The 5 REASONS Why 1% Of People SUCCEED & 99% FAIL | Tony Robbins & Lewis Howes

I feel like I've done a pretty good job of earning a lot of money over the last few years.

Yes.

Before, I never knew how to make money.

Yeah.

I was an athlete. I was trying to make it to the NFL. That was my only focus was playing sports. I never learned about how to make money. So when I was able to dive into this and really learn the ins and outs of making money, but actually allowing money to make money for you.

Exactly. Make money while you sleep.

Make money while you sleep. It was so interesting and I feel like I've done a good job of making money over the years, but There's so much more in here that I'm fascinated by.

It's interesting because I did the same thing. I come from a very poor background and we had no money for food at times, quite literally. And it was rough. So I wanted to make sure money wasn't an issue for my future family. So I figured out how to make money. And I figured when I was, I don't know, 23, I figured how to make a million dollars in a year. I went from 38,000 to a million. And you don't do that by some new strategy. It was a psychological shift as well as a strategy shift. But then I made the same amount of money for seven straight years, even though I built a dozen more companies, helped more people than ever. But it was like unconsciously, you want more than a million dollars? What are you, you know, you greedy? And I was actually staying, where was I? I was in Milwaukee, Wisconsin. I arrived at 2 o'clock in the morning on my birthday. I didn't have a private plane, so I had to go like four different connections from where I was. And I get in this place and it's a horrible place. And I call my kids and I'm talking to this woman on the phone named Maria who used to run my house I said, you know, Maria, I'm sorry it's so late, but I want to talk to my kids. Oh, happy birthday. She goes, this whole thing. And then she walks me to Mr. Robbins. She says, I never dreamed I'd live in a castle, because I have a place called the Galleria Castle. And I just want to thank you. I feel like a princess. She goes, last night I was sitting in a jacuzzi, looking out at the water and thinking, how lucky I am. And I'm in the Ramada Inn in those days. Looking at this moose head going, this woman is really rich. So I finally decided, listen, if I can make a $38,000 a million, it's not about money. It's like growth. So I want to make $3 million, but I want to make more of it while I sleep. But then I really began to realize it doesn't matter how much money you make, it's really your capacity to take your creativity and stop trading time for money. It's the worst trade in the world. Everybody's a financial trader. They don't realize they're a trader. They're trading time and you can't get more time. So this book is how to take anybody, an average person, a millennial just getting out of college with a bunch of debt and saying, how do I really make this work? Or a baby boomer saying, how do I still retire? And the way I did it was I said, I want to interview 50 of the most brilliant financial people in the world. Most people don't know that I I've been working with Paul Tudor Jones, one of the top 10 financial traders in history for 21 straight years and he hasn't lost money in one year in 21 years. We made money in the tech blow up that happened in 2000 and 9/11. In 2008 when the market was down 51% from top to bottom, he made 28% positive. Incredible. So every day, literally, he emails me, I monitor him, I come see him, I work with him and he pays me seven figures a year to be able to do this and I've been able to continually help him go to the next level. But quite frankly, I've learned more from him, I think, than I could ever teach him. And he helped me open these doors. So this book is the best from every self-made billionaire that I could find. Carl Icahn, I mean, I'm sitting down with this guy. He just made $2 billion in the last 18 months off a $30 million investment off Netflix. He sent an email or a tweet out about Apple saying it was undervalued. And two hours later, it was worth $17 billion more by a tweet. So the people I've got to hang with over the last three, four years, I've got a PhD in finance from the people controlling the world's finance. And what I've tried to do is the reason I did that is make it simple, bring it so I could train anybody else. Because in this business, what you don't know will hurt you financially. So I want to know how to.

Protect people and how to help people maximize. And that's the idea of the book. It's incredible.

And what I want to know is why we weren't taught these things growing up. Me too.

Tell me.

Right? So if you were, if they were.

Like, okay, Tony, we're giving you the key to the education system.

Yeah.

And how would you apply What teachings would you apply into about finances, learning about this, how to generate wealth as opposed to trading time for money, but really leveraging it and investing it the right way.

What would you start implementing? Well, the first thing you want to teach anybody, a child, a kid, anybody, is that you'll never earn your way to freedom. You just don't. You look around and you see, you know, Kurt Schilling, if you remember from Boston Red Sox, made $100 million a year, he's broke, bankrupt. I asked Warren Buffett, I said, what made you the wealthiest man in the world? And he smiled and he said, three things. He said, Living in America has great opportunities, having good genes, so I lived a long time. And he said, the last thing is compounded interest. And we all know about compound interest, but I give an example in the book of this guy, Theodore Johnson, worked for UPS, never made more than 14,000 in income in his entire life in a year. And in old age, he was worth $70 million. And how did he do it? All he did was he took a percentage of his income. His percentage was 20%. Now, his family said, you, can't. We can't save any money. But he met a friend who said, if you pretend there's a tax, and the tax just took the money away from you, and you never see it, the money just comes out of your account and goes into an investment account, you'll be financially free. So he was disciplined. He didn't look at it. It happened. $70 million by compounding. So people's mistake is, and kids don't know this, adults don't know this, that you won't earn your way there, but you can compound your way there.

What I wanted to do is say.

Where do you put that money? That's a trick, right? That's like a secret. Well, the first trick is actually doing almost nobody does. Right. The second trick is you really have to understand where you're gonna get hurt because...

The fees.

The fees are just destroy people.

You have a whole chapter about the fees. I was like, this is incredible. Isn't it wild?

It's nuts. I mean, there's so much money just on the fees. Well, it's just so people have an understanding. 96% of all mutual funds never match the market. I mean, they never beat the market. So I was just on a morning show this morning and Michael Bloomberg's one of his guys that has some of his money. So I'm, you know, this is the only industry I know of where People think they could be a doctor. They think they could be a financial planner. And I said to him, I said, well, look, the statistics, Warren Buffett taught me this. He said, Ray Dalio told me this. David Swensen, who took Yale from 1 billion to 24 billion in two decades, these are people telling me this. Nobody beats the market except a couple of unicorns that nobody has access to. And I said, I didn't say you're not one of them. But I said, here's the truth. 96% of mutual funds don't match the market. That means 4% succeed. Now, what are your chances of picking the right mutual fund? People don't know what they're doing. They put their money in a 401k. They pick a mutual fund, not knowing what it is. If you play blackjack and you and I play and you get two face cards and your inner idiot says, Hit me, I want to give you one chance in a million, you get an ace. You have an 8% chance of winning. If you try to get a mutual fund, you got the 4% chance of winning. So what I show people is not only do you not get the result, thinking logically, if I hire someone else to do it, they'll do better than me, but in addition, you pay around 2,000% more than it's worth. Meaning you get the same exact product, the same stocks, if you own the index, right? You own a piece of all of America's best companies, say the Vanguard 500 Index, 500 top companies. That costs 0.17%, like less than two-tenths of a percent versus the average mutual fund is 3.17.

Incredible. So talking about the idea.

But first, just hear that so you understand. It's like, the average car sold in America is a Honda Civic. $20,000. You can get the Honda Civic for 20,000 or you can pay 350,000. That's the difference between 0.17 and 317. But if you look at it over a period of like, how old are you?

31.

31. Okay. So let's assume you and a buddy is at 35, managed put aside 100 grand and you manage not to add any more money but to grow it at 7% in spite of ups and downs in the market. And you're 65. How much money do you have? Well, if you paid 1% in fees, over those 30 years, 100 grand became 574,000 bucks. Not bad for never adding another dime. If you had 3% of fees, had the same growth, but 3% in fees, you now have 324,000.

Almost half as much.

Quarter million dollars, 77% less money. And you have the same return. It was just the fees. So the world, most people you ask them, what are your fees? They have no clue. So I've created a site where people can go, they can type it in, you find exactly what your fees are and what you should be paying. And it just, It's Highway Robby. Where in the world would you pay 2,000% more for the same exact product? You can only do it because the financial industry makes things so opaque, so convoluted, and people feel overwhelmed. It's hard to understand.

Very hard to understand.

That's why I try to come in here and go, Look, time to become the chess player, not the chess piece. Let me teach you so you understand what's going on. It's not that complex. They use all these big words, but when you know what's going on, you don't get screwed. And more importantly, you take advantage of the system instead of letting the system Take it, ma'am.

With all the tools you've learned and that wealth of information over 39 years, almost four decades, strategies to break people through, to help them overcome their challenges, if you can only have, if you had to strip them all away, you can always use one strategy or one thing to use, what would that be?

I wouldn't. Part of why I'm effective is 'cause I don't buy that. I'm always looking for more strategy 'cause one strategy We'll work with one person, not with another. But philosophically, I would say that the capacity to strengthen and increase your hunger is the one common denominator amongst the most successful people. You know, Richard Branson's a good friend of mine, and Peter Guber, Steve Wynn, all these guys, they've never lost their hunger. Most people are hungry to achieve a certain amount, make a certain amount of money, and then they get comfortable and relax. to get a certain level of fitness and then they relax. But, you know, Richard is as driven today as when he was 16 years old starting. I mean, he's like on fire and he's 65 years old. Warren Buffett is 85 years old. He's as driven today as when, you know, he began the journey. Right. And so people that have that hunger, I believe intelligence. I love people that are wickedly smart, and I work to be wickedly smart by educating and training myself and so forth and. training my brain. But there's a lot of intelligent people can't fight their way out of a paper bag. Yeah, right. Absolutely. Hunger is the ultimate driver. Because if you're hungry, you can get the strategy, you can get the answer. If you can't model it, you can find it. So hunger modeling would be maybe the next best skill, knowing that success leaves clues. Like, why reinvent the wheel? If someone took this plane, was Mickey's plane who owns the Miami Heat, and owns Carnival, right? I mean, you can learn so much from the man like Mickey is, blow your mind what this man has been able to do in his life. And so why would I go learn by trial and error and maybe take 10 or 20 years when I could learn from somebody in a few weeks or a few months or a few hours something that could save me a decade? That's what it is. That's why I read 700 books in the first seven years. Because if somebody takes 10 years of their life, they pour into a book, and I can read that in an hour, two or three or four, Why wouldn't I?

So how does someone continue to stay hungry? Or re, you know, rediscover what they're hungry about?

The best way is get around where it's better and things will hit you. Say it again. Get around where it's better and things will hit you. Who you spend time with is who you become. So, you know, when I started coaching all these billionaires, you know, there's a part of me that said, I, you know, I was smart in certain areas as they are. I got to step my game up. It's not about the money. It's about How can I take the invisible and make it visible? How can I find a way to add more value to other people to such an extent where economics are not a question whatsoever? And then I can take those economics and do even more where I'm not there. I look at money as portable power. I can leverage my money to do things for people even when I sleep. Now, I love doing these for people and I work 18-20 hour days still, but it's really nice to have the leverage of that as well.

Sure, sure. In a few sentences, what would you say is your current vision for life. What's the vision you have and what's the legacy that you want to leave behind?

I saw, have you seen Hamilton the play in New York? I hear it's incredible.

Everyone's raving about it.

You've seen it, right, Nick? Yeah, it's amazing. Isn't it extraordinary? It's amazing, man. Yeah, I loved it. I thought it was a lot, might be a lot of hype, but it was as good as the promise. Really? There's a line in Hamilton that I thought was really interesting. It says, Legacy is planting seeds in.

A garden that you'll never see.

I thought it was really interesting. But so for me, I know... -What's.

The garden you want to create you'll never see?

-Yeah. For me, it's human lives. For me, it's, I love, my life is about being a blessing in the lives of the people I meet. I hope that whoever decides to watch your video, I hope something here will strike them and they can say, you know, I got to get in proximity or I got to raise my standard or I'm going to go master my damn money, I'm not going to dabble. I hope that it stimulates someone in a way where it becomes a blessing in their life. and my legacy is the lives that I've touched and my legacy is the institutions that I'm building right now that when I'm gone will continue to touch people. My foundation, the work that I'm doing with mentoring with kids, I mean the ability to touch another generation. But my heartfelt prayer every day is be a blessing. And you know it's interesting, sometimes you're a blessing just by giving somebody a few moments just by loving on them, just being with them. Sometimes you're being a blessing because you coach them or you intervene with them. you can be a blessing in so many ways, but that's my daily focus and it's not what I'm gonna build for the long term, it's really what am I gonna do right now?

Why is that? Why do you wanna create that legacy?

Again, it's less about legacy than it is about doing what I'm made for while I'm here and maximizing. I want the end to have me, I wanna be climbing the mountain when I die, not sliding. So to me, it's about growth and it's about giving. Those are the only things that fulfill human beings. I always tell people, If you want to be happy, it's one word: progress. If you can make progress, and if your progress is not only within yourself, but it's actually doing something of value for more than yourself, you're going to be a damn fulfilled person.

How do you stay grounded in your personal and intimate relationships when everyone wants a piece of you? You sell out events, 10, 20, 30,000 people come to your conferences, pay tens of thousands of dollars, everyone wants to interview you, You're coaching presidents, billionaires, world-class athletes. They call you, they want you to help them break through the next level. How do you stay grounded in your marriage or with your kids or with, you know, friends?

My mom's craziness gave me a great gift. I wanted to be a professional athlete and I wanted to be a professional baseball player. And when I got cut from the junior high school team, I figured out I'm in trouble. So I decided to become a sportscaster and a sports writer. and so I took typing when I was in junior high school. I was the only boy in an all-girl shorthand class so I could capture everything because I wanted to be the best reporter, best sportscaster. I interviewed Howard Cosell and Woody Hayes and Dodgers and Rams. I got a job working for a daily newspaper when I was 13. And then I got this huge break, which was I got these interviews. No one had, like Joe Namath when he was so famous. I got these interviews and here in LA, KTTV Channel 11, it's now a Fox Channel. they were trying to get viewership and so they kept trying different kinds of sportscasters. They even tried Fanny Fox the stripper and somebody watched some interviews I did and went holy shit this 14 year old kid, I was about to be 15, he's brilliant and he's getting interviews nobody else is getting, you know? So they called me up and they offered me the job to be the nightly sportscaster as I was turning 15. And I was out of my mind like the dream I was gonna have when I was like 25 or 30 was happening, you know, I'm gonna be 15. And my mom said to me, your ego's too big, and if I let you do this, you're gonna even get bigger. And she not only would not let me take the job, she made me quit my job working for the Progress Bulletin, which was a daily newspaper in Pomona, California, doing sports. And I hated her, and I was devastated, but it created a sensitivity inside of me that that along with, I think, watching athletes who would not sign a card for a kid because they were making money selling cards, would make me so angry that I said, I'm never going to be one of those people. And so I'm not. You know, I certainly have plenty of pride in what I've been able to accomplish and people I've been able to help, but I always know I'm just a guy. And while I've worked my ass off, I've also had grace in my life, you know, and it. I think when you achieve things, it comes from incredible obsessive focus, massive action and figuring out. how to execute and do things effectively and it's grace. And I never forget that that's a part of the formula for where my life is today.

Do you think people need a little bit of ego to have that kind of drive and insanity or obsession? Or is it more just belief and a bigger vision?

I think, you know, ego can produce drive, but that kind of ego will make you not be fulfilled. And we all have it until we get a few hammers. Because in the beginning, when you're young, especially a young man, I think even more so than a woman, you know, you're trying to find yourself, you're trying to prove yourself to the world, and really you're trying to prove it to yourself. Like in the very beginning for me, I used to attack psychiatrists and psychologists because I care about people so much, and because I learned how to handle them in an hour, and they're working with someone for seven years, and I would just go crazy. But I was also attacking them because I was also defensive, because I didn't have a degree. And so I figured, I'm gonna be on the offense, I'm gonna show them, But as I grew up, I realized, holy shit, these people care just as much as I do. Now I've trained 100,000 therapists around the world with my partner, Chloe Madanes. We make films of people's lives, like suicidal people, people who've been through hell, and you get to watch how I do it as I do it, and then you get to see them two years later to know it really worked.

Do you ever question choices of decisions you make today? And does everything you touch turn into what you want it to be?

No, of course not. No. Failure is part of life. The difference for me though is I look at failure as a stepping stone to success. It's a speed bump. I know I'm gonna fail, but it's not failure if you learn something. And so, gosh, I've made so many mistakes. I've screwed so many things up, but every time I do, it just becomes a way for me to explain to someone else what it takes. It's like, here's what I've done. I think I have The ability to influence people because I talk about my failures. I talk about all the things that messed me up, but I show people that I didn't let it stop me and you don't need to stop you.

And I think that's really the secret matter. And if everything you touch was successful.

You'Re not going to relate to people as much. No, you'll be relate and also it's be total bullshit. And everyone knows it's bullshit. And also you'd be bored silly. I mean, think about it. If you just said, I want this to happen, I want this to happen, you know, people don't value what they don't fight for. you know, it's like you see kids sometimes in it, you know, your parents will say, you're not gonna value this if you don't work for it. And your kid will be going, oh, value it. Just give it to me. Right. But it's true, you know, the things we've worked the hardest for, we value the most. So I think, you know, the purpose of a goal is not getting it anyway. The purpose of goal, you know, is what? Who you become, who you becomes going to make you happier. It's going to make you sad. So I'm not looking for an effortless approach.

There's no such thing. Now, I'm curious about relationships and building wealth. Is it important to, or how important is it to have the right partner in a marriage or an intimate relationship relating to building wealth? Does it matter who you choose, their mindsets? Does any of that play an effect in how much you're gonna make or?

It won't affect how much you make, but it'll affect your relationship a lot, right? You know, getting on the same page is really, really important. But when my wife and I met, my wife, we both grew up very poor. But I decided that I was gonna find a way to add so much value that money would never be a question for my family. And it would never stop me from giving or doing or sharing anything. And I made that decision early on. So I became an earner, ways of earning. She became a negotiator, a cost manager. Her mom's number one thing is somebody comes in, she goes, sharpen your pencil. That's not a good enough deal. And so when we first met, I remember we were, We were in New York City and this dates me how old I am, but I remember when they first came out with digital cameras, the very first digital cameras from Sony. And it was like such a cool thing. You could take 12 pictures or whatever it was in those days. But we were down in New York City, we're in Times Square and we went into one of those camera shops and it was Christmas time and I saw the camera and I was like so excited about this camera and I said, you know what? I'm gonna get one for my brother, my sister, my mom and you know, I came up with, I don't know, it was like 12 cameras and they were very expensive then. I think you were like, $1,200 or $2,000 each. They were really crazy. Now they're like 200 for the same. Yeah, I know, not even, it's a million times better. But I went to the counter and the guy goes, oh my God, Tony Robbins, can I take a picture with you? I'll put it on the wall inside. I said, Sure. And she goes, Hey, she goes, show up in your pencil. What kind of deal are you gonna get my boyfriend here? And I wanted to grab her by the throat and just go, what are you doing here? It's like, what are you doing? And she's like, no, no, what's the deal here? And he goes, oh, well, I give you 10% off. She goes, sharpen your pencil, 10%. You're not taking a picture of my boyfriend and I'm wanting to murder her, right? And I was so mad. I mean, I was so mad. And so she got like 15% off and free camera cases and all this stuff. And I'm shaking my head. We left. I was like, I'm so, we have this big fight. Today, I just call her squeaky. She's my squeaky girl. She wants to go to Walmart as if we'd ever need to go to Walmart, you know? And what I do is I'm delighted by the difference. And I go, you know what? What a beautiful gift. I've been in relationships before where I gave everything and people were totally unconscious with money. So to answer your question, it's nice to be on the same page, but you know, one day I told my wife I was coaching someone and the person gave me a quarter of a million dollar bonus. I don't care who you are, it's mind boggling. He was like, he didn't have to, it wasn't part of the deal. He pays me a million dollars a year plus a piece of the upside. And he said, Tony, you did so much for me, I just want to give you this additional quarter million dollar bonus. And it wasn't the money, it was the generosity that just knocked me off my seat. And so I called my wife and I said, honey, Paul just gave me a quarter million dollar bonus. I mean, he's like, he's so generous. And she goes, oh, that's nice, honey. Hey, do you know what I'm making for lunch? And I'm like, wow. So I used to get upset about that. Now I'm like, that's my squeaky little girls. I'm thrilled she doesn't have to think about it. I'm in charge. And so I don't think your partner has to.

One of you has to master it.

And you have to have some alignment.

Okay.

Right.

But you don't want them to be against you, essentially.

Well, sometimes they're gonna be. We were against each other in some ways. We're having fights. But what you eventually decide is, do I want to be right or do I want to be in love? There you go. I'd rather be in love personally, right? That's a good quote. And then also I just said to her, I said, Listen, honey, I understand your intent. I had to go to her intent. Instead of being frustrated with her, saying, this is really actually a cool quality. and she's my opposite in that area. And we're a good balance together.

Now, I want to ask you how you personally handle a breakdown. I've been to your workshop and incredible experience.

Thank you.

And you teach people how to overcome their fears and how to handle breakdowns, but how do you personally deal with it? And do you even have any breakdowns?

Yeah, they sent me a list of questions you had just to kind of give me that was one of the questions. I was like, you know, it's interesting. It's breakdowns. It's certainly not something I experience. It's not because I'm so talented or so brilliant or so fearless. It's just you're like an athlete. You're an athlete. You're in shape. You're not going to have a reaction in your body like somebody who doesn't take care of themselves. So, you know, I believe, I don't believe in emotional intelligence. I think it's useful, but I'm more interested in emotional fitness because intelligence is a capability. Fitness is a state of readiness. If you are fit, you can take that demand right now and you can deal with it. You can deal with that physical stress, that emotional stress. Same thing is true with psychological fitness, emotional fitness, right? So I'm pretty fit. And part of that is not because I'm so smart. Part of it is I've taught this for decades. I remember I had a woman who came to one of my seminars in, I don't know, early 80s probably, and she would run in this room, five, 10,000 people, I think it was, you know, she went a couple of 10,000 person events, and she would get in this front row, fight her way through there. And she'd jump and go for it. And one break she came up to me and I was signing a book for her and she says, Mr. Robbins, I've seen you at like eight of these. I've seen you like when you're really, I know I can hear your voice, you're hurting or you haven't slept. And she goes, you, always seem to.

Be so up all the time.

How come you're so up? And I said, well, part of it is I attend all these seminars. So I'm teaching it. So there's a fitness of that. But there's also, you know, I've buried three fathers and one mother and you know, that affects your life. I've had a physician look me in the eye and say, you have a tumor in your brain. And so I've had those moments that when you've had extreme stress and you push your way through it, you build psychological muscle. It's like it takes a lot to knock me off. You know, in the early days, we didn't have $50,000 to keep the doors open. How do we do it? Then I graduated to $5 million. I graduated to a partner that mine kind of didn't do things well and I ended up owning $100 million because I had to take on his debts.

$100 million.

And but when you do all that stuff, you know, now my companies do five billion, you know, a year. So you keep expanding what I would call really the circle of your, the threshold of your influence. Sure. You know, everybody has a threshold of control. And if you get beyond it, you kind of freak out. So it takes a little bit more.

I don't have breakdowns.

I don't have a breakdown. Do I get pissed off or get frustrated or tired? Yeah. Breakdown?

Honestly, no. So how do you handle if you.

Get tired of something? I sleep when I can. Okay, cool. I mean, it's honest, it's pretty simple. But you know, when I've had challenging times, I mean, I have so many tools. Yeah. It doesn't happen. I pull them out. And mostly, it's so it's like you as an athlete, you know, you don't just physically break down. Right. Now you take care of yourself. So, you're constantly training that. I think most people don't train their mind and emotions. It's like, I think the most powerful muscles to me are not physical. as strong as important as they are. It's like faith is a muscle, courage is a muscle, determination is a muscle, playfulness is a muscle. Passion unexpressed weakens. Faith untested gets smaller. So I call it deep practice. I always pushing myself to the edge and pushing yourself to the edge makes you stronger.

In the book, I was really excited to hear you talk about what you say the secret to wealth is gratitude. Somewhere in the book, that. I think maybe it was someone else you were referencing. Yes, it came from Sir John Templeton. And every day I practice gratitude. When I wake up and every night, I always try to say to my girlfriend or someone I'm talking to before I go to sleep, three things I'm most grateful for. That's great. Now, why, so I was pleased to see that.

I was like, I'm on the right track if I'm living in gratitude, but why is that the secret to wealth? Well, Sir John Templeton is probably one of the greatest investors in history. People don't know his name. He started out with nothing. he wasn't Sir, he wasn't from another country, he came from the US. And he decided that he wanted to understand wealth. And so he saved $10,000, a huge amount of money in those days. And when Hitler invaded Poland, he developed a belief. His belief was, you make your money in times of maximum pessimism. Like if you were around in 2008-9, you remember what it was like, right? You could have bought the Sands in Las Vegas. You could have bought their stock for $2.28. Today it's $67. It's a 3,000% return. Not bad. You could have bought Citibank for less than a buck. Mm. Right? So people in those times, he understood that. And so what he did was, and everybody thought the world was gonna end, he took $10,000. He bought every stock on the New York Stock Exchange that was a dollar or less, including companies everybody thought were going bankrupt. But when things are bad, people think it's gonna be bad forever. When things are good, they think it's gonna be good forever. And they're always wrong. Life's cyclical. So there's a season for everything. So once we got through World War II and a few years later, guess what? Those same stocks made him a billionaire. So when I asked him, I said, what's the secret to wealth? His response was, you know it, you teach it. I said, what's that? He said, gratitude. And I said, why do you say that? He said, because if you got a billion dollars and every day you live pissed off and frustrated, the quality of your life is called pissed off and frustrated. But if you have nothing, but you're euphorically grateful for whatever you have, you're the richest person that you're going to know. He said, so it doesn't matter how much money you got if you don't have gratitude. So I do the same thing, by the way. I have a process I call priming where I get up every morning, I do mine in the morning. I do this radical change to my body, kind of alter my state. And then I do 10 minutes, I never miss. And my first three and a half minutes is what I'm really grateful for. And I make myself think of at least one of those three that's something really simplistic, instead of something giant, you know, the wind on my face, the look in one of my kids eyes, you know, something of that nature. And then I do three minutes of, Strengthening the healing and I do three minutes of one. I'm gonna create my world. I do that for a minimum of 10 minutes every day because I believe.

You have to condition it.

You don't just hope that stuff shows up.

You set your intention each morning. -But I do that every day.

-Yeah. So, what are you most grateful for recently in your life? -So many things. Well, it's Thanksgiving. So, one piece. Well, one is my daughter is 40 years old and she's been my child.

Forever and she's gonna bring me a grandson.

Wow.

Congratulations. Thank you very much.

That's cool. But also it's Thanksgiving. So for me, it's a very emotional time because my family was fed when I was 11. We had no food at Thanksgiving. And it touched me so deeply and I decided I was going to get back. So when I was 17, I fed two families and then four and then eight. And then I didn't tell me I was doing it. And then I got my friends to do it and my companies grew. And, you know, I've fed 42 million people now over 37 years. And, but you have a challenge for this, right? 100 million. Well, this one, what I did is I decided, you know, I'm writing this this book, and in the middle of writing it, last summer, most people didn't even notice. Congress cut food stamps. They don't call them food stamps anymore, but I lived on them, so I know what they are. Food stamps with my family. Family lived on them. But they cut it by 8.7 billion, which means you eliminate 2 million people from the rolls overnight, and they still need to eat. So I support all these nonprofit organizations, and Feeding America is the largest in the country. And so I thought, I want to call attention to this. So if I donated all the profits of this book in advance, how many people can I because I normally feed 2 million through my foundation and I match it. So I feed 4 million a year. And they said, you can feed 10 million people. I was like, wow. I mean, and then as the years gone by, I've gotten more and more inspired. And so now I'm going to feed 50 million people personally. Not just from the book, I'm writing a larger check on top of it. But also, I'm working with Feeding America to get matching funds to feed 100 million people. Incredible. So to go from my family not being able to eat to feeding 100 million to people is a pretty amazing sense of gratitude and a sense of grace. And I've done my part, but there's been grace in that as well.

That's amazing. It's incredible what you're doing and very inspiring.

So, thank you for doing that. So, anybody gets a book, you're feeding families.

It's for you.

But it also feed on the average 50 families.

100% is being done. Not only 100%, more than that. That's amazing. Now, I think I also read in the book, I don't know if you said this or someone else said this, but the key to living is giving.

-Yes.

-Now, I think I might have heard you say this actually back when I first saw you when I was 16 at an event. And I remember thinking, I don't have anything to give. I don't have any money. How am I supposed to invest my money? 10-20% every month. And then how can I give on top of that? But I really understood that it's so valuable and important to give. And I work with a lot of non-profits myself, building schools for kids around the world. And I've seen a big impact in my life, the way I'm able to serve people.

Sir John Templeton told me that he's never seen anyone tithe, which you know tithe is usually 10% of what you earn for at least a decade who didn't become incredibly financially free. And I think the reason is I had a moment like when my whole life changed. It was kind of twofold. I was really young like yourself back then, right? Working my tail off trying to build a business. I mean, you have big goals, you know, you don't always succeed to start with. They just come together, right? You know, it was hard. And I remember I was so frustrated because I was working 18 hour days and nothing was working and I was broke and I felt embarrassed, you know, I should be doing better than this. And so I was driving home from Orange County on the 57 freeway in San Gabriel Valley out near a place in Pomona, California. It probably doesn't know anybody else, but I remember so vividly because it was almost midnight and I was at this breaking point and then I was like, why am I not doing better? And then I just pulled over the road and I used to keep these journals, I still have them, written journals. And I wrote in big lines, the secret to living is giving. And I started to cry. And I realized I am so focused on what am I not getting, I'm not focusing on what I'm giving. So for six months, man, it turned me around. But then, something else to get in your body, it was in my head, it was in my heart, but I had to get in there to stay. And I started going through some really tough times and I lost everything financially. And I was mad at everybody because, like, I loaned a friend a thousand bucks and, you know, I had them doing well. And he didn't even return my phone call. And what changed me was I. I was down to, I don't know, 22, 23 bucks, something like that. I don't know. It was 24 dollars. Enough that I knew that I didn't have money for food for the next week, clearly. And I didn't have any prospects. And I was living in Venice in this four-square of a bachelor apartment, feeling sorry for myself, and I thought, you know what? I gotta eat. So I'm not gonna drive my car, 'cause I'm not gonna spend the gas. I'm not gonna pay for parking. I'm gonna go to an all-you-can-eat place and load up for the winter, right? So I can get more, like, one meal a day. And so there's a place called Marina Del Rey, not far from Venice. And it's a beautiful community, and it's right on the water. And there's a place called El Torito. It's still there. It's a little restaurant. It had taco bar and all that kind of stuff. So I walked there for the three miles, and I go, I'm gonna go on and load up. And I was all about myself. getting through this. And this little. Well, this woman walked the door, actually, very attractive lady. That's probably why I caught my attention. And I'm waiting to see who her boyfriend is. And there's nobody up there. There's a little guy down here. It was obviously her son. And he's wearing this three-piece suit, you know, a little vest. He opens the door for her. He pulls out the chair for her. And it was just. He stared to his mother's eyes. I mean, it was just pierced into her eyes. I don't know what it was, but something about him was just so moving. It was such a. sweet, caring, loving young man. It was mother that moved me. So I paid for my meal. I don't know, it was left 17, 18 bucks. Put it back in my pocket, was left. Walked up this young man, introduced myself, and I said, hi, I don't remember his name. I think he said his name was Ronnie. And I said, Ronnie, I said, you,'re really, I said, you,'re a class act. I saw how you opened the door for your lady. I saw how you held out the chair for your lady. He goes, she's my mom. I said, that's even more classy. And I said, so cool that you're taking her out to lunch like this? And he goes, well, I'm not really taking her out to lunch because I'm just 11 and I don't have a job, you know? I said, yes, you are. And I had no plan. I literally just reached in my pocket, took all the money I had, changed dollar bills, and threw it right there in front of him. He looked at me like this. He goes, I can't take that. I said, sure you can. He said, well, why? I said, because I'm bigger than you are. And he got this big grin on his face, his eyes got this big, and I didn't, I just shook his hand. I didn't even look at this, his mom, and I just walked out the door. Reason I tell you the story is I had no car, I had no money. I did not, I was euphoric. I was like flying home. I was like, you know, I probably looked like an idiot probably skipping or something. I was just, and what I felt was, I should have been like, what the hell did you just do? I have no meal or are we going to eat? I went home that night, I laid out a plan. And the plan was going to take me, you know, 10 days, two weeks. So I thought, well, people fast for a week. I could fast for a week, you know, that type of thing. And I was in this great mindset about it. I woke up the next morning and I get the old regular snail mail shows up. And it's this guy called a zillion times. He wouldn't return my call. I open it up, there's a check, thousand bucks, plus interest and an apology. So I'm sitting there and I started to cry, honestly, and I was just like, why did this happen? And I don't know if it's true, but I decided that day this happened because I did the right thing. Because I didn't have a plan, it wasn't a strategy. I just felt this little soul beside me. I knew it was right and I did it. And I didn't do it because I thought I could or I couldn't. I didn't even think about it. And that's the day I became a wealthy man. Because I didn't have any money. But scarcity left my body. And I have plenty of ups and downs since that time and various times in my life. But I never went back to that, oh my God, you know, how's it gonna happen? It's like breathing. Do you stop and say, God, is there gonna be the air before you take a breath? You know it's gonna be there. You don't run your life by that aspect. And so that to me is what it's about is showing people, if you won't give a dime out of a dollar, don't bullshit yourself. You'll never give a million out of 10 million or 10 million out of 100 million. It's not going to happen. But if you can do that now, you don't ever get beyond scarcity. You start behind it.

You make a decision to get beyond it. So how does someone, you know, when they're living in scarcity, they're living in fear, and it's like this emotional feeling. It's in your body, like you say, when you're like, I can't even pay for my meal. How am I going to start giving? what are some things that people can do to start overcoming that mindset or start strengthening it or shifting it? I'll tell you what I did when.

I was first on my own. I got my dad, my mom kicked my dad out when I was 17. She's very powerful woman. I have four fathers, so they all learned how to get the boot. She thought I was at his side, so she kicked me out next. I was 17. She chased me out with a knife. She wouldn't have hurt me, but I wasn't going back in the room. And that's how I figured out what to do. And I didn't play stay and I had to stay in somebody's laundry room for a while and I started reading and feeding my mind and then I developed this little system and the system is really simple and I tell people now as I say, number one, every single day, you got to feed and strengthen your mind. Until you do that, you're always going to be in fear because fear is automatic. The human brain is designed for survival. It's not designed for success. Your brain is not designed to make you happy. That's your job. The only way you're going to do it is if you feed your mind because otherwise, weeds grow automatically. My coach, my mentor, Jim Rohn, used to tell me, he said, Tony, every day you gotta stand guard at the door of your mind. You gotta watch what's going in, because if you're not careful, stuff will go in. He said, not all the times is it somebody who cares about you. He said, you know, if your family, if your worst enemy puts sugar in your coffee, he said, what happens? I said, you got sweet coffee. He said, well, your best friend by accident or your family, don't mean to, they drop one drop of strychnine in your coffee, you're dead. He said, so life, sugar, and strychnine, a watch of coffee. Right, right. So every day I decided, I'm old enough, honestly there was no internet those days and pretty ancient, I used to go to the library because it was the only place you go and I would read biographies, I'd read people's lives and it would make me go, wait a second, as bad as I think it is, the greatest people in the world had it worse. So there's something here. So you feed your mind. Jim Rohn, you say to me, skip a meal but don't skip reading. He said, read 30 minutes a day, I don't give a damn what it is. Today, I don't mean internet crap, I mean read something that a biography, read something that's a strategy, read something that's going to change your life. And the second thing I tell people is feeding your mind is great, but you've got to also strengthen your body. And you do that as an athlete naturally. I learned to do that because fear is physical, right? You know where you feel it. And if you go work out, if you go lift, if you go run, even if you're out of shape, you just go for an intense walk. That experience alone changes your life. Every day in my life, the first thing I do before I do my priming, if I'm in one of my homes, I jump in some hot water for fun and then I jump in freezing water. And I have a river in one of my homes in Sun Valley and I've got cold plunges everywhere else. So I go in 57 degree water and boom. And what it does is like it's teaching my brain. I tell my brain what to do and it does it. It doesn't feel like it doesn't want to do it and every cell in your body is alive. So it doesn't have to be like two hours worth of something. It could be something you do for 30 seconds but it's training your body to be strong because strong body gets strong mind and vice versa. Yeah. The third thing I tell people is find a role model. You know, it seems impossible till you see somebody's done it. So, you know, Ray Dalio is one of the greatest investors in history. The guy was a caddy, right? You know, his dad was a jazz musician. His mom was a homemaker. You know, he's worth 14 billion dollars. He found someone to Mentor him. He found, well, he found multiple people to model. Right, right. You don't always find a mentor, but you find somebody you can model. And when you start seeing that if somebody else can do it and you see they really did, you start to believe, you start to get certainty. And then the fourth thing I tell people is it's massive action and constantly change your approach and then it's find somebody worse off than you are and help them. Because when you do that, it gets you out of yourself. And that's what I really have people do. That's what we do at Thanksgiving. We have our basket brigade where two million people get fed. Amazing. Not the one I do, the one that I get people to do. And it's amazing people go in there and they see, my God, I thought my life was tough.

But look at this person's life.

It makes you appreciative. It puts life in perspective.

But I wanted to ask first what the difference is between someone who is financially rich and someone who is financially poor. What's the difference?

There's lots of differences, but I'd say the first one is someone who is financially rich is an owner. They're not a consumer. They're a consumer also. But when somebody is poor, they're a consumer. All they do is they take I always tell people, we're all financial traders. I'm not a financial trader. Yes, you are. You're trading time for money. That's the worst trade you can ever make in your life. Somebody who's wealthy has made money their slave. They're no longer the slave to money. And the way they do that is they figured out how to become an owner. And the way you do that in the most simplistic way, I even taught it in my first book, was you have to decide there's a percentage of money that you're going to keep forever. You're not going to give it to Kate Spade. or Ferrari or anybody else, you can do that too. But there's a percentage of that income that never will be touched, that you will grow and compound and will provide income for the rest of your life so you don't have to work. Now, when I was growing up, everybody's goal was get rich enough so you never have to work. Now, like all my friends are 15, 18, 19 years my senior. People like Steve Wynn and most of Las Vegas, he's like 74. Warren Buffett's 85. Peter Guber, one of my dearest friends, the world owns the Golden State Warriors, the LA Dodgers, we're partners in the LAFC football team. in LA, brilliant guy, 74 years old, and they're all working harder now than they ever were, and they don't have to work. So the goal is make enough money so you don't have to work, and then you'll do what you love, and you'll pour your time and energy into it. But you have to make that decision. It's the first, most important decision is I'm going to become an owner of American business. You don't want to have an Apple phone and not own Apple. And you don't want to just own Apple, because any company can go up and down. You want to own the index. You want to own a variety with enough diversification. But if you can just shift, and I've taught people who've told me they have no money, they can't save, it's really easy once you get momentum. There's a research project I did with a gentleman who was nominated for the Nobel Prize on behavioral finance. And what he did was he said, if you can even, you need to save 15% ideally. But if you could even save 3%, because anybody can do that. They took a group of blue collar workers in the Midwest and said, we're going to force you to save 3%. I think it was three and a quarter or three and a half. But then we're, everybody can go on a diet tomorrow. Everybody can save money tomorrow. Right. So his tool was, all right, you're not going to save today, you're going to save tomorrow. We'll do the three and a half percent. But then you go to your employer and say, the next time I get a raise, the first five percent goes to my savings account, to my investing account. And then every time you get a raise, you do that. Well, in 14 years, the average person was saving 15% and the top 40% were saving 20. Let me explain what that means. You and I were together before, when I'm trying to explain compounding to people, everybody understands it intellectually. But when I ask some of the richest people in the world, what are most investors failing to do? And they all say they're not tapping the power of compounding. So if you're in a situation where, as an example, let's take you've got $100,000 that you've saved, you're 35 years old, and you put it in the market and just leave it there and never add anything to it. If you leave it in the market and you're only being charged 1% in fees at retirement 35 years later, you got 762,000 from that 100. Never added a dime. They grew that much. But if you pay 3% in fees, which is the average most people are paying, when you ask people where they're paying, they don't know or they say 1%. Because when you hear about fees, let's say a mutual fund fee, you'll always hear 1%. That's the expense ratio. There are 17 other fees. So every 1% you overpay, you know, 1% is the average. But if you pay two or three and the average mutual fund is 3.12, it sounds like nothing, 1% or 2%. But every 1% you overpay because of compounding means you lose a decade of income. So the person who paid 1% has 762,000. The person who paid 3% has $452,000 and they own the same stocks. It's just fees. So while we compound our interest, we also compound fees. So if you could save 3% and build it to 5, 10, 15, or you start with 10 or 15 and eventually get to 20, the best example I can give your viewers is that there's a gentleman who worked for UPS who literally never made more than $14,000 a year. You heard about him in the book. And when he retired, he had $70 million. And he gave away $35 million while he was alive. And the reason was A friend of his set him aside and said, Look, I'm gonna make you rich. He goes, I'm never gonna be rich. I make 14 grand a year. He goes, I'm gonna make you rich. I'm gonna make you rich later in life, and I'm gonna do it by getting a 20% tax to your business. And he goes, I make 14,000 a year. I can't live on 20% less. And his friend said to him, if the IRS came and said a 20% more tax, you'd scream you'd yell and you'd pay it. And he said, We're gonna pay it for you. And that 20% compounded generated $70 million. So for the people that are at home, The sooner you start, the better off you are because compounding does it. I've got an example in the book of a guy that starts at 19. He puts aside $300 a month. He stops at 27. So he does it for eight years. He only puts in, I think it was $35,000. But it's a million dollars by leaving in the market when he turned 65 and he stopped at 28. He has a best friend that starts at 28, invests his entire life, puts in $180,000, and he has less money at the end. The sooner you start, the better you are. Yeah.

So many questions I want to ask.

I don't know how many questions I want to ask.

So what up? Is there a way to be financially free just by saying I'm going to earn more every year as opposed to investing every year? Can you do without investing at all? Or do you have to invest? And when you say put it in the market, you mean put in index funds, is what I mean.

Well, in the book, I explain you've got to have diversification.

You only just throw it in the stock and just.

No, and what most people do is they go to a mutual fund. They think it sounds logical. I'm no good at this. This is not my skill a person says. You go to a professional, runs a mutual fund, what do they do? They figure out a series of investments to make. They put it in the fund and they do it for you. And you think, well, gosh, they're smarter than I am, they'll do well. You assume that, but the truth is they charge so much that even if they did have an advantage, they lose it. I interviewed David Swensen, who's the head of chief investment officer at Yale. It took Yale 200 years to get a billion dollars that they saved. He turned it into 25 billion in two decades. It's unheard of. He's the greatest institutional investor of all time. And one of the things that he told me, he said, Tony, you just got to understand something. He said, you,'re never going to earn your way to wealth. He said, how many people have you seen, movie stars, actors, athletes? You know, the other day, 50 Cent just went broke, right? He made a hundred million dollars on vitamin water alone. Somebody gave him a tip. And he had a half a billion dollars and he's broke. Completely broke. Mike Tyson made a half a billion dollars and went broke.

You can understand that a little bit. Yeah, I think it's 78% of NFL.

Players go bankrupt two years after that's prior. That's right. And the average lifespan of an NFL player is three and a half years. So these guys work their whole life, they go through these rough injuries and they don't know how to invest. So the answer is you can make a fortune. Elton John didn't go bankrupt because it's different rules in England, but he got in trouble. who I just saw the other day is, what's his name? The Pirates Caribbean, what's his name? Johnny Depp. Johnny Depp.

Johnny Depp's going bankrupt right now.

Really? Johnny Depp. He's making like 20, 30 million a year. Johnny Depp was worth $700 million, three quarters of a billion. He's on the verge of bankruptcy right now, can't pay his bills. He was spending $30,000 a month on wine alone. Oh my gosh. He spent $3 million to take Hunter Thompson's body, burn it, put the dust into this giant cannon and shoot his dust into space, three million bucks. It doesn't matter how much money you earn, you can always get rid of it and lose it. Buy an island and watch how quickly it disappears. So what I show people is, what you really want to do is create an income for life without working. The goal, if you own a business, and I would assume a lot of your viewers are business owners or are getting started in business, no matter how good you are in business, think about this. The one universal rule that idiots in finance know is diversification. It's the only free lunch. You've got to diversify. Because if you put all your eggs in one basket, no matter how good the basket is, one day that real estate market, that stock market, that bond market, that collectibles market, whatever you invest in, Ray Dalio showed me statistically, it'll drop 50 to 70% on a day. Now, if you're later in life when that happens, it's over for you. So you have to diversify and yet most people, they know real estate so they do it or they know stocks so they do it or they grew up with their parents flipping things and it's the wrong thing to do. So you've got to diversify in order for you to be able to truly succeed and that's why when you own a business, if you put all your money in your business, which is what most of us do naturally, you put all your eggs in one basket and there's things that can happen. Let's say you spent 20 years and you figured out how to put together the ultimate map You know, and you remember Garmin came out with this thing called the TomTom. I don't know if you remember, used to put on your-- Are you old enough to remember that? Used to put on your phone? Or used to put on your dash? Cost a hundred bucks.

It was a breakthrough.

They were making like a hundred million or something. Yeah. They were. Six months later, what happened? The iPhone came out with Google Maps. These little bastards-- excuse my French-- came out with it, put Google Maps, put their own map on here, and cost how much? Zero. What are they gonna do to your business when someone takes your product or service and gives it away for free? So I always tell people, competition happens, technology happens, what you must do is have a second business with no moving parts, no people, no time. Maybe it takes you two, three days a year for two or three hours after you've read the book, you put it in place and you measure it two or three times a year. That's it. Go on with your life. Now if there's a trouble in your business, you're financially set. I, in my life, have 31 companies now. We have, you know, what do we have, 1,200 employees. seven different industries, we do five billion in sales. I mean, that used to be, you know, me and my seminar business, it's grown geometrically. But with all those moving parts, the only way I've been able to succeed is because I've taken every one of those businesses and I've diversified my assets so that when things were in trouble, I still had enough economics to take care of myself and keep the business going. So everybody needs to create a money machine that works while you sleep, that doesn't have moving parts. And that's what this is really about.

You have a great cartoon in the book where there's a kid asking his father, you know, something about like how do you invest your money or how does the stock market work? And he says, you put your money in at the peak, it starts to go down and lose money. And so you get scared and you take it out. And then someone smarter than you makes all the money, something like that. So how do we, and I've done that in the past where I put my money in somewhere high, it went down and I was like, oh, I just lost a bunch of money. Let me take it out.

Yeah.

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

How do we do that? Great question. It's one of the main reasons I wrote the book. I always tell people, if you just read the second chapter of the book and nothing else, it'll change your life. You can do that with multiple chapters, but that chapter is really about teaching people that winter is coming. We all know winter's coming, right? To quote a phrase. but that winter is the best time on Earth. And I know that's counterintuitive, and I don't mean like being a positive thinker, I mean pure facts. So in the book, I take you through 10 facts. I'll give you a couple of them right now. The first fact I give people is, why do people not invest? They're afraid of failing. You're a millennial, right? So you grew up witnessing 2008 when you were still relatively young. How old are you now?

33.

Okay, so you were, what, 27?

2008. Yeah, 27, 28 years old.

So you're a young man and you're watching the world melting down in front of you. For most millennials, they are the first generation since the generation that went through the depression that is not investing at the ratio they need to, even close. Little more debt than everyone probably, right?

With all the-- They have more college.

Debt than everyone, absolutely true. I have a friend that has $400,000.

In debt, dental school.

President Obama just paid off his debt five years ago while he was still president. What? No, I swear to God. It's mind boggling. And he had a bunch of scholarships, but the last bit it took him that long. So what I tell them is listen, paying off your debt's not enough. You've got to become an owner or you're always going to be in that place. So yes, pay off your debt, but here's what you need to know. You got to become an owner. You got to get in the game, but you got to understand the rules of the game. You don't know the rules of the game, the old phrase is, when a person with experience meets a person with money, we know the phrase. The person with the money ends up with the experience. The person with the experience ends up with your money, right? So I teach people the rules of the game so they don't get screwed. But the most important thing is this, winter's coming, but people react. So let's take last year. Last January 2016, we had the worst stock market opening in the history of the stock market. First, I think it was 10 days. There was a drop of $2.3 trillion with a T. Crazy. Everybody's freaking thinking the bear market's here, the market's over, the crash is here. I think the market dropped 800 points one day and on that day, all the richest people in the world were in Davos, Switzerland, you know, for the big conference that they do every year. And they went there, MSNBC went there and everybody's freaking, what's happening? What are we going to do? And they said, let's go ask Ray Dalio. Now, your listeners may or may not know Ray Dalio as, if you're not in the financial business, probably never heard of him. You probably heard of Warren Buffett, but Ray Dalio has done more. You have to have a $5 billion net worth and $100 million to give him where he wouldn't talk to you 10 years ago. Now, he doesn't care shit how much money you have, he won't talk to you. 'cause he's got a close fund. But they go and they put value on television, CNBC, he's the king. What do we do? And he says, well, you don't need to panic. Corrections happen all the time, but you need a strategy that when markets go up and down, you don't go up and down. And he said, I spent 15 years of my life to perfect such a strategy. All of my money's in that plan. And he said, it's called All Seasons, and I've never revealed it before, but I gave it to Tony Robbins. He extracted from me and it's his book. So you got to go read his book. This is what he says on national television, the data markets are crashing. And that day, to give you an idea, which is the beginning of February, I think it was nine days into February, the market was down 9% in the first five weeks of the year. His strategy, which he gave me, which is made money 85% of the time for the last 75 years. It's averaged a 10% return just under, and the average loss when it 15% loss was 1.6. So if you go to Vegas and you could spend 85% of the time make money and when you made money was 10% and your loss is 1.6, you can go forever. His plan made 2% while the market was down 9. So it was up 11% difference. Now, I'm not suggesting that's the only strategy to do. There's many. His is the smoothest ride with the least risk. But what it did was combination of that and then right after that I interviewed Fed Chair Alan Greenspan. He was the head of our economy, the most powerful man of finance for 19 years, four presidents, he was there running. I was just with President Clinton this last week. He was the Fed chair for him. And I interviewed him for like two hours, or three hours off stage, two hours in front. And I asked him, in the very beginning of this thing, I said to him, I said, look, if you could put the Fed today, what would you do? And he looks at me and as I said, he leans forward and he says, resign. So I look at that and go, oh my God, I need to write a book that'll free people. So here's what will free you. Everyone's afraid of the crash. So here's what we need to know. Two terms you should understand. Correction versus crash. Anytime the market drops from its high by 10% or more up to 20%, it's called a correction. If it drops 20% or more up to 80%, like in the Great Depression, then it's called a crash or called a bear market. So how often does a correction happen? How often do we have to be prepared for it? Since 1900, we've had a correction on average every year for 116 years. So when is winter coming? This year on average. It's like how often does winter come? You wouldn't be surprised if it stormed and rained. Now some winters are long, some are short, some are harsh, some are light, but winter always comes. So I wasn't panicked when this happened last year. I'm not panicked whenever it happens because I know it's supposed to be. How long does it last? Average, 56 days. Okay, so just under two months. What's the average drop during that time? 14% over the last 30 years, 13.5 of the last 100 years. So I use the more recent one. 14% gets your attention, right? 14% you get a little gut check. But here's what you need to know, 80% of all corrections never become a bear market. 80%. So all this fear and what people do is what you said you did, They see it, it's freaking out, I'm losing money, I'm the hell out of here. And they get out. The stock market never took a dime from anybody, only you can take it from you. You sold, that's why you lost. Right. Right? So if you look back and say, what was it like in 2008? I can remember vividly being with my platinum partners and saying, you, see these $80 stocks? This is six months before the crash. I told them in April, I brought them to Dubai and I said, these stocks are gonna go to eight. and some are going to go to a buck. And by October, and I told them what to do, so they were able to get out. October, I go on the Today Show in October of 2008, and they go, Tony, there's been $3 trillion meltdown. Pump the country up, you got four minutes. Ready, go. That's not what I do, first of all, and I said, that'd be a lie. I'm not going to, at that point, the $80 stocks were eight. I said, some of those, I said, I'm not a market forecaster, but I work with Paul Tudor Jones, one of the greatest investors in the history of the world. in the biggest market crash in history, 1987, he made 200% when everybody else was losing their entire life. I've been coaching him continuously now for 24 years, every single day. So I said, I work with the best in the world, and they're telling me based on history in the 30s and history in the 70s, those $8 stocks, some are going to be a buck. And I remember the day in March of 2009, Citibank, which had been, I think, $70, sold for 97 cents. You could go and take your money out of the ATM. It cost you more to take your money out than to own the bank. Right? And then I told people it'll jump from 99 cents to 6, 10, 12 dollars in a month or two. It's exactly what it did. Right? So what you got to know is Corrections happen every year. You got another couple months. Got to know it's 14 and you won't lose because 80 of time doesn't go to a bear. Now, what about the bear? The bear market, it happens to give you an idea, in the last 100 years, every three to five years, you've gone eight without one. We're way overdue. In modern years, last 30 years, it's about every five years. The average length of a bear is one year. The average drop is 33%. A third of those drops go 40% or above. That, I don't care how well prepared you are, that's a scary thing. But it is the greatest opportunity in your lifetime to go from wherever you are financially to where you want to be. I hope your audience is listening right now. Hear me. If you want a leapfrog and you're a millennial and you think there's no future or you're, you know, a baby boomer and you think you're too old and it's too late, the greatest gift you have is coming. I know it doesn't sound like it. This is not positive thinking bullshit. This is the truth. Wall Street. The stock market is the only place that when things go on sale, people freak out. If I said, you like Ferraris? Sure. If I said to you, Ferraris go on sale for 50% off.

Awesome.

But when I tell you Apple's on sale for 50% off, you go, oh, what am I going to do here? What's wrong? The whole world's coming to an end. If you think about it, how old are you? 33. 33. So let's assume if you were 35 and you lived to 85, you got 50-52 years ahead of you. That means you have 52 more corrections to live through. That means you're probably in those 50 years going to have 10 more bear markets to live through. If you're going to have a gut checks every time or you're going to leave out of it. If you didn't participate because you thought, oh, the market's too volatile, I can't trust it, all that stuff, you missed 250% return in the last eight years. I mean, you've missed out on everything while you're waiting for things to be better. And if you won't do it when it's like this, when it crashes, you're.

Not going to get in.

So here's the good news about the bear. Good news about the bear. Average ones a year. Could be longer, but that's the average. Could be shorter. But here's what's cool. Every single bear market in the history of the United States has led to a bull market, meaning right afterwards. So 2008, this plummeting, what happened in 2009, up 67% in a year. I can show you every single bear market. And the next year, when it comes out, it's this. explosion. Now, that's not true in every market in the world. It's true for two centuries in the United States. Wow. So that's why Warren Buffett says, I want to be greedy when people are afraid, and I want to be afraid when people are greedy. If you remember 2008, he was telling everybody, bye, he was having the time of his life. Bye, bye, bye, everything's on sale. So what you have to do to become unshakable is turn, the metaphor I use is turn the snake into the rope. Meaning, we all know the story, it's the middle of the night, you're walking through the yard or someplace and you see a snake and freaked out, you pull back, you come in the morning and it's a rope. Once you know it's a rope, you're never afraid again. I want to take for people investing and show them how to turn that snake into the rope it really is. And I'll tell you one final stat on all this. People always say, and you start to bring it up, timing. How do I time it? Right now, things are too expensive, I want to wait. People have been saying that for eight years. Is there going to be a correction? Yes. But when it corrects, you want to invest again. You'll get dollar cost averaging. If you paid a little too much here, you'll pay paying less here, it'll bring the average price to a reasonable place. It's going to allow you to succeed. But here's what people need to know about timing. If you are not in the market, it's the most dangerous thing. This is so counterintuitive, so I hope your audience is listening. Let me tell you, there's two different research projects. One was done by JP Morgan. I just spoke for them the other day at their alternative investments conference. And to be in the room, there are 400 people, you have to have a billion dollar network to get in the room. It was mind boggling. Right? So JP Morgan did a study and also Schwab did a separate study, 20 year studies. In the last 20 years, to give you an idea, the average S&P 500, that index has produced 8.2%. Over 30 years, it was 10.28. But in the last 20 years, a little bit less. Still great. You double your money, you know, roughly you're in a position where you double the money a little more than every, you know, what is it now, 7.2, so it'd be like a little more than 10 years. Here's what they found out. If you missed the 10 best trading days in 20 years, because you're trying to time the market and you're not in it during one of those days, you went from 8.2% return over that period per annum per year, it dropped down almost half, 4.5. What are the chances of you knowing the past 10 days to trade in 20 years? None. Warren Buffett said, Market timers and market forecasters are only there to make fortune tellers look good. 'Cause no one can do it successfully. Even if they do it for a while, it doesn't last. It's luck. Jack Bogle told me, he started Vanguard, you know, $3 trillion company. He said, We took gorillas a thousand in a room and had them flip coins. And we said, How many times have you got heads? How many have you got tails? Just gorillas flipping them randomly. And he said, One gorilla in that set of those turns flipped heads 21 times in a row. Now, when you look at that, see all these gorillas doing it, you look on and say, what a lucky gorilla. He said, but in the hedge fund industry, in the mutual fund industry, when somebody does 10 in a row, you go, what a brilliant investor. Right. What a genius. And it's just averages in luck at that time. In fact, he showed me that 96% of all mutual funds fail to match the market over a 10-year period of time. Only 4% make it and they're constantly changing. So the statistic I want people to know is, if you missed the 20 best trading days in the last 20 years, just 20 days in 20 years, one day a year in 20 years, and you're wrong, you're wrong on timing, you're 8.2 doesn't drop to 4.5, it drops to 2%. You might as well been on a wing of bond at no risk. If you miss the top 40 trading days to give you an idea, you are minus 2%. So you've got to get in the market. And if you're saying, what about my timing though? Study was done by Schwab. If you've got the perfect timing for the year, the right day, the best possible day to buy, some people, the worst day, someone else dollar cost averages, this keeps spending the same amount every month regardless of prices. and somebody stays in cash. Who has the worst return?

The guy trying to time them or no?

Cash.

The cash.

You get nothing for cash. The guy who was the best had the best timing. The guy that was the worst, the guy that dollar cost average and the one that was on the worst day were almost identical. But after seven years, there was only a $20,000 difference in accumulated assets between the worst day and the best day. the worst was not being in the market. See, you've got to be in it. And I'm not saying put everything in stocks. We teach in the book all these different assets. But stocks in the last two centuries have provided the highest returns. So you have to have significant exposure to that if you want to get the highest return.

Got it. And what I love in the book, you say that 80% of financial success is psychological, 20% is mechanical. So it's not about timing and trying to figure all these things out. when's the best thing or the best fund?

This is not about trading, it's about investing. Trading is trying to do that and most people lose money trading. Even the guys that tell you to make money, see how they're making money two or three years from now. They usually eat the dust, right? Exactly. So, yes, you've got to have the psychology and my best way of psychology is not to pump you up. If you want to be unshakable, you want to be educated and you want to know the facts. You want to know, look, every five years I'm going to get a bear, maybe three years, I'm going to get a correction every year, but I'm going to be in the market and make money. Do you know that? six of the 10 best trading days in the 20 years happened within two weeks of the worst trading day. So when Trump was elected, the market dropped, I think it was 800 points that night. Then at three or four in the morning, he made a speech where he was somewhat human and normal. And the market which got all its money back and since then we're up 14% in November, December, January, three months, February, three and a half months. So, people need to understand you gotta be in the market because the worst days will bring you your best days.

Now, I went to India last year and I went to One World Academy.

That's great.

Connected with Christian G and Preeti G, the whole team. And I went for two and a half weeks.

That's awesome.

It was a game changer. And I'd heard that you'd went there.

Yes. And she's a good friend of mine.

When I read the end of the book, you talked about beautiful states, suffering.

State, what I learned. Yes.

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

Yeah, well, Chris and I were talking, he said something really beautiful to me. He's a dear friend of mine, I've known him for, I guess, about 15 years. His father is one of the most powerful spiritual teachers in India, one that's, yeah, so, you know, give me an idea. He's considered an avatar there. So I went there and they had an opening, Krishna helped to organize it, and they expected a quarter million people over five days and a half a million people showed up the first morning. So it was like the ultimate craziness, as you imagine. So he's got some really beautiful grounding, and his father is not just a religious man, he's really a spiritual man. He believes whatever you believe is wonderful, but what you have to do is wire your brain so that you're connected to the aspect of your spirit or oneness, and he teaches various ways to this. So anyway, Christian G and I, over the years, have done a lot of fun things together. And this, about two years ago, we were having a conversation and he said, you know, you teach secret to life is peak state versus lousy state or being energy rich versus energy poor, that a relationship, you can love somebody, but if the energy is low, it's not going to show up. The energy is high. Well, he said, what if you swap those words and you swap peak state for beautiful state? I said, that works. You know, a high energy state is a beautiful state. Any state where your high energy would be like love or joy or gratitude or drive or courage or faith or playfulness or fun, any of those things are beautiful states. So he goes, yeah, yeah, I agree. And I said, and then suffering states would be low energy states. So that would be frustration, sadness, anger, resentment, loneliness, boredom, whatever. He goes, yeah, that's exactly right. I can swap those. He goes, if you swap them, there's something cool that you might see or do. I said, what's that question to you? And he said, Well, he said, I have made a decision that I'm going to live my life where I'm going to live in a beautiful state every day, no matter what, even if it rains on my parade, even if people do things that are unjust. And he said, the reason is because in a beautiful state, just like you teach a pig state, everything flows. And I said, well, that's pretty much what I've been teaching. He goes, Yes, but if you think of the lousy states as suffering states, he said, then you can end suffering just by ending the state. and I said, I don't really relate to the word suffering. And I think most achievers do. Most achievers don't even get fearful. We get stressed. I always tell people, fear is the achiever word for stress. Because if I follow your stress, it'll take me to your fear. But I realized I didn't relate to suffering. Like, if you told me two years ago, Tony, do you suffer? I said, are you kidding me? I got the greatest life. I have the most incredible wife and four kids, and I got 31 companies, and I'm financially free, and I have a mission I love, and I'm in good health. And that would all be honest. I wouldn't have been dishonest about it, but.

What really helped me out of that.

Conversation, I left there and I went, well, where do I suffer? And I realized frustration is suffering and I get frustrated. I get concerned. I get pissed off. I get worried sometimes. I get these feelings. And so what I decided to do was just really create a 90-second rule for myself where I would end suffering as it arises because anybody tells you, you're going to end suffering is full of crap. The reason is your brain is a 2 million year old brain. It's not designed to make you happy. It's designed to make you survive. But there's no saber-toothed tiger for you to react to anymore. So now we worry about what are people thinking of us? Do I have enough money? And in this country, in America, if you are in utter poverty, and I hate poverty, I've eaten 100 million people a year, so I'm not sitting on the sidelines. But if you make the worst and the least amount of money in this country and you're in total poverty, you're in the 1% of earners on the earth. Because 75% of the planet lives on $2.50 a day. Right? So what I try to do is show people you can't build on failure. You can only build on success. So over the last two years, what I've done is play this little 90-second rule. And if I feel tension in me, I go, okay, that's suffering. Where's it coming from? What am I stressed about? What am I concerned about? And what I immediately do is I realize the stressful thought, since I've seen Christian G. I kind of traded one thing. What I really do now is I dig in and I notice that the only time you have stress or suffer is when you believe a stressful thought. So what would be one or two of the most stressful thoughts that happen to you most often? Because we all have them, right? You can be an overachiever and still do it. So what would be two thoughts that show up a lot that make you stressed?

You know, something's not going well in my business or it's not the way I want it to look or be or, you know, someone on my team messed up and it makes me look a certain way or my, you know.

So there's a sense of loss. My sense of self. My sense of self.

Yes. My ego gets like, so what I.

Told Christian G. is I said, Christian G. I said, I think I found the three triggers to suffering. He goes, what's that? I said, it's loss, less never. Whenever you believe, your mind believes a stressful thought like, oh my God, my business is not going, or oh, this guy screwed this up and now I've lost something. I've lost this opportunity or I've lost the time or I've lost the money or it could not be someone else, it could be you. You could say, I failed to do this. I did something or I failed to do something and as a result, I've lost something I value. significance, trust, love, money, freedom, whatever. Or you said something or did something or failed to do something or I failed to do something or say something and I feel like I have less love or less money or less freedom. Less will make yourself. The one with the worst is never. If you start believing that because she said that or she did that or because I failed to do this or I said that, I'll never have love again. I'll never be wealthy. I'll never be free. Once you believe that shit, it's true because you won't initiate, you won't solve it, you won't create it. So I'm very sensitive to loss, less than ever. Anything that triggers that and the antidote to it is to realize it's not you. So your thought of, God, you know, my business is stressful. Is this gonna, you know, I'm sure it'll make a little part of you like, Is this gonna make it? Or this guy screwed up and look, it screwed me out of all these things. When those things happen and you suffer, It puts you in a mode where you're really suffering about is yourself. And you were honest about it. Thank you for that. I saw you do it. You said, you know, well, I was thinking this guy did this and it cost me this. It's the me-me-me that makes us suffer. When a woman will say, I'm really worried about my children. I'm really stressed. She's suffering about her children. And I'll listen to her and I'll say, Tell me. And she'll say, well, they're not doing this, not doing that. And I'll turn to her usually and say, I hope you can hear yourself because the real reason you're suffering is not because of your children. It's not because they're not doing well, it's because you think you've failed them. It's about you. Because otherwise you'd just be working on the solution. But you're busy beating yourself up, feeling bad, thinking the worst case scenario, right? So the antidote to suffering, the antidote to loss, less never is appreciation. I always tell people, trade your expectation for appreciation. Your whole life changes. So I was just doing this talk here earlier and I shared with them experience and I'm fortunate enough to have my own private jet now, but it It's a intercontinental jet, so I can fly straight to China. It's bigger than a Gulfstream. It's a global express. So it's like having your own bed in the sky, office in the sky. It's just amazing privilege. We filmed in there last time. Oh, that's right. I forgot about that. So it's fun. So you got the sense of it. It's amazing. But up until that time, I was chartering, but half my business was overseas and it's like, you know, $400,000 to fly to Australia and back on a Gulfstream. So it didn't make any sense. I finally did well enough to sell a couple companies, made a couple hundred million dollars, and I went and bought the plane. plane. But before that, I would be so stressed getting on Qantas Airlines to fly to Australia. First class, yeah. First class, real bad. I would be so stressed because in my head I go, there's no internet, I'm cut off for 14 hours, I got 31 companies. I mean, I've got this list of calls and texts and slacks and emails and by the time I get there, it's going to triple in size. You're going to lose money, yeah. I'd be all stressed out, right? And then one day I asked myself, what the F is stressful about sitting? or flying when you got a bed, you know, even on a commercial flight like that in first class. And I realized what an idiot I was, but it still grabbed me. You'd still suffer. And I remember one of the last times it happened before I got my plane, ironically, they announced on the air, they said, Ladies and gentlemen, we're proud to announce we have international internet. And it was like God descended in the airplane. We're all cheering, clapping. It's so wonderful, right? And and then within about nine minutes, the thing broke down.

Oh man, yeah.

Everyone's out there. Everybody's pissed. They're like, oh, this is bullshit. I can't believe this. I'm not putting up with this. And I tell the story because nine minutes before, it was a miracle. Now, after nine minutes, it's already an expectation. And when you have expectations, you're always miserable. I realized my happiness was so cheap because all I had to do was have this nearby and I could lose my happiness. because 31 companies, 1200 employees, you know, five continents, I think, yeah, five continents now, seven divisions. What are the chances that right now someone is screwing up something with that many employees and that many businesses?

100% chance.

100%. So all I had to do is wait and open up and find the piece there. I was like, I can't believe what the hell is the matter with them. See, I realized all I had to do is have my phone to be stressed. If that's true, my happiness is so cheap. 'Cause what are the chances of everybody doing exactly what you think they should do the right way every day? Zero.

Zero.

What are the chances of people you love doing what you want them to do the way you want them to do them every day? Zero. What are the chances of you doing the right thing every day even if you're talented and disciplined? Zero. Zero. So your happiness will never last as long as it's got expectation behind it. Don't get me wrong, I have businesses, I run them, we manage them. But I know that people are going to screw up or my idea of screw up is different than I think they should be. And sometimes their screw up will turn into something even better. I got to give it room. So what I did was I began to realize I made the decision, it's the most important decision I believe of your life, that I'm not going to suffer anymore. Life's too short to suffer and I'm going to live in a beautiful state every day. And the way I do it is I catch myself when I start to get that sense of stress I let it go and I see the idea go by. So your thoughts, thoughts about this person messing up your business or not falling through. If I was in a room with 10,000 people, I guarantee you 60, 70% of the business owners have the same thoughts at times, right? I ask people all the time, tell me your most stressful thought. Oh, I'm worried about my children. This may happen. How many of you all have had that thought? Everybody. I might not make it financially. Well, how many have had that? Everybody. My point is, it's not your thought. It's the mind, not your mind. When you think it's your mind, you identify with it and you can't separate from yourself. But when you realize, these thoughts have been around for millions of years and I'm just thinking the same thought that so many people have thought before, like how many people have ever thought, I'm gonna kill the son of a bitch. No, you didn't do it because you didn't believe you're really gonna kill them. But you felt it, you said it, you were there, right? So we all have thoughts. It's only the stressful thoughts we believe that mess us up. So what I try to show people is, if you can start to realize these thoughts have been around for millions of years. If I told you a million years, you know, a thousand or a hundred years ago that we're going to go to the moon and back, you called me a lunatic or crazy. If I said a hundred years ago, you're going to have a little box like this, it'll fit in your pocket, and you can click on it and you can see what the weather is any place. You could click on it and see a live person on the other side of the earth and talk to them by looking in this box and the way it works is invisible waves are traveling around the earth and it pulls invisible waves in the box. You go, read between the lines, there's no way you dumb idiot, it's never going to happen. So what I want you to realize is thoughts are invisible waves. When you turn on a TV, it takes invisible waves and depending on the channel, you're going to see a love story or an adventure or a drama or a comedy or a horror. the way you use your body determines which of those thought waves come through you. One moment you're pissed off, the next moment somebody makes you laugh, you change your body, you change the channel, you change what comes through you. So what I've tried to do in this area beautiful state is simple. First, identify where you're suffering, what's your favorite flavor. Are you a worrier? Are you a pissed off person? Angry. What is it you do? Second of all, decide you're going to kill that monster while it's little. You're not going to wait till it's Godzilla taking the city. You're going to break the pattern. you start to feel the stress, you see it as thoughts going by, and then you focus on something to appreciate, enjoy, or love. Appreciation, love, and joy destroy suffering. You can't be grateful and angry simultaneously. It's impossible. You can't be worried and fearful and grateful simultaneously. So I tell people gratitude is one of the emotions to cultivate that will destroy the suffering.

And that's what we teach people to do. David Haywood said, Do you really believe deep down that you made the choice to live the life you're living? Or did it choose you? And how do you rationalize choice when there is so much we don't get to choose?

Well, that's a good question. I have chosen very consciously what I want for my life and I continue to choose. I really believe that our Creator has given us choice and those that look at their life and say it's not the way they want it and blame God are barking up the wrong tree. The resources are inside of us. that's number one. But I'd say number two, this idea that, you know, rationalizing choice. I don't rationalize choice. I know it's one of the great gifts in my life and I can make it any moment. So can you. The one power we have is the decision to change anything. You know, like your relationship, change it. Change you first or change it. You don't like your body, change it. You don't like your finances. Any one of us can change it. We live in a world that's filled with answers. You got a web where you can learn from anybody on the planet now. You got access to them. so I don't see it as rationalizing choice. I think that mindset reveals limitations in the person asking the question. I'm not being derogatory to that person. I'm grateful for the question. But I want you to know if you're listening that if I asked all those watching, we all have patterns, and I'm a student of patterns. The way I can make changes in minutes for people that were stuck for years or athletes, I've turned around and developed great man of fame around him, you know, the Quincy Jones of the world, the, you know, the Pitbulls, the Serena Williams, the things I've done with all these people they rave about are because I know that whatever you focus on, you're going to feel. So I'll just give you one example for the person asked this question and for anybody listening.

Yeah.

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

What I have.

What you have, great. When I ask this in a room, usually about 70% are focused on what's missing. Most achievers are focused on what's missing so they can go out and achieve more, right? Nothing wrong with that. But when you stack these patterns together, it's really hard to be happy when you're constantly focused on what's missing. There's a time when it's missing so you go to work, but if you do it all the time, you can be achieving a ton like some of these billionaires and they're still mostly saying what's missing and so they're not happy. Another pattern would be, do you tend to focus on what you can control or what you can't control?

From me, can.

Yeah, and I know that's true with you. The majority of people is what they can't control. Now, if you focus on what's missing all the time and what you can't control, you're going to be depressed. I don't care if you take Prozac or Zoloft or anything else, your depression is not a Zoloft deficiency. It is the fact that you were doing something in your mind that is producing that depression. And if you constantly focus and what's missing and what you can't control, and look at a third one. You tend to focus more on things in the past, the present, or the future. I know you do all three. We all do all three, but which one for you would you say you spend more of your time on? Past, present, or future?

Well, my old self would say the past and the future. Now after going to One World Academy, I'm very present and present and future.

There's no right or wrong. The past, you can't do anything about it, so the more you focus there, unless you're learning something from it, It's pretty much a waste. The present is where the joy is. The future is how you do business, right? So you anticipate. So it's the ability to do this. But if you have someone whose pattern is focusing on what's missing, focusing on what I can't control, focus on the past, you can give them, I've seen it, I've dealt with people like that who are suicidal. I come in, they got every drug, they're taking every antidepressant, and they're still depressed. In fact, I'll ask in audiences all the time, how many of you know somebody who takes antidepressant and still depressed? 90% of the room will raise their hand.

I know people.

You know people, I'm sure people at home do. Well, why are they still depressed if they're taking antidepressant? Because all the antidepressant does is numb you, but they're still focusing what's missing, they're still focused on what they can't control, they're still focused on past or present that's not the way they wanted to be or making up a future that's scary. Well, you're gonna be depressed no matter what unless you take control of those factors. So the answer to this question is, I don't see it as a rationale, I see it as a gift. Choice is a gift. It's always there. You can choose what you focus on and what you focus on is what you're going to experience. You can focus on things that make you suffer, you can focus on things that make you grateful. And of the two, gratitude is the better approach. It's not some man-bye-pammy positive thinking approach. It's intelligent because when you're in a good state, you can solve the problem 10 times better. I used to convince myself that if I'm suffering, if I'm pissed, I'm 10 times smarter, my brain goes faster and it does. You know what I also found? I'm 10 times smarter when I'm not stressed. And I also enjoy my life. -Your body doesn't hurt. -And your mind doesn't hurt.

-And everybody else you're able to reach them because they're not defensive. -If you want to learn how to.

Make more money and master money in your life, then check out this video right here. -I put my money number one where I have total control. Number two where it is indestructible. Like the investment has to be indestructible. So, I'm indestructible, right? I can invest in me and I'm in control of that investment.