The School of Greatness - 451 Tony Robbins: The Ultimate Guide to Financial Success and Happiness

Episode Date: February 27, 2017

"Trade your expectation for appreciation." - Tony Robbins If you enjoyed this episode, check out show notes, video, and more at http://lewishowes.com/451

This is episode number 451 with number one New York Times best-selling author Tony Robbins. Welcome to the School of Greatness. My name is Lewis Howes, a former pro-athlete turned lifestyle entrepreneur. And each week we bring you an inspiring person or message to help you discover how to unlock your inner greatness. Thanks for spending some time with me today. Now let the class begin. Over 15 years ago when I was in high school, I went to my first inspirational event in St. Louis, Missouri.

And my dad bought myself and my mom two tickets to go to this event hosted by a man named Tony Robbins. Now, I didn't really know much about who Tony Robbins was, but at the event, there were other big speakers, athletes, coaches that I admired, and I really wanted to learn from. Little did I know that this experience would change my life forever. And without this one experience, I wouldn't be doing what I'm doing today. Now, to give you some context, I was sitting on the floor seats of this big arena, about 20,000 people in the arena. And imagine kind of the 50 yard line. We were sitting back on the floor about halfway back in this arena. And Tony Robbins at one point throughout the day walks off the stage and down the aisle, down the middle of the section

where I was sitting. And I was sitting right next to the aisle and he walks down to about that 50 yard line where I was sitting with my mom and he comes up next to me. And I was just thinking to myself, I wonder if he's going to stop next to me and look at me. And he walks up next to me and he stops and he stands there for about 30 to 60 seconds. And I don't remember what he said, the things he was saying, or the suggestions of what we could do in that moment with our lives or our business. I wasn't even sure what he was saying, but I will never forget the way he made me feel in that moment. He possessed such a presence and energy and certainty about what he was talking about that made me believe more in myself. And that may sound a little crazy, may sound a little weird, but I tell you the truth. Energy doesn't lie.

And his energy in that moment was so powerful and profound for me as a 16 year old, it opened something up for me. I didn't have the confidence when I was in my teens. I think like most teens, I didn't have that confidence. And I said, that's something that I want. I don't know what it is, how he got it or, you know, what to name it, but I want it. And I want to be doing this someday. I want to be in front of an audience where I could stand in front of an audience with confidence and certainty and express a certain energy as well to get people to move forward, to be more inspired about their life and their dreams

and actually go after it with reckless abandon for love and passion and their dreams. And I'll never forget that moment. And today we have the man, Tony Robbins, back on the podcast for the third time. And for those that don't know who he is, the last two times we had him on, they were some of the biggest shows we've ever had out of 451 episodes. And so many people came up to me and said after they listened that they've listened to so many Tony Robbins interviews, but this is the one that they thought was the best because Tony opened up

in a way where he normally doesn't. And I said, okay, if I get him back on a third time, we've got to continue to push the boundaries and open him up to express and share things he's never shared in public, on an interview, to his friends. And guys, I think we did it again. That's right. I think we did it for a third time. So for those who don't know who he is,

he's coached more than 50 million people from 100 countries and is the number one life and business strategist in the world. And in his new book, he reveals how to become unshakable, someone who can not only maintain true peace of mind in a world of immense uncertainty,

economic volatility, and unprecedented change, but who can profit from the fear that immobilizes so many. And after writing the number one New York Times bestseller, Money Master of the Game, he comes back with this step-by-step financial freedom playbook, Unshakeable, taking you on a journey to transform your financial life and accelerate your path to financial freedom. Now, guys, I am pumped for this, and we cover so many things, and it really gets juicy halfway, two-thirds of the way through. It just continues to build. So there's some incredible stuff where we talk about the difference between someone who is financially rich two-thirds of the way through, it just continues to build. So there's some incredible stuff where we talk about the difference between someone who is financially rich and someone who is financially

poor. And what is that difference between the rich person and the poor person, and how can anyone have it? We also talk about how to prepare for a bear market, a market that is dying. How do we prepare for that? How do we prepare for that whether we're rich, poor, or somewhere in the middle? Also, what you need to know about timing when investing. Also, if it's possible for women to become powerful leaders without making men feel emasculated, and the antidote to all suffering. We reveal so much. We also, at the end, guys, I asked a number of people on my audience to share a question that they would want to have asked.

And we had over 250 questions submitted. So I ask a few of your questions at the end. This is a powerful interview. Make sure to share it with your friends right now as you're listening. Get everyone you know to listen to this on iTunes or Stitcher or SoundCloud or watch the YouTube video as well. lewishouse.com slash 451 for all the show notes. Guys, get ready for a powerful one with the one and only Tony Robbins. Welcome, everyone, back to the School of Greatness podcast.

Very excited about our guest, Tony Robbins. Good to see you again. So good to see you. This is interview number three that we've done together. Oh, that's right. We have done two before, haven't we? The first two both did over a half a million views on YouTube, hundreds of thousands of downloads on the audio,

some of our top episodes out of 450 episodes. Oh, that's wonderful. So I'm excited to bring back the third one. And 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. Thank you. 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 playbook, a step-by-step guide to mastery, right? Yeah. I'm going to go from where you are financially to where you want to be. I really wrote it because, you know, I wrote Money Master the Game, 700 pages. It's a monster. Yeah. But my goal was, you know, I interviewed 50 of the smartest financial people

in the world, the Warren Buffetts, the Carl Icons, the Ray Dalios, 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 bestseller,

New York Times bestseller. I was thrilled with it and I swore I wasn't going to write another book. I hadn't written a book in 20 years. And then what happened was I was doing what I just did this last week.

I was up in Whistler. We 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. So this year I had Ray Dalio, who's the largest, most successful hedge fund guy in the history of the world. He's produced more money for investors than anybody alive. I had President Clinton.

We had 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 getting in his psyche over supposedly lunch. It was supposed to be 30 minutes. And he's nine years old. He's been the most powerful man in finance for 19 years, across four presidents. And so 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. 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? Well, you give your money and you pay them to give you your money. They've always paid you and then loaned your money and made money off of it. It's the craziest thing. There are bonds right now, like Toyota is buying the bond that they're selling for.006. At that rate, it takes 69,000 years to double your money. So I'm having this conversation with him and he's head 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 of the Fed today? In this crazy environment what would you do? And he paused and he paused and he leaned forward and he said, I've resigned. Right, exactly. That did not exactly encourage things. And I interviewed Howard Marks, who runs Oak Tree Capital. In 2008, when the market was tanking, he was buying a billion dollars a week every single week because he saw everything going on sale. And he said to me, this was like six months ago, 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. And we all know there's going to be a crash. But while you're busy worrying about the crash, a lot of people missed the bull market. It's up 250% since 2008. It's up 14% since Trump was made president in November. It's crazy, right? And a lot of people on the sideline going, it's so expensive. You know, it's going to come down. So I thought what I'd do is write a short book, not 600, 700 pages.

Yes. 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, you know, a baby boomer and you never got started, you can still make it. Or if you're somebody who's, let's say, a millennial and you feel like you've been through college and you've got so much debt and you never get out of it, 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 a penny comes to me, again, to feed people because we fed 100 million

people two years ago, 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 going to feed a billion people in the next seven years. Pretty awesome. You're the man. The thing I love about this is I am a very slow reader. It takes me forever. Really? And it's hard for me to comprehend.

After like five pages, I feel like I forgot everything. Yeah. I read this in four hours. Wow. And for me, you know, I've had my own level of financial success. And I feel like I understand certain parts of it, but there's always more for me to learn. 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. So make sure you guys get this again, 100% go to Feeding America is at the foundation right now. It's a game changer. I highly recommend it. And I've got some questions for you.

We had some of our listeners ask questions. I'm going to ask some of those. Cool. But I wanted to ask first what the difference is between someone who is financially rich and someone who is financially poor. What's the difference? 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 is poor, they're a consumer. 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. That's the worst trade you can ever make in your life.

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 even taught it in my first book, was you have to decide there's a percentage of money that you're going to keep forever. You're not going to give it to Kate Spade or Ferrari or anybody 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 Steve Wynn in most of Las Vegas, he's like 74. Warren Buffett's 85. Peter Grubin, 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. 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 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 going to become an owner of American business. You don't want to have an Apple phone and not own Apple. And you don't want to just own Apple because any company can go up and down. You want to own the index. You want to own a variety with enough diversification. But if you can just shift, and I've taught people who've told me they have no money they can't save, it's really easy once you get momentum. There's a research project I did with

a gentleman who was nominated for an 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. They took a group of blue collar workers in the Midwest and said, we're going to force you to save 3%. I think it was three and a quarter or three and a half. But then everybody can go on a diet tomorrow. Everybody can save money tomorrow, right? So his tool was, all right, you're not going to save today. You're going to 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. Let me explain what that means. You and I were together before. 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 topping the power of compounding. So if you're in a situation where, as an example, let's take you've got $100,000 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 $100,000.

Never added a dime. It grew that much. But if you pay 3% of fees, which is the average most people are paying. When you ask people, are they paying? They don't know or they say 1%. Because when you hear about fees, let's say a mutual fund fee, you always hear 1%. That's the expense ratio. There are 17 other fees.

So every 1% you overpay, 1% is the average. If you pay 2 or 3 and the average mutual fund is 3.12, it sounds like nothing, 1 or 2%. But every 1% you overpay because of compounding means you lose a decade of income. So the person who paid 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 $5,000, $10,000, $50,000, or you start with $10,000 or $15,000 and eventually get it to $20,000,

the best example I can give your viewers is that there's a gentleman who worked for UPS who literally never made more than $14,000 a year. You heard about him in the book. And when he retired, he had $70 million. 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 going to make you rich. He goes, I'm never going to be rich. I make $14,000 a year.

He goes, I'm going to make you rich. I'm going to make you rich later in life. And I'm going to do it by paying a 20% tax to your business and he goes I make 14,000 here I can't live one minute less 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 We're gonna pay it for you and that 20% compounded generated 70 million dollars So Wow 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. So he does it for eight years. He only puts in, I think it was $35,000. But it's a million dollars by leaving in the market when he turned 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. The sooner you start, the better you are. Yeah.

So many questions I want to ask. I know. So many I want to ask. So is there a way to be financially free just by saying I'm going to earn more every year as opposed to investing every year? Can you do it without 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? Well, in the book I explain you've got to have diversification. Don't just throw it in the stock and just leave it there.

What most people do is they go to a mutual fund. It sounds logical. 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 sounds logical. 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. They put it in the fund and they do it for you. And you think, well, gosh, 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 Swenson,

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. 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 going to earn your way to wealth.

He said, how many people have you seen, movie stars, actors, athletes? You know, the other day, 50 Cent just went broke, right? He made $100 million on vitamin water. Somebody gave him a tip. And he had a half a billion dollars and he's broke, completely broke. Mike Tyson made a half a billion dollars and went broke. You can understand that a little bit. Yeah. I think it's 78% of NFL players go bankrupt two years after they retire. That's right. And the average lifespan of an NFL player is three and a half years. So these guys work their whole life. They go through these rough injuries and they don't add invest. So the answer is you can make a fortune. Elton John didn't go bankrupt because it's different rules in England, but he got in trouble. Who I just saw the other day is, what's his name?

The Pirates of the Caribbean. What's his name? Johnny Depp. Johnny Depp. Johnny Depp's going bankrupt right now. Really? Johnny Depp. He's making like $20, $30 million a year.

Johnny Depp was worth $700 million. Three quarters of a billion. He's on the verge of bankruptcy right now. Can't pay his bills. He was paying $30,000 a month on wine alone. Oh my gosh. bills. He was paying $30,000 a month on wine alone. He spent $3 million to take Hunter Thompson's body, burn it, put the dust into this giant cannon and shoot his dust into the space, $3 million. It doesn't matter how much money you earn, you can always get rid of it and lose it.

Buy an island and watch how quick it is. So what I show people is what you really want to do is create an income for life without working. The goal, if you own a business, and I would assume a lot of your viewers are business owners or 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. 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. 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 parents flipping things. And it's the wrong thing to do. 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, if you put all your money in your business, which is what most of us do naturally, A lot of risk. You put all your eggs in one basket and there's things that can happen.

I mean, you know, you're, let's say you spent 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 the TomTom. I don't know if you remember. You used to put on your,

are you old enough to remember that? Of course, yeah, yeah, yeah. Or you used to put on your dash. Cost a hundred bucks. It was a breakthrough. They were making like a109 or something. They were. Six months later, what happened?

The iPhone came out with Google Maps. These little bastards, excuse my French, came out with it, put Google Maps, put their own map on here, and cost how much? Zero. What's that going to do to your business when someone takes your product or service and gives it away for free? So I always tell people competition happens, technology happens. What you must do is have a second business with no moving parts, no people,

no time. Maybe it takes you two, three days a year for two or three hours after you've read the book. You put it in place and you measure it two or three times a year. That's it. Go on with your life. Now, if there's a trouble in your business, you're financially set. I, in my life, have 31 companies now. We have, you know, what do we have? 1,200 employees, seven different industries. We do 5 billion in sales. I mean, that used to be, you know, me and my seminar business. It's grown geometrically. 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, that doesn't have moving parts, and that's what this is really about. You have a great cartoon in the book where there's a kid asking his father something about how do you invest your money or how's the stock market work? And he says, you put your money in at the peak, 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, something like that. So how do we, 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. And then I put it back It went down and I was like, oh, I just lost a bunch of money.

Let me take it out. And then I put it back in another time and I'm like, what am I doing? So how do we invest without fear of, oh, it's going down. I need to take it out or like trying to time it. How do we do that?

Great question. It's one of the main reasons I wrote the book. I always tell people, if you just read the second chapter of the book, nothing else, it'll change your life. You can do that with multiple chapters. But that chapter is really about teaching people that winter is coming. We all know winter's coming, to coin a phrase. But that winter is the best time on earth. And I know that's counterintuitive. I don't mean like being a positive thinker. I mean pure facts. So in the book, I take you through 10 facts. I'll

give you a couple of them right now. The first fact I give people is why do people not invest? They're afraid of failing. You're a millennial, right? So you grew up witnessing 2008 when you were still relatively young. How old are you now? 33. Okay. So you were what, 27?

2008. Yeah, 27. Yeah, 27, 28 years old. So you're a young man and you're watching the world melting down in front of you. 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. And they have more debt than everyone, probably, right? With all the loans.

They have more college debt than everyone. Absolutely true. I have a friend that has $400,000 in debt. Dental school. President Obama just paid off his debt five has $400,000 in debt. Dental school. President Obama just paid off his debt five years ago while he was still president. What? No. I swear to God. Oh, my gosh.

It's mind-boggling. And he had a bunch of scholarships, but the last bit, it took him that long. So what I tell them is, listen, paying off your debt is not enough. You've got to become an owner or you're always going to be in that place. So, yes, pay off your debt. But here's what you need to know. You've got to become an owner. You've got to get in the game place. So yes, pay off your debt. But here's what you need to know. You got to become an owner. You got to get in the game, but you got to understand the rules of the game.

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 experience, the person with experience ends up with your money, right? So I teach people the rules of the game so they don't get screwed. 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. Worst, first, I think it was 10 days. There was a drop of $2.3 trillion with a T. Crazy. Everybody's freaking thinking, 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 for the big conference that they do every year. And they went there, MSNBC went there and everybody's freaking, what's happening? What are we going to do? And they said, let's go ask Ray Dalio. Now your listeners may or may not know Ray Dalio as, if you're not in the financial business you've probably never heard of him.

You've probably heard of Warren Buffett, but Ray Dalio's done more. You have to 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 care for shit how much money you have, he won't talk to you because he's got a closed fund. But they go and they put Dalio on television, CNBC, he's the king. What do we do? And he says, well, you don't need to panic. Corrections happen all the time, 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 from me and it's his book. So you got to go read his book. This is what he says on national television, the day the markets are crashing. And that day, to give you an idea, which was the beginning of February, I think it was nine days into February, the market was down 9% in the first five weeks of the year. His strategy, which he gave me, which has made money 85% of the time for the last 75 years. It's averaged a 10% return, just under, and the average loss, when at 15% loss, was 1.6. So if you go to Vegas and you could spend 85% of the time making money and when you made money it was 10%, your loss is 1.6, you 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 with the least risk. But what he did was a combination of that, and then right after that, I interviewed Fed Chair Alan Greenspan. He was the head of our economy, 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 there running. I was just with President Clinton this last week. He was the Fed chair for him. And I interviewed him for like two hours, you know, 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 in the Fed today, what would you do? And he looks at me and as I said, he leans forward and he says, resign. So I look at that and go, oh my God, I need to write a book that'll free people. So here's what it'll 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. If it drops 20% or more up to 80%, like in the Great Depression, then it's called a crash or called a bear market. So how often does a correction happen?

How often do we have to be prepared for it? Since 1900, we've had a correction on average every year for 116 years. So when is winter coming? This year on average. Every year. 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 last year. I'm not panicked whenever it happens because I know it's supposed to be. How long does it last? Average, 56 days. Okay, so just under two months. What's the average drop during that time? 14% over the last 30 years, 13.5 of last 100 years.

So I use the more recent one. 14% gets your attention, right? 14%, you get a little gut check. But here's what you need to know. 80% of all corrections never become a bear market. 80%. So all this fear, and what people do is what you said you did, is they see it, it's freaking out and 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 it. You sold, that's why you lost. 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 Dubai. And I said, these stocks are going to go to $8.

And some are going to go to $1. And by October, 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. That's not what I do, first of all. And I said, that'd be a lie. I'm not going to bum up. 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 in the history

of the world. In the biggest market crash in know, 1987, he made 200% when everybody else was losing their entire life. I've been coaching him continuously now for 24 years, every single day. 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, this $8 stock, some are going to be a buck. And I remember the day in March of 2009, Citibank, which had been, I think, $70, sold for 97 cents. You could go and take your money out of the ATM. It cost you more to take your money out than to own the bank, right?

And then I told people it'll jump from 99 cents to six, 10, $12 in a month or two. And it's exactly what it did, right? So what you got to know is corrections happen every year. You've got another couple months, you've got to know it's 14% and you won't lose because 80% of the time 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. We're way overdue. In modern years, last 30 years, it's about every five years. The average length of a bear is one year. The average drop is 33%. A third of those drops go 40% or above. I don't care how well prepared you are.

That's a scary thing. But it is the greatest opportunity in your lifetime to go from wherever you are financially to where you want to be. I hope your audience is listening right now. Hear me. If you want to leapfrog and you're a millennial and you think there's no future or you're a baby boomer and you think you're too old and it's too late, the greatest gift you have is coming. I know it doesn't sound like it.

This is not positive thinking bullshit. This is the truth. 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 go on sale for 50% off. Awesome. But when I tell you Apple's on sale for 50% off, you go, what am I going to do here? What's wrong? The world's coming to a dead. If you think about it, how old are you? 33. 33.

So let's assume if you were 35 and you lived to 85, you got 50, 52 years ahead of you. That means you have 52 more corrections to live through. Right. That means you're probably in those 50 years going to have 10 more bear markets to live through. If you're going to have gut checks every time or you're going to leave out of it, if you didn't participate because 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. I mean, 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 going to get in. So here's the good news about the bear. Good news about the bear, average once a year. It could be longer, but that's the average. It could be shorter. But here's the good news about the bear. The good news about the bear, average one's a year. It could be longer, but that's the average. It 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. What happened in 2009? Up 67% 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. So that's why Warren Buffett says, I want to be greedy when people are afraid. And I want to be afraid when people are greedy. If you remember 2008, he was telling everybody,

buy. He was having the time of his life. Buy, buy, buy. Everything's on sale. So what you have to do to become unshakable is turn when i only the metaphor i use is turn the snake into the rope meaning we all know the story it's the middle of the night you're walking through 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 i want to 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. How do I time it? Like right now, things are too expensive. I want to wait. People have been

saying that for eight years. Is there going to be a correction? Yes. But when it corrects, you want to 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 going to allow you to succeed. But here's what people need to know about timing. If you are not in the market, it's the most dangerous thing. This is so counterintuitive, so I hope your audience is listening. Let me show you.

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 are 400 people, you have to have a billion dollar network to get in the room. Crazy. It was mind-boggling, right? So JP Morgan did a study and also Schwab did a separate study.

Twenty 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 10.28. But in the last 20 years, a little bit less. Still great. You double your money, you know, roughly you're in a position where you double your money a little more than every, you know, what is it now, 7.2, so it'll be like a little more than 10 years. But here's what they found out. If you miss the 10 best

trading days in 20 years, because you're trying to time the market and you're not in it during one of those days, you went from an 8.2% return over that period per annum, per year, it dropped down almost half, 4.5. What are the chances of you knowing the past 10 days to trade in 20 years? None, right? Warren Buffett said, market timers and market forecasters are only there to make fortune tellers look good because no one can do it successfully. Even if they do it for a while, it doesn't last. It's luck. Jack Bogle told me, he started Vanguard, a $3 trillion company. He said, we took gorillas, a thousand in a room and had them flip coins.

And we said, how many times have you got heads, how many got tails? Just gorillas flipping them randomly. And he said one gorilla in that set 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. He said, but in the hedge fund industry, in the mutual fund industry, when somebody does 10 a row, you go, what a brilliant investor. What a genius. And it's just averages and luck at that time. That's it, yeah.

And it's just averages and luck at that time. In fact, he showed me that 96% of all mutual funds fail to match the market over a 10-year period of time. Only 4% make it, and they're constantly changing. 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. Your 8.2 doesn't drop to 4.5. It drops to 2%. You might as well have been unknowing a bond at no risk. If you miss the top 40 trading days, to give you an idea, you are minus 2%. So you've got to get in the

market. And if you're saying, what about my timing though? Studies know by Schwab, if you've got the perfect timing for the year, the right day, the best possible day to buy, some people the worst day, someone else dollar cost averages, just keeps spending the same amount every month regardless of prices, and somebody stays in cash. Who has the worst return? Cash. You get nothing for cash. The guy who was the best had the best timing.

The guy that was the worst, the guy that 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 and the best day. The worst was not being in the market. Right. See, you've got to be there. And I'm not saying put everything in stocks. We teach in the book all these different assets. But stocks in the last two centuries have provided the highest return. So you have to have significant exposure to that if you want to get the highest return. Got it. And what I love in the book, you say that 80% of financial

success is psychological, 20% is mechanical, right? So it's not about timing and trying to figure all these things out and when's the best thing or the best fund or best whatever. This is not about trading. It's about investing. Exactly. Trading is trying to do that. And most people lose money trading. Even the guys that tell you to make money see all their making money in two or three years from now.

They usually eat the dust, right? Exactly. So yes, you've got to have the psychology. And my best way of psychology is not to pump you up. If you want to be unshakable, you want to be educated, and you want to know the facts. You want to know, look, every five years I'm going to get a bear. Maybe three years. I'm going to get a correction every year. But i'm going to be in the market make money do you know that

Six of the 10 best trading days and the 20 years Happened within two weeks of the worst trading day So when when trump was elected the market dropped i think it was 800 points that night Then he at three or four in the morning, he made a speech where he was somewhat human and normal. And the market got all its money back. And since then, we're up 14% in November, December, January, three months, February, three and a half months. So people need to understand you've got to be in the market because the worst days will bring you your best days.

Exactly. Now, I went to India last year, and I went to One World Academy. That's great. Connected with Christian G and Pita G, the whole team, and I went for two and a half weeks. That's awesome. It was a game changer. And I'd heard that you'd went there. Yes.

And she's a good friend of mine. When I read the end of the book, you talked about beautiful states, suffering state, what I learned. Yes. And I love how you share that. You know, you used to talk about, you know, being in peak state as often as you can, but now you really kind of transitioned into beautiful state, right? Yeah, well, Krishnaji and I were talking, he sets it really beautiful to me. He's

a dear friend of mine. I've known him for, I guess, about 15 years. His father is one of the most powerful spiritual teachers in India. Oneness, right? Yeah. 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. Krishnaji helped organize it. And they expected a quarter million people over five days and a half a million people showed up the first morning. So it was like the ultimate craziness, if you imagine. So he's got some really beautiful grounding in his father. He's not just a religious man. He's really a spiritual man. 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 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 going to show up. The energy's high. Well, 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 them, there's something cool that you might see or do. I said, what's that, Krishnaji? And he said, well, he said, I've made a decision that I'm going to live my life where I'm going to 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 big state, everything flows. And I said, well, that's pretty much what I've been teaching. He goes, the reason is because in a beautiful state, just like you teach a big state, everything flows. 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 I think most achievers do. Most achievers don't even get fearful. We get stressed. I always tell people fear is the chief word for stress because if I fall to 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. 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. I get frustrated. I get concerned. I get pissed off. I get worried sometimes. I get these feelings. And so what I decided to do was just really create a 90-second rule for myself where I would end suffering as it arises. Because anybody tells you you're gonna end suffering

is full of crap. The reason is your brain is a two million year old brain. It's not designed to make you happy. It's designed to make you survive. But there's no saber tooth tiger for you to react to anymore. So now we worry about what are people thinking of us? Do I have enough money?

And in this country, in America, if you are in utter poverty, and I hate poverty. I've eaten 100 million people a year. so I'm not sitting on the sidelines. But if you make the worst and the least amount of money in this country and you're in total poverty, you're in the 1% of earners on the earth. Because 75% of the planet lives on $2.50 a day. So what I try to do is show people you can't build on failure, you can only build 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 the stressful thoughts. Since I've seen Krishnaji, 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. So what would be one or two of the most stressful thoughts that happen to you most often? Because we all have them, right?

You can be an overachiever and you still do it. So what would be two thoughts that show up a lot that make you stressed? You know, something's not going well in my business or it's not the way I want it to look or be or, you know, someone on my team messed up and it makes me look a certain way or my, you know, I don't know. There's a sense of loss. Yes. My identity. Yes.

My ego gets like. Yes. So what I told Christian G is 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, your mind believes a stressful thought like, oh my God, 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 cannot be someone else. It could be you. You could say, 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, freedom, whatever. Or you've 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 worse is never. If you start believing that because she said that or she did that or because I failed to do this or I said that, I'll never have love again. I'll never be wealthy.

I'll never be free. Once you believe that shit, it's true because you won't initiate. You won't solve it. You won't create it. So 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 going to, you know, I'm sure it'll make a little more part of you like, is this going to make it? Or this guy screwed up and look, it screwed me out of all these things. When those

things happen and you suffer, it puts you in a mode where you're really suffering about is yourself. And you were honest about it. Thank you for that. I saw you do it. You said, you know, well, I was thinking this guy did this and it costs me this. It's the me, me, me that makes us suffer. 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 is not because you're children. It's not because they're not doing well. It's because you think you've failed them. the real reason you're suffering is not because you're children. It's not because they're not doing well.

It's because you think you've failed them. It's about you. Because otherwise, you'd just be working on the solution. Right. 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 than ever is appreciation. I always tell people, trade your expectation for appreciation. Your whole life changes.

So I was just doing this talk here earlier, and I shared with them experience. And I'm fortunate enough to have my own private jet now, but it's an intercontinental jet, so I can fly straight to China. 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 an amazing privilege. We filmed in there last time.

Oh, that's right. I forgot about that. We filmed the interview. So it's fun. So you got the sense. It was amazing. It was so great. But up until that time, I was chartering.

Yeah. But half of my business was overseas. And it's like $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 to fly to Australia. First class. First class,

little bed. I would be so stressed because in my head I go, there's no internet. I've cut off for 14 hours. I've got 31 companies. I mean, I've got this list of calls and texts and slacks and emails and by the time I get there, it's going to triple in size. You're going to lose money. 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 bad, 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,

they announced on the air, they said, ladies and gentlemen, we're proud to announce we have international internet. And it was like God descended in the airplane. We're all cheering, clapping. It's so wonderful, right? And then within about nine minutes, the thing broke down. Oh, man. Everyone's out there.

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 a story because nine minutes before, it was a miracle. Now, after nine minutes, it's already an expectation. Wow. And when you have expectations, you're always miserable.

I realized my happiness was so cheap because 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 companies. 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? A hundred percent chance. A hundred percent. So all I had to do is wait and open up and find the piece there. I can't believe what the hell's the matter with him. See, I realized all I had to do is have my phone to be stressed. If that's true,

my happiness is so cheap. Because what are the chances of everybody doing exactly what you think they should do the right way every day? Zero. 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? Zero. What are the chances of you doing the right thing every day, even if you're talented and disciplined? Zero.

So your happiness will never last 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 going to screw up, or my idea of screw up is different than I think they should be. And sometimes their screw up will turn into something even better. I got to 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 going to suffer anymore. Life's too short to suffer and I'm going to live in a beautiful state every day. 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 eye to go by. So your thoughts, thoughts about this person messing up your business, you're 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, 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 of you have had that thought? Everybody. 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 you can't separate from yourself. 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 thought before. Like how many people have ever thought,

I'm gonna kill this son of a bitch? No, you didn't do it, because you didn't believe you were really gonna kill them. But you felt it, you said it, you were really going to 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. So what I try to show people is if you can start to realize these thoughts have been around for millions of years.

If I told you a million, you know, a thousand or a hundred years ago that we're going to go to the moon and back, you called me a lunatic or crazy. If I said a hundred years ago, you're going to have a little box like this. It'll fit in your pocket. And you can click on it and you can see what the weather is anyplace. You can 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 go like, read between the lines. There's no way, you dumb idiots. It's never going to happen. So what I want you to realize is thoughts are invisible waves in the box. You go like, read between the lines. There's no way, you dumb idiots, it's never going to happen. So what I want you to realize is thoughts are invisible waves. When you turn on a TV, it takes invisible waves, and depending on the channel, you're going to see a love story or an adventure or a drama or a comedy or a horror. The way you use your body determines which of those thought waves come through you. 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 area of beautiful state is simple. First, identify where you're suffering. What's your favorite flavor? Are you a worrier? Are you a pissed off person?

Stressed, angry. What is it you do? Second of all, decide you're going to kill that monster while it's little. You're not going to wait until it's Godzilla taking the city. You're going to 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 possible. You can't be worried and fearful and grateful simultaneously. It's possible. You can't be worried and fearful and grateful simultaneously. So I tell people gratitude is one of the emotions to cultivate that'll destroy the suffering. And that's what we teach people to do.

We've got about 10 minutes, so I want to make sure I ask the right question for you to end. And one of the things I love in the book that you say is success without fulfillment is the ultimate failure. Yes. And so it doesn't matter how rich you get from this book or how driven you are to make money,

if you don'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. That's correct. This is something important. And I love that it's in a financial make money book. Yes.

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. That's all I cared about. I was obsessed over making money. And I got overweight. And I was miserable. And I was in bad relationships.

If I don't understand how to have fulfillment and peace inside, then the outside achievements don't matter. No, and you also, you'll just have a hard time maintaining great relationships of any sort. Because when, you know, what a good human being you are, when we get in lousy states, we behave in ways, overtly and covertly, not even meaning to, that mess up our relationships.

So I felt like I'd be remiss if I wrote a whole book on finance showing exactly how to get wealthy and then I didn't show you real wealth because there's lots of people. Of the billionaires I'd interviewed, I don't want to grossly be unfair in an 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. He seems pretty happy. No, he is sincerely that. He's hungry. He's driven. He's always growing. He's expanding. He's having fun. His favorite phrase, give it a go. Told him, let's give it a go. 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. You get a new billionaire in the United States every six days. Diamond doesn't. Someone who's really, really, really happy, juicy. Like my goal now, I have a different goal. My goal is I want to find ecstasy in each moment. I want to find something to be passionate about each moment. And I've been living that the last two years, religiously.

In the beginning, my 90 second rule should have been like a four hour rule, or maybe a four day rule. I was really shitty at it. But when you do something again and again, it becomes like a muscle, right? And you get good at it. And it'll make you more wealthy than money will.

But you don't have to beg. You get wealthy in financial terms, and wealthy in emotional terms too, spiritual terms too. I love it. I did a video yesterday, and I asked my audience to submit questions. I was telling you before. And I picked a bunch of them and I'll take the top few that I think are interesting that maybe no one's really ever asked you.

So hopefully these are new questions for you. This is from Ryan Evers who said, 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? Is there anything? What makes me uncomfortable? The thing you're still vulnerable about despite all your success or the thing that makes you uncomfortable? Well, I would say health as strongly as it is. I had a real health scare this last year. I think

you know I shared with you. I had mercury poisoning, and mercury mimics dementia. So it makes you lose your memory in the middle of talking, which I do 50-hour events with 10,000 people, and don't forget a thought. And I've had over 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. No one's seen it or known it, because I ask afterwards because I'm pretty good at hiding it. But my mind works so fast I can put something else in there. But that's been really rough. And then the other part, and so you feel vulnerable. It's happened twice when I was speaking to you today.

Did I say this before? Because 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 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. I'm not in my head.

So I'm down. I went from 123 only being here with you or with them. I'm not in my head. So I'm down. I went from 123 in mercury on a 0 to 5 scale. It was the highest mercury they measured where they thought I should be dead. And it took me a year, and I'm down to now 9 on a 0 to 5 scale. So it's still there, 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 like I'm indestructible or some bullshit like that. It's just everything is a habit. Worrying

is a habit. Fear is a habit. I'm pretty comfortable in who I am. You know, I'm 56 years old. I'll be 57 in a few days. You know, I've lived a lot of life. So I've buried, you know, three fathers and a mother. I've been told I have a tumor in my brain. I'm going to die. I've had companies that were near the edge financially and was able to turn them around. 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 was much higher than most people's. Because 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 to at one point 120 million I needed because two of my partners went broke and I was holding the bag to now I'm doing 5 billion. 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. 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. Sure,. 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. Sure. Thanks for sharing. I love it. David Hayward said, do you really believe deep down that you've 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? Well, that's a good question. 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 look at their life and say it's not the way they want it and blame God are barking up the wrong tree. The resources are inside of us. That's number one. But I'd say number two, this idea that rationalizing choice, I don't rationalize choice. I know it's one of the great gifts in my life 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 relationship? Change it. Change you first or change it. You don't like your body? Change it. You don't like your finances? Any one of us can change it. We live in a world that's filled with answers. You got a web where you can learn from anybody on the planet now. You got access to them. So 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. I'm grateful for the question. But I want you to know if you're listening that if I asked all those watching, we all have patterns, 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 the Quincy Joneses of the world, the Pit Bulls, the Serena Williams, the things that I've done with all these people that they rave about are because I know that whatever you focus on, you're going to feel. So I'll just give you one example for the person who asked this question and for anybody listening. I'll give you three patterns real fast so you can check yourself out for a moment.

So one pattern is a 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? What'm asking your listeners right now, and you, what do you tend to focus on? What you have or what's missing? What I have. 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? Yeah. Nothing wrong with that. But when you stack these patterns together, it's really hard to be happy when you're constantly focused on what's missing.

There's a time where what's missing, so you go to work, but if you do it all the time, you can be achieving a ton like some of these billionaires and they're still 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? For me, can. Yeah.

And I know that's true with you. The majority of people is what they can't control. Now if you focus on what's missing all the time and what you can't control, you're going to be depressed. I don't care if you take Prozac or Zoloft 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 let's add 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. But which one for

you would you say you spend more of your time on? Past, present, or future? Well, my old self would say the past and the future. Now after going to One World Academy, I'm very present and future. Good. Well, there's no right or wrong. Right, right. But the past, you can't do anything about it. So the more you focus there, unless you're learning

something from it, it's pretty much a waste. The present is where the joy is. The future is how you do business, right? So you anticipate. So it's the ability to do this. But if you have someone

whose pattern is focus on what's missing, focus on what I can't control, focus on the past, you can give them, I've seen it. I've dealt with people like that who are suicidal. I come in, they've got every drug, they're taking every antidepressant, and they're still

depressed. In fact, I'll ask audiences all the time, how many of you know somebody who takes antidepressants and is still depressed? 90% of the room will raise their hand. I know people. You know people? I'm sure people at home do. Well, why are they still depressed if they're taking antidepressants?

Because all the antidepressant does is numb you, 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 going to be depressed no matter what unless you take control of those factors. So the answer to this question is 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 going to experience. You can focus on things that make you suffer. You can focus on things that make you grateful. And of the two, gratitude is the better approach. It's not some man-be-family positive thinking approach. 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 ten times smarter, my brain goes faster and it does. You know what I also found? I'm ten times smarter when I'm not stressed and I also enjoy my life more. Your body doesn't hurt. Your mind is just... And everybody else you're able to reach them because they're not defensive. Two final questions. Heather Podeska says, Tony, is it possible for women to become powerful leaders without making men feel emasculated?

And if so, how? Well, of course it is. I was just with Mary Catlin and Airdose, who's 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. I mean, everybody. At the conference, J.P. Morgan's Alternative Investment Conference, and I told you, 400 people there, you've got to have a billion dollar net worth to get in, right? And everybody there raves about Mary. And the reason is because

Mary's successful, but she's not, she doesn't treat it as I'm different because I'm a woman. Mary has a belief. She said, all these women are not in my business. And they all tell me it's unfair and there's a glass ceiling. She goes, there's no glass ceiling for me. You know why? I don't believe it. She goes, it's a meritocracy.

You get what you merit. She grew that business 30%, JP Morgan, if you can imagine that. She grew it 30%. Everybody loves Mary. Mary is constantly there. What makes Mary successful is what makes anyone successful, male or female. if you can imagine that. She grew 30%. Everybody loves Mary. Mary is 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. And that's the only secret in business. 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. I don't care if you're not gay. I don't care what you are, what old or young, 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. We all have intrinsic value. Everyone has intrinsic value. You don't have to do anything to be worthwhile as a human. But if you want to be worthwhile financially, you have to add value. You have to develop skills and

abilities and do more for others than anybody else does. And I can tell you, I've met women, 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 because of their color of skin or their gender or their age? Of course there are. But we've all been through that. 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. What's your other question? Before I ask the final one, I want to 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 hours, which for me is very fast. So make sure

you guys go get the book on shakable.com. I should also mention my co-author because I haven't had a co-author ever, but it's Peter Malouk. And I want you to know the reason I picked Peter, he's the only man in history to be picked for three years in a row as the number one wealth manager in America by Barron's. 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 just like I did here. But I also wanted people to know about fees. We talked about that briefly. We talk about it in this book. Fees destroy your wealth. I do.

And people have no clue. Little 1%, 2% fees. So I created a site where people could go and they could put in all their accounts and they could see what they're really paying. 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've got to get somebody who's talented and you've got to get somebody 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. 310,000. They have every name. Financial advisor, wealth manager, wealth advocate. But 90% of them are brokers. There's nothing wrong with a broker. But a broker works for the house.

And you hear about all the abuses of these financial companies, it's not because 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 charging more fees. 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. So I put together the questions to ask, the things to do, and a site. And then I recommended 10 of these people.

You have seven questions in there to ask. I do. 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. That's how strong the law is. But I found out afterwards, Peter called me up. Peter's the number one registered investment advisor in the country. So I was like,

I listened to him. He said, I want to come meet you. There's some gray areas of the law that these guys are abusing. 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 duly registered.

It means one moment they're telling you, I'm here for you. You're only paying me this little flat fee or this percentage, but I'm not getting any commission. I'm not going to recommend anything to you, but the best, because 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. In the middle of 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 because they make the most money on it. 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. 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 because taxes eat up so much of your money.

He built home offices for business, just normal business people that have like a million dollars. I convinced him to build a whole division for people as little as $50,000. Now he doesn't make any money on them, right, because he gets less than 1%. But you're giving back. 85 basis points, less than 1%. But I said, look, you do this, you give back to the community, you're going to keep building your brand. And we've gone from $17 billion a year ago to $23 billion in assets with Peter. So I'm on his board.

Nice. So you know I'm also the head of investor psychology. And so if you decide to go and you want to get him to do a study for you or do a plan for you, he'll do it for free. You just go to getasecondopinion.com. Getasecondopinion.com. Getasecondopinion.com. He'll do a plan for you. And then if you want to do business with him, it's less than 1%. 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, but I benefit from it because I'm part of that firm, so you know. But this is a cool way for you to be able to make a comparison to what else is there. Yeah, awesome. Okay. Before the final question, I want to acknowledge you like I always do, Tony, for when I was 16, I went to one of your events

in St. Louis, Missouri. Wow. Only time I did it in St. Louis, Missouri. Was it? Yeah. It was like a success talk. All day.

All day with different speakers. Yeah, the coach at St. Louis Rams was there. Trump was there. I met Dick Vermeule there. He had a simple ring. Trump was there. I actually left right before Trump spoke, actually, because I had to get back to class or something. I was there, Trump was there. I met Dick Vermeule there. He had a simple ring. Trump was there. I actually left right before Trump spoke, actually,

because 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. It was huge. It was packed. 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 first time I experienced the presence.

Yes. And at one point, you walked down the stage and through the aisles, and I was sitting right next to the presence. Yes. And at one point you walked down the stage and through the aisles. And I was sitting right next to the aisle. 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. And it was one of the most profound moments of my 16 years of life. Wow.

And it set me up for doing what I'm doing today. I didn't know I'd be doing what I'm doing, impacting millions of people. Wow. And it set me up for doing what I'm doing today. I didn't know I'd be doing what I'm doing, impacting millions of people. Yes. But I want to acknowledge you for being an incredible energy source and being in a beautiful state in that moment to show me what's possible for my life. That's very kind of you. That really touches my heart. How old are you now? 31? 33. 33. 16 to 33. Yes. That's pretty cool. 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 it's the last day for you, 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? There's just so many. Pick three. But I'll just pick three randomly.

They're important. There's more than this. I would say 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 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. And when you tap into that, 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 wrong with supporting yourself

I suppose everyone supports himself, but when you're trying to support your family you get different insights your community of 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 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 got to grow to have something to give. So that'd be one. Two for me is, um, I'd say that if you are, if you're going to be alive and you're not enjoying yourself, you've wasted your life. And 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 that gratitude, comes from that

peace. And then I'd say third, as simplistic as it sounds, love is everything. I mean, I trade the love that I have for my wife, my children, my dear friends, my co-workers, my audiences, I trade that for all the money in the world. I mean, no amount of money can match that process. But I'm appreciative of having the money because it allows me to have portable power. I can, you know, I take care of right now, I provide 250,000 people a day with fresh water in India because what kills children is waterborne disease. And it's so easy to solve. And I'm going to get

that 250,000 to a million people a day shortly. I'm on target for it. You know, we're feeding a hundred million people a year. I'm going to do that for 10 years, my 10-year plan. And then I'll have a 100 million annuity that keeps on doing, feeding 100 million meals every year. I provided 100 people last year with becoming medical doctors because there's a giant shortage coming. And I also wanted African Americans who just didn't have the opportunity to have that opportunity. We live in a world that isn't always just.

And so I did that. The Internet is worthless if you can't read and write. So I partnered with Elon Musk and with Peter Diamandis 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. So there aren't enough teachers. There never will be. Our demographics

don't serve it or soar 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 themselves to read and write and do basic arithmetic within 18 months from nothing. And it's going to be open source. So the winner gets 15 million and everyone in the world have access to it, you know? So those types of things, you know, they're what make you feel alive. You know, they're all expressions of love. I always tell people, other than love, my labor is the the thing is the greatest gift I can give someone because it's an expression of My love 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 for I walk out on stage Lord guide me to be a blessing in the lives of the people I meet and most of The time I seem to pull that off She do good job spent a long time a lot of years I've spent a long time, a lot of years doing it, and hopefully there'll be a lot of years ahead of me too. Sure. Well, Tony, make sure you guys go get the book. Tony, thank you for being the incredible, loving leader that you are. Thank you. I appreciate it. Congratulations on what you've done. Thank you. And there you have it, guys. Oh my goodness. I think we did it again. Third time back, even more powerful every time we do this.

I would love your support in getting this message out there. Make sure to pick up a copy of Unshakeable. I read this book and I loved it. And I'm constantly trying to learn about how to maximize my finances. And this just gave me so much more clarity and peace of mind. He breaks it down in such a simple way. I'm telling you guys, go order this right now. lewishouse.com slash 451 for all the show notes.

Go pick up a copy. Check out all the other stuff we talk about. You can watch the full video interview over on YouTube or at the show notes. And please, please, please share this with your friends. Email them this episode, lewishouse.com slash 451. Put it on Twitter, Facebook, tag me and Tony on Instagram. Guys, the world needs to hear this. I'm asking for your support to get the message out there. It's such a profound and powerful interview, and I want to make sure everyone hears it. So please share it out. And if you have not left

us a review yet, please leave a review on your thoughts on this episode over on iTunes.com slash greatness. Leave us a review that helps us increase our rankings and share our message to the world over on iTunes as well. So all that would be a big support for us and the show here at the School of Greatness. Our mission is to bring you the brightest minds, ideas, and information to help you unlock your ultimate human potential. And we can't do that without your support. So it means the world to me. Guys, what a powerful interview.

And this next episode coming up, we've got Mel Robbins. I am so excited for you to meet Mel Robbins. If you don't know who she is, she's a CNN analyst and one of the biggest speakers in the world, guys. She is unbelievable. And I'm super pumped to introduce you to her. If you don't know who she is yet, make sure to share this out, leave a review, get Tony's new book, tag us on social media. I love you guys for all that you are and all that you continue to do to step up your lives and make this world a better place. You know what time it is. It's time to go out there and do something

great. Thank you.