does is like it's teaching my plane I do I tell my brain what to do and it does it it doesn't feel like it doesn't want to do it and every cell in your body is alive right so it doesn't have to be like two hours with something it can be said I do for thirty seconds but it's training your body to be strong because a strong body could strong mine and vice versa yeah the third thing I tell people is find a role model you know it seems impossible until you see somebody's done it so you know radios bass investors in history the guy was a caddie right you know his dad was a jazz musician his mom was a homemaker he's worth 14 billion dollars he probably he found someone to mentor him he found well you found multiple people tried to model right right you don't know explain to mentor but you find somebody you can model and when you start seeing that somebody else can do it and you see they really did mmm you start to believe you started to get certainty and then I for thing I tell people is it's massive action and constantly change your approach and then it's fine somebody worse off than you are and help them because when you do that it gets you out of yourself yeah that's what I really have people do that's what you don't think sedative or a basketball game we're two million people get fed anything not the one I do the one that I get people to do and it's amazing people go in there they see my god I thought my life that's tough but look at this person's life it makes you appreciative it puts life in perspective yeah I'm very cool now talking about feeding the minds yeah if you could only leave it three books behind you lay your life who three books behind your kids yes and or the men you know the message to your the world of like here's the three most important books that you should read what are those three books that look separate okay you I think three that's a tough one I don't know if I could do that but I'll tell three up top my god I'd say man's search for meaning uh-huh Viktor Frankl because all of us in our lives have experienced extreme stress I don't how much money Navin I'm coming from a lava respect to you you'll have your time it might be a health issue in your family it might be something happens to the economy is something happen to all of us and so to see how people that were put in the most insane unjust environment people that were in Auschwitz how they dealt with that unbelievable situation had the ones that thrived in spite of it and to go through Victor Frankel's way of understanding how great meaning in your life I don't think there's a more important book I think maybe the other one might be as a man thinketh because it's a book that you can read dozens of times in your life it's small and it's the core of everything as you think so you are I mean obviously the Bible is an extraordinary book or whatever religious document a person plays I unperson utley Christian but I tell people whatever you believe you need to practice it whatever it is because there are many different ways of connecting you know to to what does created us and then that's three already but I give you one more I think another one that's important would be understanding the life cycles of humanity there's a book called generations it's a big book it's like a thousand pages and her pages bigger this book I'm not but it's a book worth meeting because it shows you how as every hundred years eighteen hundred years we went through the same cycles like what we've just gone through economically in 2008 – 80 years before and even after a thousand years of Roman history and you see and when you begin to be able anticipate what's coming you know how to take advantage of the season some people freeze the death of the winter people that are prepared by snowboarders ski and have a good time so it's a brilliant book and it's by of Strauss and how it's work okay cool all right so there's before I'm curious why didn't you recommend when your books exactly mentor incredible this is a question from your son yes and I said is there any question you haven't asked your dad but you're still curious about and he said yeah you know he's pretty calm actually you know he's calm guys not outrageous like you he said that he said you know my dad does everything on such a big scale everything is big everything is huge impactful it's like the biggest it can be the best it can be yeah he said but I wonder what something small he's done that he's so proud of hmm so is there something small you've done you know an example was giving money to you know that child was a great example of that but there's something recently you've done that's so small you like really proud of a lot of people don't think proud is a good term I think it actually is ego is edging God out that's when you make up to make yourself feel good but I think if you really doesn't something you know you have and no one could take that from and so I'm proud of Who I am as a man I'm proud of the things that you know what goes on well the camera's not on hmm people around me all the time that will tell the people's stories about what I really likes I don't have to communicate that to people I get shared so I don't know I don't know there's there's so many things in life I don't measure them as big versus small sure my my wife was somebody who would seem one person who'd be thrilled and I had a see you know ten thousand I think so she's balance it out for me I still I feel like life is short and while you're here I would have the most impact that I can so I go deep and I go what but every interaction to me is an important interaction and and sometimes that interaction is just being kind I know it sounds a bit but a kindness can to the right place at the right time you know somebody can be suicidal you don't know they're being kind of the Cheney other state yeah there's a interesting story of a gentleman who was who wanted to kill a Nixon and he couldn't get access to Nixon it's true story and so he became wrote a journal that's how we know the details of it and he decided is gonna go after Wallace and gonna shoot Wallace and he actually did do that shooting and when they read his journal it was fascinating he didn't want to kill Mexicans he didn't like him or Wallace he just want to be famous you wanted me worth something and one of the reasons he didn't kill Nixon is he was going after Nixon and he was this far from the president and all of bumped into him just as he's reaching his pocket to get this gun and in Millis everything's frenzied and wants us to become the most famous man you know in other worlds assassins and it's woman grabbed his hand and said I'm so sorry I'm just so sorry and he said in his journal afterwards his hand was on the gun Wow and her looking his eyes for this love in her eyes and this kindness in her eyes he said I couldn't make her witness that he put the go to oh man that sleep makes his life alright so after Wallace you know but that's the power of the movement of kindness so I think we underestimate you know somebody came in fed my family was 11 years old you know obviously the person must not be alive so as I've told the story I haven't read Yankee and have reached out to me yeah but I mean imagine what the impact of that was by that one little act of kindness creating yeah anything so you go back to 31 yeah 31 years my you're my age yeah one of the three things you do with your money based on the information in this book you know talked a lot about asset look allocation yes the fees understanding where you're putting your money and understanding finding a fiduciary right yes yes talk a lot about that but what will you do if you're making knowing what I know today yeah go back you got 31 years old what would you be doing well three three things you do first well you have a good income so we're talking about you yeah sure say you're making six to seven figures that's wonderful yeah so what I would do with that range is I would take and I would model one of the best masters it was me one of the people that's the occasion some people were clear is the one thing that David Swensen he took 1 billion turn into 24 billion in two decades into a billion a year right think about that Volvo of doubling it's just mind-boggling and I asked him I said what what are the dials were the only dials we can touch and he said Tony to increase your return there's only a few things you can do he said you can make better selections of stocks he said you can have better timing he said and he got a better asset allocation he said the first two will never happen because the first to cost money got to hire somebody ever he's wrong in the timing he said asset allocation which simply means dividing your money into different buckets some of those buckets are secured so that even though you think you're gonna be a genius you're gonna make money no matter what that money will slower but it'll always be there it'll give you freedom for the rest of your life there's a growth bucket which is also a risk bucket we forget that yeah because we're they'd write down your taught me said Tony everybody invests and what they think they know you grew up with real estate you're not a genius but you made money in real estate because anybody can genius you think you know stocks oh you're genius you know in 1999 right you're genius in 2000 you know Ted was thing started though that he said whatever you invest in in your lifetime that area is gonna drop 50 to 70 percent there's a zero exception show you mathematically and it could show you historically so he said you have to diversify even though you don't want to and you have to divide these monies up so every one of them taught me different asset allocation but one of the one that I think is the most valuable for anybody to really take advantage of his radios because Ray Dalio is figured out why is it in 2008 if your stockbroker your financial planner said we're gonna protect you we're gonna put you half in stocks and half in bonds huh why do they both go down you weren't protected at all saving up into two thousand any figured something out when you think you're in a balanced portfolio you're not balanced and the reason is stocks are three times more volatile then you'll find it bonds what does that mean means when you think you're 50/50 when you're 50/50 with your money but you're not 50/50 with your risk you're 95% at risk at 5% of the good side that's why everybody loses so you figured a formula cuz he said look someday I'm gonna be gone yeah I want my kids to have the money long term I want you know all the philanthropic things I'm doing to be taken care of so he spent 15 years studying the markets and figured out how do I design a portfolio that'll make money every time like if it loses money it lost in 75 years it's lost 1.6 percent when it's lost but it's the right 85 percent of the time if you want to Vegas if you were planning to work for 75 years and make money 85 percent of the time and when you lost you lost one point six percent and when you gain you gain more than ten percent the biggest loss in 75 years it's three point nine five percent less than four Wow so why do people not make in the stock market because when you take up fifty percent hit they all say stay in nobody the average person never stays it sure if you look at the last 20 years the average person the stock market over 20 years from 1993 to 2013 has averaged nine point two percent pretty cool compounding double your money pretty damn quick doing that right but the average mutual fund investors made two point five percent why cuz they freaked out they sell what it goes down they buy what it's looking good just the wrong time to buy it off they don't know what to do so what Ray Dalio strategy does and by the way he's never shared this strategy ever pummelling gives it in here he gives it his mind back man push through my teas live and I hold him in the end I said look you're not taking me more money help the average guy out he lays it out you can do it yourself or you have someone else do it for you but it takes 15 minutes a year and 85% success over seventy five years and then I could take any time to last 30 years he lost four times one of those is point zero zero three percent so it's really great and again the most even lost less than four percent average one point nine percent so if you're looking for a plan I put some money there and the other money that I would do is I take some that money and I look at what are the biggest trends mmm I have a lot of my money also in senior housing and the reason is twofold it's a demographic inevitability there's this giant wave of baby boomers and there isn't enough senior housing to take care of them and I also I like it I'd like to create a quality place or something to be able to be live and take care of and so forth but there's huge income from it and there's the growth in the asset itself so I'd be looking at one of the big trends but I'm gonna make sure I walk down a segmented by money that just I took a percentage of my income no matter what and I made it really big minutes after working in it and that's right now I don't have to work and what's ironic is when you interview people that make at least 7 or 50,000 a year right just under a million eighty percent of them say they'll never retire mmm unity people that make a very little amount of money they all talk about when they retire right and the people that do retire say they'll retire after 75 like you know Steve Wynn's my buddy is 72 Warren Buffett's eating what for that they're working you know oh you know I bet with Jack Bogle created Vanguard he's been in the business 63 years Wow he's 85 years old and such a genius sit down there he spent four hours with me by the way just he came by for 45 minutes he wrote in the book here goes play Robbins came by for 45 minutes four hours later a provocative and probing interview by the defense but but you know the guys still in the game yes the real goal is not to have to work if you don't work you will start pretty mad it doesn't all need to be productive to feel alive yeah interesting couple of questions left for you sure one of them is what's your definition of greatness I don't know I think everyone has greatness I don't like that separation I I respect it because in sports I think it's really easy to measure but sports is one aspect of life you know I think everyone has opportunity credit to me being the greatest being outstanding to stand out from all the rest and and as you know in sports it can be by you know a few microseconds right you know the Olympics you know it could be in those hair and you stand out if you stand out you show the people what's possible not everybody likes that some people get angry and think showing them up other people get inspired I've always been inspired by somebody who's the best in the world at what they do and so I think greatness is somebody who just will not settle and finds a way to do B share and creative life what they want as opposed to fitting in I think most people are trying to not be rejected I you know I wrote in this book I you know I took a quote from Aristotle saying you know how do you really live your life well if you don't want upset anybody it's really simple don't do anything don't say anything go be anything and everybody will like you yeah but if you want to have a quality life I think you just have to put yourself on the line and so to me greatness is people that put themself on the line to keep growing they won't settle hmm so what's next for you why you still what are you still up to I mean why are you going after inspiring hundred million people feeding on a million people what's next why not like what else do you do there life I look at there are lots of challenges I mean this is a problem I wanted to go after it's a problem because people are being abused by a system the new me means to amuse it it's just sure it's not an evil system but just you have large corporations that are set to make a profit and that's their job they're not set up to make you as an investor more profitable right they take care of their sugar over first so they get all the fees they can they make late the system so I want to get people freedom you know to me that's valuable but you know what I do with my life as I look at what I see that moves me you know I always tell people you'll ask me about speaking to say you know how do you meet an effective speaker so don't speak about you're not passionate about you know and you don't have a true true edge where you can help somebody yeah if you get a massive value and you're passionate about it and talk about otherwise shut that you know what up you so when I find things that I'm very passionate about I like to go deep I think we live in a facebook world the Twitter world a tweeting world texting world where people are by technology not realizing they're becoming more and more shallow neither people ending relationships like texting that right like are you kidding me why is the person up static understand you see this like are you kidding but technology is making us things that our Facebook friends our friends I mean yeah give me a break there's only a few friends you can go deep with you can't have 10,000 friends yeah and go deep and I think a lot of people are because technologies making us go faster and faster so I look for things to go deep in and I think in in our lives there's a few areas that matter your body your emotions your spirit your relationships your economics and your business those half dozen or so areas I like one deepen and I'm gonna keep doing it sure Chad Merida asked me to he said all the interviews you've done lately for proneness book it was very intellectual and he said I'd love to see you get him in his physical state and show your move so in a second I want to see if if you'd be open to doing a thumb wrestling and getting into state so we can show people how you do this getting in state the state is that's not what it's about I would like to see you see how you get into it right before you going on stage I've never met a go to state to thumb wrestle arm wrestle but before we do that if you're open to it I just want to I want to acknowledge it Tony I think it's you know you've had a huge impact on my life and so many people are not posted last night you know maybe in Rio and Tony is there any questions you guys might have and hundreds of comments and questions and people saying how you've impacted their lives so I just want to say thank you for creating the spark for so many people including myself when I was 16 and watching the first time where did you come to similar it was in st. Louis Missouri at the Javits Center back in the day yeah it was uh I don't think it was you PW was like so windy that wasn't one I might have been warned today I remember was like you know Donald Trump was there to Camille or like a lot of people were there yeah and I remember my dad bought us floor seats like probably halfway back on the floor yeah and there was a moment when you walked out and you came out and you walked right next to me and I remember thinking first off why you're really big what smaller then but I remember thinking how you know this is so inspiring that someone can take an idea of what they want their vision and create it and manifest it into speaking in front of thousands of people and really adding so much value to the world and so many people's lives and I remember then taking that's something I would love to do one day is be able to turn a vision into reality and you know so I want to acknowledge you for creating the spark and so many people every workshop you provide so many people are moved and changed yeah and so I think it's so powerful what you've created and I want to know that one of your triggers yeah yeah that's very cool thank you a cool I'd love to do this move if you do it well Fred you go yep so what do you wonder you want a thumb wrestle I wouldn't sing either your move if you can show oh okay let's just totally artificial ice so it's like we're talking about passion right it's about passion oh yeah thumb wrestle but it's all ready to go one two three four I declare a thumb war okay have you ever done this before no go for it okay you got to get my thumb down are you gonna hold it for three seconds okay thank you so much thank associated thank you so much continue if it works thank you awesome I got to give you a hug you

35 thoughts on “Tony Robbins 7 Simple Steps to Financial Freedom – Lewis Howes

  • Tony's story was mind blowing… I had no idea. I really need to get to his conference. POWERFUL!!! Thank you for the value!
    Rose Parma

  • Jim Rohn was Tony Robbins first employer. He learned success from Rohn. You can listen to him for free on YouTube and he has all the answers. Don’t pay for expensive seminars. They just take Rohn’s principles and dress it up in jargon. Listen to Jim Rohn. It will change your life.

  • Carl Icahn is a worthless human being…if he is human at all. Ask the people whose lives he ruined so he could increase his wealth. If Tony doesn't care about the familes Icahn destroyed, then he is not the man he presents himself to be. Surely tbere are a few wealthy people that are ethical he could have interviewed for his book

  • I have a question: does one determine ten percent before or after taxes have been taken from your check?

  • One thing he said that I’m glad to hear is “You don’t always find a mentor, but find people you can model”. And that to me is key. Sure, you should try and find a mentor. But if you can’t, then model yourself off of others, and gather as much info you can from books and anything else you can find.

  • This was a brilliant interview. I have loads of notes and I have been listening to Tony Robbins for years, went to a LIVE and still – this interview was very powerful.

  • Got $25000 through the help of Matty who helped in funding my US bank account without any upfront payment and no interest for a project now worth over $500,000. contact him via whatsapp @ +15186023105

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  • Great interview. You either believe JESUS is the ONLY way to the FATHER or HE's a liar and there are many ways to GOD, but you can't have it both ways.

  • I understand that everything goes in cycles and markets go up and down but I have ONE question… when AI makes millions of people unemployed, and governments introduce UBI (Universal Benefit Income), surely this is not something that can be predicted/planned for because the introduction of AI and robots has never happened, so surely this would be a period where literally NO ONE will know what the markets will do..?

  • Thumb wrestling😂❤… Tony is full of knowledge and so humble always enjoy consuming his content

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