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

Tony Robbins 0:00 I made the decision, it's the most important decision I believe of your life, that I'm not gonna suffer anymore. Life's too short to suffer, and I'm gonna live in a beautiful state every day. What are the chances of everybody doing exactly what you think they should do the right way every day?

Lewis Howes 0:13 Zero.

Tony Robbins 0:14 Zero. What are the chances of the people you love doing what you want them to do the way you want to do them every day?

Lewis Howes 0:19 Zero.

Tony Robbins 0:19 What are the chances of you doing [laughs] the right thing every day even if you're talented and disciplined?

Lewis Howes 0:23 Zero.

Tony Robbins 0:24 Zero. So your happiness will never last as long as it's got expectation behind it. [upbeat music]

Lewis Howes 0:33 Welcome everyone back to the School of Greatness podcast. Very excited about our guest, Tony Robbins.

Tony Robbins 0:38 Good to see you again.

Lewis Howes 0:39 So good to see you. This is interview number three that we've done together.

Tony Robbins 0:41 Oh, that's right, we have done two before, haven't we? Wow.

Lewis Howes 0:43 The first two both did over a half a million views on YouTube, uh, you know, hundreds of thousands of, uh, downloads on the audio. Some of our top episodes out of 450 episodes, so-

Tony Robbins 0:55 Wow, that's wonderful

Lewis Howes 0:56 ... excited to bring back the third one. And, um, for those that aren't following Tony, make sure you're following this guy. He's one of the most inspirational coaches in business and life in the world.

Tony Robbins 1:06 Thank you.

Lewis Howes 1:06 And also in finances and how to make money. And the new book is Unshakeable: Your Financial Freedom Playbook: Creating Peace of Mind in a World of Volatility. And it's really a, a, a playbook, a step-by-step guide to mastery, right?

Tony Robbins 1:20 Yeah. Kind of go from where you are financially where you wanna be. I really wrote it because, um, you know, I wrote Money: Master the Game, and it's 700 pages [laughs] and a monster.

Lewis Howes 1:28 Yeah.

Tony Robbins 1:29 But my goal was, you know, I interviewed 50 of the smartest financial people in the world, the Warren Buffets, the Carl Ichans, the Ray Dalios, the, the best in the earth, and I wanted to write a book that could take anybody and take them on the journey, or I could take my billionaire clients on the journey. And it became number one New York bes- bestseller, NY Times bestseller. I was thrilled with it. And I swore I was gonna write another book. I hadn't written a book in 20 years.

Lewis Howes 1:49 [laughs]

Tony Robbins 1:50 And then what happened was I was doing, I, I was doing, what I just did this last week, I was up in Whistler. We do change locations every year. But I do a financial program where I bring usually five self-made billionaires in five days, and then I bring 20 speakers, including them and myself, and we go deep into the... So this year I had Ray Dalio, who's the largest most successful hedge fund guy in the history of the world, produced more money for investors than anybody alive. Um, I had, um, you know, President Clinton. We had, um, you know, we had the, the top guy who became a billionaire in Bitcoin. It was pretty amazing. But a year and a half ago, almost two years ago, I had Fed Chair Alan Greenspan, and I spent three hours with him just, ah, getting in his psyche-

Lewis Howes 2:28 [laughs]

Tony Robbins 2:29 ... you know, up over supposedly lunch, was supposed to be 30 minutes.

Lewis Howes 2:32 Right.

Tony Robbins 2:32 And, I mean, he's 90 years old.

Lewis Howes 2:33 Yeah.

Tony Robbins 2:33 He's been, you know, the most powerful man in finance for 19 years across four presidents. And so, and then I got him on stage for two hours, and the last question, we're talking about negative interest rates. I mean, if you think about it, we're living in a world that never existed before.

Lewis Howes 2:46 Hm.

Tony Robbins 2:46 The Wall Street Journal hired a historian to find out when was the last time we had negative interest rates, and in 5,000 years of banking history it's never happened, right?

Lewis Howes 2:54 Wow.

Tony Robbins 2:54 Where you give your money and they, you pay them to give them your money. I mean, they've always paid you and then loaned your money and made money off of it. It's the craziest thing. There's, there are bonds right now, like Toyota's buying the bond that they're selling for .006.

Lewis Howes 3:07 Mm-hmm.

Tony Robbins 3:08 At, or 001, excuse me. At that rate, it takes 69,000 years [laughs] to double your money. So I'm having this conversation with him-

Lewis Howes 3:14 [laughs]

Tony Robbins 3:15 ... and, you know, he's, head's swirling, and we're talking about things, and at the very end I finally said, "So tell me, what would you do if you were back maybe the head, head of the Fed today? I mean, in this crazy environment, what would you do?"

Lewis Howes 3:26 Yes.

Tony Robbins 3:26 And he paused, and he paused, and he leaned forward and he said, "I'd resign." [laughs]

Lewis Howes 3:31 [laughs] Right, exactly.

Tony Robbins 3:32 I was like, that did not exactly encourage things. And then I interviewed Howard Marks, who runs Oaktree Capital.

Lewis Howes 3:38 Hm.

Tony Robbins 3:38 In 2008 when the market was tanking, he was buying a billion dollars a week every single week 'cause he saw everything going on sale.

Lewis Howes 3:45 Right.

Tony Robbins 3:45 And he said to me, this was like six months ago or nine months ago, he said, "Tony, if you're not confused by what's going on, you don't know what's going on. We are in a place we've never been financially." So I saw so much fear, and you know, we're in the eighth year of a bull market. It's the second-largest bull market in the history of the world.

Lewis Howes 4:02 Right.

Tony Robbins 4:02 And we all know there's gonna be a crash, but while you're busy worrying about the crash, a lot of people miss the bull market. It's up 250% since 2008.

Lewis Howes 4:10 Hm.

Tony Robbins 4:10 It's up 14% since Trump was made president in November.

Lewis Howes 4:14 Right. It's crazy, right?

Tony Robbins 4:14 And a lot of people on the sideline going, "It's so expensive. Oh, you know, it's gonna come down." So I thought what I'd do is write a short book, not 600, 700 pages-

Lewis Howes 4:21 Yes

Tony Robbins 4:22 ... make it so they can read it in a weekend or, you know, long day or evening. And then I wanted to write a book that also was really a playbook, showed you exactly what to do. So if you're a, you know, a baby boomer and you never got started, you can still make it. Or if you're, you know, somebody who's let's say a, um, a, a millennial and you feel like you've been through college and you got so much debt and you never get out of it-

Lewis Howes 4:43 Yes

Tony Robbins 4:43 ... this is the plan how to get out of it. But I really wanted to get rid of the fear. I wanted to show people that there's nothing to fear, and do it not with enthusiasm, but with facts. And in this book, when you read this, it'll blow your mind. And I'm also giving 100% of the profits, not, not a penny comes to me, again, to feed people. 'Cause we fed 100 million people two years ago.

Lewis Howes 5:01 Yes.

Tony Robbins 5:01 100 million last year. This book will help feed 50 million, so every book feeds 50 people. And then I'm putting matching funds up to feed another 100 million people. We're gonna feed a billion people in the next seven years. Pretty awesome.

Lewis Howes 5:11 You're, you're the man. Uh, the thing I love about this is I am a very slow reader.

Tony Robbins 5:16 Yes.

Lewis Howes 5:16 It takes me forever.

Tony Robbins 5:17 Really?

Lewis Howes 5:17 And it's hard for me to comprehend. After, like, five pages-

Tony Robbins 5:20 Yeah

Lewis Howes 5:21 ... I, I feel like I forgot everything.

Tony Robbins 5:22 Yeah.

Lewis Howes 5:22 I read this in four hours.

Tony Robbins 5:24 Wow.

Lewis Howes 5:24 And for me, you know, I've had my own level of financial success.

Tony Robbins 5:28 Yeah.

Lewis Howes 5:28 And I feel like I understand certain, certain parts of it, but there's always more for me to learn.

Tony Robbins 5:33 Yeah.

Lewis Howes 5:33 And I learned so much because you make it so simple. You break the most complicated, confusing, and scary things down into simple ideas and analogies that anyone can understand.

Tony Robbins 5:43 Yeah.

Lewis Howes 5:44 So make sure you guys get this. Again, 100% go to Feeding America, is that the, the foundation, right?

Tony Robbins 5:48 Yeah. Yeah.

Lewis Howes 5:48 Yeah.

Tony Robbins 5:48 They'll feed them.

Lewis Howes 5:49 It's a game changer. I highly recommend it. And I've got some questions for you.

Tony Robbins 5:52 Great.

Lewis Howes 5:52 We had some, some of our listeners ask questions. I'm gonna ask some of those.

Tony Robbins 5:57 Cool.

Lewis Howes 5:57 But I wanted to ask first what the difference is between someone who is financially rich and who's, someone who's financially poor. What's the difference?

Tony Robbins 6:05 Well, there's lots of differences, but I'd say the first one is someone who is financially rich is an owner. They're not a consumer. They're a consumer also. But when somebody's poor, they're a consumer. They- all they do is they take the... You know, I always tell people we're all financial traders. A lot of people say, "I'm not a financial trader." Yes, you are. You're trading time for money.

Lewis Howes 6:23 Yeah.

Tony Robbins 6:23 And that's the worst trade you can ever make in your life. Um, somebody who's wealthy has made money their slave. They're no longer the slave to money, and the way they do that is they figured out how to become an owner. And the way you do that in the most simplistic way, I, I even taught it in my first book, was you have to decide there's a percentage of money that you're gonna keep forever. You're not gonna give it to Kate Spade or Ferrari or anybody [laughs] else. You can do that too, but there's a percentage of that income that never will be touched that you will grow and compound, and will provide income for the rest of your life so you don't have to work. Now, when I was growing up, everybody's goal was get rich enough so you never have to work. Now, like all my friends are 15, 18 years my senior. People like, uh, Steve Wynn in, who built most of Las Vegas. He's like 74. Uh, Warren Buffett's 85. Uh, Peter Guber, one of my dearest friends in the world, owns the Golden State Warriors, the LA Dodgers. We're partners in the LAFC football team in LA. Um, brilliant guy, 74 years old. And they're all working harder now than they ever were, and they don't have to work. So the goal is make enough money so you don't have to work, and then you'll do what you love-

Lewis Howes 7:24 Right

Tony Robbins 7:24 ... and you'll pour your time and energy into it. But you have to make that decision. It's the first, most important decision is I'm gonna become an owner of American business. You don't wanna have an Apple phone and not own Apple, and you don't wanna just own Apple, because any company can go up and down.

Lewis Howes 7:37 Right.

Tony Robbins 7:37 Right? You wanna own the index. You wanna own, you know, a variety with enough diversification. But if you can just shift, and I've taught people who've told me they couldn't. They have no money, they can't save.

Lewis Howes 7:48 Mm.

Tony Robbins 7:48 It's really easy once you get momentum.

Lewis Howes 7:50 Yeah.

Tony Robbins 7:50 There's a research project I did with, um, a gentleman, uh, who was nominated for the Nobel Prize on behavioral finance. And what he did was he said, "If you can even, you know... You need to save 15% ideally. But if you could even save 3%," because anybody can do that.

Lewis Howes 8:04 Right.

Tony Robbins 8:04 They took a group of blue-collar workers in the Midwest and said, "We're gonna force you to save 3%." I think it was three and a quarter or three and a half. But then we're... Everybody can di- go on a diet tomorrow.

Lewis Howes 8:14 Mm.

Tony Robbins 8:14 Everybody can save money tomorrow, right?

Lewis Howes 8:16 Yeah, yeah.

Tony Robbins 8:16 So his tool was, all right, you're not gonna save today. You're gonna save tomorrow. We'll do the three and a half percent, but then you go to your employer and say, "The next time I get a raise, the first 5% goes to my savings account, to my investing account." And then every time you get a raise, you do that. Well, in 14 years, the average person was saving 15% and the top 40% were saving 20.

Lewis Howes 8:39 Mm.

Tony Robbins 8:39 Now let me explain what that means. Uh, you and I were together before. I, I... When I'm trying to explain compounding to people, everybody understands it intellectually. But when I ask some of the richest people in the world what are most investors failing to do, and they all say they're not tapping the power of compounding. So if you're in a situation where a- as an example, let's take, um, your... You've got $100,000-

Lewis Howes 9:00 Mm

Tony Robbins 9:00 ... that you've saved. You're 35 years old, and you put it in the market and just leave it there and never add anything to it. If you leave it in the market and you're only being charged 1% in fees, at retirement 35 years later, you got $762,000 from that hundred. Never added a dime. It grew that much.

Lewis Howes 9:15 Wow.

Tony Robbins 9:16 But if you pay 3% in fees, which is the average most people are paying. When you ask people what are they paying, they don't know-

Lewis Howes 9:21 Mm

Tony Robbins 9:21 ... or they say 1%. Because when you hear about fees, let's say a mutual fund fee-

Lewis Howes 9:25 Yeah

Tony Robbins 9:25 ... you'll always hear 1%. That's the expense ratio.

Lewis Howes 9:28 Mm-hmm.

Tony Robbins 9:28 There are 17 other fees.

Lewis Howes 9:30 Yeah. [laughs]

Tony Robbins 9:30 So every 1% you overpay, you know, 1% is the average.

Lewis Howes 9:35 Uh-huh.

Tony Robbins 9:35 But if you pay two or three, and the average mutual fund is 3.12, sounds like nothing, 1 or 2%. But every 1% you overpay because of compounding-

Lewis Howes 9:43 Right

Tony Robbins 9:43 ... means you lose a decade of income.

Lewis Howes 9:46 Wow.

Tony Robbins 9:46 So the person paying 1% has $762,000. The person who paid 3% has $452,000, and they own the same stocks. It's just fees. So while we compound our interest, we also compound fees. So if you could save 3% and build it to five, 10, 15, or you start with 10 or 15 and eventually-

Lewis Howes 10:03 Mm

Tony Robbins 10:03 ... get to 20. The best example I can give your viewers is that, uh, there's a gentleman who worked for UPS who literally-

Lewis Howes 10:11 Yeah

Tony Robbins 10:11 ... never made more than $14,000 a year. You heard about him in the book.

Lewis Howes 10:14 Yep.

Tony Robbins 10:15 And when he retired, he had $70 million.

Lewis Howes 10:17 Crazy.

Tony Robbins 10:18 And he gave away $35 million while he was alive, and the reason was a friend of his set him aside and said, "Look, I'm gonna make you rich."

Lewis Howes 10:24 Mm.

Tony Robbins 10:24 He goes, "I'm never gonna be rich. I make $14,000 a year."

Lewis Howes 10:26 [laughs]

Tony Robbins 10:26 He goes, "I'm gonna make you rich. I'm gonna make you rich later in life-

Lewis Howes 10:29 Mm-hmm

Tony Robbins 10:30 ... and I'm gonna do it by a 20% tax to your business." And he goes, "I make $14,000 a year. I can't live on 20% less."

Lewis Howes 10:36 Mm.

Tony Robbins 10:36 His friend said to him, "If the IRS came and said a 20% more tax, you'd scream, you'd yell, and you'd pay it."

Lewis Howes 10:42 Yeah. [laughs]

Tony Robbins 10:42 And he said, "But we're gonna pay it for you." And that 20% compounded generated $70 million. So-

Lewis Howes 10:48 Wow

Tony Robbins 10:48 ... for the people that are at home, the sooner you start, the better off you are, because compounding does it. I've got an example in the book of a guy that starts at 19. He puts aside $300 a month. He stops at 27.

Lewis Howes 11:01 Mm-hmm.

Tony Robbins 11:01 So he does it for eight years. He only puts in, I think it was, uh, $35,000.

Lewis Howes 11:06 Yep.

Tony Robbins 11:07 But it's a... And he- it's a million dollars by leaving it in the market when he turns 65, and he stopped at 28. He has a best friend that starts at 28, invests his entire life, puts in $180,000, and he has less money at the end.

Lewis Howes 11:19 Mm.

Tony Robbins 11:19 The sooner you start, the better you are.

Lewis Howes 11:21 Yeah. So many questions I wanna ask in there. [laughs]

Tony Robbins 11:24 I don't dominate your podcast. [laughs]

Lewis Howes 11:25 So many I wanna ask. So what I'm... Uh, is there a way to be financially free just by saying, "I'm gonna earn more every year," as opposed to investing every year?

Tony Robbins 11:34 That's-

Lewis Howes 11:34 Can you do without-

Tony Robbins 11:34 ... that's investing

Lewis Howes 11:35 ... investing at all? Or do you have to invest? And when you say put it in the market, you mean put it in index funds, is what I'm hear-

Tony Robbins 11:40 Well, in the book I explain you've gotta have diversification.

Lewis Howes 11:43 Right.

Tony Robbins 11:43 And-

Lewis Howes 11:43 Don't just throw it in a stock and just-

Tony Robbins 11:45 No

Lewis Howes 11:45 ... leave it there. Yeah

Tony Robbins 11:45 And what most people do is they go to a mutual fund-

Lewis Howes 11:47 Yeah

Tony Robbins 11:47 ... and they think it, it sounds logical. "I'm, I'm no good at this. This is not my skill," a person says. You go to a professional who runs a mutual fund. What do they do? They figure out a series of investments to make.

Lewis Howes 11:58 Mm.

Tony Robbins 11:58 They put it in the fund, and they do it for you. And you think, "Well, gosh, you know, they're smarter than I am, they'll do well." You assume that, but the truth is they charge so much- That even if they did have an advantage, they lose it. I interviewed David Swensen, who's the head of... chief investment officer at Yale. It took Yale 200 years to get a billion dollars that they saved. He turned it into $25 billion in two decades.

Lewis Howes 12:21 Wow.

Tony Robbins 12:21 It's unheard of. He's the greatest institutional investor of all time. And one of the things that he told me, he said, "Tony, you just got to understand something." He said, "You're never gonna earn your way to wealth."

Lewis Howes 12:30 Mm.

Tony Robbins 12:30 He said, "How many people have you seen, movie stars, actors, athletes?" You know, the other day, 50 Cent just went broke, right?

Lewis Howes 12:37 Yeah.

Tony Robbins 12:37 He made, he made $100 million on Vitamin Water alone.

Lewis Howes 12:39 Right. [laughs]

Tony Robbins 12:39 Somebody gave him a tip, him and a... and he's, he was- had a half a, half a billion dollars, and he's broke. Completely broke.

Lewis Howes 12:44 Crazy.

Tony Robbins 12:45 Mike Tyson made a half a billion dollars and went broke.

Lewis Howes 12:48 Yeah.

Tony Robbins 12:48 You can understand that a little bit. [laughs] But-

Lewis Howes 12:50 Yeah. I think it's 78% of NFL players go bankrupt two years after they retire.

Tony Robbins 12:54 That's correct.

Lewis Howes 12:54 Yeah.

Tony Robbins 12:54 And the average lifespan of an NFL player is three and a half years.

Lewis Howes 12:57 I know.

Tony Robbins 12:57 So these guys work their whole life, they go through these rough injuries, and they don't how to invest. So-

Lewis Howes 13:01 Yeah

Tony Robbins 13:02 ... the answer is, you can make a fortune. Elton John g- didn't go bankrupt, 'cause it's different rules in, in England.

Lewis Howes 13:09 Mm. Yeah.

Tony Robbins 13:09 But he got in trouble. Who I just saw the other day is, um, what's his name? The Pirates of Caribbean, what's his name, um-

Lewis Howes 13:14 Johnny Depp?

Tony Robbins 13:15 Johnny Depp. Johnny Depp's going bankrupt right now.

Lewis Howes 13:17 Really?

Tony Robbins 13:17 Johnny Depp spends-

Lewis Howes 13:18 He's making, like, 20, 30 million a year, uh, a movie.

Tony Robbins 13:20 Yeah. Johnny Depp was worth $700 million.

Lewis Howes 13:22 What?

Tony Robbins 13:22 Three quarters of a billion.

Lewis Howes 13:23 [laughs]

Tony Robbins 13:24 He's on the verge of bankruptcy right now, can't pay his bills. He was spending $30,000 a month on wine alone.

Lewis Howes 13:30 [laughs] Oh my gosh.

Tony Robbins 13:31 Right? He spent $3 million to take Hunter Thompson's body-

Lewis Howes 13:36 Right

Tony Robbins 13:36 ... burn it, put the dust into this giant cannon and shoot his dust into [laughs] space, three million bucks. It doesn't matter how much money you earn, you can always get rid of it and lose it.

Lewis Howes 13:46 [laughs] Of course, yeah.

Tony Robbins 13:47 Buy an island, and watch how quickly-

Lewis Howes 13:48 Right

Tony Robbins 13:48 ... it disappears, right?

Lewis Howes 13:49 Yeah, exactly. [laughs]

Tony Robbins 13:49 So what I show people is what you really wanna do is create an income for life without working.

Lewis Howes 13:54 Mm. Mm-hmm.

Tony Robbins 13:55 The goal, if you own a business, and I would assume a lot of your viewers are business owners-

Lewis Howes 13:59 Yeah, sure

Tony Robbins 13:59 ... or are getting started in business, no matter how good you are in business, think about this. The one universal rule that idiots in finance know is diversification.

Lewis Howes 14:07 Mm.

Tony Robbins 14:08 It's the only free lunch. You've got to diversify. Because if you put all your eggs in one basket, no matter how good the basket is, one day that real estate market, that stock market, that bond market, that collectibles market, whatever you invest in, Ray Dalio showed me statistically it'll drop 50 to 70% on a day. Now, if you're later in life when that happens, it's over for you.

Lewis Howes 14:28 Right.

Tony Robbins 14:29 So you have to diversify, and yet most people, they know real estate, so they do it, or they know stocks, they do it, or they grew up with their ha- their parents flipping things, and it's the wrong thing to do.

Lewis Howes 14:37 Mm-hmm.

Tony Robbins 14:37 So you've got to diversify in order for you to be able to truly succeed, and that's why when you own a business-

Lewis Howes 14:44 Yeah

Tony Robbins 14:44 ... if you put all your money in your business, which is what most of us do naturally-

Lewis Howes 14:48 It's a lot of risk. [laughs] Yeah

Tony Robbins 14:49 ... you put all your eggs in one basket-

Lewis Howes 14:51 A lot of risk

Tony Robbins 14:51 ... and there's things that can happen. I mean, you know, you're... let's say you spend 20 years and you figured out how to put together the ultimate map, you know, and you remember Garmin came out with this thing called a TomTom. I don't know if you remember.

Lewis Howes 15:03 Mm. Yeah.

Tony Robbins 15:03 You used to put on your...

Lewis Howes 15:04 Of course

Tony Robbins 15:04 ... are you old enough to remember that?

Lewis Howes 15:05 Of course. Yeah, yeah, yeah.

Tony Robbins 15:05 You used to put on your phone? Or you used to put on your, on the dash.

Lewis Howes 15:07 Dash. Yeah, yeah.

Tony Robbins 15:08 Cost 100 bucks.

Lewis Howes 15:09 Yeah.

Tony Robbins 15:09 It was a breakthrough. Six-

Lewis Howes 15:11 They were making, like, 100 million or something or... yeah.

Tony Robbins 15:12 They were.

Lewis Howes 15:13 Yeah, yeah.

Tony Robbins 15:13 Six months later, what happened?

Lewis Howes 15:16 The iPhone came out-

Tony Robbins 15:17 That's right

Lewis Howes 15:17 ... with Google Maps. [laughs]

Tony Robbins 15:17 These little bastards, excuse my French-

Lewis Howes 15:19 [laughs]

Tony Robbins 15:20 ... came out with it, put Google Maps-

Lewis Howes 15:21 Yeah

Tony Robbins 15:21 ... put their own map on here-

Lewis Howes 15:23 And here

Tony Robbins 15:23 ... and it cost how much? Zero. What's that gonna do to your business when someone takes your product or service and gives it away for free? So I always tell people, competition happens.

Lewis Howes 15:31 Mm. Mm-hmm.

Tony Robbins 15:32 Technology happens. What you must do is have a second business-

Lewis Howes 15:35 Yeah

Tony Robbins 15:35 ... with no, with no moving parts. No people, no time. Maybe it takes you two, two, three days a year for two or three hours after you've read the book.

Lewis Howes 15:43 Mm-hmm.

Tony Robbins 15:43 You put it in place and you measure it two, three times a year.

Lewis Howes 15:45 Yeah.

Tony Robbins 15:45 That's it.

Lewis Howes 15:46 Yeah.

Tony Robbins 15:46 Go on with your life. Now if there's ever trouble in your business, you're financially set. I, in my life, have 31 companies now. We have-

Lewis Howes 15:53 Wow

Tony Robbins 15:53 ... you know, what do we have? 1,200 employees, seven different industries. We do five billion in sales.

Lewis Howes 15:59 Yep.

Tony Robbins 15:59 I mean, I- that used to be, you know, me and my seminar business. It's grown geometrically.

Lewis Howes 16:04 Wow.

Tony Robbins 16:04 But with all those moving parts, the only way I've been able to succeed is because I've taken every one of those businesses and I've diversified my assets so that when things were in trouble, I still had enough economics to take care of myself and keep the business going. So everybody needs to create a money machine that works while you sleep-

Lewis Howes 16:21 Mm-hmm

Tony Robbins 16:21 ... that doesn't have moving parts, and that's what this is really about.

Lewis Howes 16:23 You have a great cartoon in the book, um, where there's a kid asking his father, you know, something about, like, how do you invest your money or h- how does the stock market work? And he says, "You put your money in at the peak."

Tony Robbins 16:35 Yeah. [laughs]

Lewis Howes 16:36 "It starts to go down and lose money, and so you get scared and you take it out, and then someone smarter than you makes all the money."

Tony Robbins 16:42 That's right.

Lewis Howes 16:42 Something like that.

Tony Robbins 16:43 Yeah, so-

Lewis Howes 16:43 So how do we, how do... and I've done that in the past, where I put my money in somewhere high, it went down, and I was like, "Oh, I just lost a bunch of money. Let me take it out."

Tony Robbins 16:52 Yeah, yeah.

Lewis Howes 16:53 And then I put it back in another time, and I'm like, "What am I doing?"

Lewis Howes 16:56 So how do we, um, invest without fear of-

Tony Robbins 17:00 Yeah

Lewis Howes 17:01 ... "Oh, it's going down. I need to take it out," or, like, trying to time it. How do we do that?

Tony Robbins 17:04 Great question. It's one of the main reasons I wrote the book.

Lewis Howes 17:07 Mm.

Tony Robbins 17:07 Uh, this, I always tell people, if you just read the second chapter of the book and nothing else-

Lewis Howes 17:10 Yeah

Tony Robbins 17:10 ... it'll change your life. Uh, you can do that with multiple chapters, but that chapter is really about teaching people that winter is coming.

Lewis Howes 17:18 Yes.

Tony Robbins 17:18 We all know winter's coming, right? To coin a phrase. But that winter is the best time on Earth, and I know that's counterintuitive, and I don't mean, like, being a positive thinker.

Lewis Howes 17:26 Yeah.

Tony Robbins 17:26 I mean pure facts. So in the book, I take you through 10 facts. I'll give you a couple of them right now.

Lewis Howes 17:31 Yeah.

Tony Robbins 17:32 The first fact I give people is, why do people not invest? They're afraid of failing. They, if you're a millennial, right?

Lewis Howes 17:38 Mm-hmm.

Tony Robbins 17:38 So you grew up witnessing 2008-

Lewis Howes 17:40 Yeah, of course. Yeah

Tony Robbins 17:41 ... when you were still relatively young. How old are you now?

Lewis Howes 17:43 33.

Tony Robbins 17:43 Okay. So you were what, 27?

Lewis Howes 17:45 Snap.

Tony Robbins 17:45 What, wh- wh- wh- what?

Lewis Howes 17:46 2008, uh-

Tony Robbins 17:48 Yeah

Lewis Howes 17:48 ... yeah, 27, I guess. Yeah.

Tony Robbins 17:49 Yeah, 27, 28 years old. So you're a young man-

Lewis Howes 17:52 Yeah

Tony Robbins 17:52 ... and you're watching the world melting down in front of you.

Lewis Howes 17:55 Yeah.

Tony Robbins 17:55 For most millennials, they are the first generation since the generation that went through the Depression that is not investing at the ratio they need to, even close. The boomer's generation-

Lewis Howes 18:03 And they have more debt than everyone probably, right? With all the-

Tony Robbins 18:06 Th- they have more-

Lewis Howes 18:06 ... loans

Tony Robbins 18:06 ... college debt than everyone.

Lewis Howes 18:07 Yeah.

Tony Robbins 18:08 Absolutely true.

Lewis Howes 18:08 I have a friend that has $400,000 in debt.

Tony Robbins 18:11 Well-

Lewis Howes 18:11 Dental school

Tony Robbins 18:11 ... President Obama just paid off his debt five years ago while he was still president.

Lewis Howes 18:15 What? No.

Tony Robbins 18:16 I swear to God.

Lewis Howes 18:17 Oh my gosh. [laughs]

Tony Robbins 18:17 It's like, it's mind-boggling.

Lewis Howes 18:19 Wow.

Tony Robbins 18:19 And he had a bunch of, uh, scholarships-

Lewis Howes 18:20 Wow

Tony Robbins 18:20 ... but the last bit, it took him that long. So what I tell them is-

Lewis Howes 18:23 Wow

Tony Robbins 18:23 ... listen. Debt, paying off your debt's not enough. You've got to become an owner or you're always- Mm ... gonna be in that place. So yes, pay off your debt, but here's what you need to know. You gotta become an owner, you gotta get in the game, but you gotta understand the rules of the game. Mm-hmm. If you don't know the rules of the game, the old phrase is, you get ... You know, when a person with experience meets a person with money, we know the phrase. The person with the money ends up with the ex- [laughs] Right. [laughs] Exactly ... the experience, and the person with experience ends up with your money, right? Yeah, yeah. So I teach people the rules of the game so they don't get screwed. Mm. But the, the most important thing is this. Winter's coming, but people react. So let's take last year. Last January, 2016, we had the worst stock market opening in the history of the stock market. Mm. Worst first, I think it was 10 days. Yeah. There was a drop of $2.3 trillion with a T. Crazy. Everybody's freaking thinking the, the bear market's here, the market's over, the crash is here. I think the market dropped 800 points one day, and on that day, all the richest people in the world were in Davos, Switzerland, you know, for the big- Yeah ... conference that they do every year. And they went there, MSNBC went there, and, and everybody's freaking. What's hap- What are we gonna do? And they said, "Let's go ask Ray Dalio." Now, your listeners may or may not know who Ray Dalio is. I- if, if you're not in the financial business, you probably never heard of him. You probably heard of Warren Buffett, but Ray Dalio's [laughs] done more. You gotta have a $5 billion net worth and $100 million to give him, or he wouldn't talk to you 10 years ago. Now, he doesn't give a shit how much money you have- [laughs] ... he won't talk to you, 'cause he's got a closed fund. But they go and they put Dalio on television. Mm. CNBC, he's the king. What do we do? And he says, "Well, you don't need to panic. Corrections happen all the time." Yeah. "But you need a strategy that when markets go up and down, you don't go up and down." And he said, "I spent 15 years of my life to perfect such a strategy. All of my money's in that plan." And he said, "It's called All Seasons, and I've never revealed it before, but I gave it to Tony Robbins. He extracted it from me, and it's his book, so you ought to go read his book." This is what he says on national television [laughs] the day the markets are crashing. And that day, to give you an idea, which is the beginning of February, I th- I think it was nine days into February. The market was down 9%- Mm ... in the first five weeks of the year. Mm. His strategy, which he gave me, which has made money 85% of the time for the last 75 years. Wow. It's averaged a 10% return, just under, and the average loss out of the, when it, 15% loss was 1.6. Right. So if you go to Vegas and you could spend 85% of the time make money, and when you made money it was 10% and your loss is 1.6, you- [laughs] ... could go forever. His plan made 2% while the market was down 9, so it was up 11% difference. Now, I'm not suggesting that's the only strategy to do. There's many. His is the smoothest ride- Right ... with the least risk. But what it did was, combination of that, and then right after that I interviewed, uh, Fed Chair Alan Greenspan. He was the head of our economy, the s- the most powerful man in finance for 19 years. Four presidents he was there running. I was just with President Clinton this last week. He was, he was the Fed chair for him. And I interviewed him for like two hours, you know, or three hours off stage, two hours in front, and I asked him, in the very beginning of this thing, I said to him, I said, "Look, if you could be, put at the Fed today, what would you do?" And he looks at me, and as I said, he leans forward and he says, "Resign." [laughs] So I look at that and go, "Oh my God, I need to write a book that'll free people." Mm. So here's what will free you. Everybody's afraid of the crash, so here's what you need to know. Two terms you should understand: correction versus crash. Anytime the market drops from its high by 10% or more, up to 20, it's called a correction. Right. If it drops 20% or more, up to 80%, like in, you know, the, The Great Depression, then it's called a crash or called a bear market. Okay. So how often does a correction happen? And how sh- how, how often do we have to be prepared for it? Since 1900, we've had a correction on average every year. Wow. For 116 years. So when is winter coming? This year on average. Every year. [laughs] It's like how often does winter come? You wouldn't be surprised if it stormed and rained. Now, some winters are long, some are short, some are harsh, some are light, but winter always comes. So I wasn't panicked when this happened- Mm ... last year. I'm not panicked whenever it happens, 'cause I know it's supposed to be. Yeah. How long does it last? Average, 56 days. Right. Okay? So just under two months. What's the average drop during that time? 14% over the last 30 years, 13.5 over the last- Mm ... 100 years, so I use the more recent one. 14% gets your attention, right? 14% y- you get a little gut check. Yeah. [laughs] But here's what you need to know. 80% of all corrections never become a bear market. 80%. Mm. So all this fear, and what people do is what you said you did, is they see it, it's freaking out, I'm losing money, I'm the hell out of here, and they get out. The stock market never took a dime from anybody. Only you can take it from you. You sold. That's why you lost. Right. Right? So if you look back and say, what was it like in 2008? I can remember vividly being with my platinum partners and saying, "You see these $80 stocks?" This is six months before the crash. I told them in April. I brought them to, to Dubai and I said, "These stocks are gonna go to eight, and some are gonna go to a buck." Wow. And by Octob- And I told them what to do, so they were able to get out. October, I go on the Today Show in October of 2008, and they go, "Tony, there's been $3 trillion meltdown. Pump the country up. You got four minutes." [laughs] Like- Ready, go. [laughs] That's not what I do, first of all. And I said, "That'd be a lie. I'm not gonna put one." Yeah. At that point the $80 stocks were eight. I said, "Some of those," I said, "I'm not a market forecaster, but I work with Paul Tudor Jones, one of the greatest investors- Mm ... in the history of the world. In the biggest market crash in history, you know, 1987, he made 200%- Wow ... when everybody else was losing their entire life. And I've been coaching him continuously now for 24 years, every single day. Wow. So I said, "I work with the best in the world, and they're telling me based on history in the '30s and history in the '70s, those $8 stocks, some are gonna be a buck." And I remember the day in March of 2009- Mm ... Citibank, which had been I think $70, sold for 97 cents. Oh my. [laughs] You could go and take your money out of the ATM. Yeah. It cost you more to take your money out than to own the bank. [laughs] Right? And then I told people it'll jump from 99 cents to six, 10, $12 in a month or two, and that's exactly- Right ... what it did, right? So what you gotta know is corrections happen every year. You got another couple months, gotta know it's 14%- Yeah ... and you won't lose, 'cause 80% of the time it go, it doesn't go to a bear. Now, what about the bear? The bear market, it happens, to give you an idea, in the last 100 years, every three to five years. We've gone eight without one. Mm. We're way overdue. Yeah. [laughs] The, i- in modern years, last 30 years, it's about every five years. Uh-huh. The average length of a bear is one year. The average drop is 33%. Wow. A third of those drops go 40% or above. That, I don't care how well prepared you are, that's a scary thing. Yeah. But it is the greatest opportunity in your lifetime to go from wherever you are financially to where you wanna be. I hope your audience is listening right now. Hear me. Mm. If you wanna leapfrog, and you're a Millennial and you think there's no future, or you're, you know, a, a Baby Boomer and you s- think you're too old and it's too late, the greatest gift you have is coming. I know it [laughs] doesn't sound like it. This is not positive thinking bullshit. This is the truth. Mm. Wall Street, the stock market, is the only place that when things go on sale, people freak out. If I said, you like Ferraris? Sure. If I said to you, "Ferraris are go on sale for 50% off." Awesome. [laughs] But when I tell you- Plus- ... Apple's on sale for 50% off, you go, "Oh." Right. "What am I gonna do here? What's wrong? The mo- world's coming to an end." If you think about it, how old are you? 33. 33. So let's assume if you were 35 and you lived to 85- Mm ... you got 50, 52 years ahead of you. That means you have 52 more corrections to live through. Right. [laughs] That means you're probably, in those 50 years, gonna have 10 more bear markets to live through. Mm. If you're gonna have gut checks every time or you're gonna leave out of it- Right ... if you didn't participate 'cause you thought, "Oh, the market's too volatile, I can't trust it," all that stuff, you missed 250% return in the last eight years. Mm. I mean, you, you've missed out on everything while you're waiting for things to be better, and if you won't do it when it's like this, when it crashes, you're not gonna get in. Sure. So here's the good news about the bear. The good news about the bear, average one's a year. Could be longer, but that's the average. Mm. Could be shorter. But here's what's cool. Every single bear market in the history of the United States has led to a bull market. Meaning, right afterwards, so 2008, this plummeting- Mm ... what happened in 2009? Up 67%- Wow ... in a year. I can show you every single bear market, and the next year, when it comes out, it's this explosion. Now, that's not true in every market in the world. It's true for two centuries in the United States. Wow. So that's why Warren Buffett says, "I wanna be greedy when people are afraid." Mm. "And I wanna be afraid when people are greedy." If you remember 2008, he was telling everybody, "Buy." He was having the time of his life. [laughs] Buy, buy, buy, everything's on sale. So- Mm-hmm ... what you have to do to become unshakable- Mm ... is turn, what I al- the metaphor I use is the turn the snake into the rope. Meaning, we all know the story. It's the middle of the night, you're walking through the, the yard or someplace and you see a snake, and you're freaked out. You pull back. You come in the morning and it's a rope. Once you know it's a rope, you're never afraid again. Yeah. I wanna take for people investing and show them how to turn that snake into the rope it really is, and I'll tell you one final stat on all this. People always say, and you started to bring it up, timing. Mm. "How do I time it? Like right now things are too expensive. I'm gonna wait." People have been saying that for eight years. Mm. Is there gonna be a correction? Yes. Yeah. But when it corrects, you just, you wanna invest again. You'll get dollar cost averaging. If you paid a little too much here, you'll pay, paying less here. It'll bring the average price to a reasonable place. It's gonna allow you to succeed. But here's what people need to know about timing. If

Tony Robbins 27:59 you are not in the market, it's the most dangerous thing. Mm. This is so counterintuitive, so I hope your audience is listening. Let me show you. Research, there's two different research projects. One was done by JP Morgan. I just spoke to them the other day at their alternative investments conference. And to be in the room, there were 400 people, you have to have a billion dollar net worth to get in the room. Crazy. It was mind-boggling, right? So JP Morgan did a study and also Schwab did a separate study. Mm. 20-year studies. In the last 20 years, to give you an idea, the average S&P 500, that index, has produced 8.2%. Over 30 years it was 10 point, uh, 28. But in the last 20 years, a little bit less. Still great. You double your money, you know, roughly you're, you're in a position where you double your money a little more than every, uh, you know, you know, what is it now? 7.2, so it'd be like a little more than 10 years. Mm. But here's what they found out. If you miss the 10 best trading days in 20 years, 'cause you're trying to time the market- Yeah ... and you're not in it during one of those days, you went from 8.2% return over that period per annum, per year, it dropped down to almost half, 4.5. Mm. What are the chances of you knowing the best 10 days to trade in 20 years? [laughs] None. Yeah. Right? Warren Buffett said, "Market timers and market forecasters are only there to make fortune tellers look good." [laughs] Because- [laughs] ... no one can do it successfully. Even if they do it for a while, it doesn't last. Mm. It's luck. You know, uh, Jack Bogle told me, who started Vanguard, you know, $3 trillion company. Wow. He said, "We took gorillas, a thousand in a room, and had them flip coins, and we did..." He said, "How many times it got heads, how many got tails?" Just gorillas flipping them randomly. And he said one gorilla in that set of, of those turns flipped heads 21 times in a row. Now, when you look at that and see all these gorillas doing it, you look at it and say, "What a lucky gorilla." Mm. He said, "But in the hedge fund industry and the mutual fund industry, when somebody does 10 in a row you go, 'What a brilliant investor.'" Right. [laughs] What a genius. And it's just, it's just averages and luck at that time. That's it. Yeah. In fact, he showed me that 96% of all mutual funds fail to match the market over a 10-year period of time. Mm. Only 4% make it, and they're constantly changing. Crazy. So the statistic I want people to know is if you miss the 20 best trading days in the last 20 years, just 20 days in 20 years, one day a year in 20 years and you're wrong, you're wrong on timing- Mm-hmm ... your 8.2 doesn't drop to 4.5, it drops to 2%. You might as well have been o- owning a bond. Wow. You have no fluctuation. Sure. Sure. And no risk. Right. If you miss the top 40 trading days, to give you an idea- Mm ... you are minus 2%. Yeah. So you've gotta get in the market, and if you're saying, "What about my timing, though?" Study was done by Schwab. If you got the perfect timing for the year, the right day, the best possible day to buy, some people the worst day- Mm-hmm ... someone else, dollar cost averages, just keep spending the same amount every month regardless of prices, and somebody stays in cash. Who has the worst return?

Lewis Howes 30:45 The guy trying to time or no?

Tony Robbins 30:47 Cash.

Lewis Howes 30:47 The cash.

Tony Robbins 30:48 He, you, you get nothing for cash.

Lewis Howes 30:49 Gotcha.

Tony Robbins 30:50 The guy who was the best had the best timing.

Lewis Howes 30:53 Got it.

Tony Robbins 30:53 The guy that was the worst, the guy with the dollar cost average, and the one that was on the worst day were almost identical, but after seven years there was only a $20,000 difference in accumulated assets between the worst day-

Lewis Howes 31:06 Mm

Tony Robbins 31:06 ... and the best day. The worst was not being in the market.

Lewis Howes 31:10 Right.

Tony Robbins 31:10 See, you gotta be there. Now, I'm not saying put everything in stocks. We teach in the book all these-

Lewis Howes 31:14 Sure

Tony Robbins 31:14 ... different assets-

Lewis Howes 31:14 Different situations

Tony Robbins 31:15 ... for different things.

Lewis Howes 31:15 Yeah, yeah.

Tony Robbins 31:15 But stocks in the last two centuries have provided the highest returns, so you have to have significant exposure to that if you wanna get the highest return.

Lewis Howes 31:21 Mm-hmm. Got it. And then what I love, uh, in the book you say that 80% of financial success is psychological, 20% is mechanical, right?

Tony Robbins 31:30 Yes.

Lewis Howes 31:30 So it's not about timing and trying to, like, figure all these things out and when's the best thing or the best fund or best whatever.

Tony Robbins 31:35 This is not about trading, it's about investing.

Lewis Howes 31:37 Exactly.

Tony Robbins 31:38 Trading is trying to do that-

Lewis Howes 31:39 Yeah

Tony Robbins 31:39 ... and most people lose money trading.

Lewis Howes 31:40 Got it.

Tony Robbins 31:40 Even the guys that tell you make money, see it all-

Lewis Howes 31:42 [laughs] Right, right, right

Tony Robbins 31:42 ... they're making money two or three years from now. They usually eat the dust, right?

Lewis Howes 31:45 Exactly.

Tony Robbins 31:45 So yes, you've gotta have the psychology, and my best way of psychology is not to pump you up. If you wanna be unshakable-

Lewis Howes 31:51 Mm-hmm

Tony Robbins 31:51 ... you wanna be educated and you want to know the facts. You wanna know, look, every five years I'm gonna get a bear, maybe three years. I'm gonna get-

Lewis Howes 31:57 Mm-hmm

Tony Robbins 31:57 ... a correction every year. But I'm gonna be in the market and make money. Do you know that s- six of the 10 best trading days in the 20 years happened within two weeks of the worst trading day?

Lewis Howes 32:08 Mm.

Tony Robbins 32:08 So when s- when Trump was elected, the market dropped, I think it was 800 points that night. Then he, at 3:00 or 4:00 in the morning he made a speech where he was somewhat, n- you know, human and normal.

Lewis Howes 32:19 [laughs]

Tony Robbins 32:19 And the market re- got all its money back-

Lewis Howes 32:22 Yeah

Tony Robbins 32:22 ... and since then we're up 14%-

Lewis Howes 32:24 Yeah

Tony Robbins 32:24 ... in November, December, January. In three months.

Lewis Howes 32:26 Mm-hmm.

Tony Robbins 32:26 February, you know, three and a half months. So people need to understand, you gotta be in the market because the worst days will bring you your best days.

Lewis Howes 32:32 Right. Exactly. Um,

Lewis Howes 32:34 now I went to India last year.

Tony Robbins 32:37 Yeah.

Lewis Howes 32:37 And I went to One World Academy.

Tony Robbins 32:38 That's great.

Lewis Howes 32:38 Connected with Christian G. and Peter G.-

Tony Robbins 32:40 Yeah, dear friend

Lewis Howes 32:40 ... the whole team. And I went for two and a half weeks.

Tony Robbins 32:44 That's awesome.

Lewis Howes 32:44 And it was a game changer.

Tony Robbins 32:45 That's great.

Lewis Howes 32:45 And I, and I'd heard that you'd went there.

Tony Robbins 32:47 Yes.

Lewis Howes 32:47 And-

Tony Robbins 32:48 Christian's a good friend of mine

Lewis Howes 32:48 ... when I read the end of the book, you talked about beautiful states, suffering state-

Tony Robbins 32:52 Yes

Lewis Howes 32:52 ... what I learned.

Tony Robbins 32:53 Yes.

Lewis Howes 32:54 And I love how you share that, you know, you used to talk about, you know, being in a peak state as often as you can, but now you really kind of transitioned into beautiful state, right?

Tony Robbins 33:03 Yeah.

Lewis Howes 33:03 And why-

Tony Robbins 33:03 Well, Christian G. and I were talking-

Lewis Howes 33:04 Yeah

Tony Robbins 33:04 ... and he, he sets it really beautiful to me. He's a dear friend, I've known him for I guess about 15 years. His father is one of the, uh, the most powerful spiritual teachers-

Lewis Howes 33:12 Oneness, right. Yeah

Tony Robbins 33:12 ... in India. Oneness. Yeah, and so, you know, to give you an idea, he's considered an avatar there. So I went there and they had an opening, Christian G. helped organize it, and they expected a quarter of a million people over five days, and a half a million people showed up the first morning.

Lewis Howes 33:22 Wow.

Tony Robbins 33:22 So it was like the ultimate, you know-

Lewis Howes 33:24 Crazy

Tony Robbins 33:25 ... craziness, if you imagine. So he's got some really beautiful grounding, and his father is, um, is not just a religious man, he's really a spiritual man. He, he believes whatever you believe is wonderful, but what you have to do is wire your brain so that you're connected to the aspect of your spirit or oneness, and he teaches various ways to do this. So anyway, Christian G. and I over the years have done a lot of f- fun things together, and this, about two years ago we were having a conversation and he said, "You know, you teach the secret to life is peak state versus lousy state, or being energy rich versus energy poor. That a relationship, you can love somebody, but if the energy's low it's not gonna show up. If the energy's high, it will." He said, "What if you swap those words and you swap peak state for beautiful state?" I said, "That works, you know? A high energy state is a beautiful state." Any state where you're high energy would be like love or joy or gratitude or drive or courage or faith or, you know, playfulness or fun. Any of those things are beautiful states. So he goes, "Yeah, yeah, I agree." And I said, "And then suffering states would be low energy states. So that would be frustration, sadness, anger, resentment, loneliness, boredom, whatever." He goes, "Yeah, that's exactly right." I said, "I can swap those." He goes, "If you swap 'em, there's something cool that you might see or do." I said, "What's that, Christian G.?" And he said, "Well," he said, "I've made a decision that I'm gonna live my life where I'm gonna live in a beautiful state every day, no matter what. Even if it doesn't, even if it rains on my parade, even if people do things that are unjust." And he said, "The reason is because in a beautiful state, just like you teach a peak state, everything flows." And I said, "Well, that's pretty much what I've been teaching." He goes, "Yes, but if you think of the lousy states as suffering states," he said, "then you can end suffering just by ending the state." And I said, "I don't really relate to the word suffering" and, and I think most achievers do. Most achievers don't even get fearful, we get stressed.

Lewis Howes 35:13 Right, right, right.

Tony Robbins 35:13 [laughs] I always tell people fear is the achiever word for stress-

Lewis Howes 35:16 [laughs]

Tony Robbins 35:16 ... 'cause if I follow your stress it'll take me to your fear. But I realized I didn't relate to suffering. Like, if you had told me two years ago, "Tony, do you suffer?" I'd say, "Are you kidding me? I got the greatest life. I have the most incredible wife and four kids and I got 31 companies and I'm financially free and I have a mission I love and I'm in good health." And that would all be honest, I wouldn't have been dishonest about it.

Lewis Howes 35:34 Yeah.

Tony Robbins 35:34 But what really helped me out of that conversation, I left there and I went, "Well, where do I suffer?" And I realized frustration is suffering, and I get frustrated.

Lewis Howes 35:44 Yeah.

Tony Robbins 35:44 You know? I get concerned, I get pissed off, I get-

Lewis Howes 35:47 [laughs]

Tony Robbins 35:48 ... you know, worried sometimes.

Lewis Howes 35:49 Yeah.

Tony Robbins 35:49 I get these feelings. And so what I decided to do is, you know, just really create a 90 second rule for myself where I would end suffering as it arises. 'Cause anybody tells you they can end suffering is full of crap. The reason is your brain is a two million year old brain and it's not designed to make you happy, it's designed to make you survive.

Lewis Howes 36:05 Mm.

Tony Robbins 36:05 But there's no saber-toothed tiger for you to react to anymore, so now we worry about what are people thinking of us, do I have enough money.

Lewis Howes 36:11 Right.

Tony Robbins 36:12 And in this country, in America, if you are in utter poverty, and I hate poverty, I feed 100 million people a year, so I'm not sitting on the sidelines. But if you make the worst and least amount of money in this country and you're in total poverty, you're in the 1% of earners on the Earth.

Lewis Howes 36:26 Mm.

Tony Robbins 36:26 'Cause 75% of the planet lives on $2.50 a day.

Lewis Howes 36:30 Right.

Tony Robbins 36:31 Right? So what I try to do is show people you can't dwell on failure, you can only dwell on success. So over the last two years what I've done is play this little 90 second rule, and if I feel tension in me, I go, "Okay, that's suffering. Where's it coming from? What am I stressed about? What am I concerned about?" And what I immediately do is I realize- S- the stressful thought. Since I've seen Christian G., I kind of traded one thing. What I really do now is I dig in and I notice that the only time you have stress or suffer is when you believe a stressful thought.

Lewis Howes 36:59 Yeah.

Tony Robbins 36:59 So what would be one or two of the most stressful thoughts that happen to you most often? 'Cause we all have them, right? And you can be an overachiever and you still do it.

Lewis Howes 37:07 Yeah. I mean-

Tony Robbins 37:07 So what would be two thoughts that show up a lot that make you stressed?

Lewis Howes 37:11 You know, something's not going well in my business, or it's not the way I want it to look or-

Tony Robbins 37:14 Yep

Lewis Howes 37:14 ... be, or, you know, one of, one of my team messed up and it makes me look a certain way, or my, you know, I don't know, my-

Tony Robbins 37:21 So there's a sense of loss.

Lewis Howes 37:22 Yes. My identity-

Tony Robbins 37:24 A sense of less

Lewis Howes 37:24 ... or, yes.

Tony Robbins 37:24 Yes, yes.

Lewis Howes 37:25 My ego gets like-

Tony Robbins 37:26 Yes. So when I told Christian G.-

Lewis Howes 37:28 Yeah

Tony Robbins 37:28 ... as I said, "Christian G." I said, "I think I've found the three triggers to suffering." He goes, "What's that?" I said, "It's loss, less, never." Whenever you believe-

Lewis Howes 37:36 Hmm

Tony Robbins 37:36 ... your mind believes a stressful thought like, "Oh, my God, I'm not ... My business is not going ... Or oh, this guy screwed this up and now I've lost something. I've lost this opportunity, or I've lost the time, or I've lost the money," or it can not be someone else. It could be you. You could say-

Lewis Howes 37:50 Yeah

Tony Robbins 37:51 ... "I failed to do this. I did something, or I failed to do something, and as a result I've lost something I value. Significance, trust, love, money-

Lewis Howes 37:58 Hmm

Tony Robbins 37:58 ... freedom, whatever." Or you said something, or did something, or failed to do something, or I failed to do something or say something, and I feel like I have less love, or less money, or less freedom. Less will make you suffer. The one that's the worst is never. If you start believing that because she said that or she did that, or because I failed to do this-

Lewis Howes 38:17 Hmm

Tony Robbins 38:17 ... or I said that, I'll never have love again. I'll never be wealthy. I'll never be free.

Lewis Howes 38:22 Yeah.

Tony Robbins 38:22 Once you believe that shit, it's true 'cause you won't initiate. You won't solve it. You won't create it.

Lewis Howes 38:27 Right.

Tony Robbins 38:27 So

Tony Robbins 38:28 I'm very sensitive to loss, less, never. Anything that triggers that, and the antidote to it is to realize it's not you. So your thought of, "God, you know, my business is stressful. Is this gonna ... You know, I, I'm sure it'll make it," but little more part of you like, "Is this gonna make it?"

Lewis Howes 38:41 Right.

Tony Robbins 38:42 Or, "This guy screwed up, and look, it screwed me out of all these things."

Lewis Howes 38:45 Hmm.

Tony Robbins 38:45 When those things happen and you suffer, it puts you in a mode what, what you're really suffering about is yourself. And you were honest about it. Thank you for that. I saw you do it.

Lewis Howes 38:53 Yeah, of course.

Tony Robbins 38:53 You said, "You know, well, I was thinking this guy did this and it cost me this."

Lewis Howes 38:57 Yeah.

Tony Robbins 38:58 It's the me, me, me that makes us suffer.

Lewis Howes 39:01 Yeah.

Tony Robbins 39:01 When a woman will say, "I'm really worried about my children. I'm, you know, I'm really stressed," she's suffering about her children. And I'll listen to her and I'll say, "Tell me." And she'll say, "Well, they're not doing this, not doing that." And I'll turn to her usually and say, "I hope you can hear yourself, because the real reason you're suffering-

Lewis Howes 39:14 Hmm

Tony Robbins 39:14 ... is not because of your children. It's not because they're not doing well. It's 'cause you think you've failed them."

Lewis Howes 39:19 Hmm.

Tony Robbins 39:20 It's about you, 'cause otherwise you'd just be working on the solution.

Lewis Howes 39:23 Right.

Tony Robbins 39:23 But you're busy beating yourself up, feeling bad, thinking the worst case scenario, right? So the antidote to suffering, the antidote to loss, less, never is appreciation. I always tell people, trade your expectation for appreciation, your whole life changes.

Lewis Howes 39:36 Hmm.

Tony Robbins 39:36 So I was just doing this talk here earlier, and I shared with them experience, and I'm fortunate enough to have my own, you know, private jet now, but it, it's a intercontinental jet, so I can fly straight to China.

Lewis Howes 39:44 Wow.

Tony Robbins 39:44 It's bigger than a Gulfstream. It's a Global Express. So it's like having your own bed in the sky, office in the sky. It's this amazing privilege.

Lewis Howes 39:50 We filmed in there last time.

Tony Robbins 39:51 Oh, that's right. I forgot about that.

Lewis Howes 39:52 We filmed the interview. [laughs]

Tony Robbins 39:53 So it's fun. So you got the sense of it.

Lewis Howes 39:54 It's amazing.

Tony Robbins 39:54 It's just so great. But up until that time, I was chartering.

Lewis Howes 39:58 Yeah.

Tony Robbins 39:59 But half my business was overseas, and it's like, you know, $400,000 to fly to Australia and back on a Gulfstream, so it didn't make any sense. I finally did well enough. I sold a couple companies, made a couple hundred million dollars, and I went and bought the plane. But before that, I would be so stressed getting on Qantas Airlines-

Lewis Howes 40:16 [laughs]

Tony Robbins 40:16 ... to fly to Australia.

Lewis Howes 40:17 First class. Yeah, first class. [laughs]

Tony Robbins 40:18 First class. Little bed. I would be so stressed-

Lewis Howes 40:20 Really?

Tony Robbins 40:20 ... 'cause in my head I'd go, there's no internet. I'm cut off for 14 hours. I got 31 companies. I mean, I got this list of calls, and texts, and Slacks, and emails, and, and by the time I get there it's gonna triple in size, right?

Lewis Howes 40:32 You're gonna lose money. Yeah, yeah.

Tony Robbins 40:32 I'd be all stressed out, right? And then one day I'd ask myself, what the F is stressful about sitting or lying when you got a bed, you know, even on a commercial flight like that in first class. And I realized what an idiot I was, but it still grabbed me. You'd still suffer. And I remember one of the last times it happened before I got my plane, ironically, the, they announced on the air, they said, uh, uh, "Ladies and gentlemen, we're proud to announce we have international internet." And it was like God descended in the airplane.

Lewis Howes 40:58 [laughs]

Tony Robbins 40:58 We're all cheering, clapping. It's so wonderful, right? And, and then within about nine minutes the thing broke down.

Lewis Howes 41:05 Oh, man. Yeah. Everyone's on there. It's like-

Tony Robbins 41:07 Everybody's pissed. They're like, "Oh, this is bullshit. I can't believe this. I'm not putting up with this." And I tell the story because nine minutes before it was a miracle.

Lewis Howes 41:15 [laughs] Right.

Tony Robbins 41:17 Now, after nine minutes, it's already an expectation.

Lewis Howes 41:19 Wow.

Tony Robbins 41:20 And when you have expectations, you're always miserable. I realized my happiness was so cheap, 'cause all I had to do was have this nearby and I could lose my happiness. Because 31 companies, 1,200 employees, you know, five continents, I think. Yeah, five continents now. Seven different ... What are the chances that right now someone is screwing up something with that many employees and that many businesses?

Lewis Howes 41:42 100% chance.

Tony Robbins 41:43 100%.

Lewis Howes 41:43 Yeah. [laughs]

Tony Robbins 41:43 So all I gotta do is wait, and open up, and find the piece there.

Lewis Howes 41:46 See a mistake.

Tony Robbins 41:46 It's like, "Ah, I can't believe ... What the hell is the matter with him?" See, I realized-

Lewis Howes 41:50 Hmm

Tony Robbins 41:50 ... all I had to do was have my phone to be stressed. If that's true, my happiness is so cheap. 'Cause what are the chances of everybody doing exactly what you think they should do the right way every day?

Lewis Howes 42:02 Zero.

Tony Robbins 42:02 Zero. What are the chances of the people you love doing what you want them to do the way you want to do them every day?

Lewis Howes 42:07 Zero.

Tony Robbins 42:08 What are the chances of you doing the right thing every day, even if you're talented and disciplined? Zero.

Lewis Howes 42:12 Zero.

Tony Robbins 42:13 So your happiness will never last-

Lewis Howes 42:15 Hmm

Tony Robbins 42:15 ... as long as it's got expectation behind it. Don't get me wrong, I have businesses. I run them. We manage them. But I know that people are gonna screw up, or my idea of screw up is different than I think they should be.

Lewis Howes 42:26 Right.

Tony Robbins 42:26 And sometimes their screw up will turn into something even better. Right?

Lewis Howes 42:29 True.

Tony Robbins 42:29 I gotta give it room. So what I did was I began to realize I made the decision, it's the most important decision I believe of your life, that I'm not gonna suffer anymore. Life's too short to suffer, and I'm gonna live in a beautiful state every day.

Lewis Howes 42:42 Hmm.

Tony Robbins 42:42 And the way I do it is I catch myself when I start to get that sense of stress, I let it go, and I see the idea go by. So your thoughts, thoughts about this person messing up your business or not following through- If I was in a room with 10,000 people, I guarantee you 60, 70% of the business owners have the same thoughts at times.

Lewis Howes 43:00 Yeah, yeah.

Tony Robbins 43:01 Right? I ask people all the time, "Tell me your most stressful thought." "Oh, I'm worried about my children, this may happen." How many people have, have had that thought? Everybody.

Lewis Howes 43:07 Yeah.

Tony Robbins 43:07 "Uh, I might not make it financially," blah, blah, blah. How many have had that? Everybody. My point is, it's not your thought. It's the mind, not your mind. When you think it's your mind, you identify with it, and it's h- you can't separate from yourself.

Lewis Howes 43:21 Right.

Tony Robbins 43:21 But when you realize these thoughts have been around for millions of years, and I'm just thinking the same thought that so many people have thought before. Like, how many people-

Lewis Howes 43:30 Mm

Tony Robbins 43:30 ... have ever thought, "I'm gonna kill this son of a bitch"? Now, you didn't do it-

Lewis Howes 43:33 [laughs] You thought it

Tony Robbins 43:33 ... 'cause you didn't believe you're really gonna kill them. But you felt it, you said it. You were there, right? So we all have thoughts. It's only the stressful thoughts we believe that mess us up.

Lewis Howes 43:43 Yeah.

Tony Robbins 43:43 So what I try to show people is-

Lewis Howes 43:45 Mm

Tony Robbins 43:45 ... if you can start to realize these thoughts have been around for millions of years. If I told you a million year, you know, thousand or a hundred years ago that we're gonna go to the moon and back, you'd call me a lunatic or crazy. If I said 100 years ago, you're gonna have a little box like this that'll fit in your pocket, and you can click on it, and you can see what the weather is any place.

Lewis Howes 44:03 Mm.

Tony Robbins 44:03 You could click on it and see a live person on the other side of the Earth and talk to them by looking in this box, and the way it works is invisible waves are traveling around the Earth, and it pulls invisible waves in the box. You'd go like, "Read between the lines. There's no way, you dumb idiot."

Lewis Howes 44:16 Sure, sure. [laughs]

Tony Robbins 44:17 "It's never gonna happen." So what I want you to realize is thoughts are invisible waves.

Lewis Howes 44:21 Mm.

Tony Robbins 44:21 When you turn on a TV, it takes invisible waves, and depending on the channel, you're gonna see a love story or an adventure or a drama or a comedy-

Lewis Howes 44:31 Horror

Tony Robbins 44:32 ... or a horror. The way you use your body determines which of those thought waves come through you.

Lewis Howes 44:37 Mm.

Tony Robbins 44:37 One moment you're pissed off. The next moment somebody makes you laugh. You change your body, you change the channel. You change what comes through you. So what I've tried to do in this Arie Beautiful State is simple.

Lewis Howes 44:47 Yeah.

Tony Robbins 44:47 First, identify where you're suffering. What's your favorite flavor? Are you a worrier? Are you a pissed-off person?

Lewis Howes 44:52 Stressed, angry.

Tony Robbins 44:53 What is it you do?

Lewis Howes 44:54 Yeah.

Tony Robbins 44:55 Second of all, decide you're gonna kill that monster while it's little. You're not gonna wait until it's Godzilla taking the city. You're gonna break the pattern. You start to feel the stress. You see it as thoughts going by, and then you focus on something to appreciate, enjoy, or love. Appreciation, love, and joy destroy suffering. You can't be grateful and angry simultaneously. It's impossible.

Lewis Howes 45:14 Yeah.

Tony Robbins 45:14 You can't be worried and fearful and, and grateful simultaneously. So I tell people gratitude is one of the emotions to cultivate that'll destroy the suffering.

Lewis Howes 45:23 Yeah.

Tony Robbins 45:23 And that's what we teach people to do.

Lewis Howes 45:25 We've got about 10 minutes, so I wanna make sure I ask the right question-

Tony Robbins 45:28 You got it

Lewis Howes 45:28 ... for you to end. Um, and one of the things I love in the book that you say is, "Success without fulfillment is the ultimate failure."

Tony Robbins 45:34 Yes.

Lewis Howes 45:34 And so it doesn't matter how rich you get from this book or how driven you are to make money, if you won't understand how to live in a beautiful state, and you're the wealthiest person in the world, you know a lot of billionaires who are miserable, I'm assuming.

Tony Robbins 45:45 Yeah, that's correct.

Lewis Howes 45:46 This is something important, and I love that it's in a financial make-money book-

Tony Robbins 45:50 Yes

Lewis Howes 45:50 ... because, and it's the last chapter about beautiful state, because again, if we're driven so much to make money, I was there in my early 20s.

Tony Robbins 45:57 Yeah.

Lewis Howes 45:57 That's all I cared about. I obsessed over making money.

Tony Robbins 45:59 Yeah.

Lewis Howes 46:00 And I got overweight, and I was miserable, and I was in bad relationships.

Tony Robbins 46:03 Yeah.

Lewis Howes 46:03 If I don't understand how to have fulfillment and peace inside, then the outside achievements don't matter.

Tony Robbins 46:09 No, and you also, you'll just have a hard time maintaining-

Lewis Howes 46:11 Yes

Tony Robbins 46:11 ... great relationships of any sort-

Lewis Howes 46:13 Yeah, yeah

Tony Robbins 46:13 ... because when, you know, no matter how, what a good human being you are, when we get in lousy states, we behave in ways overtly and covertly-

Lewis Howes 46:19 Yeah

Tony Robbins 46:19 ... not even meaning to, that mess up our relationships.

Lewis Howes 46:21 Yeah.

Tony Robbins 46:22 So I felt like I'd be remiss if I wrote a whole book on finance showing exactly how to get wealthy-

Lewis Howes 46:26 Mm-hmm

Tony Robbins 46:26 ... and then I didn't show you real wealth-

Lewis Howes 46:27 Yeah

Tony Robbins 46:27 ... because there's lots of people ... O- of the billionaires I'd interviewed, I, I don't wanna grossly, uh, be unfair in estimate, but I would say the rarest commodity was somebody who was happy all the time. Somebody like Richard Branson, he is having the time of his life.

Lewis Howes 46:41 He seems pretty happy.

Tony Robbins 46:42 And no, he really, he's sincerely that.

Lewis Howes 46:44 Yeah.

Tony Robbins 46:44 He's hungry. He's driven.

Lewis Howes 46:46 Mm.

Tony Robbins 46:46 He's always growing. He's expanding. He's having fun. He, his favorite phrase, "Give it a go, Tony. Let's give it a go."

Lewis Howes 46:51 [laughs]

Tony Robbins 46:52 But I would say that it is the absolute minority. I tell people what's more rare than a billionaire is someone who's in a beautiful state every day, somebody who's happy every day.

Lewis Howes 47:01 Yeah.

Tony Robbins 47:01 You get a new billionaire in the United States every six days.

Lewis Howes 47:04 Wow.

Tony Robbins 47:04 A dime a dozen.

Lewis Howes 47:04 [laughs]

Tony Robbins 47:05 Someone who's really, really, really happy, juicy. Like, my goal now, I have a different goal. My goal is I wanna find ecstasy in each moment. I wanna find something to be passionate about each moment, and I've been living that the last two years religiously.

Lewis Howes 47:19 Mm.

Tony Robbins 47:19 In the beginning, my 90-second rule should've been like a four-hour rule or maybe a four-day rule.

Lewis Howes 47:23 [laughs] Yeah.

Tony Robbins 47:24 I was really shitty at it. But when you do something again and again-

Lewis Howes 47:27 You get better

Tony Robbins 47:27 ... it becomes like a muscle, right?

Lewis Howes 47:28 Yeah.

Tony Robbins 47:28 And you get good at it, and it'll, it'll make you more wealthy than money will.

Lewis Howes 47:31 Yeah.

Tony Robbins 47:31 But you don't have to pick. You can get wealthy in financial terms and wealthy in emotional terms, too, spiritual terms, too.

Lewis Howes 47:36 I love it.

Lewis Howes 47:36 I did a video yesterday, and I asked my audience to submit questions.

Tony Robbins 47:40 Cool.

Lewis Howes 47:40 And I was telling you before, and I picked a bunch of them, and I'll, I'll take the top few-

Tony Robbins 47:44 Great

Lewis Howes 47:44 ... that I think are interesting that maybe no one's really ever asked you.

Tony Robbins 47:48 Cool. I love it.

Lewis Howes 47:48 So hopefully, hopefully these are new questions for you. This is from Ryan Evers who said, uh, "What is the one thing you're still vulnerable about despite all your success you have, and what still makes you uncomfortable that a lot of people don't know about?"

Tony Robbins 48:02 Hmm.

Lewis Howes 48:03 Is there anything?

Tony Robbins 48:04 What makes me uncomfortable?

Lewis Howes 48:06 The thing you're still vulnerable about despite all your success or the thing that makes you uncomfortable.

Tony Robbins 48:08 Well, I would say health, as strongly as it is. I had a real health scare this last year. I think you know.

Lewis Howes 48:12 Yeah.

Tony Robbins 48:12 I shared it with you.

Lewis Howes 48:13 Yeah.

Tony Robbins 48:14 I had mercury poisoning, and, um, and mercury mimics, uh, dementia.

Lewis Howes 48:19 Wow.

Tony Robbins 48:19 So it makes you lose your memory in the middle of talking, which I've ... You know, I do 50-hour events with 10,000 people and never forget a thought, and I've had, uh, the last year where I literally don't know where I am or what's going on in the middle of being in the room. Now, no one's seen it or known it, um, 'cause I ask afterwards, 'cause I'm pretty good at, you know-

Lewis Howes 48:35 Hiding it. [laughs]

Tony Robbins 48:36 ... not hiding it, but I, my mind works so fast I can put something else in there. But, uh, but that's been really rough.

Lewis Howes 48:41 Hmm.

Tony Robbins 48:41 And then the other part ... And so you feel vulnerable. I- it's happened twice when I was speaking to you today.

Lewis Howes 48:45 Wow.

Tony Robbins 48:45 Kind of like, did I say this before?

Lewis Howes 48:46 Really?

Tony Robbins 48:46 'Cause I've done a bunch of interviews, and so it popped in my head just for a moment. Did I say that? I'm not sure-

Lewis Howes 48:50 Oh

Tony Robbins 48:50 ... I said that. And so just for a moment, and I'm not used to that. I'm used to only being here with you or with them and not in my head. So I'm down. I went from 123 in mercury on a zero-to-five scale. It was the highest mercury they measured-

Lewis Howes 49:02 Wow

Tony Robbins 49:02 ... where I s- they thought I'd be, I, I should be dead. Um, and it took me a year, and I'm down to now nine on a zero-to-five scale. So it's still there.

Lewis Howes 49:10 Right.

Tony Robbins 49:10 But I'm almost done. So there's a great vulnerability in that, but I don't- Outside the physical, I really don't feel that, and I'm not being, um-

Lewis Howes 49:17 Sure

Tony Robbins 49:17 ... like I'm in- indestructible or some bullshit like that. It's just everything is a habit. Worrying is a habit. Fear is a habit. Uh, I'm pretty comfortable in who I am. You know, I'm 56 years old, I'll be 57 in a few days. Um, you know, I've lived a lot of life, so-

Lewis Howes 49:31 [laughs]

Tony Robbins 49:31 ... I've buried, you know, three fathers and a mother.

Lewis Howes 49:34 Mm.

Tony Robbins 49:34 I've, you know, been told I have a tumor in my brain, I'm gonna die. I've had companies that were near the edge financially and was able to turn them around. I've, I've faced enough things right now that it's not I'm so strong or cool or some shit, it's just that I've faced all those things so many times that my threshold of control is much higher than most peoples.

Lewis Howes 49:51 Mm-hmm.

Tony Robbins 49:51 'Cause, you know, I made it through the how do I keep the doors open? I need $50,000 and I don't have $50,000 to 5 million to, at one point, 120 million I needed 'cause two of my partners went broke and I was held- holding the bag, to now I'm doing 5 billion.

Lewis Howes 50:07 Right.

Tony Robbins 50:07 And I only did that because I made it through those thresholds. So I'm pretty comfortable with most things, but I think there's vulnerability in health-

Lewis Howes 50:13 Mm

Tony Robbins 50:14 ... and, and also I love my wife so much, I can't imagine losing her, and she's in good health, but those things would feel vulnerable to me.

Lewis Howes 50:19 Sure. Well, thanks for sharing. I love it.

Lewis Howes 50:21 David Hayward said, "Do you really believe deep down that you made the choice to live the life you're living or did it choose you? And how do you rationalize choice when there is so much we don't get to choose?"

Tony Robbins 50:35 Well, that's a good question. Um, I have chosen very consciously what I want for my life, and I continue to choose. I really believe that our creator has given us choice, and those that, you know, look at their life and say it's not the way they want it and blame God are barking up the wrong tree. You know, the resources are inside of us. Um, that's number one. But I'd say number two, this idea that, you know, rationalizing choice, I don't rationalize choice. I, I know it's one of the great gifts in my life-

Lewis Howes 51:02 Yeah

Tony Robbins 51:02 ... and I can make it any moment, so can you. The one power we have is the decision to change anything. You don't like your, your relationship? Change it. Change you first, [laughs] or change it.

Lewis Howes 51:11 Right.

Tony Robbins 51:11 You don't like your body? Change it. You don't like your finances? Ch- any one of us can change it. We live in a world that's filled with answers, and you got a web where you can learn from anybody on the planet now.

Lewis Howes 51:19 Mm.

Tony Robbins 51:19 You got access to them, you know? So I, I don't see it as, like, rationalizing choice. I think that mindset reveals limitations in the person asking the question. I'm not being derogatory to that person.

Lewis Howes 51:29 Sure, sure.

Tony Robbins 51:29 I'm grateful for the question. But I want you to know if you're listening that, you know, if I asked all those watching, we all have patterns.

Lewis Howes 51:39 Mm.

Tony Robbins 51:39 And I'm a student of patterns. The way I can make changes in minutes for people that were stuck for years or athletes I've turned around and developed a great amount of fame around, and, you know, the, the Quincy Jones' of the world, the-

Lewis Howes 51:51 Mm

Tony Robbins 51:51 ... you know, the Pitbulls, the Serena Williams, the things that I've done with all these people they rave about are because I know that whatever you focus on, you're gonna feel. So I'll just give you one example for the person who asked this question and for anybody listening.

Lewis Howes 52:03 Yeah.

Tony Robbins 52:04 There's... I'll give you three patterns real fast so you can check yourself out for a moment. So one pattern is of focus. Do you tend to focus more on what you have or what's missing? I'm asking your listeners right now, and you. What do you tend to focus on, what you have or what's missing?

Lewis Howes 52:18 What I have.

Tony Robbins 52:19 What you have. Great. When I ask this in a room, usually about 70% are focused on what's missing. Most achievers are focused on what's missing so they can go out and achieve more, right?

Lewis Howes 52:28 Yeah.

Tony Robbins 52:28 Nothing wrong with that. But when you stack these patterns together, it's really hard to be happy when you're constantly mo- focused on what's missing. There's a time know it's missing, so you go to work. But if you do it all the time-

Lewis Howes 52:38 Yeah

Tony Robbins 52:38 ... you can be achieving a ton like some of these billionaires-

Lewis Howes 52:41 Not fulfilling

Tony Robbins 52:41 ... and they're still f- focusing on what's missing, and so they're not happy. Another pattern would be, do you tend to focus on what you can control or what you can't control?

Lewis Howes 52:50 For me, can.

Tony Robbins 52:51 Yeah. And I, I know that's true with you.

Lewis Howes 52:53 Yeah.

Tony Robbins 52:53 The majority of people is what they can't control.

Lewis Howes 52:56 Right.

Tony Robbins 52:56 Now, if you focus on what's missing all the time and what you can't control, you're gonna be depressed. I don't care if you take Prozac or Zoloft-

Lewis Howes 53:04 [laughs] Never

Tony Robbins 53:04 ... or anything else. Your depression is not a Zoloft deficiency. It is the fact that you are doing something in your mind that is producing that depression. And if you constantly focus on what's missing and what you can't control... And we'll throw out a third one. Do you tend to focus more on things in the past, the present, or the future? I know you do all three. We all do all three.

Lewis Howes 53:25 Mm-hmm.

Tony Robbins 53:25 But which one for you would you say you spend more of your time on, past, present, or future?

Lewis Howes 53:28 Well, my old self would say the past and the future.

Tony Robbins 53:31 Mm-hmm.

Lewis Howes 53:31 Now, after going through One World Academy, I'm very present and present and future.

Tony Robbins 53:35 Good.

Lewis Howes 53:36 Yeah.

Tony Robbins 53:36 Well, there's no right or wrong.

Lewis Howes 53:37 Right, right.

Tony Robbins 53:37 But the past, you can't do anything about it, so the more you focus there, unless you're learning something from it-

Lewis Howes 53:42 Yeah

Tony Robbins 53:42 ... it's pretty much a waste. The present is where the joy is. The future is how you do business, right?

Lewis Howes 53:47 Right.

Tony Robbins 53:47 So you anticipate. So it's the ability to do this. But if you have someone whose pattern is focusing on what's missing, focusing on what he can't control, and focus on the past-

Lewis Howes 53:55 Mm-hmm

Tony Robbins 53:55 ... you can give them... I've seen it and I've, I've dealt with people like that who are suicidal. I come in, they got every drug, they're taking every antidepressant, and they're still depressed.

Lewis Howes 54:03 Mm.

Tony Robbins 54:03 In fact, I'll ask in audiences all the time, "How many of you know somebody who takes antidepressants and is still depressed?"

Lewis Howes 54:08 [laughs]

Tony Robbins 54:08 90% of the room will raise their hand.

Lewis Howes 54:10 I know people. I know people. I know people.

Tony Robbins 54:10 You know people. I'm, I'm sure people at home do. Well, why are they still depressed if they're taking an antidepressant? Because all the antidepressant does is numb you.

Lewis Howes 54:18 Mm-hmm.

Tony Robbins 54:18 But they're still focusing what's missing. They're still focused on what they can't control. They're still focused on past or present that's not the way they want it to be, or making up a future that's scary. Well, you're gonna be depressed no matter what unless you take control of those factors. So the answer to this question is you re- I, I don't see it as a rationale, I see it as a gift. Choice is a gift, it's always there. You can choose what you focus on, and what you focus on is what you're gonna experience.

Lewis Howes 54:41 Yeah.

Tony Robbins 54:41 You can focus on things that make you suffer, or you can focus on things that make you grateful. And of the two, gratitude is the better approach. It's not some mamby pamby positive thinking approach.

Lewis Howes 54:50 [laughs]

Tony Robbins 54:50 It's intelligent, because when you're in a good state, you can solve the problem 10 times better. I used to convince myself that if I'm suffering, if I'm pissed, I'm 10 times smarter, my brain goes faster, and it does. But you know what I also found? I'm 10 times smarter when I'm not stressed.

Lewis Howes 55:03 [laughs]

Tony Robbins 55:04 And I also enjoy my life more.

Lewis Howes 55:05 Your body doesn't hurt, your mind isn't-

Tony Robbins 55:06 And every-

Lewis Howes 55:06 Yeah, yeah

Tony Robbins 55:07 ... and, and everybody else, you're able to reach them-

Lewis Howes 55:08 Yeah, exactly

Tony Robbins 55:08 ... 'cause they're not defensive.

Lewis Howes 55:10 Two final questions.

Tony Robbins 55:10 Great.

Lewis Howes 55:11 Um,

Lewis Howes 55:12 Heather, uh, Podusky- Podeska says, "Tony, is it possible for women to become powerful leaders without making, without making men feel emasculated? And if so, how?"

Tony Robbins 55:24 Well, of course it is. I was just with, uh, Mary Callahan Erdoes, who's, um, head of JP Morgan. She manages, check this out, people that manage $2.3 trillion, with a T. She's the most powerful woman in finance for JP Morgan. And she, everybody loves Mary.

Lewis Howes 55:41 Mm.

Tony Robbins 55:42 Everybody, I mean everybody. At, at the conference, JP Morgan's Alternative Investment Conference, you know, I told you, 400 people there, you gotta have a billion dollar net worth-

Lewis Howes 55:48 Right

Tony Robbins 55:48 ... to get in, right? And everybody there raves about Mary.

Lewis Howes 55:53 Yeah.

Tony Robbins 55:53 And the reason is because Mary's successful, but she's not, she doesn't treat it as, "I'm different 'cause I'm a woman." Mary has a belief. She said, "You know, all these women are not in my business, and they all tell me it's unfair and there's a glass ceiling." She goes, "No glass ceiling for me. You know why? I don't believe it."

Lewis Howes 56:06 Hm.

Tony Robbins 56:06 She goes, "It's a meritocracy. You get what you merit." She grew that business 30%.

Lewis Howes 56:12 Wow.

Tony Robbins 56:12 JP Morgan, if you can imagine, right? [laughs]

Lewis Howes 56:14 Wow.

Tony Robbins 56:14 She grew it 30%. Everybody loves Mary. Ev- Mary's constantly there. What makes Mary successful is what makes anyone successful, male or female. She's not focused on herself. She's focused on adding more value to other people's lives than anybody else.

Lewis Howes 56:27 Yeah.

Tony Robbins 56:27 And that's the only secret in business.

Lewis Howes 56:29 Yeah.

Tony Robbins 56:29 Do more for others than anybody else does. I don't care if you're a man or a woman, I don't care if you're gay, I don't care if you're transvestite.

Lewis Howes 56:34 Right.

Tony Robbins 56:34 I don't care if you're, you know, you're not gay. I don't, I don't care what you are, what, old or young, or gender. All that matters in the world we live in today, outside your belief systems, is your ability to add value, at least in the marketplace, right? We're all have intrinsic value. Everyone has intrinsic value. You don't have to do anything to be worthwhile as a human. But if you wanna be worthwhile financially, you have to add value. You have to develop skills and abilities and do more for others-

Lewis Howes 56:58 Mm

Tony Robbins 56:58 ... than anybody else does. And I'm, I can tell you, I've met women in- the top CEOs in the world that are women, they have no problems whatsoever. The problem is up here, right? Now, don't get me wrong. Are there people that will judge someone 'cause of their color of their skin or their gender or their age? Of course there are. But we've all been through that.

Lewis Howes 57:15 Yeah.

Tony Robbins 57:15 Everybody's got something of injustice, and who cares? If you hang on the injustice, you're there. What you need to do is break through. You'll always break through if you add value.

Lewis Howes 57:21 Mm. Mm.

Tony Robbins 57:21 What's your other question?

Lewis Howes 57:22 Mm. Um, before I ask the final one, I wanna make sure you guys do get the book. This is a game changer. Again, it's a short read. For me, it took me four, four hours, which for me is, uh, very fast. So make sure you guys go get the book on unshakable.com.

Tony Robbins 57:35 I should also mention my co-author, 'cause I haven't had a co-author ever, but it's Peter Mallouk. And I want you to know, the reason I picked Peter, he's the only man in history to be picked, you know, for three years in a row as the number one wealth manager in America by Barron's.

Lewis Howes 57:48 Mm.

Tony Robbins 57:48 No one's won three years in a row. Two years in a row by CNBC, it was the last two years, and this year again by Fortune. And I'm his partner, so you know now. So when I wrote Money Master the Game, one of the things I did is I donated all the money-

Lewis Howes 57:59 Mm

Tony Robbins 57:59 ... just like I did here, but I also wanted people to know about fees. We talked about that briefly, and we talk about it in this book. Fees destroy your wealth.

Lewis Howes 58:06 They do.

Tony Robbins 58:06 And people have no clue. Little 1%, 2% fees. So I, I created a site where people could go, and they could put in-

Lewis Howes 58:12 Yes

Tony Robbins 58:12 ... all their accounts, and they could see what they're really paying. Well, and then if they wanted to work with someone, and I highly recommend somebody work with someone, you can do it on your own, but it's usually smart to work with someone. But you gotta get somebody who's talented, and you gotta get somebody-

Lewis Howes 58:23 Fiduciary, right?

Tony Robbins 58:24 Yes.

Lewis Howes 58:24 Yeah.

Tony Robbins 58:24 Who's legally responsible to support you. Now, here's one of the things you need to know. There's 310,000 financial professionals in the United States.

Lewis Howes 58:31 Wow.

Tony Robbins 58:31 310,000. They have every name.

Lewis Howes 58:33 [laughs]

Tony Robbins 58:33 Financial advisor-

Lewis Howes 58:34 Wealth manager

Tony Robbins 58:34 ... wealth manager, wealth advisor. But 90% of them are brokers.

Lewis Howes 58:37 Mm.

Tony Robbins 58:38 There's nothing wrong with a broker, but a broker works for the house. And if you hear about all the abuses of these financial companies, it's not 'cause they're mean and wrong. Their goal is to maximize the profits for their shareholders. You're not a shareholder, you're an investor on your own. The only way to get more money for shareholders is charge you more fees.

Lewis Howes 58:55 Yeah.

Tony Robbins 58:56 So everything is about bursting those fees. So I put the site together, and then I recommended fiduciaries, people that aren't brokers. Again, out of 310,000, there's only 31,000 in the whole country.

Lewis Howes 59:07 Wow.

Tony Robbins 59:08 So I put together the questions to ask, the things to do, and a site, and I recommended 10 of these people.

Lewis Howes 59:12 You have seven questions in there to ask-

Tony Robbins 59:13 I do

Lewis Howes 59:14 ... yeah, yeah.

Tony Robbins 59:14 But when I did my first book, the problem was that a bunch of these people that are fiduciaries, that are legally responsible, like if they tell you, "Buy Apple," this morning, and they buy it tonight for less money, they have to give you your stock.

Lewis Howes 59:26 Mm.

Tony Robbins 59:26 That's how strong the law is. But I found out afterwards, Peter called me up. Peter's the number one, you know, broker, or the number one registered investment advisor in the country. So it's like, I listened to him. He said, "I wanna come meet you. There's some gray areas of the law that these guys are abusing." And I found out some of the biggest guys in the world that are registered investment advisors, the 10%, they're not the 10%, they're called dually registered. It means one moment they're telling you, "I'm here for you."

Lewis Howes 59:51 Mm.

Tony Robbins 59:51 "You're only paying me this little flat fee or this percentage, but I'm not getting any commission. I'm not gonna recommend anything to you but the best, 'cause I don't, I'm incentivized. I'm like a dietician. I'm not getting paid like a butcher to sell you meat. I'm only showing you what to do."

Lewis Howes 1:00:05 Mm.

Tony Robbins 1:00:05 And in the middle of the conversation, they switch hats and they become a broker and you don't know it, and they sell you a bunch of shit that is horrible, but they do it 'cause they make the most money on it.

Lewis Howes 1:00:13 Right.

Tony Robbins 1:00:13 Right? So I can tell you 10 of those. So Peter taught me that. So I kicked everybody off the site, and I said, "Peter, what if you and I became partners? You're the number one in the world." But I said, "To do it, I'd want you to do something different." He does something really special. Most billionaires have what's called a home office.

Lewis Howes 1:00:29 Mm.

Tony Robbins 1:00:29 Home office is like 10 or 12 people, seven or eight people. One focuses on your investment, one focuses on your mortgages, one focuses on the taxes and legal-

Lewis Howes 1:00:37 Right

Tony Robbins 1:00:37 ... 'cause taxes eat up so much-

Lewis Howes 1:00:38 Right

Tony Robbins 1:00:38 ... of your money.

Lewis Howes 1:00:38 Yeah.

Tony Robbins 1:00:39 He built home offices for business- just normal business people have like a million dollars.

Lewis Howes 1:00:43 Right.

Tony Robbins 1:00:44 I convinced him to build a whole division for people with as little as $50,000. Now, he doesn't make any money on them, right?

Lewis Howes 1:00:49 [laughs]

Tony Robbins 1:00:49 'Cause he gets less than 1%.

Lewis Howes 1:00:50 But you're giving back. [laughs]

Tony Robbins 1:00:51 80, 85 basis points.

Lewis Howes 1:00:52 Sure.

Tony Robbins 1:00:52 Less than 1%. But I said, "Look, you do this, you give back to the community, you're gonna keep building your brand."

Lewis Howes 1:00:58 Mm-hmm.

Tony Robbins 1:00:58 And we've gone from 17 billion a year ago to 23 billion in assets with Peter. So I'm on his board. [laughs]

Lewis Howes 1:01:03 Nice.

Tony Robbins 1:01:04 I'm, I'm, so you know, I'm also, uh, the head of investor psychology. And so if you decide to go and you wanna get him to do a study for you or do a plan for you, he'll do it for free.

Lewis Howes 1:01:13 Right.

Tony Robbins 1:01:13 You just go to, uh, getasecondopinion.com. Getasecondopinion.com. He'll do a plan for you, and then if you wanna do business with him, it's less than 1%.

Lewis Howes 1:01:21 Mm.

Tony Robbins 1:01:22 Um, if you don't, you can do it on your own. But I do want you to know, if you do that, I benefit. I mean, I donate my money-

Lewis Howes 1:01:27 Mm

Tony Robbins 1:01:27 ... but I benefit from it 'cause I'm part of that firm, so you know. But, you know, this is a cool way for you to be able to make a comparison-

Lewis Howes 1:01:33 Right

Tony Robbins 1:01:33 ... to what else is there.

Lewis Howes 1:01:33 Yeah.

Lewis Howes 1:01:34 Awesome. Okay. Uh, before the final question, I wanna acknowledge you, like I always do, Tony, for when I was 16 I went to one of your events in St. Louis, Missouri

Tony Robbins 1:01:44 Wow

Lewis Howes 1:01:44 It was a-

Tony Robbins 1:01:44 Only time I did it in St. Louis, Missouri actually [laughs]

Lewis Howes 1:01:46 It was a ... Was it? Yeah.

Tony Robbins 1:01:47 Yes.

Lewis Howes 1:01:47 It was like a success, uh, talk-

Tony Robbins 1:01:49 Yeah, all day

Lewis Howes 1:01:49 ... all day-

Tony Robbins 1:01:50 Yeah

Lewis Howes 1:01:50 ... with different speakers.

Tony Robbins 1:01:51 Yeah, the coach of the-

Lewis Howes 1:01:52 Trump was, Trump was actually-

Tony Robbins 1:01:53 ... St. Louis Rams was there.

Lewis Howes 1:01:53 Yep

Tony Robbins 1:01:54 ... Trump was there, uh-

Lewis Howes 1:01:54 I met Dick Vermeil there.

Tony Robbins 1:01:55 Yep.

Lewis Howes 1:01:55 He had a Super ring. Trump was there. I actually left right before Trump spoke actually 'cause I had to get back to class or something. I was 16, and I was about halfway down the floor. There must have been 15,000 people there.

Tony Robbins 1:02:05 Yeah

Lewis Howes 1:02:05 It was huge.

Tony Robbins 1:02:06 Yeah.

Lewis Howes 1:02:06 It was packed.

Tony Robbins 1:02:06 Yeah.

Lewis Howes 1:02:07 It was the first time I was really, I'd ever seen you, first time I was ever really aware of your stuff. I'd heard of your stuff before, but I, first time I experienced the, the presence.

Tony Robbins 1:02:15 Yes.

Lewis Howes 1:02:15 And at one point you walked down the stage and through the aisles, and I was sitting in, right next to the aisle.

Tony Robbins 1:02:21 Mm.

Lewis Howes 1:02:21 And for whatever reason, you came up and you stood right next to me. You didn't look at me. I don't remember what you said, but I remember the way you made me feel.

Tony Robbins 1:02:29 Wow.

Lewis Howes 1:02:29 And it was one of the most profound moments of my 16 years of life.

Tony Robbins 1:02:33 Wow.

Lewis Howes 1:02:34 And it, it set me up for doing what I'm doing today. I didn't know I'd be doing what I'm doing-

Tony Robbins 1:02:38 That's neat

Lewis Howes 1:02:38 ... impacting millions of people.

Tony Robbins 1:02:40 Yes.

Lewis Howes 1:02:40 Um, but I want to acknowledge you for being an incredible energy source and being in a beautiful state in that moment-

Tony Robbins 1:02:46 Thank you

Lewis Howes 1:02:46 ... to show me what's possible for my life.

Tony Robbins 1:02:48 That's very kind of you. That really touches my heart.

Lewis Howes 1:02:49 Yes.

Tony Robbins 1:02:50 How old are you now? 30 what?

Lewis Howes 1:02:51 33.

Tony Robbins 1:02:51 33.

Lewis Howes 1:02:52 33.

Tony Robbins 1:02:52 16 to 33.

Lewis Howes 1:02:53 Yes.

Tony Robbins 1:02:53 That's pretty cool.

Lewis Howes 1:02:54 The final question, I asked you this last time, it's called the three truths, and I'm curious to see if this is different now than last year. It's if, uh, it's the last day for you, the, you know, many, many years from now, it's the last day for you, and for whatever reason, your books, your videos, your audios, they're all erased for whatever reason. And you have a pen and a piece of paper, and you get to write down your three truths to everything you know about life, love, business, whatever it may be. The three things that you would leave to the world of your biggest lessons, what would those three truths for you be?

Tony Robbins 1:03:26 Gosh, there's so many. Pick three. But I'll, I'll just pick three randomly that are important. There's-

Lewis Howes 1:03:29 [laughs]

Tony Robbins 1:03:29 ... I think there's more than this. I would say, you know, that the secret to life is to get outside yourself and find the way to add value to others. There's nothing that's more fulfilling than-

Lewis Howes 1:03:40 Mm

Tony Robbins 1:03:40 ... doing something beyond yourself. I think one of the things that makes me proud to be a human being is human beings will do more for others that they care about than they'll ever do for themselves.

Lewis Howes 1:03:48 Yeah.

Tony Robbins 1:03:48 And when you tap into that, the, you have more energy than anybody else, you have more joy, you have more excitement because as I always say, life supports whatever supports life. Motive matters. And there's nothing-

Lewis Howes 1:03:59 Mm

Tony Robbins 1:03:59 ... wrong with supporting yourself. I support myself. Everyone supports themself. But when you're trying to support your family, you get different insights, your community, the world. So I think the idea of being obsessed with learning, growing, and adding value, to me, is the most important thing in life because w- you know, the only way we're happy is by making progress. You know, we grow and we feel alive. We give and we feel 10 times more alive, but you gotta grow to have something to give.

Lewis Howes 1:04:21 Yeah.

Tony Robbins 1:04:21 So that'd be one. Two for me is, um, I'd say that if you are, if you're gonna be alive and you're not enjoying yourself, you've wasted your life. That it's like every day the gift is find something to appreciate, something to enjoy, something to love, something to give thanks for because that sense of aliveness comes from-

Lewis Howes 1:04:41 Mm

Tony Robbins 1:04:41 ... that gratitude, comes from that peace. And then I'd say third, and simplistic as it sounds, love is everything. I mean, I'd trade, uh, the love that I have for my wife, my children-

Lewis Howes 1:04:50 Mm

Tony Robbins 1:04:50 ... my dear friends, uh, my coworkers, my audiences, I'd trade that for all the money in the world. I mean, no, no amount of money can match that process.

Lewis Howes 1:04:57 Mm.

Tony Robbins 1:04:57 But I'm appreciative of having the money because it allows me to have portable power. I can, you know, I f- I take care of, right now I provide 250,000 people a day with fresh water in India 'cause what kills children is waterborne disease, and it's so easy to solve. And I'm gonna get that from 250,000 to a million people a day shortly. I'm on target for it. Um, you know, we're feeding 100 million people a year. I'm gonna do that for 10 years, my 10-year plan, and then I have a, a, I'll have 100 million annuity that keeps on doing, feeding 100 million meals every year. Um, uh, I provided 100 people last year with, um, becoming medical doctors 'cause there's a giant shortage coming.

Lewis Howes 1:05:30 Right.

Tony Robbins 1:05:31 And I also wanted African Americans, uh, who just didn't have the opportunity to have that opportunity. We live in a world that isn't always just-

Lewis Howes 1:05:37 Mm

Tony Robbins 1:05:37 ... and so I did that. Um, I'm, uh, the internet is worthless if you can't read and write. So, you know, I, I partnered with, uh, Elon Musk and with Peter Diamandis and, and the XPRIZE, and we did an education XPRIZE that we've had unbelievable progress on, where one out of seven kids in this country, one out of seven people in the world can't read or write. They're illiterate. And 250 million children are illiterate, quarter of a billion. The internet's worthless when you can't read or write.

Lewis Howes 1:06:03 Right.

Tony Robbins 1:06:03 So there aren't enough teachers. There never will be. We, our demographics don't serve it or soward it. So we've got all these firms competing for this $15 million prize we put up, which then means on an iPad they can teach themself to read and write and do basic arithmetic within 18 months-

Lewis Howes 1:06:19 Wow

Tony Robbins 1:06:19 ... from nothing.

Lewis Howes 1:06:20 Wow.

Tony Robbins 1:06:20 And it's gonna be open source, so the winner gets 15 million, then everyone in the world will have access to it, you know? So those types of things, you know, they're what make you feel alive. You know, you're, it, they're all expressions of love. I always tell people, "Other than love, my labor is the thing, is the greatest gift I can give someone because it's an expression of my love."

Lewis Howes 1:06:40 Yeah.

Tony Robbins 1:06:40 And so I think that, that third point is love is everything. Make sure every single day you strive to be a blessing in the lives of the people you meet. That's my daily prayer. Lord, let me be a blessing today. Right before I walk out on stage, Lord, guide me to be a blessing in the lives of the people I meet.

Lewis Howes 1:06:55 Mm.

Tony Robbins 1:06:55 And most of the time I seem to pull that off [laughs]

Lewis Howes 1:06:57 You do a good job.

Tony Robbins 1:06:57 I've just spent a long time-

Lewis Howes 1:06:58 [laughs]

Tony Robbins 1:06:58 ... you know, a lot of years doing it, and hopefully there'll be a lot of years ahead doing it too.

Lewis Howes 1:07:01 Sure. Sure. Well, Tony, uh, make sure you guys go get the book. Tony, thank you for being the incredible, loving leader that you are.

Tony Robbins 1:07:07 Thanks, Brock.

Lewis Howes 1:07:07 It means a lot to me. Thank you.

Tony Robbins 1:07:08 I appreciate it.

Lewis Howes 1:07:08 Yeah.

Tony Robbins 1:07:08 Congratulations on what you've built.