Tony Robbins Interview On His New Book: MONEY, Mastering The Game - Bonus Episode - I Love Marketing With Joe Polish And Dean Jackson

I'm dean jackson, he's joe polish and this is the I love marketing podcast.

Hello, this is Joe Polish. I'm the president of Piranha Marketing and the founder of the Genius Network. And I want to welcome you to a very special interview. This is most likely going to change your financial destiny. Now that may sound like a bold claim, but it's one we're going to deliver on for you because we have a very special person on this call that I've been working with. He's advised Nelson Mandela, Mother Teresa, presidents of the United States, Serena Williams, Andrew Agassi, Oprah Winfrey, and many more celebrities and leaders. He's a world authority on leadership, psychology, a peace negotiation, a humanitarian. He's a strategic advisor to world leaders, successful entrepreneurs and honored business strategists. He's a philanthropist, an award winning speaker, an international best selling author, an authority on peak performance, an innovator in psychology and intervention, and an incredible, passionate, loving father of four children and a loving husband to his wife. The man I'm talking about is the one and only Tony Robbins. And on this call I've helped facilitate with Tony and his team. It's about a financial plan that gets you to financial freedom and gives you an extraordinary quality of. Now here's the story. Over the past four years, Tony's interviewed the smartest, most successful, most influential business minds in the financial world. People like Carl Icahn, who over the last 14 years has delivered 1,600% return compared to the S&P which delivered 75%. Normally wealthy people have to pay big fees to go to a hedge fund. Tony discovered how you can be right beside Carl with no hedge fund fees. He sat down with Jack Bogle, the founder of Vanguard. Tony found out from Jack how to make sure you get the most from your money and the way to ensure that you're never taking advantage of advantage. Tony also sat down with Ray Dalio, a man who 10 years ago needed to have a 5 billion dollar net worth and 100 million to even start with. And today he won't even take your money yet. Tony discovered Ray's All Weather Strategy, an investment portfolio that makes certain you perform well in good times, in bad times and across all economic environments. No matter where you are right now. If you want to know what the best of the best know and you want to master the game of money, Tony is the go to source. Also on the line with me are a few amazing experts. First, we have one of the world's most trusted leadership advisors and one of the top five leadership experts in the world, Robin Sharma, who sold over 12 million books including the Monk who sold his Ferrari and the Leader who has no title, the phenomenal number one blockbuster that is inspiring a movement around the idea that now anyone in any organization can show leadership. Next we have JJ Virginia, internationally recognized media personality, celebrity nutritionist and New York Times best selling author of the Virgin Diet, the Virgin Diet Cookbook and her newest book, the Sugar Impact Diet. We also have a three time number one best selling author, entrepreneur, filmmaker, speaker and philanthropist whose products have helped over 30,000 small businesses, authors, speakers, experts, coaches and consultants around the world, Mike Koenigs. And finally we've got my partner and co founder of the I Love Marketing podcast, also known as the Marketing Buddha, Dean Jackson, who just one little piece of trivia. He invented the squeeze page back in 1997 which is used by tens of millions of websites all over the world. So everyone on this call is super successful, bright and awesome in their own right. And all of us are going to ask Tony the questions that are going to help you have an insider access to the financial secrets usually reserved for the ultra wealthy. So first of all, Tony, welcome to the call.

Thank you. My God, that's a mouthful. After all those bios and description, we better deliver around here, I'll tell you that. Holy cow.

So we got some great people here.

So you know, you've.

For people that obviously don't know what you've been up to before we kind of get into some questions for you from all of the awesome people that we got with us today. Kind of give us a quick, a quick background of what have you been up to for the last four years.

You know, I wrote my first book in two decades and the reason I've written a book in two decades, I got a few day jobs. I've got 24 companies now, 12 that I actively manage and I've been on a plane about every four days and seeing a quarter million people a year in live events in 15 countries. And I love that live raw interaction. Six to 10,000 people. Rock and roll. Seeing things in real time, changing, doing it. But so I don't, I'm not a real fan of writing books. Most people don't read. But I decided I was going to write a book on this subject because I grew up in a very tough environment both emotionally and financially. I linked a lot of pain to not having that money in our family and I thought I was going to master that. So I did pretty well with it. But in 2008 I had so many clients, I felt like I was going back to my childhood. People that, you know, maybe have the money for food, families that couldn't put their kids through school anymore, people that lost, you know, their half their life savings and couldn't retire. And it was just the level of suffering made me crazy. And then all the conversations, the news were we're going to change the system. And of course nothing really changed in any substantial way. So by 2010 I was obsessed with understanding what broke the system down. And what most people don't know about me is that for the last 21 years I've been coaching Paul Tudor Jones, who is one of the top 10 financial traders in the history of the world. This is a man who back in 1987 when the stock market had its biggest single drop in a day, percentage wise, still the biggest today and people are losing billions of dollars, he was making more money than God. He made 200% that year for his people. I mean, just extraordinary. Nobody has ever done anything like it. In 2008 when markets were dropped 51% from peak to trough, he made positive 28%. This is one of the smartest human beings on earth. And so I worked with him because he had a challenging time, helped turn around and now he's made money every single year for 21 straight years that I've worked with him every day, he emails me every day we measure. I go see him four or five times a year and I've just produced extraordinary results. And I've learned from him because I've been side by side with him during the stock market crash, the tech crash of 2009, 11 when we went to the subprime crisis, 2008. I've been there and this guy's made money every time. So I have inside information most people would never dream of. And he pays me seven figures a year to work with them, plus a piece of the upside. So he's not looking for a pump up. It's all strategy. And I have this knowledge built up in me. And I watched this film and this inside job film shows you basically at the documentary I watched that it won the Academy Award. Matt Damon did the background voice on it. But it will walk you through how we almost blew up an entire world economy as a small number of people. And it shows you who they are and then it shows you what happened. Instead of punishing them, the punishment was not only to bail them out with your money and mine, but to put them in charge of the turnaround and Let them make money again out of this process. And at the end of this film, depending on your personality, you're either totally depressed because there's no solution, you just know you've been screwed over, or you're totally pissed off. I'm in the pissed off category. So I said, what am I going to do? And I thought, I've got access. You know, I've got access not just because of Paul, but all the people I've learned from. So all people at Paul know, though, that I know of. Through Paul, I'm going to go interview 50 of the most brilliant financial minds in the world. I'm talking about people that started with nothing and become wealthy at the highest level of wealth. The people that shape markets. I'm going to go and see if I can get them to show me. Is it possible, truthfully, for the average person to still win in a world where, you know, you go out and you try and buy your Apple stock from your E Trade, and by the time you push the button of your mouse, which takes you half a second to click it, in that half a second, those 500 microseconds, the big boys, the supercomputers, have been buying and selling, they see what you want, they know what it is, they front load you, they make money off of you. How do you do that? The good news is I found out that there's no question you can win in spite of a system that's rigged against you. And what I did is I wanted to break that down. I also know that for most people, this is a subject that's way too complex. It's way too overwhelming for them. So how could I trade it, take it and simplify? I think that, you know, complexity is really the enemy of execution. People don't do things because it's too complex. How do I take the most complex subject in the world and make it simple enough with stories and examples and make it real and make it into seven steps that anybody could do. So this is, for somebody who's a millennial, is just getting out of college going, how the hell do I even take care of all this student debt that I've got? Much less get financially free? Showing them how to get financially free, or, you know, a soccer mom saying, I got all this responsibility, I'm supposed to be this investor too, Or a baby boomer who maybe lost a bunch of money saying, how am I ever going to retire? Or a very sisky investor wants to say, I want to know what Ray Dalio used to have to get $5 billion net worth and give him $100 million. I want to know what he knows. I got it all inside this book for people, broken into the same step process. And I'm really, really excited about sharing it with people. And then I decided I wanted to turn around and take this project and make it about more than this. Last year in the summer, when I was writing this book and getting these interviews, and you can imagine these people are supposed to spend 45 minutes with me. And my average interview is three hours. And I go with a guy like Carl Icahn, who in Time magazine called him a master of the universe. Most people think of Warren Buffett as the master, but Kiplinger did a study and they showed that since 1968, if you stayed with him, you made 31% compounded versus the Berkshire. You're only at 20% compounded. As you said earlier, it's been a 1600% return. If you've been with him since 2000. If you were the S&P 500, you got 75%. The guy is a genius. I get there that day, and you got a picture. Here's my task. I want to get the best of us to tell me this stuff. Carl is a force in nature. He's the best of the best. I show up with my video crew, he's approved it. He throws out the video crew. I don't want him. I said, wait a second. You proved. He goes, I don't care. I don't want him. Okay, well, I want you to. My sound team will come in. No, no sound. I said, well, how am I supposed to do? He said, bring a pen. You got 10 minutes. Oh, man. I got to convert that into what turned into a three hour interview and a friendship and him endorsing my work. You got to get this out to everybody. So that was jobs to be able to make happen. But along the way, I also got inspired to say, I want to make this book not only change the people that are reading it, but I want to reach other people too. And I was fed when I was 11, and we had no money and no food at Thanksgiving. And it changed me. It wasn't the food, it was the people cared. So I've been paying that forward for the last 37 years. I've been 42 billion people. So last summer when I saw the cut, you know, food stamps down from 8 by $8.7 billion, and nobody even noticed it. If the equivalent of every family that we support by our government going without a meal one week a month to 12 months. This is insane. So I said, you know, what if I just donated everything in this book, not if I sell the books all in advance. And I got a big advance. Everything over earned on this. How many people can I feed? And that was 10 million. I was like, that would be cool. I said, 42 million in my life. What if I could feed 10 million a year? And then I just got more and more Inspired. So on November 15th, I'm now feeding 50 million people. Actually save 50 million on the book. It's actually 55 million. I raised it again. But I'm feeding 55 million people myself and getting matching funds to feed 100 million people through Feeding America, which is the number one hunger relief program. So if you're listening to me right now and you want to change your life, this book will change your life. But while you're doing it, for every book we sell on average, 50 people will be fed as well. And my hope is, by my touching you with this, I'm not going to dime on this book by delivering this to you. My hope is you'll be empowered and you'll find a way to give back in some beautiful way as well. Because the secret of living is giving. You get in that position, you live at a level of prosperity where you're not worried about money more. Because if you're blessing enough people's lives, you're going to have plenty. You don't have to worry about any scarcity anymore. So that's what this is all about.

Awesome. Well, the book is called Money Master the seven Simple Steps to Financial Freedom. And so I'm going to let Robin Sharma, who is awesome and everyone that's on the line here that's going to ask questions really wants to just share really valuable things with their clients, with their followers, with the people that they advise. And much of the world looks to everyone that is on this call here to what to do, how to do it, to just lead a better, more effective life. So, Robin Sharma, first off, welcome. Thank you very much. And let's have you ask Tony the first question.

Hey, Tony, great to talk to you. I really love the book. I stayed up all night reading it and I would describe it as a tour de force on the mindset of the 1% and as you suggested, how anyone can execute on the best moves of the planet's best investors. One of the things I loved about the book is you literally shared hundreds of investment strategies. One of the ones I loved was asymmetric risk asset allocation. We all know how important that is, the need to play a super strong defense, and of course, the value of being a contrarian. Because we all know that many fortunes are made doing the opposite of what the herd is doing. But one thing that really popped out at me is you said the key idea that turned your life was you sitting in the seminar of your mentor, Jim Rohn. And he looks at you straight in the eye, Tony, and he says something that you said you've never forgotten. And he said this, all you have to do to earn more money in the same amount of time is to become more valuable to the marketplace. And then you go on to write, find a way to serve millions and you can earn millions. It's the law of added value. And then you offer the anecdote you were, I think it was in the green room before Today show taping. Warren Buffet, your hero and mine is standing next to you. He shares his love of Dale Carnegie, personal development, self mastery. And so here's the question, please, we have a lot of people listening in. So for anyone who wants to be more valuable, is the strategy to develop ourselves through personal development and self mastery, or is it to focus more on generating value through our work and building a company that pours value out into the world?

That's a great question. Let me give 2 seconds of background to your context. And first of all, thank you for your kind words. And you're forcing it to yourself. So I very appreciate that. Robin, I would say the idea that most people have is that I have to earn this super chunk of money and I'm going to get this big hit and then I'm going to get financially free. I want to just tell people first, that myth is completely bad. It's a myth. It's bullshit. When you go and study the people that make fortunes, most of the people that got it with a single big hit, they made the right investment and they got lucky or, you know, they inherited it or whatever the case may be, or they worked their ass off for it. Most people don't keep it. What you really have to do is set yourself up with a system where you're adding value so you're earning more, but you're also having to take that money and make money work for you. You got to make money really, you know, your slave instead of your slave to money. Because, you know, I made a million dollars a year, went from making 38,000amillion a year and then I made a million a year for seven years. And there's a psychology you get inside your Head I was. I was probably helping 10 times as many people. I started three or four other companies. I didn't earn anymore. So it isn't enough just to have an enterprise. It is enough just to earn. There's a psychology and there's a system you got to put in place so that money is constantly working for you while you sleep. That's critically important, I think, as a base if you're going to get financially free. But to answer your question in a more specific way, you know, how do we add more value? How do we make more money is by adding value. How do we get to where we don't have to make more money is by really becoming an owner or an investor and letting that stuff compound. So there are two different skill sets. And so let's talk about the first one. How do you earn more? My mom wanted me to be a truck driver. I mean, that was her total vision for my life. She programmed it regularly. I grew up in an age when these truck master driving schools used to be on television. You could go learn to become a truck driver, make $24,000 a year. And my mom was obsessed because that meant I earned twice as much as my father, who made 12 grand a year and worked as an underground parking lot attendant. Now you think about that. I used to be so frustrated going, why is it that we're so poor? Why is it my dad works this many hours? He travels an hour driving to work, sometimes an hour and a half both ways, and we don't have enough money for food. And somebody else's father over here seems to work less hours. And look at, they've got everything. They get to go on trips, they're going to go to a great school. They get to do everything they want to do. This is insane. I'd be so frustrated. And then I went to Jim Rohn's seminar when I was 17 years old, and he looks out and he said, for many of us, the biggest problem is we think we should, that we're entitled to something because our souls are valuable. He said, your soul is valuable, but in the marketplace. The marketplace pays for added value in the economic marketplace. And he just said it very simple. There's an economic ladder in America and anywhere that's a capitalist society. And it looks like this, the more you do for others, the more you can earn if you structure it that way. And he said, it doesn't. All people don't structure that way. But you got to know that. He said, if you want to be able to earn 10 times more money in the same amount of time. You got to figure out 10 times more valuable in the same amount of time. And in that moment, I started for the first time to say, okay, if I can find a way to do more for others, if I could find a way to add more value, this game could change completely. And you're right. That theory, his way of doing that is. The way to do that is every day, spend more time investing and improving yourself than anything else. He's. The most important thing you can possibly do is to constantly grow personally, because those skill sets will grow. And when I was on the Today show for my first time I ever met Warren Buffet, we were going back and forth, talking back and forth, and we're talking about investments and where things need to go. He just straight out came and said, there is no greater investment than you can make in your own personal improvement. I tapped him on the shoulder and said, say that again to the audience. I said, that's good for business. And I teased him because it's true. Because when he went, his entire career, all that he's done would have no value if he had not learned from Dale Carnegie how to communicate and articulate in a way that was engaging for people. That opened up this whole door. So how do you become more valuable? Well, I'll give you an example. I've got. I give example of an example in the book. A lot of times a school teacher will come up to me and say, I passed out some early versions of this book, and I wanted people from every socioeconomic environment to read it. So I knew I reached everybody. And this woman came back and she said, I'm so excited about everything, but the one thing I can't do is I'd love to be able to earn more because the government controls my income. And I said to her, I said, that's why I put more of the stories in the book that wasn't there. I said, you know what if I introduced you to a person who's a schoolteacher just like you, teaches the same grade that you do, and currently makes $6 million a year. No, $4 million a year. And she goes, that's impossible. I said, no, it's not impossible. If you wish to become great, learn to become the servant of many. You're serving 30 children, and you're doing a phenomenal job. I personally think you're underpaid. I think our society is messed up in this area. But you can complain about the system, or you can find a way to get your goals. And I Said this gentleman and I set it up for introducing. I said, you know, he's from overseas and he's just passionate about teaching students. He doesn't teach them the same stuff. He's the best teacher. He's constantly mentoring them, ways to learn faster, quicker, better. And some of the students finally said, why don't you put some of those lessons online? And he started doing it, then he started charging for it. Now he makes $4 million a year and he still teaches his 30 students because he loves that. And there's other thing he does on the side. It's his avocation, what he does for fun. But he makes $4 million a year. So I can give you example after example, what you do need to do. If you want to maximize your capacity, it starts with you becoming more valuable so you have more to give. But then you do. Ideally, if you want to maximize your upside, you want a vehicle. And there is no greater vehicle than either the right kind of investment or your own business. And I tell people, when it comes to your own business, 96% of businesses fail. That's over a 10 year period of time. Only 4% make it. And the 4% that make it, that doesn't mean that they're real profitable. In fact, if you look at the universe of all business, mind boggling people, but only 5% of all businesses do a million dollars gross. Not net, but gross. So if you're going to build a business, you need to also, no matter what you do, still diversify and become an owner, become an investor. Otherwise you put all of your eggs in one basket. You can be great. The government can change the rules of the game, they can change the taxation, they can change your license, they can change all kinds of things. So you need to be able to do it. But adding value, finding a way to do more for others than anybody else does is the secret. If you go to work at McDonald's, you make 725 an hour. That's $15,000 a year. That's the bottom of the ladder. That's basic. And the reason that is is how many people can be taught today to use the cash register that symbols and to push a couple computer buttons that make french fries. I'm not being derogatory, I'm just saying lots of people can do that. So the level of value in the marketplace is not very much because lots of people can. If you can develop skill sets that lots of people don't have, that can truly add value to people's lives and not you think it Adds value. Mass number of people think it adds value. The marketplace believes that value, you can be free. The top end last year was David Tepper, who's a hedge fund guy who made $3.5 billion. Got one side, 15,000. The other 3.5 billion people go, that's totally unfair. Well, in a world today where most people give their money to a bank and they get 25 basis points or quarter, half or maybe 1%, perhaps in some places, this is a guy that got a return of 42% for his investors. Now, think of the value of that to someone's life at 1%. If you compound each year at 1%, it'll take you 72 years to double your money. One time at 42%, in two years and a little change, you doubled everything you have in your entire lifetime in a couple of years. How valuable is that? It's valuable enough to be worth $3.5 billion. Become more valuable, and the sky's the limit. Take that value and take a piece of it and become an investor, and you can tap on the power of compounding. Now you can do something that could be stronger than anything on earth other than your business, and perhaps in many cases, stronger than your business as well.

Love it.

That was.

That was a great question and a great answer. And, you know, it kind of goes back to what you say, Tony, that, you know, the quality of your life has to do with the quality of your questions. So some good questions here. Thank you, Robin. Jj, the very awesome JJ virgin who I have to say has helped literally, I don't know how many hundreds of thousands, probably millions of people with their health, with their nutrition, with their mindset, and that's her main emphasis. Jj, what's your question for Toni?

Hey, thank you, Joe and Toni, I love how you connect health and wealth throughout this book. And in the book, you talk about how 2 of our population are overweight and our struggle with fitness and health has literally become a national crisis. And then you mentioned how whether it's our health challenges or our relationship challenges or our money challenges, there are only three things we need to look at so we can achieve breakthroughs. So what are those three things we have to change if we want to change our bodies or our relationships or our finances and ultimately our lives.

Thank you, jj, and thank you for all the good work that you do. You and I share a passion in the area of health, so I couldn't write a financial book without sneaking some things in there because I can remember vividly, probably, oh, my God. Maybe Three decades ago, I'm showing my age to myself right now. I took my kids down. I used to live in Del Mar, California, near San Diego. And we went to go see Cirque Soleil when they had their first tour, really going around that area. And we were fortunate enough to get those right front row seats where we basically touched the performer practically. And we're there with my four kids and myself and my wife. And there's three seats beside us. And it was about to start. I thought somebody had great feet and missed this whole act. And then all of a sudden you hear this noise and we look back and this man's coughing. And the man literally had to be close to £400. And he's got a guy on either side and a cane. And he's coming down, fighting down the steps. And he finally gets. And he sits down on these three chairs for one person. I'm not exaggerating. And I felt so bad for him, and I felt probably worse for my daughter because he was spilling over the third chair on top of her. And I heard somebody behind me whispering, he's one of the richest man in Canada. He's a billionaire. He's a billionaire. He's so rich. He's so rich. And I thought to myself, that ain't rich. The richest man in the graveyard. That's not your goal. So when we talk about wealth, or many forms of wealth, but let's answer your question specifically. I found that if someone wants a breakthrough, a financial breakthrough, a relationship breakthrough, a breakthrough is that moment in time that we've all experienced where you struggle with something. You said you're going to lose weight. You said you're going to finally master money. You said you're going to start your business. You said you're going to do these things and you don't do it. And you come to the edge and don't do it. Come to edge and don't do it, or try it and fail. That breakthrough moment is that moment when the whole game changes, when you not only know it's changed, but you take massive action and you make that change. It's the moment you say, I do or it's over, or let's begin or let's quit or whatever it is. It's that shift. But what I found is if you're going to have a sustained breakthrough, there's three things you need. And most people, when they're looking for breakthrough, they look through these and what I would consider to be the reverse order of importance. So I'll Give you the order. Most people look at it. You want to lose weight, you want to make more money. Why are you picking up this book? You're looking for strategies. I'm a strategist. I know the value of strategy. Strategies can save you decades. If you take somebody like Ray. In this book, Ray Dalio, who's one of the greatest investors in history when you think about it, a large hedge fund is $15 billion. Ray is 160 billion. There's nobody like him on earth. 10 times the size, as we've already mentioned. You know this guy when I met him. He's got to have a $5 billion net worth to talk to him 10 years ago and $100 million initial investment. And that's a tough guy to talk to. That kind of guy has some answers. 40 years of doing this, 21% returns for 23 years. You can go try trial and error and lose all your money and spend decades doing it. But if you get access to that guy, if you can learn his formula, oh, my God. Look what you do. You get a strategy, you apply it. You could get results that are extraordinary. And that's exactly what I did, by the way. I dug in and I got him to tell me something he's never told anybody on earth. He actually laid out a portfolio that we tested it over the last 30 years. It only lost money four times in 30 years. Think about it. The last 10 years, there's been two 50% drawdowns. The average loss he had in the years that he lost one of them was.003. So really, he lost three times in 30 years. The largest loss was 3.9%. And that was when 2008, when the market dropped 50%. So in 80, to give you an idea, in 75 years, this guy's strategy, you have a strategy tested all the way back to the 1930s. It's made money 85% of the time. So the most he's ever lost in 75 years is 3.9%. So if I said to you, I got a strategy that's been proven for 75 years, every market we've imagined, the ups and downs, the craziness of our world, and last 75 years, wars, everything, recessions, good times and bad, has been right 85% of the time. And the average loss over 75 years is 1.6. The average gain overall was just under 10%. I said, you could go to Vegas and be right 85% of the time and only lose 1.9% when you're wrong. How often would you do it? You do it all day, all night. So strategy is invaluable. I'm a strategist. Business strategies, life strategies, emotional strategies, family strategies. I mean, I love them. However, when you get to some of the most important things in life, you may not be succeeding because you don't have the right strategy. But my guess is you're really missing the right story. And what I mean by story is the belief system that makes you find and use the strategy. So let's use weight loss as the example, right? So 70% of Americans are overweight, 75% of men. Mind boggling. It's never happened in the history of the world. Why is everybody overweight? Is it because the strategies for being fit and healthy and strong are that complex? Come on, there's only a few of them and we can differentiate them lots of ways. But let's be real. Is it because the information is coveted and only kept to the 1% or it's so expensive to get this information. These strategies, you have to work your ass off to avoid getting the strategies to be fit and strong. Do it in your face every single day. There's trainers everywhere to come work you out. There's a club within a mile of you or 2 miles or 10 miles of you, no matter where you live in the country. God forbid you actually would walk there. Of course you'd want to drive there. You can download your book right now, 10 books on fitness and health and nutrition right now on your iPhone. So it's not a strategy problem, it's a story problem. People that don't lose weight have a story and their story is. I've tried everything. Their story is I'm big boned. That was my story. I'm 38 pounds lighter than I was 35 years ago when I kept saying I'm overweight because I'm big boned. I'm still big boned, but I'm 38 pounds lighter. Haven't gone back. The story you tell yourself is what keeps you. I always tell people the only thing that keeps you from getting what you really want is the story you have about why you don't have it or why you're not getting it. And so we've got to destroy the story. If you tell yourself story loud enough long enough, you believe it. That was said years ago. Tell stories loud enough long enough to enough people, sooner or later people believe you. That was Hitler who said that. He lied and lied and lied until he convinced people he told it loud enough and strong enough but we're, most of us are Hitler to ourselves. So you have to uncover what's the limiting belief. If you don't have the relationship, it's not because all the good ones are gone or they're gay and you're not, or vice versa. It's because you have a story that keeps you from actually putting yourself online and finding it. I'm sure all of you have had somebody, you show them a strategy, how to do something. You know, you all experts your field in the song, you've shown them exactly what to do. It's right there in front of them. They go, nope, that won't work for me. That only works for other kinds of people because they got a story. So the story is the glue that holds people in place. And with the limiting story, it holds them in a limiting place. But they do try to tell someone, hey, that's just your story. They'll get a little annoyed. They're never going to respond. Because when you're in your story, you don't even know it. It's like they're fishing water. You need the 3rds of a breakthrough. And that is the right state. If you are in a pissed off state. If you get really mad at somebody, I'm sure all of you have experienced, you're really mad at something and then suddenly you remember everything they've ever done that's ever pissed you off, Right? It's just how it works, the brain. When we get in a state, it acts as a story that reinforces that state. If you're head over heels in love or in lust, you know what matters to you? Nothing. You know, we don't need money, who cares? We're in love, right? So your state changes the story of your life. The story determines whether you find the strategy. And if there wasn't a strategy. If you're in a strong enough state with a strong enough story, you'll come up with a strategy. You'll make up your own. But most people try to do this first by finding the strategy. Now, there's nothing wrong with that. If you find the right strategy and suddenly, wow, you lose 10 pounds. We found the right strategy. And wow, I show you how you can go to the stock market tomorrow, never lose a dime, guaranteed, and still have 80% of the upside like wealthy people do, and you go, holy cow, I don't have to worry about losing again. That starts to change your story because you start believing you can succeed. That puts you in a different state. So you can change your life to any one of These three, you can have a new strategy that helps a new story or a new state, but if you had to start with one, I'd start with state. Because if you change your state strongly enough, you'll end up with a different psychology, different story, and you'll find the tools you need and you'll execute. Lots of people know what to do, but they don't do what they know. And the reason is because they've got a story to state that doesn't get them to move through. Is that helpful?

That's pretty darn good.

Awesome.

I like it. So, strategy, story, state. Thank you, jj. And let's go to Mike Koenigs, who you've known each other for quite a while. So, Mike, what do you got on your mind for Tony?

All right.

Well, I think the first question, Tony, is when I look through the book here, you've interviewed some of the top thought leaders in the investment world for the book, and I'm curious what your and their investment advice is for a small business owner and entrepreneur. So I'm going to frame this like this. Let's assume that our target person is between 35 and 65 or 60 years old. They're making anywhere from 150,000 to a million dollars per year and can invest 10 to 20% of their income. So let's say it's between 15 to $200,000 and they want to reinvest their earnings. So if you overlaid the strategies of the thought leaders that you've interviewed, where would you or they invest? And what would be the best combination of safety and maximum ROI without having to watch the investments on a regular basis? Make it a job. So, again, I think the idea here is so many of the people that I know, let's say for the person looking for the shortcut, you've got 700 pages worth of content. And you've been around this for decades. You know, ever since I went through wealth mastery forward, you've seen it all. And again, I'm not exactly looking for the silver bullet or magic button, but more specifically, it's sort of like, gosh, you know, if I just want to take that lump and put it somewhere that's consistently performed and outperformed the market, what's the best strategy to start and then go into getting a little more complex later on?

Well, let's answer a couple layers, because you're asking a big universal question. And it's like you, too, and the rest of the team on the phone here have all taught me you don't Market to a forest, you market to individual trees, right? And so now you're bringing it back up forest. And I know why you're doing it. Just trying to simplify it. But let's be really clear. The right answer to your question is different for every person. I'm not being coy in any way, shape or form. That's why I wrote this, this book, so that you can find the answer. Because I didn't want to make these generalizations that will turn out to be a disaster for one person and great for another. I will give you some universals that will help me answer that question. But let's start with a couple things. Number one thing above all else is every business owner needs to start a new business with no employees, with no overhead, and I call it their money machine. You must take a percentage of what you have. I don't care if your business is not making money. I want you to imagine it's a tax. If the government, you know, raise their taxes by 10%, we'd all scream bloody murder. But we still pay it because we have to. But in this case, the tax is your freedom tax for yourself and that money, whatever percentage that's going to be 10, 15, 20%, that money is going to get set aside on a separate account where you never see it. It's never available to the business because the business will always eat whatever's available. One of the most valuable pieces of advice I got early in my career, my early 20s, I got when I was visiting with Ken Blanchard. Ken Blanchard wrote those one minute manager books and he's a dear friend of mine now for more than 30 years. And back then I helped him take four strokes off his golf game. Never played golf, but I knew the psychology side. He just like that, he thought that was the greatest thing on earth. So he wanted to get back to me and he said to me, said, tony, I'm going to give you the best financial advice I've ever given. Your business will always eat whatever is available. And that nature of a growing business, it's the nature of an entrepreneur. He said, I will tell you right now, these books, this book you're about to write, and any products that you do, do not make them part of your company. Mark that separately out. Don't let it go in those funds. That's got to be your personal money. Your companies will get the benefit of the customers, the clients, the opportunities, the branding. But you got to separate that out. And so he artificially helped me to take something off the table. And I Can remember times when, you know, the economy was up and down, businesses were having challenging times. But I was in great shape because I set this aside and I figured out what to do with it, obviously to make it happen. So you want a money machine. You want something that's going to make money while you sleep. You want to have something that, no matter what happens to your business, it'll make you sleep better, make you better in your business. That's number one. And by the way, the first step that I talk about in these seven steps is tap the power. And what I'm talking about, tap the power of having an owner outside your own business, your own life. Tap the power of that compounding. That's really what I'm talking about here in automating. Second piece. You got to make sure that you remember that whatever money is all about, what it gives you emotionally. Like, everybody thinks the goal. When I was growing up as a kid, it was like, okay, I'm going to become wealthy, and I'm going to retire and I'm going to do whatever the hell I want. Am I going to do anything to get as long as I live? Well, you know, I did that by what I thought retirement would be for me at the age of 7, 19, rather, right? $100,000 a year. That was it. I don't have to work for it. A year. Holy cow. That's. That's retirement. You know, three months into it, I want to kill myself. Like, all my friends are working. I mean, you know, in that case, how many bars can you go to? How many girls can you chase? It's like I had to look for something else in my life that was more meaningful. I've had friends that have sold their businesses. One friend sold his business, made $700 million cash. That was his personal net take out of the gross sale and same thing. I mean, within four months, he's like, looking to try and buy his business back. I mean, eventually he ended up buying his company back a couple years later because he wanted to get back in the game. Everybody I know, my friends, guys like Steve Wynn, right? Steve's 72 years old. Steve works harder today than he's ever worked in his life, but he does it because he loves it. So the goal, you gotta remember, is not to get financially free so you don't work. Because if you quit at 40, you know you're gonna go nuts. You quit at 50, you're gonna go nuts. What you want to do is not have to work. Remember what you're doing. You're doing because you just love it. That's a completely different game. And then you walk different, you talk different. So you've got to be able to set yourself up to do that. That's what this first component is about. Third little element is you got to remember this is all an emotional game. So asset allocation is the single most important decision you're going to make in your life. First, you got to decide to get in the game. Second, you got to know the rules of the game so you don't get screwed. That's second part of this book. Third, you got to set up the game so it's winnable, have the goals that are really real. But fourth, the most important investment decision is not do you buy Apple or not? Not whether you invest in that office building, not where you risk one chunk of money. It's how you break up those investments. Because this is what I learned from Ray Dalio. He said, listen, I'm going to tell you point blank. Everybody gravitates to a particular type of investment category that they grew up with or like or they think is the hottest thing or successful. So some people love real estate because they think they understand that some people are in the stocks or bonds, but they understand it. Somebody want to do commodities, whatever. He said, here's what I can tell you. In 40 plus years in the business, I got 1500 of the smartest people. I have to look at businesses all over the earth. Every market you can imagine simultaneously, whatever you love the most, whatever you're most heavily invested in will drop 50 to 70% at some point in your life. 50 to 70, I can show you statistically guaranteed because the problem is you're going to be too heavily weighted because it's what you think gives you more money, gives you a better return, it's what you know and you're going to be screwed. So every single one of these 50 people I interviewed, it ended up being 55, by the way. Every single one of Nobel prize winners to self made billionaires all said asset allocation of the everything. Now how do I divide my assets up? Well, I'll give you the simplest version of it right now for two seconds, imagine is the ultimate bucket list. There's a bucket you put some of your money in and you put that money in that bucket because it's secure, meaning you're not going to lose it. It's got the least chance of losing it. And as a result, if there's very little risk, there's not as much upside. The second bucket is the One everybody wants put their money in. It's the growth bucket. It's where I have the greatest upside, but it's also the risk bucket. And we forget that until we lose 50%. Then you got to make 100% to get even, to get back. So what you got to decide is how much of my life based on how much time I have to accumulate, based on what really my risk tolerance is, not what I say my risk tolerance is, which is almost always different. You know, what is it that really affects me, my cash flow? Based on these criteria, how much do I want to keep secure, growing more slowly, and how much do I want to go more aggressively? And I give you a little test in the book that are actually really entertaining and fun and, and it's interesting to see what people's real risk tolerance is. In so many seminars, we'll do like a money task game and we'll have people go out and I'll say, okay, everybody stand up. Make change. They what? I said, make change. Open your pockets, make change. That's all I tell them. So people pull out money and somebody changes a $5 bill for five ones and a 10 for two, you know, two fives or 20. But in barrel booths, people put $100 bill and somebody comes by and they take the hundred dollar bill and make them a buck. And the person sits there looking, like, shocked. And I do this for maybe three or four or five minutes. And I say, okay, sit down. And I just continue with the seminar like nothing's happened. And I guarantee it. In every group, when you got thousands of people, there's a couple people really pissed off and somebody say, hey, go, wait a second, wait a second. I want my hundred dollars back. What are you talking about? They go, I gave $100. This guy took a buck. I want my money back. The game's over. I said, first of all, who told you that the game was over? Second of all, who told it was your money? And third of all, why would I do that? If you're uncomfortable with $100 loss and you think you're going to become a business owner and investor, you're in deep shit. So most people have no clue. So asset allocation is the secret. But now let me lead you to a couple things that I learned that I think will be helpful. I think in the direction of what you're looking for, if you have limited time and you want to take your money, you want to grow it and compound it, what you don't want to do is lose what all 50 of these people and I highlight 12 of them in the book. Like, I take my four hour interviews and I do like 12 pages of each person. And of the top 12 on the universe, I say they're all different, they all have different approaches. But what's universal, every single one of them is obsessed with not losing money. Warren Buffett's old theory is, what's two rules to investing? What are they? Don't lose money is rule number one. Rule number two. See, rule number one, right? They all are obsessed. Paul Tudor has made money 21 straight years, never lost a dime because he obsessed about not losing. Because when you lose, it not only has a psychological and emotional effect, but it has a time effect on your compounding. But here's what they do best. They look at ways that they know they're going to be wrong, but they can be protected when they're wrong. See, most entrepreneurs, we're really certain what got you successful, you didn't listen to other people and you pushed your way through it. But investing, if you listen to other people, you could be in trouble. If you don't listen, you could be in trouble. No matter who you listen to, they're going to be wrong. So the best investors have a system, an asset allocation that says, when I'm wrong, I'm going to still do well. The best one on earth for making sure that you don't lose on anybody on earth is Ray Dalio. So in Ray Dalio's case, I asked him, I asked all these people, I said, look, if I was talking to a business owner, if I was talking to a mom, if I was talking a millennial, and I was having this conversation with them and I was gonna really help them out. You just got done telling me that they're not gonna make money with any wealth manager long term. The fees are gonna eat them up. You just got done telling me, you know, all the people won't work with, how could it help me help these guys? How can we do this? You made 21% a year for 23 straight years. He said, tony, I already answered that question because I said, what would you tell your kids if you couldn't give them any money? You can only give them a set of principles, a set of rules, or a portfolio. That's all you give them. And you want to ensure they were wealthy long term, what would you tell them? I answered that a few years ago because I looked around and said, I got 1500 people that work their tails off. I'm in the most competitive business in the world. I needed something that if I was gone, my family would be taken care of forever. And also all the philanthropic things I didn't want to do would continue, he said. I realized everybody said you have asset allocation. Like, you balance your portfolio with, like, 50% stocks, 50% bonds. But then 2008 happens. They both go down. So this whole theory of asset allocation is wrong. So he said, I became obsessed for five years, and I uncovered something really interesting. I uncovered that when you try to balance your portfolio, it's not balanced at all. Stocks are three times more volatile than bonds. So in shorthand, so you can understand what I'm saying. If you're 50, 50 stocks and bonds, you're in your 50s, and someone says, we're going to do 60, 40, 50, 50, we're going to balance you out from a risk perspective. You have 90% at risk and only 10% that's protected. So he said, I came up with a way of changing this. Every economic environment. Increased interest rates, lowered interest rates, economy rising, economy shrinking. There are four seasons. And I looked at every environment and saw in every environment, some type of investment does well and others do poorly. I figured the matrix of it, and I put it together and created what I call my All Weather portfolio. And when I tested it all the way back to 1925, I've done unbelievably well. Like, Tony, you just don't lose money. Just don't. Doesn't matter what the environment is. It's pennies. And you're always making money. Now, could you make more by taking more risk? Yes, but who wants to do that? You're talking about somebody who wants to run their business. So I said, okay, explain the portfolio to me. He explained it. It was all done. I said, I'm good at really simplifying things. I can teach this to anybody. I will write this the way people get it. But I said, you just gave me a recipe. The most important part of the recipe is the amounts and qualities. If you said, build a chocolate cake, use some chocolate, use some dairy products, use some flour, I need to know it's grated. Any flour, I need to know, is it dairy, is it whole milk, is it buttermilk? I need, is it a teaspoon? Is it a gallon? I need to announce the qualms. I need your secret sauce. And he looked at me and he laughed, and he goes, tony, I can't give you that. That's my business. He gave me the whole 5 billion, $100 million thing. And I said, you know what? I know, but you haven't taken a new client for 10 years. You're not going to take new clients. You're giving them half of all your. Give me the secret sauce. And I teased him and pushed him and then he did. And when I went, I was shaking at the time, like literally vibrating because he said, well, it's complex. I said, well, give me one without leverage. Well, it won't be perfect. Well, your non perfect will be better than anybody else's. So he created a portfolio. We call it the All Seasons portfolio. Here's what I can tell you. It makes money at every market that we've been able to test for 75 years. And so if you were looking for a asset allocation, that's one. But in the book I also bring you all these other people. So you know, if you look at David Swenson, David Swenson is the most successful institutional investment investor of all time. From Yale, took 1 billion, made 24 billion out of it in two decades. He'll get you a higher rate of return, but you'll have to take more risk. So that's why the answer to your question, Mike, is if I want to take more risk with that money, then maybe you want to go in a Swenson direction and you can model his portfolio. Exactly. If you want to have a great return but never be able to sleep every night, no matter what, then perhaps you want to be taking a little bit more direct look at what Ray is doing. So it really depends on your goals, your risk tolerance, the amount of time you have to collect. If you're really young, you can take more risks. If you're older and you got less time, you're going to take less risk. So those types of portfolios, and I'll plant one more seed with you, all these people don't lose money. They do everything differently. They don't lose money. All these people have a system so when they're wrong, they can still make money. That's an allocation. All these people are tax efficient. So if someone else may want to ask me about that later on, so I don't keep rambling on all these pieces, but I want to tell you one more. It was mentioned earlier is the term they all are obsessed with, asymmetrical risk reward. Asymmetrical risk reward simply means big words. It means most great investors you think take giant risk to make giant rewards. And nothing could be further from the truth. They take the smallest risk possible for huge rewards. I'll give you a business example. Many sitting at the table Here you know Sir Richard Branson. I do, too. And Richard, when he started Virgin Airlines, that's a big, big risk. And you got to buy these big airplanes. It's a huge expense. The airline business is not very profitable business for most people. So everybody thinks about Richard, this giant risk taker. When it comes to his life, he's a big risk taker, getting out of the balloon and going across the country. When it comes to business, he's not. His number one question is how do we protect the downside? What's the worst downside? Any business? His number one question, and guess what he did here. He made Boeing make him a deal that if he bought these planes and it didn't work out, he could send the planes back and have no debt. That's the kind of thing that Richard Branson does, but people don't understand. Here's what I mean by that. Paul Tudor Jones, 21 straight years making money. I'm coaching him for 21 years. His firm has had 28 years of success. Consistently unbelievable for one of his particular funds. Well, how does he do that? Well, here's how he does it. When he risks, he risks little for a lot, he and I. When I first met him, he was having some challenging times. And I went to study what was he doing when he's at his best. And I uncovered a principle that he was no longer using, and he's used it ever since for the 21 years I've worked with him called five to one. Five to one is this. If I'm going to go risk a dollar, I got to be certain I can make five. That's his philosophy and approach on the places where he's taking risk. Now, a security bucket, that's different. But if I'm going to take risk for a dollar of significant risk, I want to make five. I got to be certain to make five. But he knows he's going to be wrong. So if I'm wrong once, I can now take another dollar. Now I've spent two to make five. He could be wrong three times out of four and still break even. He could be wrong three times to make 20%. I mean, it's just. I'll give you another example. I interviewed Kyle Bass. Kyle Bass. If you've read some of those extraordinary books that, you know, that talk about Wall street went down, the name of the great writer, the guy who wrote Flyboy, Michael Wolf. What's his name?

It's Wolf, right?

Michael Wolf. No, no, not Michael Wolf. Anyway, I'll think of it. Anyway, but if you haven't heard, Kyle Bass, Michael Lewis.

That's who it is.

Sorry. Yeah, Michael Lewis. Michael Lewis book. He starts one of them. Boomerang out. He tells the story of Kyle Bass. Kyle Bass, in the worst economy we've seen in 80 years, in the middle of the subprime crisis, takes $30 million and turns it into 2 billion in two years. When you hear numbers this big, people, they don't realize what these numbers mean. So just for a second, a million seconds ago. I want you all to get this again. A million seconds ago was. What was a million seconds ago? That was 12 days ago. A million. The president talks about millionaires and billionaires in the same graphic. I just want to shake them because they're in different universes. Because a million seconds ago is 12 days ago. So when would be a billion seconds ago? The answer is 32 years ago. 32 years. A trillion, by the way, is 32,000 years ago before man was known as man. But this is a million and a billion is universes. You're in a completely different universe. To go from 30 million to 2 billion in two years is unbelievable. I sat down with Kyle. Turns out he's been a fan of my work. Also, literally listen to my stuff in college, helped shape his career. So he opened up the full doors. He showed me everything. Here's how he did it. He risked six cents for every dollar. In other words, if I'm going to risk 6 cents, my upside has to be a dollar. If I'm wrong, I lost six cents. If I'm right, I get a dollar. I get 100 cents. Well, think about that. He could be wrong 15 times, still make money. And he wasn't wrong 15 times. Why he made 30 million to 2 billion. So asymmetrical risk rewards. Amazing. You can do it with everything, but you look for it. In my book, I show example after example of ways that people can tap into that. So the answer to your question, I'm giving you three forms. First, the most important thing for that, business owners have a second business. A money machine that makes money while they're asleep, that has no employees, has no hassles. It's a percentage of that money you take off the top. It's a tax. You set it aside, and I'll show you where to invest it. But first, you got to automate it so you never see it, and it starts to build. That's number one. Second, you got to make sure that whatever you're going to invest in gives you the emotional rewards you want for some people, they're better off to have a small return and be totally secure and let it grow through time and make them free for other people. They can take bigger risks and they enjoy taking your risks and they're still going to be okay. That has to do with stage of life, that has to do with how much cash flow you have, etc. But thirdly, you really want to get yourself an asset allocation that protects you if you're wrong. And you want to get an asset location that's proven over the years. Now, there's past performance is no guarantee of future performance. We say that all the time. But 75 years of performance is not the same as a fund that did well for the last two years. And so I would argue that that's something well worth considering on the type of people that I've got for you inside of this book. And then if you want to grow, if you really want to grow, look for asymmetric score score. I'm going to say one last thing about your owners because I'm very passionate about the subject. I mean, Business Mastery is my favorite program now. I do it for five days, a couple times a year. I've learned another distinction that anyone listening owns their business should check out. Most people have heard Most business owners, 86% of business owners will never sell their business. The business will die, meaning with them. And you got a lot of baby boomers that are part of that grouping that's happening now. They want their kid to do it. The kid doesn't want to do it. They don't sell to somebody else. It's hard to sell. They don't take it public. 86% don't. And a business is a giant asset that you should be getting a multiple on. But the problem is if you own your business, you don't want to sell it because it's part of your life. So I recently I've heard about ESOPs for years, which is an employee stock ownership plan. And ESOPs are something I thought you had a multibillion dollar business to do. What I found out in the last few years is that you can take your company, you can own it, run it, direct it, control it, shape it, still sell a piece of it to. Even if you don't have anybody in your market to buy it to, you can sell it to your employees and you can do it legally and appropriately to a person who's a separate fiduciary. They look out for the employees, they make the bids and so forth. But you can end up getting six, seven, eight times your earnings. If you have a business only has 12 employees and a million dollars of actual profits, you can do nisa. I took one of my companies recently, but I never buy, sell in a million years, still run it, still direct it. And I'm nine figures in one year from that. And I still have 40% of the company. I mean, I would have never sold that business. I would never seen nine figures out in that business. And what's so cool is all my employees now in that business also are getting a chunk of money they'll never dream of. And it's all tax protected for them as well. So if people are interested, reach out to me and I can explain about ESOPs. But just want people to know that business opportunities out there, if you're going to get wealthy, your business is a great opportunity.

Wow, that's pretty. What do you think of that answer, Mike?

Yeah, thank you, Tony. I think you just sold a whole bunch of books because that was, you know, again, I wanted to ask you a general question, get, get things rolling, but you really, you gave a perfect Tony answer. So thank you for that.

Awesome.

Yeah, we'll go to. Thank you. We'll go to Dean and Matt. I just want to mention something too that's actually in your book, Tony, where you said, I've studied the few who do versus the many who talk. If you want to look for obstacles, what's wrong is always available, but so is what's right. I'm a hunter of human excellence. I seek out those individuals who break the norm and demonstrate to all of us what's really possible. And I do want to point out, because you talk about recipes and stuff, and I've even heard you say, as we've talked about this book over the last month, is that, you know, you never considered yourself like the money expert. You went out and just sought out the very best people. And it's pretty clear that there's probably no one else in the world. Based on the reputation you have, the work of yours that you've put out to the world for many years, that these individuals admired, you had a way to get them to talk with you and to divulge to you things that they probably never would have shared with anyone else. And since that is your master skill of, you know, hunting that excellence, you basically found the very best chefs in this area and you put all of their recipes into this book. So I think, you know, I think from that standpoint, it would be insane for someone to hear this and not think that this would be a roadmap that would dramatically increase your chances of winning this game. So let's go to Dean Jackson. Dean, you and Tony know each other. You play golf together. What questions do you have for him?

Well, I wouldn't say we play golf here. I say he plays golf, and I walk beside him and put balls on top of the roofs.

Are you almost like his caddy in some way? I mean, yeah, Dean is. Dean's pretty good at golf, so he's amazing at golf.

I know I play golf, but I have fun with him. Oh, that's so funny. Well, Tony, I really appreciate you spending this time with us. And I think I speak for everybody listening to this as well as the people on the call that just listening to it. I cannot wait for this book to come out and make the impact that it's going to make in the world. I think one of the things that is pretty amazing about what your. I view as one of your unique abilities is your ability to just bring your enthusiasm and your curiosity and your passion for making changes in other people, to use that and use your access to these people, that you have to really dig in and find out what are the things that you can. You've always said success leaves clues, and I think that the access that you were granted to these people was just phenomenal. What I'm curious about, and I think one of the clues that I notice, and even just looking at the wordsmithing of the way you talk about it, you talk about it as master the game of money. And I know you're big on life metaphors with these people that you got to spend all this time with. What were some of the common or notable mindsets that they have or the way that they think about it? Because I think a lot of times that will structure the way that they approach everything. A lot of business owners or people think about financial freedom as a destination, and then they're out. And mastery is a. Is a different thing. So I'm curious what you found in, you know, talking to people who have. They won the money game years and years and years ago, but they continue to play, to master it. Great question. You know, when I look at those common denominators, you got to think about how diverse these people were in terms of their approach. You got somebody like Carl Icahn who wants to go in and say, you think you're running this business, you leaders and managers and CEO of this organization, you're a disaster. Clean up your act and do these things. I'm Going to replace you. And he generates shareholder value by getting them to maximize the business at a greater level. And then you got. Look at the other side. You got somebody, you know, like Vogel, Jack Bogle, who, you know, he's been in business 63 years. He goes, look, you're never going to beat the market. So let's buy it as cheaply as possible. Let's do the index and let the index through time take care of you. Create your absolute financial freedom. I couldn't have more diverse people in terms of their approaches. You can have Sir John Templeton, who believes you make your money when there's blood in the streets and everybody's freaking out. Because when things are going well, people want too much for their stock, they want too much for their house. When prices are dropping to the floor, they'll give it away. So you buy it when they're giving it away and the cycle returns and you sell it when it's back up again. So they all have a different approach, but they have certain things in common. That asymmetrical risk reward. They have certain things in common. They're not going to lose money. Another thing that they all had in common was mastery. That this is a game that never ends and that that is the reward. That this idea that you're going to get somewhere is absurd because what are you going to do with your life then? What makes you feel alive is constantly improving. I always tell people, if you ask me, what's one word key to happiness? There is only one word. It's called progress. Progress equals happiness. It's not getting your goals to make you happy. You get your goal, then how long are you happy? And like, oh, that's great, it's wonderful. But then all of a sudden, the brain wants to do, create or share something more. Because it's not about the more, it's about growing. And if we grow, we have something to give. Every one of these people is obsessed with the fact that they know they're going to be wrong. And so they want to learn more. If you listen to Ray Dalio, he says, look, Ray's philosophy of life comes in a metaphor. He says, I believe life is like a giant jungle. And if here you are, you're on this side of the jungle and on the other side of the jungle is whatever you really want, the quality relationship, the transformed body that the economic total freedom or, you know, the acknowledgement, whatever it is, all that you want, the love. In order to get what you want, you got to go through this forest, got to Go through this jungle. He calls it a jungle, not a forest. Gotta go through this jungle. The jungle's filled with all kinds of things that could hurt you, bite you, kill you. He said, do you stay on this side of the line or do you go through that jungle and face what you gotta face and find yourself on the other side? He goes, well, if you stay on the side of the line, you not only don't get what you want, you have a life that is dead to start with. And that's why most people are numbing themselves. So I go in the jungle and I surround myself with the best people I know. And I constantly ask the question, what don't I know? Because by understanding what I don't know, if I can keep looking for that, I'm going to expand my capacity to be able to deal with whatever shows up. He grew up in the 1970s, and he told me that peer members a day that President Nixon went out and announced that we're going off the gold standard, which most people today, young people, middle aged people, don't have any association to it. Right? I mean, it used to be that a dollar was actually worth something, and it was worth a certain amount of gold. It was in Fort Knox. We all remember the stories about Fort Knox. And one day Nixon just decides everybody wants their money. And he's been printing more money than is really real. So he just decides, guess what? The money is worth whatever we say it's worth. And the world bought the theory. But in the beginning, everybody thought, the stock market will go through the floor, the dollar's worth nothing. Instead, they had what was called the Nixon rally. And for a long time, the market rallied and went up. Now we end up with massive inflation, oil prices going crazy, because the dollar wasn't really worth anything. But what it taught Ray was, oh, my God, whenever you think you know, you're wrong. And so there's this level of, I've got to know more. And so every one of these people is obsessed with that element, completely and totally. So that's the one thing I see that is in common when you say, you know, what are their core beliefs? Another core belief is they believe they should be rich. And they have different ways of language. T bone pickens is my favorite matter. I was just actually with him two days ago. I was doing a seminar in Dallas. He invited me to come over and have lunch with him. And he brought about 15 of his guys. And he's just so entertaining. 85, 86 years old now. And to give you an Idea. T. Boone retired at 67 and then came back after 67 years old, bored out of his mind. Why the hell would I retire? Same thing, had more money than God. He came back and made more money from the age of 68 to the age of 85. Right? So you're talking, you know, 15, 18 years more money then than his entire 68 years, 67 years before that. And he and I were talking the other day, and he's like, tony, I believe I was born to be rich and born to be generous with those riches. That's his whole mindset. And so he gave away a big billion dollars. We were just talking about. We were talking about taxes. At one point. He goes, yeah. He goes, that's Obama. He goes, what does he think? He's like, we should pay more. He goes, I paid a billion dollars in taxes. How much more should I pay? And he said, I gave away a billion dollars. And then he said a couple of things that went upside down. The price of natural gas is dropped through the floor. There's oversupply, amount of demand, which is an amazing problem. Great for our country, but if you're an investor, it might be a little tough for you. And so his net worth dropped slightly below a billion dollars, and he's giving away a billion dollars. He said, tony, don't worry about me. He just got married. So it's like he's somewhat optimistic. He's 86, just got married again. He goes, tony, I'm getting that money back. He said, I'm going to get $2 billion next couple of years. Why?

Why?

Because I'm made to be rich. Why? Because when I'm rich, I can do more good. That's how it works. And some of them aren't as blatant in the way they speak it, but they believe that wealth is something they should have. And I think when you deal with a lot of people, they have a negative association of wealth. You know, you see programs like the Filthy Rich on CNBC and that type of thing. You know, this idea that money makes you bad, money makes you more of what you are. If you're really, really mean, you have a lot to be more mean with. You got a lot of power. If you're really giving, you have a lot to be able to give with. It is the ultimate. Money produces more emotion in people than just about any subject other than politics, religion, and sex. Those three plus money. You can change any conversation for good or bad with that discussion really quick. It's garish. We don't like to talk about it, you know, maybe wealth is talked about a little bit, but money, because it's like a shapeshifter, it's like a canvas. Money is whatever we project on it. It's not even paper anymore. It's not even, you know, it's not gold. It's ones and zeros, like I said, that are in computers right now. So it's whatever we project. But some people have it and they're embarrassed to have it and people don't have it and they're ashamed they don't have it. Right. It's the most crazy ass thing. So unless you get your psychology straight, I tell everybody 80% of wealth is psychological, 20% is mechanics. If you get the psychology straight, I'll show you the mechanics. That's easy. So this book, everything in it about the mechanics, the strategies I got from the best on earth, everything on the psychology is the best that I've learned working with people for the last 37 years.

What do you think that Dean?

Well, that's it. I mean, just like he said, there's the way they think about it. Just the belief even that they are born to be rich. Whatever you think about you become. I think it's really without a doubt. Yeah. You know what I want to encourage people, They've conditioned it inside themselves too. It's not like it just showed up that way in their head. They focused on it. They thought about they're going to build, why they're going to build it, and then they created it. But as a result, now it's the natural norm for them. It's like when people earn a certain amount of money. We've all done that. You grew and you earn amount of money. Are you really going to go back? Most people, barring some kind of real catastrophe or stupidity on your part, you develop a different standard. What you expect from your life. You find a way to meet people meet their must. Some people have to survive. That's their must. Some people have to pay their bills. Some people have to pay their bills most of the time. Some people have to have more money than they could ever imagine so they can do what they want, when they want, where they want it, with whomever they want. Whatever is your must, you're going to find a way to get to. If you add to that must the right strategy.

That's a great line too. People meet their musts. I mean, yeah, you know, you even say in the beginning of the book that we might discuss wealth and polite company, but money is explicit. It's raw, it's garish, it's intensely personal and highly charged. It can make people feel guilty when they have it or ashamed when they don't. Then you go on to say some are even willing to give up things that are far more valuable to get at their health, their time, their family, their self worth, and in some cases even their integrity. Then you go on to say some Mary for it and then find out it's real price. And then on the next, I mean, we could talk for an hour just on what I just said, but I just want to kind of read a couple things here. It says, in the end, money isn't what we're after, is it? What we're really after are the feelings, the emotions we think money can create. That feeling of empowerment, of freedom, of security, of helping those we love and those in need, of having a choice and of feeling alive. Money is certainly one of the ways we can turn the dreams we have into the reality we live now. So much of this too is, especially the setup in the beginning of this book, is to really put you in the right frame of mind to take on the strategy and the advice and how you go about and do it. And I want to encourage people too, just because Dean just asked the last question. Me and Dean did a great interview episode on I love Marketing with Tony Just about mindset, and that will add to what you're learning here. But I want to ask JJ because I believe JJ needs to go be on a TV show or something or an interview. Jj, do you want to I'll go to Robin, but I want to see if you have any final question because I know you have to run in a few minutes.

Yes, thank you. There's one I'd love to jump in and ask. So I appreciate you doing that. And Tony, you say in the book that without physical health there is no wealth. Of course.

I love that.

I completely agree. So what are some of the technologies and advances and changes coming in the future that are going to allow us to live longer?

Well, you know, one of the greatest living inventors and scientists is a guy named Ray Kurzweil, a good friend of mine. And if you use an iPhone and you use Siri, if you listen to any form of digital music, if you've seen anything that's been copied on the web, he's the guy that created all of that. He's truly one of the greatest. He's considered the Edison of our age. And he's been able to anticipate and tell us 20 years in advance, what would be available down to the detail. I remember I meeting him in 1991, and he told me, tony, you know, he told me, I'm going to build. And he told me when he was going to build it, which was 2006, I think it was, or five, I'm going to build this device. He said, it'll be the size of a cigarette pack. Because there was no such thing as an iPhone in those days, the cigarette pack. And he said, it'll be this size. They'll be able to put it in their pocket and a blind person walk down the street, read the east street signs, go to a restaurant, order from the menu, not have to have anybody be with them. And I said, how do you know you're going to do it? Then he goes, because I can tell you by the geometric change in technology when what I want to do will be capable of being done. So he's literally that accurate. He's mind boggling. When they took the human genome and he came up with a budget and he came up with a time frame and said, we're going to crack the genome in, what was it, 12 years, if I remember correctly. And everybody said, that's impossible. It'll take 200 years. And seven years into the project, they'd only cracked 1% of the gene now. And everybody said, see, it's going to take 100 years. They said, you don't understand the power of geometric change. One percent, seven more times multiplied on top of itself is 100%. We are exactly on time. And they finished on time. And the rest is history. And what they thought was going to take 200 to $400 million now is done for $1,500. I think you can even get it now done for $100 for basic genome breakdown. So I want to give you background on who's telling you this. Not Tony Robbins. He's walking through all the different aspects that affect our health that are being transformed through technology right now that are about to be transformed. So one of those things that's going to make us live longer is the fact that organs can be transplanted. And the biggest challenge with organ transplants is you're getting it from somebody else. It's supply and demand, and it's your body rejecting it. Well, Dr. Atala at Wake Forest University was contracted with the federal government primarily in helping soldiers coming back. Has been able to grow outside the body using your own stem cells, ears and various organs. For example, he's had. For now, I think it's Eight years he's had people who have their own kidney, a brand new kidney because they had a cancer in the kidney. Instead of losing the kidney or bladder, he's able to replace it with a brand new bladder which he grows. If I remember correctly, I think it's like four weeks. This has been happening for years. It's just now getting to the point where they'll be able to have enough proof that they can do it in mass and do it for a large group. The more interesting things though are there are. Most of us know that we have regenerative qualities available to us, like you know, you know, a salamander, you cut off its tail, it grows back. Well, most people don't realize if your child loses their pinky or their finger or their thumb, there's a stage, it's between sometime from birth to two weeks and for some as much as two months, they'll actually grow it back. Baby human children will grow back the thumb or finger. And then after two months we lose that capability. But it's in us. And so there's a whole group of scientists who are obsessed with this concept of regeneration. There's a series of things like the ones called Acell that they now utilize. That is a device, believe it or not, made out of pig's bladder. And they can put it on like somebody slices off their finger and they put it on that finger and instead of doing everything else, it will grow back the entire finger, the bone, the nerves and the nail. I mean, it's mind boggling. In the book, I show an example of a guy that falls in a fire. And most people, you know, I'm sure, have seen someone who's been burned very badly. Their skin is grotesque, obviously horribly burned. And it's that way for the rest of your life. And one of the reasons is because when you burn, first of all, it's one of those painful things you experience in the body, all your nerves, et cetera. But also they put cadaver skin on someone who's severely burned to keep them alive. And this rotting flesh is just, it's just non conducive. And it's incredibly painful. And it goes on for years and years and years. So this just happened two years ago. There's now a guy falls in a fire, he goes to the hospital and I give an example, I even give a link when you go watch him today, see the before and after to blow your mind. Instead of cadaver skin, they take his, they scrape off all the skin, they take his healthy skin cells and they pull from his stem cell, they grow it in a culture into a spraying device, and they spray his body with these stem cells. And in 48 hours, he has not only no pain, but you literally when you see this, you will think it's a movie. He looks like he did beforehand. If there's no scarring, there's no breakdown. That's happening right now. It's happening in Europe, it's happening in a few hospitals here in the United States. And again, it's being done in a limited basis right now with approving it because we go through all the FDA components, but it's there. The most interesting things though are the things that are happening where there's redesign of cells. Because with nanotechnology right now they've proven a device where they could take. And right now it costs, I don't know the real number, it's like half a billion dollars to make something functional. So it's not at price point wise, it's not there. And size wise, it's not there. But as we all know, both price goes in half and technology doubles each year. And just like Moore's law, it happens with all forms of technology of this nature today. But they can make red blood cells in the future, and they already have a prototype for it now that you could replace 5% of your red blood cells. And the efficiency of these nanotechnology blood cells, which are like little micro computers and machines, would allow you to sit at the bottom of your pool for 20 minutes without taking a breath. It would allow you to run a four minute mile. It would allow you, if you had a heart attack, to have five hours to get to the hospital without dying. So this type of technology, it sounds like science fiction. Some of it is here right now, and some of it is coming for the future. And so Ray's approach is take care of yourself today because the next 20 years is going to see a change that is so radical, you think about it, 200 years ago, only 200 years ago that people lived to their early 30s and today people lived 85, 86. And the fastest growing group is centenarians over 100 years old. I've interviewed a couple people, 114 years old, one of the oldest woman in the world at the time I interviewed her. Really great shape. So the world is changing radically. Our technology is changing radically. So you got to deal with things that JJ teaches and that I teach to take care of yourself today while technology catches up. Now, if you're a millennial, you don't kill yourself. You're probably going to see most of these things. But if you're a baby boomer, it might be time to step up and take care of yourself so you can be around long enough to take advantage of it.

Well, yeah, you know, that's such a great answer to you, Tony. And probably stuff that many people weren't thinking about. And Ray's a friend of mine. I've had him speak at conferences. We got an interview with him for a Genius Network documentary we're going to be putting out soon. And I actually spent the day with you at Singularity University when you brought your platinum group there, where I'm a platinum partner of Singularity University. And what's interesting about why money is so important, I'm trying to find the quote here. There's one you have in here by John Chauvin, Stanford University professor, where he says it's not realistic to finance a 30 year old retirement with 30 years of work. You can't expect to put 10% of your income aside and then finance a retirement that's just as long. And if people are going to live longer, they have to have money that's in order, that's going to be there. And that's why it's so much more critical. Because with the abundance that is available and where science and where medicine and where all of this technology can take us, one thing that is incredibly critical to have along the way is your money in order because that will your.

You know what the number one fear is? Baby boomers. And it's a rightful fear. It's not death. Death is way down number two. But percentage wise, it's way down the list even though it's number two. Number one fear is running out of money while they're alive still. And they should be afraid because most of them are going to. One out of every three baby boomers has $1,000 to the name. It's insane. No one has taught them what to do and they think it's impossible to turn around. It's not impossible. They can still achieve financial security. Maybe not absolute freedom, but security. They don't have to become the best dressed, you know, reader at Walmart in their 70s. You don't want to. That's nothing wrong with Walmart, but that's probably not a job you want to do because you have to want to do because you'd want to if that's what you're going about. But I'll tell you something else too. The difference in our society, when we created Social Security, that was only the 1930s. Right. In the 1930s, you know, after the Depression, we had Social Security. Social Security was set up for 65 years old because the average person lived to 62 then. So it was for the outliers. And even the outliers only live four or five years. So it gave you a little money so you could continue to be okay, do with your grandkids, get your affairs in order before you passed. Well, now. And by then, we had 27 events. I'm not in the book. I'm probably. I think it's 27. Might be 22 people supporting one person's retirement today. We have three people supporting one person's retirement today. People are dying at 62 people. If you're 65 years old today, your life expectancy on average is 85. Most people today, that's the average. There will be people that live 30 years in retirement. Well, 30 years of retirement, you better have some money or it's going to be one brutal crime. And so now's the time to take control of that. And if you're young, that's going to take control of it. Just so you have a great quality of life today as well as in the future.

Yeah.

So powerful.

I mean, yeah, you write about that in the book where you even say Social Security was created under Franklin, you know, Roosevelt during the Great Depression, and he actually died at 63. So he didn't even, you know, have the benefit of what he, you know, enacted. But, yeah, you're absolutely right. People are living longer. And so if you don't pay attention to this, then you will perhaps regret it immensely. And there are consequences to that. But the great consequences are your life could be amazing. Now, Tony, can you keep going with some questions? Because I'd like to put it back there.

I got about 15 more minutes if you got it.

Okay, great, Robin, I'll let you go. I'm just gonna hold my questions because I got all these bright people on the line. We might as well have them do it. So, Robin Sharma.

Thanks, Joe. So, you know, Tony, like a lot of the wonderful people on the call, I love buying books for a lot of people. And just hearing you and having read your book, you know, money, master the game, you made me think of two people. My kids, you know, my son Colby, who's 20, and my daughter Bianca.

And to.

I'm going, going to give out a lot of your book, but the two first books I'll buy would be for them because just reading it and listening to you, you're going to save Them years of frustration, mistakes and confusion. And I want to thank you for that.

Thank you. You're welcome.

So you know, there's some financial influencers like Harry Dent, who I know you've interviewed for PowerTalk, Peter Schiff, who are predicting another Great Depression. And they're saying that's based on all the over leveraging as well as, as you mentioned, Nixon getting off the gold standard in 1973. And some are even saying we're going to get to a situation like what happened in Germany in 1921 when people were running around with wheelbarrow money and massive hyperinflation that led to collapses of economies and actually rioting in the streets. And I go right to your interview at the end of the book with John Bogle where you asked the question, should we be concerned about another financial crisis? And his words really spoke to me. He said, never lose your sense of history. Don't think it won't repeat itself. As Mark Twain says, history may not repeat itself, but it rhymes. So we do face the possibility of a serious world financial crisis and then John Bogle finishes up with even a world depression. You know, I'm curious, do you think that's going to happen, Tony? And also how can our many listeners protect themselves against this possibility?

Great question. It's something I've been obsessed about for years is why Harry Dent and I became such good friends and why I've studied a lot of people you're describing when I went to the wealthiest people in the world who have the most to lose in an environment like that. But we all have the most to lose percentage wise. But this is their entire obsession. You know, like Jack Mogul said, Tony, could there be a worldwide depression? He said, I'd say there's a one in ten chance. He said, it's not a one in a million chance, not one in a thousand chance. It's a one in ten chance. He said, but what I can tell you is all seasons, including depressions, don't last forever. And when you come out of it, it's a correction that happens. And then there's great times. And we all have to be willing to know that we have to be able to go through winter in order to have spring, summers and falls. We have these great rewards. And so what I think you need to do is be prepared for winter. And that doesn't mean live in fear. I've seen Harry's a dear friend of mine and Harry's very, very smart. But Harry's timing has been off lots of times. Everybody's timing is off lots of times. So you've missed out on a lot of opportunity. There are a lot of people in that field who will say this is where it's going to happen. I think what you really have to be able to do is you need to have a security bucket that says this is the part of my assets that I'm going to make sure I'm in good shape. They're not putting me at risk and they're putting me in a situation where over the long term I'm going to do well. If all broke loose, guess what? What you know about what would happen in depression so everybody understands is this idea of wheelbarrows. That one's highly unlikely to happen according to everybody I talked to you. And there's only one reason. It's not because we don't have ridiculous inflation. It's just that because of technology it can be done seamlessly. Meaning right now we've had the Fed put trillions of dollars into the marketplace and we should have seen. Everybody said we'd have inflation. Harry Dent said everybody. We have this massive inflation. Why didn't we? Because they put it in banks with ones and zeros nobody had to print out. You couldn't possibly print all that money. If you did, we would have wheelbarrows all over the place. So we have a unique way of hiding the excesses of the system. The other thing that's happened is the whole world is tied together. So certainly the world could have gone through challenging times. And I think we're going to face some winters. There's no question in my mind, we're going to face some winters. So here's what you do. You don't want to live obsessed with the downside. You don't want to live obsessed with freaking out. Because it's like in your life, if you've made all your decisions and you say, what's the worst that could happen? And you use that to make your decisions, you're not going to have much of a life because the worst that could happen rarely happens. But you base your whole life on that crazy. You'll never experience life at a high level. So what I look at is I say, okay, in a worst case scenario, I need to have a certain amount of money and assets and liquidity and ways of living. So for me, for example, I have my place in Fiji. I'm fortunate to have a whole resort and so forth. But I bought that place originally saying I want a place that if all hell broke loose in the world if it really did get crazy, if things got insane, some apocalyptic type environment, I could go with my family and friends and be in a magnificent environment that always has great weather, where I have natural resources all around me and I got great friends. So I made the investment saying in the worst case, I got what I just described. In my best case, I have the most beautiful place on earth to disappear to and I can share this with friends and family. And it's a business and it's the top resort in the country, so you can find your little getaway and you can have your getaway forms of cash and you can put a certain amount in gold or silver and you can study all the things people do. But what you do need to understand is in a depressionary time or deflationary time, which is all a depression is, what happens is money is worth more. We've already experienced this, See, people have already experienced massive deflation. In 2008, what happened to the price of your multimillion dollar home? Well, if it was in Vegas, if it was in Miami, if it was in Phoenix, Arizona, you know that it went down 40%, 50%, 60%. So what happened? A dollar was worth more than the asset. So if you hung on, if you had some real money, you had more buying power, you could get twice three times the house for less money than you would just a few years before. So deflationary times are not bad times. You know, if we really had a horrible depression and you've got some money set aside and you're smart and you manage your life, it'll be the greatest opportunity in your life because it'll reset the button. And then guess what? Everything will grow again. It has for thousand years of Roman history. It happens for all the modern day English history years that we know of between the US and Britain, the resets will bring something better every season. Every winter is followed by a spring, every night is followed by the day. Some nights are longer, some winters are longer, some springs are longer, but they come. So we're going to have winter going to happen. You want to be prepared for it by making sure you're taking a piece off the table. If you're a business owner, for example, can affect your business, you better have some cash, you better have some money, better have some ways to be able to balance your business. But I took all of my platinum partners out of groups that are just 300 people and I only let 150 come on a trip at a time. They got a lock in their trip when they go. And I Do four trips a year. We do four trips a year. I do two of them with them now. And I took them. I did a surprise trip with them in 2008 because working with Paul Tudor, I knew what was coming, right? Anybody at the top knew it was coming. A lot of people tried to deny it, but they knew the whole system was going to blow up. I said to Paul, I said, I got to go share this with my friends and family, and I got to put this on the Internet. He goes, you're not putting this on the Internet, Tony. It'll scare people. He said, you just can't do that. It won't work and I don't want you doing it. He said, this is private information. I said, well, what if I share it with my family? He said, your family? Yes. I said, well, I have kind of a big family. What do you mean? So I said, you know, I got these platinum partners. They make these donations. Helps support my foundation. I like to show them. He said, okay. So I got together five or six of the greatest experts in the world. And in March. No, March, April, April 1st of 2008, five months before the huge meltdown, I had everybody meet me in Dubai. I said, I want you to meet me in Dubai. It's a surprise session. Just meet me there. You're gonna have time of your life and you're gonna learn some stuff that's gonna be invaluable and priceless to your financial life. People came in, we stayed in a seven star hotel, which is really four star. They just got too many. Too many people serving you. But, you know, we skied. It was 110 degrees outside. We skied an indoor mountain. You know, it's just an amazing place. I brought them to Dubai because I wanted to see it. I showed them maps of Dubai from just 20 years before of desert. If you've been to Dubai, it's like Disneyland. It's like the most incredible place you've ever imagined. And it's the same distance from downtown Chicago to New York as it is from Dubai to downtown Iraq. And you'd never know. It's a different universe. So I said, look what's been created by somebody being resourceful because they're running out of oil. They had no resources, but they were resourceful. I need you to get resourceful as I tell you what's about to happen. And I brought in these experts and I said, the world as you know it, financially, is about to change completely. And people were shocked. People were angry, as if I was doing something to them. But after three or four days, they woke up and I made $2.7 million and the market lost.2 trillion people around me made a fortune. Because you can make more money when things are burning down faster than you can when they're building up. So if you really, truly understand what the opportunities are when things burn down, it'll be the greatest economic opportunity. Instead of going, oh, my God, the world's gonna come to the end. Oh, my God. We have been doing a drug of cocaine called monetary stimulus for decades and decades, and we've been giving ourselves this drug, and we're going to have to go through a detox at some point. We should have gone through a detox in 2008, but instead we just printed more money and gave people more drugs. I mean, if you give somebody a bottle of Viagra, they're going to get up, the market's going to rise. But you can only keep doing that so long. And at some point, you got to detox through your body and be able to respond again. We're going to have a financial detox. Nobody knows when, nobody knows how long, everybody knows it's coming. So what you want to do is you want to make as much as you can. You want to put aside as much as you can. You want to secure yourself as much as you can. You don't want to fear it. You want to look for the opportunity because you got cash, because cash will be king in that environment. And you want to be able to pick up things for pennies that you would maybe can't even imagine owning today.

I like it. That's a good answer. Great question, too.

Awesome.

Well, you know, let's. Mike, you got another one for Tony, because we're. We'll do some rapid fire ones.

You got it.

This one I think you can't answer faster. So in the first question, I asked you about investment advice for small business owners and entrepreneurs, and you talked about making sure that your business is a money machine to produce value. So this is actually linked to that. The way I want to frame this one is in the past when you and I have talked, I know you've said that you didn't enjoy the process of writing books. And this book is nearly 700 pages long. It's extremely dense, and it really feels like when I look through it, like you enjoyed writing it based on the tone of your voice in the book. So your excitement for the content really shows up in your interviews. Especially so in this age of online video and podcasts and social media and Billions of screens. Why did you write a book? So you know, why? What do you believe the power of a book is? And why do you feel writing a book is necessary and helpful for you in sharing this message? And for you just looking at it from a long term branding and marketing perspective, both to you and your company, and also if you look at, for a small business owner, entrepreneur, for engagement value and leads. Why a book, Tony? You've got other avenues and mediums you could have used just as well.

Well, you know, that's a great question because I've avoided like a plague that I enjoy sitting still doing this. I told you how much I enjoy the live reality aspect. When it's reality that is somebody in front of you, I can do something that doesn't work, I can change it. I'm gonna get to the outcome. I'm gonna serve that person when you don't know who's in front of you a little harder. So one of the ways I enjoyed writing this book was that I actually decided that I knew what was missing was an audience. So I got one. I wrote things and then I got people to sit in front of me and read it. And I got people in various economic levels and socioeconomic levels. I said, read this book to me. And I watched them like a hawk while they read the book. That's literally what I did. And I went, ah, they don't get it. Oh, that's overwhelming. Oh, they know what that term means. And I did that for why I think people who are reading the book are going, my God, this, you know, it's like my seminar is 50 hours in a weekend. You know, unleash the power within most of, you know, and nobody sits for a three hour movie that somebody spent 300 million on. And I get Oprah tells me I won't sit for, you know, two hours. Tony, I love you dearly, but that's the most I'll sit anywhere. Twelve hours later, she's standing in her chair going, this is one of the greatest experiences of my life in front of the camera. Right. So I know how to make time disappear. I just needed normally I have my voice and music and lots of other things to use. I felt hamstrung, so I took the hamstrung out by saying, read to me. And then I just said, okay, what do they need? What do you need? Like that teacher. Oh, I'm going to show our teacher that makes 4 million a year. Sure. Exactly how to do it. So that allowed me to enjoy writing the book, make the Book more passionate. Why write a book? I mean, you know, one TED talk. I mean, I've got one of the top 10 TED talks in the history of TED. You know, I've gotten what, 35, 40 million people, you know, between YouTube and TED and everybody else that's watched it. And it's like it took me 18 minutes to do so. It's like, you know, the beta ratio of reward there, getting your message out. But this subject deserves mastery. You're not going to master in writing a fricking blog. You know, we live, you know, we live in a culture where everybody wants, give me the Cliff note, give me the one thing. And you know what, if you do that, you're gonna, you're gonna have poverty, you're gonna have pain, because you might do well for a while. You're gonna be able to see if, make a lot of money, but you're gonna, you're gonna bite it like everybody does who doesn't master this topic. And I said, you know, I can make it simple, I can make it super entertaining, I can make it really interesting, but it really requires somebody going a step at a time. So I'll eventually put this into an audio video type of format as well. And in fact, I've created like a little gift for people who get the pre launch of this, of three little kind of fast track videos to create. Most people don't read, but I wanted something that you could get that was dirt cheap, that would be distributed all over the earth, and that, you know, for whatever. I think they're charging $28 for it. So I'm sure by the time it gets discounted, it'll be 20 bucks. For 20 bucks you could get what? Ray Dalio, you gotta have $5 billion to know before for 20 bucks you could have a plan that could take you from wherever you are to where you really want to be, which frankly I just wanted to deliver something that there was no barrier to entry. And I wanted to deliver something in a format where you could digest it at your own pace. And so my deal with people, they said, look, you can do a chapter a day. I mean, I'm a chapter a day on this. And in six weeks you got a new life. And it's, you know, we said 700 pages, you know, that's index and everything. It's about 610 pages. But it doesn't feel that way for people. They read it, especially if they chunk it. Now I'm the kind of guy, some of you listening would say, screw that shit. I'm not going to do this over six weeks. I'm going to take a long weekend and absorb this big baby, and I'm going to start to change my life. So it just depends on a person's personality. But I did it for that reason. As far as my brand, you know, a lot of people thought that I'm a. You know, if you haven't been to an event and you don't know the depth of what I do, they thought I was a motivator. And then over the decades, I started training therapists who thought I was evil because I had infomercials and made money. And now I've got every major school of psychology that endorses my work because, you know, who else has had 37 years and never lost a single out of thousands, not a single suicide. And we've got videos of the people and seeing them three years later. So I've got a whole discipline now that's been part of that area. On the business side, big businesses, because of people like Mark Benioff, who wrote the introduction to my book. You know Mark, his company, salesforce.com, he started right out of my Unleash the Power within seminar. He left Oracle, said, I'm going to build a company that's going to change the world because of you, Tony. He said, I'm going to apply everything you teach and I'm going to do $100 million. Well, now he does 5 billion a year. Forbes has selected him four years in a row as the most innovative company in the world, beating Apple for four straight years. Right. I mean, they're the apple of their industry. Extraordinary business. Extraordinary. Everybody in the book, he says, salesforce.com wouldn't exist without Tony Robbins. Everything in there comes from my strategies. And people think I'm a motivator. And it's the strategies. Some of you know, my RPM element, he called the D2 mommy just blatantly back. I can say this now because this won't go out till after tomorrow, but I'm on the COVID of Forbes. I actually got the COVID of Forbes, comes out tomorrow. And it's because of all the people that I influence in the financial world from a different level. It's like I'm helping to level the playing field. I'm democratizing these financial services. I bought companies like Hightower, which is the fifth largest registered investment advisory in the world. They have 30 billion in assets. And I've made them my partner in this process and bringing this information to the average person, taking what they only have ultra wealthy clients bringing ultra wealthy information to the average person. And I gave away all my interest in it to charity. To give you an idea, I could have made a fortune. I got a third of that business. So I'm democratizing that. I'm transforming businesses. And so Forbes decided that who on earth influences presidents of countries, presidents of some of the largest corporations in the world, and has got the ear of, you know, the top financial people on earth. And so, I mean, it's quite amazing to me, quite humbling, but I got the COVID Forbes, you know, and, you know, also I built my businesses. Most people have no clue. I've applied all that I've learned in business also. So now my businesses this year will do over 5 billion in revenues. You know, I remember when I was struggling not long ago with, you know, 100 million, 200 million, but they're all companies that I started or companies I started, become a partner in. So as a result of that, I've got some reach now. So that's part of why I can do a book like this and, you know, give away all the money of it and a lot more above it. It's part of why I can do the things I can do today. I wanted to just contribute something that I thought for decades would make a difference. And I wrote this book with the mindset of, I want to empower that business owner. I want to empower that mom that's struggling. I want to empower that millennial just got out of school. I want to empower that person who's very sophisticated. I want to empower that person who's a baby boomer saying what the hell to do. And I want to write this book so that the people that I've interviewed made money in every market in those down times you're worried about and in the good times. This is priceless knowledge that for decades can come about. I wrote a book when I was 24 called Unlimited Tower. I'm stopped every day by people go, I just read your book. It's so incredible. And I wrote that when I was 24. I'm 54. It was 30 years ago, and people are still being touched by it every day. This is a book that I'm hoping will touch people for at least another two decades or more. And that's why I did it. I think it's a way to reach a mass audience. I love when I'm in a car and somebody's driving me in a limo or something like that, and I hear about what's going on in their life. I'm always trying to help. I always. When there's something in their life outside of financial, I send them Ultimate Edge. I send them a book. But now I can send them something that if they will just follow these seven steps, I have no worries about their financial future. So I wrote it as something I could give to people as well, which is what I end up doing anyway. Giving it to everybody in terms of society in the long run. That's awesome.

Well, you know, here's what I would say for timing purposes. I just want to thank, thank you, Tony, for taking the time and I want to thank everyone that was on. We won't give Dean Jackson an opportunity.

Because we don't really.

We like him the least out of everyone that's that's on here. I'm kidding, Dean. I love you. What I will say, I just want to say a couple things you mentioned in the book that the average American household spends $1,000 a year on lotteries. That is just mind boggling to me. And there will be people that will listen to this and would be more apt if they listen at all. Most of the ones that need to hear it are the ones that usually don't. That would be more apt to go and spend money on the lottery ticket than spending. And the Kindle version of this is very cheap. The hardcover. You're going to spend $20 to 30 bucks for this book. And it's filled with just mastery documented and it's literally a roadmap. I think that everyone that heard this, if any of this resonated with you, first off, immediately get a copy of Tony's book, go and get it and get one for friends, get one for family, use it for holiday gifts. Because when you buy this book, you're not only going to get a trumpet, tremendous amount of direction, confidence, capability, as my good friend Dan Sullivan says, but you're also going to help feed people. So talk about that real quickly, Tony. Every book that you sell, you're going to. I want to reiterate that, that this is actually doing something more than just giving people a fantastic book.

Well, I've already written the check in advance. You're my partner in this. So it doesn't matter how many books we sell. If we sell a million books, it will affect 50 people and that's the average of what we do in an environment like this. If I only sold 100,000 books, I'm in total failure. It'll be 500,000 meals per book. So I'm committed either way, but on average, it'll be 50 meals. So my hope is when you read this book, it'll empower you so much and it'll open you up and you'll say, I want to do something for other people, too. And I show you in the back of the book a variety of places you can go to make a difference. My hope is that you'll pay it forward. That's really the purpose of this book. You do so well that you'll become a force for good in an economic level, just like you are in your emotional and personal life. Yeah.

And, you know, you have taught so many people over the years how to basically master the game of their life. And I've always thought a lot about when someone says, usually they come out of a bad relationship and they're not dating, as an example, and they're like, you know, I don't want to play games. I want to meet somebody that doesn't play games. And I've always thought that that was a really interesting statement because, frankly, the reality is people play games and it is a game. And you even call this book, you know, money Master the Game. And the fact is, people would play games all day long if they win. People love to win. What they do is they hate to lose. And there are people that are playing a game rigged to lose, and you actually teach them how to win the game.

Totally true.

Yeah. And so, you know, the fact is your money is going to be a critical aspect of everyone's life. I've not read a book in a decade that is more. More relevant information that I don't think is ever not, I don't think I know for a fact has never been compiled and delivered and set up this way. And the amount of work that you put into this is mind boggling for what you're delivering to people for. So just a fantastic book. And I really encourage everyone that has heard this to share this episode, this interview, wherever you heard it from on my podcast, or from Robin Sharma, who I want to very much thank for being on the call. JJ Virgin, Mike Koenigs and Dean Jackson, all of these individuals have great books, great training that will help you in all aspects of your life. But the reason we all came here today is to share Tony's message and his knowledge in this book with our clients, with the people that listen to us for advice. And we really want you to go out and get it and please give us your feedback. And I always think of a genius network as a network of the wisest people and you have the ultimate genius network of money masters here. In this book you went out and found the very best ones. And so any famous last words, what website should they go to? Anything else you want to say before we just let everyone go off and hopefully change their financial futures in amazing.

Ways, What I wanted to do is I really want to get the word out. So if this interview caught you and got you interested and you're really interested in the book, if you get it right away, I've got a limited number of them that I have bought for pre publication and I'd love it if you got the book and I'm willing to give you the book literally for just shipping and handling. The book sells for $28 by Simon Asuster when it comes out on November 18th. But before that happens, I'm putting these out for the people that are part of our network. So if you go to the address that we'll give you in a few moments here and you do it right away and before we run out, you can order the book, shipping handling is all we'll send it to you. I'll also send you three videos that are quick start video and I'll send you the first chapter in a digital form so you don't have to wait for the book. My goal is really simple. I want to add as much value to your life as I possibly can and if that grabs you, I'd really like you to share it. Would you go to Amazon and would you do a write up on what you expect experience reading that first chapter? You know, if you do some things on social media. My goal here, again I'm not making a dime on this book. I really just want to get the word out. I want to touch as many people as possible. So your help and partnership in that in the prelaunch area, if you're one of the listeners here, please take advantage of the offer and I'll make sure that we give you the right website. I'll have you announce that next because I don't know it, but if people go to that site they'll be able to take advantage of it. So thank you.

Okay, the website that we've set up for this is going to be www.gienius.tony. that will make it easy enough for people to find out exactly everything they need to do and get the book and get all of the bonuses that Tony's talking about here. So www.gieniusnetwork.com Tony and let me reiterate that this is not an affiliate link. None of us are making money here, certainly not me. We're doing this to help get this book into people's hands and we want to track it and we will report back to everyone the amount of meals that people are fed as a result of your contribution and getting this book and I think you'll be extraordinarily happy with it. And so not only get a copy of the book for yourself, please tell other people about this and really look forward to hearing your comments.

Perfect.

Awesome. Well again, thank you so much and I want to thank everyone and to to all the listeners share this message. This is really, really important and after all these years Tony Robbins is still surprising the hell out of people because he's always continuing to master his life and that should be a model on how everyone here can just perform at much higher level. So thank you Tony.

Thank you guys. Really appreciate all your time. Take. Sat.