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"I Got RICH When I Understood THIS..."| Tony Robbins & Lewis Howes

Lewis Howes・77 minutes read

Decide not to suffer daily for a beautiful life, take control of your financial success with strategic investing, and prioritize gratitude and love to combat stress and suffering. Choose fulfillment over external achievements, focus on the present moment, and work with skilled professionals to secure your financial future effectively.

Insights

The decision to stop suffering is vital for maintaining a positive daily life.
Unrealistic expectations from others can lead to disappointment regularly.
Personal actions, even with skill and discipline, may not always yield the desired outcomes each day.

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Recent questions

How can I achieve financial success?
By saving early, investing wisely, and minimizing fees.
What is the key to living in a beautiful state daily?
Recognizing and releasing stressful thoughts, focusing on gratitude.
How can I navigate the financial landscape effectively?
Educate yourself on fees, work with fiduciaries, make informed decisions.
What is the significance of diversification in investing?
To mitigate risks in various markets like real estate, stocks, bonds.
How can I achieve inner peace and fulfillment?
By focusing on gratitude, love, and joy, and appreciating the present moment.

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Summary

00:00

"Tony Robbins' Financial Freedom Playbook"

Decision not to suffer anymore is crucial for living in a beautiful state daily.
Expecting others to act as desired daily is unrealistic.
Personal actions, even with talent and discipline, may not always be correct daily.
Happiness tied to expectations is fleeting.
Tony Robbins is a guest on the School of Greatness podcast.
Tony Robbins' new book is "Unshakeable: Your Financial Freedom Playbook."
The book aims to guide readers from their current financial state to their desired one.
The book addresses the unprecedented financial landscape, including negative interest rates.
Saving and investing early is emphasized for financial growth.
Compounding and minimizing fees are key to financial success.

11:48

Investment Insights: Professionals, Diversification, and Strategies

Mutual funds are managed by professionals who make investment decisions on behalf of investors.
Despite the assumption that professionals are smarter, high fees can negate any potential advantage.
David Swinson, Yale's Chief Investment Officer, turned a billion dollars into 25 billion in two decades.
Many wealthy individuals, like movie stars and athletes, have gone bankrupt due to poor financial management.
Diversification is crucial in investing to mitigate risks in various markets like real estate, stocks, and bonds.
Having a second business with minimal involvement can provide financial security during business troubles.
Ray Dalio's investment strategy, "All Seasons," has a historical success rate of 85% over 75 years.
Corrections in the stock market, dropping 10-20%, occur on average once a year for the past 116 years.
80% of corrections do not escalate into a bear market, lasting an average of 56 days with a 14% drop.
Panic selling during market downturns is a common mistake, as the market itself does not cause losses.

23:53

Market Trends: History, Timing, and Success

In 1987, amidst financial turmoil, a $8 stock was predicted to drop to $1, but Tony Robbins coached a man who made 200% profit.
Robbins has coached this individual for 24 years, emphasizing the importance of history in predicting market trends.
He recalls a day in March 2009 when Citibank's stock price rose from $97 to $610 in a month, showcasing the unpredictability of the market.
Corrections in the market occur annually, lasting a couple of months, with an average drop of 14%.
Bear markets historically happen every three to five years, lasting about a year with an average drop of 33%, presenting a significant opportunity for financial growth.
Every bear market in the US has been followed by a bull market, leading to substantial financial gains.
Missing the top trading days in the market significantly impacts returns, with studies showing a drop from 88.2% to 4.5% if the top 10 trading days are missed.
Attempting to time the market can be detrimental, with research indicating that missing the best trading days can lead to a drop in returns to as low as 2%.
Dollar-cost averaging, staying invested, and having exposure to stocks are crucial for long-term financial success.
Maintaining a high-energy state, or a "beautiful state," is emphasized as a key factor in achieving financial success and overall well-being, with a focus on shifting from suffering states to beautiful states to end unnecessary stress and negativity.

35:55

"Ending Suffering Through Appreciation and Gratitude"

The speaker has a 90-second rule to end suffering as it arises, stemming from the realization that the brain is not designed for happiness but survival.
Poverty in America, even at its worst, places individuals in the top 1% of earners globally due to the stark contrast in income levels.
Stress and suffering are triggered by believing in stressful thoughts, leading to an exploration of common stress-inducing thoughts like business concerns or personal failures.
Three triggers to suffering are identified as loss, less, and never, which revolve around beliefs in losing something valuable.
The antidote to suffering is appreciation, where one trades expectations for gratitude to shift their perspective positively.
The speaker shares personal experiences of stress while flying commercially and the realization that expectations lead to misery.
Expectations are highlighted as the root of suffering, with the speaker emphasizing the importance of appreciating the present moment.
The speaker advocates for living in a beautiful state by recognizing and releasing stressful thoughts, focusing on gratitude, love, and joy to combat suffering.
Success without fulfillment is deemed the ultimate failure, emphasizing the significance of inner peace and fulfillment over external achievements.
The rarity of individuals who are both financially successful and consistently happy is noted, with the speaker aiming to find ecstasy and passion in each moment for holistic wealth.

47:41

Tony Robbins on Health, Resilience, and Wealth

Tony Robbins shares about his vulnerability regarding health, specifically a health scare due to mercury poisoning causing memory loss during events.
He mentions his ability to hide this memory loss during events but acknowledges the vulnerability it brings.
Tony discusses his experience with mercury poisoning, starting at 123 on a scale of 0 to 5 and now down to 9, highlighting the progress in his health.
He reflects on facing various challenges in life, including health scares, financial struggles, and personal losses, which have shaped his resilience.
Tony emphasizes the power of choice in shaping one's life, attributing his success to conscious decision-making and the belief in personal responsibility.
He discusses the importance of focusing on what one can control, rather than what is missing or in the past, to avoid feelings of depression and dissatisfaction.
Tony shares insights on powerful leadership, citing examples of successful women leaders like Mary Call Erdos, emphasizing the importance of adding value to others regardless of gender.
He recommends his book "Unshakeable" co-authored with Peter Mallouk, highlighting the impact of fees on wealth and the importance of working with fiduciaries in financial planning.
Tony stresses the significance of choosing skilled and responsible financial professionals, particularly fiduciaries, to avoid excessive fees and maximize wealth growth.
He concludes by encouraging readers to take control of their financial future by educating themselves on fees, working with talented professionals, and making informed decisions.

59:14

"Peter: Fiduciary Broker with Ethical Growth"

Fiduciaries are legally responsible for their advice, ensuring they act in the client's best interest.
Dually registered investment advisors can switch between roles, potentially leading to conflicts of interest.
Peter, a top broker, identified abuses in the financial industry and partnered with the speaker to address them.
Peter specializes in creating home offices for managing investments, mortgages, taxes, and legal matters.
The partnership led to significant growth in assets managed by Peter, from 17 billion to 23 billion.
Peter offers free financial plans through getasecondopinion.com, charging less than 1% for ongoing services.
The speaker emphasizes the importance of adding value to others, finding joy in life, and recognizing love as the most significant aspect of existence.

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