We Study Billionaires - The Investor’s Podcast Network

Classic 20: Our Interview with Tony Robbins

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Jul 31, 2022

Tony Robbins, a self-help icon and author known for his bestsellers like 'Unshakeable,' dives deep into how adding value is crucial for both life and business. He discusses the hidden fees of 401(k) plans and their impact on returns, urging listeners to seek financial literacy. Robbins emphasizes the power of planting seeds in challenging times for future abundance and shares heartfelt insights on turning suffering into financial wisdom and philanthropy. His personal journey reveals how mindset and giving can transform not only finances but also lives.

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ADVICE

Writing and Giving

Write a book to share valuable information and help people.
Donate the profits to a meaningful cause, like feeding the hungry.

INSIGHT

Financial Abuse

Financial abuse is often a result of large corporations maximizing shareholder value, not investor value.
Fees are the primary way these corporations increase profits, often at the expense of investors.

ANECDOTE

Early Life Lessons

Tony Robbins's difficult childhood experiences shaped his desire to help others.
He learned to separate behavior from identity, understanding that even harmful actions don't define a person's essence.

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Unshakeable

Your Financial Freedom Playbook

Tony Robbins

Unshakeable is a comprehensive guide to personal finance and investing. Written by Tony Robbins and Peter Mallouk, the book provides a simple, actionable plan to deliver true financial freedom. It is divided into three sections: 'Wealth: The Rule Book' which explains the rules of the financial world, 'The Unshakeable Playbook' which offers strategies for investing and maintaining investments, and 'The Psychology of Wealth' which discusses the psychological aspects of wealth and happiness. The book includes insights from top investors and practical advice on avoiding financial loss, managing taxes, and diversification. It also emphasizes the importance of psychology in investing and provides techniques for maintaining a positive mindset during economic downturns[2][3][4].

Mindset

The New Psychology of Success

Carol S. Dweck

In this book, Carol S. Dweck introduces the concept of two mindsets: the fixed mindset and the growth mindset. People with a fixed mindset believe their abilities are static, while those with a growth mindset believe their abilities can be developed through effort and learning. Dweck shows how these mindsets influence success in school, work, sports, and personal relationships. She also discusses how to adopt a deeper, truer growth mindset, and how this can transform individual and organizational cultures. The book emphasizes the importance of perseverance, learning from failures, and embracing challenges as key components of the growth mindset[1][2][5].

MONEY Master the Game

7 Simple Steps to Financial Freedom

Tony Robbins

In 'MONEY Master the Game: 7 Simple Steps to Financial Freedom,' Tony Robbins provides a comprehensive blueprint for securing financial freedom. The book is based on extensive research and interviews with legendary investors such as Warren Buffett, Ray Dalio, Carl Icahn, and John Bogle. It outlines seven steps: making the most important financial decision of your life, becoming an insider by knowing the financial rules, making the game winnable, making the most important investment decision, creating a lifetime income plan, investing like the top 0.1%, and taking action. The book emphasizes the importance of education, diversification, and developing the right financial strategies to achieve long-term financial security and freedom.

Influence

The Psychology of Persuasion

Robert Cialdini

In this highly acclaimed book, Dr. Robert B. Cialdini explains the psychology behind why people say yes and how to apply these insights ethically. The book outlines six universal principles of influence: Reciprocation, Commitment and Consistency, Social Proof, Liking, Authority, and Scarcity. The new and expanded edition includes a seventh principle, Unity, along with new research, insights, and examples. Cialdini uses memorable stories and relatable examples to make the subject accessible and easy to understand, helping readers become more skilled persuaders and defend themselves against unethical influence attempts.

Principles

Ray Dalio

In 'Principles: Life and Work', Ray Dalio shares the principles he has developed over his career that have helped him achieve success. The book is divided into three sections: the first section explains how Dalio's principles were formed from his personal and professional experiences; the second section outlines life principles, such as embracing reality, being radically open-minded, and understanding the importance of pain and reflection in personal growth; and the third section focuses on work principles, including the use of radical truth and radical transparency to transform an organization. Dalio advocates for systematizing decision-making into algorithms, learning from failures, and building a culture where it is okay to make mistakes but unacceptable not to learn from them.