The Tony Robbins Podcast In pursuit of your why | Tony and James Altucher on the importance of purpose and the tyranny of "how”
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Dec 21, 2017 
James Altucher, an entrepreneur, investor, and best-selling author, joins Tony to explore the essence of achieving a fulfilling life. They discuss the balance between achievement and true happiness, prompting listeners to discover their personal 'why.' The duo dives into practical financial strategies amidst market fluctuations, emphasizing the importance of action and purpose. They also highlight that real wealth is anchored in mindset and purpose, not just money, inspiring a shift towards a life rich in passion, continuous learning, and giving.
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Annual Market Corrections Are Normal
- Market corrections of 10-14% happen annually and are normal, lasting on average 56 days.
- Awareness of this pattern can reduce panic and promote steadier investing behavior.
Avoid Timing the Market
- Avoid trying to time the market since missing just the top 10 trading days halves returns.
- Stay invested consistently or use dollar-cost averaging to maximize long-term gains and avoid losses.
Wealth Loss Led to Tragedy
- Adel Murrell lost billions because of a 2008 short bet and liquidity crisis.
- His identity tied to wealth made him attempt suicide despite still being extremely wealthy.
